Beautiful story on the rise of Thyrocare....Dr Velumani's speech at recently held TiE Chennai's Annual Conference

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

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

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

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

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

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

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