In 2020 when the world was facing Covid Lockdown, my father started a new manufacturing company of 3-wheeler electric vehicles. I got holiday from my school and as leisure, I started helping my father in his business. These two years have enriched me with practical approach that we cannot realize in routine. In the practical world for example – Behaviour of labours, managing funds, hiring people, accounting challenges of manufacturing unit, maintaining standards of manufacturing, maintaining KRAs & KPIs, motivating employees, retaining of employees and much more constitutes running a business.
The practical knowledge gains significance after the theoretical understanding that we gain to establish frameworks and ideas. As per my perception, I practical experience will enhances practical knowledge of how to manage things in difficult situations of business.
I faced challenges with my father like – facing the red tapism and bureaucratic laziness, finding low cost and high-quality vendors of more than 200+ parts which are used in our industry, finding resources like people in a small city, making dealers in a competitive market, sources of informal funds in difficult times, challenges like unavailability of low-cost labours in a small city, how to build a business with a revenue of Rs. 0 to 10 crores in 2 years. We faced dishonest, frauds during this journey. I got to know that how people can cheat the government, the businesses setups and also how to protect your business from them.
The important thing my father taught me is how to make yourself a superpower by uniting people towards a common purpose. He suggests me to include everyone with us not leaving anyone behind. Despite dealing with swindlers, he never stopped trusting new people. His trust and faith in goodwill of people taught me that an employee is not only a company member but one should care them like a family member. That is how our best employees stayed with us even if our competitors offered them thrice the salary, we could afford to give them.
“If you want to walk fast, walk alone. But if you want to walk far, walk together.” – Ratan Tata
With this learning, I suggest everyone to try their best to get some practical exposure during learning age. This will help you imagine the conceptual theory to apply it in real business scenario that is volatile and ever-changing. One thing which I saw when people get a job the only thing, they want from a job is a better salary. But it should also be considered if your job helps you grow in your career, where you can learn new things, make new networks, etc. I saw so many people doing this mistake of running only behind the salary. I hope these learnings shall help you all achieve much greater heights.
