case study of sunil mittal
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Sunil Mittal, the second son of Ludhiana politician Satpaul Mittal, went into business in 1976, at the age of 18, three years before he graduated from Punjab University in economics and political science.
The city had a strong culture of entrepreneurship. Every youngster dreamt of his own factory.
Mittal borrowed Rs 20,000 from his father and set up a unit to make cycle parts. Within three years, he had added two more units: one to make yarn and the other to make stainless steel sheets for use in surgical equipment.
Mittal would travel in trucks along with his consignments. Longer journeys were by train because he couldn't afford air tickets.
He worked 16 to 18 hours a day and stayed in inexpensive hotels when he travelled outside Ludhiana. But the payback wasn't great.
Mittal would visit Mumbai frequently in those days to find buyers for his stainless steel sheets.
He would sit on low stools inside small cubicles in Abdul Rehman Street and make his pitch to traders. The experiences led him to discover the salesman in him.
Explanation:
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