55 – Quality of Income – Ethics

Two weeks back I met with an entrepreneur who will go unnamed.

Currently about 70 years of age, he joined his father in the family business of supply provisions to hotels and catering industry. At that young age he used to carry bags in public transport and effect delivery to the customers all over Mumbai. His father used to manage the small shop and handle walk in customers.

Today the business has grown multifold. It includes his two sons and his two sons-in-law. They have 2 large godowns and 8 trucks. The branch in Pune is handled by his close friends son. Their team strength is around 50.

He gives liberally to the local Jain Derasar ( temple ) and also supports a school in his native village. Talk about CSR.

He attributes his success and growth to two principles

– If the prices on commodities increase, he does not sell the existing stock at the new increased price. The old stock is still sold at the old price. No profiteering.

– If there is a shortage of goods, he give it out at the same price to his loyal customers but with some quota in allocation to each so that no one suffers, till the shortage period is passed.

I thought this was just so lovely to share

About The Author

Venkat is a serial entrepreneur who has exited two start ups to US and UK based buyers and is now on his third start up. He did not set out to be a serial entrepreneur but circumstances in life just went that way. The last Start up of which he was the Promoter Director was the countries largest domestic BPO with 10 offices across the country, employing over 3000 team members with the country’s largest corporates at its clients.

1 Comment

  1. Radha says:

    what a wonderful noble idea he has been following. it is hard to do that. As a businessman one tend to make profit wherever possible but living with such great principles is not a normal feat. I salute him and also wish to follow his ideas in my life.