Best Way To Run Profitable Family Business, Management & Ambani - Rajiv Gupta | FO355 Raj Shamani

30:16I think it applies to your children. set them free. Don't worry. You know, they have their DNA, their discovery. There may be a painter, there may be a filmmaker, there may be a podcaster. You know, we don't know. And I think, I'm seeing the businessmen, like so many of my friends are investing, you know, way beyond their means. Like one of them is training his son to be a Formula One driver. You know, F3 to go, another one is training his daughter to be a badminton they spent crores of reason so business owners have to think best education best exposure if they want to join well and good if they don't they can do business what is the big deal they are going big empire you are loving your little little so this is very important what do you think is a bigger problem in family business bigger because there's a younger the bigger mother that famous the page brother micromanage very clearly why?

31:29I will tell you that I will give myself the name of it PJ look, my beloved Papa I will try to act a little bit look, my nothing is nothing is made of my life I am developing you I am doing everything for you today is your mind I am from America and I have got MBA and put me to plant. There is a chapter in the book which talks about it. I am my son and my father has made a head of plant. There are five plants. One thing to handle. What did he handle? Who is the man taking the report? How much was he doing? Is he doing it or not? What are you doing? corporate me karke dekha ho me ra boss karke dekha hai meire skip level se poochke band bhaja dunga apne boss ka ki bhaiya aisa tu samalega I'm telling you I've done that if my boss does this I'll say no you will handle this department but there's a corporate governance right you can talk to my skip but you can't do you can't do this kind of a stuff so this is one example second beeta sabkuch aapka hai sabkuch aapka hai very good thing but I will not develop because I will not because I will not you are bad you are bad you are bad you have to be bad you have to be bad you have to be bad if you have to be bad if you have bad if your child is incapable I think you are responsible not the child you did not develop him you did not give him everything that is required to be and you can get away as an owner is saying that my son is a bad guy, my CEO is a bad guy, my VP is a bad guy.

33:18So I'll give you one example. I was in Reliance. I really recruited one wrong person. It was my fault. It was a robust process. I asked a question for my boss. Very kind, very nice person. I said, what happened? I said, sir, this guy is a bad guy. I said, I don't do anything. I said, what do you think? I don't do anything. He said very nicely. i mentioned then a large большеPLE the first good change students Ken don't take I asked for the question, if your subordinate is okay, it's your job, you're okay. I don't have to say that. How can you say your son is not good? So that is the problem. You have not developed your children.

34:17You have been an autocrat. You have belittled them. You have destroyed their confidence. You have not given them the value systems. 100%. And now I come to the last piece. Which I always say. And I think from this, your forum I want to give this message to all whether you are 60, 70, 80 retire at some stage please please retire because there is a reason for retirement there is a mental faculty physical faculty so when you keep clean and keep it you don't become it but top business owners in the country they run until the age of age. Today, forget owners of businesses. Our head of state, even he is very aged, he wants to run it and he is running it fine.

35:18So, every business owner thinks that I can run it. Look, I'm saying it's fine. So, the person who is running our country, I mean, I think his mental faculties, physical faculties are all fine. Okay. Great. But suppose he was Shri Trump. So what happens? So I think that's a very important point. If you have a mental faculty right, then it's okay. But there has to be one time when you have to let loose the operational control. If you don't do that, then you will never learn that. When you learn the cycle, you have to fall. You don't give it to them, you don't give it to them. So that is very important.

35:57How can you leave your home? It's slowly. Because I have seen so many family businesses. There are many friends in my house. I've seen my friends in my house. I've heard stories. Talk about many people. You're on the podcast. They're all about business. Billionaires, billion-levels. You can't leave it. Okay. I'm going to answer that. I'm going to say that we've made so big. We know the pulse. So until this is my girl or my girl, she has reached the pulse to the business. I can't leave business until I leave business. Otherwise, I will be so big. It's a very wonderful question. Two questions from my people.

