Key Performance Indicators (KPIs) are a great way of measuring how well your Property Management team is performing. The problem many people have is deciding what they should be measuring. There is a risk of having too many KPIs so we are dealing here with the KPIs which are most commonly used by leading Property Management departments.

​It’s been more than a decade since organized retail came up in India. In the early phase of development, it was just restricted to plaza culture. Post 2003, mall culture started multiplying in the metro cities, and India started becoming the hub of organized retail. The modern Indian retail industry has gone through a plethora of changes to attain the stature that it has now. This article shows the way forward to establish successful shopping malls and commercial properties.

India is on the threshold of major reforms and is poised to become the third-largest economy of the world by 2030. The tech-savvy and educated population, skilled labour, and a strong commitment to calibrated liberalization of India will enhance the achievement of its economic vision.  India's manufacturing sector has evolved through several phases and today  Indian manufacturing companies in several sectors are targeting global markets and are becoming formidable global competitors. Many are already amongst the most competitive in their sectors.

The term Hospitality refers to the friendly and generous reception and entertainment of guests, visitors or strangers. The Hospitality industry is a broad category consisting of the service industry and the tourism industry. It includes Hotels, Restaurants, Event Planning, Transportation etc.  It is a multibillion-dollar industry that depends on the availability of leisure time and disposable income. While this industry is very broad, there are some defining aspects that are important to understand.

By Ameen Ahsan

India is passing through strange times. A sudden demonetization of the commonly handled currencies have created a havic in the market. It has created substantial chaos to the people, the market and the investors, at large.
 
At Ameen Ahsan Strategy Consulting, we believe that we should make the best of any worst situation. Changes come to the business world, either in a predictable slow way (which gives you time to prepare), and sometimes in an unpredicted manner (like when a natural disaster like earthquakes happen). Either the way, an entrepreneur should not waste his time, crying over the change; instead should find ways not just to survive, but to win.
 
Naturally, when there is a “shift”, most businesses will stumble. The familiar nature of doing business becomes unworkable. Many businesses close down at this stage (because they are not ready to change their ways). This is an opportunity, for the determined businesses, to change its ways, survive and make best use of the lower competition.
 
Recessions, are such opportunities. To start fresh, with lower competition. The present economic situation is also similar. Now you have to decide, if you will lament and be out of the business; or evolve and use the present changes to your benefit.
 
What will happen to the businesses, that has no idea how to go ahead?

• They will wish that this “phase will pass” and do nothing
• As they do nothing (like introduce swiping machines), customers will slowly move to shops that have these facilities
• Once customers start using other shops, they disconnect from their old shop (to which they were loyal visitors), and establish new loyalty to the new shop. This relationship might continue even if the old shop starts using the swiping machines, at a later stage. And there lies the biggest threat. The customer gone can be gone for ever.
• The customers who do not have a bank account or ATMs will be forced to have one, as life becomes difficult the other way round. Meaning more and more customers will flow away from the old format shop.
• Even at the Purchase side, the old format shop will face challenges. Suppliers will start providing stocks only for payments through banks (online transfers or cheques), meaning the old format shop will have to pay in “white”, and which means he documents his sales also in “white”. Old format shops will find this shift of “exposed” business, too intimidating
• All this will require him to have a proper accounting system that is tax compliant, for which he will need better qualified staff. Now new generation qualified staff, do not like to work anywhere. They like a good envirnment where they can grow (money is not the only motivation). This means more management challenges for the old format shops.
• All this could mean that, old format shops, will have to transform totally, to new age businesses, if they have to survive.
• Not all businesses will survive, is going to another reality. Many have had only a simple business model- buy unaccounted stock, sell unaccounted stock, use cheapest man power, make money. This formula may not work in the new scenario
• These businesses might slowly begin to close down, and may be within a year or two, will be forced to exit the market. And God knows the best
• As they exit, they leave an opportunity to the businesses, that positively evolve

 
So how should these businesses positively evolve?

1. Change in attitude: Move from a “self employed mindset to a professional Entrepreneur” mindset
2. Change Business Model from “cheapest shop” to the “best shop” mode
3. Be transparent, pay full taxes (have proper accounts)
4. Have a vision, manage your business to achieve it (a good vision helps you make better decisions, saves investment, saves focus and saves effort)
5. Don’t employ staff, but hire, train and develop a “team”. A team who you can use to facilitate your growth
6. Build a system and professional process, not dependent on any specific individual. (So business goes on, even if the most important staff dies, leaves your organization or even becomes your competitor)
7. Don’t be a business for everyone; but select your customer category- pamper them (So business can focus on making profits by selling quality products at higher margins)

 
In other words, business needs the following transformation;

1. Study the market, once again (identify the new target customer segment)
2. Create a new vision for the next 25 years, and have a detailed one for the next 5 years
3. Change your Business model, to attract the new “target customers”, and to be inline with the “new vision plan”
4. Develop startegies and plans (like Branding, Marketing, Sales, HR, Operations, Investor Management, Risk Management, Equity Structuring, Corporate Governance, Technology Implementation etc) to help the business achieve its ideal Business Model
5. Prepare Budgets to know how much money is needed to implement the “Strategies and Plans” and how this money will be raised (own funds, investors funds, bank sources etc)
6. Prepare a detailed Action Plan for the first year, detailing who will do what task, and when.
7. Periodic Evaluation & Review: A plan is of no use, if its not evaluated and tracked. Employing external experts to help businesses in this review is also a good strategy.

