Billionaire Business Mindset: Marwari and Jain Community Secrets | Keshav Inani | FO444 Raj Shamani

41:42Because today's time communication and travel is so easy. I don't have to stay in Mumbai to earn from Mumbai. But what is the advantage of a big city versus a small city? Who's advantage is the advantage? Both of their pros and cons. Big city has more in your money. Upfront. But opportunities is the advantage. Opportunities not always relevant I had to just fly down to Mumbai I was staying in Bangalore but if I stayed even in Gulejgood I would have taken a train to Mumbai and would have come to the nearest airport and taken a flight to Mumbai

42:14in fact, in tier 2, tier 3 there are opportunities more than that because what type 1 has been worked in tier 2, tier 3 has not been in every place if it's basic to replicate it it will happen hotels today people want to go out go and eat food. Today, maybe they will have any dominoes or anything like that. But if you open a decent pizza outlet, then you can go. Yes, it won't go much in the city. But, it will do more in a city. In a tire-to-tire-three city. Because your rent is cheap. Your labor is going to be cheaper than here. Right? But don't you think in which city there will be more action in which city.

42:49It doesn't need to be because there is just so much connectivity. Today, you know, around people where everyone hustling But how many such people get inspired by that hustle? You can say it because you find a place where you find a opportunity. You feel like you're going to be big, big, big, big, big, big. But every one of you is the same. So, when you think the same, you don't have to be the same. You don't have to be the same. even no people go in comfort zone because people have a target set and that's that someone will take 10 someone will take someone will take 1000 but after that people go into their comfort zone very few people can always keep changing and not only chase monetary targets like your target is not monetary your target is the biggest podcaster now that target is always keep you motivated irrespective of your earning is 1 lakh 10 lakh or even a crore when you don't reach it, it won't happen so initially people's monetary targets I'm sure you'll have to have a monetary target that's so much then when that becomes a qualitative target and you want to maintain that that's when people keep true, which habits that a dreamer should daily do because of which he can complete his dreams manifestation I'm a big believer of that second, shamelessly ask ask, you'll get something will go.

44:25Trust me, it's my trust. I was going to ask someone to anyone. I was asked for a lot of questions. What do you think? Because if you learn something, if you don't learn something, then you will understand something and you will ask something to do with this person. I feel like if you can do these two things, and the third one is basic discipline. You need discipline. If you can't do discipline, you can't do business. A lot of reasons why family businesses today are not successful is because the next generation is not disciplined. or they don't carry that much discipline as much as their parents and that is the reason why parents also don't allow them that much I don't think that if someone is sitting 14 hours and wants to work, they'll say, don't do it or don't do it but because they saw that comfort they're doing 8 hours and thinking they'll do it, they'll do it so it's not always the parents fault so if you do these three things, you'll be 100 % successful you know people with fixed routines and fixed daily habits they end up burning more in their life they end up getting more successful in their eye on an average exceptions obviously but you have to do boring things habits are boring people say it's very boring I want to switch that's not it but switch there's no scale for example if something is boring if you have to do a podcast then you have to do a podcast you say I'm bored now I'm going out of one month now I'll do a month I'll do a month I'll do a month if you're going to break

46:11If you don't put content out for a month, you're a content creator. People will lose you. I mean, you will lose that growth trajectory. I agree with this I am a big believer of doing the boring thing everyday and I feel koi bhi cheese koi bhi cheese that time thing interesting rehti nahi same here you have to fall in love with the boring thing that you do everyday that is what a scale scale you will have to be before you 100 podcasts pit you will have to be with the problem you will have to be 1000 views I don't know 4 views before you before you only 4 views if you don't I agree with that. I mean, I mean, many people who do jobs like that, they feel like they're not getting bored, they're going to do something else.

47:01And then, they go to where they go. Then, they go to 6-7 months, they go to bored, then they go to bored. Then, they go to business. That's why the number of successful and big businesses are limited. If everyone feels like it, it doesn't become because it's a fact. You take school, discipline is fundamental. It's not about job versus business if you are disciplined then you will become successful in life in your own sphere success could mean different to different things for me that's the biggest company for me that's the biggest company for you that's the biggest podcaster for you for everyone success means something else for some people it is spending quality time with family that is their success but that also they need to consistently do this everyday they need to finish their work in time they need to ensure they have enough money or whatever they need to ensure they are sitting with their children they are teaching their children the right thing so the reason which people don't do is also the reason why so many of them are not successful but everyone thinks this is luck came out of it look where it reached do you think the ability to fall in love with boring things is equally disproportionate like is disproportionate to the kind of success you're gonna make in life 100 % you're gonna be in life yes you have to love what you're doing every single day now it's possible you don't have fun it's inhuman if you tell me I'm going to say that you have 1000 podcasts recorded and all the 1000 people have enjoyed it.

48:22It's okay to be in the world. It's possible that you will be in the podcast. But that's okay. That's your work. You have to keep doing it every single day. And you cannot glamorize that. Glamour is businessman's biggest enemy. A businessman never glamorizes his work. His world glamourizes. He can say that he is in 10 crore in the car in the car. He is in the car in the car. He feels like that. But after that, he is in the car. that's the job of today. The person sitting on the phone talking about how he will do his work. So, he doesn't make his life so glamorous. Why? Because he doesn't have time.

48:56He doesn't have time in discipline. He doesn't have time. True. Why do you think that you have to take the top six, seven entrepreneurs who you have to name? Why do you wear a standard uniform? Why do you wear a standard uniform? White shirt, black pants. If they wear something else, then you push them. Okay, that person can't afford this world. Same with Mark Zakabak. Same with any big person, right? I have seen how many podcasts you've seen. That's a boring solid shirt. I have a black t-shirt. That's a boring thing. Because it's just easy. You put it on your head. If you look at me, I'll wear white or black.

