Career Counselling 2.0 HomeHomeCareer Counselling 2.0 AbroadAbroadCareer Counselling 2.0 PlanPlanCareer Counselling 2.0 | TalksTalksCareer Counselling 2.0 PhilosophyPhilosophyCareer Counselling 2.0 SeminarSeminarCareer Counselling 2.0 PagesPagesCareer Counselling 2.0 AdvisorsAdvisorsCareer Counselling 2.0 TestimonialsTestimonials

Running Family Business

Co-Founder Randhir Kumar Arora talks about Running Family Business course, what is Running Family Business and other details about a Career in Running Family Business.

















Running Family Business

Randhir Kumar Arora | Co-Founder | Book World






What is Running Family Business?


There are many nuances of a Career in Running Family Business. Internet is brimming with pages on How to get into Running Family Business, while one should first understand What is a Career in Running Family Business. Just like you would normally not trust a non Doctor with names of medicines, you should also not trust opinions about Running Family Business from non professionals.

Co-Founder Randhir Kumar Arora invested 36 years & 3 months in Running Family Business. According to Co-Founder Randhir Kumar Arora, Running Family Business is:

Running a family business is a kind of business which a person inherits from family. Its is sum of all functions like procurement, inventory, sales and marketing, human resource, accounting, logistics, distribution.





How Co-Founder Randhir Kumar Arora got into Running Family Business?


At the time of my masters I did my thesis on Book Marketing in Hills where my interest in books started. I worked in Advertising for 8 years and ran Archies distribution for 8 years. In 2001 I joined my family business of selling books, Bookworld.





Co-Founder Randhir Kumar Arora's Talk on Running Family Business


Session Image
The Journey of a Bookseller: Randhir Kumar Arora on Family Business and Passion for Reading


Running a family business can be a rewarding yet complex endeavor, and few understand this challenge better than Randhir Kumar Arora, owner of Book World. With a rich background in commerce and a love for literature, Randhir has navigated the intricate landscape of bookselling for over two decades. In this article, we dive into Randhir's experiences, insights, and the essential elements that shape his successful family-run bookstore, exploring everything from education and skills to the triumphs and tribulations of this unique profession.

What Is Running Family Business?

A family business is a unique organizational structure where family members collaborate to take the helm and steer the company toward growth and sustainability. In Randhir's case, taking over Book World meant applying his skill set to expand and improve the family’s legacy in the book-selling industry. Running such a business isn't merely about maintaining operations; it encompasses a myriad of management functions, including procurement, inventory management, sales, marketing, and human resources. Each of these aspects is crucial in ensuring the business not only survives but thrives in an ever-competitive market.

Education


Accounting

### Accounting Image

For those looking to embark on a family business journey, a solid foundation in accounting is essential. Randhir emphasizes that understanding the basics of accounting is fundamental to managing customer and supplier accounts while adhering to various legal obligations related to tax and regulatory compliance. His academic background in commerce provided him with the necessary training to navigate these areas, ensuring that Book World operates within legal frameworks and maintains financial clarity.

Sales and Marketing

### Sales and Marketing Image

Sales and marketing play pivotal roles in the success of a family business, particularly for a bookshop like Book World. Randhir's approach involves promoting the store’s offerings to attract customers both in retail environments and institutional settings such as schools and universities. His ability to forecast trends and assess consumer needs helps him stock the store appropriately, enhancing the shopping experience and driving sales.

Business Laws

### Business Laws Image

Navigating the maze of business laws is another critical aspect of running a family business. Randhir has learned the intricacies of various regulations governing his trade, such as the Sales of Goods Act and employment laws. This knowledge equips him to operate within the legal boundaries while ensuring compliance with both state and central regulations, thus safeguarding the business against potential legal challenges.

Operations

### Operations Image

Randhir’s operational skills are put to the test daily as he manages the intricate stocking needs of Book World. With an ever-growing number of subjects and books available, he must continually adapt to ensure that inventory levels meet customer demands. Developing an attractive store layout also plays a significant role in enhancing customer experience, making the journey through Book World a delightful exploration for readers of all ages.

Skills


Process Orientation

### Process Orientation Image

In the realm of family businesses, being process-oriented is crucial. Randhir adeptly tackles immediate challenges while seeking long-term solutions that do not disrupt daily operations. This approach has helped streamline processes at Book World, ensuring that everything from logistics to customer service is handled efficiently and effectively.

Communication Skills

### Communication Skills Image

Excellent communication skills are a hallmark of success for any bookseller. Randhir places great importance on reading to better recommend literature to his customers. Through rigorous engagement and careful listening, he tailors his recommendations to suit individual preferences, establishing rapport and trust with patrons.

