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7 Tips on How to Increase Sales
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Month: August 2019
Introduction
- Are your employees not performing well?
- Do you want to improve your team performance management?
- Do you want to take your business to the next level?
It doesn’t matter whether you are a Project Manager, Departmental Head, Divisional Manager, or even the Director of a Company; everyone wants to take their Department/ Organisation to the Next Level.
And the ladder that leads to the next level is ’Team Performance Management’
What does Team Performance Management mean?
It is an ongoing process to ensure that an individual’s performance contributes to the mission of the organization.
How do we ensure it?
Here we will discuss 10 tips that will help you Maximize the Results of your team through Effective Team Performance Management.
Tip #1: Link every Department to your Company’s ’Top Goals’
It is very important for you to first identify the top 3 goals of your company, and then link every department of the organization to the company’s goals.
For Example
In a small and medium-sized organization, when the top 10 key people were asked to write three top goals of their organization, they came out with 15 different goals. An organization which is running in different directions can never achieve excellence and effective team performance management to maximize the result.
Tip #2: Determine How well your Team is Meeting your ’Organizational Goals’
Identify the past reality and the current reality of your team. This will help you in achieving your organizational goals easily.
You need to find out:
- Your past track
- Patterns in which your team is moving
This will enable you to plan your path ahead.
Tip #3: Create Clear Performance Metrics for every Department
There are various departments in an organization where the work is done in quality and not quantity.
These are the departments where the performance is done not to improve the results but to support the results.
Anything that you cannot measure, you cannot improve.
To ensure effective team Performance management, you require to:
? Link every department with a clear number to identify the current performance.
? Ensure clarity on current reality and outcome expected in the numerical form.
? These numbers should be connected to the top organizational goals.
This will help you in running the organization in one direction in a numerical format.
Tip #4: You have to identify the Skill Deficit of every Team Member
For ensuring the effective team performance management you need to conduct individual meetings in the organization to identify the skill deficit of every team member.
You have to meet the individuals in the organization to ’identify the gaps, and become their gap partner or skill deficit partner’.
You need to determine what changes are required in their training and what the skill deficit is at the moment.
Tip #5: Create an Individual Professional Development Plan (IPDP)
Discover opportunities and discuss with the employees their individual development plan.
Since you have identified their skill deficit, so, you are discussing their future development plans.
Tip #6: Start asking Solution-Oriented Questions
It is the sixth tip of effective team performance management.
On an individual basis, ask your team members’ solution-oriented questions.
For example, how are they planning to contribute to the main organizational goals?
Enable your employees to make individual plans. This will give top bosses of the company an idea about how employees will contribute to the organizational goals. You have to inspire them to think.
Tip #7: Inspire your Direct Reports to come up with Game-Changing Ideas
This is an empowering, employee engagement and retention activity. People start feeling involved in the organization. It is also another tip of effective team performance management.
Involvement is directly proportionate to commitment.
The more they become involved, the more will be their commitment towards the organization.
Committed employees are the real resource.
’Take away my entire organization. Take away my all machinery. Take away my entire plant. But, give my top people to me. I will come back in 5 years. I will bounce back even better.’
-Henry Ford, Founder, Ford Motor Company
Tip #8: Give the Feedback in Future Tense
It is one of the tips for effective team performance management.
Never ever repeatedly talk about the past mistakes of your team members. This is damaging and will decrease the initiative, ownership, and responsibility of an employee towards the organization.
? Never repeatedly talk about the past mistakes of your team.
? Reduce the offerings of corrections.
? Correct them in the future tense.
? Ask solution-oriented questions.
? Give them a future action plan.
? Talk more about future improvements.
’It is not Performance Appraisal; it is Performance Management.’
Tip #9: Measure Self Performance
Help your employees to create their own visible and compelling scoreboard for their performance management process. It should always be visible to them and you.
They should be maintaining a scoreboard. When your team starts maintaining their scoreboard, they would know where they are.
So, they do not have to wait for the month or year-end to know their performance. Once they know their scoreboard, they can work hard and focus on their performance.
Tip #10: Maintain a Great ’Deposit Withdrawal Equation’
Your deposit withdrawal equation has to be very good.
A lot of managers, department heads, and entrepreneurs are not able to maintain this equation.
You have to invest your confidence and trust in them. To gain trust, you have to extend trust.