49:30In these two, the job is done. The pants are 4. The formal pants are 4. They'll change. Today, tomorrow, tomorrow. Because you don't want to waste your time making irrational decisions. I'll wear this or this. When I go out, I want to dress up. I'll I'll I'll I'll I'll I'll I'll I'll I'll

49:50I'll you think that you are here thinking that you will talk about what you will do that you will not think about this that you will see me in the clothes and say what will you say that I feel good because the camera doesn't matter the difference between my face the camera doesn't matter the difference between your voice the same thing with business if I go to business every day a lot of fancy of fancy clothes I will not matter my business will not matter my business will matter my decision is fatigue can I make x number of right decisions and business owners and their work is this, take 10 decisions in a day, but that 10 almost correct decisions.

50:23If a person can do that, then it will happen. And a person's decision making ability is limited. If I ask you 30 questions today, you can only give me right answer on 15 of them as a decision choice. But if I ask you 10 today, 10 tomorrow, 10 day after tomorrow, your ability to give me correct decisions will be a lot higher. True. You don't waste your decisions on deciding what I do or what I do. Tell me one decision that you have taken in your life, में जिससे शायद आपकी फैमिली अग्री नहीं करती यापकी community मारवाडी community अग्री नहीं करती यार मेरे को ना cars का बहुत shock है right shock ऐसा नहीं है कि मैं car चलाता हूं यह वो करता हूं but मेरे को लगता है अगर मेरे को मन में कोई चीज पसंद आई ना I should just get over that thing the way to get over that thing is take it and I'll be over it so like I had bought a BMW very early in my life this was when I was 24-25 because I was like so much to say BMW car BMW car I thought what is this today I'll take a car that's the same I took my car that's the car we sat down two days now this is normal right family doesn't agree to it family said you have a tax just because my dad didn't send me for that US trip when I was in school today I was thinking that I am going to international business class in my class I don't go below business because I feel like if I am going to my level downgrade then in my head I will be okay to adjust everywhere today because my money I will do more than that simple thing because my money is so much and I have no option I will do 20 hours I will do this job because I want to live that lifestyle it's not for people I want to do that my family doesn't agree to it my family doesn't agree to it my family says you go to Dubai why do you go to business class what will you do so okay but me to feel like if I have a salary to earn will go down I say, if I have a salary then what do I do?

52:08now, there is a salary to earn a salary when it is a salary, it will be a big business this is a lot of people who say that they say, God please increase my salary increase my salary increase my salary that's what I have heard which is true When my fatherhim When their grandfather What about their grandfather They sort of Like the Hence

52:40My fatherof I spread my dad 증onsider My fellow friends On the same income level Their necessarily so I probably don't have 10 % of his money. Depends on it because you've never had enough money. You've never had enough expense for yourself. I need to do this. I need to do this mental blockage. It's to each their own. My money is more than me. I like to adventure. Maybe you've got more money. But I need to tell you what I'm telling you about. What I keep telling about myself to me. How I describe Keisha Vinani in my head. That what Keisha Vinani is in my mind. And when Keisha Vinani is the biggest business.

53:24India will become the biggest business. So, Keshavina will not make it. He will make it 10, 20, 30. When the Lord is given, it will make it faster. But, he will make it. And again, this is what you need to keep telling for yourself. And everyone says, you aim for the stars. You land on the moon. Or at least on the treetop. Which is still way better than from the place where you are seeing. You have to do that and you always aim higher. What's something that you do? What do you do with something that you hate the community? hate you and i can save cost but i think i think if there is a deal where i have partnership with an financing iquel

54:46and that will always make you successful it is not about earning alone I think Marwadi's starting initially they wanted to become and then the rest of them they wanted to be I think you can become you can become five other people take it to become these five people never leave so I think Marwadi community I don't know my father hates me they say why are you giving so much why are you talking what does it mean I don't think I think if you are fair to the other person and the people are watching and the Marwani community has a lot of things which you can see that you can see that you can see that you can see a genius scale when people talk about it they didn't do it they were where they were where they were some help they were same thing as in Bangalore founders I have seen Marwani community I have seen very few when business owners help in Bangalore in Bangalore there are a lot of you can ask to ask me for example for example, when I said that I have to connect with one person in my circle, all the people who have been with one person all have to beat their hands.

55:59This is not the thing that everyone does. The network's strength is in Bangalore, in the community. They are helping to help, the community is made by one another, they are ready to help. After that, if it's better than good, it's better than bad. But they always help. and they are willing to do something for the community Bangalore founders are willing to do for founders as a community someone is struggling to do it it may not be a very big thing for them for example when people knew that I was coming here my friends who know you they said you want to talk to them I'll tell them you're my friend it'll become comfort for them and that's just such a big thing who has time for today to help in the future And without expecting anything in return.

56:48There's no benefit if they talk to you or say something. But they offered. True. You know this, you're so right. I noticed this in JITO. I recently went to Sri Lanka. JITO community. Jain community. They all trade together. They all all together. It was incredible to see that a community from so many years, from so many big businessmen, all the same and help us. There are rare communities which are scaled by operating. I don't know India has another community that is scaled by. I have used to have a 500 crore of a discount because they all have one and they all have one quarter target will be one month.

57:31This guy will do and will do proportionately. 500 crore of a discount in the 200 crore of a discount. I am impressed. When I saw the Jain community when I saw it, it was so incredible to see. all help are helping all the community in this scale are so big business in India many communities are on their micro level in India all the levels are on their micro level JITO JITO famous community JITO JITO JITO JITO JITO JITO JITO JITO JITO JITO JITO JITO JITO JITO JITO JITO JITO I will never take the time away from them They showed how things can become good But the rest of them They follow them Because they don't have any issues They don't have any issues When they don't cut them They're all fine When they don't cut them They don't cut them You'll call yourself business owner I love calling myself I love business owner I feel like many people They're all angry Why?

