Categories
Process & Business Expansion

Importance of Distributor Selection Criteria

Distributor Selection Criteria

Introduction

  • Do you want to know how to select a distributor?
  • Do you have proper distributor selection criteria?

If you want to expand your business in the whole country, you should have a good distribution network. You should have a big distribution network including distributor, wholesaler, retailer, and dealers.

Partner or Distributor Selection Criteria

How can you grow exponentially with the help of proper criteria for the selecting and appointing distributors?

Selecting and appointing distributors involves the following activities:

  • Conduct the due diligence of your partners or distributors accurately.
  • Understand the pattern of the sales success and financial pattern of your partner or distributor.
  • Check the balance sheet of the distributor.
  • Check the profitability and Earnings before Interest, Depreciation, Tax, and Amortization (EBIDTA) of the distributor.
  • Determine the amount of cash and debt of the distributor.

If your distributor is in debt, he will try to come out of debt with your help while you are seeking his help to succeed.

In such a case, both of you won’t be able to succeed. So, distribution channel selection criteria play a vital role in the success of your business.

Recruitment Process Manager or Channel Partner Manager

Along with a strong distribution channel selection criteria, you need to establish a recruitment process to expand your business in the whole country.

Hire recruitment process manager. He/she will perform the following functions:

  • Check and search channel partners in all the territories of the country.
  • Understand the succession planning of different territories.
  • Identify the distributors and retailers who can replace the existing non-performing distributors and retailers.
  • Collect the professional relationship data of distributors and partners.
  • Forecast the sales of the company from different territories.
    Forecast the manpower required in different territories to expand the business.

Recruitment Package

  • Provide great offers and a total solution to the distributors and partners. Give proper training and services to the distributors and partners.
  • Make an exciting price catalogue for the distributors and partners so that they can estimate their Return on Investment (ROI) easily.
  • Provide demo team support and marketing support to the distributors and partners.
  • Show your media plan support, product customization feature, and testimonial references to the distributors and partners.
    Provide guarantee, warranty, free samples, scheme, and incentives to the distributors and partners.
  • Understand the business of your retailers and distributors.
    Identify how your retailers and distributors are earning and losing money.
  • Provide a clear goal to your distributors and partners.
    Provide an up-selling incentive to your distributors and partners.
  • Invest some money and time on distributors and partners by attending their family functions, conducting corporate lunch, etc. to build healthy relationships.

In some businesses, you don’t require a distributor or retailer. You can go online or build some alternative channels to reach your customers. You need to understand which channel is required in your business.

Categories
Motivational

How Successful People Become Successful

Introduction

  • How successful people become successful?
  • Do you know how to get successful?

Why only small proportions of people become successful?

Because according to a survey 95% of people are busy in proving themselves and only 5% are improving.

Proving is said to be the result score, and improving is said to be the effort score.

Proving is only the outcome; so, you should focus on improving.

Is there a Need to Change! Why?

Japan introduced a word
’KAIZEN’.

KAI means ’Change’ and ZEN means ’Good.’

So, KAIZEN means change for good.

It is the key to the competitive success of Japan in the World.

When America was busy gaining royalty for what they were doing, Japan was busy gaining loyalty. As a result, people say that American products are good but they buy Japanese products.

People who focus on royalty, neither gets loyalty nor get royalty.

People in Japan have implemented KAIZEN everywhere. They have used the ABCD model for the implementation of KAIZEN.

Meaning ABCD: A= Zero Accident | B=Zero breakdown | C= Zero Cost of wastage| D= Zero Defect

KAIZEN means continuous improvement starting from the manufacturing to all the business processes. They continuously improve all these processes and are reducing the defects. This is how successful people become successful.

The most notable feature of KAIZEN is that big results come from many small changes accumulated over a period of time.

Based on KAIZEN let’s discuss about a few crucial tips to be successful in life.

Ritualistic Continuous Improvement (RCI)

RCI is the surest way to almost zero defect life.

Ritualistic

It means you have made it a ritual. You are going to do it everywhere you go, every time and in every circumstance.

