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Minority Business Forum

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Short Structure of Business Forum:

How we function

1)Group of business minded business owners who are running business as a full time activity to share contacts and the experience in a call in a structured manner. 2)Desired Frequency of a call - Weekly over Video (online). 3)Monthly seminars and workshops on business and profit improvements. Or activities designed to get higher profit in existing business. 4)Not required to close existing business while exploring other opportunities. 5)Exclusive registrations – i.e. one registration per business segment (e.g. if you are dentist, no other dentist would be allowed at the given location to be member). If more than one person from any industry is observed to be participant of the group aBusiness reserves right to remove any one. Decision would be taken based on the tenure and contribution to the group as observed by aBusiness or its representative. 6)Increasing membership pricing. It means aBusiness may charge higher amount to new members as the number of participants increase. 7)If any member do not get connected within 5 minute of starting in two successive calls (online video conference), he or she would be treated as a new member and tenure would be reduced by one month for calculations as in point 5 and 6 above. 8)Points structure designed for all members for doing a good job e.g. for giving referral business to other business owner (Points to be given by the business who receives a favour after verification and realization of payment). 9)Few of above systems are under development and active members would be informed about the launch or upgrade to existing system. These systems would preferably be online. 10)Every members speaks in a given format for at least 2-3 minutes in a structured way.

Format of speaking (2-3 minutes)

I Mr. First Name , Last Name working as DESIGNATION and owner of ORGANISATION wants to declare my achievements of a week as below – Number of business inquiries passed on Total amount of business referred. (Approximate amount in rupees was –). Achievement in my own business due to other member’s leads was rupees — Achievement in my business due to my own efforts is rupees   – optional   I Mr. First Name , Last Name working as DESIGNATION and owner of ORGANISATION wants to declare my targets of a next week as below – Number of business inquiries to be passed on — Total amount of business to be referred. (Approximate amount in rupees). Achievement in my own business in rupees would be —.

By joining Minority Business Forum on aBusiness you agree to –

1.Provide genuine information 2.Disclosure of provided information personal contact details to participants – ( Information shared should be used to get or offer business leads without any expectation.) 3.Not to disclose any business critical, patented or to be patented, trade secret. aBusiness do not require any private information and is not liable if  it is misused by any of the member or otherwise. 4.Not to mention a name of any competitor or other organization who is not a part of the group. 5.Be in formal and business attire and present a best possible impression of yourself. 6.Share own video whenever is it asked to do so. (Participants should see you for better leads sharing). 7.Receive emails and add the email address of aBusiness to contact list. 8.Abide to new policies as and when they are updated and communicated. 9.While accessing online content by aBusiness you abide to the policies as stated on www.abusiness.co.in/terms and on www.abusiness.co.in/privacy/index.html 10.Report via email to abhijit@abusiness.co.in or during a call if any suspicious activity is observed about any of the group member or about aBusiness. 11.Not to share any information disclosed by any of the group member to outside of the group. 12.Final decision right to be exclusively given to aBusiness for any matters related to group and activities of group. 13.Ensure proper security measures on device (Mobile , Laptop, etc.-) which you use to access any online content and during all video conferences. 14.Membership termination rights to aBusiness if aBusiness suspects any false information or threat to the group or any of the member. 15.All points stated as under heading “Short Structure of Business Forum” above and “Other important Terms and Conditions” as below . 16.New additions to points stated as under heading “Short Structure of Business Forum” above and to the new additions to “Other important Terms and Conditions” as below. 17.Giving exclusive rights to aBusiness to add or delete any member to referral system/scheme or to any other scheme/system mentioned above or otherwise. 18.Be active listener in all video calls or events by being in front of the camera all for entire scheduled duration of all calls. 19.Participate by unmuting the microphone if host requests you to speak. And mute microphone after the allotted time is over and after completing the desired speech. 20.Keeping microphone muted whenever host is speaking. 21.Update contact information via email to abhijit@abusiness.co.in and as a declaration in a call to all members present. 22.Validate information received by third party and genuineness of the third party before passing on the information to group or any member of the group. 23.Share links of personal as well as professional profile of own which are available on social media and company websites or industrial listing website. Other important Terms and Conditions: 1.Amount paid is non refundable and is paid without any obligation. 2.aBusiness or any of member or associate do not guarantee any amount of business or any quality of business leads. 3.While we at aBusiness are taking adequate security measures to protect online information, we do not take any guarantee or commitment against viruses or uptime of the website or information stored therein if subject to any malicious attack or any system issue.


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Why to learn and apply the knowledge ?

“The key secret to success is not excessive expertise, but the ability to use it. Knowledge is worthless unless it is applied.”

— Max Lukominskyi

“When the student is ready the teacher will appear. When the student is truly ready, the teacher will disappear.”

