Tag: bada business

Categories
Process & Business Expansion

How to win a tender

Introduction

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

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

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

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

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

Types of Tendering

Open Tendering
 

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

The biggest benefit of Open Tendering can be summarized as;

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

Advantages of open tendering:

?  Wide variety of applications

?  More choice and more chances of negotiating

?  No favoritism

?  Newcomers can also participate

Disadvantages of open tendering:

?  Long Complicated Process

?  Time-consuming

?  Money consuming

Negotiated/Selective Tendering

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

Advantages of negotiated/selective tendering:

?  Less time consuming

?  Less money and energy spent

?  Industry experts

Disadvantages of negotiated/selective tendering:

? No opportunity for new entrants

? High Favoritism

? Less negotiation power

10 Tips to Win a Tender

Tip #1: NICE Analysis

It is one of the tips to win a tender.

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

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

?

Tip #2: Verify the Information

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

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

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

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

Tip #3: Client-Focused Compelling Story

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

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

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

Tip #4: Relationship Can Amplify Your Possibility of Success

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

This creates a better understanding and helps in getting tender.

A good relationship creates trust and makes decision making fast.

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

Tip #5: Secure Your Gross Margin

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

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

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

Tip #6: Don’t Be Afraid to Ask

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

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

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

Tip #7: Collaborating for a Stronger Big

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

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

Tip #8: Excellent Presentation

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

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

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

It is one of the tips to win a tender.

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

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

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

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

Tip #10: Don’t’ Lose Faith

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

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

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

Categories
Powerful Personalities

Business Training by Dr. Vivek Bindra

Introduction

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

Categories
Motivation & Mind Control

How to Build a Process-Oriented Organization

स्मार्टफोन
स्मार्टफोन

?Introduction

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

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

Difference between Personality-Oriented and Process-Oriented Organization

Personality-Oriented Organization

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

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

Convert Personality-oriented Organization to Process-oriented Organization

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

For Example

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

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

How to Save Yourself from Negative Brainwashing

Introduction

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

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

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

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

How does Brainwashing work to Influence Your Behavior?

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

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

For Example

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

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

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

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

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

? Do not let the wrong person wash your brain.

? You should wash your brain yourself and consciously.

How Does Mind Works?
 

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

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

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

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

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

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

How Subconscious Mind Drive Your Decisions?

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

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

Types of Advertisements Used to Brainwash the Minds of People

?

Trinity Surrogate Advertisement

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

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

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

? Subjective

? Lacks logic

? Cannot be measured

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

For Example

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

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

Emotion is New Logic; Logic is no more a Logic

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

How to Save Yourself from Brainwashing?

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

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


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

samudram ?pa? pravi?hanti yadvat

tadvat k?m? ya? pravi?hanti sarve

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

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

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

? Do not live your life unconsciously.

? Take correct actions consciously.

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

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

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

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

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

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

Categories
Business Case Studies

How to Make your Business Successful

?Introduction

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

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

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

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

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

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

Vision and Mission

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

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

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

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

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

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

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

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

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

Vision and Mission are the keys to a successful business.

Objectives, Strategy, and Action Plan

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

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

For this, you need to answer the following questions:

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

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

Values
 

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

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

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

For Example:

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

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

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

Vision and Mission Statement

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

Elon Musk’s Tesla Motors

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

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

There are 3 important components to it.

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

Microsoft

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

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

Amazon

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

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

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

Intel

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

P&G

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

Google

MISSION
– ’Organizing the world’s information.’

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

Nike

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

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

Hindustan Unilever Limited

MISSION
– ’To add vitality to life.’

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

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

Burger King

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

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

Facebook

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

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

Let’s quickly summarize it-

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

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

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

For Example:

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

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

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

Categories
Sales

How to increase sales through Upselling and Cross Selling

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

Introduction

  • Does your business have leakages affecting your sales?
  • Do you want to increase your sales overnight by 30-50 percent?
  • Do you want to increase your sales through upselling and cross-selling?

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

Which one would you Adopt? Cross sell vs upsell

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

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

Increasing your Sales through Cross-Selling

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

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

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

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

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

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

Some examples of cross-selling are as follows:

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

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

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

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

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

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

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

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

Upselling involves subtle manipulation.

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

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

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

Categories
Process & Business Expansion

How to Grow your Business from 1 Store to 100 Stores

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

Introduction

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

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

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

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

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

1. Arey Waah – Low-Cost Marketing Ideas

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

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

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

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

2. GHTC – The core values of Poojara Telecom

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

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

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

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

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

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

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

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

4. Right Manpower Will Make You Superpower

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

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

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

Some of the employee benefits practiced at Poojara Telecom are:

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

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

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

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

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

Categories
Process & Business Expansion

How to Expand Your Business

?Introduction

  • Do you want to expand your business?
  • Do you know how to expand your business at a low investment?

