Month: August 2019

Categories
Sales

What are the reasons for decrease in sales revenue

जीडीपी
जीडीपी

??Introduction

  • Is your sales graph decreasing?
  • Do you know the reasons for decrease in sales revenue?
  • Do you want to increase your sales?

All the top brands are successful today because they have adopted the Problem Solving Product (PSP) Formula. This formula helps them to increase their sales automatically. 

In PSP formula, you study the four main reasons for the decrease in sales revenue.

Reason #1: People Don’t Like to be Sold

It is one of the reasons for low sales.

Remember, people generally don’t believe on strangers. So, if you suddenly go to people and start selling your product forcefully, they will not buy it.

People don’t like to be sold, People like to be helped.

Don’t sale only Product to Customer
?; Try to Help your Customer
?.

You can help your customers by either solving their existing problems or helping them to achieve their goals.

Reason #2: You Didn’t Dig Enough about the Customers’ Need

You cannot help a person forcefully. You need to identify what the person actually wants. This is also one of the reasons for low sales.

Let us understand it with the help of the following example.

For Example:
?

Teacher to his student
– Why you came late in the class?

Student
– Sir, we are helping an old woman to cross the road but she was not ready to cross the road. That’s why sir 🙁

So, the moral is
– ’Don’t try to sell your product forcefully.’

Identify the customers’ needs and then find out how you can help him in satisfying his needs. This is called Consultative Selling.

Once you identify the customers’ needs and solve their problems in various aspects related to the product, then the customer will buy your product.

Reason #3: Identify Your Key Decision Maker (KDM)
 

When you are selling your product to a customer, you should determine whether the person has the ability to take the decision or not. Sometimes, you are talking to the wrong person. This is also one of the reasons for decrease in sales revenue.

There are five types of person, who can purchase your product-

1. Initiator || 2. Influencer || 3. Decider || 4. Buyer || 5. Consumer

Now, you need to determine whom you are targeting to, who is your key decision-maker and according to your business which should be your target.

For Example:
?

1. If you are selling toys, then do not target the child. Target the decider (mother) or the buyer (father, mother or guardians) because they are the people who will purchase your product.

2. In B2B sales, the purchase manager is your buyer but he is neither the influencer nor the decider. The decider is the boss of the purchase manager.

So, try to find out your Key Decision Maker (KDM). This will help you to increase your sales in many folds.

Reason #4: Unclear about Budget Brackets

Unclear about customer budget bracket is one of the reasons for low sales.   

Based on the budget brackets, the customers are categorized as follows: 

A. Customers having Money ? and Want to Purchase the Product ?

These are your Perfect Customers. You can easily sell your product to them.

B. Customers having Money ? but Do not Want to Purchase the Product ?
  

These are the customers’ needs that have not identified correctly. Try to know their needs.

C. Customers who do not have Money ? but Want to Purchase the Product ?

These are the customers whom you should provide solutions so that they can buy the product. 

D. Customers who neither have Money ? nor they Want to Purchase the Product ?
  

Do not consider these customers to sell your product.

The abovementioned points are the reasons for decrease in sales revenue. A businessman or salesman needs to take care of these points to boost their sales.

Categories
Process & Business Expansion

Product Positioning Strategies to Grow Your Business

Introduction

  • How to introduce a product in the market?
  • What should your company or product be known for?
  • What is the positioning of the product?

The first rule is to identify your perfect audience because you cannot sell the product everywhere at different prices.

Whether you are an Entrepreneur, a Businessman, a Start-up or a Sales-executive, everyone wants to know the best product positioning strategies for their company or products in the market.

To position your products effectively, you should use the product-quality matrix. In the product quality matrix, there are primarily four product positioning techniques.

You can position your product in any of these markets depending on the type of product.

Let’s study these four quadrants, i.e. the product positioning strategies in detail.

Quadrant #1: Value for Money Market

In this market, companies sell good quality products at a low price. Such products are value for money.

Let us study some of the product positioning strategies examples of value for the money market.

For Example:
Suzuki’s car is considered as value for money because not only it’s resale value is good but also runs smoothly.

Another example is Relaxo; their slippers are long-lasting as well as pocket-friendly.

Quadrant #2: Opportunistic Market

  • In this quadrant, prices of the products are high but their quality is low.
  • There are no regular or repeat customers and products. Therefore, the vendor’s sole intention is to make as much profit as possible like the market at the Railway station, Highway or at Cinema halls.

Let us study some of the product positioning strategies examples of opportunistic market.

For Example:

Every day new tourists visit the Taj Mahal in Agra. So, shopkeepers’ or vendors’ priority is to make a maximum profit not to provide high-quality products or services.

Remember, in a defined category, if you are offering products at a high price with low quality, then your business will not survive.

An opportunistic market can only survive in limited space; hence you should carefully position your product.

Quadrant #3: Chinese Goods Market

  • In this quadrant, both the price and quality of products are low.
  • Here, buyers usually price-sensitive; therefore, sellers dump their cheap products in such a market for a better return.

Let us study some of the product positioning strategies examples of Chinese goods market.

  • You must have seen Chinese toys; their shelf-life is very short as the product is of low quality but the price is very competitive.
  • Here, the financial value becomes your proposition, for instance, Chinese lights on Diwali, Road-side toy seller, etc.

Quadrant #4: Premium Market

  • In this quadrant, both price and quality of product are high.
  • Branding and positioning of the product are done in such a manner that high-quality products can be sold at a very high price.

Let us study some of the product positioning strategies examples of the premium market.

 

For Example:

Brands like Versace, Louis Vuitton, Gucci, etc. are selling purse, bags, clothing lines, and accessories at a premium price.

A good quality bag which can be bought at ? 7000, they are selling similar products at over ? 70,000 – 80,000. They have positioned their products in such a manner that they sell selected products at a premium price. They have a limited market but huge margins.

Similarly, the actual price of Apple’s phone may be ? 30,000 but they sell the product for over ? 70,000 and get huge margins. Apple has created high aspirational value for their product so much that even a common man is willing to buy it on loan.

Generally, brands stick to one of the four quadrants but there are some organizations who use different product positioning strategies to launch their products.

For Example:

Relaxo’s brand, Flite comes under value for money quadrant but its Sparx brand is positioned under premium quadrant.

Similarly, Maruti Suzuki has positioned its Nexa in the premium segment. For this, the company had opened a separate Nexa showroom because they were not able to sell the product at premium prices.
If you will try to move into a different quadrant with the existing brand or without creating and positioning the new brand, the market will drag you to the lower quadrant again.

Therefore, to create a different brand, as done by Relaxo, you have to change the positioning of the product completely.

Categories
Powerful Personalities

Motivational Tips by Dr. Vivek Bindra

Introduction

  • Do you know the benefits of getting motivated?
  • Do you want to know how to get motivated?
  • Do you want to know the business motivation tips?

Motivation is a zeal that can change your life and your business drastically. Dr. Vivek Bindra has conducted a motivational training seminar in Lucknow, Patna, Raipur, Indore, and Bhopal.

Here are the motivational tips by Dr. Vivek Bindra discussed in the seminar:

  • If you want to increase your earning, then first you should grow your learning.
  • Focus on your unique quality that is not with any other person.
  • The problem that you have in your life is not actually a problem. Considering a problem as a problem is a bigger problem.
  • You are an average of five people you keep yourself in your life around. Always choose a better association.

If you try to be the best, you will be the number one.

If you try to remain unique, you will be the only one.

Handling Rumors

There are some people in your organization that spread rumors. You can’t even imagine the power of a rumor to damage.

For Example:
?According to news, a procession of 25,000 people was going in the Middle East. A rumor was spread that there is a bomb in the procession.People got panic and started leaving the place. In that scenario, around 2,500 people died.

Later, it was found that the bomb was a small cracker that children used to play with during Diwali. If this bomb was blasted, even 2.5 people can’t be injured but 2,500 people died just because of the rumor.

Always reject the rumors, don’t allow them to spread. This is one of the motivational tips by Dr. Vivek Bindra.

There are some people in the organization who will always say bad words about you even if you are doing something good for them. Don’t worry about such people. It is one of the business motivation tips.

For Example:

Once a wife asks her husband to make breakfast. Husband does so and brings it to her wife. But she said, ’You will never learn, I need omelet, not boiled eggs.’

Next day, again wife asks to cook breakfast, husband again does so, But she said, ’You will never learn, I need boiled eggs, not omelet.’