36:38Sir, how old are your children? What are you 30 years old? You have lived with 30 years. You haven't taught me 30 years. So, first, resign from life. Which I have given you an example. It's your responsibility to have trained them. You should resign from life. From the post of being such a poor person. a leader. Leaders create leaders. In any assignment that I have gone, would you ask me to ask my successor who is? I know you understand. The job rotation will be in three years. In someone else's big company, you have to be job rotated means you have to create your successor. Here your child has 30-35 years and has taught me your first fault.

37:16The other thing is he is the fact. Look, there are two people. When you have built a business with your sweat and blood and emotion first gen ki baat karo aap ki life me or kuch nai hai rishthedar hobby sab chowd ke aapne 12-14-14-18 gantte karke kaam ki your identity is that business usko accept karlo na yaar ki bhai mein hi chalau ga mertet dam tach jiz dhin ten ho jau uzun na jaeyo to bete ko kuch or karne do na develop hoonne do sac to bolo yaar I want to develop. I want to give it. I want to give it. But I want to give it. Why are you not ready? What did you do? A company was a person. My friend used to work for a company.

38:14The owner of his own was 68 years old. All of them were very good. Design, manufacturing, all of them were 20 years old.

38:45I mean why why couldn't you teach this to your people why couldn't you put system process governance it's very easy right it should I mean it's a no-brainer to my design maybe my input do a sales maybe my problem here so again I'm coming back yeah or a life may be back to the city of the director If you are not able to let go and you are not able to let go, it is not easy. They should at least have this much self reflection. Or I will not let you leave. Because if you leave, I will not sleep. So don't let you leave. If you are always asking me what is my CEO, my son will be in trouble, then I will say to you, after the ICU, go back to office.

39:50job and when it's time to come, give it to others. But admit it that my identity is my identity, then don't give this knowledge that I want to hand over. Tell me one thing, do Indian parents really need honest, intelligent successors or do they need obedient sons? What should it be? A human being who can run a company or a child who can listen to his father's stories and do his work on the way. I think it is a question of proportion. If my own sense of self is weak, suppose my father has hit me a lot, a bully, a father, a bad guy, so my sense of self is weak. If my self is weak, then my psychological makeup is seeking validation, seeking approval, and I am hypersensitive about threat.

40:58it will be a threat compared to the competition in the high high low high

41:15high high percent more I can say 90 % but I have a discount 10 % to my side and I can say 95 % I have more I can say good morning I can say I can say I can say I can say I can say I can say I can say I can say if my sense of self is so weak then you can see any other increase so you need an obedient yes sir yes sir three bags full and what do you think what do you think I am a man who will see the money. I will not get it from property. If I have a brother, I will lose my brother. If I have a brother, I will give it to my brother. If I have a brother, I will give it to charity. I will stop. So I need to be obedient.

42:06I will say 80 % but my own sense is, if you ask my honest answer, maybe 95 % are like that. Maybe intergenerational trauma also. Where their father had something to do with them to stop and work with obedient. So, whoever they have seen, they give them. Look at Rocky Rani's movie. Yes. So, intergenerational trauma is seen. The mother's mother has seen him. So, I want to include it in the podcast. I lived in two cities. Delhi and Mumbai, largely. 15 years here and 15 years there in work life. When I worked here, I said, there are no tension here. There are no tanks, there are no politics. In Delhi, I said, how did I get up with my Mercedes?

42:55I would have taken it. I didn't ask anyone to ask me how much is it in BHK? There was a question before, which BHK is? How much is it in which area? In which area? In which area? In which area? In 15 crores in the house? In 5 crores? What is it in which area? What is it in which area? But it wasn't here. So I talked to one Maharashtrian person, very dear friend of mine. So I asked him, here people are very chill, they are doing good. I don't have any politics. He said, look, how are you? You are North Indian. You are in Haryana, UP, Dilliside. How many generations are you? How many times you are lost?

