It is a general belief that successful people in every field are blessed with talent or are just lucky. But the fact is successful people work hard, work long, and work smart.
Marissa Ann Mayer, the current president and CEO of Yahoo, used to work 130 hours per week while working at Google. India-born Indra Krishnamurthy Nooyi, chairman and chief executive officer of PepsiCo, worked midnight to 5 a.m. as a receptionist to earn money so that she could complete her master’s degree at Yale University. In 1958, Qimat Rai Gupta left his education midway and founded Electric Trading Operations in the electric wholesale market of Old Delhi, India. With an investment of Rs.10000 ($150), he started Havells Industries. Today, Havells is a billion-dollar company. In his own words: “overnight success means 25 years of hard work, devotion and dedication.”
The founder and CEO of the Kolkata, India–based Tega Industries, Madan Mohanka’s story is unique. When he went into business, he had the right combination—hailing from a business family, having an engineering degree, getting an MBA from IIM Ahmedabad, and having a foreign collaborator as a joint partner. Yet, this combination failed miserably. He was witnessing the imminent closure of his company in 1979, but like the epic hero Odysseus, he never lost focus for a moment. He kept at it. Some three decades later, it is Madan’s die-hard optimism that saw Tega Industries become the second largest player in the world in rubber mill lining products for the mining industry.
In her book Stay Hungry, Stay Foolish, Rashmi Bansal (IIMA Graduate) depicted Madan Mohanka’s hard-won story very aptly. She said Madan faced all hurdles and challenges starting from scratch, but then Madan had what you call an “obsession.” Over the last three decades, Madan built a strong foundation combining three technologies, namely, Mechanical Engineering, Rubber (Polymer) Technology, and Mineral Processing and Grinding. Over the last five to six years, Tega accepted challenges, grabbed overseas marketing opportunities, and maintained consistent growth keeping an eye on the margins.
Tega’s presence in 19 international locations has enabled it to increase a turnover of $4 million in 2009 to $120 million in 2014.
According to Mehul Mohanka, the U.S.-trained MBA son, the stage is now set for organic and inorganic growth: organically building up larger capabilities and inorganically looking for acquisitions for successful integration with Tega’s culture, values, and philosophy.