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Maharashtrians in business – we gotta learn a lot.

By on May 12, 2009 | 9 comments

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I’m generalizing from my own example. Why Maharashtrians don’t fare well in business.

However I’m sure of receiving the payments because I still hold all the ropes. I don’t mind being evil – if required. And when I go evil – the client will say –

“You Don’t Mess With The Big K – ever”

That said, I’m learning from my own stupidity. I hope others learn too (especially the ones who are virgins in business).

The Big K



9 Comments

  1. Mayur

    May 12, 2009

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    Its all right. Some charity for the Alumni is good, not bad!

    By the way make sure to have atleast email confirmations, if not a written contract, on price and deliverable before hand. Think like a Marwari next time and dont be evil. Its the last thing you can do to be a successful businessman.

  2. Amit Sharma

    May 12, 2009

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    And I don’t see why being particular about payment terms and conditions is “non-Maharashtrian” or “Marwari”. It is something that everyone who is in business needs to take care of.

  3. Pallavi

    May 12, 2009

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    As I have been working closely with an entrepreneur (caste doesn’t matter) for last 6 yrs and have seen many such instances where clients don’t want to have official contracts and at times asking for an e-mail confirmation sounds like you have insulted them and have no trust. In our line of work advance is not the modus operandi (so you should be thankful that here you at least got 50% payment in advance). Sometimes getting the payments takes months and sometimes years (this is not an exaggeration) but one accepts it. The ones who are clear about not holding payments will never do it, the ones who have a business model where they always will- no matter even if you have contract will sit on your payments for months together.

    Our business works on a retainer fee which means if we don’t get a payment for 2 months should we stop working, can’t do that because it never works like that ‘relationship’ like you call it, says carry on the work in good faith. If not anything else end of the day you will get at least recognition for the good work you have done for the xyz product. If not from the client from a third party for sure, which will result in more clients = more business.

    I know you further have to make payments etc but then these are some of the challenges you will face day in and day out as an entrepreneur, maybe as you grow bigger you will have other people to deal with such issues and one odd payment coming late will not bother you so much.

    A workable solution: since you do get a 50% advance make sure that 50% covers all your project costs and a little profit too, and you can afford to wait for the rest without loosing your cool over it. (I am sure you must have thought it out, but still a suggestion)

    Btw this culture has got nothing to do with any caste/community etc whether it is you faring well in a business or the other party get work done from you without payment. It is all across. Your Entrepreneurial skills made you start a venture so this comes with the territory. So every businessman who wants to be in a Business and grow needs to learn the skills and how to handle the tools for being a good one- CASTE NO BAR

    All the best!

  4. The Big K

    May 12, 2009

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    @ Amit : I agree, the cast thing had nothing to do with it. But I feel we Maharashtrians are just ‘too’ modest in business. I’ve seen how others ‘get the things done the way they want’.

    @ Pallavi: I believe in fair business. The client promised that payment won’t be a problem. I delivered everything they wanted within time. Is it wrong to expect a quick action from them?

    @ Mayur: I’ve done enough charity already.

  5. Gawran Pundit

    May 12, 2009

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    @big k

    next time onwards, make sure u include a program module in the application so that it will stop working after 3 months or so….you can tell the client how to make it working again if he’s already paid or else let him suffer….

    OR

    when u dont get money from client, use the client to get free things done from him if possible..

    P.S. I am a virgin in business 😉

  6. Amit Sharma

    May 13, 2009

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    Doing things with just a verbal promise of payment is not fair business, K.

    You have provided the promised good, but he has not yet. That’s hardly fair.

  7. Pallavi

    May 14, 2009

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    @ Big K: To believe and expect that everyone will have the same principles as you is not fair but foolish. If everyone was as fair as we expected them to be then the world would be a better much better place to live in, unfortunately such is not the case.

    Instead of loosing your head over it- sit and list down your business principles and operations model and yes, next time around tell your prospective clients that you do trust them but it always better to have official contracts. Simple way, to get around it- tell them you need it for office and accounting records

    Be a SMART businessman and not evil!

    All the very besT!

  8. Amit Sharma

    May 22, 2009

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    What I do with clients I handle – the accounts department forbids my team to bill working for them without getting the advance cheque 🙂

    When in doubt blame the accountants and lawyers. They are there to make our life simpler.

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