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How changing life style provides numerous business opportunities to the discerning entrepreneurs is evident from the following facts.
Besides basic needs, wherever human comfort, convenience and style is concerned there is business.
Comfortable living is the basic idea of modern day living. And living in comfort does not mean keeping off the styles. The modern consumer knows how to live in style - comfortably. If you get up in the morning with a back ache, feeling of tiredness, chances are that your mattress is not comfortable. With increasing awareness about personal health and well-being, the modern day consumer wants the right kind of mattress that gives maximum comfort. A mattress should not be too soft as it fails to provide back support causing severe backache as you wake up and which persists throughout the day. Maximum number of people spend most part of their day in the office chair. Therefore, it is necessary that it is comfortable and helps you sit in the right posture. Some of the chairs in the market offer contoured lumber support while others are chosen for height adjustment. Check out life around you. Sleek is out and chunky is again in after a brief gap. Wide ties are in and so are the chunky pieces of jewellery. Similar rule applies to the prints of your dresses and accessories.
The change over to comfortable modern living is apparent in the houses built a decade ago. These days, every inch of space available is used wisely. The bouse is not just a combination of rooms but an extension of the personality of the inmates. It is planned keeping in mind the requirements of all the members of the family. As a result each room has a special significance. Not only the rooms, todays man wants comfort beneath his feet too. The ;result is the mind boggling range of designer tiles and carpets. Marble may be for the emperors, but the now available ceramic tiles have brought a more diversified range and varied colours that are scratch free and quick to clean. Bathrooms, these days too have come of age. No more neglected dark corners, increasing awareness about hygiene and comfort have made these as important as any other room. The times are changing and so are our requirements, And the result is showing in India getting the international attention as a growing market. The invasion by foreign brands has added to the stiff competition among the Indian manufacturers and the result is improved quality and better services. This holds true for all the commodities in modern-day living. Right from textiles, foods and auto industry The global interest is overwhelming and the Indian consumer is today ruling a completely buyers market.
Style has been added to the living. The comfort of lazing around indoors with coolers or air-conditioners is irresistible.
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To understand the significance of style in business it is essential to define what style means in the context of business. One of the dictionary meanings of the word style is : manner, form, fashion, esp. when considered superior or desirable. In a broader sense, we can say that style is something that distinguishes one product or service from another in terms of its uniqueness, superiority, its presentation or manner. To elucidate a little further, if we talk of style in terms of food, the food with style will be one which tempts
you to eat because of its particular way of cooking, or its taste, its quality of freshness, hygienic handling, uniqueness of presentation, etc. Style, in the world of fashion And all of us know now the latest fashions give birth consequently to a sort of craze in the society and create demand in the market.
It is the style of introducing your product in the market, the style of dealing with your clients, the style of offering your services to them that counts a lot. The team behind Damania Airlines recognised the fact that people need the kind of services which are offered by international airlines and introduced better hospitality and services. It is the style and kind of their service that made the airline a big success.
Such is the impact of a distinguished style that it becomes a deciding factor for a customer when choosing what to buy, which services to be utilised, which hotel or restaurants to visit. The Indian film industry churns out one after another formula films of every type but why Sholay had a spectacular success, you might wonder. If analysed, you will find there was a particular style in action, fighting scenes, acting, sets, etc, which was the main reason behind its success. After Sholay a number of similar movies were made but nothing came at par with Sholays success. The lesson: create your own style. Imitated style is hard to impress.
Style, today, has become an integral part of our life. And it is bound to stay for all times to come. Now style is associated with people at different level. For example one is dubbed as Executive Lifestyle. The lifestyle of an executive begins with some inherent desireswhich take the shape of attitude. Be it a quick move up the career ladder, a blissful weekend at a favourite resort or hotel, spending time on a favourite sport, choice of residence or the strain of keeping pace with the latest trends in executive wear and accessories- todays executive performs these activities with éclat and style. Demanding times have pronounced a fast change in lifestyles. In the corporate rat race, success comes to those who cope with situations successfully. During a chaotic and unsettled moment, a man with an extraordinary capability can change a stormy situation and maintain a stable equilibrium. His capability and action reflects his lifestyle and mindset. Corporate culture emphasizes on action which brings in a faster pace of life. This in turn changes the pattern of business, personal entertainment the wardrobe and yes, even gourmet desires. The focus on the executive essentially purports to induce change in a number of industries - hotel, tourism, textiles, footwear, housing and many more.
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Profit being one of the primary objectives of initiating a business venture, the choice of your business must be for a line which can generate profits. Talking in long term planning, second important consideration that you must weigh is whether there is a sufficient scope for growth in future in the same line, or for diversification.
