Having received a quality education and impeccable work experience in the field of sales, I believe I am slowly evolving in my career. This has enabled me to reflect on and become aware of some general principles that apply to every industry.
To give you some background about me, I started my sales career as a fresher from college in the lighting industry. In my career with my previous organization, I was able to gather comprehensive knowledge of the marketplace, build quality networks and analyze my path in the sales field.
However, I never expected that there would be a turning point in my life where I would get enthusiastic about the fashion industry would start enjoying it with the utmost zeal.
Everyone, brace yourself for my interpretation of the Three I’s Rule for business success.
Intent, or in other words, the purpose to do something is an important pillar of success. Having the right intent will enable you to define the following aspects of your business:
The intent is applicable to an individual in any industry. For example, a designer (fashion industry), a pilot (aviation industry), a consultant (services industry), etc.
Defining the right intent allows the buyer to purchase the product or use the service you are offering as it adds value to not just your business, but to their lives as well
Have you ever wondered what can’t buy happiness but can surely enhance your business? Yes, it’s money. The investment. The funds. The growth and expansion depend upon not just the sales, but also the investment.
With Whom, Where & How Much to invest in:
This includes the opportunity as well as the target audience for investment. Finally, you want to generate revenue from your investment by targeting the right group or segment of people. This is of the utmost importance as they are the ones who will bring maximum business to you.
This includes the business you are investing in. This is the most crucial step as it will determine the scale at which your money grows.
This includes the amount of investment. Once you have decided to invest in a particular location, you need to analyze the amount of investment. In the case of the manufacturing and retail industries, push sales are key to expansion. However, a stock overload may lead to obsolescence and less liquidity. Therefore, you should only decide to add more if funds are available.
The intent to do a business and investing in it won’t be scalable in the long run if you aren’t involved in your idea. It has been my experience that people with large amounts of money sometimes lack involvement in their business.
The fashion industry recently experienced an instance where a buyer was rejected from the second round of collection because he failed to participate.
So, if you don’t have the right direction, your efforts would not yield the expected results.
This brings me to the end of my article and I’m glad I was able to share my experience with you. I do hope that the next time you decide to enter the market or expand in it, you consider the above factors and assess appropriately.