Kapil Tandon

Don’t react… Respond!

In my last post about the mathematical formula to life, I had mentioned the necessary variables that ensure a healthy and happy life. One of the variables was “R&R.” It was basically an abbreviation of “Do not React, give a structured Response.”

Today I would like to elaborate on what I mean by this simple thought with an illuminating story from my own life. This is a true incident but I’ve changed the names of the person and places for the sake of privacy.*

My regular readers already know that at one point in my life, I was a promoter of my own tea business in Lucknow, Uttar Pradesh.  This specific story dates to 2002. I, along with 3 members of my marketing team, was on a business trip to another Great City* in the state.

We had so many things to do on that day, but we wanted to start with the most important activity first – finding out an incumbent who can represent our company as our registered dealer for the Great City!

Of course, our business already had quite a few dealers in neighbouring towns around Great City, but the proper city was so far left unrepresented. So, our goal was to finalize a dealer for the city during this trip. We zeroed in on a well-known firm in the city to visit so that we could explore the possible options and hopefully, convince this firm to represent us as our agent. We were keen on cinching this deal for our business!

My team and I drove to this firm’s premises. Things seemed to be looking up as we were standing in front of their shop. After the usual exchange of pleasantries, I approached the head of the firm, Mr Yogesh. I told him the purpose of our visit as I sat across him on the table. I presented a sample of our product to him so that he could form his first impressions of our product.

Before I could elaborate any further, something happened that left all four of us in utter shock and disgust! My colleagues and I were not the only ones in the room with this dealer, but his subordinates were present too. They were equally taken aback by his behaviour.

This is what had happened. Mr Yogesh had just given a cursory glance to our brand’s tea-packet and thrown it away in full force. Our packet had fallen on the road right in front of his shop! Not only that, he also uttered these derogatory words – “Yeh sab yahan nahi bikta hai! (Such products will not get sold here!)”

My team sat there with me, stunned at this aggressive turn of events.

At this point of the story, I generally ask students to analyse this as a case study. What is shocking about the dealer’s behaviour? What was expected of him, and what did he do? What would they have done in this situation?

I gave him the benefit of doubt. As the biggest dealer in Great City, Yogesh thinks that our product will not have demand in his market. Maybe, in his marketing opinion and expertise on Great City markets, he is right. But one thing was certain: the way he greeted us, talked to us, and behaved in the meeting was absurd. The person had a bloated ego and self-aggrandizement tendencies. He probably had even forgotten the norms of normal behaviour!

I was in a difficult situation. My three colleagues working under me were present in the room, waiting and watching my actions. I always advised them, “You must demonstrate tact in handling delicate and sensitive situations.” Here I was, confronted with a complex situation, where even I felt that the matter had gone a bit too far. I had to think of a structured response and there was no time! However, I had to lead by example!

I knew that there was no point reacting or retaliating against this man in his office. It would only make matters worse. I wanted to avoid any ugly verbal exchange.

I remained calm. I continued to address the angry dealer politely.

I said, “Yogesh Sir, we have come from Lucknow to meet and talk about business with you. You are right Sir, that this product will not sell in your markets! I have no intention of challenging your expertise. But, since this problem has arisen, and if you allow Sir, I have three favours to ask of you.”

To this, again he hastened to react – “Bataiye! (please tell).”

HERE IS WHAT I TOLD HIM:

“FIRST, please send a person and ask him to bring back our product pack lying on the road outside your shop. We love our product, and this is causing us pain.”

“SECOND, if you feel that it is okay as per your custom and culture, serve us a glass of cold water for each one of us as courtesy. It is very hot in this city and we have taken a long journey to see you!”

“THIRD, I can understand that you have had a hard day and you are upset now. But I request you to keep these samples of our product with you. You can take your time to judge the product and let us know if you ever change your mind. We will come back again if it means we could do business together.”

My calm demeanour gave the chance to the dealer to react coolly again. He may not have wanted to budge from his position, but he had to oblige out of decency. So, one of his men picked up the sample from the road. We were offered water. The situation was still a bit awkward and tensed. I thanked him anyway, “Okay sir. Thank you for everything.”

I placed fresh samples on his table and got up to leave. As I turned my back, he called out to me, “Wait! Stay to have tea. Let us try your tea!”

I can’t tell you at what moment the dealer decided to change his tunes and correct his response. Nonetheless, this demonstrated to my colleagues as to how giving a structured response was better than being caught in the heat of the moment.

Over tea, the dealer and us had a long conversation on our business, our marketing strategies, our trade policies for dealers and our company’s plans for the future.

They say all is well that ends well. This adage came true in our case. Our structured response managed to secure an impressive first order from our new dealer, Mr Yogesh. We continued a fruitful business relationship of mutual benefit with him for a long time thereafter.

The moral of this story: When the going gets tough, the tough gets going! Always remember to respond to a situation by remaining cool. It may be a high-stakes business deal, or a low-stakes tiff with a friend. Never let your buttons be pushed!

Let me know what you think in the comments. How would you have reacted in this situation? How do you generally deal with conflict in your life?

Don’t react… Respond! Read More »

Striking a balance

Photo by Pixabay on Pexels.com

Last week, I gave a mathematical equation that elaborated on a holistic approach to live life meaningfully and in a fulfilling way. In that post, I deliberately avoided talking about “success”. 

Today I want to talk about success – what should be the meaning of success to us and to what extent we should sacrifice our other interests and priorities that make us happy in life.

