Sanjeev Chitre – You Need to Pivot Your Business, Not Change the Direction

<p><a href="https://www.linkedin.com/in/sanjeev-chitre-a867b74/" rel="noopener noreferrer" target="_blank"><strong>Sanjeev Chitre</strong></a> is the Managing Partner at<a href="http://www.theugrp.com/team.html" rel="noopener noreferrer" target="_blank"> U-Group</a> and a four-time successful entrepreneur. Sanjeev has 30+ years of starting, growing, and executing the liquidity of several major small and medium-sized companies.</p><p>He brings together an integrated team of industry and growth partners to creatively build value for The U-Group clients. Sanjeev earned his MS in Electrical Engineering from the University of Wisconsin-Madison, US, and a BS in Electronics &amp; Telecommunications from the University of Pune, India.</p><p>&nbsp;</p><p class="ql-align-center"><strong>“When you make a mistake, accept that it was not the right thing to do and make an effort never to do it again. That allows the world around you to change.”</strong></p><p class="ql-align-center">Sanjeev Chitre</p><p>&nbsp;</p><h2><strong>Worst investment ever</strong></h2><p>Sanjeev’s worst investment ever happened when he was building his first public company. The company had five people only and had less than a million dollars in revenues. The company was in one of the not so desired spaces of the venture capital space, semiconductor and semiconductor chip-making equipment. At the time, the company was worth $25 million.</p><h3><strong>Growing his portfolio of companies</strong></h3><p>After taking his first company public, he bought another company that was 30 times bigger than the first one but was illiquid. However, this acquisition made Sanjeev very confident, and he went on to acquire more companies, and now he had five companies in total. Two were performing well, two were average, and one was simply horrible.</p><h3><strong>Letting his ego beat his business acumen</strong></h3><p>Even though that one company was a poor performer, Sanjeev went ahead and outbid another buyer for it. He could have paid $12 million, but he paid $30 mi