5-point someone | Latest News India - Hindustan Times
close_game
close_game

5-point someone

Hindustan Times | ByNaomi Canton, Mumbai
Jul 07, 2008 10:42 PM IST

The industry has high staff attrition rates, but Sheth is trying to combat that with generous performance-based incentives. Today, margins are becoming thinner as advertising costs balloon.

Got the idea from

HT Image
HT Image

:

Hindustan Times - your fastest source for breaking news! Read now.

In a nutshell, Sheth chose to open a travel agency because that was all he knew. At the age of 16, he had taken 93 children on a tour around Nepal all by himself as secretary of a children's welfare club. So when he arrived in Mumbai in 1976, he targeted travel agents for work.

Starting doubts:
Even though Sheth didn't know whether there would be takers for his premium tours, he went ahead anyway.

Money problems:
Without a track record, Sheth was forced to run his business without borrowing money until 1985, but that year, he applied for a bank loan to open new branches and has since kept borrowing to expand.

Other problems:
The industry has high staff attrition rates, but Sheth is trying to combat that with generous performance-based incentives. Today, margins are becoming thinner as advertising costs balloon.

Outstanding personal qualities:
Delivers: Sheth may charge high prices, but never cuts corners. Ambitious: Sheth always wanted to be a market leader, not one of many players.

Street-smart: He recognised a niche market with potential and targeted Gujarati's who had the money and the yen to travel.

Hands-on leadership: Sheth is fully involved in the day-to-day operations. Customer-focus: Sheth moved office to be located closer to his potential client base.

Unveiling Elections 2024: The Big Picture', a fresh segment in HT's talk show 'The Interview with Kumkum Chadha', where leaders across the political spectrum discuss the upcoming general elections. Watch now!

Get Current Updates on India News, Election 2024, Mukhtar Ansari Death News Live, Bihar Board 10th Result 2024 Live along with Latest News and Top Headlines from India and around the world.
SHARE THIS ARTICLE ON
Share this article
SHARE
Story Saved
Live Score
OPEN APP
Saved Articles
Following
My Reads
Sign out
New Delhi 0C
Friday, March 29, 2024
Start 14 Days Free Trial Subscribe Now
Follow Us On