We have discussed the recipe for success previously in this blog. You can review the various ingredients for success in the table on the right.

Let me be clear: I am not trying to define success for you.

I wish to draw your attention to certain aspects of your life which will change the meaning of success for you. It will magnify the way you enjoy your success.   

Success Ingredients

  • Dedication, Hard work, Sincerity
  • Homework and Preparation
  • Learning from your mistakes/failures
  • Learning from others’ experiences
  • Finding your passion
  • Sticking to your commitments
  • Empathizing and helping others
  • Having a good education
  • Developing life-long learning orientation
  • Managing your finances effectively
  • Effective Time Management
  • Managing Knowledge, Technology
  • Managing Relationships, Networking
  • Surrounding yourself with people having positive attitudes
  • Reading, Writing, Speaking and Listening 
  • Leaving your comfort zone to chase success.
  • Remember Success comes before work only in the dictionary!

Let me reproduce here a quote from Phil Knight, the CEO of Nike Inc.:

“There is an immutable conflict at work in life and business, a constant battle between peace and chaos. Neither can be mastered, but both can be influenced. How you go about that is the key to success.”

Phil Knight

Balancing your life, health, happiness, and success makes life sweeter.

Let us pause to think about what Knight has said. If a person believes that their job will lead them to success, then they may spend countless hours per day, and be engrossed with work well into the evening. However, this comes at the cost of their rest, their health and truly living an enjoyable life. Ultimately, they may burn out and cease to be successful at their job anyway. 

In contrast, if they believe that success is derived from a strong social life with a good group of friends, they may overlook their duties and their work may suffer. They may lose their job, and eventually, they may be unable to afford going out with friends. In these ways, success, as Knight points out, is helped by balance. Think of it as a balance between work and play.  

The balancing act

Passion

Love what you do till you discover what you love doing. Having discovered that – do only what you love – stick on and never detach. When you work on what you love – work is like joy and fun. Always strive for the best in whatever you do or plan to do.

Creative Ideas

Do not be afraid of introducing new ideas. If you have a new idea – cage it. Do not throw it away because it is new and different; instead, celebrate it. Your strange new idea might one day be the one that leads you to success.

Action

Be a Person of Action. Train yourself in performing and acting – rather than analysing and thinking (what we call analysis paralysis). In this world, there is no perfect time to start a business or a project – you must act and solve problems. Remember that action defeats all apprehensions and fears. 

Relationships

Build Relationships – Get along with People. It is always a good idea to cultivate good relationships. You can never tell who will prove to become someone who will be able to help you in a big way or even be a good and supportive friend. As such, help people and they may help you; and be good to people, and they may be good for you.

Work & Wealth

Your salary and job title are important as they provide you with wealth and monetary satisfaction. Remember to not let it over-power you. 

Health

Your physical and mental health both are very important for your success. A sick body or mind cannot achieve any success.

Emotional well-being

Find adequate free time for yourself and your family so that you can spend quality time with your family and friends.

Spirituality

Devote time for spiritual wellness to seek meaning and purpose in life. It can be achieved in a variety of ways including organized religion, prayer, meditation, yoga, as well as a careful assessment of your morals, values, and beliefs.


On a personal note, I also try to imbibe these habits in my life. Writing this blog is one of my passions, and I am chasing creative ideas every week and bringing them to life with a discipline. There is an emotional pay-off too, since readers and well-wishers send their love after reading my posts. I have a well-managed schedule between my lectures, my yoga classes, my time with my grand-children, and these creative endeavours. I feel blessed to have found this balance.

Do you already follow some of these habits? Let us know what aspects are you striving for to strike the necessary balance in your life in the comments below!

Striking a balance Read More »

The Math of Life

H&H = f (FM, SH, AS, E, BH, MCU, RS, PMA, R&R, RWSL, K)

The above equation is a mathematical expression. To me, this simple formula embodies the secret of health and happiness in your life. In this blog, I do not want to comment on the idea of “success” but I want to share my counsel on how to be healthy and happy. If you think about it, when you are healthy and happy, success follows organically!

The formula can be read as “H & H (Health and Happiness) is a function of FM, SH, AS, E, BH, MCU, RS, PMA, R&R, RWSL and K.” The meaning of all these symbols and acronyms have been explained hereunder.

H&H – Health and Happiness

Only a healthy and happy body can achieve success. Your health and wellbeing are most important – all else is secondary. Considering the importance of health and happiness in human life and any type of success – I am dedicating this post to all my young readers. This post comprises several prescriptions, suggestions, and tips to keep active, healthy, and happy.

FM – Eat food like your medicine so that you never take your medicines as your food.

Include as many fresh fruits and vegetables of different colours into your diet as possible. Go for proteins like poultry, fish, tofu, beans, and whole grains. Avoid overeating. Snack on fruits, vegetables, and nuts as and when you require – particularly mid-mornings and late afternoons.

Stay away or minimize processed foods that contain artificial sweeteners or colours, hidden sugars or excessive fats.

Never skip your breakfast. A healthy breakfast in the morning is a very good habit as it sets you up so that you have energy and fuel for optimal mental and physical performance. Eating breakfast helps to maintain stable blood sugar levels and healthy weight because you are less likely to overindulge later in the day.

SH – Stay Hydrated.

Start your day with about a litre of water on an empty stomach. After fasting all night, this will provide you with much-needed hydration. Keep a water bottle with you all day, this will remind you to drink water. Monitor your water intake and make sure that you consume about 10 glasses of water every day. Drink water while sitting and sip it slowly. Consider drinking warm water against cold water – it has its benefits.  

