vma: learning tree vol 2

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Learning Tree Volume 2 VMA meets every Sunday 10:30 am, at MIDC hall, Udyog Bhavan, Civil Lines, Nagpur. www.vmanagpur.org VIDARBHA MANAGEMENT ASSOCIATION’S

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  • L e a r n i n g T r e e

    Volume

    2

    VMA meets every Sunday 10:30 am, at MIDC hall, Udyog Bhavan,

    Civil Lines, Nagpur. www.vmanagpur.org

    VIDARBHA MANAGEMENT ASSOCIATIONS

  • Presidents Message

    Its gives me immense pleasure to present before you the VMA Knowledge magazine

    Learnings. The booklet contains the actual learnings of the sessions conducted at

    VMA. The sessions at VMA are always thought provoking and contain many useful

    business lessons. Members who could not attend the same always request us to share

    the learning. This booklet will satisfy the need of the members who could not attend.

    Moreover it will also be useful for members as a reference.

    My Sincere Gratitude to all the learned speakers who have shared their experiences at

    VMA. Special thanks to Saurabh Mohta for preparing this booklet.

    Ritesh Panpaliya

    President

    2013-14

    Torch Bearers of VMA

    Year President

    2004-05 Prashant Godbole

    2005-06 Prashant Godbole

    2006-07 Mangesh Joshi

    2007-08 Mukund Mohta

    2008-09 Mohan Agrawal

    2009-10 Srikanth Sampath

    2010-11 Sachin Yete

    2011-12 Ranjit Dani

    2012-13 Sameer agrawal

  • Index

    S. No. Topic Speaker

    1 Basics of health insurance Prasanna Dani

    2 My learnings from Bhaag Milkha

    Bhaag

    Anup Wankhede

    3 From Catering to Hospitality Narendra Jog

    4 Management Wisdom from Event Managers

    Manisha and Nilay Verma

    5 HR Policy Manual Sachi Sodha

    6 Extraordinary Organizations Prashant Godbole

    7 Vinay Sarda

    8 Turning around of an Industry Nandkishore Sarda

    9 7 DIMENSIONS OF LIFE Vilas Bhimte

    10 Economy & Markets: Fact v/s Fiction Nirav Panchmatia

    11 Freelancer in the Virtual World Mithilesh Jindal

    Marketing & Brand Creation Vishal Agrawal

  • Special Thanks

    To

    Mr Vinod Saboo

    for sponsoring the

    First VMA GYAN Booklet

  • Basics of Health Insurance By Prasanna Dani [email protected]

    Types of Health Insurances

    o Indemnity (loss recovery mechanism)

    o Benefit (Payment of sum irrespective of amount of expense incurred)

    Why Health Insurance?

    o Medical expenses are sky high these days.

    o The elaborate medical treatment expenses could eat into your savings meant

    for the future.

    o Health insurance policy kicks in to ensure that you get the required treatment

    and your pocket is still under control.

    o It covers the risk of financial difficulties in the event of long illness.

    o This must have been in response to the series of uncertainties people have

    observed in recent times like the terror attacks, rise in air travels

    Dos & Donts

    Our responsibilities while buying /renewing health insurance.

    1. Keep asking questions to your advisor

    a. To about the caps on Expenses, Diseases & Co pay

    b. To know about the Day Care Surgeries covered & correct policy wordings

    c. To know about the Specific Waiting Preiod for Surgeries or Diseases

    2. Always ask for a copy of the proposal forms & allied documents attached at the

    time for proposing for insurance.

    3. Check for the correctness of the contract after receipt of the Policy Documents, you

    have a free look period of 15 days.

    4. The company can change the terms & conditions as well as the premium every year

    so always keep looking for better offers with competitors.

    Avoid Tailor-made policies for group of investors as they may not support Portability

    conditions.

    Always mention the correct status of your health while filling up the proposal form.

    It is for you to stay updated

  • Portability

    Date of Implication?

    o Already Implemented

    What is Portability?

    o Portability will ensure that these accrued benefits are transferred at par to the

    new insurer at the time of porting and consumers do not lose on these benefits

    while switching insurers.