On the third day, when wife again asks her husband, this time he cooks an omelet and also boils some eggs. He is assured that now his wife will not scold her. But when the wife saw the breakfast she said, ’You will never learn, you have boiled those eggs that should be used for omelet and cooked the omelet of those eggs that should be boiled.’

So, there are some people, who will never praise your effort.

There is a saying in our holy scriptures:

vidyā-Vinaya-sampanne

brāhmaṇe gavi hastini

śuni caiva śva-pāke ca

paṇḍitāḥ sama-darśinaḥ

The true knowledge enables you to see all the people with equal vision whether he is a learned and gentle Brahman, a cow, an elephant, a dog or a dog-eater.

  • All the success stories when they are raw they prove to be the failures but it is their ability to bounce back from failures and become successful.
  • No matter how many failures you experience, just bounce back with more and new effort.
  • You have to practice bounce back from failures in your life. This is one of the business motivation tips given by Dr. Vivek Bindra.
For Example:
?Thomas Alva Edison fails 9,999 times before he discovers the bulb. When he was asked how you deal with so much failure, he said that I have never failed; I have learned 9, 999 ways through which I can’t make a bulb.

A disciplined life is an assured way to almost zero-defect life. It is also one of the motivational tips by Dr. Vivek Bindra

For Example:

In the first joint venture between IBM North Americans and Japanese, when the first order of 9,960 packets was given by IBM North Americans to Japanese:

North Americans to Japanese: ’You can give three defects, no problem.’

Japanese: ’We are zero-defect country and Zero Defect Company.’

But, North Americans again said that you can give three defects.

After six months, the Japanese company sent the consignment.

The consignment includes two lots of packets ’ one lot contains 9,957 packets and the second lot contains 3 packets. They also sent a letter with the consignment that says:

’It is difficult to work with North Americans. We are unable to understand why you need three defects. We were not able to make three defects. So, we made three defected products separately.’

When there is discipline in your organization, it will lead to zero defects.

Categories
Motivational

How to Achieve Goals in Life?

Introduction

  • Do you want to achieve all your life goals?
  • Do you change your goals frequently if not achieved?

You definitely have some dreams and aspirations in life and have also put in relentless efforts to achieve these aspirations.

But still, you don’t know how to achieve goals in life.

Now What?

You abandon and change your Goals. Isn’t it?

But, you do not have to change your goals frequently. Rather you have to direct your efforts in a proper direction and achieve your goals.

In this article, we will discuss 5 important steps to achieve goals:

1. Hold on to a Conscious Goal

When you are unable to achieve your goal after relentless efforts, you change it, and let your dreams die consciously.

99% of people either don’t set their goal or change it after one failure.

Rather than changing your goal repeatedly, change your strategy and hold on to your conscious goal.

Don’t Change Your Goal, Change the Strategy…

2. Set Unusual Reminder Mechanism

Setting an unusual reminder is one of the most significant steps to achieve goals. 

After choosing your goal consciously, you should create unusual reminders amid your day-to-day activities, to achieve your goal. 

You need to put some awkward signs and indicators around you, which don’t let you forget your goal.

99 percent of people do not hold on to their goals. Either they do not make any goals or change their goals frequently.

But the question arises, ‘How to set unusual reminders’? 

Here are 5 ideas through which you can set unusual reminders.

A. Wear your wristwatch on a different hand

If you wear a wristwatch on your right hand, then start wearing it on the left hand. It will perplex you whenever you try to see time on your right hand. This will remind you of your goal repeatedly.

B. Disturbing Sign Post

Put disturbing signposts on your way so that every time you go there, you get disturbed by these posts and recall your goal.

C. Cover Your Bathroom Mirror by 89%

When you will cover your bathroom mirror by 80% with cloth or paper, you will face difficulty in seeing a mirror while shaving and combing hair. This will make you feel uncomfortable.

Now in order to see in the mirror properly, you will move here and there or bend down, which will remind you about your goal.

D. Unusual Wallpaper on your Computer and WhatsApp

In order to achieve your goal, you need to put very unusual or strange background wallpaper on your computer desktop that makes you feel awkward while working on it and reminds your goal. You can put a similar kind of wallpaper on your WhatsApp.

