Alok Kejriwal On the Importance Of Branding

July 31, 2012 4 Comments

“Sam (Sam Balsara of Madison Media) was invited by a Mega Marwari Corporation (MMC) for a chat to help create a Salt Brand. Sam was asked by the grey haired senior executive, ‘how much money would it cost to build India’s greatest salt brand?’ Sam thought for a moment and said ‘Say 20-30 crores (4-6 million US$) in media spends. Assuming your product is great, that should take you to the top’. Mr. Grey Hair heard this and almost fell off his chair…

He said ‘Sam – with that money, I can build 5 more Salt factories!’. Sam pointed in the direction across the street and said ‘Mr. Grey Hair – the folks just opposite your office created Tata Salt. Today, every salt factory in the country goes to them to supply them unbranded salt. The one solo Tata Salt brand is more valuable that 100 plain factories put together. Adding 5 more factories to your collection will not do anything for you’. Mr. Grey Hair looked perplexed. Read more of this post

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Alok Kejriwal On Marwari Business Traits

July 30, 2012 4 Comments

The Marwaris are so successful at business,so it makes sense to learn from them.In the article below Alok Kejriwal of contests2win.com writes about what he learnt from his family business.

The Seven Subjects I learnt at Marwari Business School (MBS)

On the last day of my ICSE exam (10^th standard finals), my Nani (Grand mother) offered me a free seat into the Marwari Business School. I was 16 and I had the opportunity to go and sit in my Nana’s (Grand father) office.

I took up the offer.

These are the seven subjects I learnt:

M = Monetization Mentality

Monetization above everything else!

For Marwari’s, money pretty much means everything. It’s the ‘currency’ of success – pun intended. People are sized and measured not by their waist sizes but by the width of their balance sheet. A Marwari’s religion is making money and they meditate on it.

What Monetization and its terms means is also unique for Marwari’s.

For instance, I learnt that Revenue was not what you ‘bill’ or ‘pass-thru’ or ‘recognize’. Revenue was always what you ‘net-net’ earned that came in your coffers.

Revenue is bottom line for a Marwari – not top line. Read more of this post

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Words Of Wisdom

July 29, 2012 12 Comments

Filed under Tidbits, Tool Kit Tagged with be appreciative, be grateful, be thankful, postaday

Chinese Proverbs For Entrepreneurs

July 29, 2012 9 Comments

wealthymatters 1. “In every crisis, there is opportunity.”

Most entrepreneurial ventures arise from a solving a problem. If you are faced with a problem, craft a solution and sell that solution to others.

2. “Sow a thought, reap an action; sow an action, reap a habit; sow a habit, reap a character; sow a character, reap a destiny.”

Entrepreneurship starts with an idea and ends with a destiny. You craft your destiny with your actions, habits and character. You make your destiny, it doesn’t make you.

3. “The best time to plant a tree was 20 years ago. The second best time is now.”

Aside from 20 years ago, there is no better time to start a business than today.

4. “If you want one year of prosperity, grow grain. If you want ten years of prosperity, grow trees. If you want one hundred years of prosperity, grow people.”

The goal of every entrepreneur should be to start a business and find capable people to run the business so that they don’t have to. Read more of this post