GARY HAMEL - a very well known business thinker

Hi guys,  how are you all? In a business as you see , you have to know about some of the important names and what contribution they have done in the particular field to improve it. One of the names like that is GARY HAMEL.

Gary Hamel is one of the well known business thinkers of the world... He has introduced many things.. one of them is the "CORE COMPETENCE" and other concepts are "STRATEGIC INTENT", "INDUSTRY REVOLUTION" and "MANAGEMENT INNOVATION". You should know all these concepts to run a successful business.He has worked with leading companies across the globe. He is the director of the MANAGEMENT INNOVATION EXCHANGE.

He has written a lots of articles as much as 17 articles for the HARVARD BUSINESS REVIEW, which has been reprinted most times and named him the most REPRINTED AUTHOR and have been translated over 25 languages all over the world.


"THE SINGLE BIGGEST REASON COMPANIES FAIL IS THEY OVER INVEST IN WHAT IT IS, AS OPPOSED TO WHAT MIGHT BE"
                                                                                     - GARY HAMEL

He has written a lot of books like :
                                                         1. THE FUTURE OF MANAGEMENT
                                                         2. WHAT MATTERS NOW
                                                         3. STRATEGIC INTENT
                                                         4. ALLIANCE ADVANTAGE
                                                         5. LEADING THE REVOLUTION.

NOTE : They are the must read books for a person who is going to start a business or have started yet needs some guidance.

That's all for now guys... I would strongly recommend to read this books... There are many things about him which can be said but still i can't write everything about him here... sorry!!

Regards,
Dhandeshwaran K S

SOLUTIONS FOR THE HINDRANCE

Hi all,

                 Sorry that i couldn't write the solutions in last 3 days guys... But i will tell you the solutions for the Hindrances above...


There are many Solutions to the Hindrances.... But i am going to tell you some of the solutions which will be of much useful in your business...

1. FAMILY & RELATIVES : This is the hardest part of all... Here you have to work out two things..
             1. You can make your FAMILY and RELATIVES understand : Just explain the plan of your business which you can say to them... Don't ever explain the CONFIDENTIAL things. Just illustrate the plan in a POWER POINT or in WHITE BOARD using a BOARD MARKER. And make them understand that you definitely can earn a lot in this business.

              2. PROVE YOURSELF : You have to prove yourself by earning a lot of money in your business. Then they will definitely trust you... Until then Be POSITIVE and leave their Negative word...

2. CAPITAL : As i said in my previous article, you can get a loan very easily from a bank if your plan is very good and you can start a business right away... Don't ever ask for a loan from relatives, because it can make your relationships bitter... Because in banks , you just have to pay the interest Monthly, Quarterly, Half yearly or Yearly...which you can arrange it with the profit you earn from your business and eventually you can give away the CAPITAL or PRINCIPLE AMOUNT . But If your relative comes and asks for half or the full PRINCIPLE AMOUNT suddenly, and if you can't give it then you will be in an ambiguous situation.

3. EMPLOYEE/WORKERS : Analyze in other companies , with your friends, coach etc.. for the comparison of the salaries o f the EMPLOYEES / WORKERS . Then when you are ready to give the salaries out , just think on your own if you can afford the salary which you are wanting to give them. You can definitely INCREASE OR DECREASE their salaries which you want to give them. You can give them INCREMENT at later stages to boost their morale  and you can also throw out the employees who are not efficient to work in your company. Give them 1 month to improve as you will be having a small company at the start . You can increase this 1 month window( if you want to) after you (Company) are grown a lot .

NOTE: Don't keep the EMPLOYEES/WORKERS who are not efficient in your company for a couple of month or so even if he/she is a relative (brother, sister etc... ) of yours.

4. REPORT/PROCEDURE : For a REPORT  , you hire a supervisor or manager , and give them strict instructions to check and learn the numbers which are being processed in each and every step of the production or service you are providing. And the reports should be submitted in at least a weak. And in everyday Basis you should know what is going on.

You have to implement the different procedures through your manager or supervisor... which will be easy and simple for you . You don't have to work that hard... Your manager will work for you...

