SUNDAY LEARNINGS
9th March 2025
Sales and Leadership Wisdom from the Leaders,Mr. Arijit Basu, ex MD & CEO of SBI Life Insurance
I asked Mr. Arijit Basu, ex MD & CEO of SBI Life Insurance, How has selling evolved in banking and Financial Services over the last 2 decades ?
For me it is like a great evolution primarily on the banking side. So State Bank was and continues to be a giant, but in my first ten or fifteen years of service, all we needed to do was ensure that the customer was well looked after, after he came to the branch.
The products were also simple. It was primarily making a deposit or giving loans. But post-liberalization and with things becoming more complex in the banking sector and competition coming in, you needed to reach out to the customer.
Second, technology has played a role in the sense that earlier we would have to scratch our heads to find out who a good customer is, try to find out how we could reach out to him. Now, reaching out to a customer through technology is easy. We can do so many things: You can personalize offerings related to your core sales/products, or even the experience that a customer has with the financial services company can be totally transformative. For any service industry, the customer is at the core.
#salesbooster https://www.amazon.in/dp/1772046221 www.nimeshmehta.net
2nd March 2025
Sales and Leadership Wisdom from the Leaders,Mr. Sanjiv Navangul, MD & CEO – Bharat Serums Vaccines Ltd
I asked Mr. Sanjiv Navangul, MD & CEO – Bharat Serums Vaccines Ltd, How has leadership changed in the last couple of decades?
He replied This is a misnomer because I do not think leadership principles have changed dramatically. Leadership is about enabling your employees to learn and do well, and as you grow in the hierarchy of your company, your obligation is to help them build their own careers. That obligation has not changed. The only significant change in leadership that I see today is the need to anticipate trends. Our industry is changing at a rapid pace and leaders must work hard to ensure they and their teams can preempt and embrace the evolving landscape around them.
#salesbooster https://www.amazon.in/dp/1772046221 www.nimeshmehta.net
9th Feb 2025
Sales and Leadership Wisdom from the Leaders,Mr. Sanjiv Navangul, MD & CEO – Bharat Serums Vaccines Ltd
Mr. Sanjiv Navangul, MD & CEO – Bharat Serums Vaccines Ltd, is a veteran and expert in the Pharmaceutical industry. I had the good fortune to interview him in my book. Mr. Navangul wore the healthcare leadership hat across countries, so I asked him to share his thoughts on how pharmaceutical selling in India is different from other markets.
He replied that the major difference in terms of the way that pharmaceutical companies sell their medicines is the way in which medicines are paid for. In some countries, medicines are reimbursed or paid for by the government via public health and insurance bodies, and companies essentially sell their medicines to these institutions.
In other countries, often referred to as “self-pay” markets, the patient covers most of the cost of their medicine, and they are the core customer for the company. This is the case in India, where the World Health Organization estimates that 70% of all medical costs are covered by the patient themselves.
Another important point to note is that technology is changing the healthcare landscape in India, and home care is becoming more and more important. Today, doctors are communicating with their patients via digital platforms to consult, monitor and provide treatment to them remotely. So, the patient need not always travel and can still get good quality treatment and care.
#salesbooster https://www.amazon.in/dp/1772046221 www.nimeshmehta.net
26th Jan 25
Sales and Leadership Wisdom from the Leaders,Jaideep Hansraj
I asked Mr. Jaideep Hansraj, CEO – Kotak Bank wealth, How has selling evolved in the finance industry over the last two decades?
He replied Even though the platforms for sales have evolved over the years but the cardinal rule of selling remains the same – Never sell anything to anybody unless you know they would come back for more. In the world where competition and advice are as free flowing as a writer’s wit; it is important to assign a degree of tangibility to the age-old values like credibility and trust. Towards this, the integration of scientific processes and analytics into traditional decision making and reporting has lent better transparency to the clients and thereby strengthened the trust quotient between the managers and clients. This also means selling with a refined degree of customization, in sync with the risk appetite and fund requirements, have become a prerequisite in the present age.
#salesbooster https://www.amazon.in/dp/1772046221 www.nimeshmehta.net
19th Jan 25
Sales and Leadership Wisdom from the Leaders,Jaideep Hansraj
I asked Mr. Jaideep Hansraj, CEO – Kotak Bank wealth, How have you handled a situation when a sales strategy fails?
He said It is like any normal drawback which you have. You have planned a lot, you have executed well, but it didn’t happen, so ultimately it’s a phase. I don’t think it should demotivate anyone to a great extent, but it’s just something which you need to take the team along with you. So it’s not that every month is going to be great month. If it does not work, it means there is something wrong with the product or situation, not with the client or you. So instead of crying over spilled milk, its best to take the learnings in your stride and focus on converting the adversity into an opportunity. As an old proverb goes – you only fail when you don’t learn from the failure.
