#TiEConChennai16 #TiEChennai

- Annual Conference of TiE Chennai Chapter held on 4th and 5th Nov 2016

Thyrocare’s Journey

Key Takeaways :

- Normal gets silver. But when challenged, get gold – our Olympic story !!!
- Challenged performs better than normal
- Asians are the most the most intelligent..amongst Asians, Indians are brilliant. In India,
TN is brilliant and in TN Coimbatore is brilliant ….
- True experience is not the number of years in your chair but how many problems you had
solved from that chair
- “Luxury of poverty” produces Entrepreneurs
- If you don’t sit down and study in school, you will not come up in life !!!
- One plate, one slate in school produces the best talent
- Work life balance is not being a CEO or a MBA
- Story of a half trouser. Transition from poor man’s dress code to rich man’s dress code !!!
- Poor man has no down side…Richman only has downside !!!

1978 – 1982 – challenges
his journey

- 50 failures. No experience
- No English speaking knowledge
- Running a capsule company ie small company
- Loved soil, culture
- Lobed parents, siblings
- Loved movies and songs…grt Rajanikanth fan !!!
- Risks and uncertainty
- Was all alone
- Spent 3 days in VT Station, Mumbai with Rs 500 in his pocket
- Started career with salaries of 150,175,225 etc

Compiled by

Mrs Rama Venugopal, Executive Director, M/s.Value Addded Corporate Services P Ltd, Chennai
Email : rama@valueadded.in
#TiEConChennai16 #TiEChennai
- Annual Conference of TiE Chennai Chapter held on 4th and 5th Nov 2016

- Company where he was working closed down

- Insults were many….as a graduate , drawing less salary !!!

His Insights into his journey :

- English is only a language & not Knowledge!!!

- Entrepreneurship
you should lose everything to start a business
- He failed to answer his interview questions. Question asked was “Where is Thyroid?”. He
failed to answer !!!
- CZ to DZ – he says get out of your comfort zone and step into dangerous zone
- Self questions to be asked :
 Live or Lead
 Grow old Or Grow big
 Restless man through out
 Risk in life
 What will I lose ?

His Discuss OR Decide decisions :

- Left home
- Got married
- Resigned Govt job
- Started testing Thyroid at Rs 100
- Doing PET CT at Rs 9999

Thyroid episode !!!

- Organ size/weight - 15 grams

- He built a business worth Rs 1000 crores

Compiled by

Mrs Rama Venugopal, Executive Director, M/s.Value Addded Corporate Services P Ltd, Chennai
Email : rama@valueadded.in
#TiEConChennai16 #TiEChennai
- Annual Conference of TiE Chennai Chapter held on 4th and 5th Nov 2016

He says in 100 kgs body, he picked up only 15 gms and he built a Rs 1000 crores empire !!!

His Business Disruptions :

- Lower cost
- Franchisee concept
- Air cargo tie ups
- Technology use
- McDonald model – In Macdonald, they don’t service fried rice. Same way, he focussed
only on Biochemistry testing and nothing else !!!
- Walmart model – Make money from vendors / manufacturers , by better pricing from
volumes
- Ola model – Demand aggregator thru franchisee / pick up points

He buys 5 million tests at 0.5 $ !!! Sample volumes matter !!!

- Cost is his only disruption

- 1200 centers in India in no time
- 100 machines running for 21 hours……

Pyramid :

 Central Hub
 40 Hubs
 1200 Franchisees
 Tie ups with many labs
 Network of drs

o Caters to 5000 families

o 1000 staff
o All freshers only

Compiled by

Mrs Rama Venugopal, Executive Director, M/s.Value Addded Corporate Services P Ltd, Chennai
Email : rama@valueadded.in
#TiEConChennai16 #TiEChennai
- Annual Conference of TiE Chennai Chapter held on 4th and 5th Nov 2016

o Average mean age of employees – 24 years

o 98% of his staff are freshers

Just focus – there is no competition !!!

His Lab Competitors Labs

Only biochemistry Pathology labs

Numerical values Subjective – interpretations oriented

Deals with Disorders Deals with diseases

Deals with Chronic cases Deals with acute cases

Night Story :

- 50000 patient samples processed everyday night

- 2,50,000 tests done everyday at night

Stamina = gain all assets if you have stamina !!!

1996 – started with 200 sft office

Now – two buildings of 4500 sft each in Mumbai and 15 acres land too

His famous Quotable Quotes :

- Take less to get more

- Don’t copy your neighbour
- Resist temptations
- Plan to loose
- Million to Billion
- Stamina is ultimate
- Avoid easy things

Compiled by

Mrs Rama Venugopal, Executive Director, M/s.Value Addded Corporate Services P Ltd, Chennai
Email : rama@valueadded.in
#TiEConChennai16 #TiEChennai
- Annual Conference of TiE Chennai Chapter held on 4th and 5th Nov 2016

- Be alone, be a Lion
- Jithao

His final punch line :

Velumani – Value + Money

Business Tips for Entrepreneurs:

- Focus first
- Ge things done
- Use tech
- Be frugal
- Work on stamina
- Learn to be a story teller
- Perfect discipline
- Use HR, IT, Logistics
- Dilute to scale
- Maintain TTT
o Trust
o Truth
o Transparency

Enjoy Life tips :

- Create jobs, not money

- Be frugal
- Investment and expenditure culture
- Neighbour is a big enemy
- Love the nature

Compiled by

Mrs Rama Venugopal, Executive Director, M/s.Value Addded Corporate Services P Ltd, Chennai
Email : rama@valueadded.in
#TiEConChennai16 #TiEChennai
- Annual Conference of TiE Chennai Chapter held on 4th and 5th Nov 2016

- Eat for intestines

- Burn calories not salaries !!!
- EMI free life
- Petrol & Diabetes link
More cars on roads, more business to him !!!
- Cars are heart attack gadgets
- Love nature, not gadgets
- Act poor, enjoy life
- Focus, learn , enjoy and live !!!

His life’s lessons

- His parents did not do pampering

- His parents did not overfeed
- No coaching, no push to score more

Try to increase the megahertz of a child rather than the megabytes !!!

His IPO Story

27th April 2016 – started with 2 times over subscription

Closed at 75 times subscription on final day

His business performance at a glance :

Healthcare Business / India specific business

25% CAGR

40% EBITDA

Zero Debt

Excess Cash

Compiled by

Mrs Rama Venugopal, Executive Director, M/s.Value Addded Corporate Services P Ltd, Chennai
Email : rama@valueadded.in
#TiEConChennai16 #TiEChennai
- Annual Conference of TiE Chennai Chapter held on 4th and 5th Nov 2016

High ROCE

Leadership

Company valued at Rs 3600 crores
his journey to VT with Rs 500 in his pocket to Rs 3600
crores worth company today !!!

His closing gesture :

He paid final tributes to his wife, whom he lost last year…Entrepreneurial Community paid
tributes by offering standing ovation to his wife !!!

My Take / views :

Most power packed session….all of us didn’t know what hit us actually….sat glued to our
seats….we saw the humour, passion, pride, pain - all mixed in his presentation….very practical
business outlook from a practical man !!! Hard to believe that Healthcare Industry has created
such a Great Influencer, Thought Leader, Medical Entrepreneur !!!! Actually here I’m , thinking
all these days that Medical fraternity don’t understand Enterpreneurship, Leadership much…I
have to eat back my words !!!

Compiled by

Mrs Rama Venugopal, Executive Director, M/s.Value Addded Corporate Services P Ltd, Chennai
Email : rama@valueadded.in