5. PLANNING : You have to plan the target for each and every worker every day / every week / every month... Like I said already , Your Manager/Supervisor will implement it for you. You have to approve each and every plan before the manger implements it. It also helps you to know the targets achieved every month by your company, and will also help you to plan for your NEXT STEP towards developing your company.

NOTE : Your punctuality is the most important part in each of the processes you do and from the start to the end you have to keep your punctuality on the top of all the processes you do. 

Regards,
Dhandeshwaran K S

HINDRANCE TO START A BUSINESS

Hi all,

How are you today? Let's learn about something which you don't want to have in your life if you are doing a business. Because when a situation comes when you come face to face with those things, you have to know how to tackle it...

1. FAMILY & RELATIVES : These people pressurize us to have a safe life. And have a stable job in an awesome company (whatever it may be) and be free of the risks behind starting a business.. They always want their loved ones to study hard and get into a good job and lead a settled and stable life.. Because there may be three reasons...

                      1. They don't have any earlier experience about business.
                      2. They are not thought about doing a business in their schools or colleges.
                      3. The rumors about BUSINESS that it is always risk to start it.  

2. CAPITAL: People think of the capital amount first whenever they want to start a business.. People just don't know how the business loan from a bank works? People just feel that they have to pull together their whole life's earnings to start a BUSINESS. But its not true. See, People have started many businesses just with $1000 to $10000 (Rs. 60000 to 600000), Which is very easy to get as a loan from a bank. You can give back all the interest wit the capital amount within months of starting your business.

3. TRADITIONAL WAY: People think that they have to pay the salaries of the employees without earning any profit from their business for months or sometimes withstanding great losses in your business.. That's not true..

You can earn a good profit in your business even after giving out the salaries to the employees, maintenance, and etc..

4. WORKERS/EMPLOYEES : You must be strict on the workers/employees , No matter how good you are and how kind you may be and can't be strict, you have to be somewhat strict and make your workers punctual and make them produce good quality as well as quantity of products/services. This may be difficult if you weren't  strict before or if you have a helping nature... Don't worry, you still have many solutions for it... Don't be loose to them or it may make your business fall in a year or so.

5. A PROCEDURE : You have to prepare a procedure for everything. Like for e.g.,you have to conduct meetings with your employees/workers every day at least once, So that you are updated on everything your employees do and how the production, sales and marketing is going on. According to which you have to work on the plan towards improving it. Some of the other procedures are : Taking a leave, Giving a Quotation for a project, etc.. 

And making procedures work is very difficult.

6. REPORT : Preparing reports on each and every process which is taking place in your company is very important for every business to be successful. You have to make reports and analyze each and very report , so that you can improve your business furthermore and get more profits and expand it.

Thank you guys for reading it ...

Regards,
Dhandeshwaran K S

QUESTIONS YOU ASK BEFORE YOU START A BUSINESS

Hi all,

Today as you all would have known from the title, i am going to tell you about the questions you have to ask about the business you are gonna start. And these are some of the QUESTIONS you have to ask :

1. BUSINESS PLAN: What is the plan for your BUSINESS which you are gonna start? How are you gonna explain it to others? Hmm, I will start with this...

The PLAN should be simple and should end in just 30 secs.. And it should be more effective so that you can impress the person whom you are telling it to.. You should not drag it to more than 2 mins or your business plan is a flop...

TIPS: The business plan should be very simple. To make it simple, you just have to do these simple steps...
              1. You prepare your business plan very briefly first (it maybe in PC , A notepad, Blackboard etc... ) and then Delete the unwanted sentences you are using in your plan...
              2. And then say your plan to your coach or parents or any others who you trust the most. And ask two things
                                 i) If they understood your business plan?
                                ii) If they got bored listening that or not?
               3. If they understood the plan then its good otherwise you have to simplify your business plan further more.. 
               4. If they din't get bored then its good otherwise you have to present it as more understandable or you can add more examples or you can add  more illustrations... Illustrations makes them understand better.

2. UNIQUENESS : What is unique in your business? What is different in your product other than those products which your competitors are selling?