43:28This is yours? I said, I am okay. I am doing fine. It is a good upbringing. Parents are good. He said, it is an intergenerational memory. you are your point. So you said that there is not a lot of loot parts here. And in the south there is more than a factor. However, that's an excuse. If you are a leader, heal yourself. You damn well heal yourself and stop spreading that toxicity across the next generation and across your people. This is an excuse. My father has been a bullying.

44:06I was always the little, they were tall guys. I was in a boarding school. I was in a very good bullying. I was a good ragging. So what does that mean? I will propagate it. I healed you. What happened? I did bullying. There is no problem. We will not do it. So this is a very important point. I think that intergenerational thing, it has to stop somewhere. and you have to recognize see being a Delhiite my tone was very different when I had what happened I asked for work in Delhi what happened then a girl said she was a girl what happened what happened what happened nobody talked about so I said if you have Bombay you can't say I will talk about Delhi I will talk about why would you do so you have to heal this intergenerational if you are caring and you have to say look my dad did like this i forgive him from the core of my heart i give him love and wishes on my way i wanted to do something in family business I read the book and people said that the problem came in.

45:35Yes, I am like this. Yes, I am like this. My brother is like this. Tell me the solution. I told you my job is not my job. I showed you a mirror. I am a consultant. But some friends said I should do something. After I took a retirement from corporate life, I was 58. I wanted to do something. I wanted to do a course for family business. I wanted to course. I got inspired by the people who had read the book. I wanted to do something. Coincidentally, I had gone there for some occasion to give a, I was on a panel of some Microsoft panel AI in manufacturing. What do you do? And he wrote about the book.

46:16So, we had alignment in one meeting. We said, let's do it. Nice. So, you're making a family business division. So, we're making a school of family business. So we started with owners and promoters management program, which is like an executive PGP. Because my own thing, the kind of faculty I'm getting, top industrialists, business owners, people who work with Ambani's or Subhas Chandra or Hindu Jhaas. You know, that level of people I'm bringing in. So they may not be able to relate so well with freshers. So we launched this for five years of work ex. we launched Owners and Promoters Management program.

46:53It's an executive PGP, one-year program. But then we will also be launching courses full-time. This is an executive, this is like modular. So you keep working in your company, come and go. So we'll also be launching a full-time and maybe an undergrad. So school or family business will be a full vertical. Master's Union brand. Master's Union brand. So this, like Harvard, Advanced Management program, inspired by that? It is inspired more by a program called OPM only. It's called Owners and President Managed Program. It is inspired more by that. Advanced Management Program. So I did GMP from Harvard.

47:34It's called General Management Program. So there's a GMP and there's an AMP. So AMP, you're on campus for eight weeks, nine weeks at a stretch, right? That's more for executives and CEOs to learn. That's for people who are managing the board. Yeah. So there is one more program called GMP which I did which is for people who are now becoming country head. So Reliance supported me otherwise I couldn't have gone. So I have lot of gratitude for the company. Nice. So I gave them a GMP. Again you are 7-8 weeks on campus but you go come back, go come back. Then there is OPM. What is the OPM? You have gone for 3 to 4 weeks Then you come back, then again you go, then again you come back So it's over 3 years So OPM is targeted at business owners And GMP and AMP is a mix But I would say business owners Small percentage OPM is all business owners Your program is for parents or for children?

48:36So it's for children But we have a module for parents Where they will be coming for two days of immersion and they will attend some online classes. So, we want to tell them and we will not directly say that. You can't say that. You are like this. What did I say in the book? You see, it's like this. It has to be pointers. So, of course, in this program, but later on, we might also launch something which is exclusively for the Patriarch. This is what we have been thinking because many of my friends who did OPM from Harvard Business School so one of them tells me I understand everything who will my brother tell me he sent my brother now tell me brother who will my brother tell me so I think parents have to understand this that there is a way to deal with Gen Z so one more example we do very bad people in our age Gen Z is like this we don't do this we don't do this we don't do this It's very easy to say that.

