While in Ahmedabad the following are some of the business tips (or policies, if you will) that I found worthy of imbibing from the Gujjus. I am not sure if they themselves follow these principles or are even aware of it. :-)
1. Never ever let a single paisa go waste in business.
2. Trust is the single biggest reason why one would continue to do business with you. So build the trust and live up to it at every cost.
3. Customer is THE king. Treat him like one (I would have said 'her' but then it would have had to be 'Queen').
4. Be humble, patient, polite and calm. ALWAYS. Without fail.
5. When it comes to business, no amount of hard work is beneath one's dignity. Be ready to walk, dirty your shoes and hands if need be if that adds to your business.
6. Keep business and emotions separate. In your personal capacity, you may spend thousands to help your friend, but in business you make sure that he pays for your product/service.
This is not exhaustive but this is what I can think of from the top of my head.
Surprisingly, these things are NEVER spoken about in management education, or at least the one I underwent. Maybe, that's why Gujjus make excellent "entrepreneurs" while we make good "managers".
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