Upgrade Your Mindset, Double Your Business | Rajesh Kumar Kare | TEDxMRU

Key Concepts

• Business stagnation at various revenue levels (1 Cr, 2 Cr, 5 Cr, 10 Cr, 50 Cr, 500 Cr).
• Accelerated business growth timelines (100 years to 5-10 years for 10,000 Cr company).
• Lack of investment in learning and development by business owners.
• The "Train Your Business for Success" framework.
• The business owner as the "engine" of the business train.
• The "TRAIN" acronym: Technology, Resources, Adaptability, Innovation, Networking.
• Importance of speed and efficiency in service delivery.
• Finding your "Why" as an entrepreneur.

Business Stagnation and the Need for Learning

Rajesh Kumar Kare, founder of RPS World Class Business Coaching, opens by addressing aspiring and current business owners. He observes that many businesses plateau at different revenue levels (1 crore, 2 crore, 5 crore, etc.). He contrasts the past, where building a 10,000 crore company took 100 years, with the present, where it can be achieved in 5-10 years, or even 3-5 years as seen in success stories on platforms like Instagram, Facebook, and YouTube.

The key difference, according to Kare, is the lack of investment in learning and development by business owners. He draws a parallel with professions like MBBS, law, and engineering, where significant time (3-5 years) and money (₹1 lakh to ₹1 crore) are invested in education. In contrast, business owners often invest nothing in formal business education, leading to stagnation.

The "Train Your Business for Success" Framework

Kare introduces his upcoming book, "Train Your Business for Success," using the analogy of a train. He highlights the advancements in train technology (Metro, Vande Bharat, Bullet Train) that have drastically reduced travel times. In this analogy, the business owner is the "engine" and the team members are the "bogies." Improving the engine's speed (the business owner's capabilities) will exponentially increase the entire business's performance.

He then introduces "The Business Train to 10,000 Crore," emphasizing the need to "catch it before it leaves the platform." He mentions the regret of missing a train by just a few minutes. The core message is to upgrade your mindset and double your business speed. He uses the example of athletes and coaches to illustrate the importance of mentorship and guidance.

The "TRAIN" Acronym: Key Components for Business Growth

Kare introduces the "TRAIN" acronym, representing five crucial elements for business success:

1. Technology: Businesses must adopt new technologies to reach the next level. He cites Fortune 500 companies as examples of technology-driven success. He shares a case study of a manufacturing unit with 25 machines and 40 workers, where implementing technology doubled their manufacturing output and profit within three months.
2. Resources: Utilizing available resources is crucial. He mentions ChatGPT, Cloud, Gemini, and other tools. He emphasizes dedicating specific resources (manpower, technology, tools) to areas where results are desired.
3. Adaptability: "Change is not optional; it's survival." Businesses must adapt to new technologies and systems. He notes the decline of traditional FMCG retail and Kirana stores due to the failure to adapt to quick commerce platforms.
4. Innovation: Indian business owners often resist innovation, clinging to traditional methods passed down through generations. Kare stresses the importance of embracing new ideas, technologies, and systems to avoid business losses. He gives the example of older generations resisting social media marketing until they see the need for it.
5. Networking: "Your network is your net worth." Business owners should network with individuals who are 10x, 20x, or 50x more successful than themselves. He shares a case study of a saree store whose sales doubled by collaborating with photographers and designers.

Practical Advice and the Importance of Speed

Kare advises Indian business owners to focus on foundational elements like accurate bookkeeping and investing in their learning and development by hiring mentors and business coaches.

He introduces the concept of "How much faster you are than the market." He explains that businesses can charge a premium for faster delivery. A 25% faster delivery allows for a 25% higher price, and a 50% faster delivery allows for a 50% higher price, as seen in the e-commerce sector.

Rajesh Kumar Kare's Journey and "Why"

Kare concludes by sharing his personal journey from being an employee to starting his own manufacturing and retail business. He emphasizes the importance of finding your "Why." His "Why" is to guide the 6.5 crore MSME business owners in India, helping them overcome stagnation and build 10,000 crore companies. He states that RPS World Class Business Coaching has helped hundreds of businesses improve their inventory management, automate operations, and multiply their profits (2x, 3x, 5x). He reiterates that his upcoming book, "Train Your Business for Success," covers all business parameters, including HR management and operational efficiency.

Conclusion

The video emphasizes the critical need for business owners to invest in their learning and development, embrace technology, adapt to change, foster innovation, and build strong networks. By adopting these principles, and viewing their business as a "train" that needs a powerful "engine" (themselves), entrepreneurs can break through stagnation and achieve significant growth. The "TRAIN" framework provides a practical roadmap for achieving this success.