Hyderabad: Kerala’s Mustafa PC has proved to the world that to establish a $100 million company, one need not come from any business family or to use the family assets.
Narrating the inspiring story of entrepreneurship, KC Mustafa, son of a farm labourer, said that his first salary was Rs.14000. When he gave his salary to his father he said, “I have not earned this much money in my whole life which you earned in a month.”
To set up his company, Mustafa had to face ups and downs in his life but he has not despaired.
Narrating his story Mustafa, CEO of iD Fresh Food, said, “I had failed in class 6 and wanted to leave the education to work with my father. But my teacher had not allowed me to leave the education and provided me with free tuition.”
Once Mustafa completed his school education, his teacher had paid the college fees to get him admitted to the college and he continued his education.
After the education he got Rs. 14000 as his first salary which he gave to his father. Mustafa was able to repay the 2 lakh debt of his father in two years.
“There was a time when it was a dream for us to have three-time meals,” Mustafa said.
During his employment, one of his cousin brothers had told him about the complaints received regarding the Idli Dosa batter which prompted him to take interest in that work to better its performance.
At that moment Mustafa realized that he has business potential and he must start his own business.
Mustafa launched a fresh food company with his brothers but the whole investment has gone due to an accident.
He had not given up hope he took initiative once again to re-establish his business – iD Fresh Food. “At this juncture, I realized that the business needs my presence for full time and hence I decided to quit my job to give full time to the company,” Mustafa said.
Mustafa gave shares to his company’s employees and promised them that one day he would make them crorepatis. They could not believe it and started laughing.
But after some time his company started progressing rapidly and the promise he made to his employees became a reality.
His company – iD Fresh Food – has earned a status of $ 100 million company today.
Impressed with his method of business Harvard university had invited him to address its students in 2018 which he did.