In the last century, the business was done in the traditional way wherein a businessman needed to develop the whole business. However, with the advancement in technology, the way to do business has changed.

Now, you need not develop the whole business. You can convert a small idea into a big conglomerate.

In this article, 6 case studies of renowned companies will articulate you how to expand your business. They didn’t do everything by themselves. Instead, they made one thing their competitive strength and spread their business all over the world.

Case Study -1: Apple iPhone

No one knows better than Apple, the world’s most premium mobile manufacturing company, how to expand business across the world without increasing expenditure. 

Apple manufactures zero mobile of their own. Each and every part of Apple’s mobile is manufactured by a different company. For instance,

  • Batteries of Apple phones are manufactured by Samsung in South Korea
  • The display is outsourced to Japan Display & Sharp Electricals in Japan and LG Display in South Korea
  • Flash memory is made by Toshiba in Japan and Samsung in South Korea, etc.

The main reason behind the success of Apple is that they focused on the asset-light model by outsourcing the manufacturing part to different companies all over the world.

Had it been manufacturing all parts on its own, it needed to spend a lot of capital, manpower to establish and manage its manufacturing plants, which would have made it difficult for the company to spread all over the world.

Therefore, instead of manufacturing different parts, they have focused on innovation and building their strength to get a competitive advantage.

Case Study -2: WhatsApp

WhatsApp, the world’s largest internet-based messaging services provider, has no server of its own. It uses the fly light model, which is one of the ways to how to expand your business. 

Before creating WhatsApp in 2010, Brian Acton and Jan Koum went to get a job in Facebook but they were rejected.

As Facebook felt the warmth of mind-blowing success of WhatsApp, it acquired WhatsApp for $19

billion in 2014.

Case Study -3: AIRBNB

It is another case study which shows how to expand your business.

AIRBNB, the world’s largest accommodation provider, possess zero property in their own name.

They are the first one to directly connect consumers with consumers (C2C).

They earn 10% commission from property owners (i.e. hotels) and 3% on each successful transaction from customers.

Flying on the asset-light model, now, more than 2 lakh people are daily booking hotel rooms through AIRBNB globally, making it 30 billion-dollar company.

Case Study -4: Facebook

Despite having zero content of their own Facebook has emerged as the world’s largest content management company.

Today, Facebook has more than 2.27 billion active users around the globe.

However, Facebook didn’t become what it is today in one day.

Initially, it was created by Mark Zuckerberg as a site, ’Hot or Not’, during his college days, which was a failure.  

From past debacles, Zukerberg learned better how to expand business as he dropped out of college to start Facebook in 2004. 

Learning from his previous failures and understanding the market need, Zuckerberg brought many massive changes in it.

Case Study -5: Uber

It is a case study of how to expand your business.

With no taxi of their own, Uber, has become the largest taxi service provider in the world.

By connecting the taxi owners with travelers, not only they made traveling hassle-free, but they generated hundreds of thousands of jobs around the world. Currently, it has 2 million drivers globally with 50,000 drivers joining it per month.

Case Study -6: Alibaba

Alibaba is the largest network of sellers and buyers. It is the world’s most valuable retailer with zero inventory in its own name.

To scale up the business, Alibaba created its own payment portal. Now, they don’t need a third party for payment gateway.

  • It focused on its strength and innovation.
  • Currently, it has 600 million consumers across the world.

In the above case studies, you have observed that the success of a company depends on how easily it can expand in the different parts of the world. To do so, your business should be based on the asset-light model.

 

If you want to expand your business all across the world, then make it scalable, make it light enough to fly high in the sky.

If you are an entrepreneur or planning to start a business these case studies will undoubtedly help you know how to expand your business with the help of asset-light model. 

Categories
Motivational

How to handle difficult situations in Life

??Introduction

  • Are you not able to handle difficult situations in your life?
  • Do you want to become strong in tough times?
  • Do you want to know how to handle difficult situations?

You must have confronted many difficult situations in your lives, which could have made you strongly mental or mentally strong.

Out of difficult experiences, some people become strong enough to tackle all adverse situations coming their way.

On the other hand, some become so disappointed that they abandon their goal statement or may commit suicide.

Here are some ways on how to handle difficult situations in your life.

MAPS of New Options

It is one of the ways to how to handle difficult situations.

You can never get new results by doing the same things that you been doing the past.

If you want new results, then you have to think of new options. You have to build a Massive Action Plan of New Options.

A (Massive Action Plan) + B (New Options) = C (Success)

Even if you choose new options, but do not take massive actions, then there is little possibility of success.