    When can the Health Policy be ported?

    o 45 days prior to the date of renewal of existing insurance.

    What if the new Insurer takes more than 45 days to dispose of the proposal?

    o The Policy holder has an option to extend the contract with the old insurer by

    minimum 1 month.

    In case there is a claim in this period of 1 Month?

    o The Existing Insurer will ask for the balance premium for full year and the Policy

    holder will have to apply for Porting in the coming year.

    Can the New Insurer add a PED (Pre Existing Illness/Disease) for the Ported Policy?

    o Yes, it can as per the outcome of pre-medical checkups /underwriting

    Changes in Health Insurance Sector By IRDA

    Date of Implication - For Individual Customers 1st October, 2013

    An Insurer can File & Use

    Health Plus Combi

    Insurer cannot compel to migrate to another product, should always display on the

    website

    A health insurance policy shall ordinarily be renewable except on grounds o f fraud,

    moral hazard or misrepresentation or non-cooperation by the insured

    The insurer can condone 30 days after the renewal date. Claims will not be payable in

    this period of grace

    If a claim is made in the previous year, the cumulative bonus will reduce at the same

    rate it has accrued. No cumulative bonus on Benefit Policies

    AYUSH - Ayurvedic, Yoga, Unani, Siddha, Homeopathy treatment covered.

    The Insurer should settle claim within 30 days of submission of the claim

    Valid delay in Intimation of Claim or Submission of Documents is not a ground to deny

    the claim

    There should not be any loading on claims & should be mentioned on the prospectus

  • My Learnings from Bhaag Milkha Bhaag Anup Wankhede

    [email protected]

    Set short term goals: a) If we set & achieve short term goals, it automatically leads us to one big goal. Dedication to your goal: a) Distraction in our path will always be there. But when we are dedicated to our goal, we can easily fight those distractions. Alone on the way:

    a) There will be situation in our life, when we will find ourselves alone on our path. Always prepare your mind for it. How to see competitor: a) Always remember following saying for competitors:

    "First they ignore you, then they fight you, then you win." Company of good people: a) Always be in company of good people, its always a best approach. You learn from them and they motivate you to grow. Convert Emotion to Motivation: a) If some emotions are causing problems in our life, we must convert those emotions to motivation for our goal.

  • From Catering to Hospitality-

    The Journey of Expansion Mr Narendra Jog

    1. Never say no. Whenever we have an enquiry of a food item then, we do not cook, we never

    say no, we just search online for the recipe, prepare the food and serve it to the customer, and

    take the feedback for further improvement.

    2. Retain a customer. Cost of retaining a new customer is 6 times higher than retaining an

    existing customer, further it gives you good recognition and refrence sale too.

    3. Maintain a black list. We maintain a black list of people who are our defaulters and we have

    decided to do no business with these people.

    4. ISO certified kitchen and using the ISO guidelines for actual betterment.-Our Kitchen is amongst

    the 2-3 Kitchens in Nagpur which are ISO certified. We also use the ISO guidelines and

    formalities for further Improvement of our organisation.

    5. Customer satisfaction survey and preparing food according to customer. We regularly conduct

    Customer Satisfaction Surveys and try to cook varieties according to the requirement of the

    customer.

    6. Hygiene care. We have keen focus on the Quality of Raw materials and food being cooked as

    well as the hygiene being followed in our Kitchen, this is equally important for the quality of the

    food we serve.

    7. Right attitude towards customer and product quality.

    8. Small innovations. Example we have a policy of returning Fresh Currency notes as change to

    our customer, So if the customer is buying from us just to get fresh notes, thats a sale.

  • Management Wisdom from Event Managers Mrs Manisha and Mr Nilay Verma

    The Murphy's Law: If anything can go wrong, it probably will! Stuff happens at the last minute,

    leaving everybody surprised by it. How do then event managers deliver a flawlessly synchronized

    event? Be it a launch of a product or a wedding. Be it a corporate event or a b'day party. Be it brand

    promotion event or an exhibition. There is always a desi way and a professional way to do it. Learn to

    beat the Murphy's Law by attending a session on "Management Wisdom from Event Managers"

    A Good Event Manager

    1. Has to be a good team leader - He / She should guage the capacity and interest of all the team

    members before allotting the duties.