So, 40% extend trust, 20% offer correction, and 40% glorify them by actually inspiring them.
Deposit Withdrawal Equation= 40 Deposits: 20 Withdrawals: 40 Deposits
For effective team performance management you should follow below tips:
? Don’t correct your employees in a team meeting.
? Don’t demotivate your employees by yelling at them.
? They should be going out of meeting with lots of energy and enthusiasm.
These 10 points can help you in Managing Performance & Maximizing Results and take your company to the next level.
Categories
How to Achieve New Year Resolutions?
Introduction
- Are you not able to complete your New Year Resolutions?
- Does your resolution break easily?
- Are you looking for ways on how to achieve New Year resolutions?
New Year is an amazing opportunity for people to make personal resolutions for self-improvement. You must have made different types of New Year Resolutions till now.
Example: I will save more money this year (or spend less); I will start reading one book every month, or I will quit smoking.
How many New Year Resolutions you have completed? Your answer may be a few or none.
More than 95% of people broke their New Year Resolutions latest by 15th January.
Have you ever realized why we fail to achieve these goals despite so much conviction and clarity about it?
The reason is quite simple!
We make Multiple Resolutions in our mind because we want to improve everything in our life in the coming year starting from our health, finances to our relationships.
The reality is slightly different. Many Resolutions can never bring many revolutions but One Focused Resolution can certainly bring Revolution.
Following are the powerful tips to make your New Year resolution successful:
Tip #1: One Focused Resolution will Bring Revolution
It is one of the tips on how to achieve New Year resolutions.
❌ Do not make multiple resolutions.
❌ Do not change your resolutions again and again.
✅ Make one focus, steel strong, powerful, unshakable and unbreakable resolution.
✅ Make a resolution that brings a major shift and success in your life.
Now, how will you make it Steel Strong?
Simple! You can do this by consciously holding on to your resolution. You need to give yourself auto-suggestions and create a Recall Support Mechanism around it because, “anything that gets out of sight, gets out of mind.”
Ensure that your goal never goes out of your sight. Place your goal on your television, laptop, mobile phone, the dashboard of your car, the main door of your house, at your workstation, study room, etc.
Once you’ve made a Steel Strong Resolution, make sure that you practice it consistently because only Consistency can bring Progression. This is our second tip to how to achieve New Year resolution.
Tip #2: Consistency can Give you Progression
Consistency is the key in making and achieving New Year resolution.
✅ Follow your resolutions consistently.
❌ Do not change your resolution, if you are facing challenges in achieving it.
✅ Change your strategy, if you are facing challenges in achieving your resolution.
Remember, there is no way to get overnight success. You have to work consistently and improve yourself to get success.
If you do not show consistent improvement, then there are lots of people who can replace you anytime from your job, position, or your business.
For Example
In 1916, the average age of a company was 70 years and it has been reduced to 7 years in 2016. This is because replacement is taking place at a high speed. So, you need to improve yourself with the help of your resolutions otherwise you will also be replaced.
Tip #3: Recruit Support
Sometimes, we all need a push from someone and it is alright to take support to complete your New Year resolution.
✅ Identify a super-specialist in the field in which you have taken a resolution. Take his/her support to achieve your resolution.
The super specialist can be a like-minded friend, relative, or mentor. They will give you a continuous hand-holding and implementation support to hold on to your resolution.
For Example
An athlete grows only in the company of other experienced athletes.
Remember, this is going to bring a great shift in your life and will make you succeed with your New Year Resolution.
Introduction
- Are you facing a problem in calculating your Cost of Customer Acquisition(COCA)?
- Do you think that your margins are low because of High COCA?
Many businesses fail because they spend too much on acquiring a client without calculating the cost.
This impacts their margins and profits that hit the company despite the best strategy.
So, it is important to understand and calculate customer acquisition costs.
What is COCA?
The full form of COCA is the Cost of Customer Acquisition. It is the customer acquisition cost, which means the cost of convincing a potential customer to buy/use a product or service.
In simple terms, the company incurs a lot of expenses on marketing & advertising its product to reach out to the potential buyer along with the salary of its employees. The total amount spent in this process is called the Cost of Customer Acquisition (COCA).
Once COCA is calculated, we can arrive at the actual Average Cost per Customer.
Calculating COCA
Let us take an example to understand how to calculate customer acquisition cost.