58:39If you look on Instagram I will tell you how many videos are made in the company. My mother had a company. My mother had a company. What is a company? These are the money. You can take any startup in this time. People say that they are a company. Founders are a company. They are those who teach them from childhood. They say that if you earn 1-1, you will earn anything from it. You will create something. Only two things. I'm a business man I'm a Marwadi businessman Why do people sing with Lala? They think they're very typical Because the oldest business It's also because of Bollywood They made Marwadi money lenders In those movies They're sitting with a big big dog Who's taking money and running But that's not true India's biggest businesses Are made by Marwadi people And they've been always thinking Right of the time you could talk about EdTech right Allen Institute who is the big one

1:00:11BM sir and people like to keep it that way Adi Galti Bollywood movies other people don't know but maximum number of billionaires in India are Bania Marwadi Panyal Agarwal sir right Dhirubhai Ammani sir Mukesh Ambani sir Gautam Adani sir Marwadi Bania Guchrati it's all the same community which people first understand how to do it traders and people were up to this because they were mixed but they were still in their culture with someone else. Why are they sitting in this? I can be one of you guys without having to do what you guys are doing. Right? I mean, if someone doesn't eat non-veg, if everyone eats non-veg, I can still stay without eating non-veg.

1:00:55It'll still be a part of that circle. Which is not possible for many people, right? I mean, people can do something for food. Marwadi were the most adjusting people. That comes from the geography from where they come, right? Rajasthan, Haryana, Gujarat. These all places, environment was not always good. right when the fertility was not in the soil they had to travel and they were invaded the most number of times but every time they came back every time they came back Rajasthan was late today we were talking about Rajasthan what happened in the world what happened in the world there was no water but people started living they learnt living the fragile way people say but I don't think people are confused they are not frugal and people know their value you go to the marriage you tell me tell me the marriage why why do they spend so much in marriage my family is also from Rajasthan is it?

1:01:45we are from Varadpur we are from a village of Jodhpur my grandfather but the truth is that some of the biggest business since in India came through these people and it came through the hardship they have lived through they know they don't know me I don't know me I don't know me I don't know me I don't know me that's why majority of the Marwadi businesses are family businesses today it might not be that true a lot of younger generation has gone and created legacy businesses, right? You talk about Lenskart, you talk about Ola. Oh, yo. Oh, yo. What is it? Today, you don't see a brand. It's not a brand that's scaled up.

1:02:21Lala is not a wrong word. But people have known it. I said it's Bollywood. Isn't Lala also means that this business is one side of them. It's their pride in their pride. That is more Lala, right? If there is a decentralized approach, I don't think we will have no rights to give us. We will have a decision to take a center authority. That will approve the money. That will approve the business plan. What will happen after that? For me, that is family business today. Right? There is a difference between a Marwadi businessman and a family businessman. Family businessmen can still grow big. If they have invested in the right piece of capital.

1:02:58Right? If you look at some of the biggest family businesses today, they are the top industry houses of the country. Right? Jindal Steel.

1:03:08at the same point of time there are also family businesses where the next generation is not able to do what they are doing freely that depends on individual to individual irrespective of whether he is a marwadi or not if one person thinks that my next generation business is the same as I have thought that company is then restricted then he will approve every 10 lakh transaction of 10 lakhs versus someone who is believing let's scale it let's get someone who's better than me who will do this piece I will trust them but I'll still guide and mentor them but people have unfortunately a stringent traditional family business mindset called Lala company it's a different way to be a business versus family business my family is also into business I'm not doing that my team today has maximum number of employees anyone has ever seen in my family and I don't I mean we have in Bangalore my father made a house, a car, everything but my father only has 5 people working on it that is the traditional business when they know how to work on this scale and this limit their restriction is the same but they teach you the ethics of business through which you can scale they would have scaled it for their level when they started to have a house they would have not made a scale they would have made a house they would have made a house but when you come from that kind then you dream so I am very proud to be a Marwadi businessman but I am not a traditional family business a traditional family business is where even the youngsters struggle I know so many family businesses where youngsters complained of course that's I've earned a lot of money but if you're not willing to give responsibility to others that business will die but why do you think that family businesses don't change your own کر پاتے ہیں a lot of it because people don't trust the next generation or people would have made that wealth by giving through a lot تو ان سے وہ چھوٹتا نہیں ہے اگر میں نے ایک business بنایا ہے جہاں پہ میں نے بہت پیسے کمائے اپنے طریقے سے کمائے ہیں اور آج اگر next generation بول رہا ہے کہ انہیں وہ طریقہ change کرنا ہے میرے کو ڈر رہا ہے کہ وہ پیسے دبا دے گا and i'm not able to risk that but that's wrong that is what i'm totally against یار آپ نے 20 crore کمائے اگر آپ پہ بیٹا 1 crore dubaa bhi dhega aap 1 crore 2 saal mein kamaal hoge but woh 1 crore ki duba thmei ithna dhanda seek jayega that he'll scale is much bigger do you think seek jayega 100 % failure kuch log hotha hai wohi log hotha hai jenhen paapa ne bol ke rakhata hai beita tu yehi kar aur woh 3 saal se wo karta karta their ability to think is gone right they don't want to think further you know I was reading a stat ki PwC ka 2025 ka stat ki sirf 3 % family businesses globally innovate karte hai

