Business Strategy E-Magazine August 2021

TABLE OF CONTENTS

AUGUST 2021

Editor's Note 03

LEADERSHIP

Editor’s

Note

Celebrity of the month - Bernard

Arnault

Why You Don't Want To Lead

Zombie Apocalypse

MANAGEMENT

The Cryptic Nature Of

Crytocurrency Demystified

Managing Emotions

Dr. Neeta Pant

Re-imagining HospitalityBusiness

Under the Covid19 Onslaught

CAREER BYTE

Abhinav Sharma

TOP 8 TRENDING

ONLINE BUSINES SECTORS

to download this current issue

Dr. Vaneeta Aggarwal

05

12

37

45

53

59

Visit

INTERNATIONAL COLUMN

The Skills of the New Generation of

Leaders

Fausto Turco

New Connect ? New Leadership -

The 5Cs

Dr. Paolo Gallo

BRAND STORY

ASTRO CORNER

BUSINESS-STRATEGY.IN

18

25

68 - 89

91

We are honoured to present

the August issue of 2021.

We are maintaining our goal of

publishing learning material by

management experts, CEOs, HR

Heads and start-up owners.

This time we are segregating

content into four parts : Leadership,

Management, Career Byte

and Brand - Success Stories. The

leadership skills are explained by

Fausto Turco (Italian CEO) while

the 5Cs of new Context and new

leadership are explained by Paolo

Gallo (Former CHRO, World

Bank and Founder of a Executive

advisory firm). Dr Neeta Pant has

contributed another interesting

article on managing ones emotions

during turmoil.

I have penned an article for wan-

nabe and ongoing online business

opportunities that have caught attention

and could survive Covid19

phase.

Our staff editors have given us

stories on Bernard Arnault, Cryptocurrency

and Zombie Leadership..

We hope that you will like the

content and choice of topics in

this issue.

On the inner pages you will find

details about our latest business

start-up - Bizemag Podcast which

is keeping us engaged almost daily

with a show.

Please do subscribe our youtube

channel @Lstartegyq and Our

Podcast @Bizemag on the several

podcast channels and social media.

2 Issue 14, August2021 | CONTENTS

Issue 14, August 2021 | CONTENTS 3

Send us your articles, feedback, sponsorship query here :

Mail : Contact@business-strategy.in

CELEBRITY OF THE MONTH

Best Regards

Dr. Vaneeta Aggarwal

Founder

L’strategyq Advisors

&

Business Strategy e-magazine

BERNARD ARNAULT

Disclaimer - The Magazine producers and editors are not responsible for any views, opinions and information

provided by the writers. The content produced here is copyright of Business strategy e-magazine and

cannot be reproduced in part or full form without official approval. Any graphics depicted within the magazine

are solely for symbolic representation and are taken from stock free options.



Bernard Arnault

More than anything else, Bernard

Arnault’s story embraces

contradictions: He is one of the

most successful businessmen on

the planet, but he has given away

billions to charity. At the same

time, he maintains a unique lifestyle:

he owns a $24 million yacht,

which collects dust on the Mediterranean

every year; he flies first

class; and vacations in a helicopter.

At the same time, he goes shirtless

on the runway in Paris and shows

off his toned body on the catwalk

at Versace fashion shows.

The biography of Bernard Arnault

is similar to that of the legendary

Louis XIV of France and many

other wealthy and powerful men

of his time. This is because, like

all men of his class, Bernard was

a ruthless businessman that lived

his life in the pursuit of power.

Many details and facts of this story

will be fascinating, and several

will find them disturbing.

Bernard Arnault’s Childhood

and study life

Bernard Arnault was born in Paris

in 1885, in one of the most impoverished

areas of the city, right

outside the famous Trocadero. He

was one of seven children of Edmond

Arnault, a manufacturer.

The family lived on land that had

belonged to his family since the

18th century. It was a quiet, simple

life. His father worked long hours,

and all seven of the children had to

help out, with Bernard working in

the factory after school. They lived

in a small, two-room flat above the

family shop.

Bernard’s early childhood was

difficult. He suffered from rickets

and had difficulties learning how

to walk. He had a complicated relationship

with his father. The

premature death of his father,

followed by the loss of his mother

when he was still a child, made

Bernard introverted and reserved.

His mother’s loss and early childhood

in a poor rural environment

shaped him into a cynic. Soon after

his father’s death, his uncle

paid for his training in the textile

industry. Arnault entered the textile

trade in 1906 and was promoted

several times. In 1919 he married

Mlle. Dollfus, a modest employee

in the production department of

an engineering firm.

Arnault is a graduate of the Ecole

Nationale d’Art Moderne, an institution

famous for creating

avant-garde French clothing at

the end of the twentieth century.

He came to France at the age of

eleven. He spent his entire working

life in Paris, going to school at

the Ecole Nationale Supérieur des

Arts and Crafts, one of the world’s

oldest and most prestigious fashion

design programs.

From Rag to the Riches

Bernard Arnault is a French business

executive and billionaire. He

is the Chairman and Chief Executive

Officer of LVMH Moet Hennessy

Louis Vuitton SE, the world’s

largest luxury goods company.

He also heads Bernard Arnault

and family investment company,

Groupe Arnault. The Arnault’s

own and operate more than 300

stores, 100 percent owned and operated

by third-party franchisees.

Over the past three decades,

LVMH’s revenues have risen sevenfold,

and the company has dominated

the high-end consumer

goods market. It sells everything

from fragrances to handbags,

wines, and watches, with sales of

more than $48 billion. LVMH accounts

for nearly half of France’s

export revenue, while the bulk of

its clients are wealthy international

consumers.

Today, LVMH owns multiple million-dollar

works of art, including



The Piazza Fontana, The Metropolitan

Museum of Art, The Louvre,

and the Van Gogh Museum.

LVMH is currently planning a

$1 billion expansion of the Paris

headquarters.

Founder of Loreal

The founder and Chairman of

L’Oreal, the world’s second-largest

beauty and hair products company,

Bernard Arnault, broke into

the world of business at the tender

age of 13 when his father, the artist

Alphonse Arnault, commissioned

his design for the first Editions du

Parfum factory. It was a business

that made its name manufacturing

treatments—Eyelash extensions

and mascara, among other

things—for wealthy clients in

France. By 16, Arnault graduated

as chief executive officer and was

running the L’Oreal-Parfums division

when he decided to take on

other passions beyond his father’s

specialty, such as building boats

for charter fishing trips turning

sand into sandcastles.

Bernard’s Love for Art

In the late 1980s, a young Arnault

made his mark in the world of art.

At the time, his family was beginning

their first income-producing

project, a massive remodeling of

Paris’s monumental Chateau de

Versailles. Armed with $6,000,000

in his savings account, he soon began

buying works of art directly

from the Louvre. In 1993, just a year

after the controversial opening

of the Chateau, Groupe Arnault

bought the Picasso “Girl with a Diamond

Earring” for $43.5 million,

the most significant art sale ever at

the time. The Arnaults then spent

much of the next several years expanding

their holdings of art and

furniture. By 1996, the group had

amassed an untouchable amount

of art, including Monet, Van Gogh,

Gauguin, Cezanne, etc.