The more you get reminded of your goal, the more you move towards it.

If you practice your goal for 66 days and convert it into an actionable behavior, it will become your habit. This process is called Hedonic Adaptation.
Psychologists say that ’when you perform the same thing repeatedly, it loses its enthusiasm and happiness.’
For Example
When you get a hike in salary, you feel happy for the first 2 months, afterward, it becomes usual for you.
Similarly, when you purchase a new car you feel awesome for the first few months, and then it becomes normal.

3. What Will I Do and When Will I Do?
 

To understand the better ways of how to achieve your goals in life, first of all, you just need to identify at least 5 Critical Success Factors that can lead you towards your goal.

Second, you need to define timelines and practice these Actionables daily.

4. Constant Review Mechanism with the Scoreboard

It is the mechanism to review your progress in achieving your goal on the basis of Effort Score and Result Score.

  • It keeps you on track, and don’t let you deviate from your goal.
  • It will tell what you have to achieve, what are your gaps and how to fill them.
  • Prepare a review mechanism on the basis of the critical success factors and their results.

Effort Score is how much hard work you have put in, while the Result Score is the output of your hard work.

For Example:

How much you run on the treadmill is your Effort Score, and how much weight you lose is the Result Score.

You have to control your Efforts Score to control Result Score.

5. Your Accountability Structure

Among all, it is the most important step to keep yourself moving on the path of success.

You have to make yourself accountable and answerable to someone in order to be focused on the goal. It can be your friend, mentor, guide, counselor, teacher, coach, or partner.

  • You must have a mentor in your life that you can trust.
  • You can share your review structure with him every week. 
  • Every week you have to report your accountability structure along with effort and result score with him.
  • He should be trustworthy enough to share your achievements and failures.
  • You must listen to him and follow his advice.

If you follow these steps, it will your quench your thrust to knowing how to achieve your goals in life and realize your dreams.

Categories
Sales

3 Powerful Techniques to Sell a Product

?Introduction

  • Are you facing the following problems?
  • Stagnation in sales
  • No customer / No retention
  • No new customer / No growth
  • Customers are asking for Discounts / Schemes

Are you looking for perfect techniques to sell a product?

Whether you are an Entrepreneur or an Organizational Leader, one mistake you may have committed in your life – by trying to sell your product or service to customers outside your target audience.

Sometimes, we don’t really pay attention to the fact that every product or service has a specific (focused) customer/client base and a successful entrepreneur/ leader is the one who is able to identify it.

Here are a few powerful techniques to sell a product:

Tip #1: Identify Your Perfect Customer and Target Audience
       

The first important selling technique is to identify your perfect targeted audience.

Think about your product/service you are offering.

Write about ’ who should be your target audience and what should be your perfect customer’s age, income, gender, economic background (rural or urban), and social status (employee, businessman, student, housewife, senior citizen, etc.) 

This will help you in positioning your product/service better and will be the first step towards ensuring that you are on the right track.

Tip #2: Identify Your Right Product Mix

Selling your product to everyone isn’t the right decision, without identifying their product preferences. 

After identifying the perfect customer, find out what is your Right Product Mix. It will help you in designing and developing products/ services specifically for your perfect customer. 

There is no intelligence in pushing a wall, it will not move and you will get tired. Similarly, there is no intelligence in making various products.  So, do not try to make everything. Focus only on what your perfect customer requires.

Sometimes, you will also have to work on Low Focus Products, which is a range of supporting product line along with the main products. 

Low Focus Products are not essentially required by your perfect customer but still are required to bind the customer so that he doesn’t go anywhere else to buy them.

No Focus Product is your dead stock. Remove it completely from your portfolio.

You can make your business strategy through RISIMIS (Ritual of Sixty Minute Solitude) method. 

RISIMIS is a method, wherein, you sit in solitude for 60 minutes every day to churn out ideas and strategies from your subconscious mind, which is impossible during the business of day-to-day life.

Tip #3:  Identify your Value Proposition
 

You’ve identified your right customer and the required product. Now, you need to make the right marketing and communication strategy and selling techniques to sell your product. 

Identify what value your perfect customer will need in the product.

There are 4 quadrants in which the products/services can be positioned’ Emotional | Performance | Financial | Relational. These 4 quadrants are 4 significant techniques to sell a product/service you offer. 

