 Hi everyone, this is Sonali. Thank you all for coming out some time for attending the episode four of BEITS Academy, Business Excellence Mentoring and Coaching. To all the attendees out there, please type in any questions you might have in the Q&A section and we'll try to answer as many as possible at the end of the session. I would now like to welcome our speaker, Mr. Gaurav Mariah, Chairman and Founder of the Franchise India Group. A very warm welcome to you. Thank you, Sonali and welcome friends and hope you're doing all are well and you're keeping well with your health and safety of your family and friends. This is a very, very difficult times and the last particular I think month and a half India has passed through a very difficult and confusing times and it's also impacting a lot of businesses around us. It's also impacting your businesses, the way your career is moving, everything is changing. So today's topic which I really picked up was transformation. So we will talk about why transformation is needed, why a lot of companies start thinking of transformation out of this adversity because you start understanding that businesses might have changed and there is anyway the constant disruption going on in last especially 10 odd years, if you see there is a constant disruption and a lot of markets are shifting. So, unless and until you really think on how do you really want to transform, especially with after when we come out of this whole situation, how do you really look at your organization at transforming. But we will also talk about the transformation is not easy or it's not a step which you should take in haste, you need to really understand when this transformation needed for your organization. Franchise India at a group we are involved with a lot of mid-size and small businesses and early startups and we're very fortunate the last 23 years we had an opportunity to work with over 10,000 corporations. I personally have been involved with consultations over 2,000 different companies. This would be large companies, this would be mid-size family businesses and a lot of early startups. And I have really seen in the last particularly two odd years that the need of transformation of businesses has become more than important than anything else which is happening around it and it is most difficult step to really do that. But we need to understand what is transformation. It's not really about just making an incremental change which we do in any way in our organizations. The transformation is when you are taking some bold steps or setting up a bold ambition really to change beyond this just a small incremental change. And that's something this isn't which is very important and should come with some kind of understanding where you want to really grow that's very important. You need to also understand how your organization currently operates. What are the improvement areas which you have in the organization? So let's start with a lot of questions which should come to you before you even think about transformation. When is the transformation needed? That's very very important. It's not really it happens once it maybe happens once in lifetime for you or your organization. So is it a time where you have really defined that this should happen? What kind of timeline you want to give to this transformation of your company? Are you emotionally and financially ready for that transformation? That's also very important because sometimes you're not emotionally ready for that transformation or you don't have that financial backup to support that change because change sometimes disrupts the way business is going on. And we are always in our comfort zone that we don't want to disturb what is going on. And this is one of the problems in transformation because sometimes you don't want to break what is going on and you want to really build something new and doesn't happen. And that's something which you need to really see are you emotionally and financially ready for that change? What kind of deep impact you would like to see? That's also very important. And have you conducted any kind of a diagnostic on your own company or a business which you run that you need understand that there is the time now for this transformation? It must be understanding your competition. It might be understanding the your customer, their retention, their feedback, their insights. You also need to see other markets similar to India where there is a certain change and you feel that that predictability of that change would also happen to you. And you need to divide your entire transformation journey into pretty much three phases. First, define your full potential of your business. How big is the potential for your business? Don't really limit yourself, limit your thinking. Yesterday I was a call with a company which is actually a furniture company I met about 10 years back and the first time I met this furniture company and he told me that look I'm getting a startup and running that business and I want to create these large showrooms and his vision was very IKEA. And at that time we had a lot of debate. I still remember and then I told him that you're organizationally not ready to do that because it was a large retail play and they didn't have that kind of organization structure. And yesterday I had a call and he fondly told me that 10 years back what discussion we had. Now they're running almost about 100 stores and these are large big format stores. But when his CEO started really giving now he because he has a good organizational structure, good professional along with it. When the CEO started giving and he started that we want to be the world's favorite brand when it comes to furniture retail. Now sitting in India a company which is just 10 years old somebody who's already now good to about 100 stores who has a set an ambition to become world's favorite brand. It really speaks about the that whole mindset or a culture which has