AS – Get adequate sleep.

Sleep is an important part of health and if you do not get enough of it, it can negatively impact your energy levels and motivation in several ways. Make sure you give adequate priority to your sleep and keep a consistent bedtime routine with your busy lifestyle to maintain good health and reach your goals. Seek suggestions from your family physician in case you require help.

E – Exercise, Walk, and Yoga. 

You must give 45 minutes to 60 minutes daily to your body – doing yoga, exercise, morning walk, gym, or any other form of activity or workouts which fits well into your scheme of things. Regular morning walk, exercise, and yoga can help you boost your energy levels, improve your sleep and overall well-being. Also, try to include meditation and pranayama in your exercise regimen. You can resort to biking, swimming, or any other sustainable habit you enjoy. As far as possible avoid the use of lift or escalators – instead, opt for climbing through stairs. Prefer walking to standing, standing to sitting, and sitting to lying down. These are good tips for cutting down on calories.

BH – Get rid of your bad habits. 

Stay away from smoking, drugs, and other unhealthy addictions. Some habits are not so bad but can easily become a problem if taken too far. These include alcohol, sugar, caffeine, and junk food. These things in moderation or on a “once-in-a-while” basis are OK but then remember – an excess of everything is bad. 

MCU – Get regular medical check-ups. 

Do visit your family doctor for the annual check-up to make sure everything is normal. It is always advisable to have health insurance cover. Get health check-ups regularly even if you are healthy so that if something is abnormal, you know about it and can act, in consultation with your doctor.

RS – Reduce Your Stress.

Stress can be a cause for several problems – from heart trouble to digestive problems. Exercise, meditation, doing what you love, appropriate boundaries, spirituality, being in nature, and enjoyable hobbies all help alleviate the harmful effects of stress on the body. Do not overwork. Take breaks (vacations, mini-vacations, days off) and surround yourself with people who support you. Unexpressed feelings can lead to depression, sleep problems, eating disorders, and even physical pain. Learn to talk about your feelings, or express them through some sort of art. Stroll through gardens or visit places of natural beauty, and listen to a variety of good music to experience a better quality of relaxation. Participate and be an audience/spectator of various sports, cultural programs, and live shows. Develop a taste for good art and paintings – enjoy both man-made and God-made colours!

PMA – Attitude towards family, friends, and all others.

Your happiness and well-being to a great extent will depend upon your attitudes towards everyone around you. You should stay positive and motivated all the times and should be spreading positivity through your positive mental attitude (PMA). Surround yourself with such friends and persons who have a constructive and positive impact on you.  

Cut those from your circle of influence, who possess a negative mental attitude (NMA) and/or not supportive in furthering your initiatives. Do not keep friends and associates who do not add value to your eco-system. Depending upon your situation – build your ecosystem and socialize to the extent possible.

R&R – Do not react; give your structured response. 

Do not react to various situations; instead, give your structured response. I can give an example. If you are apprehensive that it may rain today – do not curse the rain God (reaction), rather pack your umbrella before you go out (response).

RWSL – Reading, Writing, Speaking, and Listening.

All young boys and girls must Invest at least 40 to 60 minutes of their precious time every day (for 5 to 6 days a week) in reading, writing, speaking, and listening to something relevant yet interesting to them. It may be like listening to a favourite speech, talking to an individual or delivering a short talk to a group, reading some fiction or self-help book, or writing a blog – virtually anything of interest to them.  

K– Demonstrate pure acts of Kindness. 

Do not bargain with small vendors, donate generously whatever you can – money, energy, service, time, or even a genuine smile. Be kind to pets. Try to make this world a little better with your efforts! 

I hope that reading this post will inspire you to make some fruitful changes in your life. If you have been practicing some of the tips already, let me know in the comments!

The list is at best indicative and not exhaustive – if you find more ideas for staying healthy and happy – please do share them in the comment section for the benefit of all.  

The Math of Life Read More »

The Guru-Shishya Relationship

For a teacher, a student sharing his/her learning journey is a source of great joy and fulfilment. It is one of the treasures that I cherish the most. My ex-students have reached out to me with their kind words, and I want to use my blog to shine a light on some of the things they have said about me.

Here is Aniket Joshi, eloquently sharing our times together.

“I met Mr. Kapil Tandon in 2018. As a part of my MBA focused towards Operations Management, Kapil Sir taught me a subject named ‘Operations Strategy’.

It was truly an overwhelming experience to gain the understanding of the issues related to operations as a strategic element in any business organization. The examples stated by Kapil Sir during the course delivery were immensely relevant from current as well as a future perspective. The key takeaway from all his lectures narrowed down to ‘delivering value to a customer’.

Defining ‘Value’ which is a very subjective concept in itself was explained by Kapil Sir in a very subtle and an effective manner. At the end of the course, I realised the importance of interlinkages between various business units in an organization and their operationally effective functioning which can help an organization to become cost efficient, extract hidden profits to create a competitive advantage in any industry/domain.

He has been a friend, philosopher and guide for me as a student. I feel blessed to have gained knowledge from such an experienced professional with a very simple and subtle way of explaining complex concepts to students. I continue to reap benefits by the application of concrete concepts taught by him as a Freelance Continual Process Improvement Consultant.”


Siddharth is my student pursuing his post-graduation at Whistling Woods International. He always handles himself with grace and politeness. I was happy to hear what he had to say:

“Mr. Kapil Tandon or as I call him – Kapil Sir, is a fantastic professor and an extremely learned person. His personal experience in subjects of business and finance has made him a guru of those subjects in his professional life.

