THE UNLOCK 1.0 MY BUSINESS MY LIFE

THE ESSENCE OF GOOD ECONOMIC FOR BAD TIMES...is gone. the era where we learnt a lot on how to fight the downturn has a new meaning now. 

Reminds me of a short story.." a man is told by a doctor that he only has half a year to live. The doctor advises him to marry a banker or an economist and move to Mumbai, The financial capital of INDIA. 

Man: " Will this cure my illness"

Doc: No, but the half year will seem pretty long" 

This is where we are today. No answers to any questions. No planning for near future . No analytical reports to support what's in stored . Just plain guess. And when you play the game of guess, you have just as much chance to win as to lose. 

With these tough times, what should be the business mantra . I have tried to figure out some of checkpoints to look at the upcoming days with confidence : 

A. THE BOTTOM LINE MANTRA: the value of business was the cash it generates for the future . To add to this the value of the business now will also be the cash it conserves for the future . So look at operational efficiency. 

B. THE MANAGEMENT MANTRA: great products, great size , great execution and great management will now create a long term competitive advantage. They were not enough, but now will be equally important as you have once established the need of your product or service. IN OTHER WORDS, START BETTING ON THE JOCKEY TOO NOT JUST THE HORSE

C. THE INTANGIBLE MANTRA: The four sources of structural competitive advantage are Intangible assets, customer switching costs, the network effect and above all cost advantages. so the real mantra ts return on capital 

D THE FISH MANTRA:  Being a big fish in a small pond is much better than being a bigger fish in a bigger pond. the focus on fish to pond ratio will be a new age mantra. 

E. THE EXIT MANTRA:  After all business and ego should not go hand in hand. decide what is the best value you can get and leave the business to someone else. may be it is a nice decision. the real question is " WHEN" rather than " WHY". Ask yourself. 

F. THE DECISION MANTRA:  make a decision, stick to it and jumping straight into action. The real mantra will be HOW FAR SHOULD YOU STICK TO YOUR DECISION. 

All these are the new age business "to do" things. A business can run on demand , supply and all the economic laws . But the most important pillar of a business is "PEOPLE BEHIND THE SHOW" . The strength of the management. and this will be the most tested virtue of all businesses in the coming days. 

We all need to realise that all business will now go against the popular opinion, will be for sure thwarted, scoffed at or even cursed. But the real test is to come out of all this stronger, fearless and better equipped . 

All the best to all of us ...

We are ready UNLOCK 1.0

LOVE and LUCK

Sunil Kataria

CEO||LIFE

www.life-india.com

[email protected]