1:05:59but there's a restriction where the elders in the family have that responsibility I don't think it is the children's fault if you don't give yourself something to someone and they will say that I'm saying he will never learn and the ultimate truth of life is the elder generation will move on at some point or the other they'll become old some people might pass away do this do that and they'll get body restrictions right health restrictions which will not be able to do but if you have said that you have to do from item A from item C then after 10 years you have to do A to C and that's when you die and that's why most of them are dying of course even today that's why I'm against family businesses I think it's disguised unemployment while few family businesses now this could be a very catchy statement I could get a lot of bash on it but 80-90 % of family businesses in India are disguised unemployment this is the place where haa ghar ke 8 bachay hai 8 ko us business me ڈال دے and dhekho to us hai business me 8 logg chahi ya 3 logg chahi 3 papa logg milke us business ko chala raha thay papa 2 cha cha milke us business ko chala raha thay ab unke 8 bachay 8 bachay bhi kya same business chalayenge unhye expand karne to na jhaan pe 3 ki jaga hai moha pe agar aap 8 ko bitha hoge clashes to hoonge whyn't you bharosan nhi kare paathe pha ghar wale jab 1 crore 2 crore can you see?

1:07:20I think it's a fear. I think it's not a baby. Because I've been very scared of love. I've never seen the world that I've seen the bad things. I've seen it. I mean, if you ask me, when you're born, when you're born, you're not showing the world of hard tools. You're not showing the dreamland. How can you show the world? I don't know if all of you guys have heard the story. He's so amazing that he's a staff you have given a lot of cars and flats. But I heard that the rule is that as a child is 14, 15 or 18 years old, he can send out for a month or three months to live on his own. And he is given at least like thousand rupees a month or something.

1:08:04That child who has been in the house for three months, he has to survive on thousand rupees a month by doing odd jobs. Now that is exploring him to the real world, right? And I read the story. I don't know how much of it is true, but how much me the person knows that this is true maybe in Mumbai or somewhere he worked in the tea and he worked in the tea and he said he was going to give tea in the shop but he also how much he teaches that the customer gives a lot of the house that doesn't have that doesn't have something that's good little tea take a tip and that's that's exposing your children to this the issue is because the last generation saw a lot of family businesses make it big not very big but big for themselves they wanted to keep their children in comfort zone and in that they were I went through so much hardships when I was young my child didn't go to bed but they are not realizing because of that hardship is where they have reached today and if the child is in that cover then he will stay there like my father my father didn't give me comforts to me I mean I was driving by bus I was driving by school I was always 1.5 km I was always able to go to bed if it was a bag heavy I did not have pocket money for the longest period of time I was able to give every money I was able to give every money I was able to give you I remember 10th standard my school was US trip organized and all my friends came to go to my dad and I went to my dad I went to my dad I went to my dad I went to my dad my dad would have to get my dad for this$70 ,000 to get my dad and my dad I didn't know how much I was able to when I cleared my entrance my father told me I said to him I said to him you will see him you will do the job then I realized that we are not so that my dad but it was that day when he refused that I felt

1:09:53I will prove my diet that you didn't get it I will do it that you didn't get it it was a revenge mode that you think I will do it I will do it he could have got a high end car at any point of time because he said you don't have a lot of money this is a lot of people they are a lot of people they are a lot of people they are a lot of money But they don't show off They don't show off They don't show off They can tell They don't know Why do they not like spending No, it's not that they don't like spending But they want to be able to adapt themselves to every condition Today they have money If they don't have money Because those who have money They all have business And business's risk Right So keep your lifestyle If you have anything If you don't have anything Then you have sustain in kar jau jiasse aap nae bola na aap to pahle kuch hi nahi thae aaj agar loge ko bure lag raha to wiesse bhi thik ho jau ge uska logic hiya tha that you didn't care first also you know that you are in a sphere is sphere ke anndar jab tak aap comfortable you never let success reach your head so you didn't care about failures today also while it matters but it never breaks you unka wohi logic ha ki utna arami maddo saamne wale ko ki yaar kalko agar uske life mein muskil ho jai to ye ho jai and most of them do this for their kids

1:11:30they teach them to live within their means and they can make money that their two generations can maintain and maintain and maintain so they can I think that my child never will be depressed. I have made so much money that he will maintain this lifestyle. And if he has gained a lot of money, he will do his own lifestyle. But on his own money. So, you plan two-three generations to go on? Because they haven't seen it. Do you think today's death? What I think is my generation, I don't think it's a good thing. Because in the time of today's generation, what I think is my generation, they want to come out of these clutches.

1:12:09It's again that rebel, because my father said that I won't do it I won't do it I won't do it I won't do it I won't do it what do you mean if you keep the money in bank? I don't know if you think is correct or wrong it's not a justification everyone for their own I myself do it a lot but my father is like this you're getting it you're getting it when you don't have it you have enough money that you can eat two times and you can stay and you can stay and you're working if you want to earn out of that you do it Have preceded you yet. Yeah, I do. Us you've experienced it. That is just been helpful.

1:12:46Let's get I hit something so many if those people are collaboration then dann index fall away how do these people Я Verizon That's too much but stakes around the limit that means and I suddenly realized that my mother never did mean, I never chir konnten after my father my father didn't BurIST happened. I onlyheard these because people said that NOT my father would say that because then it's aкамat

1:13:51pow verbessagram यार उन्हें पैसे की value बता होती है जब आप MBA करते हो आपको सिखा है जाता है आप marketing कैसे करोगे आप ये कैसे करोगे आप human resource हो कैसे manage करोगे सब के पीछे एक fundamental concept होता है पैसा कैसे manage करोगे कि अगर आपको कोई भी धंदा करना है आप उस धंदे को सबसे कम cost में maximum तरीके से कैसे कर सकते हो even if it is not the most efficient way you would have heard a lot of मारवाडी businessmen in the initial days सारे काम खुदी करते है but वो इसलिए खुद करते है क्योंकि आज business वो scale पर ही नहीं और उनके पास extra time है कि वो कर सके और जब वो scale हो जाते then they hire people like you but MBA you teach how to specialize you if you're doing finance you're doing but finance you need to to be what do you need to do what do you need one or your son will train the whole business in every function he trains he trains the tax he trains I have a book in your he wrote what are things that they don't teach in school the last case all people don't talk the majority points were not given tax who did not given health insurance who did not given life insurance these were common points these were the points and all the people have written commonly these three concepts you should learn tax insurance health insurance term insurance commonly Baniyah this thing is learning starting to learn Baniyah says PPF in the same time health insurance in the same time tax is not going tax compute and maybe he will not know all the income tax rules but he tells you that partnership firm will be 30 % profit, company will be 25 % and you will balance yourself like this.

