The Gujarati Way of Doing Business, It’s a Big Deal – A Gujarati Speaks

http://www.techthebest.com/2012/02/15/the-gujarati-way-of-doing-business/

BY JAY THADESHWAR 

Yesterday was full of some amazing experiences. I was out with my mom for the entire day. She took me to a temple where we give some Groceries every-month. We purchase these groceries from a shop near by the temple so that we don’t have to carry it and travel. That shop is run by an old Gujarati man, we call him Dada. Dada is in his 80′s and he is rich enough to get retired and have fun with the remaining life. His both sons are Chartered Accountants and they are earning very well. I asked that old man, “Why do you still want to work?” He answered me in his weak voice, “I can’t sit at home, and business has been my habit for 60 years, as you can’t live without food for a day, I can’t live without visiting my shop for a day which I started 40 years back.”

This answer was thought provoking and really describing the fundamental decoration of Gujarati belief about business. On the way back to home I kept thinking about that old man and many other entrepreneurs who have made it big and are Gujaratis. I was able to find some common characteristics in all of them. Let me describe all the characteristics one by one.

1. Start Early

Since my childhood, I am surrounded by many entrepreneurs, all of them have their own enterprises started in their teenage. That’s really awesome ! Normally people start learning Commerce in their later teenage, where Gujaratis establish their own businesses at the same age. My father had started his Jewellery Shop when he was 15, my Grand Father was a Jewellery Dealer at the age of 14, one of my relatives, a very successful entrepreneur had started his multiple businesses at the age of 19 and last but not the least, I had started my first website at the age of 19 and second one at the age of 20.

All of the above entrepreneurs have one thing in common and that is “Burning Desire.” Burning desire to do something different and make something which you can call your own. They are not forced to start businesses in their teenage but they are unbelievably motivated to do so.

Advantages of Starting Business as early as possible

1. You are self dependent

2. You get to learn things in early age which you can leverage upon for the lifetime

3. Self Satisfaction of starting something and being your own boss

2. For a Gujarati, No work is inferior

One belief which we all share is that, “No work is inferior.” Just ask any Gujarati to do some work which can fetch him some money, he will be up for doing that (Provided work doesn’t clash with his ethics and self respect). When we start a business, we don’t have million to spend and hire people for each and everything. At the initial stage of business you have to be at the core of all the functions.

One thing that I’ve learnt from the entrepreneurs around me is, “When you start a business, you are the Owner, You are the clerk, You are the Peon and You are the Cleaner”

We don’t mind doing work of a cleaner, peon or clerk in our own business. The sole reason behind doing all these tasks is abundant enthusiasm which we all share. I still do cleaning of my dad’s office with pride and enthusiasm.

3. Don’t rely on One, Keep multiple options

Suppose your only supplier goes broke or dies or whatever happens that can cause a stoppage to your business, what will you do?

Answering this question – What will you do? is much more difficult that creating a backup and say, I already have 5 more suppliers. This in not the case of only suppliers, Gujaratis keep backup in everything. We have backups in Suppliers, Dealers, Customers, Workers, Capital, Energy and Miscellaneous support.

I remember a situation of a theft that happened in our shop, we just created a Golden Necklace for a customer who was having his daughter’s marriage next day and he wanted to gift that Necklace to his daughter. That necklace was stolen from our shop one day before the delivery, I thought we are gone. But somehow my uncle managed to create the same necklace in one day. I don’t know how did he do that but it was an awesome thing he did. He has backup for Gold, Artisans, Casting needed for the necklace and of course faith in his adventure.

That was an awesome learning which I had received when I was in 8th grade.

4. Holding Cost

This is very interesting, recently I purchased some goodies worth Rs. 5000 for some college festival  I was about to sponsor with my website. Things didn’t workout well and I have those goodies with me kept in store room. I have to hear from my mom everyday for the same. She first yelled at me for spending in things which I didn’t use. She also explained me that I could have purchased less for a prototype test and keep backup at suppliers for the same as my surrounding entrepreneurs do.

I still have those goodies and everyday I look at them, I realize the cost of holding. I really realize it because it was my own money I earned from my startup. Though the amount is not a big one, but any loss is a loss as long as it’s a loss.

5. You don’t need to spend on everything, there are options

People call us cheap or ‘kanjus’ for thinking twice before spending on anything. I’ll give a wonderful example,

I wanted a PC when I was in 10th grade, my parents asked me to wait till my SSC exams get over. I waited and as the result of which, I got a PC as a prize from my coaching classes for securing a rank at state level. The story doesn’t end here,

When I started my websites, I needed a fast PC. I again asked my parents for a fast PC or an upgradation for my current PC. They directly told me to earn it myself. I managed with a slow PC for 4-5 months and then after I purchased a FAST PC out of my own money which I earned from my websites. And I am proud of that.

This teaches that, you don’t need to upgrade untill your current instruments can work well. So think twice before demanding a Laptop or a Smartphone from your parents

6. Business = Money and Money = Business

We Gujaratis do business to print money, that’s  it. Everything that can earn us some profit, we take it as a business and hit it. One of my relative, more than 80 still tries to earn money from some small miscellaneous  deals. It’s not his business though, he does it because it gives him some money.

We always seek for money and business. So we make it a business when we get money and we make money when we make it a business.

7. All men are created equal

We give  a lot of importance to our people. Every worker in our organization enjoys the same dignity as the owner. In our family, dignity is calculated by work and not by worth. I remember a worker in our factory who was one of the best friends of my Dad. He used to have lunch with us and he had all the authorities to scold us if we make some mistakes, though he was a worker and we were the children of  the owner.

Respect your men, they’ll make you respectable for the world. 

8. You don’t need to retire ever

As far as I think and I’ve seen many examples, you should never retire untill you are totally disable to work. As I’ve given some examples above, Gujaratis work till end. They take business as a habit. You don’t feel good without brushing your teeth everyday, the same way Gujaratis don’t feel good without visiting their shops/factories/offices everyday.

So these were some wonderful lessons which I’ve learnt from my family and observation. Share your thoughts. We always welcome your comments.