    2. Stay focused

    3. Must be impartial & unbiased - Since all the events are equally important and the team is

    working really hard, secondly you wont like your team to have ego clashes during any event.

    4. Must delegate- You might be Jack of All trades; But should not even try to do everything by

    self.

    -There is a 100% chance of many things going wrong when you are not delegating the tasks.

    There will be a lot of pressure and you wont be able to multitask (handle multiple events)

    simultaneously

    5. Follow check lists The best way that helps you not to miss out any detail.

    6. Should posess - Team Management Skills

    7. Selection of strong & reliable vendors since you cannot have Quality checks all the time with

    your service providers for whom every applications are live.

    8. Clear vision of - Group Goal and create clear vision and common Goal for the team.

    9. Daily review meetings & Post event review meeting

    -This will help everyone know the progress, pitfalls and Delays, also to analyse the mistakes

    and the shortcomings in the last event

    10. Have a Backup Plan

    11. Outsource During Time being huge requirements. -There are times when you require a huge

    number of people for a day or two or any specific task; for this you should outsource

    manpower so you dont enter into permanent liability and HR problems.

    12. Should have faith on the Colleagues and the team.

  • HR Policy Manual

    It is rightly said that communication is the key to the success for maintaining the cordial relations in any

    organization. An essential requirement for this but missing in most organizations is HR Policy Manual.

    Lets consider real life situations, where the owner of the company is working out on fund arrangements for

    his business plan -

    1. Suddenly, an employee comes & asks him- Sir, we have not got the salary & its already 3rd today, so

    when are we getting it? The owner answers- Yes, there is a delay due to some reason; you will get

    paid in 3-4 days.

    2. After sometime, another employee comes & asks- Sir, how many days do we have Diwali Holidays,

    its just 15days left & there is not Notice about it. The owner answers- I have not yet decided, you will

    come to know by next week.

    And such situations keep on coming. In above cases both employee & owner are frustrated as owner is

    disturbed & pressurized to take decision & the employees are clueless of what to do.

    Lets look to another situation-

    Ms. Rashmi joined an organization. Today is her 1st

    day at work. She reaches office at sharp 9. Did her work

    well & went. Next day she came to office at 9.30am. Suddenly her Manager comes & shouts- Is this the

    time to come to office? Its 9.30.

    Rashmi felt insulted, but keeps quiet.

    After few days, one day just for a change, Rashmi wears Casual t-shirt & Jeans at office. Again the Manager

    comes & shouts- Dont you know, you are not supposed to wear casual attire in the organization. Rashmi

    replied irritatingly- Yes, I dont know & Sir how am I supposed to know, I was never told about it.

    Feeling humiliated, the other day Rashmi comes & puts her resignation. Thus, company lost a good

    resource.

    There exists a gap in communication in between the employer & his staff about rules & policies in the

    organization. Hence, such situation arises & results in dissatisfaction of both towards each other. We can

    avoid such situations by-

    Communicating Expectations Rightly

    HR Manual helps in communicating employer expectations, organization rules & policies to employees. A

    good HR Policy Manual has got the following contents-

    1. Vision, Mission & Values- Vision, Mission & Values connect employees to dream of owner & should be

    included in the policy.

    2. Code of Conduct/ Personal Conduct- In organizations, we often sees people not professionally

    dressed, lack in business etiquettes & etc. Hence, communicating about dos & donts to all employees

    in advance build healthy environment.

    3. Grievance Handling- Often, employees have got issues or complaints related to Salary, Work process,

    Manager Abuse, unsupportive colleague etc. A proper recorded procedure about making complaint,

    handling & resolving such issues will avoid any sudden outburst of emotion/anger. Also will help

    Sachi Sodha - 9325788850

    iTalent India Management Consultants Pvt Ltd

  • employees to professionally communicate their issue without taking situation in their hand.

    Management also is able to take a fair decision by adhering to stepwise investigation process instead

    being at random.