His approach towards teaching is awe-inspiring but what’s most important is his curiosity to learn even after being so knowledgeable. His opinion towards failure is one of the most interesting takes that I have heard in my life.

Kapil Sir says that one should celebrate their failures as they celebrate their successes because without failures there is no learning, and hence, there will be no success.

I love his articles and I read his blog regularly. It is insightful as well as motivating. Keep writing and inspiring us, Sir!”

The Guru-Shishya Relationship Read More »

The Rulebook for Family Business (Part 2)

In Part 2 of the Rulebook on Family Business, I continue to list the ways you can prevent things from going too wrong. If you have missed the Part 1, read it here.

Since the nature of a family business entails the various relationship dynamics, it is important to keep the following points in mind. 

11. AVOID MAKING PERSONAL ATTACKS

Avoid laying blame or making personal attacks on other family members. Never agree to anything you have reservations about without voicing your concerns and reasons; encourage other family members to do the same.

12. GO FOR MERIT BASED EMPLOYMENT ONLY

All family members should have significant work experience outside the business. Family members should only be employed on merit and in positions that they are qualified to occupy.

13. DO NOT CONFUSE REMUNERATION WITH RETURN ON EQUITY

Remuneration of family members should be no more favourable than that of equivalent non-family employees. Do not confuse remuneration with a return on share ownership.

14. INSTITUTE FAIR APPRAISAL PROCEDURES

Institute appropriate appraisal procedures for all employees, whether family or not. Use outsiders, possibly non-executives, for appraisal of senior family management.

15. DO NOT HESITATE TO OFFER SENIOR MANAGEMENT POSITIONS TO NON-FAMILY MEMBERS

Non-family members should not be excluded from senior positions because of fear of loss of control by the family. If non-family members are more suitable for the job, use them. Do not ignore outsiders – professional management may produce higher returns for the family in the long-term than an ill-qualified family member.

16. A JOB IN THE FAMILY IS NOT A BIRTHRIGHT

If there is no suitable employment for family members, employing them is fraught with risks. A job in the family business should be regarded as an opportunity, not a birth right. Family members should be prepared to work harder than others to prove themselves.

17. DO NOT PRESSURISE FAMILY MEMBERS TO JOIN FAMILY BUSINESS

Do not pressurise family members to join the business – this can cause problems in the long run.

18. FINDING MENTORS FOR FAMILY MEMBERS

Find a mentor for family members both inside and outside of the business.

19. REAL AUTHORITY COMES FROM RESPECT

Remember, real authority comes from the respect you have earned, not from the shares you have inherited.

20. BE OUTWARD LOOKING

Be outward-looking. Consider using the services of a non-executive director (not a family member) to provide a more objective view in the planning and decision-making process.

On a final note, I wanted to add— the challenge for business families is that family, ownership, and business roles involve different and sometimes conflicting values, goals, and actions. It becomes necessary to draw clear boundaries. However, everything said and done, one should also remember to place a high priority on emotional capital— the family success that unites them through consecutive generations!

Let me know what you think in the comments below.

The Rulebook for Family Business (Part 2) Read More »

The Rulebook for Family Business (Part 1)

Running a family business is just like running any other small, medium, or large business. However, certain issues are specific to operating a family-owned business. I have compiled the best practices you will find in a well-run family business.

1. CLEAR COMMUNICATION IS HALF THE BATTLE

Create an atmosphere for open discussion among family members. Go for consensus rather than edict. Do not ask others to relay messages for you: speak directly to one another.

2. REMUNERATION SIGNALS FAIRNESS

Remuneration of family members should be no more favourable than that of equivalent non-family employees. Use outsiders, possibly non-executives, for appraisal of senior family management. If non-family members are more suitable for the job, use them.

3. RIDE THE CHANGE WITH GRACE 

Accept that change is inevitable. Do not accept ‘it has been done that way since Grandad’s day’ as an excuse for not making change. When commercial reality requires change, change! 

Individuals’ objectives change over time – respect these changes and ensure they are articulated. 

4. SUCCESSION IS ABOUT HOW YOU DO IT, NOT WHAT YOU DO.

Succession planning needs to be started sooner rather than later. Ten years before retirement is not too early. Consider all the succession options with an open mind – avoid sentimentality. Discuss them with others. Commit your succession plan to paper.

5. DOCUMENT THE VISION 

Develop a vision for your family business which should consider aspirations of important family and non-family members. Create an environment for open discussion among family members to identify and document the family’s objectives and core philosophies. 

6. STRATEGIC PLANNING IS NOT OPTIONAL

You must resort to long-term strategic planning – duly document all your plans and strategies. Make sure the family understands the business is a commercial venture that needs to be run professionally. Focus on objectives rather than personalities.

7. INVITE OPINIONS

Help family members avoid tunnel vision – let them generously embrace opinions and suggestions from people outside the business as well. Business associates, dealers, and other stakeholders will be of great help.   

8. ENSURE EVERYONE KNOWS THEIR ROLES & RESPONSIBILITIES

Role and responsibilities of all family members must be clearly defined. Have clear-cut policies for all kinds of monetary compensation (like salaries, dividends, and others) payable to non-participating family members. 

9. BE CAREFUL OF HIRING (AND FIRING) OF FAMILY MEMBERS

Avoid hiring family members who are not adequately qualified or lack the necessary skills and abilities. Create suitable organizational mechanisms to fire them when it is clear they are not working out. 