Continuous

It is not an activity, it is a process. You need to do it over and over again.

Improvement

It will work on improvement.

So, if you are continuously improving yourself and make it your ritual, then you will NEVER FAIL.

how successful people become successful can be understood better with example as below:

Example

Sachin Tendulkar and Vinod Kambli used to play together.  Vinod Kambli was a better player than Sachin during that time. But, one day, when a slower bouncer hit Vinod Kambli on his helmet, he quit playing.

On the other hand, Sachin was hit on his body many times but he stood up each time. He continuously worked on improving himself and today, he is called the God of Cricket.

Success Mantra: How fast are you creating your Success Rituals?

People are rewarded in public for what they are practicing in private. This is called Ritualistic Continuous Improvement (RCI).

It is the common reason of how successful people become successful or the failure of every person. Those people who are continuously improving themselves are successful and those who are not improving themselves continuously have faced failure.

GKI – Gap between your Knowledge and Implementation
Are you implementing the knowledge and the frameworks that you study or create?

Are you making your actionable or not? If you are not implementing your knowledge, then this is the GKI.

If you want to grow or become successful in life, start filling the gap between your knowledge and implementation.

I Know Better (IKB) Syndrome is a new disease that is surrounding many people around them. This is the biggest reason for their failure.

Categories
Business Case Studies

How to Start Quick Service Restaurant?

Introduction

The idea of starting a food restaurant, definitely, would have crossed your mind once in a lifetime. Isn’t it?

But are you confused,

  • Whether to start a QSR or FSR?
  • How to start a quick service restaurant in India?
  • Which, QSR would be more successful?

 

If you have decided to start QSR, then how to start it and make it successful would be your next objective!

No need to be confused further. Here we will discuss the ways how to start quick service restaurant and make it successful?

 

How QSR Differs from FSR?

Quick Service Restaurant (QSR) offers fast food at a reasonable price and minimum time. The concept of QSR is evolving fast because today, people neither have time nor patience.

In QSR, the fixed menu is prepared in bulk in the semi-cooked form so that whenever the customer requires they can provide the food in minimum time while maintaining its quality.

Full-Service Restaurant (FSR) offers complete cuisine, like Chinese, Thai, Indian, Continental, etc. It is good for fine dining and it is comparatively expensive. Here, people come to spend some time and eat lavish, and so, the ambiance is also designed accordingly.

Full-Service Restaurant usually does not prepare a lot of food in advance because of the variety they offer and hence, it takes time for them to prepare food.

Reasons for the Success of QSR

Starting a Quick Service Restaurant (QSR) has become a norm. Why this is so? Let’s see the reasons for its success of QSR:

  • Limited Menu.
  • Semi-cooked food items (Repetition of the same items).
  • Franchisor and Franchisee both are easily available in the market.
  • The actual cost per meal is less due to bulk production and bulk cooking.
  • Easy to replicate; so, sales volume increases.
  • Outlets are ready whether it is Mall, Railway station or Market Area.
  • Delivers tasty food within minutes.

 

How to Start Quick Service Restaurant?

Below given are 10 Tips to start a successful Quick Service Restaurant in India:

Tip #1: Innovation in Product and Process

Quick service restaurant industry needs continuous innovation in cooking and process of cooking.

Example:

Burger Singh delivers the Burger as other fast food restaurants do but with a different name and taste, viz., Chana Burger, Rajma Burger, Keema Pao, Patiala Shahi, Amritsari, Udta Punjab, etc.

Do not present a food recipe in a simple way;

try to represent them in a different way.

Tip #2: Use of Technology

Today, your business processes should be digitalized to make it successful. In a QSR, use of software and technology helps in – Taking Orders, Billing, Inventory holding, Backend support of Supply Chain Management, and Managing things in a better way.

Tip #3: Standardized operations for Progression

In QSR, you must have-

  • Centralized Procurement
  • Receiving Supply- 1. Good quality 2. Timely Delivery
  • Stocking and Inventory Management- 1. Fast Product 2. Slow Product 3. Non-Moving Product

Tip #4: Quality Control and Continuous Audit

You must have quality control at each and every department of your QSR business whether it is- Cooking, Delivery, Packaging, Services or Billing.

