Priya Nazareth, Directing Monsher India Safety Equipements Pvt. Ltd. On its Pursuit to Deliver Four Decades of Unceasing Perfection
“Success is not final. Failure is not fatal. It is the courage to continue that counts.”-Winston Churchill
In India, Priya Nazareth, Director, Monsher India Safety Equipments personifies this quote which is also one of her favourites, as her security company continues to spearheadwith a legacy and stability dating back over 45 years. What started with humble beginnings, today operates as a preferred manufacturer, systems integrator, and after-sales service provider to the biggest and most-valuable facilities around the country.
Monsher has established itself with world-class UL, FM, LPCB, VDS and ISI products from its global manufacturing expertise with its manufacturing plants in Mumbai, Rajkot and joint ventures in Korea, UK and Australia. In India, Monsher enjoys its position as fire safety products leader while its team works from offices and storage logistic centres across all major cities like New Delhi and NCR, Mumbai, Pune, Hyderabad, Kochi, Chennai, and Bangalore. The company’s ability to system integrate and turnkey contracting has won the brand some of the largest and tallest infrastructure development projects in and around the country.
With a background of a business family, the ever-creative and goal-oriented Priya pursued graphic designing professionally before starting her business. Priya incepted her entrepreneurial pursuit post her marriage, on her husband’s suggestion to start a products division for the already existing company run by him, Monsher Products Company back in 2003. In her interview with The CEO Magazine, Priya unveiled various aspects of her journey with Monsher India:
The CEO: In this journey of being your boss, what have been your make or break moments?
Priya: I believe, there have been many make or break moments and there will always be. It is an integral part of running a company. While being appreciated for our solutions remarks as a positive moment in our journey, it is not limited to collaborations and joint ventures with best companies internationally but is in every positive experience which motivates us.
Similarly, there are moments as we are in the commodity business with the cut-throat competition but that keeps us on the toes and we take that too on a positive stride.
The CEO: What are the distinct solutions your brand offers and who is your target audience?
Priya: From a product and delivery standpoint, we are best in class from international approvals, global manufacturing to serve a wide range of geographies and customer-oriented approach. Our target audience is inclusive of residential tower or infrastructure projects like metro and airports, commercial factories, plants refineries, and commercial IT, and malls which we offer to our target buyers i.e. government bodies, MEP consultants, real estate and infrastructure companies etc.
The CEO: In this competitive business ecosystem, how do you build a successful customer base?
Priya:I believe, customers are the lifeblood of any business, so it’s vital to keep generating leads and retaining the existing customers. We focus on knowing our prospects and customers and service them to the fullest; dividing our time- supporting existing clients and looking for new work; offering great customer service; looking for partnerships with other businesses as per market demands, making use of social media, playing to our strengths and make any eye on the competition; and evaluating what works for us.
The CEO: 2020 has witnessed a rough start and many derailed businesses, what are the challenges you are facing and how do you aim to overcome them?
Priya: I believe, 2020 has been an extremely challenging year for every industry leave alone the real estate industry. The real estate industry was going through a rough patch even before the pandemic, still we have learnt many lessons including finding the most effective use of technology in these times and becoming very flexible as people and as a company.
We have witnessed challenges of sales targets, dollar rise, and uncertainties in regular work methods or incoming funds and we are very positive that in the coming times we will emerge stronger, better and successful. The only way we are facing this situation is that we are hanging in there positively with a dream for a better tomorrow. This too shall pass.
The CEO: How are you strategizing your company’s business model shortly aligning with the latest technological trends?
Priya: Over the next few years, we have many plans in the closet including cross-selling more products, introducing more innovative products in the field of fire and safety, targeting to grow sales from new products, and adding more pan India offices and warehousing facilities.
While improving customer service is an integral part, we plan to use technological advantage for our business, an area not completely explored in our industry yet. We aim to improve customer retention and sustainability whilst being one of the pioneering on e-commerce platforms with our fire safety kit for homes.
The CEO: What are the core values you ensure are followed by the team?
Priya: The core values of the Monsher India team is that we are challengers, passionate about our work, visualise BIG and start small, generous givers & not self-serving takers, do a lot more by doing less, better and faster, and growth and learning are in our DNA.
The CEO: Being at a successful position, what are your thoughts about a diverse workforce in top-level management teams?
Priya: I am a robust believer in diversity, be it in the way of thinking, kind of people or method of working. We are one of the very few companies in India which recruit employees who are differently-abled and offer flexibility and support systems in integrating them as a successful part of our company.
Increasing workforce diversity at any level has many benefits including creativity, innovation, positive reputation as having different perspectives at your business can increase your creativity and allow people to positively collaborate. This collaboration could bring additional innovation and the ability for your business to stay ahead in these changing times along with encouraging positive public reputation and creating more devoted brand fans.
The CEO: What do you believe are the most important things to progress in a leadership position? What drives you?
Priya: I believe, the most important things to progress in leadership are to make others feel safe to speak up, take calculated risks, communicate expectations, challenge people to think, be accountable to others, lead by example, measure & reward performance, provide continuous feedback, invest in relationships, celebrate small achievements, occasional activities to increase the productivity of employees, and passion to work and loving what I do drives me the most.
The CEO: How do you define success? Who do you credit your success the most to?
Priya: There are many definitions for success. But, for me, success is knowing that what you are doing is helping you and others lead a better, happier, and healthier life. I credit my success to my people who work for my organisation starting from the peon or driver up to the CEO. I believe good and committed people are a company’s biggest strength.
The CEO: Kindly share about your achievements you are most proud of.
Priya: Apart from standing strong for the past 45 years whilst maintaining growth and profitability, we have been innovative as we have been the first in the industry to receive international approvals on many of our products.
We have been early-stage investors in many global companies related to our business with global manufacturing capabilities all integrated into a single brand Monsher and leaders in vertical fire protection having completed the maximum structures over 50 stores in India. With our manufacturing, we also offer distribution EPC contracting, and a full-service monitoring team fully integrated through the entire chain.
The CEO: What is your vision for the future of the company?
Priya: My vision for Monsher is to make it India’s largest company serving in the field of fire & security industry, as well as a one-stop-shop for all quality product needs related to fire and security in various verticals including industrial, residential, commercial projects, and individual home requirements for safety.
The CEO: What is your message for the aspiring women entrepreneurs?
Priya: To all aspiring women entrepreneurs, I would like to share a quote by Sophia Amoruso, founder of Nasty Gal, “In whatever you do, you’re not going to stand out unless you think big and have truly original ideas. That comes from tapping into your creativity, not obsessing over what everyone else is doing.”