ME individual coursework

Jaidiip Kailash Manuja

Made by: - Antus manuja (13026872)

ABSTRACT
The following is an account of the entrepreneurial journey of my
father Mr. Jaidiip Kailash Manuja.

Timeline

The Journey
Jaidiip Kailash Manuja was born in Saharanpur in 1972, and has moved
around a lot throughout his school life, since his father worked in a
government job which was posted ot a new location every few years.
He started to look for a field where he could start earning money fast,
due to the sole reason of creating a financial base for his life with my
mother in the future, who he had met in 11 th grade. He finished his
schooling from St. Pauls Kathgodam in 1989, and later moved on to
study at the Jhalana Institute of diamond cutting and polishing, Jaipur.
Post completion of this course, he started a partnership business in
Jaipur itself, due to the high demand for jewellery in the city. He set up
a semi-precious stones manufacturing business, which consisted of
stones such as garnets, amethysts, gold and diamonds. He had
parental help in the funding of the business. A major political event
known as the Babri Masjid riot of 1992, caused a rift between Hindus

and Muslims, and, since most of the workers in Jaipur were of Muslim
descent, they opened making businesses at home and started
manufacturing at 60% lesser the cost. This caused his business to
eventually die out.
He then moved to the capital of the country like many others for job
opportunities in the city and moved in with his elder brother. After
many interviews, he secured a job at the Bombay
based company Baccarose cosmetics Ltd. He
worked their as a sales officer for a period of 5
to
6 months, and he was supposed to operate on
B2B sales. He was officially part of the first
team to make sales for imported perfumes
in New Delhi. He was laid off of work due to
his immaturity
at the time, causing a quarrel with his seniors. So
after his termination, he moved up the ladder and got appointed as an
Area Sales Manager in Tipps and Toes, where he worked for another 4-5
months. This job ended due to a strike within the company, as they
were carrying out illegal activities. He then started using Universal
placement as a means of getting recruited after he could not secure a
job for a brief period. They helped him find work at Zain chips for the
post of Area Sales Manager again, where he continued to work for 6
months. The company was one of the first ones to import digital
phones with keypads at the time.
After getting married during this job at the age of 24, he was again left
jobless after 2 months due to a quarrel between the owners of the
company, causing them to wind up operations. He then started
working on a commission basis for the placement company whose
services he used to avail , but, due to being financially unhappy, he
invested his money in collateral materials as he was backed up by his
friend, . His friend offered him an office space off-the-book in exchange
for advertising his travel agency, and then went back on his word. My
father took this up as a challenge, and immaturity struck again as he
opened his own travel agency business, Aroma Travels, at home,
alongwith the placement service operations. The print media costs
were low at the time, and he saw this as an opportunity to expand both
his businesses through advertisements. He offered a USP of home
service for his placement service at a certain convenience charge.
Through his hard work, both his businesses boomed and over time he
collected a working capital of Rs. 100,000 which was an amount of
huge value at the time for him. He started selling railway tickets
initially, and slowly expanded into air tickets. His first air ticket was
sold to a certain Mr. Hemant Bahari, who plays a vital role in the future,
as discussed later.

But as time passed by, his costs increased and he needed more
investment as he now had wants for luxuries and also a family of four
to look after. He found an investor in the form of Mr. Bhagat Singh, who
had political connections. Mr. Singh used this as an opportunity for his
son to learn how to run a business. Unfortunately his son was a
frequent drug user, and started causing problems to the business and
complications arose which motivated the decision to move to Gurgaon
to start afresh. Now, as he was delivering an air ticket to Mr. Hemant
Bahari, who resided in Gurgaon, he received a job offer for him as a
real estate broker. He accepted, and worked under his guidance for two
years, learnt the trade, and eventually he completely sidelined the
travel agency business.
In 2004, he opened his own real estate company, C-Pearl
in
partnership with a landlord providing him with workspace, and
investment to the business. His business bloomed and these were his
peak growth years where he financially became very strong through
success in the field. He started expanding the firm on a global scale
and started operations in Pune, Bangalore and Los Angeles. C-Pearl
was awarded the best NRI service in 2006, in LA. Recession hit hard in
2008, and he didnt do any business for a long period of time which
shut down operations everywhere except for Gurgaon. He realised that
this field is not consistent and he opened a club along with two other
people, which hit breakeven within a years time, but by that time the
other partners had ran out of cash, and, he single handedly ran the
place for some time, but it failed. He bore a total loss of Rs. 3 million in
the project an a notional loss Rs. 3 million in the real estate field. To
revive himself from here, he decided to
open another real estate firm as a sole
proprietor
this
time.

At present, he is a sales partner for a huge residential project SAAN

VERDANTE, and now has overcome all his losses and is financially
very stable. He is again working towards expanding his current
company, Trinity Realty Pvt. Ltd. on a global scale.
Relation to Barringers model
It is found that he possesses the tenacity to face failure, and sees it as
a learning opportunity, and does hold the mental composure to make
wrongs right. He also holds the quality of executing a business idea. He
was always headed into the right direction, and was a risk taker, but
those risks were very calculated. It so happened by chance, that the
external environment constricted him at times.
Relation to Burns model
1) Personality traits He is opportunistic, as seen he always headed to
the direction where he saw scope for his future. He has great
leadership skills, as he was single handedly managing offices in
multiple locations at once.
2) Antecedent influences There were many external hindrances such
as, the Babri Masjid riot caused him to wind up and relocate, the 2008
recession caused him to try and run another business to create some
regular income.
3) Culture The Indian culture was very orthodox back then, which
required for the man of the house to earn well before someone would
give off their daughter.
4) Situational factors The main triggering factor to make money was
his want to get married. Eventually, once he achieved that goal, he
learnt he had a want for financial stability, so as to make the life of his
family much better.

Relation to Sarasvathy model

The following table points out accounts of effectual and causal
incidents in the journey.
Effectu
al

Causal

Starting semi-precious stones business, as he had no

entrepreneurial goals, but used it as a means to tackle
societal norms.
Moving to Gurgaon to start afresh.
Joining real estate was due to a client found in the
travel agency business.
Failure of the club caused him to conclude that he
would work best in real estate as sole proprietor as his
customer base would be the same.
Moving to New Delhi for getting hired in the marketing
field.
Joining hands with a sleeping partner in the real estate
business, so as to expand faster and avoid rent costs.
Found investor for travel agency to increase working
capital.

Conclusion
It can be concluded from the analysis of the entrepreneurial journey of
Mr. Jaidiip Kailash Manuja, that, an entrepreneurs life is not solely
based on skill, or, luck. An entrepreneur is to hold certain qualities, and

risk taking abilities to survive. They need to hold certain traits and as
well as need to be in the right place at times, for new means to open
up, so as to, use it to their advantage later on. They may or may not
have a goal, but the connections they make and the experience they
gain is just as important.
References
Aryan, Neha. "ENTREPRNEURSHIP". Slideshare.net. N.p., 2010. Web. 1
Apr. 2016.
Sarasvathy, S. D. "EFFECTUAL REASONING IN ENTREPRENEURIAL
DECISION MAKING: EXISTENCE AND BOUNDS.". Academy of
Management Proceedings 2001.1 (2001): D1-D6. Web.
Zulkefle Idris, PMP. "01 Intro To_Entreneurship". Slideshare.net. N.p.,
2016. Web. 1 Apr. 2016.