Nagpur Duo Builds ₹250 Cr Brand with Courage & Vision
In the world of business, success stories are often told about entrepreneurs who had it all – a solid education, a strong network, and a substantial amount of capital to back their venture. However, the journey of Vivek Deshpande and Kirit Joshi, the fearless engineers from Nagpur, is a testament to the fact that courage, vision, and relentless effort can turn dreams into reality, even with humble beginnings.
In 1994, Deshpande and Joshi, both in their late 20s, founded Space Wood, a modular furniture company, with a limited amount of funds and a bold ambition. The duo had no prior experience in the furniture industry, but they were driven by a passion for innovation and a desire to create something unique. Despite the risks, they took the leap of faith, and the rest, as they say, is history.
The early years were tough, to say the least. The duo had to struggle to find their footing in a market dominated by established players. They faced numerous challenges, from finding the right talent to managing cash flow. However, they refused to give up, and their fearlessness in the face of adversity became the hallmark of their entrepreneurial journey.
Space Wood’s big break came when they launched their first product, a modular furniture system that was designed to be flexible, customizable, and affordable. The product resonated with customers, who appreciated its innovative design and the convenience it offered. The company’s sales started to pick up, and soon, Space Wood was recognized as a pioneer in the modular furniture industry.
Over the years, Deshpande and Joshi continued to innovate and expand their product portfolio. They introduced new lines of furniture, including office chairs, tables, and storage solutions, all designed with the same focus on customization and quality. The company’s commitment to innovation and customer satisfaction paid off, and Space Wood started to attract attention from across the country.
Today, Space Wood is a ₹250 crore brand, with a presence in over 30 cities across India. The company has a strong distribution network, a talented team of engineers and designers, and a reputation for delivering high-quality products. Deshpande and Joshi’s journey is a testament to the power of fearlessness, vision, and hard work in achieving success.
So, what is the secret to their success? In an interview with Ascendants, Deshpande attributed it to their willingness to take risks and their ability to adapt to changing circumstances. “We were not afraid to experiment and try new things,” he said. “We took calculated risks, and it paid off. We also learned to adapt quickly to changes in the market and consumer preferences.”
Joshi added that their focus on innovation and customer satisfaction has been instrumental in their success. “We have always believed that innovation is key to success,” he said. “We invest heavily in research and development, and we work closely with our customers to understand their needs and preferences. This approach has helped us stay ahead of the competition and build a loyal customer base.”
The duo’s journey is also a reminder that success is not limited to those with a strong educational background or a wealthy upbringing. Deshpande and Joshi come from humble backgrounds, and their success is a result of their hard work, determination, and entrepreneurial spirit.
In conclusion, the story of Vivek Deshpande and Kirit Joshi is a testament to the power of courage, vision, and hard work in achieving success. Their journey is a reminder that success is not limited to those with a strong educational background or a wealthy upbringing. With the right mindset, a willingness to take risks, and a commitment to innovation and customer satisfaction, anyone can build a successful business, even with humble beginnings.
Source: https://ascendants.in/business-stories/fearlessness-is-the-key-for-better-business-development/
