Well to have Profit we need to have a profit mindset. Let’s see it’s recipe.
- SHORT TERM PROFIT/LONG TERM PROFIT
- SMART GOALS
- GROWTH MINDSET
- SKILL SET FOR GROWTH
- TOOLS
- MANPOWER
Let’s go into the details of each recipe.
1. SHORT TERM PROFIT/LONG TERM PROFIT
First, decide whether you are looking for a long term profit or a short term profit. Once you have decided then plan accordingly and set your SMART goals.
2. SMART GOALS
Now it’s time to set your SMART goals. So, what actually SMART goals mean? It means that your goal should be:
- Specific – Be clear on what you want.
- Measurable – Quantify your goals.
- Achievable – You should have the capacity to achieve it, or believe you can achieve.
- Realistic – It should be based on facts and figures.
- Time-Bound – There should be a deadline.
So instead of saying I want to sell more, if you say, I want to sell 50 products worth INR 5000 in the B2B segment in one month that is SMART.
3. GROWTH MINDSET
Growth mindset is a willingness to learn and grow continuously. It’s an affirmation for growth.
- LIFELONG LEARNING (Conscious Learning) – You know what you learn and how to use it.
- EXPERIENTIAL LEARNING – Applying what you learn, it’s experiential, not just bookish.
- ADOPTABILITY – Focus on growth, other things can align with your growth plan.
- HOLISTIC APPROACH – Get it straight and hard! You can’t grow alone! I grow by helping people grow.
- JOURNEY, NOT THE DESTINATION – If you don’t like the journey, you will stop or drop!
Growth Mindset is the fuel to your rocket, you are riding towards profit!
4. SKILL SETS FOR GROWTH
- LISTENING – Consciously listen, watch and note things around your market.
- SPEAKING – Learn to express, do storytelling to explain.
- EXPERIMENTING – Don’t hesitate to experiment with your ideas.
- RISK TAKING – Take calculated risks.
- MARKETING – Know how to make your customers aware.
- SALES – Help your customers buy your products.
- EMPATHY TOWARDS YOUR CUSTOMERS – Create something genuine which solves their problem.
5. TOOLS
- Day Planner – Google Sheets comes handy.
- Grammarly – To improve your accuracy in communication.
- Goal Tracker – List and track your goals.
- Reading List – Have your books ready which inspires you.
6. MANPOWER
- Hire to Save Money – Sometimes outsourcing is better than having in-house teams.
- Hire to Save Time – Time is money, use your time to make money 🙂
- Hire people who are better than you – Get skilled people to the team, use their experience. Hire people who can Replicate your tasks – Find like-minded people who think like you.
- Get Team Players – Who complement your team.
- Get Talents and Nurture – Young Minds need space, mentoring and support to grow.
- It’s always P2P and if you are surrounded by good people you are bound to grow!
- We only earn people, if you have good people in your team, you are rich! Else Poor!