Categories
Startup

11 strategies to increase Employee Productivity

बिजनेस टिप्स
बिजनेस टिप्स
Improving employee productivity
is one of the most important objectives for every organization. Higher productivity leads to the economic growth, profitability and better social development. In Addition, employees who are more productive get better growth opportunities.
 
They stay longer and find meaningful work. Moreover, higher employee productivity tends to maximize organizational competitive advantage through cost reductions and improvement in top quality of output. 
The most critical and obvious way to start with is to set the right goals for the employee; make sure that the objectives are SMART – Specific, Measurable, Attainable, Realistic, and Timely and are in-line with the employee’s skill set. 
1. Give people a purpose larger than themselves
’ When employees have a purpose that is larger than themselves, they will be self-motivated to deliver more. The purpose has to be established by the leader of the company or leaders in the company. The greatest organizations in the world are the one’s that have clarity of purpose.
Framework: Help employees answer ’why’, ’what’ and ’how’?
Why are they being asked to do what they have been asked to do?
What is their role and how is it going to impact their future growth within the company and in the larger working ecosystem?
How does the company work and what is expected of the employee?

2. Communicate Effectively
’ Transparency is the best key for effective communication; clearer the communication, the more productive the employee will be. Encourage your employees to have phone calls and quick meetings; this reduces the time spent on other ineffective modes of communication. It will also help in team building as there is a personal connection in both these forms of communication.

3. Incentivize Employees
’ One of the best ways to motivate employees to be more productive is to actually give them a reason to do so. Appreciate and encourage your employees to increase their productivity.
4. Train and Develop Employees
’ Helping the employees to expand their skills will build much more advanced workplace, which will benefit your company in the long run and improve efficiency and employee productivity.
5. Include psychological hint to boost employee productivity
– Psychology has shown that the things that surround an employee could affect his or her mental state. These cues can help the employees in increase their focus. Among the elements that a company can incorporate include: Music, Plants, and Lighting etc.
6. Encourage employees to help each other
– Human beings are social animals and the natural inclination is towards helping others. Collaboration takes multiple methodologies, including brainstorming, cross-document collaboration, or picking up projects where other employees get stranded. Additionally, this sort of partnership fosters teamwork and a more united attitude towards the job.
Organisations can use team collaboration apps like Slack, Whatsapp groups, Facebook for work to increase employee collaboration across the department.
7. Give frequent and timely feedback
– When an employee achieves something, give him or her that recognition. Always consider giving a reward for employee service that exceeds expectations. Even negative feedback helps because it ensures employees understand expectations. Ensure that the feedback is timely. Create a process-driven timely feedback loop.
Most global organisations use the 360 degree feedback process to ensure that employees gain the right feedback at the right time and from the right person. Today a lot of companies also share feedback within peer groups. This also creates a lot of understanding within peers working together.
8. Be open to receiving feedback too
– Listen to your employees when they ask for better tools. Listen to their needs to ensure if they’re happy with the equipment or not. For better employee productivity, ensure each person is in the right role for his or her needs and skills.
9. Offer workers the tools they require
– Modern workplaces can provide a wide array of the necessary equipment to get work done. Keeping these assets up to date ensures that employees can get the job done when they need to. 
10. Make achievements public and celebrate them
– Celebrating achievements offers employees the chance to enjoy the fruits of their labor in the short term. The achievement might not be an essential goal, but it does constitute a milestone. 
11. Build a culture of efficiency
– If you’re going to increase the employee productivity in your workplace, you need to build a culture that supports efficiency, hard work, and focus.
Many organisations move their senior employees across several departments every year. So every key employee has a taste of each department and knows what it takes to grow the company. You can also create a culture of inter-team understanding. This will help your organization thrive through tough and good times.
Some employees when given the opportunity can also find new portfolios of work where they might be able to use their skill sets more.
Employee Productivity is an outcome of how they are being treated at their organization, are they aligned with their work, are they being heard, does their feedback matter? 
Organizations need to increase their focus on making the workplace more employee-friendly to ensure the best and productive results. Discovering these root causes can help exposing the path to maximum the employee productivity.
Categories
Process & Business Expansion

Business Continuity Plan during Corona virus lock down

Business Continuity Plan during Corona virus lock down
Business Continuity Plan during Corona virus lock down

“is your business falling due to Coronavirus Outbreak?”

Coronavirus Lockdown in India has changed the way businesses think and operate. Planning for operational flexibility is of extreme importance during such a global crisis. Here are 5 key steps that can help you create a Business Continuity Plan during Coronavirus and create strategies and a framework to face such disasters.

1. Know your key Business products or Services

As an Entrepreneur/Business Owner you should rank your business priorities in order of importance. For e.g.

  • Which area of business contributes most to the revenue?
  • Devise a plan of these critical activities and distribute responsibilities to employees on how will these critical functions be managed during Corona Virus Lockdown
  • Analyze how long can you continue with the existing resources. Look into cash flow management and financial implications.

