Out of the BAG
Today’s story is shared by our Business Coaching client, Gautam Gajra who is the founder Partner of Lucre International; leaders in Onion Exports this story was narrated to him by his grandfather who belonged to Sindhi community, a community known for their Business Acumen.
Sindhis saw difficult days after India – Pakistan partition. Sindhis belong to Sindh province which now falls in Pakistan. After India – Pakistan partition majority of the Sindhi population took the decision to leave Pakistan and settle in India. While this happened, they had to leave all their properties like homes, offices, land, and businesses as well. When they arrived in India they had nothing but very limited resources they could carry with them back from Pakistan.
They started trading in Sugar. They purchased Sugar from a wholesale market and sold to local traders and shopkeepers, keeping no margin. The only condition was the empty bag be returned to them with the next order.
They were the cheapest suppliers in the market. In no time they started ruling the wholesale market. Though they seemed to be in the Sugar market, their revenue & profits came from the business of empty bags. This helped them dominate not only sugar but empty bags trade as well.
Here’s the simple arithmetic which worked in their favor. *Gautam Of Lucre International who is in Onion exports business* shares, even today he sees the same trick being practiced in the market. His onion graders and suppliers who are millionaires make substantial profits of their business out of selling empty bags. An empty bag which sells in the used bag market for 10 Rs/bag. Profit by selling an empty bag is Rs 100 per ton. They pack 200 to 300 Tons a day. 200 to 300 Tons per day is 20,000 to 30,000 per day. Per month profits turned out to be Rs600,000/- coming out of nowhere!
Learning from the story
1. To earn money you need a strategy. One idea can change your life.
2. Low margins with high volumes can create magic with efficient systems in place.
3. Find non-conventional ways of earning revenues in your business to disrupt & lead the market.
Questions to ask ourselves
1. What strategies and systems do I need to create multiple revenue streams in my Business?
2. How do I add non-conventional revenue streams to my business?
If you really want to learn strategies & systems to add multiple non-conventional revenues to your business; here’s my personal invitation to our seminar Business On Autopilot.
