Think if the Covid19 isn't the last virus threatening to wipe out human race in 2020? What would you do to prepare for the threat? Therefore the coronavirus would surely create new businesses aimed at providing solutions to the threat of fatal viruses. Mind you when in crisis the majority shrink the activity portfolio to very basic things like food, clothing and shelter rather than seeking pleasures of life. Luxury products industry may contort beyond rational explanations leading to very low quantity higher prices. One feature that all passenger vehicle would be hollering about would be virus proof interiors from upholstery to filters etc.
Almost a decade ago while prospecting I sought a meeting with a major shoes manufacturer in Punjab something happened that you must know. This shoe manufacturer is himself an MBA and was launching a line of products aimed at health wellness like shoes with acupressure benefits. India being a dumb country hell bent on leveraging the capital rather than the idea you don't find any trailblazers. Next time you eat a healthy biscuit ask yourself how's that different from a parontha or Indian sweets. Well I called up this charismatic hardworking shoe manufacturer for a meeting, obviously thru someone else, and got a chance to explain him why he should hire my services to market the shoes with health benefits. He listened to me for ten minutes and politely told me to let me know later about the decision. Don't you know that when someone don't want to decline the offer he substitutes it with tell you later smile? I told him since India is a poor country therefore there's only niche market for the health benefits segment and hence it would be better if the marketing strategy aims at niche rather than mass. He didn't see reason in my advice against his ideas, hence never hired me at price which was not even 1% of the cost of failure he faced with his health benefits shoes launch. Basic reason why any MSMEs should hire a business consultant is to get a second opinion on his plans and hold hands going forward. I don't advise my clients, I work and toil with them to ensure that my clients earn more and spend less than what they had planned on their own. Hiring a business consultant should lower the cost not pad it up.
Do you wonder how it's possible that how can an entrepreneur save money and spend less? Imagine a pharma industry business that requires sophisticated laboratory having expensive tools like HPLC, Spectrometers etc. One of my client into the Phytochemicals and nutraceuticals manufacturing told me that his lab executive wants new software for a non functioning HPLC machine and it would cost him a couple of lakhs. Yes people still can sell you blotting paper for million rupees. It took me two minutes meeting with the HPLC supplier to bring the cost to zilch because I have long experience of working with Phytochemicals manufacturering businesses.
What can small business owner do if his tried tested sales team tells him that no further sales are possible with same product mix? Well make your sales boss meet with someone like me to share fresh tactics and latest practices in business. Anyone working on one job for couple of years can develop a tunnel vision and would need help to get fresh ideas about what else is happening in other industries in similar situations which could be implemented in many verticals. Well I took me few months to design a plan that would expand the sales to new heights mom.
India has too many MSMEs and need many more to deal with the mayhem in the market due to lockdown. Restarting a unit is more complex than setting up new one. I would humbly recommend a thorough inspection of all critical components of the plant so as to avoid mishaps. A boiler doing great service before for a while must be inspected before going on steam again with the easing of lockdown restrictions. As we all know that the best time to launch a product is the off season so that you could double check every little detail in the supply chain. Therefore setting up a manufacturing new unit in Corona pandemic period can't be a bad idea. Let's get down to business and factor in the precautions for Corona.
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