30.09.2024 15:10
After many years, striking confessions have come from Rahmi Koç, the Honorary Chairman of Koç Holding. He stated that they invested in five different businesses 20 years ago, but only one of them was successful. Koç said, "The only profitable investment we had was in the air crane business. Its profits covered the losses of the others and we made a certain amount of profit as well." Rahmi Koç also listed the unsuccessful projects one by one and explained the processes.
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Koç Holding is a giant operating in many sectors, from automotive to white goods, from iron and steel to tourism, successfully representing Turkey on the global stage. However, the statements of Honorary Chairman Rahmi M. Koç reveal that this giant group has also faced unsuccessful investments. Koç, who has previously expressed regret for not entering the GSM sector, emphasized the risks in entrepreneurship.
"IF YOU MANAGE WELL, YOU CAN ACHIEVE GREAT SUCCESS"
Rahmi M. Koç, in an interview with Fast Company magazine, evaluated the trends in the world of entrepreneurship, stating, "Throughout my business life, there have been many trendy investment areas. At one point, everyone was entering the textile and yarn business, then tomato paste and export were in vogue. Nowadays, startups are being talked about a lot. If you manage well and set your goals correctly, you can achieve great success starting from scratch," he said.
"WE INVESTED IN ELECTRIC MOTORCYCLES, BUT IT WAS NOT SUCCESSFUL"
Rahmi M. Koç also explained why some of their investments failed with the following examples: "We invested in electric motorcycles; it was wonderful, but it was not successful. People want to hear that 'vroom' sound when riding a motorcycle; the idea of silent operation did not catch on. We invested in another entrepreneur's idea of giving loans to those who are not bank customers, and that also failed. Additionally, we had invested in a system that measures your dimensions and suggests suitable clothes for you. Although it seemed like a brilliant idea, it was not successful. The only profitable investment was in the aerial crane business that installs ski lift poles with helicopters."
"YOU SHOULD NOT BE AFRAID OF MAKING MISTAKES"
Koç pointed out that competition in the world of entrepreneurship is very fierce and advised young people to "conduct extraordinarily detailed and in-depth studies." Emphasizing the need to thoroughly analyze the competition before entering a business, Koç said, "You should not be afraid of making mistakes. You cannot progress without learning from your mistakes. You should not underestimate your competitors; they can be as smart as you. Most importantly, you need to make an effort to learn from the mistakes of others and avoid making similar ones."
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