Nagpur Duo Builds ₹250 Cr Brand with Courage & Vision
In a world where the rules of business are often dictated by conventional wisdom, Vivek Deshpande and Kirit Joshi, two fearless engineers from Nagpur, dared to defy the norms. With limited funds and a bold ambition, they founded Space Wood in 1994, a modular furniture company that would eventually become a ₹250 crore enterprise. Their remarkable journey serves as a testament to the power of courage, vision, and relentless effort, proving that even the humblest of beginnings can give rise to extraordinary success.
The idea of modular furniture wasn’t new, but Deshpande and Joshi saw an opportunity to revolutionize the industry by making it more accessible, affordable, and customizable. They started by pooling their own resources, taking out personal loans, and convincing friends and family to invest in their venture. With a tiny office in Nagpur and a handful of employees, Space Wood began its journey, facing numerous challenges along the way.
One of the biggest hurdles was convincing clients to adopt modular furniture, which was still a relatively unknown concept. Deshpande and Joshi had to work tirelessly to educate potential customers about the benefits of modular furniture, from its flexibility and sustainability to its cost-effectiveness. They attended trade shows, built relationships with architects and designers, and even conducted workshops to showcase their products.
Despite these efforts, the early days were marked by uncertainty and skepticism. The duo faced rejection after rejection, with some clients questioning the quality and durability of their products. However, Deshpande and Joshi refused to give up, instead choosing to view each setback as an opportunity to learn and improve.
In the early 2000s, Space Wood began to gain traction, thanks in part to its innovative approach to marketing. Deshpande and Joshi invested heavily in digital marketing, creating a strong online presence and leveraging social media to connect with customers. They also established strategic partnerships with architects, designers, and builders, which helped them tap into the growing demand for sustainable and eco-friendly products.
As the company’s reputation grew, so did its revenue. By the mid-2000s, Space Wood had established itself as a leading player in the modular furniture industry, with a portfolio of clients that included some of India’s most prominent architects and designers. The duo’s vision had not only paid off but had also inspired a new generation of entrepreneurs and innovators.
So, what sets Space Wood apart from other companies in the industry? According to Deshpande and Joshi, it’s their unwavering commitment to innovation and customer satisfaction. They have a strong focus on research and development, constantly exploring new materials, technologies, and designs to stay ahead of the curve. They also prioritize customer relationships, working closely with clients to understand their needs and preferences.
The duo’s fearless approach to business has earned them numerous accolades and awards, including the “Best Entrepreneurial Venture” award at the 2018 Entrepreneurs’ Organization (EO) Awards. Their success has also inspired a new wave of entrepreneurs in Nagpur, proving that even the most unlikely of startup stories can lead to extraordinary results.
In conclusion, the journey of Vivek Deshpande and Kirit Joshi is a testament to the power of courage, vision, and relentless effort. From humble beginnings to a ₹250 crore enterprise, Space Wood’s success is a reminder that even the most daunting challenges can be overcome with determination and a willingness to take calculated risks.
Source: https://ascendants.in/business-stories/fearlessness-is-the-key-for-better-business-development/
