As one of the most renowned and successful Nepali entrepreneurs, Mr. Shah is the source of inspiration for many people. People generally tend
to assume that it takes a ruthlessly workaholic personality to stay at the top of the corporate pyramid. However, in Mr. Shah’s case, it would be fair to say that he has broken this mold and built his own. In his own words, he is ‘first and foremost a family man’ and then
a business leader. As someone who is known to be humble, selfless, and down to earth, Mr. Shah states that success
is actually the feeling of joy that one can only experience by helping others.
Recently, the team of Versatile met with Mr. Shah himself to know more about him.
As an entrepreneur, what is and would be your contribution to our country ? What is your approach to marketing in Nepal?
JGI is about happiness and bonding. We believe that our products and services help people enjoy their lives more and create many memories that they can cherish forever. At JGI we make happy water for fun people! We have been in the distilling business for many years
offering several high-quality brands all over the country. We pride ourselves on being one of the biggest supporters of Nepali sports, cinema, fashion, music, and ethnic festivals. Furthermore, we also pride ourselves on being one of
the largest tax-paying families in the country, and on top of that we were one of the highest contributors to multiple Covid Relief Funds around the country.
We also aim to uphold the causes of women empowerment in the workplace and have been making consistent efforts to hire more qualified women in our group.
During its evolution, JGI faced several bumps on its journey but now has managed to be right on top ? What are the major factors for this success ? How does it feel ?
Over the course of the last two decades, our country has faced its fair share of challenges, just like all citizens and businesses. We have not only survived but have taken this as an opportunity by being flexible and innovative. We have been consistently investing in research and development, state-of-the-art technology, and product development, along with the latest management systems.
For our family, our work is more than business. We put our heart and soul into it so as to make sure that members of our JGI family are well taken care of. In addition, we have had great luck with hiring and retaining some of Nepal’s most qualified and experienced leaders to manage our company. It feels really good knowing that JGI is one of the biggest taxpayers in Nepal. It’s a fact that makes me proud especially knowing that we are not the richest family in Nepal, but we still make it in the top taxpayers’ list above families that are richer than us. I often say that I am actually not in the liquor business, but rather in the
tax generation business. At our peak capacity, we managed to pay the Nepal government 1700 crores in tax in a single calendar year, which is an achievement I am genuinely proud of !
What are your company’s
values ? What are the qualities you look for your employees to carry out those values ?
Our company value reads like this:
“We strive to offer our consumers
the most satisfying and enjoyable products and experiences possible while
maintaining the highest quality control measures, as well as we do constant research and development for continuous improvements.”
Besides, we also aim to provide our esteemed employees with the best working environment and the best benefits. Overall, we pledge to be an upstanding organization and play an
integral part in our local community. We pledge to be a major contributor to our nation’s growth and always follow all the laws and protect the environment.
There are 3 qualities we look for in our employees:
Knowledge:
We believe that knowledge is power and there is never an end to learning.
We invest heavily in training and development of our employees, so besides their education and past working experiences, it is important for us that they must be capable and constantly willing to learn.
Work Ethics:
We value our employees to always give their 110% in whatsoever job they are performing and always strive to exceed the expectations.
Moral Ethics:
Honesty and sincerity is the cornerstone of our business, and we expect all our employees to always follow these moral codes.
We came to know that you have a big interest in vintage automobiles. How did you develop this interest and how many automobiles are parked in your garage at the moment ?
I have always loved cars, however, my brother-in-law, Grishma Lal Shrestha, was the one who really got me into restoring and collecting. I am fond of seeing old cars come back to life. It gives me immense pleasure to go on drives with my little daughters in our vintage cars.
For me, vintage cars are no different from old statues, paintings, and wood carving. I feel that I am blessed to be able to preserve some of the country’s history through these cars.
There have been many other vintage
cars that have been sold for scrap or broken apart and smuggled out to foreign countries. I have over 30 vehicles but all of them need constant attention to keep them in driving condition.
What are the important prerequisites for a businessman ?
In your view, what would be the top qualities/skills required to be a successful entrepreneur ?
