How often do you take risks in business? Do you actually think the way others’ can’t to make your business bigger?
If you want to be successful in business take risks, innovate, think out of the box and have a courageous heart.
Before becoming a skills trainer, I was a highly successful fashion designer and garment manufacturer. Twice a year, we guys used to participate in garment fair. We started the preparations for the same three months prior to the event and made 750 samples. Two days prior to the bookings, we used to invite our agents, distributors, channel partners to take their opinions. With their mutual consent and reviews, we selected 125 best samples out the lot of 750 samples. These 125 samples would be displayed in the garment fairs. Here we would get big orders, thus these events were very important for us. On returning from these fairs, we calculated that out of the 125 samples showcased in the fair, we got thousands of orders of only 20 samples. It means out of the 750 samples made, 125 samples would go to the fairs and out of these 125 samples; we got orders of only 20 samples. Interestingly we got repeat orders of only 5 or 6 designs out of these 20. So out of the 750 designs, the end user liked only 5-6 designs. Thus, 745 designs failed to please the end customer.
The samples made are very costly and are sold for peanuts because they aren’t production pieces. If I tell you the insights, we spent lakhs of rupees on samples in every season. Wasn’t it stupid of us? But do you know how much we earned from that? ‘Crores’. So we spent lakhs and earned crores. This is how our business worked.
Thus, if you want to earn more, you need to take risk and have the courage to spend more. That is the best business strategy. Think out of the box.
Out of the box thinking means seeing what others are also seeing but thinking differently about it.
17 years back, when I began my journey as a business consultant, Shiv Khera’s book ‘You can win’ was a huge hit in the market. An owner of a big publishing company approached me and encouraged me to launch my own book. I told him that I was a good speaker but not so good a writer. He replied that was not a thing to worry about. He advised me to keep 10 best books on the subject in front of me and produce an 11th book by copying the best things from those 10 books. This was his business tip.
There is an old saying “Your ship is safe in the harbor but that’s not the purpose of the ship” similarly your money if safe in your bank locker but you would be wasting the true potential of your money if you are not investing it in profitable schemes and in increasing your business.
So invest your money in the market. Do your calculations and take calculated risks.
Mobile manufacturing giant ‘Apple’ keeps on making new changes in its mobile phones to keep up the curiosity of its customers.
Thus, have a strong business strategy, mark out your area where you want to bring a change in the society and work towards the attainment of your goal.
Thinking out of the box is the most essential skill to enhance your business and marketing practices. The more one is innovative in his business skills, the more one gets successful. Think new; think unique. Keep working on new ideas, latest developments, and newest products. Being innovative is the key to being the master of business skills. Communication and Public Speaking is also another vital aspect to make your business grow. Good presentation skills lead to a better connect with your consumers.
Think out of the box, work on it and present it well!
Once you master these three mantras of business skills, you can evidence a tremendous growth and rise in your business.
[To watch this video in Hindi, click the link below].