The Forbes List

In 2007, Bernard Arnault of France

was ranked the ninth richest person

globally with a fortune of $53

billion. He was worth a quarter of

a trillion dollars in 2001. Forbes

magazine, which had described

him as “richest Frenchman in the

world,” called him “almost the

poor man’s Bill Gates” and “the

biggest retailer of luxury goods

on the planet.” The business mogul

was best known in France for

the construction of luxury department

stores and the owner of highend

companies such as Christian

Dior, Fnac, Net-a-Porter, and a

seat on the board of Carrefour, the

world’s largest retailer. What is not

well known is that the fortunes of

the Luxembourgian Arnault family

and its global enterprises are

a fairy tale, a little like a fable or

folklore.

The Philanthropy

Arnault is the third richest person

in France, with an estimated fortune

of $70 billion. According to

Forbes, in 2011, he gave away about

$4 billion to the world’s most deserving

causes. He has funded humanitarian

organizations in several

countries in Africa and Asia;

recently, he sent trucks filled with

humanitarian supplies to Nigeria.

When he announced this year

that he had made a $750 million

donation to restore the decimated

Egyptian pyramids, he did not

mention the restoration’s goal:

to send some of Egypt’s youth to

college. A tremendous gift from a

prominent businessman could not

possibly be more controversial.

To prove that point, he was soon

featured on the front page of The

New York Times for seeking to fix

a property dispute in South Africa.

LVMH pursues an innovative and

ambitious corporate philanthropy

policy in support of the arts and

culture, as well as medical, scien-



tific and humanitarian causes.

Active Supporter of the Far

Right

Perhaps it is no surprise that the

French intellectual historians

Fernand Braudel and Gerard Dejean

have written books critical of

him. Arnault and his close associate

Dominique Strauss-Kahn owe

their political views to a professor

at the prestigious HEC business

school, Raymond Barre. When

Barre came out in favor of Charles

de Gaulle, he became a symbol

of right-wing civil society and the

“new bourgeoisie.” This was also

the period of post-war European

capitalism, as the French state

withdrew from the economy.

In 1982, on the verge of retiring,

Barre called upon his pupils to

form a political organization.

The group’s purpose was to resist

the new wave of “populism” that

was sweeping France. The group

turned out to be more than the

sum of its parts.

By Staff Writer



LEADERSHIP LESSONS

Why You Don’t Want

To Lead The

Zombie Apocalypse

A

re you surprised that if the

Dead King has sprung forth

into life from the pages of George

RR Martin’s Game of Thrones. N o,

we are also not suggesting that

the winter is looking for a new

leader after their defeat. Change

is something that attracts a lot of

and sometimes strong views and

opinions. But Heraclitus quite

rightly deduced that everything

is in a state of constant flux.

Change means Challenge. And

challenges are best tackled by

people ready to rise to the occasion.

People who are emphatic,

know and practice innovation

are best equipped in this continuously

changing world- not the

zombies.

Zombies Always Need Instructions

Change begins with commitment.

It is not correct to assume

that followers merely need to do

as the leader says. It is essential

that followers feel empowered

and have the necessary resources

to carry out tasks independently

for actual progress. Followers

who need to be continually

told what to do naturally tend to

rely more on leaders than themselves.

Further, they expect only

a minimum amount of accountability

on their part. It is always

better for the leader to forge solid

and aware relationships with

followers. Followers and leaders

both need to be well-acquainted



with each other’s strong points

and failings. Taking such action

will ensure that the followers

evolve out of zombie mode and

fill in the leader’s skills or tasks.

During change, leaders must ensure

the future value or how the

follower might potentially benefit

from the change. It will foster

trust and motivation and, more

importantly, committed independent

thought and action.

Zombies Are More Likely To

Be Fearful And Stressed

The regulation of emotions is

one of the foremost workplace

challenges both during static

and dynamic phases of the

evolution of an organization.

Change happens to be one of

the leading reasons behind negative

emotions at the workplace.

Zombies are wary of change and

feel isolated and stressed by the

same. This weariness towards

change is more often than not

due to the uncertainties associated

with it. Isolation is the natural

result of not engaging followers

actively in change. And

the transformation itself might

elicit stress due to various psychological,

physical, and mental

responses to change. And

all together constitute to one

thing only-resistance.The zombies

would rather stay dead! Accordingly,

effective change leadership

is critical. People with

more excellent EQ are better

equipped to deal with change

due to enhanced self-regulation,

awareness, and empathy. It is an

issue a leader definitely wants

to address in himself. Self-regulation

will allow leaders to elicit

positive responses from followers.

Self-awareness will enlighten

them on their effect on the

follower, and empathy will help

greater understanding and sympathy

for the follower and their

position. Leaders with the ability

to manipulate follower emotions

can fend off the zombies



better.

Zombies Don’t Innovate

Today, no organization can afford

to stay stagnant. Constant

change, both in thought and action,

is the order of the day. To

thrive in such a condition, organizations

must foster a culture

of innovation. Now, innovation

is something the zombies cannot

accomplish with panache.

Such innovation has two aspects-

coming up with innovative

ideas and implementing the

same ideas. Small incremental

changes are what you want

rather than transform Beijing

into London if that is required.

As previously noted, creativity

is the striking feature of a zombie.

Thus, they tend to become

inflexible, and naturally, originality

is something they frown

upon. One essential step a leader

must take to prevent the zombie

mindset from taking over the organization

member’s minds is to

facilitate communication. Ours

is not the age of hierarchical decorum.

Get followers involved

and spread decision-making to

other personnel, departments,

and their teams. Creativity is a

rare trait, and leaders must do

their best to nourish it within

an organization. Encourage dynamism

and a sense of purpose.

Encourage feeling that they belong

to the same group. Give followers

responsibility and keep

them updated with the new ideas

doing the rounds in your organization.

The success or the lack of it in

an organization and its objectives

is significantly influenced

by its leadership. Change does

not change, and adapting to

changes at the leadership level

is a significant challenge too. To

truly thrive in the constant flux,

leaders need to step into their

followers’ shoes, even if they are

zombies, and try to bring them

back from the dead. There are

plenty of challenges that change

brings with itself, and intelligent

and creative followers only help

By Staff Writer

INTERNATIONAL

COLUMN



The skills

Of the

new generation of leaders

BY : FAUSTO TURCO

ease the process of evolving with

change.

First of all: don’t focus too much

on knowing how to do one thing,

rather on how you know how to

do something, much more important.

Difference: if you win the 100m

at the Olympics, and then get

caught for doping, your efforts

will have been in vain, and they

will leave you alone. But if you

win the 100m final at the Olympics

as Usain Bolt, with his smile,

his hugs, his way of being loved

by his colleagues, then the story

changes and you will be destined

to stay!

When you go to a restaurant and

want to make a good impression

with friends, with your wife

or girlfriend, do you give more

importance to the menu or the

experience you will have? Will

you remember that amazing fillet,

that expensive bottle, or the

experience that the waiters and

restaurant managers will give

you? We are talking about people

who give you all their attention

to make you feel better, so,

when the high bill comes, your

attitude will change profoundly

based on how you have spent

your hours in that restaurant.

So why shouldn’t a leader think,

educate, build the same experiences

within their organization?

Why don’t you pay the same attention

to your people, in the exact

same way as you would like

at the restaurant?