    4. Leave Management & Holidays- Its essential to avoid situations like uninformed leaves & long leaves

    of employees hampering work deliverables. Its important to clearly communicate the applicability &

    procedure for taking leaves. Also, fixing Holidays at the beginning of the year will helps both

    management & employees to plan the work & holidays well.

    5. Office Timing Policy- Undecided office timings leads to delay in starting the work & hence delay in

    finishing the same. For proper discipline in organization, define the office timing, late coming policy &

    communicating it clearly.

    6. Compensation (Statutory & Payroll Rules) - Clearly explaining the statutory norms applicable

    currently or in future (the deductions & benefits), defining the salary disbursement date, & rules of

    salary calculation helps employee understand the payment against work done & maintains

    transparency.

    7. Health & safety- Communicating employees about the safety measures that they are supposed to take

    for e.g. - Wearing boots, helmets are essential in Production area. Communicating employee well in

    advance that company is concerned about safety & thus wants all employee to adhere to safety

    guidelines while performing work.

    8. Performance Management System- Often employees are clueless about the criteria & parameters of

    Salary hike, promotion. This created unrealistic expectation at the end of employees & management

    both. Its important to communicate the employee PMS frame work to ensure desired employee

    performance.

    9. Exit Policy- Most of us experience that employee just vanish without informing & later we get to know

    that they have joined the competitor which disappoints us. Exit policy in HR Manual explains how the

    employee should put resignation, serve his Notice period, handover company data, do his Full & Final

    settlement & leave on good note. If the employee fails to do so the company can take legal action

    against him.

    10. Maintaining Intellectual Property & Security- Intellectual Property of your business if lost will cost dearly. There is need of stated policy which should be clearly communicated to employees about dos

    & donts. If policy is not stated & informed, company cannot take legal action if employee misuses the

    information.

    At the end, there can be an Agreement page which employee signs stating that he has read,

    understood & agrees to the policies & procedures.

    The Benefits of having HR Policy Manual (Slide 9) in any organization are following-

    1. Create a better Culture- Everyone is aware about everything & hence no gossips about anything.

    2. Helps in Decision Making- Multiple time taking decision on similar issues can be avoided by

    defined policies.

    3. People consider you a better leader- This is because the employer takes consistent, fair &

    immediate decisions always.

    4. Company look professionally managed- With all the policies & procedures in place, organization

    exhibits professional behavior.

    In the end, it is important to remember We cannot become what we need to be, by remaining who we

    are!

    Please follow HR Policy Manual as statistics prove that the Managers are the first ones to break the rules.

    Thus, however, small the organization is, it is recommended to have HR Policy Manual.

  • A discussion on Extraordinary Organizations Mr Prashant Godbole

    Mr. Prashant started the discussion by sharing definition of Extraordinary organizations by Geoff Bellman

    &Kathleen Ryan that these are Organizations which achieve outstanding results, while its members

    individually and collectively- experience a profound shift in how they see their world

    He then explained that this definition encompasses organizations of all sizes big and small, and of all types -

    Business, Govt and Voluntary . He said that such organizations exist in all cultures, countries and

    environments and it would be worthwhile to discuss what really makes them extraordinary.

    He told that most of these organizations follow an Inside Out Approach, as against to most widely used

    Outside In Approach. as put forth by Simon Sinek in his book Start with Why. He then explained the

    Golden Circle Principle with explains how ordinary organizations differ from extraordinary ones.

    The Golden Circle Principle

    Every single organization, always function on three levels. What

    we do, How we do it and Why we do it.

    Every company or organization knows WHAT they do. These

    are the products we sell or the services they provide.

    Some companies and organizations know HOW they do

    what they do. The differentiating value proposition or

    USP, (unique selling points) - these are the things that set

    them apart from their competition

    Very few people and organizations can clearly articulate

    WHY they do what they do. Why is a purpose, a cause or a

    belief. It provides a clear answer to Why the organization

    even exists and why that should matter to anyone else.

    The Golden Circle

    Ordinary - Outside In Approach

    We naturally communicate from the outside-in, we go

    from the clearest thing to the fuzziest thing. We tell

    people WHAT we do, we tell them HOW were different

    or special and then we expect a behavior like a

    purchase, a vote or support.

