Born in a small village in India, Vinod “Vin” Gupta can be termed as a self-made business expert. He graduated from the Indian Institute of technology with a degree in Agricultural Engineering and later on acquired a scholarship from the University of Nebraska, where he earned his Masters degree in Agricultural Engineering and Business. His first attempt in business began as a result of shrewd observation and research into the existing market gaps.
His career began at Commodore Corporation where he was tasked with supplying a thorough list of all the mobile home dealers in the United States. Vin Gupta went on to acquire a bank loan of $100 and invest in direct mail marketing with which numerous clients placed their orders showing their interest in his product. That became the creation of American Business Information. The company saw tremendous success, growing from a bank loan to $680 million.
Vin Gupta confesses that American Business Information became profitable before its initiation. Several clients expressed their interest in the product and placed pre-orders. This emphasizes his point that a great idea requires a real market to succeed. His product had a market demand and prior to his investment. He engaged in wide-ranged market research to retain the firm’s profit status. Vin Gupta advises young entrepreneurs to limit the risks within their scope of investment if they invest a lot of funds in the project.
Larger risks can be taken if an investment is not widespread. Vin admits that he acquired his first customer from the pre-orders he received. InfoGroup has absorbed other companies and expanded other sectors in technology including mapping services, applications, and concierge services. According to Vin Gupta, there is a growing demand for the database, even with the absent knowledge of the product’s consumers. The most insightful book he has read is Managing by Harry Geneen. Read This Article for more information.