Why must the Leader’s attitude

be different?

Getting to have Hard Skills (or

Technical Skills) is clearly not

trivial: not everyone manages to

get there, not everyone has the

opportunity to get there. Technical

skills are important and,

at times, basic to achieve in the

world of work: it takes time, sacrifices

and sacrifices. But they

will only take you up to a certain

point; you will certainly climb

important positions and roles,

but it will always be a run-up to



something you don’t have.

When you enter the world of

work you have to find every

day the curiosity that made you

choose those studies, the heart,

the mind and not just strength.

Have you ever asked a Leader

what soft skills are?

Ask for 5 of them and notice how

long it takes to answer. After

collecting the answers, you can

make a list and find the applicants

(who are currently trending

topics on social media and in

events). I found these:

• Collaboration

• Emotional Intelligence People

Centric

• Teamwork

• Problem Solving

• Communication

• Listening

• Curiosity

• Strategically Networking

• Storytelling

• Cultural Awareness

• Leadership Skills

all very valid, but these are values

.

These are also essential values

in life, with friends, with family,

which make the difference if

established in the corporate culture.

But, you will agree with me, we

all know that values are the expression

and example of our be-

But then, Fausto, why did you

write this article?

Because I want to focus on another

group of soft skills and

non-technical skills that a leader

must have spontaneously.

Attitudes

They make a difference, they

bring the truth out of people.

• Trust

• Delegation

• Empathy

• Dealing with Disagreements

• Creativity

• Build psychological security

• Persuasion

• Have difficult conversations “

• Adaptability

Surely these are excellent and

haviours, of our attitudes. For example:

we talk a lot about trust,

in these important moments,

and I am convinced that it is one

of the fundamental soft skills,

but how do we get it? Here we

return to my premise: it is important

how you do something,

how you behave. You win trust

step by step, day after day, with

your behaviour.

They never lie. You cannot behave

one way when you are in

the office and differently when

you are out of the office: then

you are built and maybe you are

not even comfortable. Behaviours

reflect who we are.

What are the attitudes, behaviours

and gestures that make a

new and true leader?



1. Do not command: Give directions

and instructions based

on your skills, but explain why

you would do so. If you are

really convinced that you are

giving those indications, also

explain what the weak aspects

of your decision might be: “I

believe that to do this, you

have to do this, but you may

be faced with these reactions

or this unexpected result. If

that happens, then do so. “ Always

present a plan B to your

directions

2. Do not react by listening to only

one voice: if you get an email

criticizing your team’s activities,

deal with it immediately,

but without attacking. Ask

your employees about the genesis

first, and if you find any

flaws, ask your client for understanding,

and explain your

weaknesses, reassuring him

that you will do your best to

fix them. Ask your team how

to fix it and help them find

the solution, if possible, and

rebuild the error with them to

see the wrong steps, to avoid

another similar error.

3. Smile when you enter the office:

that moment can affect

the work of others for the rest

of the day. Difficult? Are you

bluffing? For 5 minutes think

about the others, and say hello

to everyone if you can. It

doesn’t seem like a big effort,

and it’s still about education!

4. Thanks whenever possible: A

leader always takes the time

to recognize the work of his

team, even publicly, internally

and when he deserves it

also on social networks

5. Look people in the eye, always:

when you are speaking for a

joke, when you are arguing

for an idea, when you are at

odds over a thought or activity,

when you are giving negative

feedback or even when

you thank a person, look into

their eyes, otherwise they

are not sincere your thanks.

Look people in the eye when

they ask to talk to you, it really

shows that you are giving

them time, it’s not a chore!

6. Stay more often in the middle

of the offices, go to see people

while they work, without

the look of a train conductor.

If you are in a large organization,

and it is impossible

for you to reach everyone,

do it systematically and periodically.

Spend some time in

the midst of daily activities,

with the curiosity of wanting

to know what is happening,

let them tell you some difficulties,

anecdote, but without

the checker’s gaze or the gendarme

uniform!

7. Take responsibility and admit

your mistakes. Leaders are also

wrong and wrong more than

others, because they have to

make many more decisions,

and with more people. Budget

it wrong, never get defensive,

and ask for help so people can

help you when you’re in trouble.

8. You must have courage: in one

of his famous phrases Arnold

H. Glasow said that

“A good leader takes a little more of

his share of the blame, a little less

than his share of credit” There is no

worse thing for one of your team

members to take the blame for an

unfortunate and sometimes ambiguous

situation or outcome”.



9. Be generous: When you want to

do something for another person,

when you want to help a

collaborator in need, or when

you just want to help someone

because you like them, do it

without thinking about what

you will get in return tomorrow.

My father always told me

“when you decide to help a person,

do it in silence and move, do

not expect anything, otherwise

your behaviour is only of interest,

it is not generosity”

10. Live with self-irony: Everyone

has flaws or faux pas: even

make fun of your weaknesses.

This does not make you weaker,

but more real and human.

AUTHOR:

FAUSTO TURCO

CEO of Si-Net, President of

Accademia dei Commercialisti,

Personal Leadership &

Organizational Culture Masterclass

presso WOBI

NEW CONTEXT ? NEW LEADERSHIP

THE 5CS

By PAOLO GALLO



Looks like we are taking for

granted that we will find a

new normal when Covid19 is finally

over, if and when we ever

get there. But this idea of a “New

Normal” is not actually new. According

to Wikipedia, “New Normal

is a term in business and

economics that refers to financial

conditions following the financial

crisis of 2007-2008, the

aftermath of the 2008–2012 global

recession, and the COVID-19

pandemic.” From a psychological

standpoint, we understand

why this term has been accepted

and used globally. It is about the

legitimate need that each of us

is feeling in our bones. We desperately

desire to return to some

kind of normality, after accepting

months of total disruption in our

personal and professional lives,

not to mention the pain of the

thousands who died and the millions

who got Covid19.

Let’s pause for a second by reflecting

on the definition of “normal.”

“Normal: conforming to a type,

standard or regular pattern.” “Average,

predictable, ordinary.”

But my favorite definition of normal

is “what people expect”.

Can we then really assume that

the new normal is up for grabs,

just around the corner, and that

we will simply move to a place

where we once again come to

know what to expect?

In this article I suggest re-naming

“new normal” - which is simply

delusional and unrealistic - to

something very different.

I believe that we now have five elements,

or ingredients, which are

constantly present in our lives. I

call them the 5Cs.

1. The first one is Chaos, which

is the perfect storm of speed and

uncertainty combined. The peculiarity

of this moment is that

speed is not linear, but exponential,

and it is mainly driven by

technological changes. Do you remember

the prophecy of Gordon

Moore, Founder of Intel Group?

“The performance of Computers

doubles every 18 months.” If we

add the geopolitical changes and

the social unrest we’re seeing today,

we can understand Kaos, a

Greek term.

2. The second C is Crisis, and

it also comes from the Greek. A

crisis is a difficult or dangerous

time in which a solution is needed

- and fast. It is a term derived

from medicine that implies the

need to move quickly with a clear

decision. We know that a half

decision means a squared mess,

and that Crisis does not build

character, but rather reveals it.

If we leave inept and unfit Leaders

at the head of a company or a

country during a crisis, their true

colours will be revealed clearly,

a sort of acid test of their leadership.