    The problem is that WHAT and HOW do not inspire

    action. Facts and figures make rational sense, but we

    dont make decisions purely based on facts and figures. Organizations which start with What and end in Why

    therefore remain Ordinary they dont deliver

    outstanding products /services and dont inspire their

    people to see the world in an differently

  • Mr Prashant then gave a number of examples of extra-ordinary organizations from small local

    enterprises to multinational ones, and explained how all of them had the Inside Out Approach.

    The discussion was then thrown open to house. The members had a great time analyzing their own

    organizations with the golden circle principle, and appreciated Simon Sineks unique discovery of

    this concept.

    ExtraOrdinary - Inside out Approach

    Leaders and organizations with the capacity to inspire -

    think, act and communicate from the inside-out. They

    start with Why. When they communicate their purpose

    or cause first, they communicate in a way that drives

    decision-making and behavior. It literally taps the part

    of the brain of their people and customers that inspires

    behavior.

    Organizations which start with Why therefore become

    Extra Ordinary they deliver outstanding products

    /services and inspire their people to see the world in an

    extraordinary way

  • Vinay Sarda

    Email: [email protected]

    Blog: www.vinsomequotes.wordpress.com

    Utility:

    , :

    | , , , # #

    | * # - # |

    Note: These sentences should always be read and interpreted in context to the

    situation.

    Motivation

    , 1|

    Emotional Quotient

    In India Every God is prayed differently so why not human beings

    ,

    Overheads

    1 # |

    Some business unit/ business activity/ product lines eat profits and make the business

    suffer.

    Food Subsidy

    Airlines: High Fuel Costs

    Owning an elephant Vs feeding an elephant

    Opportunity

    |

    In Rajasthan one has to keep the terrace clean before monsoon so as to collect the

    water which is then utilized throughout the year. One never knows when it is going to

    rain next! Being ready is the only option.

    24*7: Death and Customer can come at any time

    Timing: Buying in Slack Season; Advertising during Recession

    Using Government Subsidies

  • Communication

    5 |

    Mahabharata

    Observational Research: Kishor Biyani observes the buyers directly.

    Conflict Management: Employees often fight because of gossips and indirect

    communication

    Strategy/ Vision

    7 ,

    |

    But yes you should be smart enough to identify the lion. If you support an injured fox

    or rat then god bless you!

    Key Employees: Help them with money, emotional support when needed. They will

    pay you back in a huge way!

    Venture Capitalist

    First Mover Advantage

    Ideas

    58 # , 158 # # 1 |

    | 1

    5 | Always give a second thought. Produce thousands of ideas. Dont stop at the first few

    ideas. They are usually crap!

    Idea Generation

    Decision Making

    Pareto Principle/ Focus on the Core

    ;

  • Fraud

    @ # A ;

    A B

    |

    If you shake hands with a person promising super high returns, then dont only check

    the rings you are wearing; you must check your fingers too!

    Ponzi Schemes

    Handling Praise

    C 1 D |

    Charity: Those who ask for charity always praise you and you end up giving some

    donation.

    Discounts and Credit: Your customers always praise when they need help from you.

    Complacency: Nokia, Kodak.

    Praise others to get your work done.

    Running costs

    1B |

    Ethics

    Satyam

    Goldman Sachs

    HR: If the punishments for mistakes are too high, employees will try to hide their

    mistakes. Have a platform where they dont need courage to accept mistakes or else

    they will find the ways to circumvent you.

    Exit Strategy

    F # C

    5 1|

    Mahabharta: House of Lac

    Business: Exit Barriers

    Law

    Further Readings: Keep your mind, eyes and ears open. Spend time with people of

    different demographics and psychographics. Life throws enough examples. Interpret

    them!

  • Turning around of an Industry Mr. Nandkisore Sarda of Sharda Ispat ltd.

    1.Fear =Face everything & rise.

    2. Your good will & experience are those assets which will help you immensely when you are going

    through the bad phase.

