here's how Lachhman Das Mittal started Sonalika Tractors International with just Rs 5000 & went on to become one of India's richest

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From working as a LIC agent to getting bankrupt in his business to becoming a billionaire with his second innings - here's how Lachhman Das Mittal started Sonalika Tractors International with just Rs 5000 & went on to become one of India's richest.

Born in a poor family in a small village in Punjab, Lachhman's father worked on small commissions in local mandi that didn’t pay much.

However, his father always #supported him with everything he needed. With a lot of savings & borrowings, he managed to pursue a degree in MA English, and earned a gold medal for showing academic excellence.

Lachhman found it difficult to pay back to his friends whom he took the debt from, even after finishing his studies.

• Working as an insurance agent:

Being a gold medalist, Lachhman still #struggled to get a good job until he found a place in LIC in 1955.

LIC, fortunately provided him with enough salary to clear his debts & live out of poverty.

• When you look for something bigger, big things happen:

Lachhman always had the ambition of making it big. He started looking out for something better outside LIC & ended up setting up his own business of #agricultural machines.

• Good things & good times take time:

His business turned against him & left him #bankrupt!

To jump up again and move on, as any entrepreneur would, he applied for a Maruti dealership to cover up his losses.

However, he received rejection every time he applied. The best part is, he never thought of giving up despite many #defeats.

• A man who wants to turn the tide in favour of him, makes it happen:

- Here's the turning point of Lachhman's life: One day he saw a Japanese machine separating wheat from the hay & realised the opportunity to develop a thresher for the #farmers.

He started by assembling two tractors and did 2 years of market research. The results were positive. However, to scale this project, Lachhman needed capital.

He managed to collect the loan of Rs 22 cr & in 1996 laid the foundation of Sonalika tractors in Jalandhar.

Within 8 years of execution, he became popular all over the country for his product named Sonalika, which went on to become one of the biggest agricultural brands of #india.

Today, Sonalika exports their tractors to 74 countries & Lacchman owns a net worth of $2.2 bn!!

Anyone can turn their fate into what they want based on the attitude of never giving up & constantly having a learner's mindset with an actionable goal. Agree?

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