Only a few men have the ability to redefine the definition of success. One amongst them is the man who brought a revolution in the IT-sector of India- Mr. N. R. Narayana Murthy, the Co-Founder, Executive Chairman and Additional Director of the global software consulting company, InfoSys. The IT industry in India, would never have been the way it is today without this one man. His story is an inspiration to every entrepreneur who dreams big.
It has been over three decades since Infosys has been standing as pioneering IT company in the global market. The success story of this great man and his venture speaks of his persistent tireless efforts and labor. His story is not only motivating, but iconic which every individual should take inspiration from. Take a peek into the unbelievable yet achievable success story of the IT Wizard, MR. N.R. Narayana Murthy.
Early Life N.R Murthy
Mr. Narayana Murthy was born on 20th August, 1946 in Mysore, Karnataka. After graduating from the National Institute of Engineering, Mysore University in the year 1967, he pursued M. Tech from the IIT Kanpur in 1969.
Before setting the journey of Infosys, Murthy worked as Chief System Programmer at IIM Ahmadabad. After attaining quality experience from the job, he ventured a company named Softronics. But the company couldn’t make its way to success. It lasted only for a year and half. After the failure he then joined Patni Computer Systems (merged with IGATE) in Pune.
…and this is how he laid the foundation of the huge multinational enterprise!
There was an increased demand of customized software in the late 1970s and early 1980s.The founders of Infosys took the demand as an opportunity, realizing that they could meet the increasing demand.
It was in 1981, when Murthy partnered with the 6 software professionals and laid the foundation of Infosys with an initial capital of $250. Not many people know that Mr Murthy borrowed this sum from his wife. Though unbelievable, but its true that he never compromised with giving his best effort to get the ultimate result and in this regard he never cared about criticisms or encouraged societal barriers to come up his way of accomplishing victory.
Though the tiny sum of $250 wasn’t enough to keep the company running for a longer period, but the policy of spending less than what is earned, added to the success of the company. This simple formula kept the company within profits from the start and gradually it started to progress. But, the journey was slow and didn’t garner name and fame on the part of the company right from the very beginning.
The Adversities and Challenges of the Journey
The journey of taking Infosys to great heights wasn’t easy. Despite its phenomenal and remarkable success today, the company took too long to develop. Mr. Murthy attributes this to the earlier economic policies of India, which according to him were not advantageous to entrepreneurship.
In those days it took them over 15 to 24 months to get a computer. Even getting a loan was no easy either. Mr. Murthy mentions that they had stayed in inexpensive hotels and had to walk long distances, just in order to save money. But finally, all his efforts, pain and dedication paid off and he could pave the way for the future success for his iconic company.
Even there came a time when Mr. Murthy and his colleagues felt like giving up over the company. It was in 1990 when the company was floundering. They had purchased offers for the company, which most of his colleagues thought should be considered since the company wasn’t making too much headway. This brought a sense of despondency to Mr. Murthy and his co-venturers. But with hope to see a light of success, he took a tough decision to buy the company in his name.
It was the economic reforms in 1990s that accelerated the growth of Infosys. The changes in the financial regulations laid a huge effect. As now, the venturers could easily travel abroad, import and get foreign consultants. But this was not the scenarios decades back, which created a big hindrance in the way of its success of the dream-child of Mr. N.R. Narayana Murthy.
The First Hit
Mr. Murthy took his first customer as a great opportunity to promote his venture. He believed that it was a good way for an unknown company to establish a solid reputation in the market. Initially the company worked with just one client. They had to, develop and install a software package for the client’s business in Paris.
The company stood by its commitment of delivering the best service and as of their competency and value system; it proved out to be their first successful hit. Since then the company took off, and the ride turned it into a multinational company revered by the country and the world today.
…the tirelessness of the man paid off.
Today, Infosys has grown from a venture of 7 workers to a global enterprise employing over 125,000 people, with the turnover of billions of dollars.
After serving the company for two decades (1981-2002) as the CEO, Mr.Murthy retired in 2011 to the post of Chairman Emeritus. He is a recipient of several prestigious awards like the ‘Legion of Honour’, ‘Padma Vibhushan’ ‘Padma Shri” and many more. He continues to serve as a board member of HSBC, the UN Foundation & Ford Foundation.
Mr. Murthy is not only an IT wizard, but has also led key corporate governance initiatives in India. His leadership teachings are most sought-after, by Indians as well as by the corporate managers of other countries.
The success story of this amazing man portrays that the pleasure of standing out of the crowd can only be enjoyed only by those who are successful in making a way through the hardships of the journey and those hardships not only keep a dedicated man going… but in the long run truly pays off…