3. The third C is Complexity.

We are used to framing problems

as merely “complicated.” A complicated

problem requires technical

expertise with a disciplinary

focus. But the magnitude of

the problems we are facing today

force us to de-code complexity

by constant learning, adapting,

sense-making and leveraging interdisciplinary

as a norm. Complexity

requires trust and cooperation

to solve problems along

with the authority to impose

someone’s views upon others.

4. The fourth C is Confusion

or - if you prefer - Ambiguity.

Nothing is going to be a ‘clear

cut’, easily distinguishable from

a distance. Ambiguity means that

concepts, ideas, situations have

different meanings for different

people, hence the need to reconcile

these differences by including

everyone in the conversation.

5. The last one, Change - actually

let me scale that up to Constant

Change. Do you remember

the book Who Moved my Cheese

by Spencer Johnson? It’s more

than 20 years old but still very

helpful to internalize the fact that

change is not the exception but

the constant in our lives. We were

all amazed to see our capacity

to adapt so rapidly during Covid19

for example when we started

working from home. Ironically

the only normal, stable component

in our lives is going to be

constant change.

The Sum of these 5Cs - Chaos,

Crisis, Complexity, Confusion

& Change is going to create a

New Context, not a new normal.



If we accept the New Context as

part of our future, we will see opportunities

and learn new perspectives

and insights that will

allow us to reset the system. The

new context is about Transformation

not change. The difference

between these two terms is

substantial. Change means that

the situation is changed; Transformation

means that we are different

and there is no going back.

Like a caterpillar that has become

a butterfly. If we internalize that

we are in a middle of an historical

transformation we will not be

able to call it a “new normal,” as if

“predictable” and “ordinary” are

waiting for us around the corner.

Once we accept the new context

and Transformation, we will be

able to reset the system. But wait

a second: before we fall in love

with the concept of “reset” or

even “great reset,” we need to ask

ourselves: who is going to push

the reset button? The current system

has failed most of the people

on this planet: think about the

1.3 billion surviving on less than

two dollars a day; the people left

behind, excluded from jobs and

dignity; the cruel discrimination

against African Americans,

women, minorities and religious

groups. We cannot allow the very

same people who set up the current

system to their political and

economic advantage to reset it, as

if they still had the credibility to

do so. They don’t. Many lost that

credibility a long time ago, possibly

because some “Leaders” still

confuse the terms credibility with

visibility on social media. It’s not

the same thing. But it’s not about

burning cars or destroying statues

with iconoclastic fervor either.

Ancient Romans used slaves

too but we are not going to tear

down the Coliseum, are we? Instead

it’s about learning from the

many tragic mistakes of human

kind and investing in education

and heath, two fundamental human

rights; embracing diversity

as a fantastic opportunity; understanding

that saving the planet

is not just a hobby for a 16-yearold

girl called Greta but an emergency

that deserves our attention

and all the resources we can muster

to solve; realizing that the 70.8

million people forcibly displaced

people in the world need protection,

respect and support. If we

think about the New Context, it

allows us to reset the system - the

true opportunity of a lifetime – to

create shared prosperity for all by

reflecting on a simple question:

What do we stand for?

New Leadership: the 5CS

The point is, the current Leadership

model has failed us; it has

forgotten 99% of the people on

the planet. No Justice, No Peace,

as Bob Marley used to sing. The

list of disappointments is so long

that it will fill many volumes. If

you think that Leadership is an

empty word or just a topic to debate

in academia, think twice.

The colossal difference between

the Leadership displayed to fight

Covid19 from Donald Trump

in the US and Jair Bolsonaro in

Brazil vs New Zealand’s Prime

Minister Jacinda Ardern is almost

embarrassing. The price

tag: thousands of lives gone due

to ineptitude, indifference and

false priorities. If we focus on the

corporate world, it is even worse.

If you read Jeffrey’s Pfeffer book,

“Dying for a Paycheck,” you will

find overwhelming evidence of

how toxic organizations, psychopathic

leaders and cruel working

conditions are literally killing

people.

So, if we are truly in the middle of

a Transformation, what kind of

leadership does the world need? I

do not wish to convey a few plausible

and agreeable points such

as, “We need good leaders with

strong communication skills,” or

“More diversity would be helpful.”

The time to be politically



correct without any accountability

is over. I propose 5 key behaviours

and characters that will

define the Leaders of the Future.

The 5Cs to deal with the New

Context, created by the 5Cs.

Care: “Nobody cares how much

you know, until they know how

much you care,” said Theodore

Roosevelt. He was right. But

somehow conventional thinking

has defined care as equal to weak.

Nothing could be further from

the truth. Caring about people

does not mean showing weakness

but rather demonstrating

empathy and compassion by taking

concrete actions. The Covid19

crisis has revealed the true colours

of organizations. Some have

demonstrated true caring. Take

for example the “Back on Track”

program at Ferrari. It started as

an initiative to reopen the factory

in a safe and healthy manner for

staff. But from there the concept

developed into a full-blown strategic

program with a call to action

to all stakeholders involved,

and with a mantra valid for the

next 18 months: to ensure the safest

possible working conditions,

the best operative and qualitative

checks, and to monitor emotional

wellbeing – true team work. This

participative program involves all

employees at all levels, strengthening

even further members’

sense of belonging.

Ferrari learnt in early January

2020 from colleagues in Asia and

Ferrari Greater China offices of

the potential impact and disruption

of Covid-19. Well before any

government action, the team anticipated

the need to face the crisis

by working with experts, health

professionals, virus experts, and

regional authorities in drawing

up a detailed plan of action. This

physically allowed Ferrari to reopen

as soon as the region gave

the green light. More importantly,

this enabled the company to

provide emotional support to all

staff, their families and partners

in the eco-system they share by

combining the capacity to anticipate

and the agility to quickly react

with substance and structure.

That’s how “Back on Track” was

implemented.

Self-care is an essential component

of Leadership. It’s about

maintaining the physical energy,

mental focus, and emotional

and spiritual balance that allows

people to be at their best in order

to give their best. If you are sleep

deprived, your cognitive skills are

severely reduced; so the need to

self-care is a necessary condition

to be a credible and focused leader.

Cause : Cause and sense of purpose

is the second essential trait

of Leadership. Why are we doing

what we are doing? We are purpose

seekers and people need

to be connected with purpose.

A true leader is able to motivate

missionaries (people who have a

notion deep inside) not mercenaries

(people who have personal

gain as their only goal). Losing

the sense of purpose is like losing

your Compass: you may keep on

going but you’ve lost the sense of

direction. I learned this when I

was working for the World Bank,

for example in the tragedy of the

earthquake struck that Haiti.

People found an immediate connection

with their purpose and

gave their best to help by achieving

results that were considered

impossible just few weeks earlier.

We have seen the same when



field hospitals were built to cope

with huge influx of Covid19 patients

in few weeks rather than in

few years. How is it possible? It’s

a sense of purpose, a cause that

is entrenched in our mind and

souls.

Connecting & Collaborating :

There are several lessons we have

learned during the Covid19 crisis.

One is that the magnitude of the

problem requires the capacity to

“connect the dots” and to collaborate

with many stakeholders.