Well, the first thing is that you have to be able to take risks when others are not and it is important to keep getting up every time you fall down. It demands you to be extremely diligent as well. Besides these qualities, you should ensure that the process never slows down. An essential thing to keep in mind is that you cannot settle for mediocre performance and results if you want to conquest what you desire: only by giving your best will keep you on the top. If the glory is attached to staying in 2nd place, then there would not be any motivation to stay in the
first place. Furthermore, to advance the organization to its uppermost potential, you need a great team because you cannot possibly do everything on your own and it is really impractical as well. Likewise, it also requires you to be in tune with the market and know what your customers demand, as well as to constantly educate yourself and adapt yourself to the flow of time. Lastly, you can only be successful as a businessman if you are humble, ethical, and willing to contribute back to your country and society.
What was the most notable part of your entire entrepreneurial journey ?
My ability to consistently learn and adapt to the forever changing challenges and opportunities is something I would emphasize as a notable part of my entrepreneurial journey.
How would you like to be remembered by people ?
They don’t have to remember me; they just need to remember and enjoy our
brands every Friday! I don’t have that ego to be remembered. I am just a successful businessman. Instead, I believe that Nepal needs to remember real heroes like Dr. Sanduk Ruit and Dr. Bhagwan Koirala.
What or who is the greatest source of inspiration for you ?
I am an active member of both Entrepreneurs Organization (EO) and also Young Presidents Organization (YPO) and I have learned the most from these organizations. They have changed my life for the better.
I spend a lot of time reading and following the world’s most inspirational leaders, so I can continuously evolve to be not just a better entrepreneur but to be a better human being.
What was your childhood like ? Your family, education, and your upbringing.
I was always very close to my family and its business. I had a wonderful schooling at Lincoln School. I later went to the USA for my college years. Overall, I must say that I had a very happy childhood thanks to my loving and hard-working parents.
I feel that I spent my wonderful younger years around amazing people in the most beautiful country in the world.
Growing up, did you plan to be a businessman? If not required to handle the family business, then what would you be doing today ?
I was literally born in Jawalakhel Distillery. So, from my early childhood,
I always knew that I was going to be a part of my family business and I was actually quite prepared to take on that responsibility. If I could do something else though, it would definitely be related to nature and animals. If I wasn’t in this career and had the option to choose another career of my liking, then I would
have opted to become a park ranger at a forest in Nepal.
What future have you envisioned for your kids ? How are you grooming them ?
My girls will take over and lead our family business if they desire to do so.
We work hard to teach them to be brave, curious, hardworking, competitive, honest, loving, polite, humble, and generous.
I am always encouraging them to be physically involved with sports, nature and animals, and not get addicted to technology too much.
Who do you think, influenced you the most among your parents ? In your view, whose characters you possessed ?
My father taught me to always be ethical and honest, give meticulous attention
to small details and only settle for the world’s best technology.
My mother taught me to be a hard worker, to not tolerate lies and laziness, to be genuine, and mostly to help other people who are in need.
survival and growth of Ruslan Vodka
for over 50 years. Another notable achievement was making Warsteiner factory in Nepal. Even the brand owners from Germany were so impressed with our factory in Lumbini that they termed it the best brewery in South Asia. I would also want to mention that today, we are proud to produce and sell Budweiser, the largest beer brand in the world.
It seems like you are not only limited to the liquor industry, as we have heard you also have an interest in real estate. How would you like to progress in real estate in the next decades ?
Real Estate will always be one of the best investments in Nepal. However, properties are already over-priced in Kathmandu and other industrial cities. I am concerned about how it’s becoming increasingly difficult for first-time homeowners to just afford a small home in the major cities of Nepal. In my opinion, the new federal state capitals are where we will see the land prices skyrocket. We would like to have an office and a factory in each of the new federal state capitals in the long term. Personally, for me, there will be nothing better than to have retirement plots in the most exotic places like Mustang
Because of low public confidence and weak government oversight, the public’s capital is simply not reaching the industrial sector. Another major problem is the weak government policy-making mechanism. Many industrial policies are being formulated without involving the stakeholders in the policy-making process. If we wish to achieve serious growth that works in favor of the public, we don’t even need to look very far: we can simply learn from our neighbors
like India and Bangladesh. Honestly, the environment here just isn’t good enough for the good people of this country to do well. Without stability, growth is simply not possible.
