Planning to Join Your Family Business? Anand Rathi's Priti Rathi Gupta Breaks Myths Around it
Free Book Preview: Unstoppable
You're reading Entrepreneur India, an international franchise of Entrepreneur Media.
Every time you ask a young aspiring millennial graduating out of college – what do you want to do in life? Most of them end up saying ‘I want to start something of my own’ or ‘I want to be an entrepreneur’.
Entrepreneurship is in vogue. Having said that, when you ask the same millennial whether he or she would join their family business, chances are that the will end up making a grumpy face as it is not as ‘cool’ as starting something by yourself.
Honestly, why wouldn’t you want to build on an existing base?
One such next-generation entrepreneur is Priti Rathi Gupta, of Managing Director & Promoter of Anand Rathi Share and Stock Brokers Ltd.
Apart from running that show at the Anand Rathi’s office, she has diversified her into the commodity market and is successfully running it. Additionally, Gupta has founded Ishka Films to produce meaningful content aiming at millennials along with LXME financial planning platform for women.
In a conversation with Entrepreneurs, Gupta clears the air surrounding family offices and
As discussed earlier, a lot of second generation entrepreneurs do not want to be part of the family business. But Gupta, who is second generation entrepreneur herself, believes that family business continues to hold the credibility and respect.
Nevertheless, she says you cannot join the business with an entitlement that it is your family business and you are going to change revolutionize it.
Instead, the key here is to join the business with humility and patience as when you join the business as an outsider you bringing in fresh perspectives and out-of-the-box solutions which will help you add value to the company.
“There is already a set culture and a way of working. When you as a second generation come in, you have new ideas as you are more in sync with the world. For example, today’s challenge is you have to be very technologically savvy because every busy now uses technology as a backbone,” she says while adding that, “But to be a part of the business, you have to re-engineer. You may not be able to this instantly, so you have to get a buy-in from every stakeholder already there and then, run it piece by piece.”
The Film Business
Apart from spearheading her family business, Gupta also has a keen interest in the filmmaking business.
After a lot of research, Rathi realized there is a gap in the content creating a business which prompted her to start a film fund.
About the business, she says, “I understood that there is a very interesting space where you can say a different kind of stories in a reasonable budget and monetize it digitally. And to me that was interesting because I realized – films today have a shelf life that outnumbered everything else. I was attracted to this.”
Under her film production venture Ishka Films, Gupta has produced films like Waiting and recently released Karwaan, which featured Dulquer Salmaan, Irrfan Khan and Mithila Palkar.
Her homework also made here realized, the content consumption in theatres is coming down. Giving an example of her own children she says, “most of the content is been watched digitally via Netflix and Amazon Prime. There is a lot of interesting content that Bollywood comes out with. There is still that space which isn’t providing enough to this generation.”
To hear from Priti Rathi Gupta, watch the video above: