SUCCESS in business is not measured by profits alone.
For Meridian Store managing director Champak Lal Dayaram, the real measure of success lies in the relationships a business builds with its customers, employees, landowners and the wider community.
Speaking about what has enabled the family business to stand the test of time, Mr Dayaram was quick to dismiss the idea that there was a hidden formula.
“There is no secret,” he said.
“The key is commitment. You have to be committed to your business, whether times are good or bad.”
He said many people entered business with the expectation of making quick money, but lasting success required patience, sacrifice and consistency.
“There is no such thing as becoming an overnight millionaire. That doesn’t happen. It’s usually the fastest way to fail.”
Instead, he believes business owners should focus on serving people and earning their trust over many years.
“You have to look after your customers. It’s as simple as that.
“You provide the best service possible, but you don’t just keep customers, you build relationships with them. That is why they keep coming back.”
For Mr Dayaram, a customer is more than someone who walks into a shop to make a purchase. He said customers become part of a business’s history, and over time, many become like extended family.
“We’ve built strong relationships with people here over many generations.
“It’s not just because we’ve been here for a long time.
“We treat our customers as part of our extended family.
“We grew up with them. We’ve seen the older generation pass on, but we continue to have strong relationships with their children and grandchildren.”
He said many customers who visit the business today are descendants of people who shopped there decades ago.
That continuity, he said, is something money cannot buy.
“The goal shouldn’t just be to make money and leave.
“The real secret is maintaining good relationships with your customers and the people you work with.”
Mr Dayaram said those relationships extend beyond customers.
They also include employees, suppliers, transport operators and the traditional landowners on whose land the business operates.
He said maintaining mutual respect with the iTaukei landowners had been an important part of the business’s journey.
“It may have started as a temporary setup, but over the years we built strong relationships, including with the iTaukei landowners.”
He said every relationship required honesty, respect and understanding.
“There are always ups and downs, but if you want to run a successful business, you need to stay focused and committed.
“You also need to love what you do.”
He believes passion is another quality that separates businesses that survive from those that disappear after only a few years.
“If you don’t love what you do, people will notice. You have to enjoy serving people because business is really about people.”
He said one of the greatest mistakes business owners could make was judging customers by their appearance or financial situation.
“The important thing is to have good relationships with everyone.
“You don’t judge people by their race, religion or financial status.”
He said some customers arrived with very little money, but they deserved exactly the same respect as everyone else.
“Some customers may have very little, but we never treat them differently.
“They are all equally important to us.”
According to Mr Dayaram, treating every customer equally builds confidence within a community.
People remember how they are treated long after they have left a shop.
“They remember kindness. “They remember respect.
“Those are the things that bring people back.” He said another important lesson was remaining committed during difficult economic periods.
Every business experiences challenges, whether through changing markets, natural disasters or economic uncertainty.
However, commitment allows businesses to overcome those difficult periods.
“You have to stay focused.
“There will always be difficult times.
“If you stay committed and continue serving your customers, they will continue supporting you.”
He said trust was something that could not be built overnight.
Instead, it develops gradually through honesty, reliability and consistent service.
He said business owners should never lose sight of the people who support them.
“Our customers are the reason we are here.
“If you look after them, they will look after you.”
For him, business has never simply been about selling products.
It has always been about building lasting relationships that continue from one generation to the next.
Those relationships, he said, remain the strongest foundation any business can have.