2. How to reduce the negative impact of COVID-19

  • Your Business Continuity Plan during Coronavirus outbreak has to revolve around the people and your stakeholders
  • Protect the health of staff
  • Develop a communication strategy for employees, customers, and suppliers
  • Create a Standard Operating Procedure Guideline so that efficiency is maintained and core functions are carried out smoothly
  • Create a CoronaVirus Outbreak Team that will look into critical functions and will ensure the protection of employees with their preparedness
  • Consider flexible working options- remote working, work from home, alternate working days

 

BUSINESS CONTINUITY DURING Coronavirus OUTBREAK

Teamwork is essential. It will improve coordination and increase productivity. Show you care for the employee and everyone will work towards achieving the goal

3. Supply Chain Management during Coronavirus Outbreak
  • Identify operational and revenue impact
  • Check on feasibility of sourcing goods from other suppliers or perhaps multiple suppliers
  • Make sure that your supplier also has a Business Continuity Plan during Coronavirus in place.
4. Alter your product/value offerings
  • Since direct customer contact will not be possible during Coronavirus lockdown, it is wise to modify you product offerings to match what the consumer wants during this time.
  • For E.g. some businesses can look at digital offerings during COVID-19 lockdown or you can also divert existing employees from a dormant function to the customer service vertical to keep the customer satisfied by offering them better service during Coronavirus Lockdown in India.
  • In this way you might be able to retain existing customers and can utilize the workforce effectively.
5. Communicate and Prepare for the future
  • Devise clear communication strategies for internal employees and for external stakeholders
  • With a slowdown due to Coronavirus outbreak in India and across the globe, utilize the time to think about the future and how to make up for this slump
  • Periodically review your plan and amend if need be according to the external situation
  • Self-learning is a continuous process, hence learn from the challenges thrown at you
  • The Coronavirus outbreak will prepare us for the next global epidemic or slowdown, if it happens.

These 5 steps will help you prepare a Business Continuity Plan for your organization and help fight through the Coronavirus Lockdown. Insights, tools and structured business processes will help entrepreneurs and their businesses geared for pandemic planning.

Categories
Motivation & Mind Control

Learn How to Change Bad Habits

Introduction

  • How to change bad habits?
  • How to adopt good habits?

We keep on doing some kind of nonsensical things that we know, we shouldn’t do; but, we are still doing them.

Any person who is addicted to alcohol, cigarette, illicit sex, gambling, etc. he knows that he is doing something wrong.

When he is absolutely addicted to it, he regrets for the day when he has started it.

Now, if he wants to leave that, how he will do it?

Bhagavad Gita discusses in detail how to change bad habits.

Lesson from Bhagavad Gita on Changing Bad Habits 

Bhagavad Gita is a book not on information; it’s a book on complete transformation.

Go to Google, if you want information and Go to Bhagavad Gita, if you want transformation.
In Chapter 3 Verse 41 of Bhagavad Gita, Arjuna is asking a question: 
’My Lord, why do we have these nonsensical habits? I don’t want to get involve into a wrong misdeed, a wrong activity but still, I do it. I don’t know who motivates me to do all these wrong things.’
Arjuna wanted to know how to change bad habits.
So, Krishna answered:

?????????????????????????? ?????? ???????
|

???????? ?????? ?????? ??????????????????
||

With the help of this Shloka, Lord Krishna has suggested ways to change habits.

The Shloka means:

  • We all got five senses. We should control these five senses and regulate them in the beginning for changing bad habits.
  • We need to check at the entry gates and don’t allow unwanted persons, thought desire, or association to get into our lives.  
  • If you do not control these senses, the negativities around you will be so powerful that they will uproot all your knowledge and wisdom. And, you will end up doing the wrong things even if you don’t want to do them.

The understanding of the above Shloka is:

If you control on the kind of association you have, i.e. the books you read, the movies you watch, the television programs you see, the friends you keep, or whatever the association you are around, you will be able to change your habits.

How to Change Habits?

One of the ways to change habits is to regulate the kind of programs that you watch on television. 

For example:

  • If you watch programs which are about illicit sex and pornographies, you will get into such things.
  • Some daily soaps or serials are given in such a way wherein Indian wives are trained to hop into multiple beds and peeping into somebody else’s house to know what’s happening in their houses.

Garbage in, garbage outGood in, good outPositivity in, positivity outNegativity in, negativity out

If you control the kind of association you are living in, you can influence upon your future automatically by creating good habits and actions.

Watch your thoughts, your thoughts become your words.Watch your words, your words become your actions.These actions will create your habits; habits will form your character, and that creates the destiny.

So, everything starts with thoughts.

Where do these thoughts come from?

These thoughts get reinforced with the kinds of programs you watch.

So, create a good association in life.

Power of Habits

If you regulate your senses, you can regulate your actions.

When you regulate your actions, you can regulate your habits.

When you regulate your habits, you regulate your character and destiny automatically goes up.

So, this is the power of habits. Your habits can change your destiny.