    3. Never compromise on your integrity even when it is very tempting.

    4. Always maintain cordial relations with all your relatives, suppliers, creditors, Bankers & customers.

    5. Dont avoid public contacts when in difficulty. Dont hide behind your problems.

    6. Chalk out a strategy to overcome the problems & diligently work on it.

    7. When you want others to change start with yourself.

    8. Let the austerity measures adopted by you be visible to your employees & creditors /financiers.

    9. If the problem is not getting solved at local level dont hesitate to contact the higher ups even if it

    means meeting chairman of a Bank.

    10.Consultant the consultants but also use your mind.

    11.Avoid the headaches of small problems in advance so that you are free to use your energy to solve

    the big problems.

    12. Take care of your body & mind . Sound body & peaceful mind will give you energy to fight

    problems.

    13. Involve your top management in decision making .

    14. Pay the salary of labour & lower management on time.

    15. Regularly deposit small amounts in the bank even if your account is NPA for the bank. This way

    you will be in category of Non willful defaulter & bank will cooperate with you.

    16. Last but not the least, always remember

    # F

    F

    F

    5

    FH F

    !

    This Post was systematically contributed by our own Member Shri Vinayak Gavhankar

  • 7 DIMENSIONS OF LIFE Vilas Bhimte

    90967 74333

    1) Name :

    2) Passionate about life

    3) Strength & weakness.

    4) Success & learning experience

    5) Goal

    6) Role Model

    7) Relaxing activity.

    1. Name

    Most of the people are not aware about power of their name. Name is the identity of a

    humane being. People by their behavior generally degrade their name. Actually, whatever our

    name, we can take inspiration from our name, for this we write the name and described each word

    of the name that can inspire us. For example, name is OJAS we can describe it as we inspire from its

    description;

    O- Optimistic,

    J- Jolly,

    A- Achievable.

    S- Sporty.

    2. Passionate about life

    We have the passion about life, whatever we do with passion then only we get the best

    result. Passion is the essence of life, a driving force & above all gives use a dignity to live life with

    happiness

    3. Strength & weakness

    We all know that every one is the unique in the universe, similarly everyone has some

    weakness & strength. We should know our strengths & weakness accordingly we act. Our strength is

    the power house of life so we can increase it to more. If we are weak in particular areas we can

    develop properly with the help of others or we follow the proper discipline to eradicate our

    weakness.

    We can more learn from our own experience this experience teaches us in whole life. So we

    seek inspiration from our experience to do the best in our life. Bolstering the strength &

    strengthening. The strength can also be done through experience.

    4. Success & learning experience

    We are doing so many works on do to day basis but we dont know how to create power or

    motivate ourselves & others from our work. In real life, we get so many successes & failures. We

    need to learn from them. When ever we achieve something, we should enjoy the life. Similarly,

  • whenever we fail, we should see the reasons about failure & take action accordingly to turn failure

    into success. Further, people ignore their health, when they are healthy. But when they have

    problems then only they take care of their health instead the theme should be stitch in time saves

    mine. We have to maintain our health daily for this we can do the exercise, walking yoga etc.

    Similarly, now a days we need to built good relationship with neighbors, friends etc.

    a) Career

    Career is very important in life, but 80% people are doing their career in wrong direction.

    People do their as it is offered by fortune instead of creating a career. Good career means where our

    mind & heart lies & we can create new horizons.

    b) Communication

    In general parlance Communication means to communicate i.e. transmit the view. This can

    be through many ways written, oral, language, body language, sign, touch, feelings etc.

    c) Hobby

    Every one needs a hobby but very few people develop their hobby in proper way. So we

    need to develop hobby & give the proper time because it develops inner sense of the individual as

    well as gives more satisfaction.

    5. Goal

    Without goal no one can get their destination so that each one have the proper goal. Goal

    should be achievable and reasonable with proper working plan. Further it should be time bound,

    written & fixed but flexible if required. When we return our goal this goals inspire to do the work

    accordingly, when we do the work we nearer the goal & after some times we achieve the particular

    goal.

    6. Role Model

    There are two types of role models;

    1 to 1 Role model

    Means, the person who have more understanding & experience than us. We can discuss share

    our view/situation/problems etc. with him. Than he gives proper suggestions/solutions to solve our

    problem/challenge. He guides how to face the challenges.

