Minutes to Read: 3 min 44 seconds
Word lookouts: Business skills, savings, planning
Isn’t it interesting that Indian mothers practice important business skills without the knowledge that students pay lakh of rupees to learn it?
I am here to outline the business skills you can learn from an Indian mother.
Indians do have a lot of trust Issues with banks, thank you Punjab National bank, and Vijay Malaya for triggering this fear even further.
Safe to say money kept in grains of rice is safer than money kept in the bank.
Fascinatingly our mothers have never taken a business course in their lives and yet follow these important business skills.
Never take No for an Answer.
Have you noticed how your Mom won’t give up on a few rupees while haggling for vegetables?
Mothers are born to be strong negotiators and great closer.
A very simple rule of negotiation is to understand how much the person is willing to pay while offering him a price close to what he has in mind.
Do you know what a poker face is?
A poker face is an act of hiding your expression of profit or loss after acknowledging your situation.
Quite similar to an Indian Mother’s poker face while having a 100 rupees note in their purse and yet haggling for few rupees.
Negotiation is a highly sought after skills to reach a point of compromise through
Communication– The back and forth dialogue between the vegetable seller and an Indian mom.
Persuasion– When she points out his previous customers and how he reduced the price for them.
Planning– Starts at home while she gets ready to go to the market.
Utility over beauty
In the world of updates, Indian moms have stayed the same.
Maybe that is why we love the concept of “Coming home.”
Indian mothers are buying things with more functionality and less beauty.
We care about branded clothes while our mothers care about the cloth material suitable for hot Indian summers.
This utility over beauty concept has saved money, they aren’t concerned about what looks good but what works best.
Hence the most loved phrase was born“Cheap is Best”.
Utility over functionality is the art of choosing ‘Quality over quantity’. This business skill is to be the better judge of quality work that brings reputation or a quantity of work that brings in money.
Savings for when it is raining.
Indian mothers can squeeze toothpaste to death but also save money in jars of spice and rice.
This savings in a container of rice was the first capital of a very well known company in Indian called Infosys.
You might have witnessed how your mom’s small savings saved a bad financial month or year. Mom’s are always to the rescue even if they are unemployed.
Only through deprivation is the birth of NEW resources.
Savings isn’t just a business skill but a life skill. You have to save when you are an entrepreneur for the next business venture, save as an employee in case you are fired or save as a manager to buy shares in your current company.
Observe an Indian Mother and her relationship with the milkman, with the watchman or her favorite vegetable seller.
There is an personal acknowledgment that is important in any financial relationship whether it’s your bank manager or your manufacturer.
Good relationships means you pay less or get more premium benefits.
Goodwill is the heart of any business. A good vendor relationship is essential to run a profit-making company, a good employee boss relationship is important for an upcoming promotion.
Don’t be embarrassed to Re-use
Even before the trend of Eco-friendly products began Indian Mothers reused empty pickle jars as jars for spices and old clothes for doormats
What makes an Indian home complete?
A reused Pepsi bottle stored for drinking water, an old t-shirt used for cleaning, and a stack of old newspapers.
Every time your mom reuses something your dad saved some money, a tree saved a bark and you saved a rupee toward college.
A lot of companies have been facing bankruptcy due to bad inventory management.
Inventory management is commonly defined as the process of ordering, storing, using, and reusing raw materials in various industries.
Making the best use of what is available is one of the main tricks in the trade.
Why would you throw away something when it has a better use elsewhere? Reusing of Raw materials is very common in heavy metal industries. But who knew, Indian mothers cracked that way before the companies did?
Every Rupee matters
Loose coins are everywhere in an Indian household you open a drawer -you find loose coins, you wash clothes -you find loose coins, you open a spice bottle and you find loose coins.
I call this the secret stash of an Indian household.
It comes handy when the milkman doesn’t have a change or when the newspaper guy doesn’t have coins.
After a brief treasure hunt at home, you eventually find the perfect rupee to save the day.
Well it is our moms who store these loose coins in odd places -good enough to come handy in odd situations
Though we live in the 21st century the system of petty cash is ‘old school’.
Petty cash is nothing but funds allotted by the company for small expenditures.
For example- the coffee machine in my office doesn’t work, so when a client asks for a cup of coffee, the coffee purchased outside the office would be registered as petty cash by the company.
|Indian moms||Business skills|
|Never take a NO for an answer.||Strong negotiation skills|
|Utility over beauty||Quality over quantity|
|Savings for when its raining||Practice saving small|
|Don’t be embarrassed to Re-use||Inventory control|
|Good Relationships||Good will|
|Every rupee matters||Petty Cash|