SUNDAY LEARNINGS
8th Dec 2024
Sales and Leadership Wisdom from the Leaders,Vishal Kapoor
Mr. Vishal Kapoor, CEO – IDFC MF (now Bandhan MF), would have hired many sales leaders, so when asked what qualities he looks in them, he replied,
“relevant technical skills and/or experience in the role are important. However, deciding factors include an assessment of the passion the individual has for the customer; integrity; and positive energy that can spread across the team to find and implement solutions. Cultural fit with the organization’s work ethos is important. A team-based work culture is a critical advantage.”
#salesbooster https://www.amazon.in/dp/1772046221 www.nimeshmehta.net
1st Dec 2024
Sales and Leadership Wisdom from the Leaders,Vishal Kapoor
Mr. Vishal Kapoor, CEO – IDFC MF (now Bandhan MF), has been both the B2B and B2C sides of the business, so I asked him How are they different and how can a person succeed in each one?
He replied Typically with a wider client base, B2C tends to offer more variety in client needs and perspectives. The need to adapt is therefore greater. Insights from direct “end user” feedback are often much richer, helping one create new solutions.
The more focused B2B model typically needs a higher level of technical competence, since one is dealing with an “expert.” Also, relationships may often need to run more deeply to be successful.
#salesbooster https://www.amazon.in/dp/1772046221 www.nimeshmehta.net
24th Nov 2024
Sales and Leadership Wisdom from the Leaders,Vishal Kapoor
I am privileged to know Mr. Vishal Kapoor, CEO – Bandhan MF, for more than a decade. When I asked him to share with the readers the 3-5 traits of a salesperson to succeed in the BFSI segment, he replied that sales can be a highly rewarding career. Yet it can be highly demanding as well. It is therefore important that individuals starting their career are clear on why they are choosing to pursue this career. Some common attributes of successful salespeople I have met are the following:
A genuine interest in people: This interest translates into a “real” interest in the customer and her needs, and into helping offer a suitable solution.
Energy: Salespeople need high levels of energy to transmit their excitement of the benefits from their product or service to the client.
Integrity: The BFSI segment demands the highest levels of integrity in its salespeople. We are dealing with people’s hard-earned savings, and often the language used is not easy to understand. Successful careers are built on keeping a promise over a sustained period of time.
Preparation: Sales is hard work. Successful salespeople plan and prepare well for each such interaction. Additionally, one has to keep abreast of the field with knowledge of best practices.
#salesbooster https://www.amazon.in/dp/1772046221 www.nimeshmehta.net
17th Nov 2024
Sales and Leadership Wisdom from the Leaders,Vishal Kapoor
I asked Mr. Vishal Kapoor, CEO – IDFC MF (now Bandhan MF), how has Selling changed in financial services now versus 2 decades back?
He replied Selling has evolved rapidly, keeping pace with a rapidly changing world. One of the key structural shifts over the last two decades has been access to information. Democratized, inexpensive access to the latest information and research through technology has helped clients get rapidly sophisticated, especially in the financial services industry. Technology is also now being effectively used to create real-time feedback loops and track sales quality more accurately.
#salesbooster https://www.amazon.in/dp/1772046221 www.nimeshmehta.net
10th Nov 24
Sales and Leadership Wisdom from the Leaders,Jai Krishnan
Again, a pragmatic and beautiful answer from Mr. Jai Krishnan, CEO – Samsonite, when asked how leadership has changed in the last couple of decades?
He replied Leadership has become more consultative. A leader believes that his job is to get the best out of his team. And that best comes out only when you treat people as equal parts of the team irrespective of age, grade, and salary level. You have to be honest and say there are certain things you know and certain things I know. That’s why I am here to talk to you. That is the leadership style that I always used, and I think it works. A team has to complement each other.
Your job is to put these things together. So that means identifying what a person brings to the table and accepting that everybody cannot be good at everything. You set an example by openly saying, “I don’t know what you know, please tell me. Just, because I am senior in the company hierarchy doesn’t mean that I know better.” I find this style of leadership most effective.
#salesbooster https://www.amazon.in/dp/1772046221 www.nimeshmehta.net
3rd Nov 2024
Sales and Leadership Wisdom from the Leaders,Jai Krishnan
Mr. Jai Krishnan, CEO – Samsonite would have launched hundreds of products in his career. So, my question to him was how do you approach a situation when that product fails? His pragmatic answer should be read multiple times by every leader in any industry.
He replied, If you launch a product and it doesn’t click, any smart organization needs to just accept it and quickly get out of it. Sometimes you get passionate with a project and that leads to a product. And if the consumer rejects the product, you should not argue with the consumer. Sometimes you start believing in it – that he needs it, but he doesn’t know it, that he doesn’t understand. There is the Walkman example and people who say that consumers didn’t know about it at all and that Sony made it for them. But when a consumer rejects something, accept it and move on.
#salesbooster https://www.amazon.in/dp/1772046221 www.nimeshmehta.net
27th Oct 2024
Sales and Leadership Wisdom from the Leaders,Jai Krishnan
I asked Mr. Jai Krishnan, CEO – Samsonite, Is money the differentiating factor in successful partnership with distributors?