been incorporated in the company. And I've seen this company really when they were starting the first location and then now about 100 stores. A company is called Royal Oak. They're large format furniture stores. But I was very compressed with the very clearly the messaging coming from the leadership team because they are aligned with the kind of vision the company has done. So you need to not have to limit your ambition. See your company or a business full potential. What is your full potential? That's phase one. Define it, write it down, set yourself as a vision. Second, develop a very strong transformation plan. What is a transformation plan and what needs to change? And we'll talk about that in our today's webinar about 30 odd minutes. And we'll also then the phase three really is the implementation plan. What it needs to implement and how it needs to be done. Transformation today really connects few dots. And if you don't connect all the dots and work on every single dot, it doesn't work. First, set your mission right. What is the mission? What is the larger goal setting which you want to do? And that has to be aligned within the organization. Second, get a lot of insights on what is your customer telling you? What is the preferences? What is its priorities? How shifting? How you would be able to really reach to the next goal of your organization to adapt to that change? Third, very strong integration of your organization. Your organization has to be extremely integrated and has to have a seamless flow. Fourth, develop strong processes which are very, very important. Fifth, technology is no more an option now. It is a must for every single organization. If you're not really putting kind of a technological transformation in the organization, you'll never be able to scale to a certain level. That's for given. And not almost every organization would need to invite a strong technology piece. And sixth is your talent. And we are going to talk today particularly because it's only 30 minutes. We're going to talk about a little bit of talent. But what the role of talent really comes in in the transformation of the business? Now let's understand six big questions which comes to your mind. How your transformation goals and objectives would be aligned to your larger business strategy. And business strategy is further defining your value system, how your value is defined. So how your transformation goals are aligned to your business strategy. So you deliver seamless value which means that you create, deliver and capture value. And value would mean differently for different organizations. It would be your revenue, your profitability, market share, brand recognition, consumer loyalty, customer retention, many other things which would really start coming in. So you need to really define what is the larger value for the organization you want to deliver? What is your broad business strategy? And it is aligned with your transformation. And ask very simple questions, you know, what is the larger value? Larger value is if for you to use customer loyalty and retention and getting your brand recognize there and having certain amount of market share, then how do you deliver that transformation of your organization which is aligned to your broader business strategy? That's very, very important. And sometimes that's missing. You know, the goal is very, you know, is not very fixed and it's not very aligned and that not we were able to deliver that. Second part is understand your core competence. And sometimes that's not very defined in the business. You're doing a lot of things but you need to really define a very strong core competence. Yesterday I was in a consulting or workshop with a client which is into luxury car, pre-owned car sales. So which means that they're pre-owned luxury sales company. They put out the big showrooms, this 10,000, 15,000 showrooms and they sell all this pre-owned luxury car, the BMWs, the NORDs and that. When I started working with them and I started questioning them, I found that they're very strongly traded mindset. You know, trader mindset, they want to buy everything cheap. The cheapest they can get in the market and they want to sell it higher because they are able to see the bigger arbitrage or a margin in the business. That's what their mindset was. When I started asking them questions and I realized that they're forgetting the life journey of the same buyer which comes to them. So which means they had two stakeholders. One was seller and seller wanted to come to them and I asked them the question and say who is your, what is your biggest problem? They said the biggest problem is getting high quality cars to come to them. I say why high quality car would not come to you? They said because we will not give the price. I said this is the answer which you need to really understand that how do you change the organization and start giving this message that if a person wants to sell a luxury car, you get the best price. Hence, you will be able to attract them. That's one problem solved. The second is who is your buyer and why he's coming to you? So he's a buyer who's buying luxury, he's very aspirational, he's also something who's an enthusiast who continue to change the vehicle very, very often. If that was a need then you need to shift, you need to shift from just making a margin and selling him car, you need to maybe manage his life journey. So that would become your business. If you think that you can get a customer who would come to you and for next 10 years would continue to change multiple times cars with you, you will have multiple options of transactions. Actually, I defined that there would be a 24 different transactional life journeys with the same customer over 10 years, which means that they might come two times for a service and he'll come for maybe five to six times in the whole journey to replace or change the car, which needs to be done. So if you thought from that