1:15:32You can make a H.O.F account. H.O.F account will be a exemption. This thing is no tax abug. He will teach you 10th. He will show you how many files are. yes Uhr AG are this is why where you ah but whatack the mindset especially for when you are what can you tell me simple and if you if you buy anything that you go to market you ok market India market starting not the way for any before you have to region by go District guideline District district then please control go and sometimes you can For example, my father was a family business. We were a village gourd that had been in the village. The first expansion of my father had been Salem.

1:16:23My father had a big father that we were talking about Babuji. In 1997, the Salem shifted. When Salem shifted, my father told me that the village gourd was a little bit that the Salem office could sustain 3 years without changing the lifestyle. He said that now is the time to expand. then in 2000 when I opened Bangalore because I said if I didn't have a loss of Gullage Good or Salem if I didn't have a loss of Gullage Good if I didn't have a loss of Gullage Good then my lifestyle will not change isn't this exactly what growth is growing from one place to another but isn't it slow growth then but that is the time when capital is not available this is also a no risk growth today what do you have a father my father is successful not a lot I mean I started my family I didn't have education I didn't have a lot I didn't have a lot I didn't have 4-4 kids I didn't have a lot of kids I didn't have a lot of kids CA made, this made, that made.

1:17:12Today, in marriage, you can see how successful you have. In any company, seed round of money, they do it in a marriage. And they always invest. They diversify. They invest. They diversify. They invest. Whatever the gold you buy, I don't think that any other community will buy. I say, Bania Gujarati, Marwadi, Jain, all people combine them as a business community. Do you know what I feel? If you come to a business family, if you come to a business family, family because my family is like that so Bania family Marwadi or Jain those are all business community of India, business families of community of India, I think these people teach such things which any MBA, any CA, any school any Harvard doesn't teach anything at least at the time of when you are learning it and that is these people teach you to manage invisible balance sheet and invisible balance sheet means trust, reputation respect, name, relationship this day one is in for power calling books number of people name pop music your career coming for this first time you in the picture you think the name is wrong just

1:18:28you use the current way feels right your school respect relationship name trust just and it by default default when that's how you grow very fast that's how you grow very fast right you think success you think what are you thinking about the market you don't think that I can disrupt the market but if you're the most respected player you know the rest of the opportunities you have to have yes right yes so you can attract you very much if you that you have to make a mistake with this hand shake no need to do your paper work will go then then because of that, you get a business that you get a lot of compound.

1:19:14Over 5, 10, 15 years it's very late realize that we did it. We did it. Because maximum places you teach this that you see net profit, gross profit, cost, sales price, cost price, it's very necessary. That is the basic. This is the basic. Plus, the invisible part is the invisible part. But I think it's been I think this is a point where family offices don't trust their children's children because they think that the respect they have their children may maintain because more often than not when someone joins family business he wants to do invention in that business right? if someone else does something like that then they say that their home is still okay if my home is a textile business or if I want to do something in tiles then they give my home money because in their line they are not bad but if I have something like that that reputation has lost people are very scared I think this is a reason that children don't give much responsibility under the same line of business do you feel that the family businesses work with the past romanticize yes they think that the margin was in this year we have gained but the fact is they are actually remembering the days when they worked very hard and they are feeling good about that period unfortunately they don't they want their children to work that hard but without the hardship which is not possible yeah hard work and hardships go hand in hand if someone will do work then they will get to get to it now they want to get to it but they will not get to it so what will they learn they will play tell me top 3 rules that you have learned about money first is your money should always make you more money if your money is not making you more money then it's not right right if you have money in the bank and you don't put it at times keeping money in the bank is also saving money but your money should make you money right money second second thing you have to command the market but profitably you have to do your cost so much that you give the market the best rate economics of scale right

1:21:47At that point of time he is able to give the best rate in the market So the second thing is economies of scale You can see that the third thing is possible to learn the management of money You can learn the money at the end of the day is something which is intangible as a number don't give it so much importance where it becomes everything like you said, you have said, people are in relationship trust, name, business, market size market potential, growth those factors will be more important the issue between a person who is doing a job is that he is checking every month how much money is in my account how much money is in my bonus how much incentive is in my business he never checks that how much money is in his company because the employees think my company my company how much can I get that but unfortunately 95 % of the workforce is not that today and they're not to be blamed but but but people don't come from finance background they can learn how to learn this today's time learning is very easy I tell you if you listen to 10 podcasts then you'll know what to do with basics but people don't want to do it people are scared people think that if I have this I think that I've thought of what I've thought because I don't know I can achieve it can't do it.

