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.
Categories
Process & Business Expansion

How to increase market share

??Introduction

  • Do you want to know how to increase market share?
  • Do you want to take your business to the next level?
  • Do you want to monopolize the market?

If you are struggling to get your business on track or want to know how to increase market share to compete in the market, this article is going to help you a lot.  

It will not only help you to increase your market share but to monopolize the market as a whole.

Do not Compete, Monopolize the Market

This point will help you to know how to increase market share. 

In a competitive market, you have to struggle to increase your market share. However, in a monopolistic market, you get the 100% market share and competition becomes null and void.

Instead of Improving Your Weakness, Improve Your Strengths 

If you keep focusing on improving your weaknesses, even after endless efforts you won’t be able to reach 100% perfection. But, if you identify your unique signature strength and focus on improving that strength, you will attain 100% perfection quickly.

For example:

If you get 3/10 marks in public speaking and 7/10 marks in article writing, then public speaking is your weakness. If you try to improve your public speaking, then it will take a lot of time and effort to reach 10/10.

On the other hand, if you focus on improving your writing skills, then it will take less effort and time to reach 10/10 from 7/10, as you are already good at it.

Thus, in business, you should keep on working on your unique signature strength. This will help

you to increase your market share.

Become Unique Not Best

?’If you try to be the Best, you will become number one. 

But, if you try to remain Unique, then you will be the Only One.’

If you become the best, you will have the largest market share. But, if you become unique, 100% market share will be yours.

For example:

?If you are not good at cooking, then it will take so much time and energy to improve it a bit. You will feel difficulty in improving it as it’s not your area of interest and part of your psychophysical nature.

But, if you are good at motivational speaking and you invest the same energy and time in it, then you can improve it quickly. You can become a master and mentor in this area and will be recognized for your talent all over the world.

Outsource Your Weaknesses

If you are weak in cooking food, then instead of wasting your time and energy in improving it, just outsource it, and focus all your energy in your strength. 

The same goes for business, rather than investing all your resources in improving a weak area, just get it done by others and focus all your energy in improving strong areas to increase your market share and become unique enough to monopolize the whole market.

Identify your Unique Signature Strength

If you will create another Facebook or WhatsApp, no one will use it. Original property registry comes for thousands of rupees, but the photocopy has no value. Don’t try to copy others, instead try to be original. 

  • Don’t Copy Success
  • Break the Rules
  • Change the Rules
  • Create new strength
  • Focus on strength

You Were Born Original, Don’t Die Like a Copy
 

Since childhood, you are trained to improve the areas in which you are weak. Leave that old notion, now the rules have changed, today you can make a career in any field. You just need to identify your unique signature strength. The market has evolved in the digital world. Whatever is your strength, it can become your career.

’Stop trying to fit in; when you were born to stand out.’

Times have changed, now, you don’t need to become a doctor, lawyer, engineer or chartered accountant: you can become what you believe in.

Categories
Process & Business Expansion

How to Develop a Business Model to Make Loyal Customers?

Business Model

Introduction

  • How to develop a business model?
  • Are you unable to developing an effective business model?

You might be a budding entrepreneur and like other successful entrepreneurs, you also might be vying to establish a successful business.

But, are you too struggling to develop an effective business model?If yes, then this article is a must-read for you.

If you too are looking for ways of how to develop a business model, then the “ABCDE Model” as we have created, is going to help you out as much as never before.

What is ABCDE Model?

A = Analyze || B = Brainstorm || C = Create || D = Deliver || E = Evaluate

Let us look at all aspects of the ABCDE model one by one.

Analyze

For developing an effective business model you need to analyze your target customers and the target geographical area.

You need to put your feet in your customer’s shoes to understand their behavioral pattern and their needs.

It is then only you will be able to strike the right chord of your customers.

Brainstorm
Analyzing is followed by brainstorming the gathered data along with your team to understand the customers’ needs.

A small survey can be done in the market to understand your customers’ needs.

You have to do an assessment of your target customers by asking them questions.

On the basis of analysis of those surveys and responses, you have to create your product or service.

Create
After understanding the customers’ needs, and developing an effecting business model, you have to establish your factory or business to start production of the desired product or service.

Many entrepreneurs think that the success of their first product will either make them millionaire or doom them.


While producing your first product, keep in mind that the first product is never your final product. It is only meant for testing and not for success.

So, you must be prepared for the first failure!

But, you must analyze ‘why the first product failed?’ and improve accordingly.

Deliver
After producing a product or service, your next step should be the delivery.

You need to select a proper channel to deliver and distribute your product or service to the customer in a cost-effective manner.

Evaluate
Now, as you have delivered your first product, it’s time for you to evaluate your product by getting customers’ feedback.

It is also called testing, measuring, and adapting.

You need to assess whether you have achieved Customer Delight or not.

If not, then you have to bring changes in your product accordingly.

You have to improve your solution architecture repeatedly to reach Customer Delight, which is a continuous process.