For example:

  • Chanakya Pandit has trained Chandragupta Maurya into principle-centered, character-centered, and morality centered habits.
  • Chanakya Pandit cultivated a global leader out of Chandragupta Maurya, son of Mura (Mother). He created a dynasty called Maurya.

People say:

Jo Jeeta Wahi Sikander

But, we say:

Jo Jeeta; Wahi Chandragupta Maurya
This is because Chandragupta Maurya had uprooted the entire dynasty of Sikander. They did not allow foreign invaders to enter our country based on one thing, i.e. power of habits.
A principle-centred, character-centred leader in an organization goes a long way.

Categories
Process & Business Expansion

How to win a tender

Introduction

  • Do you lose tenders most of the time?
  • Do you want to know how to win a tender?

Tendering is a process to make your business big, wherein you respond to a company’s tender, expressing your expertise and willingness to work for them.

In this process, a company, government or private, invite contractors through an official channel mentioning their requirement pertaining to a project.

It is followed by an application filed by many contractors for a project.  After analyzing the expertise and cost of contractors, the company chooses the most cost-effective and qualified vendor.

To know how to win a tender, you need to first understand the different types of tendering.

Types of Tendering

Open Tendering
 

In this, a tender is published in public domain like newspaper, tendering portal, in which anybody can come and participate.

The biggest benefit of Open Tendering can be summarized as;

’????? ?????? Choice, ?? ???? Negotiate ?? ???? ???’

Advantages of open tendering:

?  Wide variety of applications

?  More choice and more chances of negotiating

?  No favoritism

?  Newcomers can also participate

Disadvantages of open tendering:

?  Long Complicated Process

?  Time-consuming

?  Money consuming

Negotiated/Selective Tendering

In this, only a few selective vendors are invited for negotiation who are experienced and industry experts.

Advantages of negotiated/selective tendering:

?  Less time consuming

?  Less money and energy spent

?  Industry experts

Disadvantages of negotiated/selective tendering:

? No opportunity for new entrants

? High Favoritism

? Less negotiation power

10 Tips to Win a Tender

Tip #1: NICE Analysis

It is one of the tips to win a tender.

Before filling a tender, you need to analyze your strength and expertise that whether you are able to satisfy the Need, Interest, Concern, and Expectation (NICE) of a contractor.

If you are unable to satisfy the need of contractor then it’s better to don’t fill the tender.

?

Tip #2: Verify the Information

To know how to win a tender, after filling the tender form, cross-check it several times with others to ensure that there is no wrong information, which may lead to your disqualification.

Make sure that it is written in clear language and writing, along with required documents. Send the tender through the proper channel in which it was invited.

That is, you must adopt the below-given process;

’Check ’ Re-check ’ Double Check ’ Cross Check’

Tip #3: Client-Focused Compelling Story

While preparing your proposal, you must know how to win a tender that doesn’t miss leave even a single chance for your competitors. 

You have to try to include compelling exciting stories of your clients. Portray how you changed the business of your clients through your efforts to get a humanistic advantage over others.

Don’t just tell how good you are. Tell them nerve touching stories of your clients to strike the right chord of people.

Tip #4: Relationship Can Amplify Your Possibility of Success

No matter what business you are doing, a good relationship always helps in knowing more about your client.

This creates a better understanding and helps in getting tender.

A good relationship creates trust and makes decision making fast.

It is also one of the tips to win a tender.

Tip #5: Secure Your Gross Margin

Sometimes in the quest of getting a tender, you adopt under-cutting and end up making a very low priced bid.

This creates problems in delivery and you adopt unethical practices that hurt your margin adversely. 

It is also one of the tips to win a tender.

Tip #6: Don’t Be Afraid to Ask

To know how to win a tender, you need to understand the tender process effectively.

If you are unable to understand the tender process properly don’t hesitate to ask questions from company representatives.

Make calls or send emails given on tender information to make everything clear before filling a tender that will help you get better results.

Tip #7: Collaborating for a Stronger Big

When you realize that you do not have the required expertise for a particular tender, then instead of losing the tender, you can hire a super-specialist as a sub-contractor.

Though it will reduce your profit share, but something is always better than nothing.

Tip #8: Excellent Presentation

Complicated information always reduces your chances of getting a tender. Therefore,

  • Make your presentation as simple and attractive as you can.
  • Use excellent graphical representation
  • Use sequencing and coherent theme
  • Use the simple and clear congruent message
  • Use to convey a single signal, not mixed-signal

The simpler your presentation will be, the more chances of getting a tender will be.

It is one of the tips to win a tender.

Tip #9: Innovate and Add Value by Focusing on Customer’s Money Making Model

While making your tender proposal, try to understand the money-making model of your customer, that how can you add a distinct value proposition in his business.

Mention how you are going to multiply their business as it helps you grab your customer’s attention.

What will make you ’Standout’, Will also make you ’Outstanding’.

Tip #10: Don’t’ Lose Faith

At last, even if you don’t get a tender after putting a lot of effort, don’t sit back, only step back, to bounce back.

  • Even if you fail, don’t worry and start preparing for the next bid with your team.
  • Try to get feedback from a lost tender and make it feedforward.