Do a proper audit of every outlet as well as Mother Kitchen.

Also, take care of following things -Hiring, Training, Handling Complaints, Making Reports, Quality Service, Safety, Cleaning, and Maintenance.

Tip #5: Retention of Quality Manpower at Affordable Rates

To be successful in quick service restaurant in India, you should retain quality manpower at affordable rates.

You need not hire an executive-level chef or a celebrity chef because food recipes and ingredients are already fixed. So, try to retain good staff at an affordable cost.

Categories
Motivational

How to Connect With Anyone

Introduction

  • Do you want people to trust your brand?
  • Do you want to become an Effective Communicator?

Well! We all want that. Isn’t it?

But, do you know that without building the ability to Convince and Influence people, you won’t be able to communicate your Unique Value and Ideas to the World.

Let’s read further to know those 3 Powerful Tips on How to connect with people by which you will be able to Easily Impress, Convince and Inspire those around you.

In this article, we are sharing 3 ways to connect with people, which will enable you to impress and convince anyone.

Tip #1: Become a Connector Detector

Business is Logical but People are Emotional. Every Person has a Connector. All you have to do is ’ find the Connector!

There is always a way to connect with people.

You might have seen Security Guards and Policemen using a Metal Detector to Detect Metal.

Similarly, you will have to Detect a Connector in People to be a Connector Detector.

For Example

If a person comes to a mobile shop and says, “The battery of the phone drains off easily”. Now this problem is a connector because the battery problem is causing a problem to the customer.
OR,
If there is a person who comes and says, “The phone hangs a lot”. Now this problem is also a connector. Do not let this connector go, just hang on tot it and hold it tightly.

 

Make sure that you do not go into the Auto-Biographical Listening
it is not about communication; it is about Comm-you-nication.

It is not about informing people, it is about involving people.

Every person has their own Needs, Interests, Concerns, and Expectations (N.I.C.E) and from these set only you get the Connector.

You don’t have to find a connector that will be from your life, find it from other’s life.

You don’t have to be interesting; you need to be interested in other people’s interests or problems. The moment you get interested in someone, the other person starts feeling connected with you.

  • You cannot influence people by just talking about you.
  • To influence or convince others you need to make them know that you are interested in them.

The connector could be from anything, viz., Sports, Music, Movie, Tech & Gadget, etc. You do not have to delve deep into this. Rather you just have to catch the first two-three lines to find the Connector.

Once you have find the Connector, Just Repeat it!

How to Connect With People Through Parroting & Paraphrasing

The most powerful techniques in finding a Connector are Parroting and Paraphrasing.

The moment you find the Connector, quickly do Parroting and Paraphrasing to Repeat it.

When one person says something and you repeat it, the other person feels connected with you. He feels happy and comfortable.

So, the first step to convince anyone is to get connected.

Tip #2: RAPP Analysis

Meaning: R= Recreation | A= Aspiration | P=Profession | P= Problem

How to connect with people better by doing RAPP Analysis of people?

Once you get connected with the other person, now you can dig deep into their life. Now you need to talk with:

Empathy? not with Sympathy?

In this, you need to know:

What makes the person happy, excited and what gives him recreation?

This depends on your intent and not content, the deeper you go, the better it is for you.

What is Auto-Biographical Listening?

Example 1:

If you show your mobile to someone, he comments ’you have only 4GB RAM, this is nothing I have 6GB’

Example 2:

If you say, I walked for 3 Km, he says, this is nothing to what I used to walk.

So, the above examples show why people are unable to connect with each other.

Through this process of understanding the problem of the person -NICE analysis ’ you can better understand ways to connect with people, anywhere instantly.

Tip #3: Building a Lifetime Impression
How to connect with people better by building a lifetime impression in people’s mind?

Impression means pictures, and when you create a very good and strong impression in one’s mind then you can have very good communication with the person. So, even if you think that you are unable to