Top 8 Rags to Riches Stories of Indian Entrepreneurs
Karsanbhai Patel: Nirma Karsanbhai Patel is the founder of Sabki Pasand Nirma that is one of the leading names in India when the whole detergent niche in India was owned by the MNC's like Hindustan Level. He began his business by making detergent in the backyard of his house and door-to-door selling off his self-produced product. To beat the MNC competition, he offered a 1 kg packet of detergent for Rs. 3.5 when the cheapest packet available in stores was Rs. 13 per kg. Besides, he also offered a cash-back guarantee to give the customer reassurance. This strategy helped him build a customer base which also showcased his excellent entrepreneurial skills. The market strategy of Patel was also ingenious. He took a risk by dumping huge stocks of Nirma in the market and for a month focused on heavy advertising. His strategy paid off and the ads became a sensation. They created a huge customer base for the brand. Patel flooded the market with Nirma and today it has ...