Amit Agarwal (NoBroker) - the small town boy who minted a unicorn
Amit Agarwal's journey from a small-town boy to the founder of NoBroker is a compelling narrative of resilience, learning, and self-discovery.
I had the honour of interviewing him on the Inner Journeys podcast, and we explored the pivotal moments that shaped his entrepreneurial spirit, highlighting the lessons of personal growth and overcoming adversity.
Check out the video of the conversation here or read on for insights.
Introduction to Amit's Philosophy
Amit Agarwal's life philosophy is deeply rooted in resilience and the relentless pursuit of self-improvement. He believes that life's challenges are not just obstacles but opportunities for growth. This perspective shapes his approach to both personal and professional endeavors.
"You can only try your best. If the result is not coming, then perhaps you try a little more, try differently, but never give up."
This mindset is a testament to his belief that persistence is key. The journey is as important as the destination, and every setback can be a stepping stone to greater success.
Childhood Influences: Early Lessons in Resilience
Growing up, he faced various challenges that later shaped his character and entrepreneurial spirit. From a young age, he was encouraged to strive for excellence, often competing with equally ambitious peers.
"The subconscious message was that there's no point in giving up. If you try, something works out."
This belief was instilled in him by his family and reinforced through his experiences in school. Failure was not seen as an end but a necessary part of the learning process.
The IIT Experience: A Journey of Self-Discovery
Entering IIT Kanpur was a transformative experience for Amit. Coming from a background where he had always excelled, he suddenly found himself surrounded by brilliant minds. The initial shock was overwhelming, leading to a steep learning curve.
"Being a topper in my district meant nothing. Here, everyone was smart. I felt ordinary in an ocean of excellence."
This realization was humbling. The pressure to perform was immense, and Amit struggled to adapt to the rigorous academic environment.
However, this period of struggle prompted a critical shift in Amit's perspective. He learned to embrace collaboration over competition, a lesson that would serve him well throughout his career.
"Instead of fighting the system, I learned to understand it."
Adapting to Change: From Competition to Collaboration
Amit's journey through IIT taught him the value of collaboration. Initially, he viewed his classmates as competitors, which hindered his ability to seek assistance. However, as he began to accept his situation, he realized that working together could lead to greater success.
"I had to figure out how the system works, mingle with others, and ask for help. It was a humbling experience."
This shift in mindset not only improved his grades but also enriched his social interactions, allowing him to build lasting friendships with some of the brightest individuals he had ever met.
Through this experience, Amit learned that true strength lies in the ability to adapt and collaborate. This lesson became a cornerstone of his entrepreneurial journey, where teamwork is often the key to overcoming challenges.
Overcoming Personal Challenges: Love and Education
As Amit transitioned from IIT to IIM Ahmedabad, he encountered personal challenges that tested his resilience. During this time, he developed a close relationship which became a source of both joy and stress. Their relationship faced external pressures from their families, who opposed their union due to caste differences.
"My objective was to convince her family, but each phone call became a distraction from my studies."
Balancing romance and education proved difficult, leading to a decline in his academic performance. The emotional turmoil was palpable, but Amit navigated this challenging period with determination.
Ultimately, the love story culminated in marriage, which Amit regards as one of the best decisions of his life.
"Out of all the things that have happened in my life, marrying her was the best thing."
This experience taught him that personal happiness and professional aspirations can coexist, even amidst adversity.
Career Path: From Cognizant to IIM Ahmedabad
After completing his education at IIT, Amit joined Cognizant, where he honed his skills in the IT sector. However, he quickly realized that while he was good at coding, it did not ignite his passion. This led him to consider pursuing an MBA, a decision that would set the stage for his future endeavors.
He recalls the pivotal moment when he stood in line for a US visa.
"I realized I didn’t want to pursue research. I wanted to solve problems, not dwell on one for years."
This epiphany prompted him to withdraw from the visa process and focus on his job at Cognizant instead.
