Man­age­ment Mantra

India Business Journal - - CONTENTS -

"Know Your Mar­ket & Your Au­di­ence": Jayesh B De­sai, Founder & Chair­man, Share­con­omy, & Group Chair­man, Ra­jhans Group

With a rest­less mind and an am­bi­tious heart, he started his ca­reer with a job that paid him a pal­try salary of Rs 300. He had a hum­ble up­bring­ing in a vil­lage called Par­avadi in Gu­jarat. He started his en­tre­pre­neur­ial jour­ney with his first oil shop, and after achiev­ing suc­cess in it, he ven­tured into tex­tile in­dus­try. This is the story of Jayesh De­sai, the chair­man of Su­rat, Gu­jarat-based Ra­jhans (De­sai-Jain) Group.

With timely suc­cess fol­lowed by dis­tinc­tive mile­stones, Mr De­sai soon en­tered the thriv­ing busi­ness of real es­tate. Hav­ing achieved tremen­dous suc­cess in realty, he fur­ther en­vi­sioned enor­mous scope in the hos­pi­tal­ity In­dus­try. With suc­cess in his stride, he was fas­ci­nated by the choco­late in­dus­try that led him to ex­plore the con­fec­tionery seg­ment, set up an in­ter­na­tion­al­stan­dard choco­late fac­tory and roll out brand Sch­mit­ten.

A first-gen­er­a­tion en­tre­pre­neur, ex­em­plary leader and driv­ing force be­hind the suc­cess of his busi­ness con­glom­er­ate, Mr De­sai re­cently ven­tured into the B2B e-com­merce seg­ment with Share­con­omy. With this new plat­form, the Ra­jhans chief wants to change the way peo­ple do busi­ness.

Mr De­sai's win­ning strate­gies have turned the Ra­jhans (De­sai-Jain) Group into a whop­ping Rs 4,500-crore busi­ness con­glom­er­ate with more than 7,000 em­ploy­ees work­ing di­rectly and in­di­rectly across var­i­ous ver­ti­cals. Sharmila Chand meets Mr De­sai to un­der­stand his man­age­ment prin­ci­ples and prac­tices that have made Ra­jhans a vi­brant busi­ness con­glom­er­ate.

Your five man­age­ment mantras

Eye for de­tail: As a busi­ness­man, you must have an eye for de­tail­ing. Suc­cess comes with de­tailed in­sights and thor­ough un­der­stand­ing of your mar­ket.

Fu­ture far­sight­ed­ness: To run a suc­cess­ful busi­ness, one must have fu­ture far­sight­ed­ness and a longterm goal.

Strat­egy: You need to make strate­gic de­ci­sions to keep fo­cus on the im­por­tant as­pects of your busi­ness.

Lead­er­ship: Lead­er­ship is not just lead­ing from the front, you should keep your team close to you and in­volve them in de­ci­sion-mak­ing.

Han­dling fail­ure: Busi­ness in­volves both profit and loss, and one

should al­ways learn from fail­ures and not get de­mo­ti­vated by them.

Any game that helps your ca­reer

Well, I usu­ally play golf to re­lieve my­self from the rou­tine. I think play­ing this gen­tle­man's game is the best out­door treat that keeps my brain fit and en­hances my vi­sion, which, in turn, adds val­ues to my work.

Turn­ing point in your ca­reer life

Su­rat, the land of op­por­tu­ni­ties, is the turn­ing point for my suc­cess. Ever since the day I landed in this aus­pi­cious land, I've been be­stowed upon with good luck. Tech­ni­cally, the turn­ing point is my first quest in the field of ed­i­ble oil busi­ness which had given

me un­prece­dented re­turns, lead­ing me to­wards more op­por­tu­ni­ties as well as chal­lenges. I there­fore give full credit to my ed­i­ble oil ad­ven­ture which en­cour­aged me to turn my as­pi­ra­tions to a good ac­count.

Se­cret of your suc­cess

There is no short-cut to suc­cess, and hard work is the only se­cret. Hard work with hon­esty and a vi­sion make you suc­cess­ful. If you have a strong de­ter­mi­na­tion and abil­ity to work hard, I think that noth­ing can stop you from be­ing a suc­cess­ful en­tre­pre­neur.

Your phi­los­o­phy of work

My phi­los­o­phy of work is to pro­vide the best ser­vices and prod­ucts which will keep my cus­tomers happy. Stay op­ti­mistic and true to your work, and move ahead with en­thu­si­asm to drive ev­ery new op­por­tu­nity in your way.

A per­son you ad­mire

Well, it's the one and only Dhirub­hai Am­bani. His im­mense strug­gle and in­cred­i­ble ide­olo­gies have al­ways in­spired me. His early days be­fore be­com­ing a suc­cess­ful busi­ness­man surely re­mind of mine. In fact, I see my­self in him, and this is the rea­son I al­ways ad­mire him.

Your favourite books

Ev­ery book on my role model Dhirub­hai Am­bani is my favourite. I re­ally love to read about how he trans­formed him­self into a busi­ness ty­coon de­spite be­ing a teacher's son. I am al­ways en­cour­aged by his firm de­ter­mi­na­tion and con­fi­dence which can be seen in all the books writ­ten on him. His each strug­gle men­tioned in words en­cour­ages me to learn more about him. I there­fore ex­press my grat­i­tude to those who have writ­ten about him so that I can con­nect more with him. To some ex­tent, his books truly are my own rep­re­sen­ta­tion that gives me more and more im­pe­tus to adopt his bril­liant ide­olo­gies.

Your fit­ness regime

I work out for five days in a week, and I also like to con­duct small meet­ings while walk­ing. Talk­ing while walk­ing is an amaz­ing way to stay healthy. Ev­ery day morn­ing, I make it a point to med­i­tate for at least 15 to 20 min­utes. Meditation helps me con­cen­trate while work­ing and tak­ing ma­jor de­ci­sions.

Your five busi­ness mantras

Hard work with smart work: To run a suc­cess­ful busi­ness, you need to do smart work as well as hard work. A per­fect bal­ance of the two helps you to be at the top of your game. Smart work re­duces time con­sump­tion, and there is no al­ter­na­tive to hard work.

Hire the best peo­ple: Em­ploy­ing mo­ti­vated and ded­i­cated staff is the pre­req­ui­site for your suc­cess. It is be­cause of their im­mense sup­port that ac­cel­er­ates your busi­ness ob­jec­tives. Re­mem­ber, you can't sin­gle hand­edly lead the whole em­pire as you need their driv­ing force be­hind you. Since em­ploy­ees are the back­bone, their prob­lems should be yours. There should be a trans­par­ent and pro­fes­sional yet friendly work en­vi­ron­ment so that em­ploy­ees can make the most of their du­ties. Be­sides, they should be treated no less than a fam­ily.

Know your mar­ket and your au­di­ence: You can­not run a busi­ness with­out know­ing who your tar­get au­di­ence is and what your mar­ket is. Cus­tomer sat­is­fac­tion is the most im­por­tant as­pect if you want to have a sta­ble and suc­cess­ful busi­ness of your own.

Pas­sion: That zeal to achieve your tar­get should al­ways be inside you, and love and pas­sion for your work are what that take it for­ward. Many hur­dles come in your way, but one should be strong enough to cross them and move ahead.

Zero-com­pro­mise on qual­ity: Pro­vide qual­ity with­out com­pro­mis­ing. Be the one syn­ony­mous with qual­ity prod­ucts and ser­vices. Let the cus­tomers have faith in you, and never ever hurt their ex­pec­ta­tions. Be hon­est to ev­ery­one when it comes to your busi­ness ethics.

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