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

warikoo

24 Oct 202319:51

Summary

TLDRThe 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.

Outlines

00:00

😀 Personal Financial Milestone

The speaker recounts the significant moment in December 2017 when their bank balance exceeded one crore rupees for the first time. They describe this as a non-sponsorship video and share a screenshot to mark the occasion. The speaker then takes the audience back to 2011, discussing their journey from being a consultant to becoming the Founding CEO of Groupon India, a large US company entering the Indian market. They reflect on their financial situation at the time, which was modest compared to their later success, and how they had made several mistakes that affected their savings.

05:01

😉 Entrepreneurial Growth and Challenges

The speaker narrates their experience as the CEO of Groupon India, detailing the growth of their salary from a modest amount to a significant increase, nearly reaching a crore. They discuss the challenges of managing personal finances amidst various expenses, including a business loan, car purchases, and education loans. The speaker also delves into their involvement with startups and the decisions they made regarding investments, emphasizing the importance of understanding the market and culture in different countries, particularly Indonesia, where they observed advanced online retail compared to India at the time.

10:03

😔 Financial Struggles and Turning Points

The speaker candidly shares the financial struggles they faced in 2016, including the depletion of their savings and the challenges of managing a business with dwindling funds. They describe the difficult decisions made, such as salary cuts for founders, and the impact on their team and personal life. The speaker also discusses the potential for a new round of funding and the opportunity to liquidate their holdings in the company, which they eventually did, leading to a significant financial recovery in November 2017.

15:04

🚀 Financial Recovery and Lessons Learned

The speaker concludes by reflecting on the financial recovery that began with the sale of their stake in the company, which allowed them to stabilize their family's financial situation. They express gratitude for the support received and the realization of the importance of money in life. The speaker shares the growth of their net worth from the critical incident to the present, highlighting the power of investment and the lessons learned about the value of money and the necessity of managing it wisely.

Mindmap

Keywords

💡Net Banking

Net banking refers to online banking services provided by banks and financial institutions that allow customers to conduct financial transactions over the internet. In the video, the speaker mentions opening a net banking app, which is a significant step in managing their financial life, as it leads to the discovery of their first-ever bank balance exceeding one crore rupees.

💡Screen Shot

A screen shot is an image captured by a device's screen output to be saved as a computer file. The speaker describes taking a screen shot of their bank balance, which was a special moment for them as it marked a financial milestone in their life.

💡Bank Balance

Bank balance refers to the amount of money available in a bank account. The video's theme revolves around the speaker's financial journey, and the bank balance is a central concept, exemplified by the moment when the speaker's bank balance first exceeded one crore rupees.

💡Groupon

Groupon is an American e-commerce platform that provides discounted shopping by offering coupons and group purchasing. The speaker mentions Groupon's entry into India and their role as the founding CEO of Groupon India, which is a pivotal point in their professional journey.

💡Entrepreneurship

Entrepreneurship is the process of designing, launching, and running a new business. The video's speaker reflects on their entrepreneurial ventures, including starting a business after a successful career in consulting and their experiences as a founder.

💡Investment

Investment refers to the allocation of money in the expectation of financial returns. The speaker discusses various investments they made, including in startups and their own business, which played a significant role in their financial growth.

💡Salary

Salary is a fixed remuneration paid to an employee by an employer in exchange for work performed. The video's narrative includes the speaker's salary increases over time, which contributed to their financial status and ability to invest.

💡Financial Planning

Financial planning is the process of managing one's finances to meet current and future needs. The speaker's story is an example of financial planning, as they discuss their journey from managing a limited salary to achieving a significant bank balance through wise investments and financial decisions.

💡Loans

Loans are amounts of money borrowed from a lender, which the borrower is expected to repay with interest. The speaker mentions taking loans for various purposes, such as business loans and education loans, which are part of their financial management strategy.

💡Financial Crisis

A financial crisis is a situation where one faces a severe shortage of funds, leading to financial instability. The video describes a period of financial crisis for the speaker, where they had to manage their expenses carefully and even sell assets to meet financial needs.

💡Funding

Funding refers to the money provided for a project or business. In the script, the speaker talks about receiving funding for their business, which was crucial during challenging times and helped in sustaining the operations.

💡Liquidity

Liquidity refers to the ability of an asset to be readily converted into cash without affecting its price. The speaker discusses the importance of liquidity when they had the opportunity to liquidate their holdings for a significant amount of money, which helped them recover from a financial crisis.

💡Wealth Management

Wealth management is a broad range of services provided to help clients maintain and grow their wealth. The speaker's narrative on increasing their net worth from one crore to nearly 135 crores in six years exemplifies effective wealth management and investment strategies.

Highlights

Opened an HDFC bank account in December 2017 and took a screenshot of the first time their bank balance showed over one crore rupees.

The journey from starting as the CEO of Groupon India in 2011 with an annual salary of one lakh rupees to a significant increase in salary and responsibilities.

The speaker had made several financial mistakes, including taking loans for business and education, which affected their savings.

The experience of managing Groupon's business in multiple countries including Indonesia, Philippines, and Thailand, and the cultural differences observed.

The advanced state of online retail in Indonesia compared to India at that time, with luxurious malls and top brands despite the country not being as affluent.

The idea of bringing the online recharge revolution that was happening in India to Indonesia, considering the similar potential.

The speaker's role in executing the idea of online recharge in India and the challenges faced in replicating the model in Indonesia.

The financial struggles faced by the company in 2016, including the depletion of funds and the measures taken to cut costs, including salary reductions.

The importance of having a backup plan and not relying solely on one's own business for financial stability.

The sale of half of the speaker's ownership in the company in 2017 due to financial constraints, which helped in stabilizing their personal life.

The realization of the value of money and the need to respect and manage it wisely after facing financial hardships.

The growth of the speaker's net worth from the incident with the one crore to nearly 135 crores in six years, demonstrating the power of smart investment.

The speaker's transition from focusing solely on startup investments to diversifying investments across various domains including the stock market and international ventures.

The release of two books by the speaker, 'Do Epic Shit' and 'Get Epic Shit Done', sharing life lessons and reflections.

The speaker's advice on the importance of understanding and valuing the first crore earned and using it as a stepping stone for further growth.