Learnings from BIZCOVER America

IDEAS on cost mgmt Take 3 yrs avg of gross/net profits Take 3 yrs avg of all costs Convert avg costs as a % of avg profits Project sales and profits for the current year as multiplier of the avg values Breakup the sales and profits as on a monthly number based on historical data

IDEAS on cost mgmt … contd Lock costs of current year as a % of (avg profits* multiplier) break up the avg costs into monthly cost based on historical data Track sales and costs on monthly and year to date basis Reduce costs wherever possible without losing functionality Do not pass on cost to the product/customer

Gems from Mr. Neethimohan’s talk Doing the right thing is more important that doing things right Where margins are more try and reduce cost, where margins are low look to add value, look for newer markets or look for a new product I^2R^2 Information- Response- Involvement- Responsibility

Key to employee happiness Hire for attitude train for skill Provide adequate training and update training on an ongoing basis Ensure job satisfaction Recognize publically /censure in private Remuneration should be commensurate with skill/experience and above all market value

Key to employee happiness….contd Have a career path with clear growth charts for every employee Have a training calendar for each staff Delegate continously and delegate more Have a positive outlook always Create a transparent work environment and bonding

Out of the box/ contrarian ideas To reduce salary advance defaults / misuse start a chit fund if the numbers permit Segregate waste, try to salvage value on HDPE packing Analyse all operations and eliminate unnecessary /wateful operations and costs Discard old ideas when they outlive their time Do not be emotional in business

Zappos Family Core Values Deliver WOW through service Embrace change and drive change Create fun and a little weirdness Be adventurous, creative and a Open minded Pursue growth and Learning Build open and honest relationship with communication Build a positive team and family spirit

Do more with less Be passionate and determined Be humble

One picture says it all

Thank You