perspective, to me the biggest opportunity would be the customer management. If how do I manage the journey of this customer for 10 years and how would I make him excited about me and what the opportunity is that and that would change the way you look at the business. So understand your core competence, understand what you really want to deliver, what is the business in saying and stay on very strongly on your core competence. Then you need to really understand and reinforce the third part is how do you reinforce your transformation journey and how do you continue to monitor and measure the things which you want to really do that and that's very important. It's not really A to B, but that is what journey needs to be done. So if you decided that this is what I want to transform in the business, this is how we want to really be as an organization, then you need to really see at every stage how you are able to do that. Now another very important is how do you really bring in what I call the change adapting culture. The biggest problem especially for Indian businesses is that we are not so open for change. Our organization resists at every level. It can be teams, people, stakeholders, vendors, everybody really resists any form of change. How do you first change the and putting some kind of a change adapting culture in your organization? And especially when you are a legacy business, you have two or three generations in the business, it becomes even more difficult because then you have a lot of emotional cord to break. People don't want to break. They always have done that kind of business. They have always done this. These days a lot of retail, brick and mortar businesses which want to transform them to online are finding it extremely difficult to break that emotional cushion. It was a very, very difficult part to really understand and say this has already done, this might not be ever coming back. For a lot of businesses, I mean a lot of people are questioning that would multiplexes be ever back. I mean now a lot of people who are invested or they're emotionally attached or they have seen this entire thing, a lot of people, industry players I know are absolutely blind eye towards that. They don't want to really even accept that fact that this would not be maybe the same industry ever again. Now if you resist that piece too long, there you are even more in danger of the entire thing. And I know this time around there would be a few companies which would go out of business completely because they would not accept that mindset of change. And this is happening in almost all conventional technologies, energy businesses, all these businesses which are on a conventional or businesses, they would put too much time to really change and suddenly they would be redundant in the business model. And so you need to really see how you're able to transform faster to do that. Now the big question is really how your transformation leadership would look like. Transformation is an easy word to use but very, very difficult to implement and how you really bring in the right kind of a team structure, your leadership structure to bring that change. And that brings to me the next point which is how do you really do the change? While you have to connect many dots but I'm going to take because of the time today, I'm going to take the other team part of it. So team, I would divide this into four different parts. How do you energize? How do you bring the change itself? Which means that you might have to let go some of the people which might be very important and critical for you at this stage and always sound that this is the most important part of it. But you don't see them be part of your transformation company. So that's something which can be your old guy who looks after your HR. It can be somebody who's been handling your finance, somebody who's been handling your purchase. It can be any critical department but it's not accepted to the new form of change. And that's something which is emotionally hurting because of this. And second, also you have always seen the personality in the front of the role. So personality becomes overpowering than the role itself. And you need to detach it and see what is expected out of that role. So if you don't see that marrying together, then change is must. Then you need to realign which is also very important and then sustain. So energize, change, realign and sustain. First is how do you energize your organization? Before you even start looking at larger piece of transformation, you need to really energize the entire organization. And first you need to concentrate on the few early business outcomes. What is the outcome you're looking at? And I see that if you really start going deeper into any companies, large part of their problem lies into what I call their reach or distribution. So they have problem in that and that shrinking or not going somewhere. And these times, if you are a conventional business, you have limited reach and you're not able to digitalize yourself. You're not able to put yourself into the new age of consumer buying behavior. So your distribution is a problem. Or sometimes the product itself has gone fatigued. You need product itself needs innovation. So you don't know where the problem is. Problem, if your product is relevant and strong, but you have problem in your distribution, then maybe distribution would need full overhauling and look at a new transformation of the business. If you feel that the product itself needs innovation, then that also we need to do that. So you need to really see and prioritize what are the first one or two most important things which you need to really transform in the business. That's very, very important because if you start addressing all issues, you will not be able to do that. Pick up one or two the most critical things. If it is on your product or a service, which you feel that needs a drastic innovation, then take a break, put