Nagpur Duo Builds ₹250 Cr Brand with Courage & Vision
In the world of business, success is often attributed to a combination of factors such as innovative ideas, strategic planning, and a bit of luck. However, there are instances where entrepreneurs defy the odds and achieve remarkable success through sheer courage, vision, and relentless effort. One such inspiring story is that of Vivek Deshpande and Kirit Joshi, two fearless engineers from Nagpur who founded Space Wood in 1994 with limited funds and a bold ambition. Today, their company is a ₹250 crore enterprise, a testament to the power of entrepreneurship and the importance of fearlessness in business development.
Vivek and Kirit’s journey began in the early 1990s when they were working in the engineering department of a prominent company in Nagpur. Although they were successful in their careers, they felt a sense of restlessness, knowing that they had the skills and passion to create something of their own. They started brainstorming ideas and eventually stumbled upon the concept of modular furniture, which was a relatively new and innovative concept in India at that time.
With limited funds and no prior experience in entrepreneurship, Vivek and Kirit decided to take a bold step and start their own company, Space Wood. They rented a small office space, hired a few employees, and began working on their first product line. The initial days were challenging, with the duo working tirelessly to design and manufacture their products, often going without salaries to ensure the survival of their company.
Despite the obstacles, Vivek and Kirit remained committed to their vision and continued to innovate and improve their products. They traveled across the country, attending trade shows and conferences, networking with potential customers and investors, and gathering feedback to refine their designs. Their hard work and dedication slowly began to pay off, as Space Wood started to gain recognition and attract attention from the industry.
One of the key factors that contributed to Space Wood’s success was the duo’s willingness to take calculated risks. They knew that the modular furniture market was largely untapped in India, and they were confident that their innovative designs and quality products could capture a significant share of the market. They invested heavily in research and development, experimenting with new materials, designs, and manufacturing processes to create products that were not only functional but also aesthetically pleasing.
Another significant factor that contributed to Space Wood’s success was the duo’s ability to build strong relationships with their customers. Vivek and Kirit believed that building trust and understanding with their clients was essential to creating a loyal customer base. They spent countless hours understanding their customers’ needs, attending to their concerns, and providing exceptional after-sales service. This approach helped Space Wood to establish a reputation for excellence, with customers becoming brand ambassadors and referring the company to their peers.
As Space Wood grew, Vivek and Kirit continued to innovate and expand their product line. They introduced new designs, materials, and technologies, staying ahead of the competition and setting new standards for the industry. They also invested in talent development, nurturing a team of skilled engineers, designers, and technicians who shared their vision and passion for innovation.
Today, Space Wood is a ₹250 crore enterprise, with a presence in over 100 cities across India and a range of products that cater to the needs of residential, commercial, and institutional clients. The company has won numerous awards and accolades, including the “Best Modular Furniture Company” award at the prestigious India Design ID awards.
Vivek and Kirit’s success story is a testament to the power of courage, vision, and relentless effort in business development. Despite the challenges and setbacks they faced, they remained committed to their vision and continued to innovate and improve their products. Their fearlessness and willingness to take calculated risks helped them to build a strong brand and establish a reputation for excellence in the industry.
In conclusion, the story of Space Wood serves as an inspiration to entrepreneurs and business leaders who are willing to take bold steps and challenge the status quo. Vivek and Kirit’s journey is a reminder that with courage, vision, and relentless effort, even the most humble beginnings can lead to remarkable success. As they continue to grow and expand their business, their story is a testament to the power of entrepreneurship and the importance of fearlessness in business development.
Source:
https://ascendants.in/business-stories/fearlessness-is-the-key-for-better-business-development/