Implement these 10 tips to win a tender today itself to convert your Tender Business into a Recurring Revenue Model.

Categories
Motivation & Mind Control

How to Save Yourself from Negative Brainwashing

Introduction

  • Do you know that you are being brainwashed?
  • Are you being carried away from your Goal Statement?
  • Do you want to know how to save yourself from negative brainwashing?

Today, there is a lot of negative brainwashing being done at different levels. Political, Social, Family, Peer brainwashing.

Advertising and media industry is using various mediums like advertisements, social media, print and electronic media spend a lot of money to brainwash the minds of people by creatively and intelligently capturing the minds of the people.

They use hidden commands to create space in our minds so that we unconsciously drive the conscious mind to take decisions.

How does Brainwashing work to Influence Your Behavior?

Buying behavior is not influenced logically; it is influenced emotionally.

So, brainwashers use your emotions to brainwash your mind. Most of the political brainwashers use this type of brainwashing.

For Example

In election campaigns, some incompetent political leaders brainwash people in the name of religion and caste to get votes. They even win the elections because they get emotionally connected with people.

’Brainwashers destroy your logical, rational thinking, problem-solving and critical thinking ability; so that you get emotionally driven and take decisions.’
 

  • Are you doing your negative brainwashing consciously? or,
  • Are you doing your negative brainwashing unconsciously under the effect of some external factors?

If you don’t have your personal goal statement, then you get driven by other’s goal statement and run behind them, because they can brainwash you easily.

Various people are washing your brain like your social circle, family, and peers. They wash your brain and destroy your dreams.

? Do not let the wrong person wash your brain.

? You should wash your brain yourself and consciously.

How Does Mind Works?
 

To know how to save yourself from negative brainwashing, you should first know how your mind actually works.

Your brain is divided into 3 parts:
Conscious mind, Sub-conscious mind, and Unconscious mind.

The subconscious mind and conscious mind gets data from our five senses ’ eyes, nose, ear, skin, and tongue.

When required, our conscious mind searches data from our sub-conscious mind and unconscious mind and take actions accordingly.

Sometimes, our conscious mind does not find relevant data. In such a scenario, sub-conscious and unconscious mind drives the conscious mind and the conscious mind becomes helpless.

So you need to protect your conscious mind by getting driven by the external environment outside your Goal Statement.

How Subconscious Mind Drive Your Decisions?

Our subconscious mind is always on a permanent recording mode. This means that it will capture each and everything it is exposed to.

The media is creating repeated messages so that it gets captured and stored in our subconscious mind. These stored messages compel you to extract data from the sub-conscious mind. This is how your decision gets influenced. Such messages may also lead to negative brainwashing. 

Types of Advertisements Used to Brainwash the Minds of People

?

Trinity Surrogate Advertisement

In this type of advertisement, a banned product is advertised using the same brand name but with a different product.
Covert Advertisement

In the covert advertisement, the advertisers repeat the subliminal images, again and again, to register the brand in your mind.
Puffery in Advertisement

Puffery is the exaggerating and bold statements made in the advertisements. These statements are:

? Subjective

? Lacks logic

? Cannot be measured

They seem to give big results and create a false sense of urgency and compulsion in the customer’s mind. They touch people emotionally.

For Example

Alcohol is a banned product. So, alcohol companies manufacture products like mineral water or soda bottle and give it the name of the alcohol brand. In this way, they register their brand name in the minds of the customers.

Brainwashing has become an essential thing. So, it is better to decide from where you should get brainwashed. If you do brainwashing consciously, then you will be in a better position.

Emotion is New Logic; Logic is no more a Logic

Rational is no longer a rational; Emotion has become the new rational

How to Save Yourself from Brainwashing?

Below are some of the methods that can help you to save yourself from negative brainwashing.

1. As per Chapter 2, Verse 70 of Bhagavad Gita:


?p?ryam??am achala-prati?h?ha?

samudram ?pa? pravi?hanti yadvat

tadvat k?m? ya? pravi?hanti sarve

sa ?h?ntim ?pnoti na k?ma-k?m?

It means rivers keep entering the ocean continuously since time immemorial but the ocean is stable and calm.

Similarly, wishes and thoughts continuously enter the sub-conscious mind of people but the conscious mind should consciously select the right option for it and take the correct action that helps it in achieving the goal statement.

? Do not live your life unconsciously.

? Take correct actions consciously.

It is one of the tips on how to save yourself from negative brainwashing. 

2. Select the useful content at the gate of your sense organs and reject the useless content.

3. Write your obsession goal statement or purpose statement for the next three months.

Adopt the RiSiMiS (Ri = Ritual; Si = Sixty; Mi = Minute; and S = Solitude – Ritual of Sixty Minute Solitude) formula. It means that takes out 60 minutes for yourself in a day and prepare Weekly RiSiMiS calendar for yourself (given in the table below).

It is another tip to how to save yourself from negative brainwashing.

By adopting the above-mentioned techniques you can certainly save yourself from negative brainwashing.