To transform your business, call +91-7558-900-800 or email info@ameenahsan.com

**

Most entrepreneurs think that advertising and branding are the same. It is wrong. Branding is about "how you position" your company in front of your potential customers, while advertising, public relations, product packaging, your logo, website, your interior designing etc are the tools to support that "brand image" creation.

"Brand image" is the image or the impression that your customers have about you when they see your company products or ads. Usually, the image that the customer gets is different from what the owner wants his customers to feel.

The entrepreneur has to periodically do surveys with his customers and others to know what impression they have about their brand.

*Relying 100% on ad agencies without doing these "audits" will be suicidal.*

If you do not have the time, resource or expertise to do a brand audit or branding strategy, engage professional business strategists.

Business Insights by Ameen Ahsan @
*Ameen Ahsan Strategy Consulting*

7558-900-800| www.ameenahsan.com
7th Floor, Hilite Business Park, Calicut

*Business Research | Strategies & Plans | Change Implementation*

Unlike the past, world around us is changing by the second. The technology is leading the change that affects all aspects of our life. A new technology changes our economic conditions ( some jobs and business become extinct, some new jobs and businesses models are created etc), such economic changes affects our lifestyles ( likes, dislikes, relationships, priorities and preferences), and such lifestyle changes affects the law, taxation of the country; so on.

So to win in this fast changing world, we simply have to forget many things we learned in the past; forget many rules we lived by; forget many comfort zones we had; forget how we had relationships maintained.

This is not easy, if you hate change. In fact those who hate change are definitely going to fail. But if you are pro change and actively monitoring things happening around you, and ready to accept it, then you can adapt well and win. 

This is how you unlearn what you had previously learned; and learn new things always. 

Clarity of Thinking is important for Right Decisions. If you can't do it by yourself, engage experts to help you. 

Best of luck for you and your enterprises!

Business Insights  by Ameen Ahsan @
Ameen Ahsan Strategy Consulting

7558-900-800 | www.ameenahsan.com
7th Floor, Hilite Business Park, Calicut

Business Consulting | Feasibility Studies | Project Reports

There are two types of businessmen. One is focused on only earning enough to maintain his family. He is not interested in growth. He only wants to survive in a changing world- "~The Jeevichu Povatte Mentality~". They focus only on "Survival Thinking". They form associations to oppose any new development, technology or law. As they are always afraid a change will force them to change. They have basically employee mindset and not an entrepreneur mindset. They will not grow. Even their children might not be interested in continuing their business. 

Then there is the Entrepreneurs who think of growth, expansion. Even when they are a startup, or struggling to be profitable. They have a big picture. They have a vision- even if it is unclear. They accept any change that is caused by a new law, technology or other ; and find out how to make best use of it. Their businesses continue and grow for many years, and even their children will join them.

Change your thinking from Survival to Growth.

Clarity of Thinking is important for Right Decisions. If you can't do it by yourself, engage experts to help you. 

Best of luck for you and your enterprises!

Business Insights  from
Ameen Ahsan Strategy Consulting

7558-900-800 | www.ameenahsan.com
7th Floor, Hilite Business Park, Calicut

Business Consulting | Feasibility Studies | Project Reports

We see them in almost all organisations / businesses. These are employees who work for the sake of salary alone. They do what they are told. And they don't act even if they see a need to, unless ordered to. They are disconnected from the general vision, general problems of the business. They don't use their brain or heart for the business. 

You can easily identify them by just looking at them. Or watching how they work. 

These are not the right employees and you need to change them or replace them. 

But what made them so? 
Most businessmen will run to find a good HR trainer to "repair" their staff. But before you do that, do a check on yourself. Did you make them like that? by,
+ Not giving them any importance
+ Not appreciating their ideas and suggestions
+ By insulting them
+ Not trusting them with higher responsibilities
+ Not having a vision yourself
+ Not following ethical practices that they stopped respecting you

The list goes on. So first make sure you are not the reason. Then make sure their immediate manager is not like that. If so, be the change first, then employ an HR trainer.

If you are ok, but they are still so. Replace them with passionate people. 


Best of luck for you and your enterprises!

Business Insights  from
Ameen Ahsan Strategy Consulting

7558-900-800 | www.ameenahsan.com
7th Floor, Hilite Business Park, Calicut