You have to make your product somewhat different than your competitor's products, otherwise it will not last that longer... If you don't have any uniqueness in your product, you have to make it unique.. for e.g., You are selling a T-shirt then you can make difference in designs, or you can make difference in stitches, material etc, which you are gonna use  in your product..so that you can make it unique..

It helps customers to reach your product very efficiently and easily.

3. MARKET VALUE : Research the value of your product in the market first... Then work on your product and check the amount of profit ... You fix a profit on your product and also analyze it  according to the market value of the product's value and your competitor's product value too...

For e.g., You are going to sell a bread pack for suppose $ 3.00 and making a profit of 50 cents per bread  pack, and your competitor sells it for $ 2.90 and he is making a profit of 40 cents then, you have to re-plan according to your idea, if you are gonna lessen the quantity and the price or  you are going to increase the quantity for the same price or likewise, whichever suits you .. So that you stay in the competition.

4. MONEY : Its the most important aspect of all in questions that i am gonna ask... How are you going to make money?

Here comes a concept called "VALUE CHAIN". A value chain is the chain of processes in your business process which increases the value of the product while each and every process is finished...

So you need to know the processes from making to selling it to the customers, And you have list them out and then put up the approximate cost  for each of the processes and then total them up and calculate the value of your product in the market and with that you can estimate your profit too...  

5. FORESEE YOUR BUSINESS: Think about your business after 5 years or 10 years or 15 or 20 years...
You have to set goals for each 5 years (long term) , and then for each year (Medium term) and then for each month (short term) so that you get an idea to where you will be after some time or in a few years...  So that you don't loose your path to success.. 

These are the main questions you need to know before or in a couple of months after starting your business... It will lead you to SUCCESS and you as a SUCCESSFUL ENTREPRENEUR. 

Regards,
Dhandeshwaran K S

BASICS OF BUSINESS

Hi, I am Dhandeshwaran and am gonna talk about some basics of business today... Hope you will enjoy...

Hmm where shall we start from... Yeah... It must be your interest...

INTEREST can be of two types:

1. INTEREST FOR STARTING A BUSINESS: People think that they want to start a business, but something comes across their life which never lets them to start it... There are many such things like relatives, friends, your past experiences, your routine lifestyle, etc.... Which i will talk about briefly in my next article... SUCCESSFUL BUSINESSMAN comes across these things too , but overcomes these things overtime with his strong will to achieve what he wants in his life more than he has to loose... The most important thing is the Interest to start a business which comes from strong will... that you have to create... 

Here is how you create it? 

i). Crave for More than what you have.

ii). Look around carefully and put yourself in your place after 5 years from now and analyse yourself to have a better life.

iii).Have a friendly talk with seniors and analyse them . (that's the case you are gonna be in some more years).

 iv). Earn Respect not only from your relatives and friends but also from your previous Boss... (Look your Boss's face after you are successful).

v). You are your OWN Boss.

2. FIND YOUR OWN INTEREST : Didn't understand what it is?  Huh, Find your specialty... in which area you are strong in? What can you adopt as your business? You have to select some of these:

1.PRODUCT: What are you gonna sell? Is it a service for which costumers pay or maybe any kind of physical product you are gonna sell? Whichever maybe you have to research on it first... Its your first step... Oh don't bother about FINANCE at first.  

2. MACHINERY : After selecting the product, Think about the MACHINERY you are gonna use , which will make things easier. Maybe it can be a traditional way or it can be new... As it all depends on you that how you are gonna make it happen.

3. AREA : Then comes the area where you are gonna start your company as it is more important as you have to consider the TARGET COSTUMERS to come there. for e.g., Chocolates for children.

4. TARGET COSTUMERS : You definitely have to target your costumers as to earn more profit... e.g., A small cup of coffee is almost Rs. 5 - 10 in normal shops, but when it comes to COFFEE SHOPS, the tea becomes Cold Coffee and its rates become Rs. 60 - 100 dependng upon the ingredients what customer chooses to add in. Here the Targeted customers would be Loving couples, Rich people, IT people who need some leisure time... etc..

5. FINANCE: Don't worry if the above four things are worked out correctly on a paper as a plan then, you can get a LOAN easily from any bank... which will make you confident with your plans.

That's all for now.....

Regards,

Dhandeshwaran K S