A businessman spends Rs 1 crore on ’Marketing + Advertising + Sales’ and acquires 100 new customers.
Now, Cost of Customer Acquisition or COCA can be calculated as:
COCA = (Sales and Marketing Expenses)/New Customers Acquired
COCA = Rs 1 crore/100
= Rs 1 lakh
That is, Rs 1 lakh is spent by the businessman to acquire one additional customer, which is the customer acquisition cost.
Now, your next step is to analyze whether you can afford 1 lakh rupees to add one more new customer or the Cost of Customer Acquisition.
If you have a business of repeat sales i.e. recurring revenue model business, then a new customer can give you good business in the next 5 years.
If a customer is buying only once and cost to add a new customer is more than what you get by selling your product, in that case, it is not a good idea to invest so much in acquiring a new customer/client.
Points to Remember
Business Loss = COCA > Business Expenses
COCA < Expected COCA, here you consider your friends, family & relatives as your customers and once they go away, you find yourself in a tough situation. So, it is important to make some budget for bearing cost of customer acquisition without plunging into the negative margin.
It is important to understand the long-term relational value while acquiring a new customer.
You need to identify those behaviors that are indicative of a loyal customer. And then you need to hold your customers for repeat business.
Retention marketing is a new battleground in the business, where tracking is compulsory.
Categories
How to pay loan faster in 8 Easy Ways
Introduction
- Are you facing problems in paying off loans?
- Are your loans taking away all your savings?
- Do you want to know how to pay loan faster?
Because of the lack of enough knowledge on how to pay off a loan early, many businessmen in India plunge into long-term debt due to lack of calculation and financial planning. And due to debts, businessmen develop various health issues like hypertension, anxiety, blood pressure, stress, and depression.
To be happy, you don’t need a piece of finance, you need financial peace.
You just need to know how to pay loan faster without disrupting your day-to-day functions.
In this article, we are discussing 8 effective ways of how to clear loans faster that will help you to get rid of life’s tension.
1. List your Debt by Interest Rate
Following significant steps will help you know how to pay loan faster than usual time span:
? List all your loans along with their interest rates either in ascending or descending order.
? Do not give equal EMI in all the loans.
? Complete the loan first that has the maximum interest and pay minimum EMI of other loans.
For Example
The interest rates of different loans are: Home loan – 8.3%; Car loan – 9%; Education loan – 10%; Personal loan – 12%; Unsecured loan – 20%; Credit card loan – 32%.
As the interest rates of credit card and unsecured loans are higher than the other loans, so, first complete these two loans. Keep the payment of other loans at a minimum.
2. Pay Incremental Gain Exponential
Let us know how to pay loan faster by paying more or double EMIs on the loans whose interest rate is high and get exponential gain.
Take the following example to understand how to pay off a loan early.
| Parameters |
Scenario 1 |
Scenario 2 |
Scenario 3 |
| EMI | 5,000 | 10,000 | 20,000 |
| Time Taken for Closure | 41 Months | 13 Months | 6 Months |
| Payment | – | 2 times | 4 times |
| Benefit | Nill | 3 times | 7 times |
| Total Amount Paid | 2,05,000 | 1,30,000 | 1,20,000 |
In the above table, you can observe that if we increase the amount of EMI, then the total amount to be paid decreases. In this way, you get the exponential benefit through incremental payment.
3. Sell Unnecessary Items for at least 2 to 4 EMIs
Selling unnecessary items is another way to how to clear loans faster.
If you buy a product but not use it from last one year, then it is possible that it is your depreciating asset and useless for you.
For example, unnecessary furniture, old mobile phones, bags, books, and apparel.
You can sell the unnecessary items on OLX and Quikr. You can take out 4-5 EMIs of your loan by selling these things.
4. Temporary Downsizing
Temporary downsizing is one of the ways to how to pay off a loan early.
An intelligent person will buy an appreciating asset while a low IQ person will buy depreciating assets or liability or unnecessary objects.
- Identify your unnecessary monthly subscription services, depreciating assets, and non-value adding objects.
- Control these unnecessary expenses so that you can make some extra saving, for say 30%. You can use this saving to pay your EMIs.
5. Pay Loans with the Second Income
To know how to pay off a loan early, you need to analyze the total amount of income you have.