With regard to the counterfeit and knock-offs of our brands, I have to say that they are among the biggest threats to consumer safety and our brand value. There are some serious copyright issues that need to be addressed in the country. The government’s policy implementation mechanism needs a serious overhauling and upgrading to cater to the interests of the public and the private sector.
The past couple of years were probably the most challenging period in living memory, not just for businesses, but actually for the entire humanity in general because of the Covid-19 outbreak. How did this pandemic affect you and your business ? What life lessons can
we derive from this experience in general ?
Covid-19 was a challenge that none of us had anticipated and were prepared for. Yet, I do feel glad about how we are gradually returning back to normality. When the pandemic first struck Nepal and all the lockdown measures were
put in place, our business was gravely affected. But even with the business situation, our main concern was the welfare of our employees. We made sure
You have produced so many
achievements and have won so many
more accolades: so what does success What do you think are the biggest feel like? If you had to choose a few,
what do you consider to be your
greatest achievements till today ?
I am very grateful for what we have achieved and I thank God for it every day. In Nepal, all businesses go up and down, so it’s a never-ending journey. Being number 1 is difficult; nevertheless, staying on top for many generations is a whole different game. I am particularly proud that I have contributed in the
challenges that are being faced by Nepal’s industrial sector at present? Time and again, we stumble upon news about counterfeit products and knock-off brands becoming noticeably visible in the market. How do believe this issue should be addressed by the responsible parties ?
Perhaps the biggest challenge right now is the lack of loans from the banks.
that our employees were safe and doing okay. I am proud to tell you today that no JGI employee died from the pandemic. Personally speaking, it was heartbreaking to see people I knew for years dying
from Covid-19. It was also hard getting used to the lockdown and not being able to live a normal work life as I was used to. But I think Covid-19 has taught this generation of humans some important
life lessons. Since the pandemic, I have learned to have a more patient and grateful outlook toward life. The most important lesson we have to learn after this pandemic is not to take anything in life for granted; we have to appreciate everything we have right now.
In your opinion, what yields the most: working with intelligence or just working arduously ?
You need both! However, what’s more important is ethics, which is in short supply globally and not just in Nepal. Technology has blessed us but we need to combine it with ethics. In particular, good work has to be valued and it takes a combination of both intelligence and hard work to achieve that.
How do you define success ? What’s the true meaning of success for you ?
“Success to me is to be a good son, brother, husband, father, and a friend. And also to live a bold and brave life without fear and regret.”
To be humble, compassionate, and to be content with what you have. You are supposed to be successful once you get the greatest happiness from helping others.
How do you manage to balance your personal and professional life ? Does being an entrepreneur affect family life ?
I am a workaholic person, to be honest, and many times I am too stressed to sleep because of my work. Thus, it is very important that I take some time off for my family and personal interests. I try to take an average of 45 days off a year.
I have great people who manage my business, along with the technology to be in contact anywhere and anytime on the planet. An entrepreneur has the freedom to take time off for the family, whereas their employees growth that works in favor of the public, we don’t even need to look very far: we can simply learn from our neighbors like India and Bangladesh. Honestly, the environment here just isn’t good enough for the good people of this country to do well. Without stability, growth is simply not possible.
With regard to the counterfeit and knock-offs of our brands, I have to say that they are among the biggest threats to consumer safety and our brand value. There are some serious copyright issues that need to be addressed in the country. The government’s policy implementation mechanism needs a serious overhauling and upgrading to cater to the interests of the public and the private sector.
The past couple of years were probably the most challenging period in living memory, not just for businesses, but actually for the entire humanity in general because of the Covid-19 outbreak. How did this pandemic affect you and your business ? What life lessons can
we derive from this experience in general ?
Covid-19 was a challenge that none of
us had anticipated and were prepared for. Yet, I do feel glad about how we are gradually returning back to normality. When the pandemic first struck Nepal and all the lockdown measures were
put in place, our business was gravely affected. But even with the business situation, our main concern was the welfare of our employees. We made sure that our employees were safe and doing okay. I am proud to tell you today that no JGI employee died from the pandemic.
Personally speaking, it was heartbreaking to see people I knew for years dying
from Covid-19. It was also hard getting used to the lockdown and not being able to live a normal work life as I was used to. But I think Covid-19 has taught this generation of humans some important life lessons. Since the pandemic, I have learned to have a more patient and grateful outlook toward life. The most important lesson we have to learn after this pandemic is not to take anything
in life for granted; we have to appreciate everything we have right now.
