Not having got any response from my publishers for over a month, I called them up recently. The Chief Editor’s feedback was encouraging and discouraging at the same time. While our story itself has potential, she said, we needed to infuse more excitement into it. She indicated that the book reads too much like a report and that we needed to make it as gripping as an adventure story. “Fictionalize it”, she said.
I think we have ignored peripheral aspects (like descriptions of surroundings/ what people were wearing/ how the protagonist felt) while focusing excessively on getting the facts right... I do not think my publishers are interested in the book in its present form. The situation called for a decision:
Should we invest more time, do a major re-write - and continue to pursue them? Or should we approach a second-rung publisher and get the book out this year? The main things to be considered were time and timing.
So, I asked the protagonist what he thought. Here are his views:
“The Chief Editor indicated her interest in the story but the Head of Sales may have made her think again… In any case, it’s up to us to make it as gripping a story as possible. I feel it’s always better to go with a recognized publisher than a second-rung one… So, let’s invest some more time and then convince them to publish the book.
“As far as the timing is concerned - going by the prevailing situation here, it’s okay even if we delay the release till next year. It all depends on your availability to do it all over again. I am in favour of a re-write if we are to hit the top shelf. But get a second opinion if you feel the need to.”
So, what do you think?
Sunday, June 8, 2008
Monday, May 12, 2008
Publisher's Reaction to TAKEN ALIVE
"I have read it all, and enjoyed it throughly. The narrative is so distanced yet immediate that I found myself constantly checking my own response as I went along.
"I have passed on the manuscript to our Head of Sales, to get his assessment of potential numbers... I presume we are talking about marketing the book in India as well as Sri Lanka?"
"I have passed on the manuscript to our Head of Sales, to get his assessment of potential numbers... I presume we are talking about marketing the book in India as well as Sri Lanka?"
Thursday, February 28, 2008
PARENT - Job Description
POSITION:
Mom, Mommy, Mama, Ma
Dad, Daddy, Dada, Papa, Pa, Pop
JOB DESCRIPTION:
Long term, team-players needed, for challenging permanent work in an often chaotic environment
Candidates must possess excellent communication and organizational skills and be willing to work variable hours, which will include evenings and weekends and frequent 24-hour shifts on call
Some overnight travel required, including trips to primitive camping sites on rainy weekends and endless sports tournaments in far away cities! Travel expenses not reimbursed
Extensive courier duties also required
RESPONSIBILITIES:
The rest of your life, must be willing to be hated - at least temporarily - until someone needs Rs 200
Must be willing to bite tongue repeatedly
Also, must possess the physical stamina of a pack mule and be able to go from zero to 100 kmph in three seconds flat in case - this time - the screams from the backyard are not someone just crying wolf
Must be willing to face stimulating technical challenges, such as small gadget repair, mysteriously sluggish toilets and stuck zippers
Must screen phone calls, maintain calendars and coordinate production of multiple homework projects
Must have ability to plan and organize social gatherings for clients of all ages and mental outlooks
Must be willing to be indispensable one minute, an embarrassment the next
Must handle assembly and product safety testing of a half million cheap, plastic toys, and battery operated devices
Must always hope for the best but be prepared for the worst
Must assume final, complete accountability for the quality of the end product
Responsibilities also include floor maintenance and janitorial work throughout the facility
POSSIBILITY FOR ADVANCEMENT & PROMOTION:
None
Your job is to remain in the same position for years, without complaining, constantly retraining and updating your skills, so that those in your charge can ultimately surpass you
PREVIOUS EXPERIENCE:
None required unfortunately
On-the-job training offered on a continually exhausting basis
WAGES AND COMPENSATION:
Get this! You pay them!
