Rakesh reply

Rakesh was unable to post on blog, so posting his reply received via whatapp




[9/11, 10:57] Rakesh Arora: I am posting my view on whatup because my blog is not working now.
First of all I will start with one thing that should be leading to all other things and it is DREAM.
First of all Dream should be clearly defined.
As per me whenever I think about my
Dream,I visualize "to create  something and that something is some business or some venture that should be my own,where I can work in a way that I love and work is no more work for me whether I am working 24 hours continuously or 12 he's,I should not matter.
This thing can be possible in job also when you are working on a project that is like to create something by you.
For this thing to happen,you should know one thing i.e Passion,Interest,Personality type.
This is easier said than done.
But for last one year,I have been try to explore these things and what I have found out about me is that-
I love to generate new ideas related to any work,new concept,product,business in a manner that how can help these.
My personality is extrovert but one thing I have analyzed over last 3 years is that when I need to fix new meeting,need to meet new persons I feel nervous , but when I meet that person then I deal very well and becomes friendly with them , so by this analysis I can clearly say that this nervousness is natural and this can be reduced only with better preparation and better experience.

I like to discuss new ideas with persons of good intelligence or aptitude.but this thing can be applicable to many people.so if this thing we can consider to find out about interest then it can be good way and you can suggest what type of work will be a fit for such interest in a person.

One thing that I learned over last 3-4 years during job and business , we should be having strong processes in place and then only we can have scalable business,freedom to pursue your hobbies , spend time with family and friends of your choice.
But processes are not given much weightage and our main focus is just to look at short term success.

As a business person, we don't follow processes and rules for ourselves and sometimes we think that we are enjoying freedom but in reality we lack discipline at that time.
We don't set deadlines in our business in name of freedom and we justify it by saying that we don't take pressure.
But in job processes are set, target s are set , daily agendas are set and then all team is looking to achieve that target.It is human nature that they don't want to work till deadlines are not near and due to this nature they feel pressure in job and then they think that they are not enjoying job.
But if a person can't perform a job well due to these reasons then I doubt if he will be able to do well in business as well.
Now one question is whether a person before doing business should work or not?
As per my view, if you can do job in same field or same profile  as your business demands then you can try it for 1-2 years based on your learning speed.



[9/11, 11:26] Rakesh Arora: My views to the various points made by you-
1. I can make use of my brain and my knowledge (satisfaction, do I need to say more)
This thing is possible only when you are working in area that you love.so start asking yourself are you loving what you are doing currently. If yes then only you can use your brain and heart,knowledge in that task.
2. I make good profit margin (this way, I take good care of my family)
Profits can be earned by job,business etc. even when you are not completely enjoying it but money/margin is by product of work that you are doing.
More love for your work means more margins.
3. NO pressure of achieving any target (I am extremely competitive and I strive for betterment all the time, so I don't need extra pressure)
This is one area that I think business person misinterpret, they don't set target and deadline for themselves and then they don't achieve as per expectation. So target and pressure shod be there but for positive results.
4. I can make my own time table (most of times)
This is possible only when you have either the best in your field and people can wait for you.or you have earned so much in life that more money doesn't matter for you but in my view time table and discipline should be there but freedom should be there to modify  as per requirements.
5. Doesn't require my personal presence ( so that I can travel where ever I want to)
This leads to Setting up Processes in your work so that system can run on its own.
6. Gives me lots of free time (this is most important as I need time to fullfill my hobbies )
We have limited life and age in which we can enjoy our hobbies because as we grow we can't pursue all our hobbies in older age.so do work you love and if you are loving what you do then it will automatically lead you to follow your interests and hobbies.and to find what you love is most difficult question to answer.
7. Doesn't require daily commuting of more than 20 -  30 minutes ( I hate wasting time)
To grow your business,you can't escape travel in initial few years but yes it can be minimized with time and with help of technology. But you can't say it is wastage of time because when you are traveling you are also learning subconsciously.
8. Doesn't require me to face new people all the time ( I am introvert)
It is good that one should know himself but sometimes we are also not completely sure of ourselves and other person like your friend can tell you better about you.In your case,you said that you are introvert but in my case you are not that much introvert and you should also come out of this beliefe.I think you should come out of your comfort zone and wipe out this introvert phobia.I believe for any business you have to meet new people and till time you are not having a competent person for this public dealing thing then you have to deal with it.I am not denying that one should be focusing in strengths but also to improve on weaknesses also

What is a successful business

A successful business can be defined in numerous ways, some of them are listed below - 

1. something which generates huge turnover 
2. Something which gives you high recognition or prestige in your social life 
3. Something which has very high profit margin 
4. Something which delivers exceptional return on equity 
5. Something which is scalable 
6. Something that requires very less amount of involvement, either in terms of time or personal presence 
7. Something that's needs one time setup, does not needs intervention on regular basis 
8. Blah
9. Blah blah 
10. Blah blah blah

My definition of a successful business is little more personal.

For me a business where -

1. I can make use of my brain and my knowledge (satisfaction, do I need to say more) 
2. I make good profit margin (this way, I take good care of my family) 
3. NO pressure of achieving any target (I am extremely competitive and I strive for betterment all the time, so I don't need extra pressure) 
4. I can make my own time table (most of times) 
5. Doesn't require my personal presence ( so that I can travel where ever I want to) 
6. Gives me lots of free time (this is most important as I need time to fullfill my hobbies ) 
7. Doesn't require daily commuting of more than 20 -  30 minutes ( I hate wasting time) 
8. Doesn't require me to face new people all the time ( I am introvert)

Now with time and sometimes out of special situations, I may need to compromise on few of above points but in general out of 365 days, 250+ days should be run as per above parameters (that's like
70% of times).

Now why I have made my list?

See, first list is defined by society / family / peer pressure / expectations from others.

I believe everyone is unique and one should make his own list.

The first list is living someone's else life and one will always struggle to fulfill someone's else shoes (either emotionally or physically or maybe both).

In my teens, I always thought that success Means doing business of very big scale and making a lot of money. I never thought of what should be done after making a lot of money.

After reading tons of books (Autobiography and many More) and speaking to a lot of elder people, I have realized that making money should be a by product of what you are doing. Previously, I have mixed it with goal.

Our goal should be living a fulfilling life, where

1. We get time to pursue our interest and hobbies 
2. We get chance to follow our dream 
3. We get to choose with whom I should be spending most of my time (ability to choose colleague or coworkers) 
4. Free time to travel and explore the world 5. Spending time with loved ones (family and friends)

Now, the question arise, whether what I am doing right now (family business) is able to give me what I desire? 
That would be a great discussion for another post.

IMO, like this, everyone should have a personal definition of business he wants to do.

This way when they start something and face problems, they won't feel pressure or they will be more Control of their actions as well as reactions.

I 

How to start a million dollar company

Or how to sell your company for Rs 100 Cr (company started 5 years back).

This one will be based on discussion with Mayank where he has asked me to reconsider what I am doing right now and opt for something more innovative or something which will be doing very high turnover / highly successful / which can be sold for Rs 100 Cr or more

Points to be considered -

1. What does it actually meant to be innovative 
2. What can be defined as high turnover 
3. What one will be doing after achieving his goal (doing something innovative or starting high turnover business)

I will be discussing each of above points in individual notes.