If you genuinely adopt the “ABCDE Model”, you will never have a question like how to develop a business model that can take you to the level ahead.

Categories
Business Case Studies

Lijjat Papad Company – A Story of Women Empowerment

Women Empowerment

Introduction

  • Do you want to know how the Lijjat Papad company led to the empowerment of women?
  • Do you want to know how the cooperative movement can lead to scalable business?

Lijjat Papad Company was started in South Mumbai by seven women on 15th March 1959.

They started preparing papad at an operational cost of Rs. 80 and made a profit of 50 paise.

They kept on increasing their manpower (which included only women).


Lijjat Papad Company did not have an owner; they made everyone an owner. This is called cooperative movement.

In cooperative movement, if there is a loss or a profit, it will be for everyone. So, let us study some of the vitals of the Lijjat Papad business.

Empowerment of Women

Lijjat Papad Company has encouraged the housewives to use their cooking skills and become the owner of an organization. These women started earning between Rs. 10,000-15,000, which lead to the empowerment of women from a disadvantaged background.

Lijjat has provided respect to women. Some of the women of Liijjat were able to make their children study in AIIMS and IIT. The women working in the Lijjat Papad Company are called Lijjat sisters.

Built a Strong Channel

Every day, Lijjat sisters are picked up by a Lijjat Papad Company bus from their homes to the Lijjat branch center, which has three windows:

(i) Deposit Window

At this window, the Lijjat sisters deposit the Papad made by them. After receiving the Papad, a quality check is done and the Lijjat sister receives a deposit slip.

(ii) Payment Window

Lijjat sisters show the deposit slip at the payment window and get their daily wages.

(iii) Collection Window

At this window, Lijjat sisters get the kneaded dough to make more Papad.

After collecting the dough, the Lijjat sisters get back into the buses that drop them at their homes.

Standardization

The Branch head of a Lijjat Papad Company center is called “Sanchalika”. She gets the full training from the company and an aluminum rolling board.

This rolling board is standardized. It keeps the shape, size, weight, and thickness of a Papad standardized.

Standardization in the Papad is the reason why 4.8 Billion Papads made by 45,000 Lijjat sisters all over India have similar tastes.

Network

The Cooperative Movement triggered by women entrepreneurs led Lijjat Papad Business to spread their legs to 82 branches in 17 states of India. Today, they export papad worth Rs 80 crores in 25 countries. They have a turnover of Rs. 1600 crores.

They have also come up with different products like masala, Mirchi, soap, detergent, and readymade chappati.

They are able to expand their business because of their stringent sourcing policies.

They maintain standardization in their raw materials like asafoetida (heeng), black pepper (kali mirch), and urad dal by bringing them from specific places.

They never use machines for making Papad. Whenever they need to expand, they increase the number of Lijjat sisters.

They distribute the profit among the Lijjat sisters. They have a profit-sharing model.

As a result, they are able to bring unity among the Lijjat sisters and are ready to work extra for the company.

Maintain Transparency
Lijjat Papad Company has strong foundational policies. It has 0% gossips and 100% transparency policy.

In this policy, whispering and politics are not allowed and if someone wants to say anything then they have to say it aloud.

As a result, a common purpose and vision are designed for the empowerment of women for poor communities to increase their economic participation.

Strong Vision

Octogenarian Jaswantiben Jamnadas Popat is the co-founder of Lijjat Papad Company. If she had wanted, she would have become the owner of the billion-dollar company.

But, she wanted to empower the women and give them respect so that they can make their children study.

From starting, the business model of Lijjat Papad Company is business-oriented instead of NGO oriented.

They have a sound foundation of accounts and finance. They have focused on sales, marketing, branding, and promotion from starting.

They have standardized the sourcing and the quality, size, and shape of the Papad.

They have never accepted donations instead they have given donations. They want to keep their cash flow statement positive.

So, they keep their accounts and finance so strong that they have never taken supplies on credit and they make the payment of suppliers instantly.

Also, they have never given goods on credit to their distributors. They take instant payment from the distributor. They make daily payments to Lijjat sisters.

Maintains Career Growth
The growth of the Lijjat sisters is also very transparent. They join as a roller and then gradually go through various departments to become the Branch head.

After promotion, the Branch head is posted to the corporate office of Lijjat Papad Company in Mumbai where she becomes a member of the committee. This committee has 21 members who govern the whole business.

Among these 21 members, some become the treasurers, some vice presidents, and some presidents.

This committee conducts weekly and monthly review meetings- branch wise, department wise, division wise, and product-wise.

Quality Control

Lijjat Papad Company also has a quality control team branch wise. One member from the quality team visits the home of Lijjat sisters to ensure that they are using all the quality parameters while making the Papad.


The coming period is not good for Lijjat Papad Business because today is the time of innovation, automation, process orientation, and Blue Ocean.

Any big businessman can purchase machines for rolling and making Papad with the help of only 450 women.

He can give growth, promotion, incentive, and training to the talented manpower and can make Papad at high speed and grow the business rapidly through a scalable model.