More Challenges

Challenges:

Its a long time since my update, the reason being, i wanted to put something positive, it has been hard 2 months may be because of general problems in business environment, I did get few few orders but the operational cost exceeded than expected and hence could not make any margin.

Learning:

Never reduce your margin to get the order. Normally when getting orders become difficult the general idea is to reduce the margin and hence reducing the cost to get the orders to stay in business, i have learnt that it is a bad idea to reduce the margin.I was convicing myself that i would get furthur reference, but the idea of barganing goes as reference, any reference from the installation will be a reference for a low cost product and not a refernence for a great product at lower cost, references do not speak technically about the product but speak about the cost of the product.

Learning for people in business:

I have learnt the following from people in business, i understand its common sense but it is very difficult to follow:

- Reduce the cost on other areas and not on Margin.
- Increase the product range to target customers
looking for Quality low cost product.

It is very easy to say this, but when it comes to operation, there would be no place to reduce the cost. I have now figured out few cost reducing stratergy for my business.,

E.g: For every installation we used to buy a default set of acessories required and was validating the purchase for future use, now I have reduced the accesories purchase to only to the required amount, not in excess, we no longer buy 20 feet long pipe, we buy exactly how much is required, also identified supplier who case give small pieces of pipes.

I am deeply worried about the ongoing attacks on Mumbai, it has brough a very negative sentiment, I am very happy that there is geat sense of unity felt all over
the place to fight these ****** terrorist, we will all have to fight these idiots in some way. Politicians are not worried about this instead they are worried about the forthcoming elections, are these people worth the respect and fame they get.