If I can do it, YOU CAN TOO! | The Journey to my FIRST CRORE! | Ankur Warikoo Hindi

Summary

The speaker narrates their financial journey from opening a bank account in 2017 to achieving a balance of over one crore rupees. They recount their experience as the founding CEO of Groupon India, their initial salary, and the growth in their financial situation through investments and business decisions. The narrative includes the challenges faced, such as the company's financial struggles and personal sacrifices, culminating in a significant financial turnaround in 2017 after selling part of their ownership in the company. The story emphasizes the importance of valuing money, making wise investments, and the transformative power of a single million rupees in one's life.

Takeaways

• 😀 The speaker opened a bank account in December 2017 and took a screenshot of their account balance exceeding one crore for the first time in their life.
• 💼 The speaker narrates their journey from being a consultant to becoming the Founding CEO of Groupon India in 2011, which was a significant career shift.
• 🏢 The speaker discusses the challenges and learnings from managing Groupon's operations not just in India but also in Southeast Asian countries like Indonesia, the Philippines, and Thailand.
• 🌐 The speaker found the online retail sector in Indonesia to be surprisingly advanced compared to India at that time, with high-end malls and a lack of online travel services.
• 💡 The speaker had an idea to bring the success of online recharge and payment services from India to Indonesia, which was a gap in the Indonesian market.
• 📈 The speaker's salary jumped from 48 lakhs to nearly a crore, reflecting a significant increase in their financial status.
• 💸 Despite the high salary, the speaker faced financial difficulties due to various expenses and investments, including a business loan, wedding expenses, and education loans.
• 📉 The speaker's company faced financial struggles, leading to salary cuts and a need for cost reduction, which affected the team and the company's operations.
• 💰 The speaker emphasizes the importance of valuing money and not taking it for granted after experiencing financial hardships.
• 📚 The speaker has released two books, 'Do Epic Shit' and 'Get Epic Shit Done', sharing life lessons and reflections from their experiences.
• 🚀 The speaker's net worth has grown significantly in the past six years, from the first crore to nearly 135 crores, highlighting the power of smart investments and financial management.

Q & A

What significant event occurred in the speaker's life on December 18, 2017?

On December 18, 2017, the speaker's bank account balance exceeded one crore rupees for the first time in their life, which was a special moment captured in a screenshot.

What was the speaker's initial role when they joined Groupon in India in 2011?

The speaker joined Groupon in India in 2011 as the Founding CEO, with an initial annual target of one lakh rupees.

Why did the speaker consider buying a house and a car as good investments at that time?

The speaker thought that buying a house and a car were good investments because they believed in the value of tangible assets and were influenced by societal norms.

What was the speaker's financial situation like before joining Groupon?

Before joining Groupon, the speaker had a good income from their consulting job but had made several financial mistakes, resulting in no savings and a significant business loan from their father.

How did the speaker's role evolve in Groupon over the years?

The speaker's role in Groupon evolved from being the Founding CEO in India to having responsibilities that included overseeing operations in Indonesia, the Philippines, and Thailand.

What was the speaker's observation about the online retail landscape in Indonesia compared to India?

The speaker observed that Indonesia had a more advanced online retail landscape compared to India at that time, with large-scale, luxurious malls and top brands, despite not being as affluent a country.

What was the idea that the speaker proposed to the CEO of Groupon Indonesia and the CEO of Groupon's investment fund in Indonesia?

The speaker proposed the idea of bringing the online recharge revolution that was happening in India to Indonesia, as they believed it would be successful there as well.

How did the speaker's financial situation change after a significant salary increase in 2014?

After the salary increase in 2014, the speaker's income jumped from 48 lakhs to 97 lakhs, almost reaching a crore, but they still faced financial challenges due to various expenses and loans.

What was the impact of the speaker's decision to invest in their own company, Groupon India, when it became a 'near buy'?

The speaker invested their maximum savings, 70 lakhs, into Groupon India when it became a 'near buy', which was a significant financial decision that affected their personal finances.

What challenges did the speaker face in 2016, and how did they cope with the financial strain?

In 2016, the speaker faced financial strain as their funds were running out due to various expenses and the company's financial struggles. They had to cut costs and even took a pay cut to survive the tough times.

How did the speaker's life change after selling half of their ownership in the company in November 2017?

After selling half of their ownership in the company for 1.3 crores in November 2017, the speaker was able to stabilize their personal finances and get their life back on track, paying off loans and managing their expenses.