There is literally no limitations or end to finding a lucrative business for oneself. What is required is a desire to look for opportunities and find newer and newer ways and places to market goods and services.
An excellent example of this type of exploration is what Mr. Raja Reddy did with Maah ki dal, Samosa and other North Indian delicacies. He has marked maah ki dal, fish Amritsari, murg mussalam, raan Sikandari, baingan bhartha and samosas to San Francisco, Houston, Boston, Bonn, London, Birmingham and Dubai. As reported by Avinash Singh, the world does not stop there for Reddy, the NRI who spent a good number of years in Italy and Germany. He is all set to despatch ready-to-eat microwavable Chinese, Thai and Japanese cuisines too to Western markets.
Mr Reddy heads a Rs. 65-crore most modern and Indias largest food freezing enterprise-Ready Foods Ltd. The hundred per cent export oriented unit that went into production some time back had a capacity to pack 24,000 tonnes of frozen fruit and vegetables and 6,000 tonnes of heat-and -eat delicacies with samosas heading the list. He was a proud man when a trial insulated container with freezer facility left the factory premises for Madras port carrying 250 tonnes of frozen packets in what was going to be the biggest shipment of processed food ever to be despatched from India. Growing broccoli, cauliflower, aubergine and strawberries could be understood because Madanapalle, 100 kms from Bangalore, is almost at the same elevation as the Karnataka capital. But what about the North Indian and Chinese delicacies reaching the western markets
Mr Reddy requisitioned the services of a five-star chef Mohd. Ishtiaque Qureshi. The former ITDC man recently quit the Welcome Group to cook tandoori pomphred, kandari prawn, barrah kabab, chicken Hong Kong, poocha, gaen kiew gai, tempura vegetables and arbi ghost for Reddy, Knowing fully well that his preparations would be tasted weeks and months after they are prepared. But he is ready to take up the challenge. Revealed Qureshi, after the food is cooked it is put in huge chambers where the temperatures ranges between minus 22 to minus 45 degree Celsius. No preservative is used for the food which is tinned before being shipping in refrigerated containers to its various destinations. The food could last for five years without getting spoiled in tinned containers.
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The most crucial factor on which success of a new entrepreneur depends is the product or services which he or she chooses to manufacture to market. In selecting the product or service one must be guided first by the quantum of the existing demand as also likely demand in future. The product or service must be able to satisfy the need of the customer and give value for their money. While chances of success of an entirely new product are surely bright the onus for creating its demand will rest on your shoulders, and you may have to resort to massive advertisement campaign to create consumer awareness and demand. If resources are scarce, you may choose a product or service in which there are immediate cash returns so that you are sure about running the show without depending much on huge borrowings.
In addition to the above, other factors about establishing a manufacturing unit are: availability of technical know-how, machinery, labour, power, transport, etc.
Different factors like rent, security, transport facilities, availability of raw materials, nearness to markets, regulatory requirements, distance from your residence, anti-pollution requirements, disposal of effluents, etc. should be taken into account when you hunt for the right type of location for your business premises.
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Field of business is as unlimited as human needs, ambitions and desires. It may include things termed as basic necessities like food, shelter and cloth or things or services required for entertainment, recreation, hobbies etc. There is a lot of scope for business in introducing products which can be sold at affordable prices. You have to feel the pulse of the consumers and introduce items that suit both their requirements and their pockets. Business opportunities are innumerable, only you have to look for, identify and initiate the kind of business that suits you.
Human life is marked by the typical characteristic of search for perfection, betterment, ease, comfort and style in living as far as possible. Therefore, day in and day out we find new items being introduced and improved versions of the existing things coming in the market. You have to be a little creative. In manufacturing or marketing goods you have to have a touch of modernity, meet or even be ahead of the latest trends.
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Perhaps the most crucial question most of the would-be entrepreneurs are likely to encounter is what to do? that is which product should be manufactured or traded or what kind of services could be taken up. Choice of line of business should be largely governed by your interest, aptitude, resources available, even your limitations, besides other considerations of existing supply and demand, competition and profit margin, etc.
In selecting an item for business, whether as a manufacturer or a trader, you must consider. first the need or demand for the product It is naturally easier to market a product which is in good demand. Introducing a new item could no doubt be profitable but the responsibility of making it known to the people and creating demand for it would fall on your shoulders and involve spending money on it. If you have such a provision, you can go in for the introduction of a new concept, product or idea.
Initially, because of scarcity of resources, there may be a number of obstacles, difficulties, problems etc. and you could be forced to take a diversion, to take up altogether different direction and different route which could be far away from your destination. However, that doesnt mean that reaching your goal is impossible. You may have to accept these diversions only as a temporary phase which could be over slowly. With the passage of time you can turn the direction of your activities towards your goal.
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