He immediately replied, No. I think it is fairness. For example, in the Middle East, our trade partner is one company we have dealt with for the last 37–38 years. We deal with one company in every country. The minute we do that, it is a kind of a marriage, and then after that you do not do anything which jeopardizes his interest. As long as you are fair, relationships don’t get spoilt.
#salesbooster https://www.amazon.in/dp/1772046221 www.nimeshmehta.net
20th October 24
Sales and Leadership Wisdom from the Leaders,Jai Krishnan
I was humbled to interview Mr. Jai Krishnan, CEO – Samsonite, who has sales experience across geographies and countries, so when asked how selling bags is different in the Middle East vs India?
He replied, Basic selling does not change, but customer needs around the world for the same product or service can be different. Their levels of service and expectations of quality may be different. For example, the customer in the Middle East uses 82cm-size bags. They pack more when they go on a holiday. The company was not making 80 cm size, but because the Middle East wanted it, we started making that 82cm size for most clients. So when you meet your customers and distributors, once you understand the customer needs of that country, then selling is the same across the world.
#salesbooster https://www.amazon.in/dp/1772046221 www.nimeshmehta.net
13th October 24
Sales and Leadership Wisdom from the Leaders,Sanjiv Mehta
I asked Mr. Sanjiv Mehta, CEO & MD of HUL Ltd, what are the 3-5 traits of a successful salesperson in the consumer industry? He replied Sales has moved from being pre-dominantly an art to an art & science. A good salesperson is customer centric, has a growth mind set, is analytical and comfortable with technology and builds and nurtures relationships
#salesbooster https://www.amazon.in/dp/1772046221 www.nimeshmehta.net
6th October 24
Sales and Leadership Wisdom from the Leaders,Sanjiv Mehta
Sales or Selling is not looked up as the most sought-after career or profession. Unfortunately, companies use fancy words other than sales in their professional title. So, I asked Mr. Sanjiv Mehta, CEO, and MD of HUL Ltd, the importance of Sales for a business leader or CEO, and this is what he replied
“I believe that every aspiring business leader should spend some time at least in sales. This is where the rubber hits the road. A good business leader is always a good salesman… if he is not selling goods and services he is selling strategies and ideas.”
#salesbooster https://www.amazon.in/dp/1772046221 www.nimeshmehta.net
29th Sept 2024
Sales and Leadership Wisdom from the Leaders,Sanjiv Mehta
I asked Mr. Sanjiv Mehta – CEO & MD of HUL Ltd, How has selling changed in consumer industry now vs when you started?
He replied Three decades back the world was much simpler. Everything was done manually though a good company did have strong manual selling systems. Those were the days when selling was more of an art. It is very different now with information and analytics playing a far more important role.
#salesbooster https://www.amazon.in/dp/1772046221 www.nimeshmehta.net
22nd Sept 2024
Sales and Leadership Wisdom from the Leaders,Sanjiv Mehta
Mr. Sanjiv Mehta has been leading companies across countries, so I wanted to understand how Leadership has changed today vs. when he started.
He eloquently replied Leadership is situational. The world we live in has changed and the expectations of the society from business especially big business has changed significantly and consequently the expectations from leaders has also undergone a shift. They have to understand the role the business plays in society and the fact that it goes beyond simply profits. The CEO has to be an agent of change and in a fast-evolving world they have to be at the forefront of re-inventing their company. However, there are some traits and qualities of a CEO which are timeless e.g. the CEO has to be ‘purpose driven’ and ‘values led’. The leader sets the tone for his organization. A good CEO will always have a long term perspective but they also understand that there is no long term without short term and he has to be adroit in balancing the two.
https://www.amazon.in/dp/1772046221 www.nimeshmehta.net
15th Sept 2024
Sales and Leadership Wisdom from the Leaders,Sanjiv Mehta
I was curious to know the qualities Mr. Sanjiv Mehta CEO & MD of HUL Ltd, looks while hiring sales leaders and his expectations from a good sales leader.
He replied eloquently; A good sales leader should be a ‘leader of business’ i.e. knows what to do and also a ‘leader of people’ i.e. knows how to do. He should be a person who is very conversant with marketing, data & analytics, technology, finance as well as with a good understanding of the entire value chain. It needs no gain saying that he needs strong domain skills in the areas of customer value proposition, channel dynamics and should be able to visualise and lead the trends shaping the industry. A sales leader generally heads large teams and therefore he should have the knack of motivating and inspiring large teams.
#salesbooster https://www.amazon.in/dp/1772046221 www.nimeshmehta.net
1st Sep 2024
Sales and Leadership Wisdom from the Leaders,Sanjiv Mehta
One of my profound learning is “Focus on becoming productive instead of being busy.” So I asked Mr. Sanjiv Mehta – MD & CEO of HUL Ltd, How can salesperson become productive?
He answered, Productivity enhancement happens on two counts. One is based on an individual i.e. how disciplined they are, how conversant they are with the products, brands and activities and how efficiently they manage the finite time they have at their disposal. But, productivity also depends a lot on the tools & systems that you equip a salesperson with e.g. aids to selling, appropriate information, analytics etc. to facilitate his efforts.