— John Smith

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OurInitiatives

World Awareness Drive

A quick check on whether we as a world are moving in a right direction

See article on world strategies which are in use today. A reality check to understand why is it right or wrong if it is.

Minority Business Forum

Group of entrepreneurs willing to be world class

Group of business minded business owners who are running business as a full time activity to share contacts and the experience in a call in a structured manner.

BAG Model of accessing current business position.

BAG stands for Bargain And Grow ! BAG is me Bharati Abhijit Goraksha !

Have you ever wondered how different businesses are using different strategies and still few are doing extremely well and majority fails.
Few people fail even after copying a successful business !
I hope you will find many of your answers here. And if you find it do not forget to comment and let the world know !

Answer to a top concern of a business owner or an entrepreneur is given below. I want to be nice to you by telling this 10000 crore worth methodology in a free publication. I need a promise from you that you will share it to all entrepreneurs who are willing to improvise.

Business assesment model for small businesses

SWOT analysis is a buzz word in business domain and more so in B-schools. I assume here you know your business well and you know what strengths , weaknesses , opportunities and threats your business posses.

 

Going a step further we arrive at product level decisions. Every single product is important for any business. Its a baby of an entrepreneur !

 

How to calculate price and value of a product?

 

Below is a step by step guide to arrive at a statistically correct price and value. There are certain assumptions I have made , but let us focus on the core concept. Hundreds of pages of research is always summarized for C level executives.

 

That’s the reason I said above picture is worth 10000 crore. If you understand the basics, hundreds of pages can be built around it for less than a crore.

 

Y-Axis:

Vertical line represents price.

 

X-Axis:

Horizontal line represents value which customer derives out of the product or service.

 

Method of arriving at results:

A: Price

1. Please choose a statistically valid sample of similar products. Let’s say we have a sample of 10 products of which one is our companies product and 9 are competitor products.

2. If you are studying car as a product and if car prices range from 2 lac to 30 lac, your Y-axis to be marked from 0 to 30 with 30 price intervals. One interval for every one lac of rupee.

 

B. Value

3. Random group of 100 people can be taken as a test sample who can be our customers or users of the product. (Higher samples might be required in certain cases).

4. Do not inform price of product to these 100 people.

5. Let all of them use all products and take a rank from 1 to 10 for all products they used.

6. A product which received highest rank should be assigned a value of 10.

7. Product which receives lowest value should be assigned value of 1.

 

C. Plotting

8. Now simply a mark needs to be put on above graph with corresponding figure of price and value.

 

Interpretation:

 

Depending upon where is a dot appearing for your product and also where are the dot for other products, you need to fix the above matrix so that there is a proper coverage. Your dot might be in one of the below squares.

 

Leave / Least Competitive :  

 

Top most position and a left corner gives a “Leave” signal. There is no point in continuing that product.

If product is slightly at right side but in top left square it is a clear indication that product is “Least Competitive”.

Naturally focus should be on adding value and reducing price both at the same time.

 

Survive on marketing :

 

Top right corner indicates almost all MNC products and top selling brands which are actually surviving on advertising.

There is a natural balancing which happens and a product with lesser value will do lesser advertising as effect of advertising works better for a better product.

Rather job of a marker is tough when product is at a left side of top right quadrant as marketer would be required to create a value perception out of advertising.

 

Reduce margin / bargain / wait for buyers :

Bottom and a left most side is identical to a scrap. Scrap is a throw away , may be old newspaper or broken utensils. Bargaining for a high price is the best strategy as it appears to me.

A left most side but slightly higher is a “Reduce Margin” point. Here though the value is missing product still carries a small price. Owner is obsessed with her product and think its a nice one. But market does not value it. A good way to get buyer is to reduce the margin.

At the bottom but slightly to the right is a wait for buyers. Here value is slightly higher at a lower price. Though a large value product exists in market, waiting for buyer is what pays off to businesses during a peak season.

 

Now you know why plenty of businesses are waiting for “Diwali” . (“Diwali” is the biggest selling period for Indian businesses).

 

 

Enjoy :

 

If your product is at a bottom right position you are simply rocking. It appears these are the products which do not require a high priced consultancy. But in reality these product owners are the one who invest either their own brains or of a consultant to reach the place of enjoyment.

 

Innovate :

 

Center of all is innovation ! Highly competitive products always use innovation as a base. If power of innovation is strong enough no matter where the product is at present, it can achieve a highly competitive status in future.

 

My suggestion to a new venture:

 

Typical new product or service stands at left most part on the horizontal X-axis with little value.

I suggest a move from “Bargain” to “Wait for Buyers” by adding extra value and being more competitive. A step further would be a move from “Wait for Buyers” to become “Highly Competitive”.

 

I have seen many start-ups who reach “Wait for Buyers” stage and finally decide to get out of the product or service. They then “Wait for Buyers” for their start-up.