750% Growth – This is How Success is Defined!
The Curtain Call of Coir – G Sindhu’s Entrepreneurial Story
In 2007, a remote area of Modakupatti in Tirupur saw the emergence of Evergreen Enterprises. As a company that dealt in coconut and coconut products primarily, it wasn’t much of a contrasting setup in the locale. The defining trait in the company was that it was being spearheaded by a woman, being in an industry that is mostly male dominated.
A graduate from the University of Warwick, G Sindhu made a bold move of taking over her husband’s family business. While keen business acumen and dedication were the keys to turning the tables in her favor, this woman entrepreneur opines that having a sharp lookout for the relevant opportunity can go miles in making the best of any situation. While the initial challenge was convincing the family to let her take control of the business that comprises 99% men as suppliers and buyers, there were further business challenges as well.
The challenge of coping with the shortage of human resource was handled in a very smart way. Locals of Modakupatti were trained and recruited to serve as the manpower for the startup. This has resulted in the employment of over 100 uneducated people and now they have a steady livelihood thanks to the company. Evergreen Enterprises works mainly out of Modakupatti, and has a business office in Coimbatore.
For the problems concerning funding, G Sindhu tried approaching banks. But unnecessarily long processes and requirements of collaterals made the entire situation too muddy to cope with. Another bold move on her part was approaching an alternative lender, Lendingkart. The business had taken up all of the pooled capital and she was looking for cash flow. “The speed of processing the loan was very fast, compared to public sector banks”, says G Sindhu. An avid supporter of the role of technology in furthering a business, a fintech company like Lendingkart made more sense to her than traditional banks.
In just a year of taking over the business, G Sindhu has made the company increase its turnover by 750 percent. In the past 2.5 years, the number of clients for Evergreen Enterprises has shot up from 10 to a considerable 140.
Citing a few words on accountability and goal-setting from the successful entrepreneur herself – “(We) follow a system to measure the progress and set the goals every day, every fortnight and every 45 days. This fosters accountability among team members.” Working alongside farmers, clients and team members, she suggests that an amiable environment for all of them is the key to growing a business.