Similarly, if you take massive actions with hard work, struggle, and commitment with old options then your chances to succeed are rare. 

Failing is Not a Problem

Failing is absolutely normal, but failing twice in the same thing is more than a problem.

There is no problem in committing a mistake but never commit the same mistake twice.

Example:
Facebook didn’t become Facebook in one go. Initially, it was just a site ’Hot or Not’, which was a big failure. But learning from their past experiences, they brought many massive changes in it by understanding the people’s behavior and launched Facebook.

It is a way to how to succeed in a difficult situation.

Become Warrior Not Worrier

?After a few failures, many people get fed up and abandon their goal. They lose hope; keep complaining about their failures and become strongly mental, which brings nothing but more negativity in their lives in place of success.

No one gets 90% success in the first time in their life.

Such people need to make a new strategy with a massive action plan with new options.

It is another way how to succeed in a difficult situation.

Bring New Options in Your Life

Now let’s talk about how to handle difficult situations by imbibing something new in life.

Instead of losing hope after a failure, try to find out new ways to achieve your goal.

  • Don’t focus on your past, as its meaningless and mindless distraction.
  • Focus on new options which are meaningful for your future endeavors.

Don’t Sit Back, Only Step Back: Learn from Mistakes

Setbacks will definitely come in your life but don’t sit back.

Whenever you get a setback in life, don’t sit back, only step back to take a new step by finding new options.

Prominent scientist Thomas Alva Edison after failing 9,999 times said, ’I have not failed 9,999 times, I just learned 9,999 ways, which cannot make a bulb’.

’Don’t Blame, But Change the Game.’

Undeniably if you follow the above-given tips on how to succeed in a difficult situation you will achieve your all goals. 

Categories
HR & People Management

How to Implement Cultural Change in an Organization

?Introduction

  • Do you know the significance of changing organizational culture in your company?
  • Do you know how to implement cultural change in an organization?

A negative working environment leads to a decline in the employees’ engagement and satisfaction rate in the organization. People talking negative things about your organization, spoils your organization’s productivity, growth, liquidity, and profitability.

In such circumstances, the only remedy that comes across is changing organizational culture of your company to overcome negatives vibes.

In this article, we will discuss how to implement cultural change in an organization so as to convert negative working culture into a positive one.

Below are the ways for changing organizational culture:

Effective Leadership

To know how to implement cultural change in an organization, you need to understand the importance of a leader and leadership.

A successful leader is the one who recognizes people’s worth and potential in such a way that they start recognizing their own worth and potential.

If a leader sees only negative things in its employees, then the employees will also start seeing negativity in them that directly affects their productivity and the organization’s profitability.

Pygmalion Effect

It is also one of the ways for changing organizational culture.

When you start expecting positive and favorable things from your employees, then you start creating a positive interpersonal relationship and culture with them.

Managers should praise their subordinates for their good work and criticize them less for making mistakes. They should increase employees’ confidence and boost theirs and the company’s productivity.

For Example
 

With the help of example of school students, let us understand how changing organizational culture helps in maximizing the results. 

In a school, the Principal divided the students into three sections, A, B, and C based on their grades to increase the academic performance of students.

Section A had students who got 80% in their last exams, Section B had students who scored 60% to 80%, and Section C had students who get less than 50% in exams.

Even after this categorization, the results of the student remain the same. So, the Principal came up with another idea to change all the teachers.

The newly hired teachers were not aware that the students were categorized based on their grades. Instead, the Principal told them that Section A students are very poor, Section B student is average and Section C has toppers of the class.

Because of such guidance, the new teachers had a new kind of perspective as they taught students of section A as they were very poor in studies, while they taught students of sections C as if they were so intelligent.

They showed confidence in students of section C thinking that they were A grader, which enhanced their confidence and led them to perform well. While students of section A, who were actually good performers, were demoralized by teachers because teachers thought they were poor in studies, which lead to a decrease in their confidence.

At the end of the year, students of section A came down to 60% from 80%, students of section C jumped from 50% to 70%, while that of section B remained at the same level.

The reason behind the increase in the percentage of students of section C was the confidence teachers showed in them, which increased confidence in them. 

Effort that is rewarded, gets repeated.

How to implement cultural change in an organization through the treatment model?

Let’s discuss!

Negative Treatment Model

If you have a negative assumption about the capability of a team member, you will have negative reactions to his/her ideas. It leads to negative treatment, which results in eroded confidence, low morale, and lack of initiative among employees.

Positive Treatment Model

When you believe in the capability of your team members and start recognizing and respecting their ideas, it leads to positive treatment. It leads to high confidence and high morale in them. Such employees take initiatives continuously and help in the growth of the organization.

Recognize, Reform, Rectify the potential of your employees instead of Comparing, Complaining and Criticizing them.