Categories
Motivation & Mind Control

How to Build a Process-Oriented Organization

स्मार्टफोन
स्मार्टफोन

?Introduction

  • Do you have a Standard Operating Procedure in your business?
  • Do you want to build a process-oriented organization?

Usually, there are two types of business – ’Personality-oriented’ and ’Process-oriented’ organization.

Difference between Personality-Oriented and Process-Oriented Organization

Personality-Oriented Organization

 Process-Oriented Organization
If one person is there, the business will be great; else in his absence, things will just not work properly. A business runs on the basis of set standard operating procedures, regardless of whether the owner is present or not.
All small food courts are personality-driven business where the starter needs to be present for giving the best service or food. QSRs like burger king and Mc. Donald’s are very good examples of a Process-driven business.
There is a risk of knowledge loss because everything is not well written and well-formatted so it remains in the minds of people who are an expert.

Here, you have a written manual which can be transferred to whosoever comes, you can give them the manual and ask them to read it and work accordingly.
The person could destroy your company, join the other competitor or himself become one. Your training cost minimizes and with regular tests your new guy is ready and expert.
You need to have a process-oriented organization if you are looking for expansion.
So, now what should be done to get this?
The easiest way is to develop SOPs in every department.
Now, what is SOP? It means Standard Operating Procedure.
Advantages of SOP
1. Scaling up the Business
It leads to fast expansion. Take an example that if you have a shop in Delhi and want to expand it to the other cities of Rajasthan then what you have to do is create an SOP and send it to the other branches.
All of them will follow the same procedure that you are following.
It is one of the benefits of a process-based organization. 
2. Efficiency
Standard Operating Procedure also ’increases the efficiency’
of the company, by ’streamlining the whole process’
in a sequence.
It is another benefit of the process-based organization. 
3. Quality
The quality increases and becomes consistent. That is because all of the branches have the same procedure, the parameters are the same, so it keeps the quality as it is.
It is the third benefit of the process-based organization. 
4. Uniformity in Performance
It is the fourth benefit of the process-based organization. 
The performance will have uniformity. The outcome will always be the same and it will be repeated over and over again.
5. Miscommunication will Minimize
It is one of the benefits of a process-based organization. 
The problems that would be leading to miscommunication will reduce and it will significantly minimize the failure.
You should always make SOPs of execution and not of strategies.

Convert Personality-oriented Organization to Process-oriented Organization

Now let’s see the steps to convert your ’personality-oriented’ organization into a ’process-oriented’ organization.
Step #1: Identify the Problem for which you need the Process
It is the first step to process-oriented organizations.
Now first and the foremost thing you need to do is to ’identify the problem that is facing frequent critics, quality issues, productivity problems, outcome issues, calculation issues, accounting, and sales problem’
so that you can stop them from happening again.
Step #2: Build the Process Boundary
It is the second step to process-oriented organizations.
What does this mean? Make a start point and an endpoint for this. And once you are clear with this, the next step will include the input and final output.
It means you will have to see what all things are going to be included between the first and the last point.
Step #3: Brainstorm Around all the Activities with your Team
After the completion of the first two steps, the next step to process-oriented organization is to you will have to ’brainstorm all the activities with your team’ and the first thing in this is to ’arrange everything in a sequence’ and then see where the manpower is needed.
Step #4: Put Process Role in a Flowchart for the Integrated Review
There are three things that you need to be very careful about this. And that is process role, flowchart, and an integrated review. Now, when you know what is everybody’s role arrange them in an assembly and let them know how to go for it.
It is the fourth step to process-oriented organizations.
As an example, in a car workshop, one team settles the chassis, the other does the vinyl, and others fit the headlamps and taillights. You have to work in the same fashion.
Step #5: Kill the Potential Problem in Advance with RACI Matrix
It is very obvious that at times you will have bad times where your products will face critics. So, to eliminate this you can pre-ready the RACI matrix.
It is the fifth step to process-oriented organizations.
RACI means: R = Responsible | A=Accountable| C=Consultant | I=Informed
All of them are connected to each other.
  • When the responsible person finds any problem he informs the accountable person
  • Then they go to the consultant who is the super-specialist
  • Then they inform the informed authority.

For Example

In a hotel, cleaning staff is the ’responsible’ people who keep things fine and cleaned. The ’accountable’ people are those who is the floor manager and who comes in to check everything. Then there is a ’specialist’ who gives the remedies to every problem that they face. And then the last stage includes ’informing’ the General Manager who is the head.

Building a hotel requires many departments so make various SOPs and then whenever a new person comes in, give it to them and your business will work just fine.
Categories
Powerful Personalities

Business Training by Dr. Vivek Bindra

Introduction

In the World Leadership Federation that held in Dubai on 23rd Feb 2017, Dr. Vivek Bindra gave Business Skills Training. In this article, some of the important points from this business training are discussed.

1. There may be some first movers in your industry but you have to become the fast mover of your industry.
It is one of the points discussed in the business training given by Dr. Vivek Bindra.