Organization Skills

### Organization Skills  Image

The role of manager in a family business demands outstanding organizational skills. As an intermediary between customers, suppliers, and employees, Randhir must maintain a delicate balance that satisfies every party involved. His ability to prioritize tasks and orchestrate daily operations is essential in managing the various moving parts of his business.

Networking

### Networking Image

Building a network of influencers plays a vital role in the bookselling industry, and Randhir excels in this area. By maintaining relationships with decision-makers and participating in public book events, he raises the profile of Book World, making it synonymous with quality reading. Moreover, leveraging print and television media ensures ongoing visibility for the store, crucial in an increasingly digital marketplace.

Positives


Hobby becomes profession

### Hobby becomes profession Image

Randhir's love for books morphed into a profession almost organically. Growing up in a family bookstore allowed him to develop an affinity for reading from a young age, and as he transitioned into running Book World, this passion flourished into a fulfilling career. His journey underlines how hobbies can evolve into meaningful vocations, enriching both personal and professional lives.

Recognition

### Recognition Image

Operating Book World has granted Randhir significant recognition within his community. His expertise and dedication have established him as a trusted figure in the realm of literature, reinforcing the notion that a family business can create lasting legacies and generate deep-rooted respect in society.

Subject Matter Expertise

### Subject Matter Expertise Image

Randhir has honed his subject matter expertise, allowing him to guide customers effectively in their literary quests. His deep understanding of various genres and subjects equips him to fulfill specific requests efficiently, which enhances the shopping experience and fosters loyalty among customers, such as students seeking particular academic texts.

Platform

### Platform Image

The platform provided by the family business has allowed Randhir to innovate, expand, and take calculated risks that have ultimately borne fruit. Having the backing of a family-run establishment means he can be bolder in his strategies, improving sales and diversifying the store's offerings to meet the changing demands of readers.

Challenges


Profitability

### Profitability Image

One of the most significant challenges Randhir faces is profitability, particularly in light of fierce competition from online retailers like Amazon. The pressure from lower prices on these platforms has affected sales, forcing traditional bookstores to adopt new tactics to remain profitable in a market suddenly transformed by technology.

Maintaining Inventory

### Maintaining Inventory Image

Stocking the right inventory has become increasingly complex due to the explosion in book titles being published today. Randhir has witnessed a steep increase in new releases, which can complicate the stocking process and require him to make quick decisions about which titles to carry.

Uncertainty

### Uncertainty Image

Navigating uncertainties in the business landscape poses another challenge. Economic fluctuations and sudden government policies—like demonetization—can lead to unpredictable changes in consumer purchasing behavior, making it hard for family businesses like Book World to maintain steady sales.

Reading & Publishing Challenges

### Reading & Publishing Challenges Image

Randhir identifies a worrying trend in the publishing world: shorter attention spans are leading to a rise in brief reads that challenge traditional book sales. This evolution, coupled with the increasing popularity of e-books, places further pressure on brick-and-mortar bookstores to adapt or risk losing their relevance.

A Day Of


Running family business

### Running family business Image

Randhir's day typically starts late, around 8 AM, as he checks on logistics and reviews incoming stocks. By 11 AM, he is at Book World, reviewing mail, managing accounts, and distributing tasks among staff. His afternoons are filled with visiting institutional clients and overseeing store operations. Randhir's evenings usually involve finishing up paperwork and preparing for the next day before unwinding with a good book, embodying the work-life balance crucial for sustained motivation in running a family business.

In conclusion, Randhir Kumar Arora's journey in managing Book World encapsulates the complexities and rewards of running a family business. His deep-rooted passion for literature, coupled with his meticulous approach to business operations, showcases the vital role such endeavors play in preserving cultural legacies. As he navigates the evolving landscape of bookselling, Randhir’s story serves as a beacon for aspiring entrepreneurs in the literary world, highlighting the importance of resilience, adaptability, and a love for one’s craft.





Install the LifePage App to:


  1. (for Free) Watch Co-Founder Randhir Kumar Arora’s full Running Family Business Career Talk

  2. ₹ Do a Self Assessment on Running Family Business to calculate your Dream Index, which is defined as:

    According to Randhir Kumar Arora your chances of success in Running Family Business is __%

  3. Access your personalized Dream Index Report which will have all your Dream Indices sorted in descending order.

Career Counselling 2.0




<?php echo $altimage; ?>


<?php echo $altimage; ?>






How to get into

Running Family Business?



If you are want to get into Running Family Business, start by investing in a Career Plan.

The 14 hour process, guided by a LifePage Career Advisor, will help you introspect and check whether your interest in Running Family Business is merely an infatuation or is it truly something you wish to do for the rest of your life.

Next, your Career Advisor will help you document how you can get into Running Family Business, what education and skills you need to succeed in Running Family Business, and what positives and challenges you will face in Running Family Business.