We can apply the same principle

when we think about Climate

Change of other systemic problems

such as unemployment.

What do we mean by connecting?

The capacity to have a systemic

approach to problem solving, to

understand how one problem is

closely correlated to the solution

– or the aggravation – of another

one. If for example we raise

the retirement age, we create an

effect on pensions and youth employment.

Let’s consider another important

point: problems are not only complicated

but are also complex. A

complicated problem demands

technical expertise with a disciplinary

focus. The traditional hierarchical

structure is able to deal

with this kind of problem, as the

chain of command is adequate

to give an efficient response. But

problems today are also complex,

not only complicated. Solving

complex problems requires three

important factors: 1) platform

and networks rather than rigid

structures; 2) constant learning,

flexibility and adaptation rather

than rigid roles; and 3) full collaboration

between people and

institutions. So collaboration is

not just a nice bullet point on a

job description but one of the

most important behaviours that

new Leaders need to demonstrate

every day.

Creativity : Given the 5Cs of Chaos,

Crisis, Complexity, Confusion

and Change, new Leaders cannot

rely only on updated operating

systems, KPIs and procedures.

They need creativity, the capacity

to find innovative solutions to

complex problems. It is not about

inventing new products and services

every day; it’s about having

a mindset and a creative process.

One example of mindset: using

knowledge and experience in

one discipline and bringing it to

a different one. This is what Steve



Jobs did when he fell in love with

Andy Warhol’s painting of the

portrait of John Lennon. He used

the same multicolor panel for

the first Apple products. Truth

be told, Apple was not the first

company to use unconventional

colours for its products. Olivetti

started in the ‘70s with a revolutionary

typewriter called Valentina.

This machine was available

in several bright colours, such a

revolutionary approach that one

is now on display in the design

museum in London.

Courage : Courage means remembering

what we stand for.

Too many leaders choose what is

convenient; they say or do what

people expect by telling them

what they want to hear. Politically

it is called populism; in corporate

terms it is a clear sign of

mediocrity, as if Leadership were

a beauty context. The problem

with this approach is confusing

visibility and popularity with

credibility and substance. We see

this all the time: companies that

measure their success based on

the number of Facebook or instagram

followers, as if there were

teenagers with hormonal problems.

Courage is a different story.

It is the capacity to do what is

right even when it is nog yet en

vogue. Take for example what is

happening right now following

the #meetoo and #blacklivesmatters

movements. How many companies

have actually appointed

qualified woman or African

Americans in Leadership roles?

Sure, it is easier to produce an elegant

video and post it on Facebook:

two million views are more

important than substance, right?

The courage of conviction is a different

game: when you see it, you

will see a leader. If not, you see a

clown. Or at best a well-dressed

fake act that, in fairness, could

also be entertaining.

Chaos, Crisis, Complexity, Confusion

and Change – the 5Cs are

generating a New Context that

opens up new possibilities, as

we are dealing with a historical

transformation. This transformation

will be possible only with a

new Leadership permeated with

Care, Cause, Collaboration, Creativity

and Courage, the 5Cs. Our

journey as Leaders and people

AUTHOR:

will be successful only if we are

equipped with a Radar, to understand

the big picture unfolding in

front of us at exponential speed,

and a Compass, that will give a

sense of direction in our journey.

Our capacity to create and shape

a better future for the next generation

starts here.

PAOLO GALLO

Paolo is Founder of Compass Consulting, Author,

Executive Coach & former HR Director at World

Economic Forum, European Bank and World

Bank.

http://www.paologallo.net



The Cryptic Nature

Of

Cryptocurrency Demystified

By Aniket Aggarwal



Cryptocurrency occupies a

unique place in the history

of the evolution of the digital

world. Some have hailed it as

money- how it will be a few years

or decades down the line. Others

have compared the volatile

nature of its value as a 440-Volt

danger sign. The natural thought

that emerges in the minds of netizens

yet to be acquainted with

cryptocurrency; is which line of

thinking do they follow?

For people worldwide where

cryptocurrency are legal, the

more significant conundrum is

whether they should try to invest

in the same.

There is no dearth of opinion,

analysis, and strategies regarding

cryptocurrency. And while the

tech behind it is indeed complicated,

it stands out by its accessibility,

making the opinions and

strategies surrounding it easily

accessible. Almost everyone can

understand it, unlike many other

investment options. This accessibility

is the primary reason behind

the runaway popularity of

cryptos, as people usually refer

to them. Additionally, the “fear

of missing out” factor makes the

topic so dynamic and familiar.

It has found its way into mainstream

media and everyday conversations.

If lack of information

left you mumbling in one such recent

conversation, going through

this article will set things right.

It will give an insight into why

cryptos are becoming a popular

investment option.

What is Cryptocurrency?

This article is not in any way a

technical exploration of cryptos

but a beginner’s guide. Accordingly,

we will follow the keep it

simple rule.

• In its very essence, cryptocurrency

is digital money. And it

is digital in its very literal sense

as there are no physical notes

or bills or coins. And yes, the

coin part of Bitcoin is plain figurative

use.

• Absence of Physical Assets and

Volatility

• Another distinguishing feature

of cryptocurrency is that

they do not represent physical

assets of value. And this is the

very fact that makes cryptos so

volatile.

Just consider the following stats:

In 2019 July, the price of Bitcoin

fell by a significant 5% (USD 530)

in the course of just forty minutes

on an otherwise sedentary

or flat day. You and I and cryptocurrency

experts are on the same

page when answering why that

happened; there is simply no accurate

answer.

Then again, last February, the

price of one Bitcoin soared to an

all-time high of $50,000. In this

case, also the whys’ and hows’ remain

uncertain.

Physical assets like bonds, stocks,

property, art, precious metals,

and gems have a use. They are

valuable in the actual physical

world. In contrast, cryptos don’t

have any such value.

The Gold Analogy

One analogy that some crypto

experts use to explain them is to

compare them with gold. They

would not be unlike each other

if it were not because gold can

be used for several purposes like

use in jewellery and electronics

other than simply currency. The

supply is limited, but it has use

and value beyond it.

On the other hand, cryptos cost

you money solely because someone

else has it and won’t part

with it without money.

Drawbacks of Physical Currencies

Due to their inherent nature,

physical currencies suffer from

two primary drawbacks:

• There must be a central institution

responsible for regulating

the currency’s production, value,

and authenticity.

• It is vulnerable to counterfeiting.

Bitcoin As A Currency Without

Regulated Authorities

These are the exact flaws that

Bitcoin, one of the first and most

popular cryptos, was designed to

address. It is achieved through

the innovative block chain system

in sync with high-level encryption.



The automated nature of Bitcoin

and the high levels of encryption

makes it possible to do without

any central regulating authority.

It need not and CAN’T be regulated,

and there is no possibility of

fraudulent transactions through

the Bitcoin system.

The Tech Behind Cryptocurrency

For an adequate understanding

of cryptocurrency, it is necessary

to understand the basic concepts

of the following systems and tech:

• Cryptography

Cryptography refers to the use

of technology to ensure the confidentiality

of information. What

it essentially does is hide and reveal

the relevant information securely

and privately. Cryptos use

this tech to ensure the safety and

anonymity of transactions.

