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Global Retail Academy

What’s the point of becoming a business legend but a failed human being...

Feb 07, 2017 

In her groundbreaking book, “The Top Five Regrets of the Dying: A Life Transformed by the Dearly Departing”, Bronnie Ware, who worked in palliative care chronicled her experience with patients who were at the end of their lives. When she questioned them about the regrets that they had, a common theme emerged.

The #1 regret was “I wish I’d had the courage to live a life true to myself, not the life others expected of me”. While there have been millions of


Global Retail Academy

Spend time in silence each day. You’ll never do Jay-Z level work if you’re overstimulated by technology

Feb 01, 2017 

I'm far from being god, but I work god damn hard. - Jay Z

“There is never enough time.” We have seen many people say this and we have said this many a times. We are normally distracted, irritated, and always in a rush to “get something done” while accomplishing almost nothing in the process.

Our typical day starts with switching on our smart phone (provided that we switched it off the previous night). We eat our morning breakfast absently while


Global Retail Academy

How Much Debt should a Retailer Take?

Jan 28, 2017 

There are many different ways that a retail business can fund their operations. One - they can utilize the funds of their owners - shareholders or owner equity. The other is that they can borrow money from lending institutions and utilize that debt to fund their business. How much should you borrow will depend on your business model. There are retailers who are very, very successful, who operate on very, very high levels of debt. There are others, like Apple, who have zero long-term debt. The


Global Retail Academy

Learn for an hour a day, no matter what

Jan 25, 2017 

Give me six hours to chop down a tree and I will spend the first four sharpening the axe - Abraham Lincoln

 

On a working day, a knowledge worker has a thousand things to do, a flood of emails, an avalanche of messages, and a barrage of phone calls to attend to. Add to that the maddening traffic jams. It is understandably difficult to find time for learning. But you must. Remember, learning is not a ‘should’, it is a ‘must’.


Global Retail Academy

Why go for good at what you do when you can stand for iconic?

Jan 20, 2017 

Good is the enemy of great…Few people attain great lives, in large part because it is just so easy to settle for a good life. - James C. Collins (Good to Great)

In the world so full of mediocrity, good is difficult to come by and greatness is so rare that it has acquired a mythical quality. There are barely 10% who qualify as good and less than 1% who qualify as great, and rarest of the rare become icons. This extreme Pareto rule applies to almost every profession.


Global Retail Academy

Beat the ‘overwhelm factor’

Jan 17, 2017 

Motivation gets you going and habit gets you there – Zig Ziglar

It’s an interesting fact that those that just get on with it rather than procrastinate and over think things are generally more motivated and successful. Why? Because progress generates momentum and momentum drives motivation and success, which in turn drives further progress, motivation and success in a perpetual loop.

But progress isn’t just about being busy for the sa


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To have the results only 5% of businesspeople have, have the guts to do what only 5% of businesspeople are willing to do

Jan 14, 2017 

Business happens to be full of failure stories. Successes are so rare that they are dubbed “unicorns”. A sad but true fact.

Consider these numbers:

It has been a long-held belief that 50 percent of new businesses fail in the first year and 95 percent fail within five years. According to Bloomberg 8 out of 10 entrepreneurs who start a business fail in 18 months. Inc.com goes on to claim that roughly 96% of all businesses would fail within 10 years. Various other stud


Global Retail Academy

World-class begins when you think you’ve done a great job, but know you can do a better job

Jan 11, 2017 

Few people attain great lives, in large part because it is just so easy to settle for a good life. -James C. Collins (Good to Great)

Few things in the world come in so many shapes and sizes as a mobile phone, and most of them are good. Now imagine for a second that you are given a choice to take any one phone in the world, which one would you go for. If you are like most people, you would go for the iPhone, right? This was a no-brainer.

Even in the industry that is fu


Global Retail Academy

The Strategic Profit Model

Jan 06, 2017 

The Strategic Resource Management model considers three primary resources: the inventory, the floor space, and the selling staff whereas the Strategic Profit Model brings out the returns that the business gets in terms of net profit, after tax and the asset turnover.

Asset Turnover is about how productive your assets are at generating sales. The Return on Assets is how much profit you’re generating from your assets. The Gearing or Leverage Ratio is the relationship between the d


Global Retail Academy

Remember that your greatest gift is so much stronger than your deepest fear

Jan 02, 2017 

What lies behind us and what lies ahead of us are tiny matters compared to what lies within us. - Ralph Waldo Emerson

According to an ancient theory, it is said that all of us have a purpose in life. Nature would not create anything that does not have a purpose, let alone a man, which is its highest creation. However, with the progress of civilization, man has hemmed himself and has locked his great potential behind the bars of fear.

Most people bury their dreams, the


Global Retail Academy

The person who tries to do everything achieves nothing. Focus. Focus. Focus.

Dec 16, 2016 05:30PM

My goal is to stay focused on my craft. - Michael K. Williams

 In an episode in “A Study in Scarlet”, the iconic Sherlock Holmes story, Dr. Watson is amazed at the discovery that the Earth revolves around the Sun and not the other way round. Watson tells this to Holmes with excitement and disbelief. Holmes says something that should be pasted on every workstation of knowledge workers today. He says "Now that I do know it I shall do my best to forg


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Spend the first 90 minutes of your work day on real work versus fake work

Dec 14, 2016 

It is not enough to be busy. So are the ants. The question is: What are we busy about? - Henry David Thoreau

Have you ever wondered why in the world full of so many gadgets, why does the modern worker get so little done? Let’s find the answer to that.

So how do you start your work day, of course by checking your email messages, and then it goes downhill from there. Email does not have any parameter to rank things in terms of quality, importance, or even urgency,


Global Retail Academy

What's your footfall?

Dec 08, 2016 

For any retailer, whether you’re web-based or bricks and mortar, knowing how many people are walking into your store or are browsing your website is significant. If you’ve got no idea of how many people are visiting you, you will really, really have to get behind the eight ball to know how you can improve your performance.

To be able to capture the footfall, you really don’t need to invest a lot of money. It doesn’t have to be done continually 24 hours a day, 7


Global Retail Academy

Everyone works in Human Resources. We are all paid to develop the talents of the people we work with

Dec 05, 2016 

A leader is best when people barely know he exists, when his work is done, his aim fulfilled, they will say: we did it ourselves. - Lao Tzu

“HR takes care of the people while the leaders take care of business.” This seems to be the mantra of the modern business, especially in the aftermath of the 2008 recession. HR is expected to develop people along with “people functions” like recruitment, training, etc. while the leader is out there leading the troo


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Mediocrity is a mindset. Avoid the mental viruses of negative people

Dec 02, 2016 

Nothing is as approved as mediocrity, the majority has established it and it fixes its fangs on whatever gets beyond it either way. - Blaise Pascal

Mediocrity is the epidemic of the modern workforce. There are people who take pride in doing “exactly how much they are being paid for”, and they scoff at anyone trying to do a good job. In fact, they try hard to bring them down.

How many times have we seen co-workers conspiring to bring down the star of the de


Global Retail Academy

Build an amazing career but enjoy your lifestyle...

Nov 26, 2016 09.00 AM

In her groundbreaking book, “The Top Five Regrets of the Dying: A Life Transformed by the Dearly Departing”, Bronnie Ware, who worked in palliative care chronicled her experience with patients who were at the end of their lives. When she questioned them about the regrets that they had, a common theme emerged.

The #1 regret was “I wish I’d had the courage to live a life true to myself, not the life others expected of me”. While there have been millions of


Global Retail Academy

Transform your fitness and you’ll transform your business.

Nov 20, 2016 05:30PM

Without health life is not life; it is only a state of langour and suffering - an image of death. - The Buddha

The business leaders until a few years ago were stereotyped as unhealthy workaholics. Typically obese, stressed out and cranky people whose 18-hour days were filled with caffeine and nicotine, and nights ended with alcohol. Exercise often meant a round of golf on a Sunday. While this might sound extreme, there is a base of truth behind this.

There were a few ex


Global Retail Academy

Pursue excellence versus chasing perfection.