1:23:02Today people how many EMIs are sitting here? Today, I don't understand that concept that one person has 10-10 credit cards without having the means to pay for that credit card. People buy an iPhone on the EMI. I mean, iPhone, such things where you buy but you will not buy an iPhone at the age of 24 if your salary is 30 ,000 a month. Right? There are fundamentals to know. And this is knowledge available. I mean, this is not rocket science that if I have 30 ,000 rupees I have to earn I can't afford to sell 1 lakh I can't afford to sell 1 lakh 15 ,000-20 ,000 Maybe one Diwali bonus I can't afford to sell 1 lakh If you sell 1 lakh gold Or invest in any investment I am not advocating any one line of investment But people need to know that Issue is People have to know that Life style When I was in college I had thought that first year

1:24:02but when you work you get a lot of money but there is an ideal lifestyle in your head and that lifestyle you can't get away with if you are a business community if you are a single person, you know that you don't know that you don't have a way to see your lifestyle keep your life style that you don't have a way to maintain your life style but now you don't have a way to maintain your life style चीज पता है, college से romanticize कर रहा है कि मेरे को iPhone चाहिए, फिर गाड़ी चाहिए, फिर यह चाहिए, फिर वो चाहिए शायद उनके heroes यह करते थे, बट उनने यह नहीं दिखता है उनके heroes महनत कितना करते थे, आज सब को MS-Doni का car collection, उनका जो garage है two wheelers he thought what is this but that person has ticket he was a TT at a railway station that day nothing had to do he went to his friend's car he didn't have cricket kit someone had to sponsor him that and literally take him to his matches and after doing what he's done for 18 years is when today he's able to have all of that and today I'm sure all of that would not matter that much to him but was he not able to do his match after his match See this is logical And this is why do you think Take a minute and think about Why do you think People whose salary is very low They also have a lifestyle Which is 50 ,000 ,000 ,000 ,000 You have put in social media You have put in social media You have put in social media You have shown in social media You have shown in social media That's what happens First of all this This is a thing Because it's only in movies And you know That movies are galvanic Because you would always Consider them to be heroes Sharao Khan's life style Sharao Khan's life He will be in the movie He will be in the movie He will be in the movie I will see Sharao Khan's life I will see the photo But if my friends My friends He had 2 years He had got a job He had got a job He had got a iPhone And he had that story Instagram So I was Subconscious I was We were Same bench We were This What happened?

1:26:01My marks Was I was I was When you are Trying to cop so you are only becoming better than the people you know a league just like you said you have a podcasters in a league now you want to become a world of top just like you have a world of top if you have a 100th best podcaster you have to see an inspiration what you have done is everything you have done you have to copy me and you will respect you today if Mukesh Ambani Sir Anantabani said 5 crore India has no attention people say that he will do it he will do it is how good he did but if that婚 and the other person then how do they do it how do they do it now that pressure is my way why pressure is it in their head just who compare not to be a time you will be comparing but people are constantly comparing their lives and this comparison is not a new thing compare करते थे बट तब lifestyle इतनी forward नहीं थी मेरे पापा मेरे को बताते थे initially Reliance का CDA में phone आता था जिसके लिए 4 मेने की waiting होती थी आज आप sim card 2 गंटे में खरीच सकते हैं और जब सहुलियत इतनी बढ़ चुकी है और पहले flashiness इतनी होती ही नहीं थी

1:27:30Mumbai in Mumbai you don't know what's the reason I think it makes sense and this is what we all think and why we all compare and sometimes I think

1:27:50that is one again which I also think is to do a lot more with how we are influenced with the western system today this thought was not in India if you go in India 100 years ago or 80 years ago just after independence people used to listen to their parents people used to listen to their elders if someone was coming to the village all the people of the village were in humility

1:28:22but as in when westernization started coming into India and this was very common in the west 2000s time in US every person had a cryo card every person had a life of their life every person had a high feeling at this time 40 years before drinking was supposed to be a curse if someone is a curse people say that they are a bad person

1:28:44I don't drink either.

1:28:51So now when you're influencing yourself with wrong habits, wrong divisions, your ability to think properly diminishes. And it's a fact. I don't know if this is the right way of putting it, but as in when you keep incorporating habits that are not good for your body, including junk food, including alcohol, including cigarettes or including whatever it plays around with your head it creates a fog in your head when that fog comes you just think my instinct is right and instinct is impulsive instinct instincts are right but impulsive instincts are not if you ask if you ask to give a big person how to save money if someone comes when any consulting firm comes you say keep impulsive costs impulsive costs are important that you need in this moment but you after 6 hours you realize I didn't need it right I don't want to go I am okay that's the impulse because I am having a fog in my head where if I need it and after I get it I regret it also what are you doing what are you doing it was not because in Mercedes he is going to the office he is doing 9 to 8 he is doing he is doing and the house is dying in that pressure but it is against people who have already built it I also think it is with diminishing people's mental abilities right to think very clearly this is why meditation courses sell so much I think it's because like our culture is being built before because we had a big family so we had a lot of shared resources so we had more money so that's why people have so much at home so much comparison that they would leave and let's go let's go let's go it's okay and कमाने वाले ज़ादा होते थे कर्चा करने वाले कम क्योंकि अगर बड़े -बड़े major खर्चे क्या होते हैं घर, गाड़ी वो सब common में चल रहा है चार भाई हैं एक ही घर में रहते हैं घर का कर्चा एक ही हो गया then गाड़ी again and family in the house so those all were saved now all are different now in the families which has also started happening that we have to stay with our parents we have to stay with our parents so very late marriages so individually we have to create our own capital assets so it's also very difficult to make more money we need more money to survive and live a good life today than we used to somewhere I read that even 40 lakhs an annum is not enough to live a decent lifestyle in a place like Bangalore and now 40 lakhs is a big amount of money right but people say that the person who is earning 40 lakhs is still living in middle class life he is still living in any extra-given life because that means that extra-givens is what he is watching on social media right what he is watching on a big man I think he is watching and second just creating a fog in your brain by doing the wrong things the wrong influence of westernization if I could call it but now that's changing by the way there's a new data which has come up Gen Z are preferring not to drink alcohol so they're quitting alcohol so millennials drink more alcohol than Gen Z which is a great sign there's one thing too today you influencers are those who are studying Indrezji Maharaj and so many people who are becoming influencers because and today talked about the Bhagavad before Indriji Maharaj's father he was talking about the Bhagavad and he was so much but today people are idolizing such people so when you idolize the people with whom you want to learn right and I am not talking from a religion per se don't get me wrong but if those people are saying that you don't do this then Gen Z are saying that you see that there are winners who don't drink like in your country there are many examples the richest family in the country they don't they don't do all of this right second richest they don't do it it seems like a lifestyle is broken by the people who have not been able to make it big you will become big like when I started when I started then I told myself if you don't drink you cannot gel with people you will not get into the US I said today very proudly if I don't get into the US I said a few clients and you said that you didn't have your head decoration this is how it came have you had your bath because you said only after bath you do this they accept you and these cultures are going there why do you think Tilak this is a family starting starting I think giving this proves that I don't do what I do I don't do it's for a bigger cause I can't do things wrong if I do that is my identity that you have made identity now if you see the front if you see the tail that you are eating non-wage then the non-wage will be you will be afraid that how an artist is eating non-wage so automatically you will stop yourself from doing things that you think are not right so this is your anchor to do the right things just constant reminder that I don't do wrong and this is something much bigger I am connected to something which is much bigger I am working as part of him and whatever I am doing is as a service so what I do is not my my master my master is like spiritual power and I do what I do I do so I do not do much wrong and when you do this and you do something wrong people stop you are a kind of thing so automatically you feel no, this is correct I do not do much do you think that they are very money minded no why do they do this because they do because they do they think they do because they are obsessed obsessed with your business.

