S03E03 Bootstrapping his business to £50m annual revenue - Gurinder Dhillon of Otto Car

Send us a textGurinder is the founder and CEO of Otto Car, the company that provides cars and finance to most Uber drivers in London.Currently, over 5,000 vehicles on the road are provided through the services of Otto.In the few years since the business was founded and they were operating out of offices in shipping containers in a West London car park, they’ve hit £50 million in annual revenue and are growing faster than ever - and they've done it all without having to give up any equity or selling to VCs or PE.Coming from an immigrant family background, Gurinder was quick to identify cultural shifts impacting his dad's business, and he used the same strategy to get on board with new and emerging trends in his own business. He realised the importance of hitching your wagon to a company or sector that was growing fast - a bit like a support frigate for a huge aircraft carrier - in his case the aircraft carrier was Uber.According to Gurinder, the foundations of Otto’s success are their core values and being mission driven. He explained that when it comes to values, ‘you can't do mission without marching’ - in other words, you need to walk the talk and demonstrate it through your daily actionsHe describes the period during COVID when his company was losing £6,000 every hour and he really found out who his allies were - and crucially, who they weren't. - he uses strong language, but it only goes to highlight exactly how important this is to him - and if you’re an entrepreneur, I think you will understandTowards the end of our conversation, he shares an anecdote that involves expensive wine and a life lesson, and it’s worth listening just to hear that!I learned a lot and was greatly inspired and entertained - and so will you be.Ladies and gentlemen, I give you Gurinder Dhillon.ResourcesOtto Carhttps://www.linkedin.com/in/gurinder-dhillon/?originalSubdomain=ukZero to One: Notes on Startups, or How to Build the Future: Amazon.co.ukBlue Ocean Strategy, Expanded Edition: How to Create Uncontested Market Space and Make the Competition IrrelevantThe Score Takes Care of Itself: My Philosophy of Leadership: Amazon.co.ukThis podcast is produced by GR Media Sponsored by Capital Asset Management

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