The Shagun of Punjabi business communities

When a business was started in a Punjabi trading community, the entire friends and family were invited. It was a celebration. Everyone came and bought something. That was mandatory. 

In addition, they also gave "Shagun" - a gift that is given for good luck, on social occasions. The start of a business is a perfect social occasion to a business community. 

Every guest was sent back with "mithai" - congratulatory sweetmeats to share the happiness with the guests. 

This was not any ordinary mithai. Most businesses start with a prayer ceremony according to the faith of the family. For the Arya Samaji Punjabis, that would be a yagya (havan). For the Sikhs, most likely an Akhand Path (a 2 day non stop reading of the Guru Granth Sahib). For other business families, it would be a prayer to their family deity (for 80% of Punjabi business families, that would be Mata Vaishno Devi), or to Goddess Lakshmi. This mithai was considered to be the prasad (blessing) of that prayer ceremony. 

In India, Shagun is given at weddings, at the start of a family, on entering a new house, etc. But a shagun and a small order at the start of the business, did two things: 

A. The moneys collected from the shagun helped ensure that operational expenses are taken care of for a short while. 

B. The initial orders, no matter how small, ensured a good first day of the business. The Punjabis believe that a good bohni (first order of the day is called a bohni), a good first day of the business, and a good final order of the day is auspicious. A business that does not do well on its opening day is, well, unheard of in close knit Punjabi communities. 

C. This initial order also gives every one a chance to sample your product. Then, when they recommend you to someone, they can say truthfully, "I have tried them and they are good." 

You might think that this is very well for B2C businesses, but as we move into services (CA, IT, etc) or B2B platforms, this practice cannot be replicated. 

Well, the Punjabis have been doing software (film production companies) and B2B (the entire construction and transport industry of the North from Jammu to Delhi) for a long time. 

So, here is how this goes: 

We give the shagun and we make a business transaction - this can be: 

A. A service rendered or resource shared. 

B. A discount if we can be a vendor to the business. We might also throw something in for free. 

C. An order 

D. An introduction to a potential client  

E. Govt and regulatory facilitation. 

Those who can provide vendor services do so at a very nominal rate for the first order. 

Those who can either buy or introduce one to potential buyers do that. 

The power of words

As a child, I noticed that my grandfather always addressed my grandmother as "Bhaagwaane" (O Lucky one). My grandmother, when she was angry, would scold us with "Tera Beda Tare" (May your boat find its destination).

One day, I asked my aunt why grandma scolds like that. She said, "Even in anger, we must not wish ill for another person. So instead of saying Beda Gark (May your boat capsize), she says Beda Tare."

Many years later, on a particularly tough project, I found myself getting frustrated often. One day, out of the blue, I suddenly decided, "Next time there is a moment of frustration, I will say, 'God Bless You'."

That's it. Just a change in the words we use.

Within a week, the moments of frustration were fewer, and within a month, we also managed to bring the project back on track.

We never know when our childhood will come and inspire our future. Can you think of one such time in your life?

Wealth Management in Punjabi agrarian communities

The Punjabis are largely an agricultural community. Trading was left to their southern neighbours - Jhangis, and finance to the Sindhis. Though Mahajan is a Punjabi surname (Mahajan is one who lends money on interest), it is not preponderant bcs the Punjabi considers debt to be the worst form of affliction. We are actively discouraged from taking even a penny in debt. And the Mahajans are, of course, universally disliked because they squeeze people's blood in the form of interest. There is a story of Guru Nanak based on this popular metaphor - the story of Bhai Lehna.

So, money management of the Punjabis is largely based on this wisdom, and the fact that the Punjabi has had to deal with multiple foreign invasions from the West.

ਤੱਲੀ ਉੱਤੇ ਰੱਖਣੀ ਚਾਹੀਦੀ, ਥੱਲੇ ਨਹੀਂ
Tali utte rakhni Chahidi, Thalle nahi

- Be a giver, not a borrower

Most of our wealth was in gold, because gold could be put in pots and buried in the ground. This appears to be the banking principle applied by the Punjabis. After 1947, my grandmother could only indicate the size of the pateelas in which they buried gold jewelry.

We were ok to eat less, and not have a penny of debt on our heads.