Program on ‘Grow your Business with Successful Partnership’ held in VIA
The Entrepreneur Forum of Vidarbha Industries Association recently held a program titled ‘Grow your Business with Successful Partnership’ to highlight how successful partnership can elevate any business to great heights and how to nurture such partnership.
It is generally observed that if there is only one business owner, the entire risk and onus of the business lies on one person, which that person may not be able to handle. But if two or more compatible people come together, more often than not the business is seen to flourish. In Nagpur there are several successful partnership business like ‘Spacewood‘ ‘Plasto‘ etc. who are doing phenomenally well and are top ranked pan India. The program intends to highlight the secret of the success of partnership business and spell out the recipe of successful ingredient in it. It would be helpful for Entrepreneurs who are apprehensive to take in partners and get stuck with limited growth.
Participating in the panel discussion cum talk show would be the team of Kirit Joshi-Vivek Deshpande of the highly successful furniture manufacturers unit ‘Spacewood’, Vishal Agrawal – Vaibhav Agrawal & Nilesh Agrawal of the ‘Plasto’ containers and Praveen Tuli-Jyoti Kapoor the highly successful women Start-up Entrepreneurs of ‘Infinite Space’.
Jyoti Kapoor highlighted how her 14 years of friendship with Parveen Tuli led to the birth of their offline Gaming and Empowerment company ‘Infinite Spaces’. She said that her understanding of partnership started only after setting up the business with Parveen. According to her a successful partnership is all about melted egos, respecting each other differences and in their case helped them to find out the weakness in others. She said that it was very essential that day to day difference were sorted out on a regular basis and give each other space. She advised that one should never listen to the outside forces which try to weaken the partnership.
Parveen Tuli pointed out that two women in a partnership is bound to succeed because women are used to multitasking and in the Indian context are adept in managing joint families. She said that her partnership company has succeeded because of the faith and trust they have on each other and that their diverse attitude had made them compliments each other.
Kirit Joshi from Spacewood succinctly pointed out that a successful partnership is all about chemistry and very little about Maths, and if nurtured correctly, it could multiply to unbelievable scales of returns. He is his partner aimed at reaching a goal, focused and unwavering which is the secret of their success. According to him, in successful partnership, trust has a major role to play. He said that he and his partner had common value system, imbibed in them by their families, which further tightened the bond they shared since college days. He attributed the success of his company to a common dream, a common passion and the sole aim of both partners to promote the brand ‘Spacewood’. Joshi said that he loved to work hard and it never mattered to whether his partner contributed less or more. He believes in that multiple partners help in business growth.
Vivek Deshpande of ‘Spacewood’ spoke about the importance of complete involvement of both partners in the business and working only towards the betterment of the company. He said that since they both are diametrically opposite in nature it augured well for their company because their respective strengths and weaknesses would balance themselves out.
Nilesh Agrawal of ‘Plasto’ said that all the three were partners in the company and also partners by birth as they were brothers. According to him, all of them shared an excellent bonding and they enjoy doing their business together. He said that the beauty of their partnership is that they that implemented the ‘rule of two’ which means if two brothers agreed on a decision the third has to agree by default.
Vishal Agrawal / Vaibhav Agrawal stressed that trust is the biggest need of a partnership firm. According to them the brothers have always worked in harmony and any difference would always be trashed out on daily basis and would not be allowed to linger. They state that in their company the responsibilities were clearly demarcated and each one had a space to grow. All the three of the equally share successful outcome of a decision and so would they share the losses too.
At the outset of the program, Akash Agrawal Chairman of VIA Entrepreneurship Forum said that in today’s difficult times, it is the partnership companies that are able to thrive and move ahead. According to him the SME sector needs to nurture the culture of partnership business.
O P Bagdia, Vice President of VIA in his welcome remarks explained the difficulties encountered in partnership business based on his first hand experience and said that the only way that partnership can move ahead was by patience and understanding and by not letting problems to linger on. He said that the most important element of partnership was keeping the channels of communication always open.
The program was moderated by Akash Agrawal and Anita Rao Convener of the Forum proposed the vote of thanks.