49:41So I have told someone, is it true? So he said a good sentence. He said you cannot do their work. But if you create the best to do their work, you will do something marvellous. How simple. You have to create in them the hunger to do that work. So they will do it. Now the rule is changed.

50:12So this is what I feel Next gen If your father Has started a business If you don't have interest You have to preserve And grow the wealth You have to preserve and grow the business It's very easy to say I think it would be a disservice to the soul of that person. So he is sitting and sitting. He knows that he will do a mess. And the system process is taught in this course. There is no rocket science. But no one has told him. Because you can see this too. Raj, my son is not interested. I'll take him to the child. I'll take him to the child. He's sitting there. My mother will take him to the child.

51:00He won't do it. He has a certificate in the blood. he will be more than a question because he will be more than a question he will be more than a question professional will be more than a trust family trust the world has changed the world has been changed the world has become the professionals and this is a fact integrity issues professionals I think we should talk about it many business owners say that I do it I do it I do it I will give the other one and take the loot. What will I do? I will stop. Don't do this. Don't grow up. It's not the option. It's not the same. You will buy the other one.

51:46You will buy 4 stores. Then you will leave the scale. Leave the stuff. Don't give it. 400-500 crore. If you take it, you will have risk. Are there mechanisms to have oversight that the person is capable but the integrity issue is difficult to get it from the system process. It was easy to get it from AI. I tell everyone that they are watching all the employees. I have seen all the business owners. I have seen the rest of the clients. I worked as executive assistant to Mr. Siddharth Shriram. Very smart guy, MIT grad. Treated me really well. So he knew that. I was in his office. All reports came out.

52:39Young man, I know. You will take action at the right time. So if you will have to destroy someone from this fear, then what will you do? Take Harish Chandra. 바bij Boo mentioned expressing something that vagina pieces of magnitude the care it gives you everything professionals and everyone is there everyone everyone is there you can guarantee that your brother your son your son your son your system only system and the owner can do Exactly. Exactly. I think that my own business is not a business. I do it, it's a character deal. I do it, you do it, it's a character deal. I do it, but I don't do it.

53:44So I'm saying that owners have this ability to be capable. If it's capable person, it may have integrity issues. So after AI, it's amazing the kind of data discrepancies that, you know and we are going to talk about it in the course that he throws it of course I have not grown with so much technology but today that layer if you put off AI it will also tell you the trends that this vendor has a lot of business or that this thing is not good suppose in purchase QCDM is a quality you know quality cost или зачем Мин啦

54:53В ours you are and your life.. and your big thing to do and your auvel… if you don't have interest in your business and you don't have interest… your passion or interest when Mail enter to do nothing inside your situation that you 생겼 homo do not do it

55:19you do not even do it You are also disservice with yourself and disservice with them. Either you can run their business or your good luck with yourself. I agree 100%. But the only caveat in this is that your interest is not your interest. You should have a plan and what should you do. So I am saying today, look, I am going to study Ivy League undergrad. I worked for three and a half years. I had my startup where we used to send people. I am figuring out my interest. I went for engineering, then I did art history, then I did Greek. Then I took some courses in literature. So a parent came to me.

55:57So I said, Rajiv, it's very good. Because he reached the Ivy League. I said, now, you're going to spend half a crore. I'm figuring out what to do. What do you want to do? I don't know how much interest is going to be. Today, there are children who are young. So I'll answer you. Sometimes, Raj, I don't know what my interest is. If your interest is not in family business, you pursue your passion. pursue as I said 50 ,000 ,000 1 ,000 ,000 1 ,000 ,000 after if you have the way that looks good then you go to manage this mechanism to do system process professionalization governance control etc MIS dashboard system you can build and other proven you can do but you can do oversight you can do something you can do another you can do that you can do you can do you can do that you can do I will change the thing.

