Paytm is a popular and one of the original e-wallets that can be found on practically everyone’s smartphone nowadays. It is one of India’s largest corporations, however, most of us are unaware of Vijay Shekhar Sharma’s struggle and efforts in founding Paytm. He started with just Rs. 10 and is now the owner and CEO of a $3 billion firm.
Vijay finished his education at the age of 14 in a Hindi medium school, making it tough for him to write and read in English. Soon, he discovers that knowing Basic English is necessary for entrance to a good college.
As per start-up talky reports, Vijay’s life was turned around when he came across Forbes magazine which enlightened him about the success stories of mega-brands such as Apple, Intel, and HP. Each of the businesses had one thing in common: they were all created out of garages in the basement!
As per start-up talky reports, Vijay later expressed an interest in visiting Silicon Valley but wasn’t achievable, due to a lack of funds and resources. Despite his failure, it taught Vijay that even if he couldn’t visit Silicon Valley, he could build one in India! His parents insisted that he get a legitimate career, but his unwavering commitment to starting a new business never enabled him to stay in typical employment for long!
As per the CEO magazine’s reports, he was highly motivated by Yahoo. Vijay and his buddies founded XS Communications, a content management company when other college students were dreaming of their placements. Many big newspapers, including The Indian Express, used its CMS.
He borrowed Rs. 8 lakhs from a bank with a 24 percent interest rate in order to raise capital for his company. He became locked in an unplayable debt cycle as a result of this. To pay off his debts, he had little choice but to take odd jobs.
His achievements were made possible by his hard work, perseverance, and determination to succeed. Things were difficult when he founded One97, the parent business of Paytm, but things began to improve after that.
A company is truly considered successful when it begins to offer internet wallet services, as well as 24-hour customer service, and builds confidence among its clients. Paytm’s concept requires user trust, which Vijay earned through great customer service.
Vijay Shekhar Sharma demonstrates that if you are determined and follow your passion, you can achieve anything. Life will present you with opportunities; it is up to you to decide how you will use them. Always follow your heart and take calculated chances in life.
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