? If you have two earning members in your family, then use the income of one member to meet the family expenses and use the income of the other member to pay off your loans.
? If you are the only earning member in your family, then you should plan additional income through part-time jobs like freelance photography, content writing, LIC agent, catering, etc.
- Identify your passion that will help you to get an extra income.
- Use the additional income to pay off your loans.
6. Have an Emergency Savings Fund
You should consider the following pointers to understand how to pay loan faster:
? Maintain some emergency savings fund so that you need not take loans.
? Invest in equity and liquid debt funds that will help you to takeout funds easily.
7. Habit of Budgeting is an Extra Blessing
You need to adopt the following points to understand how to clear loans faster:
? Have a data-driven approach to your spending.
? Keep your intelligence above your emotions while spending.
? Make a budget to control your emotional spending.
Those who don’t manage their money will always work for those who do!
8. Throw any excess cash on your debt
Spend the extra money obtained from any source like tax refunds, bonuses, incentives, etc. to pay your debts.
Do not take loans in a hurry. Maintain your CIBIL score. Spend only when it is necessary.
At last, even if you know the strategy of how to pay loan faster, but you are not implementing then you are deliberately letting your loans eat all your savings and financial growth.
Hence, implementation is the key to pay your loans off swiftly.
Categories
How to increase sales by 10 times not 10%?
??Introduction
- What kind of Growth are you looking for – Incremental or Exponential?
- What kind of approach do you adopt – Sales or Consultant?
- Do you know how to increase sales volume?
In ’incremental growth’
, you can grow by 10% while in ’exponential growth’
, you grow by 10 times.
Through this article, we will share a few ideas on how to increase sales by 10 times by which you can too experience exponential growth in your Business.
Whether you are doing MLM sales, B2B/B2C sales, corporate sales, Institutional sales, Individual sales, direct/indirect sales or channel partnership, the principle is same and that’s what we are going to discuss.
To know how to increase sales volume, you need to first understand the difference between salesman and consultant.
Who is better ’ Salesman or Consultant?
Salesman and Consultant both are doing the same job but their approach is different.
Let’s discuss the difference between both approaches:
| Salesman | Consultant |
| A salesman comes with a product. | A consultant comes with a solution. |
| Salesman works on his greed. | A consultant works on the client’s needs. |
| A salesman speaks 80% and the client speaks only 20%. | A consultant speaks only 20% and the client speaks 80%. |
To know how to increase sales volume, you need to consider the following points:
? If you focus on your greed, then the need of the client and your greed both will not be completed.
? If you focus on the ’need of the client’, your greed will automatically complete because the need of the client is completed.
Take the approach of a consultant and not the salesman because the client does not want a product, he only wants a solution.
Customer doesn’t want to be sold, he wants to be helped.
You have to work with the ’consultative approach’
. Now, what is the Consultative approach?
It means you have to act as a consultant by asking a lot of ’solution-oriented questions’ to the client.
What type of questions are these?
For such questions, you have to conduct a N.I.C.E. analysis.
Needs ’ Interest ’ Concern ’ Expectation
To know how to increase sales volume, you need to first understand N.I.C.E. analysis.
When you understand the Need, Interest, Concern, and Expectation of the client, then what you actually showcase to the client, he will buy it.
But, the problem is that you are focusing on selling the product you have brought and not focusing on the need or problem of the client.
How to Implement N.I.C.E. Analysis?
To know how to increase sales volume, you need to learn how to implement N.I.C.E. analysis.
For implementing the N.I.C.E. analysis:
- You need to first understand what, why, when, where, and how of the client.
- You need to find out:
1. What is going in the life of the client?
2. Why is it going?
3. Since when this is going?
4. Where and how it is going in his life?
A consultant actually identifies the ’latent need’ of the client. After that, he shows his product as a solution to his need. With this approach, the product gets sold double, triple, and quadruple times.
This leads to ’10 times sale growth’, not 10%.
How to Increase Sales by Asking the Right Questions?
Conduct N.I.C.E. analysis of the client not by speaking but hearing the client. You have to hear the client, understand him, and acknowledge him sometimes.
To know how to increase sales volume, you need to start ’parroting and paraphrasing’.
For Example
If the client says, ’I am going through various problems in my life, how I will buy, now?’ you need to say, ’Oh problems are going on, I would like to understand what problems you are facing.’