your heads together, understand what innovation would be required for your product. It's never too late to really agree yourself and say, my product is already fatigued. It has no more demand. I remember one company I used to do, this was called the Chawda 555. It was a traditional Saudi store. And we in the early 2000s started working with them and took that company to about 100 stores. And I used to always debate and say, now the Saudi business was good and they were in the valued space. They were not in the high occasion business. They were in the value space. And I used to feel that the Saudi itself while it looks exciting, but it's a shrinking category. And they were overdoing that reason. And I had a number of discussion and said, why would you not step into, and we were seeing these companies coming in W and Beba and other papers companies, and they were growing very fast. And this company was much ahead of them. They were much ahead. There were 100 stores at that time. I remember the other companies were 15, 20, 30 stores in early 2000 and they didn't change. They were just doing what they were doing. And they didn't understood that the way a woman in, especially in work is not wearing a Saudi anymore. So she's moved on and she's using something else. And these other companies were innovative. They were design centric. They understood the diffusion. They understood a new demand. And they migrated very fast. But this company was not able to do that. And hence most of the stores are shut. And they were not able to sustain the diet. So if your product has come down to a point where it needs even more harder push to go in the market and you're losing your target group very, very fast and or it is aging very fast for you, then you are already in a trouble. So you need to really go back to your product innovation itself. And there's no problem in terms of doing that. I mean, the biggest of the companies have done that. I was in Greece, actually met a old Coca-Cola CEO of Europe. And he moved from Coca-Cola and started a company called Green Cola. So this was a Green Cola, which was designed for a non-sugar. They were using plant sugar replacement for that. Very good innovation, great product. And actually in Europe, while Coca-Cola started seeing it early stage performance, and they actually, he showed me that they Coca-Cola now launched following them because they clearly see the change and see what is the difficulty people. People really like to have a Cola, but they don't want the sugar. So how do we really change that perspective? And that change, good companies would start early adopting. Almost every large company, if you look at Unilever, you look at Procter Gamble. Procter Gamble has a separate company called Futureworks. So they work on how 10 years from now, 15 years from now, a company a consumer would purchase. Unilever has also similar separate businesses. So they continue to seed in that change. They understand that change is going to come while they have a separate business to have that sensitivity. But smaller businesses don't have that. They're pretty involved in their own business. They don't time it right. They don't time the change which it needs to be done. So you keep your focus and if their product has to innovate, then don't wait for this piece. Now let's get into the next point. Before you start even the transformation journey, see your employee engagement level, how your employees are emotionally and engaged with you. I have a separate company called Engage and Grow which is the biggest employee engagement company in the world. It's in now 40 countries. I manage India and Middle East in that business. And we took over that business for India and Middle East. In that fact, we have a very big survey. It shows that only 13% of your workforce, only 13% is positively engaged with the organization. 87% are either not engaged or actively disengaged. You see, they're either not engaged, which is a large chunk of that, or actively disengaged which is even more dangerous because they're actually making others also not engaged. So first, really see and deep down understand the ratio because if the transformation journey has to begin, your team alignment and engagement is extremely, extremely important. Even if you are a five people company and you feel that there is a one person out there who is actively disengaged, he should not be in the team because you will not be able to go into any kind of transformation journey by the time you have any of such a situation. And sometimes you want to correct that by a lot of convincing story or engagement and things of that. It only works for the first two. It works for your positively and people who are not engaged maybe they become more engaged because there is a larger company vision which you really set for yourself. Another area which is part of your, what I call energizing the organization is about creating and designing an environment to change. Everything smallest elements start shifting. And I see this in greatly in the bigger organizations. Everything they do, their environments, their offices, everything they do start speaking that change. So people really work in these environments and they are actually being told not from just by the CEO or the business owner or something. The environment starts speaking to them that we are out of part of that change. So how do you change that environment? It might be your traditional office now needs a little bit of a different viewpoint on how we want to approach it. And there are a lot of things which are micro things which you can bring your belief system around the company. And that's something which is extremely important. And that piece of, for example, I was working with one of the large consumer electronic companies and the CEO had a belief system that he want to democratize every decision. And he was actually launching a new product and he wanted a brand to be assigned on that. So