Some crucial lessons every entrepreneur can learn from the Marwari business community.
August 11, 2017
In India, the term Marwaris simply describes Business as almost every Marwari family has a successful business running over the years. Since they know exactly what it takes to run your business successfully in every aspects, We need to learn some of the business growing tips and hacks from them.
Here are some tips every entrepreneur must learn from Marwaris for their business :
1) Parsimony and moderation
The Marwari community understands the value of money involved in their business and hence these 2 traits i.e Parsimony and moderation must be adopted by the young entrepreneurs. This means not to spend upon unnecessary things and concentrate mainly on the necessities.
2) Brilliant control over finances
One of the biggest and main reason why Marwaris are so much successful in their business is their exceptional financial control. They know the value of their money and they scan their money so well that in the end they are aware of every single buck that’s being spent, this is a must trait to follow for aspiring entrepreneurs.
3) Strong business values
Many younger generation following the business built by their forefathers believes it as an rigid and absurd choice. But, Marwaris proudly aligns their business responsibilities to their younger generation and uphold the honor. This simply shows their dedication for their business and it makes the work smoother and simpler.
4) Spotting opportunities and adjustability
When India was under British rule, Marwaris were the first choice for business for the East India Company, which is why lot of them had to shift to Kolkata for work. The community showed the point of adaptability as business is their first priority. Their extreme dedication to their work makes them very easy to change lifestyle choices and places if the new opportunities knocks.
Some Marwaris ruling the business scene in India include Bhavish Aggarwal, Ram Prasad Goenka, Sunil Mittal, Savitri Jindal, Chanda Kochhar, Kishore Biyani, Lakshmi Mittal.
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