1:34:46And if you have someone who is going to come to Zomato, you will also talk about this. How are you doing business? What are you doing? That's normal. It's a bad name. Because he made movies. He showed a girl who gives money. And he recovers. He has a big fat. So I think that this is a conception. But it's not bad to be obsessed about your work. it is the sign of success if you are not obsessed with your work you cannot be successful controversial statement I don't understand the work life balance if you are doing that you like no concept in your life you don't have a concept you have to give your family you have to give quality time if you are spending 2 hours with them be with them for those 2 hours right you don't have to give them 8 hours but what time you give them you have to give quality time do.

1:35:42What you do is quality time do. Today people are so distracted that they say that they need work-life balance. And neither their work is good nor their life is good. People say work-life balance it's a fact. You check it. I am just like you. Work-life balance is good for people if you believe in it. If you don't believe in it it's not. So up to you. So to each their own. But if you truly have to do something big and you think you have to win gold medal jitna Olympics my to naii ho se jo Olympic athlete is ka koi work club bernet nai ho ta usse manat karna hi padega usse option nai hai sirf manat if that's the goal have you ever taken any decision ki wo community ethnicity ke liye relevant hai ko asa decisions liye example I have seen and I've also read researches ki about 54 to 60 % log joh haute hai wo jis communities hai jis religions jis jis jis jis life ke principles binaathe and businesses kerthe i have few friends joh muslims ho biaj pere nhi dhe ho kerthe hi nhi unko woh profit sharing kering mnlap mein unko jantau 1000-1000 crore 2000 crore businesses bhoot bade per woh biaj pese nhi dhe unko haram pikaar pese ahi unko business mein haram islam mein woh haram and same meire joh gujarati friends ya joh meire beniyah friends unko biaj nhi ho to mtlap unka to bhali woh 1000 crore कहीं और से कमा रहे है और 50 crore कहीं बैद नहीं छोट सकते हैं बोलो यार यह होता है यह बैसिकली society का impact होता है यह society का impact होता है यह impact religion का नहीं होता आप जिस society में हो आप उस society के mindset को अपने अंदर ढालते हो अगर आप ऐसी society

1:37:38yes yeah a lot of things if I think that in a business that's such a where I have to lie to someone to a big extent in business everyone says but the amount of the amount of the amount of the amount of the amount of the amount of the amount of the amount of those are things that I do people say you have to drink for business it's very common I have so many cousins that I know I drink if we go out but I think that that is not religion I don't do it I don't do it I don't do it I donate to my

1:38:17I don't do it because that is understood by me and at the same point of time I have my co-founder education is a very big thing we have opened a foundation where we put a particular percentage and don't take a tax benefit no registered no trust just a trust

1:38:59which is also equally important gosh Allah को दो, इसमें करो वो करो तो हम लोग आज भी अपने business के वह से डालते हैं और ये village good से आ रहा है, village good के अंदर हमारे पास मंदिर है, और वो क्योंकि समाज का मंदिर था, वो एक rule तागाऊं का कि हर बंदा अपने sale का point double zero one percent हर साल उस मंदिर में some people and for me it is my temples for my co-founder it is education but I think if we are not doing this then business does not have any benefit you have to give back to society in one form or the other many people on the ethnicity on the basis of culture on the basis of religion on the basis of society on the basis of rules which are really really incredible but then you are going to that society today where you are going to happen that is what your friends people are, they are, any kind of people, I can eat in a long time, I can eat, I can eat if I'm not sick.

