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Struggle and Failure Story of Famous Entrepreneur – Ratan Tata

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"There are many things that, if I have to relive, maybe I will do it another way. But I would not like to look back and think what I have not been able to do."

Ratan Tata himself is a name of recognition whose brand name symbolizes a great Indian entrepreneur, investor, and philanthropist who has been recognized all over the world for being the former chairperson of Tata Sons and Tata Groups in Mumbai, Maharashtra. He has been the proud receiver of the highest civilian awards of India namely Padma Bhushan and Padma Vibhushan in 2000 and 2008 respectively. Ratan Tata was born on December 27th, 1937 in Bombay, Maharashtra, and currently surviving at an age of 83 years. As per Forbes, the estimated net worth of Ratan Tata is more than $ 1 billion.

Failures faced by Ratan Tata are hereby mentioned with the following list of points:

1. Ratan Tata was bound to close an assignment of nurturing a loss-making unit – Empress Mill during the year 1977 due to not sanctioning 50 lakhs rupees of fund from the core management. The unit was dreamed to be revolutionary but it got unfortunately closed making Ratan feel depressed.

"Take the stones people throw at you. And use them to build a monument."

2. Ratan Tata faced several public criticisms after being declared the next successor of Tata Group of Industries by JRD Tata in the year 1981. Public along with the Tata Groups employees, investors, and shareholders as well believed him to be a fresher for handling the sole responsibility of such a big group of companies.

"If you want to walk fast, walk alone. But if you want to walk far, walk together"

3. Ratan Tata decided to come up in the car market during the year 1998 and launched his first car model with the name Tata Indica which failed completely as people never shown their interest in buying the car.

"Ups and downs in life are very important to keep us going because a straight line even in an ECG means we are not alive."

4. Rata Tata even decided to sell the entire company during the year 1999 and accordingly approached Ford Motors for purchasing the same. Being an owner of such a biggest group of companies, Tata was insulted by the Ford owner which was an extremely troublesome and frustrating situation for such a big entrepreneur.

"None can destroy iron, but its own rust can. Likewise, none can destroy a person but his own mindset can."

5. Ford insulted Ratan Tata by stating “When you don’t know anything about passenger cars, why did you start the business”. These words were promptly replied by Ratan Tata when he saved Ford from bankruptcy during the year 2008 by buying the Jaguar-LandRover unit for which even Tata has to bear a loss of 2500 crores.

In his own word Apart from values and ethics which I have tried to live by, the legacy I would like to leave behind is a very simple one – that I have always stood up for what I consider to be the right thing, and I have tried to be as fair and equitable as I could be.”

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References: indiatimes.com, livemint.com, successstory.com, yourstory.com

I don’t believe in taking the right decisions. I take decisions and then make them right.

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