Finally, you will get a Career Plan stating which Courses, Certifications, Trainings and other Items you need to do in the next 7 years to become world’s best in Running Family Business.





LifePage Career Plan

14 hour personalized guidance program















Your LifePage Career Advisor facilitates your guided introspection so that you systematically explore various Career options to arrive at a well thought out Career choice.

Next: your Advisor helps you figure out how you will get into your chosen Career and how will you develop the skills needed for success in your Chosen Career.

LifePage Plan will not stop at saying "to become an Architect study Architecture". It will guide you on which Certifications, Trainings and Other items you need to do along with your Architecture education to become the world's best Architect.











Links for this Talk




Co-Founder Randhir Kumar Arora's LifePage:


Career Counselling 2.0
[LifePage]
https://www.lifepage.in/page/randhirkumararora






LifePage Career Talk on Running Family Business


Career Counselling 2.0
[Career]
https://www.lifepage.in/careers/running-family-business


Career Counselling 2.0
[Full Talk]
https://lifepage.app.link/20161221-0001


Career Counselling 2.0
[Trailer]
https://www.youtube.com/watch?v=gdQ8WKXv-gc


(Running Family Business, Randhir Kumar Arora, Book World, Family Business, Business, Business Owner, Partner, Co-Founder)







Similar Talks



Career in Travel & Tourism
Travel & Tourism
Sanju Barick
Owner | Alternative Holidays & Travels
[ 11 years Experience ]

Tourism is travel for pleasure or business; also the theory and practice of touring, the business of attracting, accommodating, and entertaining tourists, and the business of operating tours. Tourism may be international, or within the country.

"After completing my schooling from Odisha, I did my graduation and then my MBA in Marketing from Sambalpur University, Odisha. In 2008, I shifted to Delhi and started my travel and tourism company by the name Alternative Holidays and Travels."


Career Counselling 2.0 Career Counselling 2.0 Career Counselling 2.0 Career Counselling 2.0 Career Counselling 2.0



Career in Petroleum Dealership
Petroleum Dealership
Bharat Hari
Managing Director | Premier Motors
[ 9 years & 10 months Experience ]

Petroleum Dealership is the activity of setting up an establishment that buys petroleum products from a producer or distributor for wholesale and/or retail reselling.

"I am a Business Graduate from Graphic Era University. In 2007, I joined my family business of petroleum dealership for Hindustan Petroleum Corporation . I am currently serving as the Managing Director at Premier Motors in Dehradun."


Career Counselling 2.0 Career Counselling 2.0 Career Counselling 2.0 Career Counselling 2.0 Career Counselling 2.0



Career in Book Publishing
Book Publishing
Anuj Kumar
Co-Founder | Kalamos Literary Services
[ 3 years & 5 months Experience ]

Publishing is the dissemination of literature, music, or information - the activity of making information available to the general public. Publishing includes the following stages of development: acquisition, copy editing, production, printing (and its electronic equivalents), and marketing and distribution.

"I did BA in English from Delhi University. I had tremendous interest in Literature and used to write poems and stories in college. Realising the trouble authors go through in getting their work published, I co-founded Kalamos Literary Services in 2015."


Career Counselling 2.0 Career Counselling 2.0 Career Counselling 2.0 Career Counselling 2.0 Career Counselling 2.0



Career in Real Estate Development
Real Estate Development
Sudhir Kapoor
Managing Director | Hindustan Real Estate
[ 20 years & 1 month Experience ]

Real estate development, or property development, is a business process, encompassing activities that range from the renovation and re-lease of existing buildings to the purchase of raw land and the sale of developed land or parcels to others. Real estate developers are the people and companies who coordinate all of these activities, converting ideas from paper to real property. Real estate development is different from construction, although many developers also manage the construction process.

"From my school days, I knew I wanted to start my own business but before going into any business I wanted to gain some job and professional experience so I started working with Nestle India, Dehradun as a Sales Officer. After that, I started my own business of tea and spices by the name of Zaika. In 2000, I started real estate business as a broker and since then I am working as a colonizer and builder in Dehradun and my firm name is, Hindustan Real Estate. I am also a State President of Trader Association in Samajwadi Party"


Career Counselling 2.0 Career Counselling 2.0 Career Counselling 2.0 Career Counselling 2.0 Career Counselling 2.0



Career in Real Estate Devlopment
Real Estate Devlopment
Ashish Agarwal
Managing Director | Agarwal Properties and Construction
[ 18 years & 9 months Experience ]

Real estate development, or property development, is a business process, encompassing activities that range from the renovation and re-lease of existing buildings to the purchase of raw land and the sale of developed land or parcels to others. Real estate developers are the people and companies who coordinate all of these activities, converting ideas from paper to real property. Real estate development is different from construction, although many developers also manage the construction process.