Example:
Nokia and Blackberry were the first movers but they were not the fast movers, i.e. they were not able to cope up with the changing market trends and customer needs. So, they have left the industry.

Similarly, Yahoo bought Hotmail from Sabeer Bhatia in the year 1997 while Google got Gmail in the year 2003. Google was not the first mover but it was the fast mover. As a result, Google replaced Yahoo from the market.

2. All the success stories in the world are stories of great failures. It is their ability to bounce back that has actually made them successful.

It is another point of business skills training given by Dr. Vivek Bindra.

Example:
Facebook has not become Facebook in the first time. It was started as a website named, Hot or Not, which failed. The owners of this site bounced back and created Facebook.

Similarly, YouTube didn’t become YouTube in the first time. It was an online dating website, which failed and its owners bounced back with YouTube.

When entrepreneurs face failures they fall down. But, you should not fall down, you should bounce back.

3. Leadership is an influence – nothing more, nothing less

It is one of the points discussed in the business skills training given by Dr. Vivek Bindra.

If you really want to develop a billion-dollar business, you need to remember four things, which are as follows:

Profitability:
Maintain your gross margins. People have not become millionaires by giving discounts. People grow in their business through competitive advantage.

Scalability:
Lots of organizations are able to manage profitability but they miss out scalability. You have to build scalable models through which you can train your employees and build high-performance teams. This team will help you to control your business and grow it.

Speed of transaction:
A lot of people take loans to start a business but their speed of transaction is so slow that their cash-debtor turnover ratio goes out. It means that cash inflow is less and cash outflow is more. Such people are not able to manage their cash and go out of business.

Competitive advantage:
It is one thing that can take your business to any height. Find out your unique signature strength and build a competitive advantage. Find out the Need, Interest, Concern, and Expectation (NICE) analysis of your client.

Do not try to do multiple things, focus on the main thing. Do not focus on the width, focus on the depth.  There is a saying: A man running behind two rabbits catches neither.  So, find out your competitive advantage.

People make their business bulky and not able to understand their competitive strength. They are not able to manage their gross margins. Such people kill their business. So, avoid this and identify your competitive advantage and work on it.

The above-mentioned points discussed in the business training given by Dr. Vivek Bindra will help you to take your business to new heights.

Categories
Business Case Studies

How to Make your Business Successful in 2025

?Introduction

  • Do you clearly know the purpose of your business?
  • Have you planned to make your business successful in the long term?

In this article, we will analyze the Vision, Mission, Objective, Strategy and Action Plan (VMOSA) of some well-known organizations like Tesla Motors, Microsoft, Facebook, Burger King, Google, etc.

We will also discuss VALUES i.e. What, Where, When, How and Why of the company.

We will give you very simple frameworks which you can easily apply in your company.

Numerous small and large entrepreneurs have been benefitted by implementing these frameworks in their organizations.

Some of the keys to a successful business are discussed as follows.

Vision and Mission

To make your business successful, you should have a clear vision and mission statement of your company.

People generally don’t know the difference between vision and mission. Let’s understand this.

Suppose you are at point A and want to reach point B, this projection is called Vision. It is generally five to ten years.

’Vision is where you want to reach and mission is why you want to reach there.’

Profit should not be a mission, it is an outcome. When you will focus on purpose i.e. your mission, then profitability is just an outcome.

Making money shouldn’t be the sole purpose of your company.

The problems of your customers which you will solve should be the purpose or mission of your company.

Vision and mission act as a motivating factor for your employees, which is crucial for a company’s success.

’You cannot see the vision with physical eyes but from the mental eyes’.

Vision and Mission are the keys to a successful business.

Objectives, Strategy, and Action Plan

Objectives, strategy, and action plan are the keys to a successful business.

What do you need to do to reach from point A to point B? This comes under objectives, strategy and action plan.

For this, you need to answer the following questions:

  • Where you want to go?
  • Why do you want to go?
  • What needs to be done to reach there?

Make your business successful by defining the objectives, strategy, and action plan of your company.

Values
How will you behave in this process is called values. It includes nature, belief system, and work culture of your company.

It is also one of the keys to a successful business.

To make your business successful, you need to define the values of your company.

For Example:

Jack Welch, the founder of GE Company, said, ’If any of our employees, irrespective of his/her performance, was not following the core values of our company, then he/she had to leave the company.’

Even Bill Gates does not hire the near-fit employees but perfect-fit employees who follow the value system of Microsoft.

This helps in forming a ’strong and deep-rooted organization’ with a clear sense of direction. Hence, clarity is power.

Vision and Mission Statement

Let’s have a look at some interesting Vision and Mission statements of a few companies.

Elon Musk’s Tesla Motors

VISION
– ’To create the most compelling car company of the 21st century by driving the world’s transition to electric vehicles.’

MISSION
– ’To accelerate the world’s transition to sustainable transport.’

There are 3 important components to it.

  • First, ’accelerate’ i.e. they will work with high speed.
  • Second, ’World’s transition’ i.e. shifting from diesel/petrol vehicles to cleaner alternatives.
  • Third, ’Sustainable transport’ i.e. using renewable sources of energy.