10. LOOK OUT FOR THE TURNOVER OF NON-FAMILY MEMBERS

Watch for high turnover of non-family members. Find out reasons as to why such people are leaving the organization. Hold exit interviews and initiate suitable corrective actions based on the feedback obtained.

STAY TUNED!
I shall continue with another 10 rules on my next blogpost. I write every Saturday. Make sure to follow my blog!

The Rulebook for Family Business (Part 1) Read More »

Family Business as an Entrepreneurial Opportunity

I have written this article in response to several suggestions from my senior students who come from business families and have been either working in their family business or thinking of doing a venture in active collaboration with their families. I have cited some secondary sources to find relevant study material which should fulfil the learning appetite of my such readers. 

A family business is, like the name suggests, an actively owned and/or managed by more than one member of the same family. It may also mean that a group of people belonging to one or more families run one business enterprise. In this arrangement, the family exercises control over business in the form of ownership or in the form of management of the firm where family members are employed in key positions. Family business in India is largely caste-based. The succession of family business goes to the next generation. 

Multiple generations in a family hold the command to lead the company, set its vision, mission, goals, and objectives, and take all crucial decisions in a family business set-up. They are closely identified with the firm through leadership or ownership. Owner-manager entrepreneurial firms are not considered to be family businesses because they lack this multigenerational dimension which brings with it unique dynamics of relationships within the family businesses.

The term – Family Business (FB) – has always been familiar to me. I was brought up in a joint family which was involved in the textile business. My thinking was largely influenced by my father and other three uncles who could think and talk of nothing else but business. Consequently, I developed a liking for business. Business jargons like planning business, cost-benefit, growth, and profitability, sounded familiar and natural to me.

Although now I am better known for my work as a Professor, Consultant, Mentor, and Blogger, these have been my new names which I acquired after I turned 60. Before that, for about three and a half decades, I was working in a variety of roles in several organizations like a Chemical Engineer in Nylon Polymerization Unit in Kota, Rajasthan (India), a Project Engineer in a Design & Engineering Company at Jharkhand in India, as Deputy Manager in a renowned Central DFI (Develop Financial Institution) at Kolkata and Mumbai Regional Offices.  

I was also an HOD in a Multinational Corporation in Mumbai looking after new ventures and diversifications of a Chemicals Conglomerate and as General Manager (Special Projects) for a large telecom company in Mumbai. I also promoted an independent FMCG company of my own in active participation and collaboration with my family in Lucknow (India). I was the designate Managing Director of this company, managing its affairs daily for almost 14 years in a row.     

So, you can see, how my active life of over 3 decades from the age of 24 to 60, I was engaged in business the whole time, either for myself or for someone else who had employed me to take care of production, marketing, project planning, or some other business function. During this period, I had opportunities to put on many hats as an entrepreneur, intrapreneur, profit centre head, HOD, and as a Business Planner. I also handled many exciting roles as a front-line functionary. These experiences provided me with umpteen number of opportunities to learn about business through real-life situations involving both family and non-family businesses. 

Some common problems that can occur in family-owned business include:

There can be arguments among family members and others over daily operations. There are differences in opinion about dividing and spending the profit. Many people feel that they are underpaid, but what do you do when relatives are unhappy with their share of the profits? Different opinions do not always produce disagreements. However, the emotional relationships between family members can make it hard to make objective decisions. 

If any special allowances are made, it leads to ineffectiveness and a growing perception of unfairness. The roles and responsibilities for all employees, including family members, should be clearly expressed. The authority to suspend or discharge any staff member that violates company rules should also be clear.

A weak succession plan can also lead to serious conflict. So, there should be a strong succession plan that can guide your business through a change in management. The question of who will take over the business, if something happens to the family member who owns or manages it, must be addressed at the earliest.  

One of the most common issues in a family business is the pressure to hire a relative. The emotional aspect of family relationships can make it difficult to refuse the request. Try to make the decision based on what is best for the business and not on emotional connections. If you do hire a family member, it should not affect the relationship that you have with other members of your staff. 

Holding relatives to the same standard as non-family employees can prove challenging. Some family-owned companies have trouble with high turnover among their non-family employees. An exit interview gives departing employees the chance to explain why they are leaving, which can help you understand why turnover is happening. Once you know what factors are affecting turnover, you can take steps to address them.

Photo by fauxels on Pexels.com

Some common practical tips for family business are:

  • When presenting new ideas for business improvement, particularly where spending is involved, base your information on facts to provide an objective perspective of what is best for the company. Family members can then make an informed decision based on concrete information.

  • You can also hire a business advisor. Relatives will sometimes accept the credibility of advisors – such as bankers, accountants, or lawyers. Paid consultants can also help confirm the value of expenditures for the business and can devote additional time and effort to specialized projects that could require further research.

  • Benefits like deferred profit-sharing plans, pension plans, and insurance programs can also be used to divide the profit. Providing benefits can satisfy family members and help them build their personal assets.

Stay tuned for another post on this topic next week where I shall list the rules for coping up with a family-run business.

References:

Meaning of Family Business: Types and Characteristics (yourarticlelibrary.com)

Managing a family-owned business (infoentrepreneurs.org)

Family Business as an Entrepreneurial Opportunity Read More »

A fervent appeal

Dear Students,

I am so happy to use my blog as a platform to keep in touch with you. I may not be teaching you in a traditional classroom setting, but through my writing, I can reach out to you and continue to convey my thoughts and impart some teaching.

