5-point someone

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

:

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.