It Happened in India
Dec 17th, 2009 | By Samir | Category: Must Read
Personal account of a versatile entrepreneur. on film, dance festivals, retailing in the changing context of Indian consumerism. lots of useful information on the Indian way of business and contemporary Indian culture.
This is one of my favorite book as I am very keen on understanding Retail Business. The author writes his journey from Patloon to Panatloons & how he started and expanded his retail business. The Story of Pantaloons, Big Bazaar, Central and the Great Indian Consumer.
There are some nice pointers in the book, about business, about making decisions, about making mistakes and above all about holding on to your principles.Some of them are:-
- once you are in business, take no shit and give no shit.
- Allow your employees to make mistake. The only way to learn a business is by making mistakes, by destroying capital that you built after countless number of sleepless nights. The pinch will make you do it allover again with greater agility and determination.
- Once you have made a mistake, accept it and get out of it fast. Don’t put bad money after good money.
- The deciding factor between winning and losing is “understanding of the customer”.
- Treat people who work with you with respect
- Get out of your bloody shell of hubris and start learning things. then unlearn them to relearn new things. Thats actually how you stay on top.
Must read for every Entrepreneurs venturing into retail business.