Basically, you have to ’enter in his shoes’. But, before entering in his shoes, you have to first ’take off your own shoes’.
Put aside your product and try to understand the client’s situation.
How to Ask Questions?
You can ask the client some thinking questions and current reality questions. When you ask him some questions, he will start speaking out. Then, you can ask him some vision questions and goal-oriented questions.
Understand his goal, his vision and then again ask him the current reality question.
For Example
If a client’s goal is to reach at 8/10 and he is currently at 4/10. You need to understand where the client is right now (this is the client’s assess) and what his vision is or where he wants to go (this is client’s aspire).
The gap between assess and aspire of the client is architect. You have to help the client to ’architect this gap’. Now, you become the partner of the client and you are no longer a salesman to him.
To know how to increase sales volume, you need to understand what type of questions you can ask from your customers. You can ask the following types of questions to your customers like:
- Problem-oriented questions
- Solution-oriented questions
- Probing questions
- Leading questions
The answers to these questions will make you understand the problems of the client. During this time, when you say:
You:
’Oh… You are going through so many problems, you are facing these problems from so long’my lord! So, how much it is necessary for you to solve these problems?’
Client:
’It is very important for me to solve these problems.’
You:
’How much you are committed to solving these problems?’
Client:
’Very much.’
You:
’Do you want me to help you with this?’
By asking Solution Oriented Questions, you become the client’s gap partner and you can offer your product as a solution to his problems. He will immediately buy your product.
How to Increase Sales through Consulting Approach?
In any conversation, the person who is asking questions leads the conversation and not the one who is giving answers. You will become the leader and control the complete conversation and this conversation will go in your favor only.
If you want to grow 10 times, leave the approach of a salesman and become a consultant.
Some of the sample questions you can ask are:
- Where do you want to reach?
- What do you want to do?
- Which type of life do you want to live?
- How can I help you?
- How much committed are you to improve your life?
The three main questions that should be asked to the client are:
- Where you are right now?
- Where you want to go?
- How you will go?
You can ask these three questions in detail. You can help the client in reaching his goal by becoming his gap partner.
Categories
How to Get Success in Life?
??Introduction
To know how to get success in life, you need to ask yourself the three questions:
- Where are you now?
- Where do you want to go?
- How will you go?
If you have answers to the above three questions, you can achieve anything in your life.
Whether you are an entrepreneur, project leader, manager, or any other professional, following powerful tips to be successful in life will help you thrive in your career:
Tip #1: Know What Do You Want
It is one of the tips to be successful in life.
You should have clarity in your life. Clarity is the key to success in life. When you get the clarity, your mind is focused. Wherever mind focuses, it gets zoomed in and then you can’t see anything else.
Arnold Schwarzenegger – a first-class politician, first-class entrepreneur, great bodybuilding champion, and an actor – says, ’My rule for success is clarity. I set a goal and then I do whatever it takes to achieve it.’
Do you know, what do you want from yourself, your company, your business, and your employees in the next one year?
Where do you want to reach in the next 2-3 years?
Once you know, then you start living life for a purpose.
You should have clarity regarding your career, personal life, and relationship.
Tip #2: When You Stretch, You Grow
How to get success in life by stretching your limits?
You often think that you have limited potential. But, actually, you don’t know about your limits and potential.
When you stretch your limits, your limits will expand. When you stretch your expanded limits, your expanded limits will further expand. They will keep on expanding. This is because you have unlimited potential. It is another key to success in life.
Do not equate your salary to your potential. Your salary can be x but your potential can be 5000x or 100,000x. You actually don’t know because you are equating your potential with your salary.
According to the Shloka 15.7 of Bhagavad Gita:
mamaiv?n?ho j?va-loke j?va-bh?ta? san?tana?
mana?-?ha?h?h?n?ndriy??i prak?iti-sth?ni kar?hati
Lord Krishna says, “As you are my part, so, you also have unlimited potential like me. But, the problem is that your six senses and your heart will make you struggle with your existing potential. As a result, you get distracted to different things and also deviated from your purpose.”
So, Lord Krishna says, know your purpose and stretch your limits to reach your purpose.
Tip #3: Anything that You Cannot Measure, You Cannot Improve
The key to success in life is that you should start measuring your efforts and determine what to do and when to do in order to reach your goal.
