Nagpur duo builds ₹250 cr brand with courage & vision
In the bustling city of Nagpur, two fearless engineers, Vivek Deshpande and Kirit Joshi, dared to dream big. With limited funds and a bold ambition, they founded Space Wood in 1994, a brand that would eventually grow to become a ₹250 crore enterprise. Their journey is a testament to the power of courage, vision, and relentless effort in turning dreams into reality.
The Story Begins
Vivek and Kirit, both graduates from the prestigious Visvesvaraya National Institute of Technology (VNIT), Nagpur, had a passion for innovation and a desire to create something unique. They identified a gap in the market for modular furniture, which was not only functional but also aesthetically pleasing. With a loan of ₹50,000 from their family and friends, they started Space Wood in a small rented office.
The Early Days Were Tough
The initial days were marked by numerous challenges. Vivek and Kirit had to work on a tight budget, often going without salaries for months. They faced rejection after rejection from potential clients, who were skeptical about the new concept of modular furniture. The duo had to work tirelessly, often putting in 18-hour days, to design, manufacture, and market their products.
Innovation Was Key
To overcome the challenges, Vivek and Kirit focused on innovation. They designed products that were not only functional but also stylish and affordable. They invested heavily in research and development, experimenting with new materials, designs, and manufacturing processes. Their efforts paid off, and soon Space Wood’s products gained popularity among customers.
Risk-Taking and Resilience
Vivek and Kirit were not afraid to take risks. They invested in new technologies, hired talented employees, and expanded their operations. They also diversified their product range, venturing into new markets and sectors. When faced with setbacks, they drew strength from their shared vision and refused to give up.
The Turning Point
A major turning point came when Space Wood secured a large order from a prominent corporate client. The deal not only boosted the company’s reputation but also provided the necessary funding to scale up operations. The company expanded its workforce, invested in new machinery, and set up additional manufacturing facilities.
From ₹50,000 to ₹250 Crore
Today, Space Wood is a ₹250 crore enterprise, with a presence in over 50 cities and a customer base that includes some of the biggest names in the industry. Vivek and Kirit have become role models for entrepreneurs in Nagpur and beyond, proof that courage, vision, and hard work can turn even the most humble beginnings into a success story.
Lessons from the Journey
Vivek and Kirit’s journey is a testament to the power of fearlessness, resilience, and innovation. Here are some key takeaways from their story:
- Fearlessness is key: Vivek and Kirit were not afraid to take risks, experiment with new ideas, and face rejection.
- Vision is essential: They had a clear vision of what they wanted to achieve and worked tirelessly to turn it into a reality.
- Innovation is crucial: They invested heavily in research and development, which helped them stay ahead of the competition.
- Resilience is vital: They faced numerous setbacks, but refused to give up and continued to push forward.
Conclusion
Vivek Deshpande and Kirit Joshi’s journey is an inspiration to entrepreneurs and innovators everywhere. Their story is a reminder that with courage, vision, and relentless effort, even the most humble beginnings can lead to a successful outcome. As they continue to grow and expand Space Wood, their legacy serves as a beacon of hope for those who dare to dream big.
Source:
https://ascendants.in/business-stories/fearlessness-is-the-key-for-better-business-development/