Nov 13, 2016 04:58PM

Perfection is fear. Excellence is taking a risk. Perfection is anger and frustration. Excellence is powerful. - Unknown

Few things have ruined great talents and great efforts than the misguided pursuit of perfection, instead of a rewarding quest for excellence.

To the uninitiated, someone who is new to personal development, both excellence and perfection might sound similar and often replaceable by each other, but in fact they are very different. Excellence is a pursuit


Global Retail Academy

If you inspire one person each day, your day hasn’t been a waste. It’s been a blessing...

Nov 10, 2016 08.30 PM

No one is useless in this world who lightens the burdens of another. - Charles Dickens

Remember the starfish story?

An old man walks on a beach that it is littered with thousands of starfish, as a result of the previous night’s storm. It is apparent that the starfish would not be able to survive the rising sun for long and would die soon. Then he observes a young boy throwing one starfish at a time back to the sea. The old man cynically tells him that there were


Global Retail Academy

All things being equal...

Nov 06, 2016 09.37 PM

I am not afraid of an army of lions led by a sheep; I am afraid of an army of sheep led by a lion. - Alexander the Great

 

Leadership arguably is the most talked about, written about, and debated subject in business history. Right from the warlords and monarchs of the old world, to the Presidents and CEOs of the current age, leadership has been the Holy Grail of those who have wa


Global Retail Academy

Education is the beginning of transformation.

Nov 06, 2016 09.37 PM

Education, yes education is the biggest factor that would determine how far you would go in your life and career. And we are not talking about the formal college education that most people leave behind. The real transformation begins with the unending quest for self improvement through daily learning, and resources for the same are abundant, and wisdom of the greats is easily accessible.  

How much would you pay Dalai Lama to teach you about peace of mind? What are you willing to


Global Retail Academy

Calling the shots

Nov 05, 2016 09.00 AM

Being a retailer, as you chart the change strategy for your retail business, assessing and assimilating who is at the wheel of power in the present environment, is a must. Is it the consumer or the supplier or the government or you (the retailer)? This understanding will enable you to become the one calling the shots.

Making assumptions instead of precise identification could be the worst impediment to your effort of accurately framing the strategy. Albert Einstein judiciou


Global Retail Academy

Know Your Strengths...

Nov 04, 2016 08.30 PM

Knowing your strengths is an indispensable process in your journey of framing and developing a change strategy for your retail business. It is all about having an accurate understanding of what your company is good at and at the same time also being aware of what it is not good at. Both go hand in hand.

Knowing your strengths is to understand your competences. It is to do with identifying the elements of your competences – your skills, attributes, attitudes and knowle


Global Retail Academy

Celebrate small wins and you’ll unleash a huge amount of momentum and positive energy.

Nov 04, 2016 10.00am

Big shots are only little shots that keep shooting. - John Bytheway

It is a known phenomenon in the world of sports that when a star player starts to lose matches after matches, the smart coach/manage takes him or her off the spot light for a while. And after approximately a couple of months, he or she makes a comeback, often knocking off one of the most celebrated players currently (preferably the reigning champion). Right from Muhammad Ali to Michael Johnson, to


Global Retail Academy

Someone is going to win in your space. Why not you?

Nov 04, 2016 10.30 PM

Winning is a habit. Unfortunately, so is losing. - Vince Lombardi

Have you ever noticed that there are patterns of winning and losing? A particular sports team continuously wins and keeps on winning, while another one just keeps crashing out.

In his iconic book “Think and Grow Rich”, Napoleon Hill talks about some of the greatest secrets of success. The most important factor that he emphasized in his numerous interviews, was having a




Global Retail Academy

Your daily schedule reflects your deepest values

Oct 21, 2016 10:28 AM

If you ever happen to stay close or look closely at the daily habits of successful leaders, you will realize, it is pretty dull. Their days are driven by schedules and obligations which can look dull and boring to an onlooker. However, it is in these regular routines and steady disciplines lie their deepest values and the holy grail to success.