You should monitor your efforts through the schedule, tracking charts, and templates. These measurements will also help you to know how to get success in life and where improvement is required and
You have to make a scorecard to track your performance. Start measuring your efforts every day to make sure that you are on the right path to achieve your goal.
So, following the above three crucial tips to be successful in life will help you achieve whatever goal you set!
??Introduction
- Are you a new businessman?
- Do you want to take your product to every corner of the country?
- Do you know how to find distributors in India?
No matter how big your business is, it is an uphill task to open your stores in every corner of the country.
A good distribution network can help your business grow rapidly and extend reach across the length and breadth of the country.
Before understanding how to find distributors in India to scale up your business, let’s first understand what are the advantages and disadvantages of the distribution network.
Advantages of Distribution Network
Low Sales and Marketing Cost
If you deploy your salesman and open stores all over the country, it will cost you very high, but selling through distributors will reduce your cost, and increase profitability.
Market Penetration
Strong distribution network helps you increase your reach in remotest parts of the country, where you cannot reach yourself. It increases your market reach and sales.
Trustworthy Partners
If you get trustworthy partners in the market, it helps you sell your products with more speed. You need to build a chain of distributions that is loyal to you.
Rapid Testing
Through a strong distribution network, you can test your product rapidly and bring the required changes in your product as per market demand.
Efficiency
A large network of distributors increases your speed of delivery of product in the market against your competitors. All FMCG companies like Hindustan Unilever Limited, Coca Cola, P&G, Dabur, and Patanjali have spread all over the country so rapidly through a powerful distribution network.
Disadvantages of Distribution Network
Risk of Distributor Brand
The image of a distributor in a particular area has a high potential to affect your brands’ sale in that area. If a distributor has a bad image then it will affect your brand adversely.
Delay in Payment
If you give a long credit period to distributors, who delay in payment on the purchase of products, then it is going to hurt your business and increase the cost of capital.
Lesser Control
Selling through distributors asserts little control over the complete sales process, as you don’t sell a product directly to a consumer, hence you have limited control over the way distributors present your products to customers.
Reduced Feedback Cycle
Since a distributor is not your employee, it is difficult to get actual customer’s feedback to understand their need and bring the required changes. You cannot compel them to get customer’s feedback.
Increased Cost
Since you have to take care of margin of a retailer, distributor, wholesaler, and purchasing cost of the customer, many times, you are compelled to reduce your own margin, while increasing the capital cost.
How to Find Distributors?
Now with the help of following 11 tips, let’s understand how to find distributors in India:
Tip #1: Sales Representative
It is the first tip on how to find distributors.
Sales representatives work at ground level to sell your product in the market, by ’visiting door to door’.
Tip #2: Channel Sales Executive
They are responsible for ’building channel partner’ in the market for selling your product. You need to have channel sales executives in every city across the country to promote your sales among distributors. This will also help you in selling through distributors.
Tip #3: Join the Industry Association
To know how to find distributors in India, you need to understand the industry association.
In every industry, there is an association, where many big and small business persons converge at one place to work towards a common agenda.
You can also ’build a chain of distributors” through an industry association.
Tip #4: Trade Shows
It is one of the tips on how to find distributors in India.
In trade shows, vendors, distributors, wholesalers, manufacturers, consumers, exporters, importers, buyers, and suppliers of a particular industry come under one roof, where you can get ’bulk order and big manufacturing contracts.’
Tip #5: Meet the Existing Distributors
It is the fifth tip on how to find distributors in India.
Another way to extend your distribution network is to ’get the reference from existing distributors’,
who are aware of their location. It can help you to ’get a hold on the market’
without much effort.
Tip #6: Wholesalers and Distributors Website
The technology has made spotting the wholesalers and distributors easy through an online platform.
You can visit their website to build your distributor chain without extensive expenses. It will help you in selling through distributors.
Tip #7: Subject Matter Expert
Make field visits to understand which product has a high demand among distributors and retailers. You can ask the existing distributors about which product has the highest penetration in the market and make your distribution policy accordingly.
It is another tip on It is the first tip on how to find distributors in India.
Tip #8: Keep an Eye on Your Competitors
Along with building a strong distribution network, you need to understand what your competitors are doing to get an idea about their marketing strategy.
Tip #9: Use of your Website and Social Media to Generate Leads
Try to create your website and social media platform, mention the process of becoming a distributor and advantages to them, to build your strong network.
