Mohammed Mahudhawala, CA, having worked for 9 years in Gulf starts a business in Hardware in Pune. His motivating and adaptable business journey demonstrates proper financial planning, courage and immediate action.
He graduated with Bachelors of Commerce from Ness Wadia College of Commerce, Pune, Maharastra, India in 2002. He completed his Master of Commerce from Pune University in 2004. While doing graduation he had enrolled for CA, Chartered Accountant in 2000 which he completed in November 2004 in Pune.
He took up a job with Deloitte India as audit staff in 2005 and worked for 1 year. He was offered a job in Kuwait by Ernst & Young. So he moved to Kuwait in March 2006.
He joined Ernst & Young, Kuwait as auditing staff. Over the next 9 years due to his dedication, professional proficiency and determination he kept growing the corporate ladder. He was promoted to engagement auditor, senior, assistant manager, manager and then his last position was as senior manager in 2014.
As he was carrying out his duties of audit works for various clients and preparing the financial reports, the types of transaction and the profit business community make was not hidden to him. Also Aqa Moula’s (tus) bayan about being business minded was mentioned and discussed regularly. Thus the feeling to move to business someday was strongly planted into his mind and soul by 2009. So he started the saving habit each month for the capital required to invest in the business.
Next 3-4 years passed and by 2013 Mohammed realized that he was not heading anywhere. He was too busy in his work and as his job was of tedious nature; he was not getting any quality time to do any analysis as which line to pursue for business, where to do and how to start and from where to start. One thing he kept doing was to develop the habit of saving each month for his business.
What will a mumin do when he cannot decide anything? So he turned to our Aqa Moula (tus), done araz for Dua and Raza for doing business. In November 2013, he was granted Dua and Raza for “Watan ma vypaar karo”; to do the business in his watan and in specialized hardware line.
This cleared all his doubts, confusions and gave a clear direction to proceed. He was very prompt to take actions as per Raza Mubarak. He was very courageous to take the risk and take the plunge. By June 2014 he first relocated his family to Pune as his parents and all other relatives were settled there. He followed after another 7 months as he had some financial commitments which he wanted to clear before moving to India. Hence he also sifted to Pune by January 2015.
He spent next 2-3 months doing marketing research as what line to pursue and found furniture fitting and tools most suitable. He had exposure to it from Kuwait and thus in May 2015 he started his shop “Reliable Hardware”.
He invested the required capital (CAPEX & OPEX, capital expenditure & operational expenditure) from his savings and also kept a separate provision of personal funds to meet 1 year of his family expenses (family/house hold expenditure).
Well it was very different from his regular pay jobs, “you have to do all the tasks yourself”. But the fun is different all together. The scope of business is tremendous in India, the limit is only yourself. He says, he is very quickly learning the tricks of the trade and how it is done. He is guided by his father who is in business for a long time. He is patient enough, new avenues are opening up and everyday there is something to learn.
His financial planning and management skills are helping him setup and stabilize his business. He is mentally prepared that he will initially have to give in hard work and put in tremendous efforts.
He is happy that he has made the big decision of his life and the right decision. It gives him lot of opportunities socially which he was missing. He also realizes that business wise also there is very large scope. He is all geared up for put in his best and he regularly seeks advice from various resources from our community and his friends.
In future he looks taking up more agencies and dealership opportunities.
Mohammed quotes :
“Move to business as early as possible. The same amount of time & energy you put in jobs, if you devote to business, it will help you reach the top of your business.”
“Do your financial planning very thoroughly before moving to India”.
good
May Allah fulfill ur necessary. Have a successful journey in ur business