he created four brands and kept it outside his office and every employee, it can be anybody, any level would have to go and say, how do I like it? When I went to meet, I was really finding this very rare that any CEO would do, normally it would be limited to one department of your business which is most of what I'm marketing, brand head and stones for. But it was must for every single member of the organization. It can be a junior, blue collar resource also to come and say why he liked it and what needs to be done. And that was very clearly a messaging to me, not necessarily for that particular brand because that might be not so much a big message but the message was largely that he wants to democratize any kind of decision in the organization. So sometimes your environment tell you a lot. If you create an environment which starts giving you that kind of a piece, it makes a good sense. Now let's get into the second part. Once you have energized your environment or your team or your organization and you've also found out very clearly the few impact areas you really want to work, then you need to start getting into implementation and implementation would start with creating what I call change team or impact team. What is the impact team and what are the highest impact roles? To most of the organizations, it's a consumer facing roles. Those are the most impactful roles because they are the ones who are having the most insight on what consumer is looking at. And sometimes the most ignored because they are front of the line team members, they are talking to your customers regularly and they are the ones who are the biggest impact. So this is where your impact team would really start. Now a lot of debate really comes in who you really want to be putting as a change head or change team leader or that thing. It would be somebody who you really want to look at from inside the organization or you bring it from outside. A lot of people think, why don't I have anybody in my organization? I have to hire somebody from outside or it may be somebody inside itself. Now this is a decision which has many debates globally and there is no one answer to it. You need to really see if there is somebody who is very competent enough internally, great because then he's already synchronized with the culture. If you are that great that adaptability but if you don't have that then maybe you would have to bring in somebody from outside. Another question really always comes in, how do I balance between the loyalty and the skills? Sometimes you don't want to let go the loyals and they always try to be part of everything you do but I think you cannot ignore skills at this moment. And integrity is certain but I would say skill has become very, very important aspect of business and especially in these ever-changing environments. Sometimes in older times, the loyalist used to get his time frame to really come down to take the skill up position and come down to level when I think now you don't have that window. You don't have that window. You need to have a sharp skilled person available there and then to really deliver the change which you want to really do that. So that's very important but then you have to really go into the third part of it which is how do you manage and sustain the change because even if you have done some change and you have come down to a certain level but the important would be that how do you really manage and sustain over the time and that would be very, very important and that would mean that you need to create some kind of your cultural influencers in your organization which will continue to really drive that and it's a behavioral change which would need to be done within the organization and also be very careful that there would be resistance from people who sometimes don't want to be part of that change and you need to take some very important and difficult calls for that change management because these days I'm working with many organizations which I'm advising or working with and I know how difficult it is for them to even accept the fact that few of their team members are not part of the future of their organization which they have and sometimes they are very difficult and sometimes it can be of your family members who are being part of this but we don't see them part of that transformation and that happens with a lot of organizations which have this internal family departmentalization and running that and they don't come to terms that this might not be the right skill then the family has to really sit together and say we probably are not the best people to lead this transformation or change we might need to have bring somebody from outside and this happened in many organizations look at companies like Dabbar which is now a very traditional FMCG company used to be run by a Berman family and everybody else and I think the 15, 20 years back or maybe more than that they started looking at professionally the organization and look at the organization and how it is performed it's done phenomenal competing with the world multinational FMCG groups because they just did a very big change and the family stepped back and took their more shareholding positions or board positions and they let the entire organization be led by strong professionals who can really think through and bring that change to the led so if you already want to bring in you know this transformation first develop your right team get the their message and the compelling story out there with them build a common sense with all of them to bring a common practice and a common purpose so this common sense would first come it should bring in common practice everybody would perform the way we were going and setting the milestone and there would be a common purpose for people to really do that and that's very very important part of it and the final thing before I end this today's webinar is when you're looking for a transformation a few rules