56:48Once in a month, you can do board review meeting. Weekly MIS can do it. Yes, 100 % agree. One asset is giving you cash. Why not use it to your benefit? Use it to your passion. Use it to your passion. But if you know professional, I have a name. I can't take a name. He's in my network. Owner has more money. Net worth.

57:25avoid you are taking the CEO. If you know that this owner is a musician, he is a musician, he has no interest. You have given the love of your life and business. He is a leader and you will be a leader. So, he has oversight. He will review the board, his KPIs will have a huge variable component, which will be linked to the top line, bottom line, CSI, employee satisfaction index, blah blah blah you do that you do that you do that you do that you do that you do that and pursue I think that is the way but act like an active investor exactly act like an active I am owner I am not executive but I am like a an active investor who asks a question when I ask a question in company something wrong I will message the company I will congratulate and keep everything in the way where do I go this is this is this is because if you think because I do you hear some of the thing he hands off hands of them and have a up bill besides golf

58:35Gina okay you

58:40longer

59:10friends No, no, no, no, I said, no, I define this. So that guy, let's say, defined the thing. After that, a person is hired for 30 ,000 rupees. The owner says, I didn't tell you that he hired me. He had to come to 20 ,000 rupees. So if you stay in this state of mind, then nothing can happen. You have to understand what game you are playing. So when people say, be hands off, It means that if you don't trust your CEO to be so much executive decision to trust, then you should remove it. 2 crore or 1 crore you should save it. If you don't trust your CEO, then you should remove it. But if you don't trust it, then you should know as owner that you should give it and not.

1:00:11you can leave it on the floor. You have to ask questions. The budget was the year, the year, the year, the target. Why was the variation coming? What was the reason for the variation? And a lot of the expatriates I have worked with, after they understand Hindi, they say they give a lot of good goals. Goal? They give a lot of good goals. This is the reason. So I think that is the best way forward. if we see family business pursue your passion put a governance mechanism don't abandon or abdicate the business that has been made with sweat blood emotions of your fathers or your mother whoever that's not right maybe of course business should have certain scale and size to be able to do it but mechanism if it's a seed objectively I mean, if you are not aligned emotionally, so objectively, this is a cash generating asset which is really important for my entire family.

1:01:19And this thing has a lot of sweat blood of my father. I want to preserve it because that's his wish. So let me just preserve it in a way which fulfills his wish. That's it. You don't want to scale it further. you don't have to do 100 crore, but at least do it, that the next year, 120. Exactly. That's the Hindu growth rate. I mean, that's what I'm saying. Index beat.

1:01:50That's true. That's how we do reviews. Like, how much growth in my industry? That beat. So, let's take a professional. Either or not. So again to summarize you should you need not abdicate or you need not sort of give it up. But at the same time don't count 28 ,000, 30 ,000. This is a great thing. I will give you an example. One party was in a party. Then we got a samosa. Munim Ji checked the bill. Munim Ji saw that there were 100 samosas. Korean Thanks

1:02:37Haiti There

1:02:45foreign

1:03:14transit trade If your executive is of this level and this samosa example is real by the way. You know, if you don't have any trust in your samosa, you will not know what you will do. If you have all your shirt and pants, you will run away from it. I think it's 100 rupees of transport loading that's the one that's mehengi 100 rupees is the setting 100 rupees business is running 100 rupees and 100 rupees is going to be at it and there will be many hours of meeting and there will be a lot of noise so the rest of the work will not be in my first statement my book is called Good Indian Employees Guide to Surviving a Lala Company I wrote it for employee My first statement is that 1 rupees to 1 rupees to 1 rupees.

1:04:08Think about company money as your money. I should be afraid of money. I don't say that 100 rupees is inconsequential. I don't say that 300 rupees is inconsequential. Because that 300 can become 3000, 30000, 30000, 30000. I should be afraid of owners.

