As a young boy, Prem Nair from Trivandrum used to frequent his friend's house to chat with the latter's father, who shared his experiences of an entrepreneur-from dealing with tough clients to striking a successful deal to handling a troublesome employee. These childhood aspirations of becoming a successful businessman played a vital role in nourishing Nair's dream, which was fulfilled when he started his own company, Scot Technologies.

After completing his BTech and MBA from the University of Kerala, the wheels of destiny took Nair to Mumbai, where he worked in a company's mechanical division for few years. Later, he went to the Gulf to work in Qatar Petroleum as a mechanical engineer in the company's project management division.

Cautious entry into business
After gathering experience from Gulf, Nair returned to India and started a fabrication unit. Nair ran the unit for eight months which was shut due to labor problems. “I was really upset and confused that time, but I did not give up on my ambition,” Nair recalled.

He once again sought and found a job at Steel Industries Limited Kerala (SILK). He worked as a procurement manager there for three years and then got married. He said that although this was a happy period in his life, he still harbored the notion of doing something different.

While working at SILK, he did a software course and keenly started observing the happenings in the IT market by reading business dailies and magazines. At this juncture in his life, he decided to start a business in this space. One fine day, when he told his family members that he is going to quit the job, they were reluctant that he is quitting a secure job.

“I always thought it was not what I want to be. But, I took it as a great learning experience. I observed the way the employees react to management's decision, and the way a business is run. Those nine years of work experience was second schooling for me,” Nair nostalgically remarked.

Turning Point
Nair started his business in the ever-changing IT industry with a lot of caution. “In 1995, when the IT market was booming, I started selling Microsoft and Symantec products with one employee and with an investment of Rs 60,000. The turnover in the first year was Rs 6 lakh. I used to work day and night, without taking any break,” he mentioned.

It took two years for Nair to stabilize the business, to learn all the nitty-gritty of the trade and to appoint a girl at the front office reception. “Initially, I had lot of problem with delayed payment and other financial issues.”

But he kept preserving. “For anyone who is stepping into business, determination and clarity of thought are very much essential. Most importantly, he should not be shaken up by small issues and should always keep the thoughts around his aim. To the extent possible, one's own money should be deployed into the business instead of other people's money to get the real commitment towards work,” Prem noted.

His USP: Ethics
There are lots of new entrants into the channel market who do not have any great ambition. They just have a short-term goal of making money mainly by undercutting the price. Nair saw how such players would be present in the market for few months and would disappear when they got a job.

“This should not be the attitude of a businessman. Moreover, it sends wrong signals to the minds of the customers,” he remarked. He feels there should be an effective control mechanism in the market.

In business, ethics is the most important thing. The more you follow it, the more business will come to you in time, Nair said.

In about 15 years time, Nair grew his business from an annual turnover of Rs 6 lakh to Rs 9.5 crore. Currently, this team strength stands at 24 people.

During the initial phase of business and tough times, his wife Manjula, a PhD in Biotechnology, has been a very strong support to him. She took the entire responsibility of managing family affairs which helped Nair focusing on business. At present, she works as a scientist at Rajiv Gandhi Center for Biotechnology.

Managing Business
Besides dealing with licensed software products and software solutions, Nair has now started distribution of Fuji digicams, distribution of Aircel products in Trivandrum, and is an authorized reseller of Apple products. He owns a 1,000 Sq Ft Apple showroom at Trivandrum. In addition, he runs a franchise of Tata Group's CMC training academy.

“I spend about two hours every day for each business. I go around, collect the daily reports and give instructions to my team. I always believe in hiring the best human resource, which is the key to success for any business. My team is very efficient in execution of any plans and achieving the set goals. They are my strength,” Nair stated.

One of his friends always tells him, “Prem, you never sleep.” To this, Nair replies, “When you are 100 percent involved in your business and committed to expand it and succeed, you hardly find the time to think of something else”.

Nair makes time for routine exercises, meditation and jogging to energize himself. Reading business magazines is one of his favorite passion. These days whenever he finds time, Nair catches up movies of Shahrukh Khan and Mohanlal and ensures that he takes his family for a picnic to some nearby location to spend some quality time once in two months. After all, a family that enjoys together truly stays together.

VASUDEVAN N
(vasudevann@cybermedia.co.in)

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