Key learning and experiences from a seasoned Expert
The first and most important thing I learned was that meeting customers on the ground is of paramount importance. The ground experience is the foundation on which any successful business stands. It gives one a chance to understand the needs of customers and how their products or services can satisfy them.
While working in different industries, I have met people from all walks of life. From trade partners to colleagues, I have made lasting friendships. It is essential to value these relationships as they are a source of inspiration and support.
As a leader one needs to differentiate their products or services to be successful in the market. If the team does not know these differentiations, then they will only sell on prices. Regular training of teams on these points of differentiation is crucial as it will lead to the demand for higher prices from the market.
"The positioning of products and services is the organization's job. If it is not done, every customer shall perceive it differently, and the competitive space shall be missed."
But customers are more interested in the value you offer. Value creation exercises must be done very often to keep evolving them from time to time.
If you are doing business, there will be disputes , but disputes with trade partners must be settled quickly to ensure more consistency in the business.
Also the products and brands need consistent attention and regular communication with the end consumers. If this is not done, it puts more pressure on the sales team.
A very important thing is that employees need higher energies and more respect. If you cannot take care of your employees, your customers shall suffer.
Don’t underestimate team needs continuous training, and if that is not done, one will be at the mercy of the gods.
The positioning of products and services is the organization's job. If it is not done, every customer shall perceive it differently, and the competitive space shall be missed.
Remember your people want growth, money, training, respect, space, and nothing at the cost of others.
Finding passion in one's work makes it interesting; otherwise, it is a pain in the ass.
Appraisals must be done periodically and regular feedback on their work and how they can improve must be given.
Always find reasons to praise, but it must not be done for the sake of it. When you praise, praise in public, send them notes, and if it is handwritten, that's an emotional connection you make with your team.
Also connecting with the families of your team builds emotional bonds and helps you get the family's support. It ensures that people can be their best version while working.
As a CEO or promoter, helping people make more money, growing them, building and creating an atmosphere to live an aspiration life is essential. Everybody has aspirations, and one should know how to tap them.
As a leader one needs to differentiate their products or services to be successful in the market. If the team does not know these differentiations, then they will only sell on prices.
Encourage your teams to read books and acquire new skills. Have a culture of book sessions once every quarter.
Always keep improving product/brand/training offerings. Small changes are big gains when you see their compounding effects.
Hire people smarter than you, when you are 4 on performance and keep the team of 3, your performance shall come down to below 4. But when you are at 4 and your team is at 5, you will grow your performance to more than 4.
He is one of the most respected corporate business leader, opinion maker and author in media &’s entertainment and consumer durable sector. Sharp business acumen, ability to run businesses as profit center and breaking new ground for business expansion are his core competence. In his illustrious career of 38 years has created significant value in large corporation’s i.e. Korean multinational corporation LG Electronics Ltd, JVC-Victor Company of Japan, ONIDA Electronics, Aristocrat Luggage through product innovations and customer centric marketing and sales strategy.