Tip #10: Meet Alliance Expert
There are many alliances /agents available in the market that can help you in building a partnership to expand your distribution network.
Tip #11: Outdoor Advertisement
Outdoor advertisement tools like posters, pamphlets, and billboards are also necessary to build your distribution network in the market.
If you follow the given tips on how to find distributors in India, it will certainly help you grow your business as much as you want not only in India but all over the world.
Categories
How to become Successful in Life?
??Introduction
- Do you want to know how to achieve success in life?
You must be thinking about how successful people became successful.
Here are the three powerful tips to be successful in life.
Tip #1: Power of Responsibility
It is one of the tips to be successful in life.
Responsibility is one thing that is never given, it is always taken.
You can’t give responsibility to someone, who is not ready to take it.
Can You? The answer is NO!
For Example
Once a girl was carrying a 12 years old disabled boy on her back and was going to Vaishno Devi.
A saint was also passing by with a heavy bag on his back.
The saint noticed that the poor girl was feeling breathless but she was still moving ahead.
The saint said to the girl:
’Daughter, you might have tired. You are carrying a heavy load on your back.’
To this poor girl replied:
’Baba, load to aapne uthaya hai, Mai to apne bhai ko Darshan Karwane le ja rahi hu.’
Baba was speechless hearing the answer of the poor girl.
So, the Moral is; Responsibility can never be given, It is only taken.
Responsibility, if given, becomes a load.
Responsibility, if taken, can accelerate your progress in life.
Lord Krishna also said, ’sarvatr, sarvada, sarvsthasu.’
Sarvatr means everywhere, Sarvada means every time/always, and Sarvsthasu means in any circumstances.
So, Krishna said that the person, who takes responsibility, gets success everywhere, always, and in any circumstances.
Tip #2: Gratitude Journal
How to become successful by adopting the Gratitude Journal in your life?
Every night before going to bed, you should write a gratitude journal.
It should include what is the good thing that happens today in your life.
Is everything around your waste or important?
You need to find out this.
The person who sees waste in everything, his/her behavior also becomes like that. Their thought also becomes wasteful.
On the other hand, the person who finds everything important around them, their behavior and thoughts also become important. Such people grow very fast because they have a relaxed mind. Happiness and prosperity come to these people automatically.
So, before going to bed, write at least the name of five people whom you are grateful to thankful.
It is said ’Either you are Grateful or Great Fool’ if you feel thankful, you will grow.
Tip #3: Life is the Result of Choices
It is also one of the tips to be successful in life.
What type of thoughts do you choose in your life?
Which type of behavior do you select in your life?
You have the ability to make the choice. But, you blame the circumstances, instead of bringing change in your mindset.
To understand how to achieve success in life, you need not depend on others to make a selection.
If you are not ready to bring change in your life, then nobody else can do this.
There is a saying, I invested my whole life in changing the circumstances, the day I changed my mindset, circumstances changed automatically.
You will face various problems in your life, it will depend on you whether you want to give up or get up. This decision needs to be taken by you and nobody else.
You want to learn or you want to blame, this is your choice. In odd circumstances, some people blame the circumstances while others learn from it.
Do you find life as a puzzle or a problem?
If you take it as a puzzle, you can solve it. But, if you think it as a problem, then it will become a bigger problem.
Your choices make your values; your values build your thoughts
Your thoughts form your behavior; your behavior forms your ethics
Your ethics bring you publicity and your publicity helps you to do business
From the above-given tips to be successful in life, you have to learn to make better choices in your life in order to get guaranteed success.
??Introduction
- Do your business work on the Fly Light Model?
- Are you planning to scale up your business across the globe?
Gone are the days when a business needed very huge capital investment to become a conglomerate. The technology has defied all myths and misconception regarding business.
Today, all global tech or non-tech giants are running their business on the fly light model without investing too much on capital.
What is Fly Light Model?
If you put 2 kg weight on a kite, it will not fly high, instead, the more you make it light the higher it will fly.
| A business has to be built on a fly light model to make it fly high. |
Some companies who have adopted the Fly Light Model are as follows:
WhatsApp:
It is a fly light business model that WhatsApp has become the world’s largest internet-based messaging service, without having a single server of its own. It uses people’s mobile as their server. With only 200 employees, they expanded their business all over the world and increased profit drastically, without investing too much.
