MANAGEMENT MANTRA
“Gain Your Client’s Trust”: Sanjay Kothari, Vice-Chairman, KGK Group
- Sharmila Chand
- Aug 09, 2022
Sanjay
Kothari may have been born in a flourishing family business of gems and
jewellery. But that did not exempt him from the business the hard way. His
father sent him to work in other firms and learn the tricks of the trade from
scratch.
That
basic grounding has helped Mr Kothari, the vice-chairman of the Hong Kong-based
KGK Group, to expand his family business to newer territories. In the over 30
years of his business life, Mr Kothari has transformed the century-old KGK
Group from mining to manufacturing and from marketing to distribution. Mr
Kothari – who admires art and loves listening to music – has also diversified
his business by venturing into new gemstones, diamonds and jewellery and also
made foray into retail and real estate.
With
over 12,000 employees, the KGK Group has also made some notable international
acquisitions. The group today has four international brands – Martin Flyer,
Gregg Ruth, Judith Ripka and Kiros – under its wings. Mr Kothari, a renowned
name in the world of gems and jewels, is an Honorary Life President of Hong
Kong Gemstone Manufactures’ Association. Sharmila Chand chats up with Mr
Kothari and is left impressed by his management principles and practices.
Your five management mantras
Create a network of support: A strong
network ensures that we are surrounded by people who can help us grow and
sharpen our skills. It plays a significant role in tackling challenging tasks
and aligning a robust strategy for prospects. Major successful expansions are
also a result of strong networks that hold things together.
Appreciate work: Most organisations
often overlook the work done by their teams at different levels. It is
necessary to acknowledge and appreciate the work done by each and everyone from
time to time to encourage more productivity and innovation.
Good governance: Ensure that the
management at the top of the hierarchy is neutral and listens well to ensure
smooth operation.
Equal opportunity: When the
management is unbiased, it gives a space for everyone to grow. It is important
to provide equal opportunities to every employee to challenge them to explore
their potential hidden skills. This keeps them motivated and expands their
horizons.
Good CSR: We all should
make sure that we cause as little damage to the environment as possible to
conserve our resources. Mother Nature should never be harmed directly or
indirectly by your goods. We have to take the responsibility of giving back to
the community and nature, which constantly help us in achieving our goals.
Turning point in your career life
Despite
being born in the lap of luxury, I lived my life with equanimity and courage.
Despite having a huge in-house business, I was sent for training in another
diamond firm, where I learnt from scratch when I started my career. I was
treated like any other worker. We would start the day with daily chores and
would finish late. Those were the growing days of this business, and everyone
had a training centre. We have one in our company too. I learnt the basics of
the business and the processes and then came back to my own company. Since then,
there is no looking back.
Secret to your success
I
am passionate about what I do. I give huge credit for where I have reached
today to my father, who was a constant guide, and I have earned this position
by constantly working hard over the years. I was always keen on exploring
creativity and innovating with new technology. I take immense pride to imbibe
our ethics of professionalism and management into the group and its
functioning. This has played a key role in revamping the IT and corporate
identity of the KGK Group.
A person you admire
My
Father, Navrattan Kothari, is an inspiration for many, and I am no exception. He
gave us an upbringing that was privileged not just in wealth but in values and
depth of life. He taught us to stand by principles in true sense.
Best advice you got
When
I joined the business, my father’s name had a hold in the industry; every move
of ours was umpired. We were in our father’s shadow. That is when he
anticipated our nervousness and gave us advice that changed our business
outlook. He said: “You can break open the egg, if you have power. Don’t worry
about the mistakes as achievements overcome failures. That is the beauty of
being successful.”
Your favourite books
I
believe that every book and every author gives us something unique to linger
upon. However, The People’s Tycoon by
Steven Watts is my most read book. This book pushed me to look at innovations
from a different perspective and taught me a lot about leadership. The story
centres on the life of Sir Henry Ford, the Ford Motor Company’s founder. The
story of a Michigan farm boy becoming America’s richest man is inspirational and
nearly unbelievable.
Your five business mantras
Understand your speciality and audience: I believe that
before establishing any business, you should have a good understanding of the
market to which you want to cater. You must be able to compute and understand
all the needs of your clients.
Raise brand awareness: Establishing
strong market presence requires acknowledging your brand’s necessity and value
in society.
Innovation: Never keep to
one style. Change is the law of society. All you have to do is come up with a
fresh concept for your business to stand out in the market.
Product quality: When it comes
to making a statement about your company, the quality of your product is very
important. The highest quality is related to the finest business remarks in
society.
Gain your client’s trust: In any
business, it is very crucial to build trust between you and your client. During
the pandemic, everyone went into a financial crisis, but the key role was
played by how your relationship was with the clients. They stayed together as
there was a trust factor with the brand, and the servicing was up to the mark.
Your message on management to youngsters
You might find it hard to crack initially, but perseverance is the key. The beginning is not always the hardest part, sustaining the growth is. Innovate and upskill as often as you can. Understand your team, your values and your vision. The upcoming generation has all the access to learning something new every day. Make sure to use this wisely. You will be unstoppable once you realise your strengths and work accordingly.
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