• Block chain

Any person even remotely connected

with tech must have heard

or read about the mention of

Block chain. Essentially a block

chain is a variant of the implementation

of DLT or Distributed

Ledger Technology. DLT refers

to a database that spreads over

several operators. Again, such

operators themselves can come

in many shapes, like computing

devices and nodes. Block chains

are the very backbone of cryp-

tos. It performs the function of a

ledger that records and ensures

that accounts, transactions, and

balances are accurate and verified.

Besides cryptocurrency, the concept

of block chains has revolutionized

fields like:

• Tracking ownership of artistic

works

• Supply chain management

• Digital collectibles

• Node

Though node is essentially a

part of the block chain system in

the crypto world, it an indispensable

part of the same and deserves

individual attention. It is

the building block of the block

chain data structure. Nodes are

what make a block chain possible.

No nodes, no block chain.

The three tech mentioned

above and concepts make it

possible to perform critical financial

processes like creating

coins, ensuring transactions

are legitimate, and making the

whole system safe and secure.

• De-centralization

In the crypto world, when we

are talking about decentralization,

it refers to the fact that

there is no single authoritative

system in such systems. On the

contrary, such power is distrib-



uted amongst all network peers.

Hence, there are no single points

that are vulnerable to failure.

In terms of theory, a hacker would

need to hack a whopping 51% of

all large nodes which power the

currency. It is something of an

impossibility for a sizeable block

chain-based cryptocurrency like

Bitcoin.

• P2P

Don’t be intimidated by the acronyms.

We are simply talking

about the peer-to-peer concept.

Two individual people can transact

without the need of a third

party having to act as a broker.

However, one still needs to fund

pay for the network. Still, thanks

to its design, the processing fees

are negligibly low compared to

current payment services like

banks, PayPal, or Zelle.

The Two Types of Cryptocurrency

There are two distinct variants of

cryptocurrency, which are coins

and tokens. Let’s discuss them a

bit more deeply:

• Coins

You can only buy coins and not

tokens. Coins are a distinct cryptocurrency

equipped with their

own block chain systems like

Ethereum, Bitcoin, Ripple, and

Litecoin.

• Token

Tokens, on the other hand, make

use of block chain systems of other

coins. We need to elaborate a

bit further on tokens.

Tokens, like the name suggests,

are representative assets or utilities.

Such tokens are unique to

projects and are the first public

sale of the relevant project

termed ICO or an Initial Coin Offering.

Its stock market counterpart

would be Initial Public Offering.

Note: A word of warning-there

is plenty of fraudulent ICO’s out

there, and many international

governments are trying to keep

track of the same.

Another thing to know is that tokens

come in two variants- security

and utility as discussed below:

Utility tokens- They allow you

to buy purchase products or avail

services from a specific platform

or company issuing them.

Security tokens- A security token

is a digitized form of financial

security. It represents a share

of an actual value of a business.

As might be expected from a form

of financial security tokens have

the following benefits:

• Pay off dividends.

• Pay interest.

• Share profits

• Invest in other assets, including

tokens.

However, to be accepted as a security

token, digital assets need

to fulfil three criteria:

• Monetary investment.

• The total funds raised must

go to a single individual business.

• Investors expect income

from the third party’s work.

There are several international

legal compliances that security

tokens must abide by.

Should One Invest in Cryptocurrency?

The buying and selling of cryp-



tocurrency are not legal in all

countries. In the nations where it

is legal to buy and sell them, they

are undoubtedly hot property.

Their price volatility is the exact

reason behind their attraction. It

is the modern gold of a treasure

hunt. Trading in cryptocurrency

in the short term can too be profitable

enough to blossom into a

profession. For those thinking of

short-term investment options

investing small amounts through

cryptocurrency trading bots

might be worth exploring.

Managing Emotions

By : Dr. NEETA PANT



We all experience different

emotions everyday. We

have also felt these emotions controlling

us. We have acted impulsively,

only to regret it later or felt

disconnected with our emotions

and numb emotionally. These all

can be indicators that we need to

work on our emotional balance.

To understand this better, we need

to gain insight into how emotions

work and learn strategies to manage

overwhelming feelings, especially

during turbulent times.

Difficult situations derail us. It is

in the difficult situations that we

want to get off the “emotional rollercoaster”,

even out our extreme

mood swings and bring some

emotional balance.

Emotions are inevitable – we constantly

feel a range of emotions in

life all the time. Plethora of emotions

like stress, fatigue, sadness,

anger, anxiety is what makes us

human. Emotions make us who

we are, and are not generally spoken

of, but impact the overall

quality of our life, our whole being.

How we handle the emotions

differentiates us from each other.

They also play a crucial role in decision

making. While there are

lot of rational thoughts, our decisions

unconsciously come from

our feelings.

Emotions are a fool-proof guidance

system. Through evolution,

humans have been designed to

feel emotions. Every single emotion

gives us a message, allows us

to move forward in life. If I am

feeling angry, it is a huge message

for me that something is not right.

If I am feeling fear, I know there

is some part of me that is feeling

threatened at the moment. If I am

content, it’s a clear indication that

I am at peace at the moment. If I

am feeling joy, then I know that I’m

aligned with who I am as a person.

Through our life experiences, we

consider some emotions acceptable,

and some unacceptable.

3 Primary Unacceptable Emotions

1. Anger

2. Sadness

3. Fear

Now we all experience these always

disabling emotions, the only

difference being that we access all

these emotions differently. For

example, in any kind of difficult

or tough situation, I personally

feel angry easily, and then perhaps

sad, but I normally don’t feel

fear as quick. The reason behind

this is that I have been raised in an

environment where expression of

anger was acceptable, but to have

fear, or to not have the courage to

handle perhaps was not so acceptable.

And hence, I judge myself

for feeling fear. Fear for me is being

weak. Even when I am feeling

fearful, the expression that will

come out would be anger as I will

cover my feeling of fear with it;

remember, for me – FEAR is not

an expression that I can easily accept.

And there is nothing wrong

or right here because we all feel

these emotions constantly but not

with the same intensity. We tend

to access one emotion more than

the other easily because of the

way we have been brought up or

learnt life. Required is to identify

our dominant emotion.



We also judge & reject others,

when they feel those ‘unacceptable’

emotions. Now if I encounter

a person who is feeling fear in

a situation, I immediately will label

him/her as a weak person in

mind and thus would have a limited

scope to understand what the

person is going through.

And all this happens at a very unconscious

or subconscious level.

The question arises, why do we

reject an emotion? The answer

lies in the simple fact that during

our growing up years, we might

have either seen this happening

around us or been punished, reprimanded

for feeling this emotion

and hence learnt it as part of acquired

behaviour.

Then, we are unable to leverage the

full intelligence of our emotional

system. Emotionally intelligent

people are those who understand

the whole range of emotions that

they are experiencing at any point

of time. Each emotion has a different

function & gives a different

message. The problem is not in

experiencing the emotion, that’s

absolutely natural. The actual

problem is what we do with these

emotions. It’s fine to feel angry or

sad, but what we do with the emotions

becomes crucial. The beauty

is that if we do not experience

emotions, we won’t be human.

3 dysfunctional/unhealthy ways

of dealing with emotions -

1. Deny – We tend to deny that

the emotion exists. If I feel angry

and say that I’m not, I’m

denying that emotion. It’s like

a guest knocking on your door

who you won’t let in.