    Universal Person

    On the same thing some universal role models inspire people from their work such as

    Gandhiji, APJ Abdul Kalam Azad, Dr. Baba Saheb Ambedkar, Robert Keyosaki. We can inspire from

    their literature, social service etc.

    7.Relaxing activities:

    After doing the work or when we reach to home from our work we have to relaxed properly

    so that we get energy for next day work in proper manner. So we can do some psychical exercise,

    indoor outdoor games, yoga, listing music & watching TV etc. We can see the movies also.

  • Economy & Markets: Fact v/s Fiction Nirav Panchmatia

    We are living in times of Breaking News & Conspiracy Theories & dirty self-centered politics; Media

    has a great influence on our minds & how we think; may it be in the form of TV, Newspapers &

    Magazines & esp. Social Media in the form of Facebook, Twitter & WhatsApp.

    We get bombarded by NEWS & Information 24 by 7. But what is genuine news & what is NOISE &

    what is a rumor.

    What is the current status of Indian economy? What did our politicians do right & where they

    blundered? Where is the Indian economy headed? Are we going into recession or the worst is over?

    Where to invest your hard earned money today? Stocks, Bonds, Gold or Real Estate? How does

    layman make decisions and differentiate between right information & planted news?

    Investment expert Mr. Nirav Panchmatia, who is also a Financial Trainer, blogger & Wealth manager

    & a regular on CNBC Awaaz biz channel, attempted to clarify these doubts & laid down the principles

    of understanding economies & markets.

    According to him an average investor suffers from some ailments. Jumping to conclusion, not doing

    adequate research & trusting hearsay are some of these diseases that an investor should avoid. Nirav

    further elaborated that only 2 types of people do forecasting with accuracy viz Liars & Fools. So avoid

    falling in this trap of trying to time the markets.

    On Indian economy, he said that it is suffering from acute fever. Now a fever can be a normal fever or

    it can be life threatening too. Indian economy is in a situation where if treated correctly that we can

    come out very easily from the current slowdown. However, if ignored for long time, the fever can be

    life threatening.

  • On Re depreciating, following steps are required to stem the fall:

    Reduce Imports of Oil & Gold, Coal & Iron ore & Capital Goods, Textiles etc from China; Improve &

    Widen Exports base; Reduce Current Account Deficit (CAD), Increase TRUST by avoiding retrospective

    legislation & Control Inflation & Reduce Interest rate

    Nirav also taught how to develop the art of reading a newspaper.

    Some conclusions drawn from recent Newspaper headlines;

    1. NEVER Forecast & never rely on market forecasts

    2. Re depreciation makes India attractive to foreigners & attracts Foreign Capital

    3. The rosy days of CHEAP Money are behind us

    Nirav also shared some principles of investing & said that theses are like the law of the jungle;

    unwritten, unsaid but they do exist; Money is like water; it will naturally move to a place where it

    gets high returns; A Stronger /dominant economy attracts capital & vice versa;

    In Good times, when liquidity is abundant, MONEY flows to places where it will get Higher Returns

    with some Risk

    In times of CRISIS, when liquidity is tight, Money RUNS to SAFER HAVENs like Gold.

    Mr. Panchmatia also warned Investors to beware of Conspiracy theories that get circulated whenever

    an economy or market is in trouble

    Overall, an Investor should always follow the Golden Rule, Caveat Emptor or BUYERS BEWARE. If

    you make right investment decisions, its your wealth to enjoy & if you invest without being careful,

    only you are to blame.

  • Freelancer in the Virtual World

    Mithilesh Jindal

    Founder | Unl0cked.com

    Email [email protected]

    Utility

    Learn how to Work and Earn in the Virtual World

    Learn how to hire and let them do the Task Virtually

    Virtual Way to Earn Income

    Content

    We all are familiar with the Virtual World (Internet) and doing lots of task like gets

    connected with friends , family, business mails, personal mails etcblah blah!!!!

    Do you know that you can earn as well as hire someone to do your task ? Yes. Its

    possible with the help of virtual World.

