Dr A Velumani, Founder, CMD & CEO, Thyrocare, the keynote speaker on the first day of Healthcare Senate 2016, gave a very rousing and inspiring account of his life’s journey from a small village in the state of Tamil Nadu to build a business which had a very successful IPO in the recent past. His speech was filled with several interesting anecdotes interspersed with humour, a combination which left the audience spellbound.
In a very candid address, Dr Velumani described the struggles he underwent as the son of a landless farmer but also revealed that they made him a stronger personality. Thus, he believes that poverty can actually be a hard but effective teacher.
He spoke about the major choices which actually transformed his life including the one to leave his village and come to a city like Mumbai and later on, quit the relative security of a government job at BARC to embark on a risk-filled journey as an entrepreneur. He also mentioned about the support he received from his wife, late Mrs Sumathi Velumani, in his life-altering decisions.
Key takeaways
- Without focus there is no success
- Be a disruptor or get ready to be disrupted
- If you are not ready to lose a billion, you cannot make a billion
- Maintain TTT – Trust, Truth and Transparency
- Experience is nothing but the number of problems you solve in the course of your life
He shared invaluable insights for the benefit of all entrepreneurs. He advised them to step out of their comfort zones and explore new areas of growth as only those have the courage to take risks and venture into the unknown would be successful. In his inimitable style he stated, “In life, there is security and there is prosperity, but there is nothing called secured prosperity.”
He explained the disruptions he ushered in the diagnostics sector by bringing down the cost of thyroid testing. He provides low-cost, high-quality diagnostics services with the help of people, technology and systems. His volume-driven model has brought in cost and concept disruptions. If replicated, it could serve as a great model of services delivery for Indian healthcare which is duelling with twin concerns of affordability and accessibility. Thus, he highlighted how cost and quality are not inversely proportional and how right pricing has a pivotal role in ensuring success. He also emphasised on focus, IT, HR and logistics as pillars on which a flourishing business can be built. Sharing the details of his IPO, he explained why it was received so well.
His address did not just touch on entrepreneurship but also comprised lessons on mentoring and parenting. He asked the audience to ensure that their wards and protegees are allowed to make their own mistakes and learn though experience. His quirky way of explaining his philosophies had the audience in splits, but they also found it to be educating and inspiring. The august audience of leaders and gamechangers at Healthcare Senate 2016 were very appreciative of his session and gave him a standing ovation.
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