1:04:34If you are being manipulated by your Munim, who is planting such stories in your mind without verifying, if he gots 300 rupiah in India then I'm going to this extent you can do that you have one-to-one meeting to say, what happened what happenedviant viant 300 rupiah and then go to the bottom don't run your company based on imagination no Lala who told you? Lala family business owner trade simple trade either I am a king or I am a god mostly I am both

1:05:26I don't decide I don't do this. So, I work both. I am the God. But I have come to rule everything. And these are all my servants. And my family will go to their house. Will they all die if I will not die? That's the one. But all family business owners are not LALAs. Yeah. Absolutely not. But we are talking of that segment who are still not able to overcome the generational memory

1:06:24for making children Now, a small range is not being able to make any big business. Why is it happening? And the ones that have become bigger, they are bigger. I mean, the new family businesses are not being able to make any bigger. Why do you think that's the reason? So, let's talk about statistics. Out of all the family businesses that we have, so family businesses in India employ 60 % of the total man force, manpower in India is employed by family businesses. 60%. Take a guess. What a contribution. 70 % of the GDP is contributed by family businesses. 80 % of all businesses in India are family businesses.

1:07:08So isn't this a fabulous news? Crazy. And they have taken the jewelry of wife's wife and put everything on the job. Like, it doesn't become like this. You have to put something on the job. You have to put it on the job. You have to put it on the job. You have to put it on the job. This is only in the mohabar. So I am saying that business owners are all things. So this is good news. Second good news is that 111 top companies market cap is only 890 billion dollars. Which means 74 lakh crore rupees. So now think about India is the home to It is the third biggest number of family businesses in the world are in India.

1:07:57And if you see the returns that have been given by the family businesses, that is better than all other companies. So, everything is bigger. So, 74 lakh crore is how much is it? 1-1-1 family businesses which are 111 family businesses which are top of the top is 74 lakh. So, imagine what we are talking about. They are something. This is the good news. Now, we are coming not so good news bad news not so good bad percent small or micro so you know 5 crore around 19 percent 20 percent are medium and only 5 percent are large more than 300 crore is only 5 percent the frequency distribution समझ में आ गई और इतने सालों से चल रहे हैं यानि के कही ने कही जाके अटक जाते हैं अब इसको further एक और bad news पे आते हैं and you know I have verified the statistics from multiple sources because it seems very counterintuitive but it seems to be true second generation तक सिरफ 30 % business पहुंचते हैं 70 % 30 % 3rd generation 15 % and 4th generation 5 % and it's not very different globally and in India which means something is not working right so what I have seen is that why do they don't scale beyond a point that's your question I'll give you an analogy then you'll give a direct answer

1:10:10to give you the famous to 100 going to 100. You think your first employee was who was? He was a profitable. I am doing something. Or a friend. So, there is no need to do anything in life. He will be with you. Starting is like this. You understand that. I am going to take 0 to 100. What were the skills you needed from going to 0 to 100? You could do it. You could do it. You could get people who are unemployed.

1:11:06So what got you here won't get you there. the skills that you learnt in 0 to 100 are very different from the skill set and mindset and heart set that you need from 100 to 500 so that person gets stuck the second the kids get bigger if I started with my brother brother did something else brother did something else his two kids and my two kids how many have we been in 25 years how many people have been in the family 6 have we been in my brother my brother and my brother I have a story that has been a story. The business has a dynamic. The need is to get you there. You don't have that mindset or skill set.

1:11:47I don't know how much I am. I don't know how much I am. All these are all jobs. When you are in a hundred crores, you are not taking a 20 ,000 -$2 ,000. You are not taking a 20 ,000 -$2 ,000. You will not have another job.

1:12:10You need to change that value system and plus you get the complexity of the family. And third thing which is very important which I am seeing is I don't want to make a system. I will end up with my entrepreneurship. I will go with my own. I will come with a meeting. What happened to me? Which tree has broken?

