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During the series, he opened up about taking the risk of starting Veeba after losing all his money at his restaurant business.
Viraj Bahl started Veeba in 2013. (Photo Credits: Instagram)
Viraj Bahl, the founder and managing director of VRB Consumer Products Pvt Ltd or Veeba Foods, recently stepped into the business reality show Shark Tank India. Now, the entrepreneur shared his journey on the Pitch Prep Series of Shark Tank India. His success journey was nothing short of resilience, determination, and entrepreneurial spirit. During the series, he opened up about taking the risk of starting Veeba after losing all his money at his restaurant business. He also revealed he started his new venture by selling his wife’s house to finance the business.
Calling himself a failed entrepreneur, he proudly said he learned from his failures. In the video shared by Shark Tank India, entrepreneur Viraj said that he started his entrepreneurial journey in 2008 with a restaurant chain. He thanked God because if his business wouldn’t have failed, he couldn’t have started his sauce company.
His second entrepreneurial journey, Veeba Foods, which is now one of the biggest sauce and mayonnaise brands in the country, started in 2013. He started the company “Veeba” after his mother, Vibha Bahl, focused on delivering high-quality sauces.
Sharing his entrepreneurial journey on the Pitch Prep Series of Shark Tank India, Viraj Bahl shared, “After the restaurant business shut down, I was completely broke. There was no money. When I thought I wanted to get into the sauce business, not many spouses agreed to a decision like this. I went to my wife and said, ‘Riddhima, I want to sell our house and start a business making sauce,’ but she didn’t take even 30 seconds to agree to what I wanted to do. She said, ‘If this is your passion, let’s do this.’ This is how the startup money for Veeba came. So I sold my wife’s house and began the business in my mother’s name.”
He added that this shows my risk-taking capabilities, adding the situation was such that he didn’t have the money to pay salaries, with zero orders for the first two years.
Elaborating further, he said, “The first 1-2 years of Veeba were very challenging for me. Any founder gets shaken when he realises he doesn’t have the money to pay salaries. I had started a huge factory but couldn’t bring in the business. I had spent all my money on this. Our first order came two years after I started the company. Dominos approached us for about 70-ton sauce.”
“As an entrepreneur, the only difference between a good idea and a great idea is execution. My life’s only motto is ‘Boring is sexy.’ To be successful, you have to work hard daily for years to earn success. My formula is intuition backed with data.”
Advising other entrepreneurs, he said, “Two things are important for me. Passion plus perseverance because you will get tested. This is your success formula. And second, is knowing your domain. It’s a journey, you have to be patient. Success doesn’t come overnight. Try and have fun on your journey.”
- Location :
Delhi, India, India