In your opinion, what yields the most: working with intelligence or just working arduously ?
You need both! However, what’s more important is ethics, which is in short supply globally and not just in Nepal. Technology has blessed us but we need to combine it with ethics. In particular, good work has to be valued and it takes a combination of both intelligence and hard work to achieve that.
How do you define success ? What’s the true meaning of success for you ?
To be humble, compassionate, and to be content with what you have. You are supposed to be successful once you get the greatest happiness from helping others.
How do you manage to balance your personal and professional life ? Does being an entrepreneur affect family life ?
I am a workaholic person, to be honest, and many times I am too stressed to sleep because of my work. Thus, it is very important that I take some time off for my family and personal interests. I try to take an average of 45 days off a year.
I have great people who manage my business, along with the technology to be in contact anywhere and anytime on the planet. An entrepreneur has the freedom to take time off for the family, whereas their employees probably do not have that luxury.
How do you release yourself from the stress? Would you lament on others or shun the world ? What really drives you to move forward each time ?
Besides, I love reading and following inspirational people on YouTube. I enjoy
riding my bikes and cars early in the morning. Also, I love spending time with my loving dogs. I really enjoy having
a good drink with good friends. To be precise, I have a long and detailed ‘Bucket List’ that I am ceaselessly working on.
Can you tell us about some of JGI’s upcoming plans ? How is it planning to take on the future ? Is there a potential for any regional and international expansion on the horizon ?
I love Nepal and I don’t wish to go anywhere else. So if I do any business,
it will be primarily based in Nepal.
With regards to JGI’s plans, we have been implementing a lot of digital technology in our operation, because after all the present and the future are digital! In terms of product expansion, we are exploring the potential of non- alcoholic beverages too like soft drinks, juices, and water. I am also looking forward to exploring avenues in digital ventures, hydropower, alternative energy, entertainment park, and tourism. Nepal also holds tremendous potential in medical marijuana, but for that to work out, our government really needs to do its homework and see the right model to open it.
Conclusion
Your favorite business-related book ? Writer ?
A good CEO reads 4-12 books a year.
A great CEO reads over 50 books a
year. I have a long list of books that I like. Nevertheless, to name some of my favorites: David Allen, Jim Collins, Brain Tracy, John Maxwell, Vern Harnish, Stephen Covey, Robert Kiyosaki, Simon
Sinek, Mel Robbins, Tony Robbins, Warren Buffet, Dan Pena, Bruce Lipton, Peter Drucker, Al Ries, and Zig Ziglar.
Where do you like to travel mostly ? Does traveling make you happy ?
We love traveling all over Nepal and the world, and mostly prefer warm weather, sunny beaches, great food and friendly people.
Who is your role model ?
To name a few, Nelson Mandela, Jack Ma, Warren Buffett, and of course Dr. Sanduk Ruit, whom I regard to be the greatest man alive in Nepal. I am also quite excited to see how Kathmandu’s New mayor Balen Shah will do. I hope he will inspire the youth to get more involved in fixing up our beautiful country. I would also put Dr. Bhagwan Koirala on this list. Imagine how different would our country be if we had a leader like Dr. Koirala or Dr. Ruit at the top ?
What would be the title of the biography, if to be written on you ?
Resilient Raj: the man who fell down many times but never gave up! A person who lived life to the fullest. Someone who genuinely loves Nepal, the most beautiful country in the world.
What would be the leaf out of your book that others could take? That could be the utmost guidance for new & aspiring entrepreneurs.
“What I believe is that you should keep improving yourself by learning something till the day you die as well as always keep
taking risks and get out of your comfort zone. Furthermore, beware of arrogance and ignorance getting in your head.”
Which is worse, to be failed or to give up ?
“Failure is a part of learning in life. If you do not fail, you are not pushing yourself hard enough. Never give up, no matter what life throws at you!”
What one thing have you not done yet, that you really want to do ? What’s holding you back ?
I want to be healthier, so I can dance with my daughters at their weddings. And one day, hopefully, hold my wife’s hand, as we watch our grandchildren play in our garden. I have already started working out and am working towards establishing healthier eating habits.