Microsoft

VISION
– ’To help individuals and businesses realize their full potential.’

Individuals and business – clearly identify their key customers i.e. both individual and business

Amazon

VISION
– ’To be Earth’s most customer-centric company where customers can find and discover anything they might want to buy online.’

MISSION
– ’We strive to offer our customers the lowest possible prices, the best available selection, and the utmost convenience.’

Here, Amazon wants to sell a wide range of products at the best possible price by providing due comfort to the customers.

Intel

VISION
– ’If it is smart and connected, it is best with Intel.’ Here, anything and everything which is smart and connected works best with Intel.

P&G

VISION
– ’Be & Be recognized as the best consumer products and Service Company around the world.’

Google

MISSION
– ’Organizing the world’s information.’

Google may say that they are the best search tool for the web but by their mission statement, it is very clear that they need to work on the back-end to organize the information for you.

Nike

MISSION
– ’To bring inspiration and innovation for every athlete in the world.’

Here, Nike cleared that its sole mission is to inspire and bring innovation so that every athlete can optimize their potential.

Hindustan Unilever Limited

MISSION
– ’To add vitality to life.’

We meet everyday needs for nutrition, hygiene and personal care with brands that help people feel good, look good and get more out of life.

It clearly states what they will offer and how it will help consumers gain vitality in their day to day life.

Burger King

MISSION
– ’Offer reasonably priced quality food, served quickly, in attractive and clean surroundings.’

In their mission statement, they focused on the core of customers’ needs i.e. price, quality, quick-service, and hygiene.

Facebook

MISSION
– ’To give people the power to share and make the world more open and connected.’

Here, Facebook wants to empower the people and provide them a platform to share and connect with the world.

Let’s quickly summarize it-

  • VISION – Where do you want to go?
  • MISSION – Why do you want to go?
  • OBJECTIVES, STRATEGY & ACTION PLAN – How will you get there?
  • CORE VALUES – Your behavior and belief system which will help you achieve your vision.

You should also define the vision and mission statement of your company to make your business successful.

A businessman who solely works for money is doomed to decline. Money is only an outcome which will fuel the growth of your company.

For Example:

?1. If a doctor opens a hospital to make money, then he will definitely resort to malpractices.

Just to make money, he will suggest various costly operations like cesarean, angioplasty, open-heart surgery, etc. even when they are not required.
Within 30-60 months, the whole town will come to know about the unethical practices of that hospital. This may result in their debacle.
2. On the other hand, if a doctor has made a mission to provide affordable healthcare service to people, then his brand will become popular soon.
Within 30-60 days, the whole town will come to know him as a highly efficient & professional doctor and he will become famous across the town. This doctor will not only make a good profit but sustain in the long term.

Hence, the mission should be to solve the burning problems of your customers, and profitability will come naturally.

Categories
Sales

How to increase sales through Upselling and Cross Selling

How to increase sales through Upselling and Cross Selling
How to increase sales through Upselling and Cross Selling

Generally, there are two ways to grow your business; either you get more customers or sell more to your regular customers.

Which one would you Adopt? Cross sell vs upsell

It is better to increase your sales by adopting the latter method, that is, by increasing the sales to your regular customers.

Sales to your regular customers can be increased through Upselling and Cross-selling‘.

Increasing your Sales through Cross-Selling

Cross-selling means getting a customer to spend more by selling him related, connected or complementary products.

You can sell a complementary product of 30, 40 or 50 rupees with a 100 rupees product but things can’t go vice- versa.

If you insist on this, the customer would neither buy the complementary product nor the main product.

Example: If a person comes into your shop to buy a camera, you offer him a camera bag, which is a related product. He may buy it.

However, if a person comes to buy a camera bag and you offer him a camera, he won’t buy it.

To cross-sell your product, you have to intelligently pair them up with other products.

Some examples of cross-selling are as follows:

Smartphone Companies: When you buy a smartphone costing 50k, 70k and sometimes 100k, they cross-sell insurance plans with these phones.

Go Daddy: When you buy a domain from Go Daddy, they cross-sell your privacy protection, web hosting products, and many other products.

Car Showrooms: When you buy a car, they cross-sell amplifiers, car cover, seat cover.

Increasing your Sales through Up-Selling
Up-selling means getting a customer to spend more by selling him an upgraded or premium product.

In both upselling and cross-selling, you need to understand what type of product your customer will buy.

For instance, a customer comes into your shop to buy something of 100 INR, you tell him that another product, which is expensive, is on offer and you can get it in 150 INR.

The customer thinks that he is getting an expensive item at the affordable price and he will buy it. This is called up-selling.

However, if someone comes to buy a 24 inches T.V, you can sell him a 32 inches T.V but if you offer him a 52 inches T.V, then he will not buy it.

Upselling involves subtle manipulation.

You go on the website of Booking.com and select a room for yourself, a good budget room and then, at that very moment, the website that shows you better options in considerable prices.

