Started by Mr. Arun Lakshminarayan, Dynavac India Private Limited is a leading, Coimbatore based company that offers premium products in the Heavy Duty Industrial Suction Cleaning Field and is one of the best in the industrial suction cleaning space. Today, Dynavac has dealers all over is a name to be trusted and offers premium Centralized Vacuum Cleaners and Vacuum Conveyors along with customizing products to suit the Clients exact requirement. And from sensing an opportunity to executing it and making it what it is today, Mr. Arun Lakshminarayan gives the entire credit behind this enormous success to his employees!
Mr. Arun Lakshminarayan is the owner of Dynavac and shares with us his valuable time, theories and insights about his company and its success.
Kindly give our readers a bit about yourself and your company.
I am a BE in Mechanical engineering from PSG College of Technology in Coimbatore and a MBA from Texas A&M University. Having experienced running an Engineering Industry, a School, a Commercial Real Estate Company and an Organic Farm, I somehow sensed an opportunity in the industrial suction cleaning field. And that was the beginning!
Why Coimbatore?
Coimbatore is an ideal location as it has very good Industrial Infrastructure. The many colleges of Coimbatore provide a steady stream of engineering graduates.
What ignited the spark in you to start a new business venture or to make significant changes in an existing business?
We sensed an opportunity in the Industrial Suction Cleaning Space as there were very few unorganized players in this highly fragmented market. The challenge of catering to various industries and various requirements keep us engaged and interested. Every day, we come across new applications where we can put our minds to work and come up with a novel solution for our clients.
How important have good employees been to your success?
Very Important. Good employees are very hard to come by and even harder to retain. As an employer, we have to be sincere in our appreciation and dignified in our treatment of our employees. Otherwise, we will certainly loose them. Good employees are the most valuable asset to us.
What three pieces of advice would you give to college students who want to become entrepreneurs?
1.Believe in yourself. 2.Seek feedback, but think before you act on it. 3.Do not do anything to others that you would not want done to you.
If you had the chance to start your career over again, what would you do differently?
I would work on my patience.
What would you say are the top three skills needed to be a successful entrepreneur?
1.Understanding peoples strengths and weaknesses and getting the best out of them. 2.Anticipating future trends. 3.Networking.
How long do you stick with an idea before giving up?
When I hit a brick wall of thought.
How many hours do you work a day on average?
8 hours
How has being an entrepreneur affected your family life?
Not at all.
What motivates you?
The need to create wealth.
How do you generate new ideas?
Deliberate thoughts.
What is your greatest fear, and how do you manage fear?
Death. Total Surrender to the Almighty.
What are your ideals?
Be fair to others.
How do you define success?
Wealth with good health and happiness.
What is the best way to achieve long-term success?
Consistently work on your business.
Where did your organization’s funding/capital come from and how did you go about getting it? How did you obtain investors for your venture?
Family savings and bank loans.
How do you build a successful customer base?
Prompt and high quality service and dependable machinery.
How did you decide on the location for your business?
It’s my home town and I needn’t think anything more.
Do you believe there is some sort of pattern or formula to becoming a successful entrepreneur?
Dedication to your goals.
If you could talk to one person from history, who would it be and why?
No body. I would not know what to ask.
Who has been your greatest inspiration?
Warren Buffet
What book has inspired you the most? Or what is your favorite book?
Built to Last
What is your favorite aspect of being an entrepreneur?
The creative rush
To what do you most attribute your success? What would say are the five key elements for starting and running a successful business?
A clear vision Consistent pursuit Flexibility Honesty Employees
What has been your most satisfying moment in business?
Not sure
What do you feel is the major difference between entrepreneurs and those who work for someone else?
Entrepreneurs believe that they can face the odds and succeed. Those who work for someone else do not wish to take the risk.
How do you go about marketing your business? What has been your most successful form of marketing?
Internet
What kind of culture exists in your organization? How did you establish this tone and why did you institute this particular type of culture?
Honesty and transparency. Consistent decision making based on honesty and transparency and zero tolerance to deviation from this culture.
In one word, characterize your life as an entrepreneur.
Challenging
What are some of the biggest mistakes you’ve made?
Limiting myself by drawing artificial walls of doubt, being impatient, not being aggressive enough.
How can you prevent mistakes or do damage control?
Learn from other peoples mistakes and be honest about your failures and rectify.
What are your hobbies? What do you do in your non-work time?
Being with my family, Birding
What makes you happy?
A lot of things
What sacrifices have you had to make to be a successful entrepreneur?
Not being able to live in the wilderness
Excluding yours, what company or business do you admire the most?
Reliance Industries
Where you see yourself and your business in 10 years or 20 years?
Global dominance
If you were conducting this interview, what question would you ask?
What, in your opinion, is the key to retaining high performance employees?