Offering frequent raises and bonuses
A balloon payment is due when they turn 18 because of the assumption that college will help them become financially independent
When you die, you give them whatever is left
The oddest thing about this reverse-salary scheme is that you actually enjoy it and wish you could only do more
BENEFITS:
While no health or dental insurance, no pension, no tuition reimbursement, no paid holidays and no stock options are offered; this job supplies limitless opportunities for personal growth, unconditional love, and free hugs and kisses for life if you play your cards right
Mom, Mommy, Mama, Ma
Dad, Daddy, Dada, Papa, Pa, Pop
JOB DESCRIPTION:
Long term, team-players needed, for challenging permanent work in an often chaotic environment
Candidates must possess excellent communication and organizational skills and be willing to work variable hours, which will include evenings and weekends and frequent 24-hour shifts on call
Some overnight travel required, including trips to primitive camping sites on rainy weekends and endless sports tournaments in far away cities! Travel expenses not reimbursed
Extensive courier duties also required
RESPONSIBILITIES:
The rest of your life, must be willing to be hated - at least temporarily - until someone needs Rs 200
Must be willing to bite tongue repeatedly
Also, must possess the physical stamina of a pack mule and be able to go from zero to 100 kmph in three seconds flat in case - this time - the screams from the backyard are not someone just crying wolf
Must be willing to face stimulating technical challenges, such as small gadget repair, mysteriously sluggish toilets and stuck zippers
Must screen phone calls, maintain calendars and coordinate production of multiple homework projects
Must have ability to plan and organize social gatherings for clients of all ages and mental outlooks
Must be willing to be indispensable one minute, an embarrassment the next
Must handle assembly and product safety testing of a half million cheap, plastic toys, and battery operated devices
Must always hope for the best but be prepared for the worst
Must assume final, complete accountability for the quality of the end product
Responsibilities also include floor maintenance and janitorial work throughout the facility
POSSIBILITY FOR ADVANCEMENT & PROMOTION:
None
Your job is to remain in the same position for years, without complaining, constantly retraining and updating your skills, so that those in your charge can ultimately surpass you
PREVIOUS EXPERIENCE:
None required unfortunately
On-the-job training offered on a continually exhausting basis
WAGES AND COMPENSATION:
Get this! You pay them!
Offering frequent raises and bonuses
A balloon payment is due when they turn 18 because of the assumption that college will help them become financially independent
When you die, you give them whatever is left
The oddest thing about this reverse-salary scheme is that you actually enjoy it and wish you could only do more
BENEFITS:
While no health or dental insurance, no pension, no tuition reimbursement, no paid holidays and no stock options are offered; this job supplies limitless opportunities for personal growth, unconditional love, and free hugs and kisses for life if you play your cards right
(Courtesy: Gopi Krishna Madhavan)
Wednesday, February 27, 2008
Cost Management: Thoughts from Titan
1. The emphasis of cost management should be on rationalizing costs, not on cutting them indiscriminately. We need to question each major outflow and ask, “What returns will I get from this expenditure/ investment? Can the money be used more productively? Can the desired results be obtained at a lower cost?”
2. A greater focus on costs can be achieved by cross-functional teams (CFTs) – consisting of enthusiastic influencers. Such teams work best when the members are empowered and motivated. One way of accomplishing this is by factoring the results of cost management into participants’ Key Result Areas.
3. Demonstrate organisational commitment to cost management. For example, Titan’s Managing Director recently launched “WOW” (War on Waste) and conducts monthly progress reviews with CFTs. During the initial meetings, participants brainstormed and generated initiatives with potential to save costs. These are then discussed and the initiatives with maximum saving potential are selected. Later, responsibilities and timelines are assigned, and results are reviewed on a periodic basis.
4. Cost reduction is not ‘Finance’s baby’; it is an organisational priority. Nevertheless, Finance professionals must be involved in operations to be able to enhance cost consciousness. This can be achieved by focusing attention on costs, analyzing cost data and sharing relevant information with CFTs.
5. Accountants can also help focus attention on costs by interpreting them intelligently. Examples from Titan’s watch manufacturing plant in Hosur:
(a) The Machine Hour Rate of Precitramme equipment was high because it was not fully utilized. The fixed costs were spread over a lower number of hours. This pushed up the cost and retail price of Titan Edge (“the slimmest watch in the universe”), thus suppressing demand for the watch. After we adopted a ‘variable cost MHR’ for costing and pricing decisions, the watch became an overnight success.
(b) In-house vs outsourced decisions: Similarly, the Manufacturing team used to outsource certain watch components because the in-house manufacturing cost appeared higher. However, when one looked only at relevant costs, it made sense to utilize existing machinery to manufacture those components in-house. Our cash outflow was thus reduced.
6. Even ‘Overheads’ need to yield some benefit: Before Tanishq’s business picked up, diamond-setting capacity (a labour-intensive process) was surplus, classified as ‘employee cost’ or overheads. Hence, the cost of stone-setting was not factored into the price of jewellery. We were losing a big opportunity. Later, realizing our lapse, we rectified prices and also looked at cheaper mechanized processes. This improved our gross margins on studded jewellery significantly.
7. Constantly review your assets and, when times are good, clean up your Balance Sheet… Release cash by liquidating non-moving/ slow-moving items. Tanishq’s retail businesses achieved this by constantly reviewing its current assets. Slow-moving jewellery designs were redeployed to other Tanishq showrooms. We also had road shows, exhibitions and ‘Best Deals’ counters - wherein jewellery was sold at attractive discounts. Many of Tanishq’s promotions were a resounding success. When all else failed, we even melted jewellery!
8. Identify the core problem and explore every opportunity to solve it: Initially, Tanishq used to buy gold bullion - 80% of our material cost - on spot basis, resulting in outflow of scarce funds and exposure to price risk... In the early 2000s, Titan was a cash-strapped company. We gradually started buying gold on credit from foreign banks (lower interest, open price) and operating on the forward market. These mechanisms reduced the company’s net capital employed and interest cost, boosted Return on Capital Employed, and helped hedge the gold price risk.
9. Contrary to popular logic, paying creditors late is not good business: When Tanishq approached diamond merchants to negotiate prices, we realised that we had been short-sighted by delaying their payments. The suppliers’ interest cost (higher than ours) had been loaded onto their normal prices, based on our longest-delayed payment… By agreeing to pay suppliers in time, we got significantly lower purchase prices, which helped us to further improve our margins.
10. When Excise Duty was introduced on branded jewellery, it came as a big burden in a low-margin business. We were already at a disadvantage vis-à-vis the local jewelers. To mitigate this risk, Tanishq established a manufacturing unit in an excise free area (Uttaranchal).
11. Advertising: Some Marketing people lack business acumen but they do have an important role to perform. Tanishq faced a three-fold problem:
(a) The proportion of money spent on producing advertising was excessive, relative to mass media spends
(b) Product ranges were launched without proper cost benefit analyses and
(c) Service providers’ rates had not been adequately negotiated down.
We needed to encourage the Marketing department to spend on advertising that reaches the customer rather than on production costs.
We also used Public Relations and press releases judiciously; these are a lower-cost and more credible medium than advertising.
12. People drive businesses... But when salaries are undifferentiated, good performers have no motivation to give off their best and they will seek more remunerative opportunities. Titan faced such a situation that also resulted in a costly attrition problem. So, the company revamped salaries, paid rates closer to best-in-market and demanded superior performance. Titan also introduced a package wherein 30% of earnings (even higher for retail staff) was linked to performance. This improved morale, efficiency and output.
2. A greater focus on costs can be achieved by cross-functional teams (CFTs) – consisting of enthusiastic influencers. Such teams work best when the members are empowered and motivated. One way of accomplishing this is by factoring the results of cost management into participants’ Key Result Areas.
3. Demonstrate organisational commitment to cost management. For example, Titan’s Managing Director recently launched “WOW” (War on Waste) and conducts monthly progress reviews with CFTs. During the initial meetings, participants brainstormed and generated initiatives with potential to save costs. These are then discussed and the initiatives with maximum saving potential are selected. Later, responsibilities and timelines are assigned, and results are reviewed on a periodic basis.
4. Cost reduction is not ‘Finance’s baby’; it is an organisational priority. Nevertheless, Finance professionals must be involved in operations to be able to enhance cost consciousness. This can be achieved by focusing attention on costs, analyzing cost data and sharing relevant information with CFTs.
5. Accountants can also help focus attention on costs by interpreting them intelligently. Examples from Titan’s watch manufacturing plant in Hosur:
(a) The Machine Hour Rate of Precitramme equipment was high because it was not fully utilized. The fixed costs were spread over a lower number of hours. This pushed up the cost and retail price of Titan Edge (“the slimmest watch in the universe”), thus suppressing demand for the watch. After we adopted a ‘variable cost MHR’ for costing and pricing decisions, the watch became an overnight success.