    In this modern era, Virtual Work or Hire called as Freelancers. A freelancer is a person

    who is self-employed and is not committed to a particular employer long term. These

    workers are sometimes represented by a company or an agency that resells their

    labour and that of others to its clients with or without project management and labour

    contributed by its regular employees. Others are completely independent

    Some of the Websites are :

    1. http://www.freelancer.com

    2. http://odesk.com

    3. http://elance.com

    4. http://worknhire.com

    Just Visit the Above Websites and dont forget to learn lots of things.

  • Marketing & Brand Creation Mr. Vishal Agrawal

    Some of the learnings from the session are as follows:

    1. Always keep the sales & marketing books handy for your reference.

    2. Always remember Most important thing is selling

    3. Product & services are sold & not bought.

    4. 50% salesperson quit after first call. In order to succeed you must ask for order at least 5

    times in different ways.

    5. Always remember Ask and you shall receive. So ask for order.

    6. Convert art of selling into science by using numbers like asking your salesmen to visit 10 shops

    / make 20 calls per day.

    7. Be clear of the need of customer.

    8. Customers buy solutions not product or solutions.

    9. Pitch your product or service at the right time.

    10. Use references to increase sales & credibility.

    11. Brands help to eliminate fear/doubts in the mind of customer.

    12. First sale yourself, then company & then product to the customer.

    13. Listen twice & talk once. When you talk, talk in questions.

    14. Every visual element creates a perception in the mind of a customer. Use it to your advantage.

    15. The dealer should feel that the salesman is his well wisher.

    16. Know names of all the employees of your dealer.

    17. Write down everything. Remember The palest link lasts more than the sharpest memory.

    18. Write down the name of person & repeat it while talking.

  • 19. Price is what you pay to buy the product whereas cost is what you pay to maintain the

    product. Explain this to your customer.

    20. Know the levels of target customer like counter boy, purchase manager & owner. Establish

    rapport with all.

    21. Start sales with open ended questions & close it by close ended questions.

    22. Dont use if while selling your product to your customer.. Make the customer assume the

    ownership of product even before the actual sales takes place.

    23. Use future order techniques: keep options to have sales in future.

    24. Nobody is permanent friend or enemy in business.

    25. Selling is a front office job but branding is a back office job.

    26. Branding is achieved by publicity & maintained with advertisement.

    27. Advertisement is an insurance to retain your position.

    28. Build perception of quality in your brand. Perception is more important than quality.

    29. A leading brand should promote the category not the brand.

    30. Advertisement is not costly. 1.5-2% of sales is okay for advertising cost.

    31. Beautify your product even if it has nothing to do with its use. Perception matters!

    32. Upload your products video on you tube & provide its link in S.M.S..

    33. Demonstrate the quality of your product.

    34. Use walls, vehicles, direction sigh boards, employees uniform for advertisement.

    35. Regular Dealer Meets help in free publicity & foreign trips with them help in developing

    friendship /bonding.

    36. You can use exhibition even if you have no ready product to exhibit!

    37. Your visiting cards should have all the details / photos of your products. Use specially printed

    A4 sized envelopes to get noticed.

    38. Some of the books worth reading for sales & branding are (a) The 100 absolutely unbreakable

    laws of business (b) 22 immutable laws of branding (c) The sales bible & (d) the videos of T.S.

    Madan in Hindi

    This Post was systematically contributed by our own Member Shri Vinayak Gavhankar

  • Executive Committee 2013-14

    Ritesh Panpaliya President 9890 601 325

    Prafulla Baid Vice President 9373 110 107

    Mustafa Maimoon Secretary 9823 717 455

    Yusuf Master Treasurer 9373 106 038

    Rohit Chandak 9371 270 655

    Sachin Jahagirdar 9822 325 265

    Anand Dhopte 9373 110 292

    Nayan Divecha 9823 060 715

    Saurabh Mohta 9225 241 155

    Prasad Phasate 8087 005 878

    Vinay Sarda 9890 676 987

    Disclaimer:

    The Views and the learnings expressed here are the Opinion of the speakers and the audience respectively and not of

    Vidarbha management association.

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