"After completing my B Sc, I did an MBA and specialization in Sales & Marketing Management from NIS division of NIT Limited. After that, I worked in a bank for around a year. Later, I did Corporate Training Certification and I was a Corporate Trainer for NIS for 5 to 7 years, and after few years I started my own business in Real Estate Development and since then I am working as a business man and I am the Managing Director at Agarwal Properties and Construction."


Career Counselling 2.0 Career Counselling 2.0 Career Counselling 2.0 Career Counselling 2.0 Career Counselling 2.0



Career in Entrepreneurship
Entrepreneurship
Bhavna Sharma
Co Founder | Connoisseur
[ 2 years Experience ]

noun: entrepreneurship The activity of setting up a business or businesses, taking on financial risks in the hope of profit

"I did my Schooling from JP Intercollege, Bareilly. After that I did my Graduation from Delhi University. Side by side I also did my Diploma in Textile Designing from South Delhi Womens Polytechnic. I worked as an Assistant Merchandiser at an Export House in Delhi. I Co Founded Connoisseur Restaurant in 2015."


Career Counselling 2.0 Career Counselling 2.0 Career Counselling 2.0 Career Counselling 2.0 Career Counselling 2.0



Career in Journal Publishing
Journal Publishing
Dr Kapilesh Dave
Advisor | IJARCS
[ 7 years & 11 months Experience ]

Journal Publishing System is an ecosystem of knowledge environments for scholars, institutions, service providers, suppliers and the general public. The mission of the System is to serve scholarly researchers worldwide and provide an equal opportunity publishing platform. The aim of the Foundation behind the Publishing System is to promote and disseminate scholarly research to all people in all countries.

"After completing my B Pharm & M Pharm from BR Nahata College of Pharmacy Mandsaur, MP and then started working as a faculty for B R Nahata College of Pharmacy & Mandsaur Institute of Pharmacy. Later, I did Ph D in Pharmaceuticals Science from Jodhpur University. In 2010, we started our own venture by the name of IJARCS and also working as a reviewer for various journals around the world."


Career Counselling 2.0 Career Counselling 2.0 Career Counselling 2.0 Career Counselling 2.0 Career Counselling 2.0



Career in Publishing
Publishing
Vivek Mehra
Managing Director & CEO | SAGE Publications India
[ 19 years & 3 months Experience ]

Publishing is the dissemination of literature, music, or information. It is the activity of making information available to the general public.

"I am the CEO and MD, SAGE publications India, a TEDx speaker, mentor, author, editor, teacher and a student. I received the Business Excellence and Innovative Best Practices Academia Award - 2019 by Dr Manmohan Singh at The New Delhi Institute of Management (February 2019) and the Sharda Top Rankers Excellence Award for Visionary Leadership (January 2016). I am also the recipient of the Vijayshree award by Government of Maharashtra (1994) for simplifying complex dehydrating technology, ensuring a brighter future for small-scale farmers. I serve as the honorary Council Member and Member of Board Studies for the Association of Learned & Professional Society Publishers (ALPSP) journal, Learned Publishing. I have edited and typeset 14 books besides authoring one courseware Fundamentals of Chemical Engineering. I was visiting faculty at Ambedkar University Delhi and taught courses at the Post Graduate level. I am currently a Board of Studies member at the School of Business, Public Policy and Social Entrepreneurship at Ambedkar University Delhi and am also a part of the Quality Assurance Committee at the same university. I was also the lead in the creation and development of an editing course at Neotia University, Kolkata."


Career Counselling 2.0 Career Counselling 2.0 Career Counselling 2.0 Career Counselling 2.0 Career Counselling 2.0





[Install the LifePage App to access all Talks]


<?php echo $altimage; ?>


<?php echo $altimage; ?>






 















&mbsp;


Career Counselling 2.0 | Home   Home  
Career Counselling 2.0 | Abroad   Abroad  
Career Counselling 2.0 | Plan   Plan  
Career Counselling 2.0 | Talks   Talks  
Career Counselling 2.0 | Philosophy   Philosophy  
Career Counselling 2.0 | Seminar   Seminar  
Career Counselling 2.0 | Workshop   Workshop  
Career Counselling 2.0 | Pages   Pages  
Career Counselling 2.0 | Advisors   Advisors  
Career Counselling 2.0 | Discuss   Discuss  
Career Counselling 2.0 | Meet   Meet  
Career Counselling 2.0 | Advisor   Advisor  
Career Counselling 2.0 | Story   Story  
Career Counselling 2.0 | Fine Print   Fine Print  
Career Counselling 2.0 | Links   Links  
Career Counselling 2.0 | Blog   Blog  
Career Counselling 2.0 | Testimonials   Testimonials  
Career Counselling 2.0 | Follow   Follow  
 
[ Site Visits ]


Career Counselling 2.0