We all know how popular Gujarat is for business. In other states, people think of jobs or employment, but in Gujarat, children think about business and investment. Today in India, if you see the top 10 billionaires, you have at least 5 Gujaratis on that list. 5% Gujarati population holds almost 50% wealth in India. In the USA, they hold 50% of the motel industry with 1% population and are successfully continuing the business.
Historically, Gujarat is near the coastal area, which makes it strategically a hub for trade. Eventually, most people were less literate back then, so most people lacked jobs. People adapted to business without depending on others for income, working hard along with their own families. This cultural business transformation has made everyone to think about business and being independent.
A few important lessons from the Gujarati Community.
* They buy existing businesses, exactly they same way they entered motel industry in USA. This strategy which reduces the investment amount and time, it can be introduced into a great business later.
* Invest in a simple business which can be easily calculated and which fulfills the market gaps. With low risks and high uncertainty, it would create a huge advantage and leverages the business.
* They Follow cultural and traditional methods, but by thoughts they are forward-thinking and business oriented.
* Buy things for a low price and think about long-term profits. Which can be saved as generational income for the future.
* Quality services and reputation matter more than profits. They have strong community support for each other.
* They take calculated risks and teach responsibility to their younger generations. Even after being rich, they still adopt strict rules on their children by giving them basic amounts and asking them to work in different states, roles and places.
These are the few things which make them exceptional business people and entrepreneurs. It has become a land of profits, the state has gained an immense amount of reputation and success in the business.