(b) In-house vs outsourced decisions: Similarly, the Manufacturing team used to outsource certain watch components because the in-house manufacturing cost appeared higher. However, when one looked only at relevant costs, it made sense to utilize existing machinery to manufacture those components in-house. Our cash outflow was thus reduced.
6. Even ‘Overheads’ need to yield some benefit: Before Tanishq’s business picked up, diamond-setting capacity (a labour-intensive process) was surplus, classified as ‘employee cost’ or overheads. Hence, the cost of stone-setting was not factored into the price of jewellery. We were losing a big opportunity. Later, realizing our lapse, we rectified prices and also looked at cheaper mechanized processes. This improved our gross margins on studded jewellery significantly.
7. Constantly review your assets and, when times are good, clean up your Balance Sheet… Release cash by liquidating non-moving/ slow-moving items. Tanishq’s retail businesses achieved this by constantly reviewing its current assets. Slow-moving jewellery designs were redeployed to other Tanishq showrooms. We also had road shows, exhibitions and ‘Best Deals’ counters - wherein jewellery was sold at attractive discounts. Many of Tanishq’s promotions were a resounding success. When all else failed, we even melted jewellery!
8. Identify the core problem and explore every opportunity to solve it: Initially, Tanishq used to buy gold bullion - 80% of our material cost - on spot basis, resulting in outflow of scarce funds and exposure to price risk... In the early 2000s, Titan was a cash-strapped company. We gradually started buying gold on credit from foreign banks (lower interest, open price) and operating on the forward market. These mechanisms reduced the company’s net capital employed and interest cost, boosted Return on Capital Employed, and helped hedge the gold price risk.
9. Contrary to popular logic, paying creditors late is not good business: When Tanishq approached diamond merchants to negotiate prices, we realised that we had been short-sighted by delaying their payments. The suppliers’ interest cost (higher than ours) had been loaded onto their normal prices, based on our longest-delayed payment… By agreeing to pay suppliers in time, we got significantly lower purchase prices, which helped us to further improve our margins.
10. When Excise Duty was introduced on branded jewellery, it came as a big burden in a low-margin business. We were already at a disadvantage vis-à-vis the local jewelers. To mitigate this risk, Tanishq established a manufacturing unit in an excise free area (Uttaranchal).
11. Advertising: Some Marketing people lack business acumen but they do have an important role to perform. Tanishq faced a three-fold problem:
(a) The proportion of money spent on producing advertising was excessive, relative to mass media spends
(b) Product ranges were launched without proper cost benefit analyses and
(c) Service providers’ rates had not been adequately negotiated down.
We needed to encourage the Marketing department to spend on advertising that reaches the customer rather than on production costs.
We also used Public Relations and press releases judiciously; these are a lower-cost and more credible medium than advertising.
12. People drive businesses... But when salaries are undifferentiated, good performers have no motivation to give off their best and they will seek more remunerative opportunities. Titan faced such a situation that also resulted in a costly attrition problem. So, the company revamped salaries, paid rates closer to best-in-market and demanded superior performance. Titan also introduced a package wherein 30% of earnings (even higher for retail staff) was linked to performance. This improved morale, efficiency and output.
13. This was preceded by an attractive VRS package that eliminated ‘deadwood’/ redundant employees, who had been a drag on the organisation.
14. Challenge employees to justify their existence, to measure cost savings relative to their salaries. For instance, I once negotiated with a credit card ‘acquirer’ (who placed electronic data capturing machines at our stores) for a reduction of 0.10% (10 percentage points) in their commissions. This resulted in savings for Tanishq that were more than my annual earnings.
15. One radical rule introduced in Tanishq was that domestic air travel could only be on discounted tickets, which were available for nearly 50% less than normal prices. This is a small item, but it resulted in lowering costs and better planning of activities. The most significant benefit was that people became aware that such cost-saving opportunities exist.
16. For greater involvement across the organisation, invite ideas from employees and announce rewards for suggestions that are successfully implemented. When ideas and winners are recognized (intranet, public felicitation), it could motivate others to come forward.
Sunday, January 6, 2008
Learn To Love by Ralph Marston
Learn to love challenge, and you'll fill your life with accomplishment.
Learn to love effort, and your skills will grow more valuable with each passing day.
Learn to love making a difference, and doors will quickly open for you wherever you go.