1:12:54This is the big issue that they need to change the way they are dealing with all the

1:13:30stakeholders. I have asked this question to a family business owner. You are our net worth of 1000 crore. You are three people. In the situation, you will come 330 crore. I said, let's go, someone has cheated on you. You will come 200. I don't have to worry about 133. I have to take my part. I will leave it. I will know it. It is not about how much I get. It is how much you stole. Now you take TVS group. There are not four brothers. There are five or six factions in the family. Have you ever heard something about the food? Murgappa group have you ever heard? How many of you have in Godrej? First there was a division in both of Godrej.

1:14:18Then there was another division. Then there was another division. Have you ever heard about the food? No. Why? Because they play by the rules. They play by the book. I am saying that you are my own. Now, do you know who is Ponty Chaddha? There is a group called Wave. They are very big builders. Having lots of properties. Liquor barren. Liquor vicar. What happened is that there are two brothers. Ponty Chaddha and the other guy. The big brothers are all trying to get rid of it. to leave 5050 to leave 6040 to leave the farmhouse. The little brother said that I would also like to take this home. So, he sent guards to his house to leave.

1:15:09He said that I wouldn't leave the house. He said that I was not leaving. So, he said that he was chucking him out of the house. The little brother. He took the property and the business control. So, what happened in that hole?

1:15:32that

1:15:50yes and you have to do a lot of work, then there is a mismatch that one point when you think that that doesn't do anything, why do I do money? Why do I do it for the money, for the money, for the gambling, for the party, for the shock, why do I do it for the money? Fair point. There is a point where there is a mismatch, a fight, a different house, all of that is fair. Both are doing business. Both say, the direction is different, because there is a different business. But why do you get so much that I will break it, So, which came to me. And some of it is, you know, insider stories while I was writing the book.

1:16:28Because it doesn't publish anywhere. There are two reasons. When I was growing up, if my big brother has always seen me down, then I am already bum-goling. I am a rebel looking for a cause. I'm ready to go. I'm ready to go. This is a very big reason. What happens in the book? What happens in the second? We say that it has been a lot of waste. What happens in the bigger ones? There is also a chapter in the book on that. Suppose you bought a car and you didn't buy the car. So the other people who are bigger are in the fire. Okay, you took me back. Why are you driving?

1:17:21and when you get married and there are you know your partners involved and there's a lot of competition so when you are meeting socially mirchil masala people who give them that they give them that they say this is the thing tomorrow you will take a business this is the thing you will give them The wind will break every day, it will break. Let's go. So again, if you have a locus of control, that's why in this course we are focusing 30 % on self-management and self-mastery. How do you put the light on me? If I am fine. If I put the light on you, I will put the light on you. Because if you know, and don't you think it would have happened with me?

1:18:13Somebody wants to settle a score with someone, that's how he was talking about you he's a boss, he's a bad guy he's a bad guy, he's a bad guy I'll cut his head, I'll say no one's bad I don't know I'm bad guy what the insecurity is that also flares it up so one the other person is acting smart and you are insecure I think best it is little theoretical I don't know why can't they sit across the table and finalize it but the groups have done it's not a theoretical construct. What do we think that TVS will not be broken in the TVS? What do we think that Rahul Bajaj Ji has given him to Rajiv Bajaj and Sanjeev to financial services?

1:19:02It will not be done. When Bridge Mohanlal Munjal Ji has given him to Pavan and Sunil Kant has given him to other businesses? It will not happen. It happens. What is it coming to the bazaar? What is it coming to the forest? There is a way. See. Family constitution. Family constitution. Family council. There is a code of conduct. But if you say this. My mercy. I don't listen to it. Then there is no law. No law. But if a patriot is so big. A terrorist is so big. or so powerful, it becomes his duty to clarify and document everything. I think that's very important, but people are not even aware that there are such a system and processes available.