Emotional Value
is created when customers get emotionally bound with your product. This happens if your product becomes aspirational or belief for the customer and he starts taking pride in buying the product. 

Performance Value
is created when your customer is completely satisfied with the performance, quality, durability, and reliability of the product/service he’s buying.

Financial Value
is created by different techniques to sell a product like discounts and schemes to your customers. The product/service may not be aspirational or best in quality and class but people buy because of the discounts and schemes that come along. 

Relational Value
is created when out of your relationship with a customer, you make some customization in the product, or make the product available much before the given timeline, or create delight to your customers by adding some extra features or service benefits.

Categories
Geographical Case Studies

How China Became an Economic Superpower?

??Introduction

  • How China has become the global factory of the world?
  • How China’s share in global output grown from 3% (1990) to 25% (2019)?

China’s mind-blowing growth in the last 3 decades has surprised the world. Today, all the big factories are establishing their manufacturing plants in China, making it the world’s leading economic superpower. 

Till 1978, it was one of the least developed nations of the world.

With a growth rate of 10% in the last 3 decades, China lifted more than 80 crores (800 million) people out of poverty. 

In 1987, China’s per capita GDP was $155, which rose to $7590 in 2014.

A Quick Glance at Chinese Economy’

China manufactures World’s 80% Air-conditioners, 70% Mobile Phones, 60% Shoes, 74% Solar Cells, 60% Cement, 45% Ships, and 50% Steel.

With a GDP of $23.25 trillion, the Chinese economy has emerged as the 2nd largest economy in the world. 

With exports valued at $2.2 trillion, the Chinese economy surpassed the US to become the world’s number one exporter.

90% of USA flags are manufactured in China!

China produces 60% of the branded luxury goods on their land, thus, defying the notion that it manufactures only cheap goods.

10 Differences – India Vs China

Let’s decode the secret behind how china became an economic superpower and how far India lags behind so far:

1. Mass Production and Dumping

Chinese economic reforms helped them scale up their production so massively that its cost of production has come down drastically. It has become home to mass production.

On the contrary, India has become a dumping ground for the massively produced Chinese goods.

2. Competitive Pricing with Reverse Manufacturing

Chinese manufacturers do not waste their resources and energy in innovation.

Instead, they copy the technology from advanced countries and start making their own products. 

It saves their costs and resources on innovation, R&D, and IPR.

On the contrary, the Indian business community does not have global exposure, they still believe in the traditional way of doing business. 

3. Cost-Effective Labour

China has a competitive advantage due to cheap labor owing to a big population. It is a Myth!

Rather, Chinese labor is highly productive. The Chinese government in collaboration with industries worked on the skill development of labou r force. 

As a result, the output of Chinese laborers is many times higher than that of India.

On the contrary, in India, Skill Development has not been implemented so effectively.

As a result, the maximum labour force is either unproductive or less productive.

Indian labour manufactures 10 mobiles in an hour, while Chinese labour makes 50 mobiles in an hour.

4. Experience and Expertise

Over the last few decades, China has become the first choice for setting up a manufacturing unit for companies around the world. 

On the contrary, India has just begun to establish manufacturing clusters which will take time to produce experienced skilled labourers, whereas it has reached each household in China.  

5. Stability

Political stability is the prime reason behind China’s emergence as a popular destination for manufacturing.

China is considered more stable for a global partner in comparison to India due to its political instability.

In India, due to bureaucratic red-tapism, it takes more time and energy to get clearance to start a business, which is why international investors are reluctant to come to India.

6. Education

The most important factor behind how China became an economic superpower is nothing but its education system. 

China has brought major reforms in education by making it more global and pragmatic. 

On the other hand, the Indian education system is still looming around what is known as the British legacy.

As a result, China has a higher literacy level than India and it produces more number of graduates per year as compared to India.  

7. Industrial Network Clustering

China has established a vast network of industrial clusters for manufacturing various products. 

They have developed supply chain cities and clusters for producing a product at a single place.

For example
– for manufacturing mobile phones, they have developed clusters where each and every part of mobile phones is manufactured at a single place.

8. Cost of Power

In China, electricity is available around the clock at a very low price, while in India industrial areas suffer hours of power cuts which affect their productivity, making its way towards becoming world economic superpower more difficult.   

