How often we have heard people talk about business and the art of mastering it. It’s difficult but exciting, it’s risky but rewarding, it’s painful but enjoyable, it’s fragile but long lasting, it’s all about the art of mastering to balance. The one’s who can learn to balance the situation can walk out rewarded and happy.
There always has to be a proper balance between the family life, social life and yes business life. You might have always seen that the one’s who run the most healthiest business all across the world are often one of the most balanced people in life. The moment you start over weighting any one of the circle the others get deflated and imbalanced. A multi billion dollar famous Indian businessman Ratan Tata always emphasised that “Come and leave office in time. In the hour of need no presentation, meetings or office work will come in use but it’s the people whom you have given time will help you out”.
The points which effect the way of doing business are:-
1.Game of balancing:-
There is a very fine line between calling a business successful or failure. It’s just like the thin rope propelled between the two buildings and the man balancing his moves from one end to the other while holding his plans intact. The one who balances well on rope and covers the entire distance, is the one who wins and the others who commits the smallest of the mistake at any point are the ones fall off from the game.If you are in the clothing line, you must be knowing the importance of exact measurement., the fitting and the body shapes. The perfect cut and the perfect knowledge of millimetre takes you to the club of ZARA’s,but an inch more or less and you end up being called any other brand.
2.The power of patience:-
You might have often heard that the calmer you are internally the powerful you will be externally. It’s all about calculating what is the right time to strike. In the game of football there is a long story so as to why the no 9 jersey in the football arena is allotted to the prime striker of the team, he is the one who is always surrounded by opposition, but he is the man upon whom the management vest’s their confidence. Nines' know their moves well, they talks to themselves, they have the sharp vision of an eagle, the cunning moves of the fox, they stay patient as they strikes at the exact calculated time to hear the crowd roar - “It’s a GOOOOAL”. If they stays impatient, if they bow down in front of pressure, if they kick in haste - they will be called a waste. BENJAMIN FRANKLIN once said “ He who shall be patient would attain everything in life” and then we know he is there right in centre of the most valued currency note of this world - the AMERICAN DOLLAR.
For business entities, if you deal in seasonal items like AC’s which sell in summers or Umbrellas which sell in rainy season or Winter apparels which sell only in winters you would know how important patience plays a role in determining your profit margins. Being patient but being aware about what is the correct time of purchasing the goods, moving in a little bit forward than the rest of the market, getting the correct stock and that too at the least possible price. It is all about timing - if you can judge the correct time of opening the goods, setting the correct selling price and clicking for the right time you can earn a big fat margin, but if you falter in estimating any of the factors determining your sales - BOOOMM…!!! you end up making a mess of your purchase. There are testing times when the weather, or any of the estimated condition do not favour your business - it is then that this word “PATIENCE” comes into play a lot. The people who can master this skill at these testing times are the ones who will be called winners in the longer run.
For business entities, if you deal in seasonal items like AC’s which sell in summers or Umbrellas which sell in rainy season or Winter apparels which sell only in winters you would know how important patience plays a role in determining your profit margins. Being patient but being aware about what is the correct time of purchasing the goods, moving in a little bit forward than the rest of the market, getting the correct stock and that too at the least possible price. It is all about timing - if you can judge the correct time of opening the goods, setting the correct selling price and clicking for the right time you can earn a big fat margin, but if you falter in estimating any of the factors determining your sales - BOOOMM…!!! you end up making a mess of your purchase. There are testing times when the weather, or any of the estimated condition do not favour your business - it is then that this word “PATIENCE” comes into play a lot. The people who can master this skill at these testing times are the ones who will be called winners in the longer run.
3.Style of convincing :-
Have you read the great story of the task given to an entrepreneur of selling ice to an eskimo. Now imagine yourself to be an eskimo who lives in an igloo and is surrounded all around with ice - tired due to over presence of it and then someone else comes there to sell the very thing that you have been fed up with. This person has to be stylishly smart to do such a task. The conclusion of the story was - he not only sold ice but made huge profits after selling it. HOW? Believe me it’s all about the style of convincing. He came and surveyed what were people doing with ice other than just making an igloo for their shelter. The only thing he found was people where using ice to make snowballs and decorating it. An idea struck in the mind of the business man. He thought what is the most valuable thing in the manufacturing process - raw material, machinery, economics of selling at low price and obviously knowing what to make of it. He brought machines made softy ice creams from the abundant ice in a fabulous presentable manner and then sold it to eskimos living there. Humans are emotional beings and their brains can be tweaked and moulded - but to only something which is radically convincing. Here I quote the famous ALBERT EINSTEIN “Make everything simple as possible, but not simpler”.
4. Ruthless Practice:-
The great footballer Leo Messi once said “ It took me 17 years 114 days to be an overnight success “. For those who think playing the game of business is easy go have a candy and take a sleep. If you’ve played a game of cricket in your live you would be knowing that there are various types of shots a batmen can play in order to obtain the runs. Every shot requires a special skill. The cuts, the flicks, the square cut, the leg glance, the hook, the pull, the reverse sweep and so many other shots to offer. Every shot requires a special muscle in the body to be put into correct use. Some shots require more of the wrist work, some require the head to be balanced in line with the ball, some require the body to be solidly firm behind the ball - it’s all about knowing which part to be used when and believe me all these things do not come naturally instead all these things have to be cultivated and mastered with time and all it takes is ruthless practice. The great Sachin Tendulkar recalls practicing over 10 hours for getting his straight drive perfected. The wall of Indian cricket - Rahul Dravid did hours and hours of practice to just stay at the field and sweat it our for his team. There is not something called a perfect business plan. You have to keep changing, testing and modifying it time and again. Setting the best practice into use and then rehearsing it time and again so that it is perfected in every aspect. When you start a business you always start with the larger picture in mind and then start weaving and fine-tuning it to the core base, you start paying importance to each and every aspect of what is effecting your business and then doing the reverse process of setting the right practice at every point. If you stop practicing you stop businessing it’s as simple as that.
5. It’s worthless without competitors:-
Suppose you were the only political partly ruling the country facing no opposition and having no real opponents. Would you enjoy campaigning for a cause? Would you be made aware of your loopholes? Even the victory obtained would not have been so tasteful. Imagine if the roads would have been smooth and straight as an arrow, there would have been no uneven waves in the ocean, the air would have been clean and having the same density thought the earth who would have been called a skilful driver- a sailor or a pilot? Whom would be rewarding the medals, whom would we be calling the best in the segment? We should not fear but learn to embrace the competitors. Keep a check on their movement, track their pitfalls and then start attacking on their loopholes. Chanakya once said “Before placing your move, you should watch your competitors moves”. A clever, sharp and cunning businessman would always keep a check on what different is his competitor trying. We are all aware of the fierce Pepsi Coco-Cola cold war - aren’t we? But never be disheartened by the way your competitors are performing instead take it as a launchpad - tap their short falls and use it to jump higher and further.
