Marwari’s business men are known for their business acumen, adaptability to change with time and focus approached towards managing business is great source of inspiration and learning. People who think Marwari business approach is just a traditional way of doing business; I think Steel king Laxmi Naryan Mittal, Rahul Bajaj (aka hamara bajaj), Aditya Birla, Gautam Singhania, Rakesh Jhunjhunwala and many more names are enough to understand that their philosophy is working well on today’s modern era. Learning from Marwari approach cannot be just restricted with doing business, it can be practised while managing the projects. Sharing couple of things

1. PROJECT
MANAGEMENT
Marwari Business Approach
Vishal Kulshrestha

2. M = MONETIZATION MENTALITY
• Revenue is bottom line for a Marwari – not
top line.
Revenue is always what is NET, its not what is
BILLED
Every capital investment (be it material, or
machine or manpower and computers) had a
‘monetization expectation’ attached to it

3. M = MONETIZATION MENTALITY
• Project Management
 How much efforts we have saved
 How smartly we have squeeze the timelines
 Every single effort and single day matters
 How?
o More Clarity
o Risk Identification
o Clear Communication, Expectation & Escalation
o Less Assumptions
o Constant Improvement
o Project Postmortem, lesson learned

4. A = ACCOUNTING
• Know your Accounts
All successful Marwaris really know their
accounting. Trial Balances, P&L statements and
Balance sheets are the juiciest novels that a
Marwari reads. What they clearly understand is
the concept of ‘Capital’ & how Capital gets
generated at the lowest cost and how that same
Capital then needs to be exploited to the fullest.

5. A = ACCOUNTING
• Know your Efforts
 Proper & VALID Effort Estimation
 Track your efforts & Timeline
 Ask-Ask-Ask if resource spend single unit of
additional time
 Dig & Investigate if things goes wrong or out of
control
• Avoid ‘will see tomorrow’ attitude
• Don’t carry forward work of this week to next
week

6. R=RIGHTEOUS RIGOR
• Ethics and righteousness
• Most People are naïve and innocent and very
trusting. We have to honor their faith in us.

7. R-RIGHTEOUS RIGOR
• Project Management
• Proper Work Allocation
• Support them to execute the task
• Know their problems, difficulties
• Genuine Targets
• Not a just MANAGER, try to be ‘facilitator’

8. W = WAIT, WATCH AND WIN
• All good things in life take time. One has to
learn to wait, watch and then win.

9. W = WAIT, WATCH AND WIN
• Project Management
• Be patient
• Be a good listener
• Don’t just react, act sensibly
• Understand Problems and provide solution, work
arounds

10. A = ATTITUDE ADJUSTMENTS.
• Marwaris generally have little ego issues, but
they adjust quickly as time demands

11. A = ATTITUDE ADJUSTMENTS.
• Project Management
• All people cannot be handle with same style
and same fashion
• Respond as time require
• Sense the severity, situation and environment
• Create proper environment

12. R = RISK
• Marwaris are known for taking risk, but more
importantly they manage risk very well
• Same is in project management Risk
identification doesn’t mean that we will not take
the risk, but how we are mitigating with that risk
is more important
• Don’t seek other propel to justify your decisions

13. I = INNOVATIVE /CREATIVE
• Marwari companies and entrepreneurs always
‘re-think’ business processes, concepts and
change ‘this is how it is done’ to ‘this is how it
can be done profitably’
• Project Management is also a process which
required constant improvement and we can
find the way how we can optimize the process
and save the time

14. MARWARI
• M = Monetization Mentality
• A = Accounting
• R=Righteous Rigor
• W = Wait, Watch and Win
• A = Attitude Adjustments.
• R = Risk
• I = Innovative /Creative