Kailash and Chandan are friends. Both are working in the private sector. Kailash gained experience on the marketing side of a few garment manufacturing firms. With this experience, Kailash began making plans for setting up a big retail store for selling readymade garments of various brands. After setting up the first store in Bhubaneswar, he planned to expand his business to other centres. His plan, however, hit a snag. Although he tied up most of the finances, he felt short of some amount.
In the course of his conversations with Chandan, Kailash broached this topic with Chandan. He did not expect help from Chandan, but was rather sharing his problem with him. Chandan’s imagination being hyperactive, he got carried away. On hearing Kailash’s plan, he saw visions of instantaneous success with rapidgrowth of swanky shops all over India. He thought that marketing guys had a way of swinging things. He thought that he should join the venture, and not miss the opportunity.
But he had no money. He knew that it would be difficult to raise large cash from his family. His wifeRukmini wasfrugal, and wanted to save all they couldfor meeting the expenses on the education and marriage of their daughters. Nor were his parents or in–laws in a position to lend Chandan money. Still, Chandan rashly promised that he would become a partner, and would contribute the needed balance capital. Kailash was pleasantly surprised, but told Chandan that the cash would be needed in six weeks. Otherwise, it would be impossible to tie bank loans and other finances.
Unfortunately,Chandan failed to borrowthe money to put into theventure.Thebanksrefused to lend money to Chandan in the absence of any security by way of shares, deposits, gold or property. Kailash had to undergo great difficulty since Chandan failed to give him the promised money.
In the situation narrated in the problem what should Chandan have done?
1. He should not have joined the venture.
2. He could have joined the venture, but told kailash that he may not eventually succeed in raising the cash.
3. If we let go opportunities that come our way in life, we will make no progress in any sphere.
4. There is no harm in hoping that somehow things will work themselves out.
The first option is the best in this case. Chandan had no resources for ploughing into the venture. As his parents and in-laws also had no resources, there was no way he could have raised the money. In such situations, it is better to be realistic, and let go certain things beyond one’s reach.
The second answer choice may seem reasonable, but it is not really so. There is no point in holding out even vague hope since it is pretty clear that Chandan could not raise the resources in any case.
The third alternative is hypothetical. In the absence of financial resources, Kailash’s venture is not a genuine opportunity for Chandan. For instance, real opportunity for a student is an examination which can advance his career.
The last option is unrealistic. It is typical of Micawber, a character Charles Dickens created in one of his novels. Micawber always hoped for the best and believed that things would work out to his advantage. This may not happen often in life.