Find Your Niche in Business. For example, I Bought the Concept of Bangladeshi Dhoti to Kolkata – says Damodar Kumar Ganeriwal

Damodar Kumar Ganeriwal (Proprietor, Pariwar Garments, Kolkata) | MentorClub.in
3 Star Rating | MentorClub.in 2 Star Rating | MentorClub.in 4 Star Rating | MentorClub.in 4 Star Rating | MentorClub.in 2 Star Rating | MentorClub.in 5 Star Rating | MentorClub.in

Work-Life Balance

Job Security

Income Potential

Work Culture

Importance of Education

Recognition

Profile Details
Name – Damodar Kumar Ganeriwal
Profession – Garment Shop Owner
DesignationProprietor
Organisation – Pariwar Garments
Age – 60
City – Kolkata
Work Experience (Years) – 42
Under-GraduationB.COMBhawanipur Gujarati Education Society College

Please give us a summary of your Career.

I completed B.Com. from Bhawanipur Gujarati Education Society College. After that, I started my own business when I was 18 years old. It was difficult to manage both studies and work. I started my shop by selling kurtas and it was a difficult time starting the business.
The funding was not an issue as they were procured beforehand. The main issue was that the vendors were not willing to give a new firm the garments on credit. There were times I had to travel to Mumbai, Banglore, and Bangladesh in order to gain Vendors’ trust to supply garments on credit. It was a very difficult thing to do that in those times.

The business gradually gained reputation and vendors started giving goods on credit. My firm was the first firm to bring the concept of Bangladeshi dhoti in Kolkata. My business has a lot of advantages but even has a lot of disadvantages.


Average Income in this Profession in the current scenario

Starting out/Fresher – 5-10 Lakhs Per Annum
5 Years of Experience – 10-20 Lakhs Per Annum
10 Years of Experience – 40-80 Lakhs Per Annum
15 Years of Experience – 80+ Lakhs Per Annum
20 or more Years of Experience – 80+ Lakhs Per Annum
How do you rate the Income Potential in your career?4 Star Rating | MentorClub.in


Work-Life Balance

On an average, as a Proprietor how many hours do you work per day?
7-9 hours
On an average, how many days in a week do you work?
6 days
Being a Proprietor how often are you required to work in night-shift?
Rarely
Does your work require you to travel?
Often
Does your work require you to relocate to different town/cities?
Never
How would you consider the job security in your profession?
Insecure
Would you consider this Profession Risky?
Risky

Overall, how would you rate Work-Life Balance in your Profession?3 Star Rating | MentorClub.in
Overall, how would you rate Job Stability of your Profession?2 Star Rating | MentorClub.in
What are the different ways of entering this profession?

There is no actual way to get into this business. The only thing required is the analysis of the market and the funding required to make your firm run smoothly.


Work-Culture

How would you rate Stress-Level in your Profession?
Very Stressful
How would you rate your office/work infrastructure?
Good
How would you describe your co-workers?
Very Competitive
Generally speaking, your work as Proprietor is
Field Work
Overall, how would you rate Work-Culture in your Profession?4 Star Rating | MentorClub.in


Importance of Education in the profession of Proprietor

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 a successful Proprietor?
12th
Would you say that Studious students are generally successful Proprietor?
No
How would you consider the Cost of Education post 12th?
Expensive
At present, which institutes are best for the education of this profession?

JD Birla Institue

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

NA

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 Proprietor?

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

The person who wants to enter this business needs to have a clear and attentive mind. Needs to see the changes in the market. Needs to adapt to the market as the market changes.

What are some of the positives, which would encourage someone to join your Profession?

1) It is a nice business to start especially if you are planning to start an even more risky business later on.
2) You need not be a graduate or a Ph.D. holder. Anyone who has a dynamic and sharp mind can enter this business and do well.
3) The government charges lesser taxes on cotton clothes and Indian manufactured products than other non-Indian brands.
4) There can be a good balance between work life and family time. There is no need to give 10 hours every day of the week.

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

1) Because of the nature of this business, there is always a high risk of suffering great losses.
2) There is no guarantee of good income in all months of the year.
3) When starting a new business, you need to travel to the different cities to convince the vendors to give you products on credit.
4) Since it is a seasonal business, then you have to work very long hours during the booming season.
5)The Income tax department, Service tax department etc. are continuously watching over you and harassing to raid the company.


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?
Medium to Large Business (Annual Family Income upwards of 20 Lakhs)
What is the ease of starting own business in this field?
Maybe Easy for Few
How easy is it to move to a different country in this profession?
Difficult
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?

I would still prefer to choose my work as this is something which I personally wanted to do. It was a decision of mine to start a business in this field. The reason being that I was always keen and interested in this field of marketing.


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