Coming from a Marwari business background, what things should you take care of in the startup/business?
A Marwari business family has the skills to take their business to the next level. Being a CA and the founder of the ‘Farmse’, There were many things that We have learnt from our family business that helped us grow the start-up.
- Focusing on returns: When you are a CA, you might have the goal to practice and earn, but when you open your startup, you have to work hard and smart to earn and get the returns. We are not denying the fact that there is always an opportunity cost of practicing CA and having a job with a decent salary, But the adventure, the aim to grow your own business from scratch, teaches you a lot of things that no profession could ever do.
- Sacrificing lavish lifestyle: No matter which background you belong to, if you want to start your business, you must stand on your feet, even if it’s sacrificing some of your lavish lifestyles and investing the saved amount into your business.
- Discuss Business and share resources: You should always discuss business with your parents as we have heard experience helps in learning something new or about the realities of the business. You can also share the human resource by paying some amount to the employee and using them accordingly.
- Raise funds: You can’t always rely on your parent’s money. You have to cut your expenses, and increase your savings. You can always put your idea in the market and raise funds if the idea’s worth it.
These are some of the things that We have experienced and that have helped me a lot in my startup, hope you may grasp them to get your business successful.
Regards,
Yash, Raj, and Vaishali
(Founders of Farmse)