#salesbooster https://www.amazon.in/dp/1772046221 www.nimeshmehta.net
12th Jan 25
Sales and Leadership Wisdom from the Leaders,Jaideep Hansraj
I asked Mr. Jaideep Hansraj, CEO – Kotak Bank wealth, How do you earn the trust and respect of clients?
He replied Trust has to be earned through consistent behaviour and performance over a period of time. One has to be patient. In my understanding, I would say the easiest way of earning trust is repose it. Take time to understand your clients, their needs, their challenges and their strengths. Focus on what’s important for them and what drives them or motivates them. I keep telling my clients and colleagues that this is not going to happen overnight. You have to keep working at it and over a period of time is when you win over. There is no shortcut to this route.
#salesbooster https://www.amazon.in/dp/1772046221 www.nimeshmehta.net
5th Jan 25
Sales and Leadership Wisdom from the Leaders,Madhavan Menon
I asked Mr. Madhavan Menon, Chairman & MD of Thomas Cook the role and importance of tour manager in Sales.
He succinctly replied, I call these guys our Brand Ambassadors because they accompany groups right throughout a tour and are constantly multi-tasking to fulfill/cater to the requirements of individual customers and resolve problems/complaints they may face. So we made them a part because of their experience and knowledge.
Given the vast experience/knowledge, we have embedded them through the entire experience starting with product development, sharing information during the sales process. Their knowledge is extremely important.
#salesbooster https://www.amazon.in/dp/1772046221 www.nimeshmehta.net
29th Dec 2024
Sales and Leadership Wisdom from the Leaders,Madhavan Menon
I asked Mr. Madhavan Menon, Chairman & MD of Thomas Cook for this thoughts on selling process & customer experience in the travel industry. He replied, We are constantly trying to give our customers “omni-channel” access using Technology. My view is that a customer will decide how they will connect with you. A customer comes to you because they believe that you can fulfill the experiences they are looking for. This belief is based on brand reputation, ability to deliver quality and are user friendly.
As a part of this changeover, we are enabling our agents with Technology that will let customers decide what they want to see. The world now recognizes that a customer is looking for an experience. The customer is going to pick and choose the experience. You are not going to tell the customer what to do. So the mantra today has changed from customer service to customer experience. You don’t determine what the customer wants to experience, but you manage the customer’s experience.
#salesbooster https://www.amazon.in/dp/1772046221 www.nimeshmehta.net
22nd Dec 24
Sales and Leadership Wisdom from the Leaders,Madhavan Menon
Mr. Madhavan Menon, Chairman & MD of Thomas Cook, has more than 2 decades of experience in the Travel & tourism industry. I asked him, Is an Indian customer only looking at the price, or at value, or at value at the right price? He replied; first, the concept of value is heavily embedded in today’s younger generation. They are the future travelers, so I think it’s important. Travel is an aspiration for this generation.
When I buy a holiday, it’s intangible. I have visions in my mind of what I bought for a holiday, so the chances of my being disappointed are very high. Thomas Cook is a bundler of services owned and provided by third parties. You will appreciate that fulfilment is complex, tricky and requires a lot of experience. Thomas Cook through experience, training and well-honed processes is able to deliver a balanced product. I always internally preach to people that you can never get anything 100 percent right. However, what is important is how quickly you can retrieve a situation generated. So from a customer’s perspective, it is managing expectations. We are constantly trying to inject the management of expectations and simultaneously using technology to drive it. I am not saying we have perfected the art. But I believe we have invested a lot in perfecting delivery.
My personal belief is as much as price is an indicator, people also come to you by reputation. Brand loyalty is extremely important in this industry and is determined by word of mouth. But if you are able to manage expectations and retrieve situations, trust me, that loyalty exists. The loyalty to our two brands, SOTC and Thomas Cook, are high. A benchmark of brand loyalty is repeat customers and I can proudly say that to the Thomas Cook and SOTC have good repeat rates.
#salesbooster https://www.amazon.in/dp/1772046221 www.nimeshmehta.net
15 Dec 2024
Sales and Leadership Wisdom from the Leaders,Vishal Kapoor
I asked Mr. Vishal Kapoor, CEO – IDFC MF (now Bandhan MF), Is Selling a Science or an Art? He replied I think selling needs elements of both: The science as well as the art. Among other aspects, the science in selling, on the one hand, provides the ever-so-important process. This can help provide a minimum level of quality and consistency. It’s the framework on which the engagement can be effectively built. It’s a “must-have” for success.
The art, on the other hand, allows for the individual’s interpretation and implementation of the process. This allows the scope for expressing an individual’s style. Appreciation of the “softer aspects” often provides the edge, when combined with the rigour of a well-implemented sales process.
#salesbooster https://www.amazon.in/dp/1772046221 www.nimeshmehta.net
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