Sardar Vallabhbhai Patel once famously said that faith is of no avail in absence of strength. Faith and strength, both are essential to accomplish any great work. He has made faith and strength his superpowers. His faith is firmly enshrined in his heritage and his strength comes from the values that have been instilled in him by his parents.
Houston-based Bhupesh has traversed three continents – but it wasn’t a sail rather a bumpy ride where he faced many challenges to become a successful entrepreneur and in doing so he has charted an inspirational roadmap for many to follow.
Passionately leading his brainchild, B N Patel and Associates, to success, he has 50 years of finance and management experience that includes successful stints at regional companies of multinational corporations, manufacturing pharmaceuticals and cosmetics. He has dabbled in everything from real estate, consumer electronics to auto-parts.
Today, equipped with a wealth of knowledge, Bhupesh successfully provides consulting, finance and mortgage services to many businesses with a nationwide network in the US. He has also been active with several organizations including the Association of Cost and Executive Accountants, the Kenya Institute of Management and Chartered Management Institute in the UK, the American Management Association in the US and also the World Affairs Council and Asia Society.
Dhow of Opportunities
Born in Nairobi, Kenya, on March 7, 1937, Bhupesh traces his roots back to Charotar, Gujarat, where his grandfather, Baberbhai Patel, was born. In search of better prospects, Baberbhai made the journey from Bombay (now Mumbai) to Kenya on a dhow. The boat ride was arduous as was life once Baberbhai started toiling to make a success of himself. He says, “My grandfather made the journey to East Africa even before my father was born. My father, Narottambhai, traveled to Kenya when he was just 15 years old. My grandfather and father were both very determined and nothing could faze them. They faced challenges head-on with the resolve to overcome them”. Narottambhai had inherited his father’s enterprising spirit after having trained under his expert tutelage. Bhupesh hadn’t ever seen his grandfather but had definitely felt his king-like presence in a hand-painted photograph that he still owns.
Bhupesh was still a toddler during WWII. Ever the astute farmer and businessman, his father seized the opportunity of the steady trade between Kenya and India and started dealing in groceries, agriculture and supplying to ships plying between Bombay and Mombasa.
“It was only because of his hard work that the business flourished. Initially, he took up a job that paid him 35 Kenyan shillings a month, which sustained not only his family but also his parents in Gujarat.”
As much as building a successful business was vital to Narottambhai, so was his Indian heritage and culture. He wanted his children to experience and learn about their heritage through education, and this prompted him to send all his kids to India for five years.
India had just gained independence and life was rudimentary. Bhupesh remembers his six-kilometer walk on rough-trodden paths from home to school. “Not only did I have some brilliant teachers in school but I also got to learn my native languages, Gujarati, Hindi and even basic Sanskrit.”
The uneven trails became markers for his future. The year 1947 was an epoch-making one, not just for the country but also for its people, who had found freedom. Leaders like Mahatma Gandhi and Sardar Vallabhbhai Patel are his ideals till date. He, however, returned to Kenya in 1952 to finish high school.
Life – The Biggest Educator
While Bhupesh was never able to pursue higher studies, he equipped himself with enough skills to become a flourishing entrepreneur. He opted for correspondence courses and completed his financial management and corporate secretarial studies.
His father was his guiding force and used to spend hours imparting lessons on the craft of business. “I think my father was trying to encourage me into running his business but I had a different vision. I wanted to be a self-made man. I studied finance management and started working in Kenya Overseas Company Ltd, Nairobi, as an Executive Officer.” It was a pharmaceutical manufacturing unit, which was eventually sold to a UK-based international conglomerate, The Boots Ltd, where his potential was recognized. He was asked to stay on and manage their operations in Kenya, Uganda and Tanzania.
Bhupesh worked with them for six years having been promoted to a board position before being ‘poached’ by none other than the Managing Director of Devani Group – a Kenyan group that had a pharmaceutical company, cosmetic manufacturing, neon signage, etc. He did not disappoint and worked his magic on restructuring and organizing the corporate structure.
He set up his own business, Rose Holdings Ltd, specializing in real estate, in 1973 – at age 36. He also ventured into consumer electronics, pharmaceutical distribution and auto-parts. At one point in time, he was successfully managing 12 companies.
American Soil Beckons
Bhupesh moved to the US in 1981 for the better of his family – his wife, Virbala, and two children, Jalpesh and Hiteshree. “I knew that the kind of education I wanted for my children would not be possible in Kenya. Hence, I decided to move to the US.”
The US would not only provide better higher education opportunities for his children but it would also open possible business expansion avenues for him, making him “an entrepreneur for life”.
He found himself searching for that perfect project. “From nearly 200 acquisition options, I shortlisted 50 and then 10, and finally settled on three optimal options.”
There is no doubt that Bhupesh has a genius financial management acumen. But even geniuses would think twice before taking on failing businesses. Not Bhupesh though. Not averse to taking risks, he acquired a failing cable company, Texas Electric Insulated Cable Corporation (TEICC), and turned it around into a money-making venture before selling it off in 1988. Next up was real-estate development with the setting up of Southpark Securities Inc, with an American partnership, which was also sold off in a lucrative deal.
A never-say-die attitude is what sets good businessmen apart from great ones. He goes beyond the realms of impossible to achieve feats that no one would dare. It is almost as if Bhupesh has the Midas touch to selectively turn everything into gold. Like any great visionary, he does his due diligence and research like he did before venturing into the petrochemical sector. He, along with his son, Jalpesh, founded Amyl Inc. The son took charge of acquisition, sales and marketing while Bhupesh managed finance and administration.
At 65 he decided to venture into a commercial mortgage consulting business – B N Patel & Associates – knitting another success story. “Nothing comes easy but my passion for financial management and my dedication and commitment to provide the best service possible served as my inspiration to start the consultancy.”
Family – The Ultimate Inspiration
Virbala and Bhupesh got married in 1960. He says, “It was a marriage arranged by our elders. Virbala’s family was a wealthy business family in Nairobi and we were not. I think it was the values that our families had ingrained in us that were the deciding factor in our marriage.”
She has been his pillar of support. “We rarely have any disagreements and even if we do, we always talk about it and sort it out.”
Jalpesh and Hiteshree are their biggest assets. Jalpesh has a degree in accounting and is looking after the petrochemical business. His wife, Rita, is an accountant by profession and they have two sons, Anish and Anuj. Hiteshree holds a double major in Bachelor of Business Administration from the University of Houston. A Supply Chain Management Specialist, she has been President of APICS, Houston. She is married to Cliff, who also excels in supply chain management. They are successfully managing their thriving business Octagon Supply Chain, Inc.
“My two grandsons have become great citizens. It makes it all worthwhile.” Anish is an Electrical Engineer at Lockheed Martin – a defense corporation. Anuj holds degrees in Finance and MBA, and is at a senior position at Sysco.
Community’s Champion
Bhupesh has not just structured companies and realized his entrepreneurship goals, he has also found ways to pay the success forward through spiritual and charitable activities.
Influenced by the philosophy of Bhagwan Swaminarayan, he is an ardent devotee of HDH Pramukh Swami Maharaj and HDH Mahant Swami Maharaj and volunteers with BAPS Swaminarayan Sanstha. He served as head of BAPS Care International, a charitable organization, now known as BAPS Charities in Houston.
From raising millions of dollars in funds for the 2001 Gujarat earthquake victims, providing business consultancy at times on an honorary basis, to guiding students in their college careers, he continues to give back to society in every way.
Following Mahatma Gandhi’s words, “Be the change you wish to see in the world”, B N Patel remains iron-willed, steadfast and committed to spreading goodwill and effecting positive change in society.