‘Trust among partners is must for success of any partnership firm’

Source: The Hitavada      Date: 28 Nov 2017 09:52:03


Business Bureau,

The Entrepreneur Forum of Vidarbha Industries Association recently held a programme 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.

In Nagpur there are several successful partnership businesses like ‘Spacewood‘ and ‘Plasto‘ to name a few, who are doing phenomenally well in their respective fields. Thus the VIA conducted the programme to highlight the secret of the success of partnership business and spell out the recipe of successful ingredient in it.

Kirit Joshi-Vivek Deshpande of the highly successful furniture manufacturers unit ‘Spacewood’; Vishal Agrawal - Vaibhav Agrawal and Nilesh Agrawal of the ‘Plasto’ containers; and Praveen Tuli-Jyoti Kapoor, the highly successful women start-up entrepreneurs of ‘Infinite Space’ were the participants in the panel discussion-cum-talk show held on the occasion.

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 multi-tasking 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.

Kirit Joshi from Spacewood 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 and 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 share common value system, imbibed in them by their families, which further tightened the bond they shared since college days.
Vivek Deshpande spoke about the importance of complete involvement of both partners in the business and working only towards the betterment of the company.

Nilesh Agrawal of ‘Plasto’ said 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 and Vaibhav Agrawal stressed that trust is the biggest need in 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.

At the outset, Akash Agrawal, Chairman of VIA Entrepreneurship Forum, said that 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. The program was moderated by Akash Agrawal while Anita Rao, Convener of the Forum, proposed the formal vote of thanks.