3 Key Factors as Foundation to Start with Ayurvedic Herbal Products Distribution Business in Your Country
Every business needs some strengths or key factors to be in your favor to speed up the growth and expansion throughout the country. I am not talking about business model here. Business model is important but it comes later.
These 3 key factors help you to decide whether this business is suitable for you. These are more like the attitude and aptitude things.
The three key factors for successful start, setup and running of Ayurvedic Products Distribution business are - Exeperience, Passion and Finances.
Definitely, it is not necessary that you have all 3 in equal proportions. These can vary a lot and you could still be successful if the other two are supporting you well.
Recently, I went through one study of successful entrepreneurs. Hundreds of business owners were interviewed deeply and probed. The conclusion was that GRIT or Consistency or Persistence is the Number One Stuff in one's character that governs success in long run.
All these 3 keys factors - Experience, Passion and Finances - support you to exude GRIT.
It simply means that you have one of these...
The overall goal with Experience is that you have some exposure to business processes.
Before starting Holistic Herbalist in 2011, I was an Ayurveda practitioner with zero business skills. I do have exposure to business processes in the form of clinical Ayurveda practice and some basis knowledge of internet marketing.
When I started business, and products were being manufactured, I got first order from Malaysia. I didn't know how to make invoice and asked help from CA to send me an excel format for the same. I got it and tweaked with our information and it is done. I jumped off out of deep passion and managed to do well now with business operations.
I have friends doing very successfully in Europe who were having entirely different businesses and when they started with Ayurveda, it grew to very good level in short span of couple of years.
Simply, experience helps to give practical direction or channelizes the passion and appropriate use of finances in Ayurvedic products business growth and expansion.
Passion or Deep Interest:
You have to be little careful in this regard. Passion doesn't mean fad or passing interest or being inspired momentarily.
Passion means that you have some deep interest and motivation for personal wellbeing and / or holistic and natural wellbeing.
It is the force inside you that will help you to stand up and run again if you fall, it will propel you through the rough patches of life and business journey.
I have many great friends who had initially just some interest in personal wellbeing, and they started with Ayurveda business not now, some 20-30 years back, when it was the almost rare thing to start. Out of passion, they kept the flag flying despite being the only company of Ayurveda in their country for decades. Big Salutations!
If you want to follow holistic and natural wellbeing, just for squeezing cash and don't care for your health, then, we are not a good fit for each other. You might pursue some business with medical drugs. Or there are other businesses and professions where you can make money faster.
Finance is like the fuel in the car. It enables one to play small or scale, to hire a team, to move fast or to get stuck. At every level and step of business, the strategy and action should be taken keeping tab on finances.
In this opportunity of Ayurvedic products business with Exclusive Rights in your country, there might be two situations.
You are belonging to the country where around some of our existing products could be imported as it is, without change in their formulations or ingredients, you could go ahead with 3000-5000 of US$ or Euros. It is okay if the outer packaging is to be changed or modified or translated. It is presumed that you could start with ordering about 100 units of each product. Such countries are USA, Canada, UK, Australia, New Zealand, Singapore, Malaysia and Thailand. There might be more such countries that I might not be aware of. This is most ideal for practitioners or small store owners who passionate to scale up big time.
You are belonging to a country, where there is certain herbs restriction, and new products have to be formulated specifically for you, it means that you need to invest 3000-5000 US$ or Euros in one product as you need to order a minimum of 1000 units of each newly registered product. If you go for 10 such products, it could take 30000-50000 US$ of funds. Such countries are Italy, France, Norway, Germany etc. Many more might be like these.
And definitely, you need some more to pay for freight, import duty if any, and to set up and run business in your country.
A Presence of All 3 is Ideal in Whatever Proportion:
A balanced state of all 3 is ideal. It is sure that you might one or two in greater proportion or other one or two in lesser proportion. It is okay.
If you know about Ayurveda Body Mind Type, you know that there are billions of men and women have all three and in varying proportions and we are living well. The same applies to these 3 traits.
If you have only two, spend some time to develop a little of the 3rd one. It will help.
Ayurveda business requires the 3 traits, these can be in varying proportions, like Ayurveda body mind type, and you will thrive.
This might give you a good idea about the 3 Key factors. Now, you can explore the persons or organizations who are more suitable or rather who already have these 3 Key factors in their favor. Find More...
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