Running Your Own Shop Is Very Risky, As Customer Preference Changes Rapidly – says Manoj Kumar, Electric Shop Owner at Gaya

Manoj Kumar (Shop Owner, Kushwaha Electric, Gaya) | MentorClub.in
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Work-Life Balance

Job Security

Income Potential

Work Culture

Importance of Education

Recognition

Profile Details
Name – Manoj Kumar
ProfessionShop Owner
DesignationOwner
Organisation – Kushwaha Electric
Age – 39
City – Gaya
Work Experience (Years) – 20
Under-Graduation – B.Com., Gaya college
Post-Graduation – MBA, Gaya college

Please give us a summary of your Career.

I was introduced to this business in the year 1998 when the health of my father started deteriorating. At that time, I had no idea of this business, how it is managed, how profits are made etc.
But, my father had a great experience and he taught me everything thereafter.
My B.Com. and MBA also played a great role in this as I had learned various marketing techniques in my studies.
Basically, my business comprises of selling various electric things like the electric motor, it’s tools and many other electric machines.

Please describe your current Job Responsibilities as a Shop Owner.

My responsibilities comprise of dealing with customers and dealers. I have to sit at my shop from 9 am to 7 pm or maybe even later. I have to travel to various places to secure the supply of my goods and get payment from customers.
When I am at my shop, I deal with the customers about their machines and equipment problems and provide them with the types of equipment at reasonable rates. My main motto is to keep my customers happy so that I can secure my business in the long run.


Average Income in this Profession in the current scenario

Starting out/Fresher – 0-2 Lakhs Per Annum
5 Years of Experience – 0-2 Lakhs Per Annum
10 Years of Experience – 2-5 Lakhs Per Annum
15 Years of Experience – 2-5 Lakhs Per Annum
20 or more Years of Experience – 2-5 Lakhs Per Annum
How do you rate the Income Potential in your career?3 Star Rating | MentorClub.in


Work-Life Balance

On an average, how many hours do you work per day?
More than 9 hours
On an average, how many days in a week do you work?
6 days
As a Shop Owner, how often are you required to work in night-shift?
Never
Does your work require you to travel?
Often
Does your work as Shop Owner require you to relocate to different town/cities?
Rarely
How would you consider the job security in your profession?
Insecure
Would you consider the profession of Shop Owner risky?
Risky

Overall, how would you rate Work-Life Balance in your Profession?4 Star Rating | MentorClub.in
Overall, how would you rate Job Stability of your Profession?4 Star Rating | MentorClub.in
What are the different ways of entering this profession?

One can open a business of its own. But, keeping in mind the market competition and demands.


Work-Culture

How would you rate Stress-Level in your Profession?
Stressful
How would you rate your office/work infrastructure?
OK
How would you describe your co-workers?
OK
Generally speaking, your work is
Office Work
Overall, how would you rate Work-Culture in your Profession?3 Star Rating | MentorClub.in


Importance of Education in Your Profession

Would you say that Education from top School/College plays a major role in the success of this Profession?
No
What level of Education is sufficient to be successful as a Shop owner?
Simple Graduation
Would you say that Studious students are generally successful as Shop Owner?
No
How would you consider the Cost of Education post 12th?
OK
At present, which institutes are best for the education of this profession?

Indian Institute Of Management Ahmedabad is best for MBA.

What is the cost of education (post 12th) of this profession at present?

Can be as low as 50,000 INR for the entire course.

Overall, how would you rate the role of Education in your Profession?2 Star Rating | MentorClub.in


According to you, what kind of person is likely to be Happy & Successful as a Shop Owner?

First Personality Trait – Energized by people, enjoy a variety of tasks and good at multitasking
Second Personality Trait – Focus on possibilities and value innovation to come up with creative solutions to problems
Third Personality Trait – Prefer to make decisions using logic by weighing the pros and cons
Fourth Personality Trait – Prefer to keep the flexible plan and keep options open
Fifth Personality Trait – Prefer to seek new experiences and create new things
Sixth Personality Trait – Prefer to be easy-going and flexible with life
Seventh Personality Trait – Prefer to be just and fair and not try to make everyone happy
Eighth Personality Trait – His/Her Family and Friends agree that S/he is usually relaxed, calm and happy
Please provide details

Business involves a lot of risks. It depends on the person how maturely they deal with it.

What are some of the positives, which would encourage someone to become a Shop Owner?

Having own business means you don’t have to work under anyone. You are your own boss here.
You get to meet various dealers and customers, which gives you experiences that help in the long run.
The entire profits are mine and I get to choose which employee of mine gets what part of that profit.

What are some of the negatives that you would want someone to be aware of when considering a career as a Shop Owner?

Owning a business is a very risky job as you don’t know when the demand of customers will change and when your business will stop making a profit.
It also goes through various ups and downs as in some season the demand for a particular product is less so making a profit in that season becomes very difficult.
Business location is also very important, because if your business is not in a customer attracting area, then you will have fewer profits.


Recognition in your Profession

What is your family’s view of your Profession?
My Family is Impressed
What is Friends’ view of your Profession?
My Friends are Impressed
What is Society’s view of your Profession?
Society is Impressed
Overall, how would you rate the Recognition aspect of your Profession?5 Star Rating | MentorClub.in


General Information of your Profession/Business

What kind of family’s financial background can maximize success in this profession?
It Doesn’t Matter
What is the ease of starting own business in this field?
Very Difficult
How easy is it to move to a different country in this profession?
Impossible
Now you have several years of work experience and you have seen professions of others. If you are taken back to 10th/12th class and allowed to pick a profession, then which profession will you pick and why?

If I am taken back to 10th/12th I would again choose this business. I am very much satisfied with it. And Happy too


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