1:40:06But this is from where it came, this is a tradition that has flown, every society is not able to do it. But God has all the societies built, so that they can exist each other. If someone wants to buy food, if someone wants to buy food, if someone wants to buy food, if someone wants to pay for education, I think God has made every place a balance. System innovative. Yeah, that's your job, so I think whatever little we do is only it's actually God's wish I mean at the end of the day it's all a supreme's wish and you're just a to fulfill it do you also feel cultural framing is very important in your society or in your community the term of business becomes those values I was reading about it and I found it interesting I don't know how true and right like the Gujarati community that is the Dhandu the Marwari community that is the Vyapar the Punjabi community that is the Jugaad Jugaadu, Punjab Jugaadu, Jugaadu the three if you look at it it's different and that you can see long term business there are many business values 100 % because you have learned from your childhood that is the thing like it's just but the three you have a business and the three are the profit for the Dhandu exactly like like the dhando DNA is wealth creation that just wealth preserve and create enterprise value and build is mostly about righteousness that in the right way I will trust and right I will do first of all I will do a little bit but I will do this way I will do than anything enterprise value I will do and then the job is more that where you take a job you take a job you take a job you take a job you take a job that happens when you see your child and you see that thing like you said you're very inspired you eat every Tuesday because it's become a house if you don't have any relevance or not, the biggest relevance is your parents are coming like my dad doesn't eat non-wish that's the only thing I don't eat non-wish but when you see some things in childhood and parents are your first gurus, first god subconsciously every child wants to become like their dad when they are young right they think that my papa is a hero you remember when my papa was on the toilet on the toilet he would leave a hand for something to do so I was at the time I was at the toilet I was thinking that I was responsible I was having a car and the feeling was very good so my papa and my father my heroes are I learned how to manage the house how to manage the joint family how to live so they did what I did my DNA was like

1:43:02true

1:43:21right so this and this is in community you go to a Muslim to a child who saw thing that is the exposure to everything else is just so low and they don't want to compare and become right so here's my last question to you tell me your worst financial mistake which doesn't repeat anyone and you learnt it the hard way within 10 days I trusted on someone and I transferred some money to them assuming that it was a shortcut way of getting more money which the back of my mind knew was not possible but in the greed of that time just to build something bigger I took that shortcut and it hurt it now that money didn't come back what was it explain tell me situation what happened what happened when we started the company initially

1:44:27we needed capital we needed capital debt equity we wanted to raise debt so at that point of time there are a lot of these scammers who come and say we know the bank and we do this we will get capital and some bankers also get the money and then they deposit in account

1:44:49and they charge you a service fee for it and that transaction materialized not but 3 crore you should get to get you should get no, it was 30 crore because it was and they had paper and they had they had and they had officially refundable terms and conditions were not refundable and it was very early for me 3 crore meant a lot today also it means a lot meant a lot what happens in today's time 3 crore is a big deal but we lost it but case and then yeah in that because we didn't have contracts we didn't have contracts we realized that we have made a mistake we thought that how did we get this mistake next day we thought how did we get 30 crore so that we don't have to pinch so I think that is where again my instincts will that when one thing is so big, there are two options.

1:45:46Or you sit down and roll the next three months. Or you have to put a 10-day in the next 10 days or put a job like this, put a job like this, put a overtime like this, put a opportunity like this, that you don't do that. You don't do that. You will do that every day. But you don't have to do that. You don't have to do that. But legally, someone has to scam. Yes, many people do. Like legally, you couldn't do anything. I'll tell you, there are funds in US that give you a term sheet and ask you to deposit funds and the term sheet never materializes. My friend has got scammed this way. They call you to US.

1:46:15I have learned all of this. You have to cyber crime so famous when we were not. Today's time, the scam will probably less. But digital arrest, today's time is happening. The police are trying to teach everyone. But this thing is happening. There are many people who are sitting in legal. We had a consultant in Dubai. We had a consultant who said, we had a business set of Dubai. which people know Dubai, first bank account is very difficult. So, people have to open money for opening bank account. It was a very new concept for us. We paid that guy and nothing happened. And at the end, he said, this is the contract.

1:46:56Contract is 12 months. We tried to terminate contract in three months. He said, I tried to give service. You don't want to take 12 months. Others will go to cops and ensure that you cannot fly out of Dubai. Then we have to negotiate and give him whatever funds we have to give him. People do this. but you learn to become a big business every such opportunity that you get stuck with you have to realize that there's something bigger interesting so day one question and solution is ask yourself a question is this a shortcut or not if it's also right read contact take opinions pay 10 ,000 take opinion from people and don't be stupid as I was so yeah legal contract so how many people have been how many things are it's just incredible everyday I sit with many businessmen they just tell me that legally they have trust trust and they have signed and they have missed and they have gone now you can't do it you can't do it you can't do it you can't do it refundable non-refundable भी comment था, जो, यार चीज़ यासि हो जाती है बत फिर उससे आप सीखते हो उससे बैटर होते हो क्योंकि आज, अच्छा, उसमें भी मैंने ब्लेसिंग यहीtar सोची कि हो सकते हैं, मैरा 30 करोड जाना था 3 crore 36 not but this is with every fallback you need to come back harder you have to think that why it is more than a day think that how recover how to recover that angle not how to come to to to come to our money.

1:48:45There's no option. If you go, go ahead and go ahead. So, go ahead and go ahead. Done. Thank you so much, sir. Thank you. It was a pleasure talking to you. What did you start? What was your age? So, I became a CA at the age of 21. KPMG was going on an article. I learned how big corporates work. I learned how big businesses are built. I learned what CFOs think into. How do they do things? How do they do it? And I learned hard work there. I think we have 16-17 hours and we think that life is this I mean, every one who does 16-17 hours work is this Thank you so much for watching this episode Now you have to do three things First of all, subscribe to this channel because as much as you subscribe we will be more valuable and valuable guests for you.

1:49:31Number two, tell me in comments, what you like and what bad you like to repeat the mistakes and which guests you want to see in our podcast so that we can take them and give you more value. And number three, you must have to share this episode with someone else, because one conversation can change someone's life. I'll see you next time. Until then, keep figuring out.