Note the Story

It all began one beautiful evening as my friend Iyyappan and I were walking near a serene lake in our beautiful village talking and enjoying the moment. As we strolled, we ran into one of our friends, who showed us a card he was holding. Curious, we asked him about it. He explained that it was a chit fund card, and he used to pay money to the chit fund owner either daily or weekly. The card had around 100 squares, and each square represented a payment. Some of the squares had been signed by the chit fund owner, acknowledging the money received. The total chit fund amount was Rs.100, as indicated at the top of the card.

The concept fascinated us. We started discussing how this chit fund worked, and our initial thought was to join it as members. That evening, as we sat outside our home, chatting as usual, the topic of the chit fund resurfaced. After some discussion, I asked Iyyappan, “Why don’t we start our own chit fund instead?” At the age of 14, while most of my friends were focused on school and play, we found ourself intrigued by the idea of running a business. Growing up in Mahadhanapuram, a small village near Kanyakumari, entrepreneurship was part of our everyday lives. Most of the people in our village were farmers or small shop owners, working hard to support their families. I always admired their determination and creativity in finding ways to make a living, which left a strong impression on me from a young age.

Gaining the Trust of Our Community
This is how Raghavendra Chit Fundwas born. Targeting students and housewives in our village, we designed a simple system where our customers would contribute one or two rupees daily. We quickly gained over 100 customers. Word spread fast, and we built a small yet trustworthy network of people who relied on us to save for their daily needs. who saw this as a convenient way to save up for everyday needs like books, household items, or groceries.

Financial Management Without Knowing It At the end of each day, Iyyappan and I would count our collections and deposit the money into the post office. It felt like the safest place to keep our savings secure. We didn’t stop there, though. Occasionally, we’d lend some of our collected funds to adults in our village, charging them a small interest. We had no formal knowledge of financial management at the time, but in hindsight, we were effectively compounding our money—growing it steadily through saving and lending. We didn’t realize it back then, but we were building the foundations of basic financial literacy through this hands-on experience.

A Funny Secret Among Housewives
One of the most interesting and amusing parts of our business was working with the housewives. Many of them would save money with us secretly, without their husbands’ knowledge. They were determined to have their own savings for emergencies or personal needs, and we became their trusted confidants. Of course, this secrecy sometimes led to funny situations. I remember one instance when a husband came to know about his wife’s secret savings. He showed up angrily at our place, demanding an explanation! We stood there nervously, but then the wife stepped in and firmly explained to her husband that it was her money and she had every right to save it. We couldn’t help but smile at the confidence with which she handled the situation. After some initial grumbling, the husband eventually accepted the truth and left. From that day onward, he started teasing us, calling us his wife’s “secret bankers.”There were a few more similar incidents, but we learned how to handle such situations with humor and tact, becoming quite popular with the housewives in the village.
Navigating Challenges with Determination Of course, it wasn’t always smooth sailing. One day, a group of students from a nearby school hadn’t paid their daily contributions for almost a week. Iyyappan and I were worried but decided to confront the situation directly. We gathered the group and asked why they had stopped paying. It turned out that a school trip had been planned, and the students were saving up for it. Instead of being upset, we understood their situation and proposed that they continue their contributions after the trip.

This flexibility turned out to be one of the reasons why people trusted us. We weren’t just running a business; we were building relationships based on understanding and mutual respect. The students came back after the trip, resumed their payments, and even brought in a few more friends to join the fund.

An Early End: Pressure from Parents We ran the business for one and half years, helping many of our customers meet their small financial goals. But as our customer base grew, so did the concerns of our parents. They began to worry that we were becoming too focused on the business and would lose interest in our studies. My parents, in particular, feared that if we continued down this path, we would make the chit fund our full-time endeavor and neglect our education.

I still remember the conversations that led to the end of our business. My father sat me down and said, “You’ve learned a lot, but your studies come first. If you keep going like this, you might lose sight of what’s important.” After a series of arguments and growing pressure from our families, Iyyappan and I decided to shut the business down for good.

After settling all customer accounts, we were shocked to discover that we had more than Rs.5000 left as profit! We couldn’t believe that we had saved so much in such a short period, and that too without any initial investment.

Lessons that Lasted a Lifetime Running the chit fund taught me invaluable lessons in money management, trust, and responsibility. Every day, Iyyappan and I would go door-to-door collecting payments. We had to stay organized, track everyone’s contributions, and ensure that payouts were fair and timely. Even though we faced challenges, such as missed payments or customers in financial trouble, we managed these situations with patience and transparency.

Lessons That Shaped My Future Looking back, Raghavendra Chit Fund wasn’t just a small business—it was a platform for learning about leadership, trust, and the power of community. We learned to manage money, handle responsibility, and communicate effectively with our customers. Even though we stopped the chit fund, the lessons it taught me about entrepreneurship and people stayed with me for life.

Starting something as simple as a chit fund at 14 showed me that even with limited resources, you can make a meaningful impact if you understand the needs of your community. I’ll never forget how small contributions—just one or two rupees a day—could help people achieve their goals, whether it was buying school supplies, household goods, or simply saving for the future. And the fact that we managed to grow our money without realizing it makes me even more proud of what we accomplished.

We realized that, deep down, we had the spirit of businessmen within us. But after completing our studies, we took the safer route of becoming salaried employees. Still, that experience never left us. We hope that one day, we’ll be able to start our own business, and perhaps even become successful entrepreneurs. The years may have passed, but our belief in ourselves and our desire to start our own venture in the future has never faded.

A Message to Aspiring Entrepreneurs
If you’re currently working a salaried job but dream of becoming an entrepreneur, don’t let that dream fade. I, too, followed the path of stability, but the passion for business always remained within me. Your job is not a limitation; it’s a stepping stone. Use the time to learn, save, and plan. Every challenge you face today is a lesson for your future venture. The most important thing is to keep believing in yourself, no matter how many years pass. Your journey may take time, but with determination and persistence, you can achieve your entrepreneurial dream. It’s never too late to start!