Texperts: Building business on values
‘Professionalism’ is a word often used to describe the working style of a successful company. Yet, how many companies, particularly in the textile sector, can claim to even understand the real meaning of this word, let alone practice the business philosophy in its true context!
rofessionalism’ is a word often used to describe the working style of a successful company. Yet, how many companies, particularly in the textile sector, can claim to even understand the real meaning of this word, let alone practice the business philosophy in its true context! Many times, we hear that a family business or home-grown company has appointed a CEO and is claiming that they have turned professional… But is that really the yardstick of measuring professionalism? Recently, Apparel Online had the pleasure of meeting the amazing team of Mumbaibased Texperts – Yatish Pandey, Sharad Sanghai, Asit Parikh and Deipak Hamirwasia – who shared the management structure of the company and what ‘professionalism’ means to them…, a truly enriching experience!
An organisation that is laid on the basic principles of the traditional ‘Hindu Undivided Family’ system where collective gains are bigger than personal gains, Texperts is an association of like-minded professionals who align to the same visions and goals. In this journey to nurture entrepreneurs, not professional employees, the company has seen some failures too…, but the success of the business model greatly outnumbers the failures.
“The core of the company is that it’s a platform not an individual-driven company with a solid management structure. We all come from a professional background and do our work in a structured way with passion. We still have a culture to take major decisions with the entire team, we started it long back and we always take our people into account. So there are no ego issues, that’s why we don’t have designations on our cards, but internally we have complete clarity as to whose role is what. This structure was at our core when we started, and we are still doing the same, as we know we grew because of the collaborations,” says Yatish, one of the founder directors of this ‘unique’ organisation.
Trading in the textile value chain from yarn to finished product, both within and on a global platform is just a part of the business of Texperts. “What we are trying to do is to look at every aspect of the customer’s business and facilitate it. We try to figure out what actions we can take so that he can have a more sustainable business. How we can contribute to his work is our main job,” avers Yatish. In pursuit of this goal, the company not only provides what the customer wants, but also suggests ways to have a better business. “We have an in-house design team that can offer him what he wants and also tell him other similar alternatives which will add value to their product. That’s where our creative and proactive measures come in,” adds Sharad.
Every action of the company and its directors stems from the 5 sanskars (values) that form the foundation of Texperts. Each of these values are a commitment by every member of the Texperts’ team to the organisation and its customers. The values are set out on priority basis. “We never compromise, but if two set of values clash because of certain circumstances, then the priority of the value is honoured,” shares Deipak. Also, it is these core values that set this company apart from other organisations in the trading business. “When anyone talks about business, they talk about profits and money. We four never talk about money matters; we talk about business profits (never individual profits). You may hear it as a philosophy but it’s true, the core of the business is our 5 sanskars; anyone who cannot abide by it can’t be here. When people join in after a time they become those core values to an extent that even if they leave, many come back because they find it difficult to work anywhere else, and those who don’t come back were never meant to be here,” reasons Yatish.
All four admitted that training people to match the values is not easy, and Yatish spends a lot of his time in organisational development. “When we started, it was really difficult; today it’s not because there is an environment wherein the people who don’t match will get filtered. In the beginning, we invested a lot of our time to focus just on people. We have a systematic induction plan, an event management team that celebrates all events creatively. We just play and live like a family,
“The core of the company is that it’s a platform not an individual-driven company with a solid management structure. We all come from a professional background and do our work in a structured way with passion.”
– Yatish Pandey
“It’s like we gradually choose our customers and suppliers, and we take a lot of time choosing the right ones because it’s very difficult to find such people and they are not wrong but just different from us.”
– Asit Parikh
we have created a level of oneness in the company. It’s a way of our life and doing business,” shares Yatish. Strategically, the policy is straightforward, but executing the same is a continuous work in progress. “We still have not got everyone acting so intensively. In the case of people who are adding value to the organisation we inspire them, and show them how it’s done,” adds Asit.
The 5 values and their implication… in the words of the team
These values are our core…! Anyone who is going to be a part of the core team has to live and breathe this philosophy.
Playing for win-win – When we say ‘win-win’, the focus is that you (customer) should win and then our win is a by-product. Our win is not a win if we are not focusing on customer; this is very easy as a philosophy but hard to practice, we’re just lucky to have such people in our team who understand the importance and nuances of the concept.
We say what we do and we do what we say – We do fail; we’ve failed many times but the moment it happens we take the responsibility and ownership. We put our heart and soul to achieve our commitments, if we don’t achieve it, we try again. We encourage initiatives and abilities – That means, we believe we can only grow when we have people around us who take ownership. Everyone has their problems, but we all are in it together and we encourage people to make the mistakes but continue to take initiatives. This way one feels like the owner… As we say: ‘Texperts is a platform for anyone to come and be an entrepreneur’. We don’t call people ‘employees’, we call them virtual owners.
Passion for accomplishment
– We are passionate about our accomplishments and that is again not our profits, if you ask details of our balance sheet, none of us would be able to give you exact figure of any year. It may not be great, from a strategic point of view but we know where we are and we celebrate our accomplishments. This is what really keeps us going.
Adding value through knowledge and innovation – We are completely into adding knowledge and innovation to the work, the process and the way we do things. And that’s the difference we have achieved from being a service provider to our existing model. What we have done in the past two-three years is going to pay us in future, it has already earned us respect in the industry and our bottom lines have improved. When the company shifted its core from service company to product company, adding value through knowledge and innovation became the top priority. These values are also guiding principles when choosing customers and partners. “Initially, we look at what is the strength of the person and then we start observing the person, to see if their core values match to that of ours. If not, the relation is just for the assignment or the time-period but we are clear that it’s not for a long-term. There is a dating period before the collaboration… It’s like we gradually choose our customers and suppliers, and we take a lot of time choosing the right ones because it’s very difficult to find such people and they are not wrong but just different from us,” reasons Asit. Though the team is proud of its values, they feel that their efforts are still very nascent compared to many global companies that have set benchmarks in ‘valuebased business’ very high. “Many companies are far ahead of us in their value system. When we read about them or know them better, we realise that they are far more evolved than us. So, there is a benchmark that we are following as we are standing with companies that have their own value system which might be different but as strong. And when we work with such companies, we are assured that they will respect our values,” signs off Yatish.
“We have an in-house design team that can offer customers what they want and also tell them other similar alternatives which will add value to their product. That’s where our creative and proactive measures come in.”
– Sharad Sanghai
“We never compromise, but if two set of values clash because of certain circumstances, than the priority of the value is honoured.”
– Deipak Hamirwasia
Team Texperts – The Directors rub shoulders with their entrepreneurs