you have to really do one set up very very high aspiration it's not worth it to build a very strong transformation unless and until you have a bigger journey to now conquer second set yourself incremental targets with incremental results what are these incremental structures and I think and third over invest yourself in building strong deep rooted capabilities don't really take this the deep rooted capabilities are very important a lot of companies are these days working on digitalization and doing that and if you see their digital effort is very me too very half-baked products almost everybody created an app which has no meaning no engagement so really these are what I call half-hearted efforts which doesn't create any kind of results or any help for that transformation it looks you that you are also working towards getting there but there is no clear piece to it and and a lot of money has been wasted for a lot of companies who wanted to become digital or become to do a digital transformation but because of their half-hearted efforts with no force and no real thought process behind they have no real impacts which has been created so think through all these I hope that I was able to give you some insight on the transformation it's very difficult to cover much in this 30-minute window but I just pick up a few ideas and throw it and if it is worthwhile for you to look at in your business then it should be worth for us to really come and present this piece over to you Sonali if you have any questions Thank you so much Gaurav Sir for another wonderful session as always we do have quite a few questions lined up with us already so I'll just take up the first question the first question is what is the best practice that you have incorporated in your own work culture or organization that you would like to share with us you know so I'm in the work of a transformation in one of my companies I'm actually in the piece of that I'm still because we are also a 23-year-old business and my business has different companies and today about 12 different companies some are relatively young some are 20 years plus old some are 12 years 15 years old so one of the things which I'm changing in my organization these days is align my teams to think through what is our larger purpose you know like for example franchising their stands for helping people to get in business that's what our larger goal system is so we have so become so thinking mind that we only think these are the businesses which we know but actually know what are the next five years 10 years future businesses how are they going to come where are they going to come from and unless and until the organization's thinking starts changing and we start rationalizing why are we doing this and why who we really want that is a tough tough call because you're trying to really change the goalpost itself you don't really move to and a lot of other things which I'm at this stage you know that's why I want to do these sessions because when I do these sessions I get my own reflecting time in terms of it's easy to actually go and tell anybody else but it's very sometimes very difficult to work and implement in your organization and all these things which I said sometime taking hard decisions and changing things which you need to really move in your organization these are all hard calls and especially with organizations which are two decade three decade four decade old it becomes even more everything is very emotionally driven to you and we did some changes and in the organization we were very clearly very strongly spread our 40 plus offices and when this whole covid started we started looking at do we need these infrastructures our businesses need that our businesses need to be sitting on the client side rather than sitting in our offices and so we do a lot of changes but some major transformation I'm still I would say I'm still about two years away from a major major transformation for the organization very well said sir the next question I would like to take up is how to find the right talent for the company I always struggle with finding people who are loyal to the company even if I try my best to fulfill their interests so take the word loyal out of the whole dictionary you know this is not I'm from saying from a negative viewpoint but take this word out this is overly used by business owners across board I don't get loyalty people are not loyal and things like that you're not finding loyalty you are as I said find the larger you know the common purpose if you don't have the common purpose with your person you hire and hire for skills I used to always say hire for integrity and loyalty at one point time but now I say hire for skills develop a common purpose that's what something needs to be done you know and if you just search for loyalty and and this very hello you know shallow word so it's not really having some kind of a meaning left today in the in the space people are are coming for their own desires unless and it matches with with the company goals and their goals it would not work and and and I've seen you've seen that you know we've seen companies which were known were the most friendly employee policies like Infosys and things of that nature in the 2008 turn I saw a lot of employees really writing wrong about the company they're not very happy about it there are a lot of people left the organization and think what happened you know I mean Infosys were always known for the best because that time alignment was not working out it was not working for their aspirations and the company's aspiration they were not matching and there was a large restlessness in the organization so there is I that's my own belief that there's no you should not find the common purpose that would be more more meaningful at this one right the next question I would like to take up is is it smarter to cut back on expenses at this time and let go of employees which are not immediately