Uber:
Uber became the world’s largest taxi service, without having a single taxi on their own name. This is also an example of a fly light business model.
Uber did not spend a huge amount of capital on purchase on assets. What they did do, was connecting customers with the customer (C2C) through an online platform.
Alibaba:
By adopting the fly light business model, Alibaba does become the world’s most valuable retailer, without having even a single inventory on its own name.
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In this kind of business model, owners don’t have to make a heavy investment in the capital; instead, they have to invest in operational expenditure on frequent intervals, which automatically increases profitability. |
It automatically increases the return on investment of promoter and investor, since capital expend is extremely low.
Benefits of Fly Light Model
1. High return on Asset
The fly light model gives you a high return on assets as you don’t need to spend huge capital for expanding your business.
At the same cost of capital, you can scale up your business across every corner of the world, which automatically increases your return.
2. Controlled Profit Fluctuation
In the world of ever-evolving technology, keeping profitability constantly increasing is as difficult as never before. In just the last few decades, technology left much business out of business.
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For Example: Postman was replaced by telegram, telegram by courier, a courier by Email, Email by social media and now Social media is being replaced by WhatsApp. |
Fly high business model is the kind of business in which, you don’t need to invest high capital, and hence you don’t suffer heavy losses abruptly.
3. Scalability Driven Cost
In the traditional business model, every business needs a heavy cost for its expansion. But in this business model, your cost doesn’t increase, no matter how much you scale it up. But despite the low cost, your profitability will go on increasing.
Examples of Fly Light Model
1. Franchise
The franchise is the fastest and easiest model to do business for Franchisor and Franchisee. It works on the fly light business model as it reduces their burden on capital expenditure by distributing it between Franchisor and Franchisee.
- Here, a big Franchisor doesn’t need to invest more capital to set up a new unit, whereas a small Franchisee doesn’t need to invest heavily on sales, marketing, proprietary tools, training/learning, and development operational expertise of intelligence.
- A Franchisee gets trademark, system, signage, software for the fee to get started.
- A Franchisor gives training to manpower, corporate strategies, sales, marketing, branding support to Franchisee and in return, they get a licensing fee, monthly royalty as a profit. Few models of Franchising are:
Pizza Hut | Domino’s| Subway | McDonald’s
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For Example: Notably, India’s biggest iron rod producer Kamdhenu Group has come on this model. With a chain of 10,000 dealers and distributors, it has given 70 franchisees across the country for producing iron rod. In return, they give them technology, marketing support, distribution, and dealer support. |
2. Outsourcing
It is based on fly light model where you reduce your cost of capital and build operational efficiency by shifting your task to an external party.
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For Example: Apple is the world’s most premium mobile brand though it doesn’t make mobile on their own. Apple has outsourced its manufacturing part to Foxconn in China and focused its all resources on designing, R&D, marketing and sales. Hence it has reduced their high cost on manufacturing and increased scalability. |
3. Asset Sharing Model
Asset sharing model is also one of the types of fly light model.
In the asset sharing model, two or more companies come together to share the cost of a high valued asset to reduce their expenses. Many big infrastructures like oil and gas companies work on this model where the purchase of an expensive asset is needed.
It is called the optimization of capital cost, risk diversity, and division of Capital cost.
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For Example: OYO began their business on asset sharing model by sharing the property with property owners without investing heavily on buying a property. It reduced their cost and increased profitability significantly. |
4. Pay-Per-Use: Co-sharing/Co-working Space
In the traditional business model, if your company wants to open small offices in 5 different cities of the country, then you will have to invest heavily in establishing each office.
But Pay-Per-Use, a booming form of fly light business model, has made it very easy to set up your office without spending too much. This is the concept of co-sharing/co-working office spaces on pay-per-use, where you pay rent as per usage.
In this model, you have to share common pantry, internet, printer, meeting room, washroom, and stationery.
5. Licensing-In & Licensing-Out
It is also one of the forms of fly light model.
Many pharmaceutical companies, in order to save their cost of R&D and brand development, license-in and license-out their products to other manufacturers.
License-in:
In this, a big company gets a license to sell products of another company. Here a company focuses on manufacturing, sales & marketing.
Licensing-out:
In this, a company gives license to other companies to manufacture its products. Here a company focuses on R&D and brand development.