Learn to love giving freely of yourself, and you'll receive more fulfillment than you ever could imagine.
Learn to love being the authentic person you are, and everything you do will be infused with integrity.
Learn to love whatever work you're doing, and that work will bring abundant rewards.
Learn to love beauty for beauty's sake, and you'll discover a wealth of it in places no one else would even think to look.
Learn to love unconditionally, and there will be no limit to what your love can accomplish.
Learn to love life just because it is, and each day will be a grand new adventure.
Learn to love the moment you're in, and you'll find richness in every direction.
Learn to love the possibilities, and you'll make your way to whatever you seek.
Learn to love no matter what, and you'll discover what a miracle you truly are.
Courtesy: Mario Motha
Learn to love effort, and your skills will grow more valuable with each passing day.
Learn to love making a difference, and doors will quickly open for you wherever you go.
Learn to love giving freely of yourself, and you'll receive more fulfillment than you ever could imagine.
Learn to love being the authentic person you are, and everything you do will be infused with integrity.
Learn to love whatever work you're doing, and that work will bring abundant rewards.
Learn to love beauty for beauty's sake, and you'll discover a wealth of it in places no one else would even think to look.
Learn to love unconditionally, and there will be no limit to what your love can accomplish.
Learn to love life just because it is, and each day will be a grand new adventure.
Learn to love the moment you're in, and you'll find richness in every direction.
Learn to love the possibilities, and you'll make your way to whatever you seek.
Learn to love no matter what, and you'll discover what a miracle you truly are.
Courtesy: Mario Motha
Saturday, December 15, 2007
When You Gotta Go, You Gotta Go
Obtaining an Employment visa to the UAE, which ought to have taken ‘three or four days’ (according to my sources in Dubai) ended up taking all of eight weeks… If that sounds like I’m grumbling - No, I’m not … I have found a new kind of peace that is helping me to ride out this situation.
The High Commission of India has taken twenty months now – and there is no end in sight. It’s amazing how much lack of responsibility and empathy exists in the corridors of bureaucracy there! As was frequently mentioned when the Indian Government refused to condemn the Myanmar junta: “India does not necessarily do what is morally right, but what is politically expedient.”
Back to my scene… Until Wednesday, I was twiddling my thumbs and waiting for the UAE visa, which – as I mentioned - took a long time coming. I used the opportunity to wrap up matters with the bloke I am writing about… He has checked all the facts and spellings and given me a carte blanche on creative work.
I have asked to be booked on the December 21st flight to Dubai – to rejoin the country’s community of migrant workers before Christmas.
The High Commission of India has taken twenty months now – and there is no end in sight. It’s amazing how much lack of responsibility and empathy exists in the corridors of bureaucracy there! As was frequently mentioned when the Indian Government refused to condemn the Myanmar junta: “India does not necessarily do what is morally right, but what is politically expedient.”
Back to my scene… Until Wednesday, I was twiddling my thumbs and waiting for the UAE visa, which – as I mentioned - took a long time coming. I used the opportunity to wrap up matters with the bloke I am writing about… He has checked all the facts and spellings and given me a carte blanche on creative work.
I have asked to be booked on the December 21st flight to Dubai – to rejoin the country’s community of migrant workers before Christmas.
Friday, December 14, 2007
Fed Up of Procedures? Go, DIE!
The process of renewing a Sri Lankan passport is simple and fast. This morning, we discovered exactly how fast - when Uncle and I decided to get the validity of his passport extended by five years. We visited the Department of Immigration and Emigration (DIE) in Punchi Borella.The approach to the offices was like a bazaar, with colourful shops and restaurants in which to while away the waiting hours. We entered the building at 11 o’clock sharp.
Having obtained a form from Jetwing Travels and filled it up at home, there was no time lost. It was a simple matter of getting a signature, paying the appropriate fees (LKR 500 for a five-year extension) and waiting for the renewed travel document.
Signboards posted all over suggested that the passport would be ready “within two hours”. The dynamic gentleman behind the counter provided us with entertainment and kept us posted on the status.
Exactly an hour after we had entered the office, we were out – with Uncle’s passport having been renewed till April 2013! Considering that this office frequently handles more than 1,000 renewal requests on a single day, the experience was like a breath of fresh air.
Go, DIE!
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