How a trip to Mumbai made a Bihar man multi millionaire

Year was 1998 Siddiqui went for a trip to Bombay for his 19 year old cousin, he lived in a resident of Muzaffarnagar in Bihar his cousin wants to learn computer hardware course that’s why Siddiqui decided to accompany him. But this 15 days journey turn his life upside down and today I am going to tell the story to all of you.

In that time as Siddiqui just completed his graduation and seeking for job opportunities in his hometown he found himself intrigued by the course and decided to enroll in it. In his words.

“My relatives in Mumbai, who we were staying with, told me that a career in the field would boom, as computer technology was entering various sectors at the time,”

Then he began his journey from the slums of Dharavi by borrowing 5000 rupees from friends and has since grown Cosmus, struggled his way to become a multi millionaire in the bag manufacturing industry is endeavour, into entity with turnover of rupees 35 crore.

You can recall why Siddiqui went to Mumbai. He also want to join in that computer course. Then he also joined a course. According to him The work did not interest me, as it mainly involved installing computer hardware and software. There was no opportunity to implement what I had studied. Hence, when an opportunity arose to work with Coca-Cola in 2000, I joined a small firm to embed computer systems for their stock management process. A year later, a better proposal arrived from Cadbury’s in the marketing department, and I switched again,”

Then Siddique decided to to quit his job and go in the path of spirituality before that he worked to increase the sales of the company by demonstrating penetration in multiplexes in supermarkets. And he made out that no one would have him with his new look with a beard and his Muslim attire.

After that a friend of Siddiqui name Azad offered that they should start a business together because Azad was aware of Siddiqui’s plight, in his words The work did not interest me, as it mainly involved installing computer hardware and software. There was no opportunity to implement what I had studied. Hence, when an opportunity arose to work with Coca-Cola in 2000, I joined a small firm to embed computer systems for their stock management process. A year later, a better proposal arrived from Cadbury’s in the marketing department, and I switched again,” he says.

The amount of loan had become 28000 rupees that’s why Siddiqui decided to continue to business “I promised Azad I would repay the sum in the coming months, and convinced the landlord to extend the rent of the manufacturing unit for the next three months. I reached out to my friends to buy raw material, and borrowed Rs 5,000 to start Cosmus,”

If you think this entrepreneurship went on with many peoples you are wrong, the entrepreneur had only two artisans, three machines and no knowledge of production. “I was a marketing person, and had to learn all aspects of producing bags. To get orders, I searched for potential clients on Google and traced them. I bagged the first contract from Orange, a mobile telephone company, by offering them a quote that was less than the competitor’s by Rs 40,” he says.

I want to quote his words “I explained that I work with low margins. My profit margin was Rs 10 per bag, and that is how I could beat the competition. Slowly but steadily, I reached out to other corporate companies like Cipla, Ultratech, and P&G to make bags for them as per their requirement,” he also added “ “I requested my younger brother, Irfan, to join me, because he had an MBA, as well as knowledge in the retail sector. He worked for a month and set up a retail store worth Rs 4 lakh. Unhappy with the unorganised operations of the bag industry, he quit and moved abroad,”

Siddiqui continued to focus on the work corporate sector with his investment stuck. He started streamlining his business. He says “I knew the sector was unorganised and lacked professionalism. I always fulfilled my commitment towards the client, but it became difficult to manage the staff, which had expanded. I introduced software and technology to streamline the inventory and manage staff,”

The strategy of Siddiqui’s succeed “He had experience in retail marketing and offered to clear the locked investment in the retail store made by Irfan. Riyaz expanded the retail market, while I managed corporate orders. The move increased the outreach and allowed direct sales to the customers,” he adds. Over time, the product range and quality of the bags also improved.

After launching his business in online platform the inclination slope of business developed 45° angles. He quoted “To meet demands of online orders, I increased the workforce to over a dozen artisans, and made hundreds of bags per day. But I had no budget for marketing. So I priced the bags keeping zero profit margins. I made sure that the quality of the bags improved. The customers would review the product for its quality, which helped give the brand publicity. The products had ratings ranging from from 4.2 to 4.9 out of 5,” he says, adding that the effort paid off, as his sales escalated from Rs 5 lakh to Rs 25 lakh in four years.After launching his business in online platform the inclination slope of business developed 45° angles. He quoted “To meet demands of online orders, I increased the workforce to over a dozen artisans, and made hundreds of bags per day. But I had no budget for marketing. So I priced the bags keeping zero profit margins. I made sure that the quality of the bags improved. The customers would review the product for its quality, which helped give the brand publicity. The products had ratings ranging from from 4.2 to 4.9 out of 5,” he says, adding that the effort paid off, as his sales escalated from Rs 5 lakh to Rs 25 lakh in four years. “We make and sell duffel bags, school bags, and laptop bags, among other types of products, which are priced 30 to 40 per cent cheaper than those of competitors. Assuring quality products at low prices has always been the philosophy,” he adds.

We all appreciate that ! All of us !

Source: The Better India

Aditya Santra
" Came to inundate this world of dichotomy with words of adherence where limitation knows no deterrent "

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