2. Suppress - Bottling up the

emotions. We feel the emotion

in complete intensity but

since expressing it is “not OK”,

we push it down and suppress

it. We need to understand that

anything we push down, will

eventually surface with greater

intensity at some point.

3. Express it inappropriately

: Pressure cooker syndrome;

we keep denying the emotion,

push it down, accumulate it till

it explodes and lands on people

in our surrounding, spoiling

our relations. Our emotions are

our own responsibility and if it

hurts or damages other people,

it is absolutely not acceptable.

For example, if I am upset or angry

with my boss and can’t take

it out on him, I’d take it out on

people who I have control over

like my subordinates, my peers

or at home. Psychology terms it

as a displacement.

The first step toward any kind of

change is acknowledging or becoming

aware of our predominant

style of functioning and the

moment we acknowledge or are

consciously aware of it, is the beginning

of change.

3 techniques to easily navigate difficult

emotions –



• EMOTIONAL ACCEPTANCE

– The important thing here is to

recognize, notice the emotion,

stay in the moment and accept

the emotion. Every emotion is

experienced for a reason and

knocks at our door to get our

attention. If we deny it, do not

attend to it, suppress it, it will

keep on trying, keep on resurfacing

until we pay attention.

The moment we acknowledge

and accept the emotion, its intensity

reduces by itself. We

must name the emotion. For

example, I say: “I feel left out

and insecure because I was

not invited to the party, but my

friends were.” It would help to

view the emotions as understandable,

hence, I might think:

“No wonder I feel left out — it’s

natural to feel that way in this

situation.” Treating ourselves

kindly and understandingly

given the way we feel helps us

accept our emotions as reasonable,

and assures that it’s OK

to feel whatever way we feel.

Emotional Acceptance means

acknowledging the feeling or

the emotion but not getting

overwhelmed by it.

• EMOTIONAL TOLERANCE

- Something in the external

world triggers it, and we feel

the splurge of emotions inside

us, and without knowing we

have an impulsive, spontaneous

reaction to the situation.

When the intensity of the emotions

is gone, we often realize

that we shouldn’t have reacted

the way we did. The intensity

with which we feel the emotion

might change tomorrow, but

what we do, how we react out of

that emotion is permanent and

can leave scars on our relations

forever. What we need to remember

is to avoid this impulsive

reaction, tolerate the emotion

and not react to it. What

is in my control is my reaction,

not the trigger. Our ability to

stay with the overwhelming,

disabling or uncomfortable

emotion till the intensity of the

emotion goes down is called as

Emotional Tolerance.

• EMOTIONAL RESOLUTION

- Our feelings never come

from circumstances or people.

Our feelings come from

our thoughts. For example – I

am not feeling UPSET because

my boss yelled at me, I am feeling

UPSET because I feel he is

yelling at me as he does not respect

and value me. The words

that we attach to the feeling

when a situation occurs is what

troubles us. We are constant

meaning-making machines.

We attach meanings to almost

everything that we experience.

Does it means giving meaning

is wrong? Maybe not but think

about the price that we pay at

the end of the day by reacting

to these meanings.

Managing emotional reactions

means choosing how and when to

express the emotions we feel. People

who do a good job of managing

emotions know that it’s healthy

to express their feelings — but it

also matters how and when they

express them. That’s how they’re

able to react to situations in productive

ways. We always have a

choice about how to react to situations.

It’s easier to make choices

that work out well. Learning to

react well takes practice, but we

can get better at taking emotional



situations in stride and expressing

emotions in healthy ways. The

power to handle it is within us; to

change our emotions and feelings

attached to it. Initially, we might

not be able to handle situations

100% effectively, but even if out

of 10, we are able to handle 1 or

2, think about how much we are

able to achieve in terms of peace –

within us and around us!

“Managing your emotions

doesn’t mean you don’t express

yourself,

it means you stop short of

hurting others and sabotaging

yourself”

~ Sue Fitzmaurice

AUTHOR:

Dr. Neeta Pant

Dr Neeta Pant is a Senior HR

Professional,

Clinical Psychologist,

Executive Life Coach, Soft

Skills Trainer,

Graphologist, NLP Practitioner

and Hypnotherapist.

RE-IMAGINING

HOSPITALITY BUSINESS

UNDER THE COVID ONSLAUGHT

The Way Forward

By Abhinav Sharma



Corona virus is an infectious

disease, which was firstly

identified in Wuhan, China.

This disease has converted into

a Pandemic, which has affected

the Whole World. As of August

2020, total approx. 24 million

cases have been reported in the

world. On 30th Jan. 2020, first

case of covid-19 was spotted in

Kerala, India. Lakshadweep is

the only place in India, with no

official cases reported. Currently,

India has largest number of

confirmed cases Asia and is the

third highest among countries

of the world, after US and Brazil.

Currently, India has cases above

73 lakhs. Symptoms include

fever, cough, loss of smell, and

shortness of breath. Even some

cases in the country, have been

reported to be Asymptomatic. As

a study, 40 percent of the cases

have been reported with smell

loss. The virus spreads primarily

through nose and mouth. It is the

most contagious disease found

till date.

To prevent this pandemic,

frequent hand washing, social

distancing, and isolation are the

most effective measures. The

pandemic has affected every

field, but its major impact can be

seen on Hospitality.

Hospitality without human

touch, is a texture of robotics

that was highly unacceptable till

date. But, Covid-19 has changed

total era. Even, till date, studies

revealed that hospitality can’t be

totally shut but this Pandemic

has forced countries to shut

Hospitality Industry too.

The evolution of Covid-19

has changed Industry from

“Aesthetically clean” to

“Clinically clean”.

FRONT OFFICE NEW NORMAL

All the departments will have to

adapt to new normal from now

on. The new normal for Front

office will include:

• Plexiglas at reception.

• Temperature check at

Entrance.

• Traditional Welcome.

• Maintaining 06 feet distance is

a must.

• All staff to wear masks, face

shields.

• Sanitising stations at various

points in Lobby.

• Furniture re-arrangement

in Lobby, to maintain social

distancing.

• Digital rollover apps for

Arrival.

• Digital rollover apps for

Departure.

• RFID key system.

• All baggage to be sanitised.

• Medical kits to be provided

at Front desk, which includes

face masks, disposable gloves,

PPE kit, etc.

ACCOMMODATION OPERATIONS

NEW NORMAL

• This pandemic has renewed

Focus of Housekeeping more

and more from traditional point

of view to more implemented

point of view.

• Continuous sanitising process

will keep on going. It will be a

regular feature.

• Floors will be disinfected every

two hours.

• No concept of Reuse linen.

• Cleaning will focus more on

sanitisation of door knobs,

remote controls, WC flush

handles, etc.

• Sanitizer to be available at

every nook and corner of the

hotel.



• More frequent fumigation of

AC vents.

• Concept of Isolation room to

be introduced as mandatory

• Communication to be strictly

observed virtually. The Guest

and staff must communicate

on phone.

• Room service to be done by

observing strict 01 metre social

distance.

FOOD & BEVERAGE

NORMAL

NEW

1. Try to maintain a distance of

06 feet.