9. World-Class Infrastructure

how china became an economic superpower

Undoubtedly, China has developed world-class infrastructure which is a pre-requisite for developing a manufacturing hub. 

Before beginning a project, China makes a vision for the next 25 years, while India makes project by taking into account the next elections.

10. Chinese Government and Industry Partnership

Chinese government works in tandem with the corporate sector. 

Also, the Chinese government is directly involved in expanding its economic activities in foreign countries.

On the other hand, India’s democracy has been a bottleneck in extending its economic interests in foreign countries.

Thereby, the given points must have helped you understand how china became an economic superpower in such a short time, and why India still has a long way to go to become an economic superpower.

Categories
Motivation & Mind Control

90-days formula to get success in life!

??Introduction

  • Do you want to make a big difference in your life this year?
  • Do you want to get success in life?

Whenever you start something new, you become so desperate to see initial results that if you don’t see results soon, you get restless and lose hope.

In this article, we will discuss a formula that will help you to get success in life with 90 days formula.

Tip #1: Invest in yourself for the First 90 Days

Whether you are a student, job seeker, working professional or an entrepreneur, first 90 days (3 months) are very crucial for starting anything new.

According to the 90 days formula, ’Your first 90 days will decide where you are going in the next 9 months.’

Tip #2: Small 90 Days will Create Tall 9 Months

The first 90 days are going to give you unprecedented results in the next 9 months.

The first 90 days will help you to build a mindset for starting something new while the next 9 months help you to create the skill-set that will help you to get success in life.

Tip #3: Don’t get Demotivated from Small Initial Results

As per the 90 days formula, the initial result of anything is so small that it always goes unnoticed.

For Example :
?

If a person tried a cigarette for the first time and he starts vomiting, then he will never smoke.

However, the initial harmful effects of smoking cigarette are almost negligible. Hence, people ignore these effects and keep on smoking, which later results in cancer or tuberculosis.

You will not get results of your initial actions during the starting days, but don’t give up.

Gradually, it will start giving you unexpected results and you will get success in life.

Power of Compounding Interest

Let us understand compounding interest with the help of an example.

Example
: You have the following options:

1st Option: You will get Rs. 1, which will be doubled each day for the next 30 days.

2nd Option: You will get Rs. 10 crores in one time.

Which option will you choose?

Most of the people will choose Rs. 10 cr. as it seems a very big amount as compared to Rs.  1. Although Rs. 1 seems very small in front of Rs. 10 cr. initially, but when you start doubling Rs. 1 each day, it will become more than Rs. 10 cr. on the 30th day.

Day 1 Rs.1  vs..Rs.10 cr.
Day 5 Rs.16  vs. Rs.10 cr.
Day 10 Rs. 512 vs. Rs. 10 cr.
Day 20 Rs. 5.24 lakh vs. Rs. 10 Cr.
Day 31 Rs. 107 cr. vs. Rs.10 cr.

Due to compounding interest Rs. 1, which seemed nothing in front of Rs. 10 cr. became Rs. 107 cr. 

Similarly, according to 90 days formula, your small efforts will give you big results and you will definitely get success in life.

Story of a King and Saint

Once upon a time, there was a king, who was very humble. One day, a saint came to his place.

King:
How can I help you?

Saint:
I need some seeds of grains.

King:
This is very little; you can demand anything big.

Saint:
I want only a few seeds of grains.

King:
How many seeds do you need?

Saint:
Put one seed in the First Square of your chessboard, and then double it till Last Square. Give me the amount of grain that comes at 64th Square of the chessboard.  

King ordered his people to bring that amount of grain.

After some time, the king’s people said that the amount of grain Saint is demanding has not ever grown on the earth.

Never ignore small results of initial efforts because it gives a big result in the future
Categories
HR & People Management

6 Steps for Building a High Performance Team

??Introduction

  • Do you have to give more time to your business?
  • Can your business run effectively even when you are not physically present?
  • are you building a high performance team?

Why Indian Companies are not able to Develop High-Performance Team?

  • Most of the businesses and Startups in India are failing due to the lack of a team of the talented and high performance team. 
  • A talented team is what needed for an organization to succeed in the long run. 
  • A business cannot be made scalable and profitable without a team of devoted and hardworking employees, which many companies are unable to build.