Now, what are values? Values are the things that you consider very important in the way you live and work. These values determine your p


Global Retail Academy

The best leaders blend courage with compassion

Oct 15, 2016 10:07 AM

The word “leader” is more abused than used. Some claim that the “leader” has to be a ruthless Machiavellian figure that would do anything for “success”, up to and including using and throwing his people. While, others say that he has to be a “people’s person” who would do anything for his people and keep them happy at all costs. Both are extreme versions and needless to say, incorrect.

Trying to define a perfect leader, people wou


Global Retail Academy

The antidote to stagnation is innovation

Oct 07, 2016 10:22 AM

Change is inevitable. Growth is optional - John C. Maxwell

Remember, Nokia - the company that a decade and a half ago used to be the market leader and the biggest phone manufacturer in the world? It was a matter of pride to own a Nokia, and people would boldly flaunt their Nokia phones. Then what went wrong? Why did Nokia have to sell its handset business to Microsoft a few years ago?

What happ


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There has never been a better time to be a social-entrepreneur

Sep 25, 2016 10:02 AM

Humanity’s greatest advances are not in its discoveries, but in how those discoveries are applied to reduce inequity - Bill Gates

How can the pursuit of making the world a better place get out of business? Never, really! With the gap of the rich and poor widening and discrimination against the weak still continuing, the world is looking for faith, belief and hope. While the mega philanthropists like Bill Gates have shown the way, the biggest ray of hope comes from the


Global Retail Academy

The quickest way to grow the sales of your business is to grow your people

Sep 14, 2016 09:55 AM

If you are not taking care of your customer, your competitor will -Bob Hooey

In the hyper competitive world of today, the consumer is the proverbial king and he is spoiled for choice. Right from salt to steel and from cell phones to cars, there is an overflow of goods, services, and vendors fighting for his money with comparable quality. Production is easy in this technologically advanced world with liberal regimes and global sourcing. So there is only one thing that would d


Global Retail Academy

Passion + production = Performance

Sep 07, 2016 10:15 AM

There is no greater thing you can do with your life and your work than follow your passions – in a way that serves the world and you. - Sir Richard Branson.

Screw it. Let’s just do it…! - Sir Richard Branson (same guy who said the above)

So why did we start from two quotes from the same person? Simple, he gets it and said it in two different quotes that complete each other.

What makes a business, an art or an endeavor great? (Hint:


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Never leave the site of a strong idea without doing something to execute around it

Aug 25, 2016 10:05 AM

If you have built castles in the air, your work need not be lost; that is where they should be. Now put the foundations under them. - Henry David Thoreau.

Thought leadership might start with thoughts, dreams and ideas, but it is a radical different shift from daydreaming. While dreams are necessary, they are only the wishes. What differentiates wishes from missions is the good old ACTION.

If all great ideas were executed, the world would be a


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If you’re not scared a lot; you’re not growing very much

Aug 20, 2016 09:57 AM

While most would disagree, but fear is actually a really good thing. Why? Let’s elaborate and try to understand the reasons why.

Do you remember the first time you sat on a bicycle? You were so scared...of falling down and scraping your knees. And what happened? You did fall a few number of times and you did hurt yourself. But, you also learnt to cycle.

This was an example of childhood. But, at every stage of growing up, you come across many instances where you are scar


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Become part of the solution rather than part of the problem

Aug 13, 2016 09:52 AM

You're either with us, or against us - George Bush Jr.

George Bush Jr. was right when he said this - You can’t be neutral. You are either on one side or the other, and we are not talking about the war against terror divide. We are talking about the solution or problem divide. Unfortunately, no one else put it forward that clearly, and never in this context. While you may stay as neutral as Switzerland when it comes to the World War II, the Cold War, or the war on terro


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Associate with people whose lives you want to be living

Aug 08, 2016 10:30 AM

Tell me who your heroes are and I'll tell you how you'll turn out to be. -Warren Buffett


There are people you want to be, whose success you wish to emulate, whose lives you want to live, they are called role models. And, they are a must for anyone who wishes to become successful in life. In an uncertain world, their lives serve as lighthouse during the times of confusion and provide a navigation map to success.

So let’s get started and find your