Your responses have also been great! You have been replying to me personally on chat, boosting my posts on social media and even calling me to tell me that you liked my initiative with the website. However, I am writing this letter as a fervent appeal to you:

I see your appreciation, but I want your active participation!

I write very short blogs keeping in mind that our attention spans have reduced a lot. So, to keep you engaged, I am writing stories about my life and motivational posts to lift your spirits! It would take you not more than five minutes to read and comment on this blog. It will not only give the website traffic but also create a community of students and readers.

Make it a regular Sunday practice! Respond to the ideas in the posts, and reflect aloud in the comment section! I want the blog to be of value for you too!

Stay Motivated!

Best wishes,

Kapil Tandon

A fervent appeal Read More »

See what readers have to say!

With great joy, I am posting these personal messages that I have received in response to the blog through email, WhatsApp messages or telephone calls. They are some of the people who I admire, and their words of encouragement mean a lot to me!

These are just a few excerpts of the messages they have sent!

“Congratulations Sir…
Ever onward!”

Prof Hemant Purandare
Dy Director Academics
IBS- Mumbai
Laxmi Todiwan
Professor and Corporate Trainer
Founder- Indian Women in Hospitality.

“Congratulations on taking the first step towards a great new beginning! The blog looks excellent and speaks volumes about the efforts that you have put in to nurture this long-awaited avenue/dream of yours! So happy for you Sir!”

“Very nice, Sir! Thanks for sharing! I loved the pictures… Saw the other side of your personality!”

Neha Sajnani
Professor
IBS- Mumbai

Chaitanya Chinchlikar
Vice President & Business Head,
Whistling Woods International

“It’s remarkable how you continue to reinvent yourself and inspire both students and all of us. :)”

Meghna Ghai Puri
President
Whistling Woods International 

“This is not just wonderful but highly inspiring. I read a little right away and I can see myself looking forward to your words of wisdom each week.” 

Chinmay Nakhwa
Ex-student and now a colleague.

“‘Young at heart’ is what would describe Kapil Sir in shortest way. His life experiences which he blends in his teachings are immensely inspiring. Now with his blog his beautiful and encouraging life experiences can be heard by many. He continues his streak of inspiration with his words of wisdom. Being his ex student, i came across quite a few of his experiences that he never shared in my class. This way I am happy to be his student forever. If becoming an entrepreneur is your goal in life then Kapil Sir is the person you need to go to learn some important lessons before you start your journey. Good Luck with the blog Kapil Sir.”

Laili Dutta
Head of Deparatment, School of Media and Communication (SMC)
Whistling Woods International

“Congratulations to Kapil Sir! Lovely blog, Sir!”

Meenakshi CV
Faculty- SMC
Whistling Woods International

“Kapil sir, the blog looks fantastic! So much good work!”

Oindrila Purohit
Faculty- SMC
Whistling Woods International

“Sir read your blog. Excellent way to spread your ever positive feelings. I actually made my daughter read your article on How to connect with the world around.”


Kirti Jaiswal
Producer
Keemaya Productions

“I must say it’s a very professional blog and the articles are absolutely wonderful. I am yet to read all the articles however you’ve penned down your experiences for us to know that’s the beauty. You are a superman who is always adapting to new things in your life!”

“I have been reading the articles on your blog after Nidhi shared them with us last week and I especially loved the article ‘A Letter to all my Students’

Really excited for you to have started this journey! I am certain this will prove to be a great medium for you to reach out and bring value to even more people than you already do!

Will be posting comments on your article publicly as well but just wanted to say this to you personally first!”

Radhit Arora
Student
Whistling Woods International
K M Dheer
Classmate and Colleague

“It was very nice to hear from you after a very long time. There are very few of our friends and classmates who are really active at this juncture of life. It is good to know that you are starting your own blog. I will learn from your experience.”

Shobha Mathur
Family Friend

“I read your blog. It’s very nice and informative. Congratulations!”

Pooja Mehrotra
Entrepreneur, Pooja Classes

“Awesome fufaji… Great start!”

Vaishali Upadhyay
Student- Indira Institute of Business Management

“Thank you for your motivation.
This is very much helpful for young adults.
Your blogs encourage us to grow and develop our talent and knowledge.”


Mehak Sareen
Senior Executive- Outreach and Affliations
Whistling Woods International

“This looks wonderful sir. Congratulations and all the best!”

Joyee Mukherjee
Publicist and PG Student

“Thank you for your generous email! I read your blogs, sir. They are very informative!”

“So happy to see your new venture. Extremely well designed page. Love love love! Wish you the very best in this endeavour. I’ll share it with my friends and family as well :)” 

Radhika Gupta
Yoga Guru and Counsellor
Mats Joseph Fernandes
Director & Partner (Operations)
Kaizenxs Consulting Pvt Ltd

“Kapil Sir has been an amazing mentor to me right from the time I took up my MBA course till today! His teaching style and zeal is what lures students to learn more and he even makes the most difficult concepts seem like a piece of cake. He has the uncanny ability to successfully engage students with several real world examples and link them with the theoretical concepts that he teaches. I clearly recollect his Project Management and Operations Strategy lectures today whilst making Organization level decisions for several macro projects. I am deeply grateful to Kapil sir and credit a lot of my career achievements to his enigmatic training skills”

Pratik Patwari
Student

“I have been following your blog regularly and it has given me great insights and has inspired me. Your journey and your ideas have always motivated me to work hard and I look forward to read more amazing articles.”