In this article, you will study about seven important steps that will help you to attract and retain the best talent for building a High-Performance Team.

Step #1: Employee Treatment: Richard Branson Theory

Founder of Virgin Airlines, Richard Branson established the foundation stone of his company on the basis of a philosophy:

’First, train the employees well enough so that anybody can pay them double salary than what are you paying them. Second, treat them well enough so that they don’t leave your organization.’

People don’t like working in an organization, which doesn’t support and encourage them. They quit such organizations sooner or later that hurt the organization’s growth in the long run.

If you want to develop your own high performance team, then you need to develop a culture of personal interaction among employees a connection between the employees and the organization.

Developing a healthy culture in your organization is necessary so that employees can develop trust in you and get an opportunity to develop their skills and capabilities.

Step #2: Show Your Employees a Well Defined Career Path

Lack of a defined career path for employees is the pivotal reason behind the failure of startups in India.

An employee cannot work for a lifetime without getting any career progression and growth.

When an employee observes that he is not going to grow in your organization, he starts thinking of leaving your company.

Hence, for building a high performance team, you need to tell them what will be their next level of designation/promotion to assure that they will be getting growth in your organization.

Build a career path for your employees’ talent progression.

Make their scoreboard as per their performance and support those whose performance is not good.

Step #3: Transparency in Communication

Without transparent communication among team members, building a high performance team in your organization is almost impossible.  

The transparent environment in an organization increases confidence among employees, which instills a sense of security in them and builds a healthy working environment.

A boss should be approachable to employees so that they can share their ideas with him/her fearlessly.

There should be no favoritism in an organization as it fades away the confidence of employees and affects their efficiency.

For Example:

Lijjat Papad is one of the best examples of transparent organization, where every working woman is the owner, and no one is allowed to do backbiting.?

Step #4: Encourage Internal Promotions over Helicopter Landing

Until you do not bestow confidence upon your existing employees you can’t build a high performance team.

Therefore, Before hiring someone from outside, it is imperative to explore internal opportunity to deploy someone on a particular position as it instills confidence among existing employees.

While filing a vacant position through helicopter landing, try to place an internal person through talent progression. If you hire people from outside without giving the opportunity to internal people, they will stop working with full enthusiasm, and create a problem for newcomers.

Step #5: Feeling of Significance

The more you involve with your people, the more they will be committed with you.

Only giving orders, targets, and deadlines don’t work in an organization.

You need to be interested in your employees by making them feel special.

As a leader, for building a high performance team you must make every employee feel significance and ensure that he/she is contributing to the top line and the bottom line of the business. 

But if you reduce their self-esteem and confidence, their performance will get affected, and so will be your business.

Step #6: People Like to Win

Nobody likes to taste failure, everyone wants to win. If you help your employees to win, they will not leave you, but if you let them fail by making them perform tasks which they are not expert in, they will certainly quit you.

You need to ensure that your subordinates win by doing their competency mapping.

Categories
Motivational

Learn Quick Success Formula

?Introduction

  • Do you want to know the secret of a quick success formula?
  • How to increase your speed of implementation? 

All the successful people whether they are top millionaires, billionaires, sportspersons, entrepreneurs, etc. have one thing in common and that is, their Speed of Implementation. Their speed of implementation is very high.

If any of these people find a new idea or knowledge, they do not wait, they implement it immediately. 

Their implementation time is almost zero.

Speed of Implementation is the quick success formula.

Implementation of Information Leads to Transformation

Information will not give you transformation. The implementation of information will give you transformation. 

  • information is not power, it is only potential power. 
  • Knowledge is not power, it is only potential power. 
  • Only applied information and applied knowledge is real power. 
  • If successful people read a book, they implement their learning immediately. 
  • If they watch a video, they implement the learning from it immediately. 

With time, we develop certain patterns and it becomes difficult for us to change these patterns.

You can change these patterns people only through the speed of implementation.

If you keep on implementing your daily learning, then your ability to change these patterns and bring flexibility in these patterns increases.

Start Now!

Sometimes, people try hard to implement certain things but they are not able to do so. 

Here is a solution for this. You can implement your learning only if you implement it immediately, that is, right now. 