#salesbooster https://www.amazon.in/dp/1772046221 www.nimeshmehta.net
25th Aug 2024
Sales and Leadership Wisdom from the Leaders,Sanjiv Mehta
I asked Mr. Sanjiv Mehta – CEO & MD of HUL, what does it take to be successful in FMCG distribution selling?
He answered, Distribution especially in FMCG entails three distinct but inter-related systems i.e. Demand generation from customer, demand fulfilment of customers and demand creation from consumers at point of sales. A successful distribution system has built immense capabilities around all the three sub-systems.
#salesbooster https://www.amazon.in/dp/1772046221 www.nimeshmehta.net
18th Aug 24
Sales and Leadership Wisdom from the Leaders,Sanjiv Mehta
HUL will have one of the country’s largest FMCG distribution networks, so I asked Mr. Sanjiv Mehta – CEO & MD of HUL, How do you earn, build, and retain your distributors’ trust?
He replied If an organization adopts a long-term perspective and is fair to all stakeholders then it starts building trust with its partners in the eco-system. Distributors are very important partners of an FMCG company. To earn, build and retain trust the company has to ensure first and foremost that the distributors earn a fair return on their investments, the company also invests in building their capabilities and very importantly the company supports & lends a hand when the distributor goes thru a bad patch.
#salesbooster https://www.amazon.in/dp/1772046221 www.nimeshmehta.net
11th Aug 2024
Sales and Leadership Wisdom from the Leaders,Sanjiv Mehta
I had the privilege to interview Mr. Sanjiv Mehta, CEO & MD of Hindustan Unilever Ltd (HUL). I wanted to understand the role of salesperson in the technology dominant world, so I asked him Is selling a Science or an Art?
He replied, With advent of big data & analytics and increasing use of AI, selling will become more of a science than an art.However, in business as in life it is not about ‘either or’. A good salesperson will still have that human touch which will be reflected in the way they build and nurture relationships with their customers.
#salesbooster https://www.amazon.in/dp/1772046221 www.nimeshmehta.net
4th Aug 2024
Sales and Leadership Wisdom from the Leaders,Abhay Aima
I asked the late Mr. Aima – group head – HDFC Bank, What brings more success to Salespeople, Science or Art part of selling? He answered eloquently, “Both having the same skill sets or the science, the person who has the Art part of it will be more successful. It’s like in the stock market, everyone can crunch numbers. The best analyst is not definitely the best fund manager or the best trader.”
But he supplies the science of managing a fund manager and also how he sees the psychology in the market. Coming to a number or news is a scientific process – what is the correlation of that number to the price of the stock – because that is ultimately not a scientific process. If it were a scientific process, everyone would do it.
#salesbooster https://www.amazon.in/dp/1772046221 www.nimeshmehta.net
28th July 2024
Sales and Leadership Wisdom from the Leaders,Abhay Aima
Mr. Aima – group Head of HDFC Bank has seen many cycles of good & tough times so I asked him a question, Sometimes sales may not happen as planned. What’s your advice to the sales team in these situations?
There is a simple formula, which I call the “man,” or M-A-N. So if I am trying to sell someone something, “M” is for money, you should have the money to buy it. “A” is for, does he have the authority to buy it? And the third is, “N,” is there a need for the product? If these three things are met – the person has the money, the authority, and the need – the sale has to happen.
When you analyze, when the sale fails – and I am talking general sales – you have miscalculated or not understood. So when something fails you need to determine, where did I miss out? He didn’t have the money to buy, or he didn’t have the authority to do it, or he didn’t have the need for it. Instead of getting disheartened, the way to look at is, where did I not gauge correctly? Basically everything being equal, your brand may not be powerful enough, but those are things that are not your fault.
When you are actually doing a sales call, you are actually looking at money, authority and need very consciously.
#salesbooster https://www.amazon.in/dp/1772046221 www.nimeshmehta.net
21st July 2024
Sales and Leadership Wisdom from the Leaders,Abhay Aima
I had the opportunity to interview Mr. Abhay Aima – group head for HDFC Bank. He has produced many leaders in HDFC bank, so I asked him, what is the role of a successful leader in the corporate set-up? I was awestruck by his answer on the leaders in today’s corporate World. He said, “There is a flaw in the set-up of the corporate World, which is, as you move up in your hierarchy, you move away from your core competence.”
So, let’s say, in a sales organization the top salesperson becomes senior sales supervisor, becomes manager, senior manager, and so on. His core competence is sales, and it’s not necessary that he be a good manager, but you are moving him away from that. Then there could be a very good person in sales who actually has the qualities to be a good manager, but because he’s not got the numbers, he will never get there.
As you move a person away from his core competence, by default you are forcing him to do things which are not leader-like. So you will invariably have leaders who will be worried about whether this guy below me is going to take my position. How secure am I ? You become insecure, either toward the person below you or toward the top person, because you are moved away from your core competence.
#salesbooster https://www.amazon.in/dp/1772046221 www.nimeshmehta.net