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At just the third meeting, Mr. Mishra reprimanded Mr. Rajpurohit for the lack of managerial skill, insufficient financial arrangement and limited technical knowledge concerning the proposed unit.
Mr. Mishra immediately articulated the difference between ‘common to all’ embroidery technology and crochet technology and recommended Mr. Rajpurohit to go with crochet technology since it represented a higher scope and potential.
Mr. Mishra then worked out a project report and submitted the same under PMEGP (Prime Minister Employment Generation Program) which enabled Mr. Rajpurohit to obtain a 25% subsidy and thus solve his problem of insufficient funds.
In the meanwhile, Mr. Mishra also started EDP Training for Mr. Rajpurohit to develop his managerial and technical skills.
The training has now
been successfully
completed, the subsidy
has been sanctioned
and Mr. Rajpurohit now
commands a full grip
over production and
sales of laces
produced on crochet
machine.
A helpless entrepreneur has thus got true and fair consultation in all respects in an efficient time frame to be able to step out in the market confidently and fearlessly. Thanks to
msmementor.in.
Success Story II
Mr. Sundar Nadimpalli
of Nu Dzine, Bangalore
had launched a new
product, Zine Zoomerz-
a simple and yet
highly practical
safety harness used
for children between
the age group of 2 to
7 years designed to be
used on two-wheelers
(scooters and
motorcycles), a year
back. He was, however,
struggling with the
sales and marketing
strategy for the same.
He then enrolled on
msmementor.in
to find a
Professional/ Expert
who could mentor and
hand-hold him. Through
msmementor.in,
he was able to find
Mr. Anil Kumar Gupta
(also based in
Bangalore). Mr. Gupta
helped him in devising
a marketing strategy
as follows:
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a) |
Products sales
were taking off
against each ad or
write up in the
newspaper but were
dropping
subsequently. It
was thus suggested
by Mr. Gupta that
advertising is not
worth the
expenditure as
expenses were more
than the revenues
generated from the
same. Exhibitions
gave them maximum
sales but it was
clear that it was
not viable as
participation cost
was more than the
revenues
generated. |
|
b) |
Ideal customers
were mothers with
kids between the
ages of 3 - 5
years. It was thus
suggested to focus
on schools with
kids between these
ages. It was also
suggested to by
him to explore
potential with
dealers of new two
wheelers. |
|
c) |
It was also
suggested by Mr.
Gupta to raise the
MRP to the maximum
possible amount as
this was a low
volume market and
as such volumes
were not price
dependant. |
Mr. Gupta was also
able to assist Mr.
Nadimpalli in
several other
aspects as given
below:
|
|
a) |
Since the
company’s strength
was in design, it
was suggested by
him to focus on
the same and
further build
their design
capability, and
not on
manufacturing or
marketing etc.
Furthermore,
instead of
manufacturing in
house, it was
suggested by Mr.
Gupta to outsource
the manufacturing
(instead of
spending many
years on learning
the various
aspects of
manufacturing),
that too from
multiple vendors
to avoid copy
cats. |
|
b) |
Mr. Gupta also
advised them to
launch the 2 new
products (which
were in the
pipeline)
immediately as
sales from these
products would
provide them with
a positive cash
flow and help them
in paying their
bills and
salaries, since
sales from Zine
Zoomerz were not
generating enough
money. |
|
c) |
Mr. Gupta also
advised Mr.
Nadimpalli to
introspect and
think about why
they were in
business and
define a clear
purpose. This
would enable them
to tide over the
struggling period
and come out as a
winner. |
In
conclusion, Mr. Gupta
helped Mr. Nadimpalli
in many strategic
decisions regarding
the overall operation
of the firm and the
direction to take.
Thanks to
msmementor.in.
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