If you are waiting for the right time to come, then it has come, it is now. 

Implement it right now. 

Speed of implementation comes with the word now. 

  • Not tomorrow – start now!
  • Not when the season is nice ’ start now!
  • Not when the reason is nice ’ start now!
  • Not when your vacations are over ’ start now!
  • Not when your horoscope is perfect ’ start now!
  • Not When You Are Not There! Therefore Start Now!
  • The best time to start was only yesterday but the next best time to start is right now. If not now, then never.

Steps to Implement the Knowledge

To increase the speed of implementation of a concept or knowledge, you should take the following five steps:

Step #1: Hear
’ First hear the concept. 

Step #2: Understand
’ After hearing, understand the concept.

Step #3: Meditate
’ After understanding, meditate on the concept.

Step #4: Digest
’ Identify the things in the concept that are not important and leave them. Determine the actionable things in the concept.

Step #5: Apply
’ Now, implement the actionable things.  

So, the quick success formula or the formula for success is- the speed of implementation.

As fast as you implement knowledge or learning in your life, as quick as you will grow.

Therefore, start implementing the right here and right now.

Categories
Motivational

3 Tips on How to Stay Focused on Your Goal

Introduction

  • Are you focused on Main Thing or Multiple Thing to achieve success in business?
  • Do you want to know how to achieve success in business by focusing on Main Thing?
  • How to stay focused on your goal?

Some people focus on multiple things at a time, while others focus on only one thing.

 

When you focus on the main thing, your goal will follow you, but when you focus on multiple things, nothing will follow you.

 

Below are tips on how to stay focused on your goal?
?

Don’t Let Multiple Things Distract your Attention

Many people make a list of 10-15 things that they want to do in a day.

 

They keep bouncing between one to another without accomplishing any of them properly.

 

They keep reorienting and disorienting from one work to another.

 

The best way to make your to-do list – divide your day into 2 parts.

8 am to 2 pm- Main Thing (Key Drivers)
2 pm to 8 pm – Multiple things

Between 8 am to 2 pm perform the Main Thing that is your Key Driver and gives 2 pm to 8 pm to Multiple Things.

Multitasking is just a Myth

If you are seeking the ways of how to stay focused on your goal simultaneously being a “multitasker’, then you are running after a myth.

Nowadays, multitasking has become a very fashionable term. From students, working professionals to entrepreneurs, everyone wants to be an expert in many things at a time.

Famous author Steve Uzzell said, ’Multitasking is merely an opportunity to screw up more than one thing at a time.’

Multitasking makes a person orient and disorients from one work to another repeatedly, which decreases his productivity.

For Example :
?If five horses of a chariot start running towards five different directions, then chariot will turn upside down.But, if they run with full speed in one direction, then a chariot will run faster and smoother.

Chariot is like your life, and horses are your 5 senses.

If your 5 senses will perform 5 different tasks at a time, then your productivity will come down.

But, if they stay focused on one main thing at a time, your productivity, efficiency, and effectiveness will be the highest.

Eminent Italian Economist Vilfredo Pareto has strongly refuted the theory of multitasking.

Pareto said, ’Your 20% work gives you 80% result, while your 80 % work gives you only 20% result.’

In other words, your 20% focus on one main thing, will give you 80% results. But if you stay focused on multiple things, you will get neither Main nor multiple things.


Extraordinary business comes from minimum busyness.

You should drive one main focus instead of getting derived by 10 different focuses. 

Multi-Activity vs. Multi-Focus

It is not your capability of performing multi activities at one time that determines how well you have mastered the skill of how to stay focused on your goal.

Because there is a fundamental difference between Multi-Activity and Multi-Focus. One can perform multiple activities physically at a time, but their mental focus cannot be on multiple things.

For Example

You can talk on the mobile phone while walking on the road, but you cannot write your exam while watching a movie.

It is also written in Bhagavad Gita:

Ekeha kuru-nandana bahu-sakha hy anantas ca

 

Ancient Hindu scriptures also confirm that ’The intelligence of those who are irresolute is many-branched.’ It means Focus on multiple things doesn’t help you attain your goal.

Bouncing between multiple works and shifting the orientation results into 40% of quality loss.


When you shift your mental orientation frequently, your efficiency level goes down and productivity gets reduced.