Pradnya Sawant
Student

“I was looking forward to read your blogs since the time you announced about it and it was worth the wait..
Your blogs are really quick but informative read. They are very interesting as you share your real life experiences through them.
The vocabulary and the writing flow make it very fun and easy to read your blogs
Thank you so much for sharing all these wonderful career and life advice with us!! It is so appreciated!!!”

Alvina Malpan
Student

“Kapil Sir is more than just a professor. He is a great mentor and a friend. I have been very privileged and blessed to attend his lectures. Students look forward for his sessions because he has such a unique teaching style. He teaches us by sharing practical anecdotes from his own life. These examples help a lot in our personal and professional journey. I must say that Sir always has a solution to every problem, and he is ever-ready to help.” 

“Congratulations on your blog.
You have always been our strength and you don’t fail to surprise us each day✨
Take care. Keep doing what you do.”

Yukta Shinde
Student
Abhishek Pawar
Manager- ICICI Bank

“I have been reading your blogs for over a month now. Your every single blogs are so full of great insights. I am sure we will get to read your vast 72 years of experience through your interesting blogs in coming days.”

Jyothi Nair
Yoga Teacher

“I enjoy reading your blog regularly because they offer me very practical advice!”

Asar Shaikh
Hospitality Student

“Sir, I have read your blog and it’s very helpful and informative. It has made me understand management
concepts easily.”

Khushi Kapoor
Grand-daughter

“Hello Nana! I just loved your blog and suggest everyone to invest their time in it. Its worth reading. Your efforts for us are really commendable!”

Munmun Bhatt
Senior Business Development Associate- Think & Learn Pvt. Ltd

“Kapil sir has been a phenomenal professor from my alma mater. However, I saw him as a content creator for the first time. There are certain quintessential features in the blogs that compel you to read them again. I would highly recommend to all the readers to have a look. It’s a different perspective all together!”

“My first interaction with Prof. Kapil Tandon was during my internship submission. I had a great impression of him in the Q&A round we had. We met again during my last semester where he was my faculty for Operations Strategy. He teaches to to make students aware about day to day scenario and then co-relating it with the books rather than teaching theories and then leave students to relate it with reality. I am very fond of his lectures and the way he explains the case studies which in itself shows the ability, vast domain knowledge and insight about industries across verticals. Thank you sir for all your support and lessons.”

Pranshu Pandey
Student
Samruddhi Lakudkar
Nagpur Representative, Bikerni Group

“I’m overwhelmed to see such amazing blogs. It’s truly incredible. I just love the way you write and motivate others.. Your efforts are endless! I wish you good luck for the future. Waiting for more blogs to come up ??”

Ruchin Mehrotra
Entrepreneur

“Something I really appreciate about you is your aptitude for problem-solving in a proactive way. Hats off, Sir! I always see a mentor in you!”

Ninad Sakhare
Media Professional

“The information on your blog about business and management is really helping me. It is giving me many new ideas and a lot of inspiration. I keep looking forward to your updates on the blog. Keep posting more and more!”

Ajay Kacker with Anita Kacker
Service Manager (Retired)
Birla Power Solutions Ltd., New Delhi

“It is a great pleasure to go through your blogs. My wife Anita and I go through your blogs regularly. They are so informative and relate to the real-life experiences around us. Your blogs are full of morals. It gives us courage in our daily life. Our best regards to you for all times.”

Shubhi Sharma
Student

“If wrinkles must be written upon our brows, let them not be written upon the heart. The spirit should never grow old.” I am reminded of Kapil sir when I read this quote by James A. Garfield. I am so privileged to have him as a mentor. He blends his immense knowledge and experience with real-life. How beautifully he can explain every topic that we connect with it automatically! Sir, you have always motivated me to be a leader, just like you. The first time I heard that you started your professional journey from Kota, the city I hail from, I felt so proud. You have taught me to strike a balance in this professional journey. You have a different thought process towards learning, i.e., lessons should reflect on our behaviour! Thank you for everything!

Twinkle Sanghvi
Assistant Manager- TATA Capital

There is not enough I can say about how lucky I am to have got a mentor and an advisor like Kapil Sir. His patience and understanding are unsurpassed. He has set the bar for rigour in learning and has positively influenced me to grow. It was an honour to study strategic management and business ethics under a gem like him. I still remember that day when I called him before my interview at TATA Capital; where his words were ” I know you are an excellent student and they’ll select you”. Unaware of what the future holds for me, one thing was sure that it motivated me to challenge my limits. Sir, you continue to embrace me more and more with your knowledge, creativity and this engaging blog of yours. They say some people brighten up the room with their presence even in distance –you are one of those living examples. You aren’t just helping me learn, you’re making me a better person every day. You have always gone above and beyond the expectations of a ‘great’ professor. Thank you for your guidance, wisdom and compassion as I continue this management journey.

We read your blog regularly on the weekends. Thoroughly enjoyed the way you created all the formulas of life in your latest post. It is so relatable to each one of us, regardless of age and profession. Your advice is practical and inspirational. Your posts help me think and grow socially. Keep writing and sharing your pearls of wisdom! We both wish you the very best, always! ?Thank you!

Amrita Prabhudesai (Chef)
with Saplesh Prabhudesai (Engineer)
Vandna Khandelwal
Family Friend

“Dear Kapil, I am a regular reader of your blog. I am happy to see you flourish as a writer too! I thought your post on “Striking a Balance” is an excellent post for new generation and the young people. ? The post “Math of Life” had an interesting presentation. and was very well articulated.”