Likewise happens with the flight tickets, when there are available business class seats and you are booking an economy class seat, the airline website flashes a discount on their business class.

So, you should also start up-selling and cross-selling your products. This will increase your sales drastically.

Categories
Process & Business Expansion

How to Grow your Business from 1 Store to 100 Stores

How to Grow your Business from 1 Store to 100 Stores
How to Grow your Business from 1 Store to 100 Stores

Introduction

  • Are you a small shopkeeper, who wants to expand his business?
  • Do you want to increase the number of your stores or branches?
  • Do you know how to grow your business?

The expansion of business has been challenging for Indian entrepreneurs to lack of technical expertise for effective execution of strategies.

In this article, we are going to discuss 5 tips that will help you in expanding your business and increasing your number of stores with the help of a case study of Poojara Telecom Pvt. Ltd.

The founder and MD of Poojara Telecom Pvt. Ltd., Mr. Yogesh Poojara, was a transmission assistant of BSNL in 1983. He started his first shop in 1994 and second shop in 2011.

Today, he has around 50 outlets. How did he do this? By adopting the following five tips of how to grow a small business into a large business.

1. Arey Waah – Low-Cost Marketing Ideas

To know how to grow your business, let us see the low-cost marketing ideas used by Poojara Telecom.

Poojara Telecom comes up with such ideas that a non-consumer becomes their consumers. For this, they do the following things:

  • They attracted ladies (non-consumers) to the mobile stores by setting up a Free Mehandi Camp outside their stores before every festival. As a result, a long queue of ladies converge in front of their outlets and start noticing the stores and purchasing products.
  • They also attracted ladies to their stores by selling selfie sticks of worth Rs 499 at Rs 19. This offer was only for ladies.
  • They provided a special discount as per the weight of their customers. The customers are asked to measure their weight on a weighing machine kept in the store and they will get the discount equal to their weight.
  • They also provided a coupon of 2 Liters free petrol on the purchase of a mobile.
  • They provided free chocolates to kids and free mobiles to students, who get good grades in their board exams.
  • They call customers, send messages and Whatsapp them for CRM purposes.
  • They provide discount vouchers, buyback offers, and privileged customer perks to their customers.
  • They provide a loyalty card named, Humsafar, to their customers on their first purchase and add some bonus points in this card. When the customer visits the next time, he gets a discount on the product on this card.
  • 90 days Box-to-Box replacement guarantee scheme. They say that if there is any problem with the mobile, we will replace it with a new mobile even if the mobile manufacturing companies like Samsung, Lava, Apple, etc. are not giving this facility.

It is one of the tips on how to grow a small business into a large business

2. GHTC – The core values of Poojara Telecom

If you are longing to know how to grow your business manifold then the following core values developed by Poojara Telecom Pvt. Ltd. Will help you out:

G – Genuine, H- Honest, T – Transparent and C – Commitment
It is also one of the tips on how to grow a small business into a large business.

Poojara Telecom believes in selling genuine products. Some of the mobile retailers, who open up the box of the mobile, change the charger, earphones, battery and repack the box. However, Poojara Telecom Pvt. Ltd. avoids such practices in all of its stores.

3. Technology is their Entry Barrier
Poojara Telecom has developed in-house software development team and mobile application

team. They have created their own ERP, CRM, and live customer tracking mechanism.

It is also one of the ways to how to grow a small business into a large business.

  • Poojara Telecom has developed software named, Mobile Promoter Ultra Software that provides you a detailed description of every product available at their store.
  • This helps a sales executive to sell the product easily.
  • This software also helps in comparing two products, which makes it easy for the customer to select and buy a product.

The company has also made software to exchange mobile phones. The sales executive fills the details of the mobile phone (needs to be exchanged) in the software and it will provide an exact amount that the customer will get on its exchange.

4. Right Manpower Will Make You Superpower

The selection of right manpower is one of the ways to how to grow a small business into a large business.

Poojara Telecom has developed an in-house training department. They provide 14 days training to their new employees that include different types of training like product training, mobile technology training, rack training, soft skills training, and selling skills training, Interaction with department and manager, and informed about company and HR policies.

Once the training is completed the employee is assigned the work.

Some of the employee benefits practiced at Poojara Telecom are:

  • A girl working in the organization from last one year and is getting married, then the expenses of her marriage are taken care by the company.
  • The company provides medical facilities to his employees.
  • The company provides monthly “ration” to his lower-level employees.

In all the tough times, Mr. Yogesh Poojara stands with his employees. So, employees never leave the organization.

5. Mobile Service Exchange Accessory (SEA) of One-Stop Solutions
Poojara Telecom store has an in-house mobile service centre. If you buy a mobile from their store and there are some issues with it, then they will repair your mobile at their in-house mobile service centre instead of sending you to the service center of the mobile manufacturing company.

You can’t make a customer loyal by merely providing discounts; you can only make him loyal by creating an outstanding experience.

Poojara Telecom has created its helpline numbers and created customer experience. This helps them to cross-sell and up-sell. This increases the turnover of the company and the customer is getting all the products under one roof.