As he prepared for the CAT exam, Amit faced fierce competition but emerged victorious, securing a spot at IIM Ahmedabad.
"It was a challenging environment, but I was ready to tackle it."
The Shift to Consulting: Finding Excitement in Challenges
Amit's transition to consulting was not born from a passion for the field, but rather from the allure of the profession during his time at PwC.
"I got into PwC management consulting... not because I wanted it or I had any love for it, but because everybody wanted it."
This decision was driven by the prevailing trends and the excitement that consulting promised.
His tenure at PwC spanned nearly a decade, characterized by a demanding schedule that many would find overwhelming.
"You start Monday morning, wake up at three thirty... and when you are coming back on Friday evening, the last flights are always delayed."
Yet, amidst the chaos, Amit discovered a profound love for consulting. He thrived on its challenges, relishing the satisfaction of solving complex problems in various industries.
What fascinated him the most was the transformation from initial hostility to collaboration.
"The moment I reach the client's place, everybody's hostile... and then you realize that they are hostile towards you as a concept."
His ability to navigate these hostile waters and turn adversaries into allies became a hallmark of his consulting career, showcasing the importance of resilience and strategic communication.
The Decision to Leave: Midlife Crisis and New Beginnings
After years in consulting, Amit faced a pivotal moment that many encountered in their careers: a midlife crisis. At thirty-five, he questioned his path, particularly after losing a mentor.
"I realized that being a partner requires a lot of political skills... and that is not something which I'm not good at."
This realization prompted him to reassess his career trajectory.
"No one has ever become wealthy by doing a job."
He felt the need to break free from the confines of a stable job and explore the unknown. This phase of uncertainty was daunting, yet it sparked a newfound openness to possibilities.
"For the first time, I realized that I don't know what the next step is."
This openness soon set the stage for a transformative leap into entrepreneurship.
The Birth of NoBroker: A Leap of Faith
The idea of NoBroker emerged during this period of exploration and uncertainty. Amit was allowed to join friends who were developing this innovative concept.
"I decided that it is better to join them, be a part of NoBroker rather than basically taking the job."
Amit's leap into entrepreneurship was not without its challenges. The initial days were uncertain, as they navigated the complexities of launching a business in a space dominated by traditional brokers. He recalls the skepticism they faced from investors, who questioned why a similar model had not been successful elsewhere.
"Investors kept telling us if it's such a good idea, why hasn't somebody done it?"
Facing Adversity: The Early Days of NoBroker
The early days of NoBroker were marked by significant hurdles. Amit faced fierce resistance from established players in the market. He recounts a harrowing experience when brokers attacked their office.
"We were completely ill-equipped to handle a situation... we just called police from the normal phone number."
Despite these challenges, Amit remained resolute. He learned the importance of persistence and adaptability in the face of adversity.
"The only thing which investor is perhaps looking for is whether you are sure about it, whether you are going to chase it like crazy,"
Through sheer determination, Amit and his team persevered. They bootstrapped for a year, grappling with funding challenges and market skepticism. Yet, they remained frugal, focusing on product-market fit amidst the chaos. The experience taught Amit invaluable lessons about resilience and the power of belief in one's vision.
Reflections on Success: Growth and Future Aspirations
Today, NoBroker stands as a testament to Amit's journey of resilience and growth. With a workforce of six thousand and millions of customers, the company has transformed the real estate landscape in India.
"We are now number one in real estate in India... we add, sixty lakhs, six million new customers every year."
Amit's journey has taught him that success is not merely about reaching a destination but about the continuous pursuit of growth and improvement. He emphasizes the importance of staying connected to one's roots and maintaining a sense of humility.
"People who are really your friends, they don't change a bit towards you,"
As he looks to the future, Amit's aspirations remain ambitious. He envisions expanding NoBroker's offerings and further disrupting traditional models in various sectors. His journey is a powerful reminder of the importance of resilience, adaptability, and the relentless pursuit of one's dreams.
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Divakar Vijayasarathy