Prof Kapil Kumar
HOD & Chef
Apeejay Institute of Hospitality, Mumbai

“Kapil has been my colleague for many years now. It is always a joy to talk to him. He is loved and cherished by students and faculty alike. I read his posts every weekend, and I am happy to know that his writing journey has taken off to such a great start! Wish him the best always!”

Manvi Chaturvedi
Associate – Investment Banking

It is said that the process of learning is irrespective of academics, and how truly have I witnessed this. I have learnt my best lessons in life from a professor I was never associated with academically.
I was fortunate to be guided under the umbrella of Prof. Kapil Tandon Sir during my internship in 2020.
My experience during the internship was not very favourable and I had to go through some bitter and illegal business hands. But somehow I gained strength to stand against it only because Kapil Sir showed confidence in me. He taught me a life lesson that if you are not wrong, do not fear anything. He taught me when you stand for yourself and for the right, things will fall in place. Since that day he did not abandon me and kept motivating me saying, every bitter experience is a learning opportunity.
Post then the global pandemic started affecting various jobs. But Kapil Sir never abandoned any of his student and continued to teach us how to grab the best out of the given situation. During my first job I missed an opportunity just because of the game of luck. I was disheartened and started doubting my capabilities. I contacted Kapil Sir, with the same enthusiasm he helped me immediately without any delay. The time when many of my academic professors denied to help me, Kapil Sir tried his best to bring things on board and kept me mentally calm.
I have been fortunate enough to be blessed with a guide who has given me the lessons which no university books teaches. He has helped me become a better professional and an art of staying focused and calm when things go south. This is just an appreciation blog, where I will like to thank Kapil Sir for being such an amazing guide, motivator and believing in me.

I met Kapil Sir during my job interview at a GTL group company. He was one of the interviewers. After that we were a team. We spent a lot of time on financial modelling and business planning for the company. Working with him was a very stimulating and enriching experience. He naturally became my mentor and I learnt a lot from him… not just about work. We discussed life, healthy living and he even gave me some amazing salad tips! I was lucky to have shared his tiffin everyday because his wife whom I lovingly call Indu Aunty cooks the most amazing and healthy food. The times spent with him have been some of my most memorable ones. At 70 plus, he has this infectious enthusiasm and energy which most youngsters lack!

Vatika Agrawal (ex-colleague, and now a family friend) In this photo, Vatika and Kapil sir are with their families.
Sakshi Chandgothia
Student

Thank you so much for this blog Sir. I read your “Don’t react. Respond” blog and I must say that I got the motivation and inspiration on how to tackle dealers/clients when thrown at such situations. I usually am a person who gets nervous when tested or reacted in such a way. But from now on, I will surely try to respond calmly in such situations. Thank YOU so much again for always being there for us. ? And guiding us in the path of life. We’re extremely blessed to have a friend in a professor. We love you. Thank You so much again. ???

Rashi Sabbarwal
Student

It was always splendid to hear Kapil sir narrate insightful stories from his personal experiences when I came for his classes. And now that I’m not in college anymore, I read all of his blogs. It’s great how he shares these strategies and tactics with relevant and interesting stories. Certainly an inspiration for the younger generation. They’re Informative articles that can help to turn around the negative aspects of our lives and spur us into taking positive actions .

Hansika Pathak
Student

Sir it was pleasure to be your student and also to be your GG (good girl). Thank you sir for pushing me forward to interact and also I’ve learned a lot from your lectures and from you. I was not an interactive student back in my school days but you pushed me forward to speak and give answers in class that made me confident. We really enjoyed your class and I think we would have enjoyed a lot more if the classes were offline because there we would have met you in person but I wish you come back as our mentor, teacher in next semester. Thank you for being so chilled out teacher that I have ever came across!

Keertana Lakshminarayan
Student

Your classes have been fun and very informative, and your blogs have been a cherry on the top. You have been like a grandfather-professor to us and I will always remember you and your lectures. Thank you so much sir for sharing your valuable time and your life long experiences with us. It really means a lot and will cherish this forever sir. Thank you once again. 

See what readers have to say! Read More »

Let Ambition be your fuel!

Ambition is the first step to success. The second step is action.

Ambition is when you have the desire and determination to achieve great things. Ambitious people channel their hard work and focus to find success in their work and personal lives. They have an inner drive that helps them stay motivated when working toward their goals.

Clearly, some amount of ambition is good for your motivation. Without any ambition, you would not start your own business, set, or achieve goals and get very far in life. But an excess of ambition can also be dangerous, putting you at risk of burnout, stubbornness and even a shorter life. So, strike a balance!

Six Habits of Ambitious People 

  • FOCUS & PROTECT:
    They set goals but do not share them.
  • BE BRAVE:
    They are willing to take risks.
  • LEARN:
    They expose themselves to new ways of thinking.
  • DO IT:
    They are focused on execution.
  • STAY ON PATH:
    They do not compete with other people.
  • MOTIVATE YOURSELF:
    They surround themselves with other ambitious people.

The Twinkle in your Eyes & Spirit

Ambition drives them to advance and accomplish their goals. Well-aimed and supported by values, ambition reflects a healthy self-esteem and higher power of perception and visualization of the future. Ambitious people have a gleam in their eyes as they approach their goals.

So now let me ask you, dear entrepreneurs:

What is your ambition? And, what are you doing about it?

Let Ambition be your fuel! Read More »