Time to learn from Marwari ‘School’ of Business

Four hundred and fifty years of Portuguese Rule has made life of Goans perennially relaxed and in festive mode, indulging in unending celebrations, year round festivals from wines to films generously sponsored by Arts and Culture and Tourism Departments of Goa Government and seasonal elections. For topping, there are day and night casinos 365 days a year.

‘Sussegad’ culture under the garb of well-deserved easy and relaxed life-style  which was  earlier restricted to traditional so called aristocratic families, has now pervaded in all sections of the society and has made them sluggish. To support this life style, there is flow of money from the Sixth Pay Commission salaries (1 out of 14 is a Govt servant), bribes, kick-backs, illegalities, government contracts, renting of shops, underhand dealings of local body members from construction licenses, corruption, and govt doles under various schemes and evasions of Central and State taxes. In left over time, they attend to their business activities. 

During the Portuguese regime, businessmen including mine owners flourished in a closed and protected environment since no persons other than Portuguese citizens were allowed to set up any business in Goa. 

Talents and enterprise of Goans-Hindus and Catholics alike, who fled from the Portuguese rule to distant places like Mangalore, Sirsi, Udupi, Cochin thrived and flourished with their business acumen, enterprise and hard work. Rego, Albuquerque, Saldanhas, Kamaths, Pais, Prabhus are some of the very well-known names.

Only when Goans went outside, did their talent flower to make big names in music, art, literature, media, defence services,  film and hospitality industry. In Gulf countries, Goans are preferred by Sheikhs for their integrity, honesty, discipline and administrative skills. In hospitality industry in India and abroad their culinary and service skills are in demand. 

Goa’s skilled artisans and craftsmen have vanished and their children devoid of any skills are hanging around politicians for soft government jobs.

Second generation of traditional business families, flooded with cash from legal and illegal mining, real estate, political deals, have lost their animal spirit of risk and enterprise  and are content to live with good  life, foreign tours, SUVs and flashy cars, luxury apartments and mansions, cocktail parties with parlour groomed middle aged wives  in latest designer  attires and  outfits looking forward to be on Page 3.

One of the favorite topics of Goans in general is condemning ‘bhailes’ (outsiders) and at the same time desperately looking for their services as plumbers, electricians, painters, carpenters, maids, garbage collectors, construction workers, contract labourers and even for their morning daily bread. 

Other have-nots and those who are not fully occupied turn activists and, keep themselves engaged with unending agitations and protests just looking for a cause to protest.  

If the young generation of Goans do not wish to be second or third rate entities in their homeland, they should roll up their sleeves to break away from this ‘Sussegad and Festival Culture’. 

Instead of going to business schools, they should imbibe qualities of enterprise of neighbourhood ‘marwaris’, who are successfully running their business establishments from Mandrem to Loliem; open from early morning to late night, 365 days a year adjusting to alien culture and environment. One can learn a lot from Marwaris by observing and implementing their business sense, enterprising spirit, innovativeness, hard work, service attitude; art of procurement, display and marketing style, discipline and modest simple life inspite of riches. They are charitable and philanthropic too.

For a Marwari, business is a passion, love and joy.  For him business is a priority above anything else and he believes in “olkhan” (introductions) to expand business operations by leveraging community network of helping each other. He is free from jealousies and has no time for gossip. Being money centric and money conscious, money opportunities get easily attracted towards him by Law of Attraction. 

A Marwari learns tricks of the trade since childhood from his family. However, he will never venture into business on his own unless he has honed proper skills as apprentice in tough conditions and has dirtied his hands.

He greatly values accounts and engages a ‘munim’,  prior to anything else to record movement of  each and every  stock, cash, collections and to draw daily profit and loss statement, and will not leave his shop till stocks, banks and cash are tallied, and outstanding balances are struck. He is an expert in making detailed cost break-ups, understands the real cost of capital for use in productive assets. ‘Partha’ system of accounting is unique to Marwaris where cost per unit and production quantities are predetermined to measure daily performance of  production, costs, earnings and to take immediate corrective action in case of variations.  

He is trustworthy and maintains his commitments at all costs and invariably maintains clean record and healthy relationship with suppliers, bankers and tax professionals. 

The art of procurement is learnt at early age through hands on experience. He learns to buy best quality goods at lowest price and in the process he develops the skill of scouting different markets to find best quality merchandise, and locate best vendors.  He learns business forecasts through study of movement of prices and goods at different time of the day and different seasons and ability to negotiate prices; new business trends with up-dates in technology. 

Classic example of this one can find in Panaji fish Market. He (pure vegetarian) is perhaps only Marwari in the world dealing in fish.  By following this art of procurement, he has monopolised fish trade, marketing best quality fish and prawns to locals as well to five star hotels of Goa.

For Marwari, customer is God to be welcomed with smile and service. He displays merchandise with full attention without irritation even when he knows that the customer may not buy his goods. Precisely for this reason ladies of Goa prefer to buy goods from Marwari merchants of Belgaum for the special attention, and recognition they get which makes them loyal customers.

He leads his children and employees by personal example of discipline, frugality, hardwork and avoids wastage at home and in work place.  His vigorous bargaining even for small things is to inculcate habit of savings and cost reduction. 

Though Marwari salaries are less, employees prefer to work under them to learn and gain experience in the trade and to enjoy independent power he gets to deal with customers and in other matters. The employee is also sure that his employer will come to his help in sickness or marriages of his children and will get retirement benefits on time.

Marwari never has ego or jealousy problem and takes inspiration from capabilities of other person and knows how to use it to his advantage. He can sit for hours outside clients office to book an order and while waiting develops friendship with secretaries, personal assistants to get latest information about their trade.

He avoids arguments, criticisms, and litigations and carries an ice factory on his head and sugar factory on his tongue.

He is ambitious and well informed risk taker, never cowed down by obstacles or problems and can find ways to overcome them in any situation. The family is his strength. All members of the family have food together and particular time of the day is fixed to exchange and review daily business reports, share information, knowledge and to plan for the next day and week.  

Fun all the time and no work has made Goan a dull boy. For survival in this challenging, competitive, and innovative world; there is need to blend Marwari qualities of enterprise for growth and prosperity; and to enjoy life in meaningful way.

Note: *Marwari here denotes special qualities of certain Indian business communities like Marwaris, Gujrathis, Jains, Reddys, Chettiars, Khatris, Khojas, Boharis, Memons built over  generations through strict practices. Certain Goan entrepreneurs and activists in public life are doing commendable job in various fields.