It is said
that, “Mother is a first teacher and home is the first school.”
Just by reading
the above heading if you are thinking that I am from big Industrial/Trading
family then stop thinking. You are wrong. My mother simply has not completed
schooling but she is entrepreneur.
Theories might
be waste some time, research done and conclusion made by great scholar might
fail under some circumstances.
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Whatever you are taught, you have learned from books, movies or heard from some friends or seniors might not be always right.
Here I will
mention some of the points along with the reasons and logic of my mother and I
expect you to provide your views.
1) Every client
is not equal:
Treat fairly to
all the clients. If you are in service industry, serve them genuinely and if
you are manufacturing industry, provide genuine products. But don’t forget all
the clients are not equal.
Some clients are your friends, caretaker and will be
there during your hard times. They will help you during hard times but many
will change the vendor. You have to be with those clients during their hard
times too
2) Customer
is not always right:
Once I attended
the seminar in which speaker said, “Customer is always right.” I said this to
mom and she said, “This phrase is just said to staff so that will not argue with
clients. But as entrepreneur be always
sure customer is not always right.”
Customer
sometime makes unusual and unnecessary demand, sometime hypothetical too.
So while
teaching your staff you may say that client is not always right but don’t
argue. Take their points seriously and make them feel better.
3) All theories are not practical
There are always
lots of gaps between the theories given by management professional and practical
world.
If you want to achieve something high then stop thinking those theories
and start making your own thesis.
You can take ideas from them but don't make them basis to run your business
4) Never keep
everything in same basket
Keeping
everything in same basket has many problems. What if you store foods and acids
in same basket. Acid may leak and damage your food.
Similarly don’t
invest in same sector. Try to diversify your investment so that if one sector
fails another can take the burden.
Mom simply
diversified small investment in various sector. So that if one sector is having off-season , then another sector can take the financial burden.
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5) Don’t
hurry to make deals
Sometime you
just get offer of lucrative deals. Don’t hurry. All the deals that benefit you
presently mightn’t benefit in long run.
Know the party
in details. Know your clients past, present and future plans. Once you sign the
deal you are going to create a bond so better not to lose the bond after once
you created.
6) Be
diplomatic but not complicated
Let outsider
know, that much which you want them to know about. This is most critical
subject matter for any organization. You can’t shut down the information of
every employee too. So be careful while you pass information to your employees
too. They should know how much you want them to be known.
Share what you have learned from your mother.
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