1:19:56Let's take another example. I married my daughter, paid 10 crores, I was free. Now it doesn't make anything. It doesn't make anything. It's been 5 years ago, 50 % of my family. Who's wrong? The law says that it's equal inheritance. Do you write your daughter's share? Write it or document it. Don't feel sorry later. So, summarizing, emotional issues could have been built up over the years. They are ready to burst. second one guy acting smart can be the other one third usnay meeri izzat uthali uthali to my isko to nechcow ga mahin yevhi statement sunhiya hai you know eek bende ka mahin interview leger ta mujhe yaad aya mahinne ka hai is process me tira ko kya milega haar bhi sakta hai kaita ya khud barbad ho jau lekin usko joruro karun ga to yaar jub is mindset se yaap kar raha yukam So, it's not a cure.

1:21:03It's not a cure. Okay? Last question. If someone has such a conversation, now they want to do a family business and make a good job. Because I see the scope, growth, my dad, my mom, my dad, my son, my son, everybody. And together, they want to make a big. Because actually, family business with me is a great thing. if you play all love and love and love you, without any status games. Who is watching? So, he wants to do it. And he is in his 20s, 25 years old. And he wants to say to his father, he wants to say, father, it's my fault. So, he can explain it. What should a 25-year-old do in a company to win a 50-year-old's mind?

1:21:53The most easy way, which I have already given an example, is MIS. First, I'll create a dashboard. dashboard में यह clear होना चाहिए कि मुझे यह मेरे company का business plan है यह मेरे parameters है क्या आज मैं 100 crore का हूँ मैं 120 पर जाऊंगा फिर 131 three year rolling plan one year fixed plan जब one year fixed plan बन गया उसको KPIs में तोड़ दो production quality CSI you know employee satisfaction index EBITDA gross margin productivity turn over time यह सारे आपने agree कर लिया then, I will tell you, which I will tell you, I will tell you exactly what I will tell you, two columns. And one column is one thing.

1:22:36Papa, this is your job. It is difficult, but it is impossible not. You are good at it, manufacturing, you will see this. First, two responsibility matrix clearly divide this is the first point so business plan KPIs responsibility matrix third delegation of authority I can't pay how much money I can I can't pay to see you if the budget approved and cap and cap and cap I can't ask which I can't ask which I can't ask the biggest problem. We will talk, discuss, we will give you approval. If you discuss this, it is your approval. It is your power. No discuss. I will ask you this without asking. If you do this, the starting point, I think you should run with this for six months to one year.

1:23:39I think this is the starting point. And then of course, there are many other things. Then you can have a dashboard, then you can have governance mechanism, how to conduct board meetings, how to do business reviews. There are well established ways which you are also teaching in this program. But you can start here. That the 50-50 things are coming up with Papa, 5 people are coming up there. Take rubber and put it there. And you can see that they are giving you to do it. Then you can say, Papa, this was my power. And you were making this much money. So don't do anything here. That's the starting point.

1:24:16Because you have to get the signal in your father's brain that I can remove my mind from these 5 things. Then it will be 5 or 10. Then what will you do next year? Papa, it's 5. Now I'll take 5 more. Now I'll take 5 more. Then it will be 25 or 30. And then you have sent a brainwave into his psyche that I've given it to him. I've done it right. He won't do it.

1:24:51you also have to have a mechanism for let go true it's it cannot be just claimed by you know rhetoric on your stripes it's a very good and very easy very nice way to start because then at least activity may either clear how to do it or clear that no ready to do it exactly and in both ways you are winning both like father is winning grandfather is winning son is winning daughter is winning whoever is involved it's a great way to do it perfect well thank you so much sir thank you so much for giving such amazing answer thank you thank you so much thank you so much for watching this episode end now you have to do three things first first this channel subscribe because as much as you subscribe we will get better and valuable guests for you.

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