useful or is it better to retain all employees since the situation might be normal in a few months hopefully again very difficult question to really answer on what is your financial health and if somebody is not important today might not be important in future also now that decision is a very important decision for you to take because I feel that the most of the lot of organizations are built on the bricks of convenience they keep building these bricks and sometimes if you're not having so much of relevance of that piece also you just carry on because this becomes part of your design structure it is a good time to reflect on that it is too time to reflect how you want to do this piece and if you don't need it today you might not need it in future also which means that this is not the company's right cost and then you need to maybe take a decision right now and move on but that's called is purely with you that how do you really define the need today I mean versus future and I personally feel if somebody is not really needed today it will not be needed in the future also right and the last question that I would like to take up is how often should we connect with our team to ask about the emotional well-being feedback concerns about the company also should I be personally involved in this process as a CEO yeah you should be you should be involved in that process I mean engagement is very important for employees and their well-being and I feel that there is a clear classification which is coming and somebody is really not well it's not well needs your attention it needs everything from you and somebody who's well and maybe emotionally not aligned needs a little more emotional alignment and there is another lot which I would say I mean a lot of people don't want to talk about it but I have no problem in talking about it there is another lot which is actually not in this too they're just being on what I call the advantage side they're well they're at home but they're just not really willing to do that is my problem and then you need to also set some course right because the work has to go on the world has to go on you know we all have to really learn from these you know people and if you really see I mean we're talking about public sector people we're talking about healthcare professionals they're all struggling and they're putting the best to their jobs and businesses why would private businesses not do the same right what is the problem to not really accept that we all have to do whatever best can be done to make our businesses sustainable and that's that also is a strong message CEO you should give it from directly from you that you have a certain expectation for people to do that while it looks like why should I be at this stage talk you cannot generalize the situation somebody needs help somebody is in difficulty you need to help but somebody who is alright and can contribute should contribute and that's something which you should be very straight in in presenting themselves to your team and as a leader you should never shy away some people don't like it but that's alright absolutely so with this we'll just wrap up our Q&A session thank you so much Gaurav sir once again for very patiently answering all of our questions like always and anything you would like to say in the end so thank you very much thanks for joining in every Saturday for these sessions these sessions are have only one purpose that you know one is my selfish purpose because I want to do this on my reflection time so it gives me an opportunity to reflect some time on a new thought process and reflect on whatever I do in my consulting business and second is also I feel that there's a larger responsibility of franchising they are being you know a company which has empowered small businesses startups mid-sized businesses largely that we continue to give any kind of a service it can be delivering opportunity it can be delivering knowledge it can be networking all the things which are required for our business community especially startup to mid-sized companies that's our responsibility to continue to bring and that's what our part of service is you know and we feel that that service we will continue to deliver and if you have any need of help you require from Sonali business which is businessx businessx is known for helping companies to raise capital value their businesses and even resale if you don't want to continue with the business you think that this was I'm done with my business and I want to sell that business that also businessx does values that and finds a new buyer who you can pass the pattern and can lead the business to grow and that also is a very difficult decisions a lot of people don't come to terms with that you know I have a call with somebody today who's sent me his business plan and I think the kind of effort which is gone into build that business would be immense and to get now deciding to a fact that I want to sell that business is a very emotional decision you know it's everything is attached to you this is where you go every day and want to really sell that but I feel that it's it's always the right time if you don't think that you are rightly right in both you know at the situation to manage that business or to grow that business it is the best time to exit that business so thank you very much thanks for your taking time out today enjoy your weekend take a little bit break from our work from home and and and and you know right rather spend no time with your family and and friends thank you thank you so much sir thank you to all our attendees as Gaurav sir said we'll see you next Saturday at 11 a.m for another episode of the series BX Academy and if you have any questions any doubts anything you would like to know more about our services or if you would like to have a recording of any of our previous sessions or this session please feel free to contact me and I'll be very happy to help you thank you so much