2. Traditional welcome.

3. Try to use disposable cutlery.

4. Re-arrangement of furniture

to ensure safe distancing.

5. Door knobs to be sanitised

every 30 minutes.

6. Phones to be sanitised every 30

minutes.

7. Hostess desk to sanitised every

30 minutes.

8. Servers to wear hand gloves

and face shields.

9. All furniture to be sanitised

after every use.

10. In starting stage, separate

hours to be reserved for Elders.

11. Every bottle to be sanitised

every 30 minutes in bar top.

12. Every side station to be

sanitised after every 30

minutes.

13. Every equipment to be sanitised

after every 30 minutes.

14. In-room trolleys and

warmers to be sanitised after

every use.

15. Canned beverages to be served

only, in room dining.

FOOD & BEVERAGE PRODUCTION

NEW NORMAL

• Kitchen staff to wear only fresh

uniforms daily.

• Implementation of sanitising

stations at entrance of every

Kitchen.

• Staff to wear face shields, and

masks.

• All utensils to be sanitised

before every use.

• All kitchen surfaces and

shelves to be sanitised after

every 30 minutes.

• All fruits & vegetables to be

washed in Chlorine before

entering Kitchen.

CONCLUSING REMARKS

Since, this research is completely

done from secondary sources; we

will not be able to conclude.

But, with this study, we highly

recommend that Hospitality has

to observe New normal to run

with pace of the World, & for

safety and security of our Beloved

esteemed guest’s and our asset

Staff.

AUTHOR :

ABHINAV SHARMA

ASSISTANT PROFESSOR

MAJOR - (HOUSEKEEPING)

IHM MEERUT , INDIA



TOP 8 TRENDING

ONLINE BUSINESS SECTORS

BY VANEETA AGGARWAL



It is without a doubt that due to

the COVID-19 pandemic, millions

of people lost their regular jobs.

But being pushed to the wall has

its share of advantages too. And

this is what people learned when

they took to the entrepreneurship

path to maintain a source of

income when faced with unemployment.

And thankfully, many

of them did indeed discover that

there were plenty of business industries

that could not only sustain

but let them thrive in the

troubled times.

Mass vaccination programs are

well underway in most nations,

and things are well on their way

to returning to normal. However,

the business world would never

remain the same. Remote working

got the launch, so very needed.

Businesses are now more than

ever ready to consider a remote,

distributed office. Likewise, home

delivery of essential items like

groceries and food alongside other

necessities and online retail is

experiencing an unprecedented

boom. And this change is here to

stay. Launching a business successfully

during the pandemic

also translates to an ability to get

over potential future natural disasters

and emergencies.

But which businesses are best

suited to thrive during the ongoing

and post-pandemic world? It’s

a literal million-dollar question,

and here are eight small business

ideas for you to execute without

needing significant upfront investment:

1. Provide Home Improvement

Services

In the US, 2020 witnessed the

highest growth rate in the housing

market since 2005. More

homes naturally translate to a

greater need for services that cater

to them, to improve and maintain

them in certain respects.

Most such new home buyers have

little experience renovating their

homes and sorely lack the re-

quired skills for the same. Such a

lack of skills naturally means they

turn to home improvement services

for professional help.

Don’t assume that home improvement

is confined entirely to renovations.

Other aspects of your

home like its carpentry, plumbing,

contracting, looking after the

landscape, and interior design all

fall under the purview of home

improvement services. Running a

home improvement services business

does involve a significant bit

of capital. Capital is needed due

to areas like training, equipment,

and materials that you need to

cover. The good thing is that governments

have increased spending

and are making it easier to

access funds to power your enterprise.

Another thing you should

note is that the revenues and profits

from this business vary considerably

from place to place. You

accordingly want to make sure

that the housing industry in your

geographic location of choice is

indeed thriving.

2. Start A Cleaning Services

Business

Also related to real estate is the

cleaning service business. Cleaning

services cater to bother commercial

and residential property.

It lets property owners who are

averse to the cleaning process or

do not have the time to carry out

the activity keep their properties

in pristine condition. For residential

purposes, cleaning services

typically do their job one or a few



times a week. However, in most

cases of commercial buildings,

where they need such services

daily. In the United States, cleaning

is good business, letting you

charge anywhere between $18-

$35 for an hour of cleaning. It is a

business that brings a substantial

amount of revenue for providing

a simple but essential service.

What makes cleaning as a business

all the more attractive is the lack

of overhead costs. You don’t necessarily

need to have any physical

office. Additionally, all the capital

you need is the cost of equipment

and materials, which themselves

are nothing astronomical. Further,

you can bill the clients for

the same. The last thing to mention

in favor of cleaning services

is the flexible operating hours. It

is an excellent business proposition,

thanks also to the availability

of cheap labour who don’t necessarily

have formal education or

experience, which keeps wages to

a bare minimum.

3. Providing Online Tuition

If there’s one thing that the pandemic

hasn’t been able to shut

down completely, it’s education.

Thanks to tech, schools are still

open though continuing their

teaching activities remotely. However,

this brings another set of

challenges. You can address such

issues by starting a tutoring business.

You might choose to dabble

in teaching both or either of

the basics or advanced topics of

a particular topic. Some key subjects

very much in demand in the

current situation are as follows:

• Helping in writing college essays

• STEM

• SAT/ACT preparation

• English

• Foreign languages

• History

The evolution of video conferencing

tech has made it possible for

you to provide lessons remotely.

A PC or smart-phone, or tablet, is

all the equipment you need, making

upfront costs negligible as you

already have them in all probability.

US residents charge between

$25 to $55 for an hour of tutoring.

Your educational expertise and

location determine the precise

charges.

4. Becoming a Fitness or

Personal Training Coach

Fitness centres and Gyms were

ical activities, the site has gone

online or, in some cases, outdoors.

As people remain confined

indoors for weeks and months at

length, it is more important than

ever to stay fit.

In the industry context, it is essential

to note that there are plenty of

trends in and out of favor in the

field. However, trainers and quality

content are two essentials that

retain their foothold and impornegatively

affected by the pandemic

considerably. But much to

its credit, the industry adapted to

the changes, and it didn’t take it

much time to bounce back. Only

in place of physical locations intended

mainly intended for phystance.

The US Chamber of Commerce

has advised personal trainers

to reach out to more people

and build a following using video-based

social platforms. By using

social media, personal trainers

can get customers for whom they



can create personalized workout

routines. The best thing about being

a fitness trainer is the simple

method of entry into the industry.

The industry has room for both

certified professionals and selftaught

experts.

5. Starting A Delivery Service

The highly infectious nature of

COVID-19 means that the best

precaution you can take to stay

safe is to stay indoors at home.

And this fact has fuelled the

growth of home delivery services

by leaps and bounds worldwide.

The food home delivery industry

alone is expected to surge to $104

billion by the year 2023.

Entrepreneurs can tap into this

service by getting into agreements

with local courier services to deliver

essential supplies like medicines,

groceries, and other miscellaneous

but essential errands.

In addition to standard delivery

rates, you could also charge them

extra for relatively distant locations.

Other instances of charging

higher rates may be for priority

orders that need to be delivered

soon or deliver bulky and heavy

items.

6. Offer Digital Marketing

Services

As you most probably know, the

business establishment is going

online almost entirely. And that

means they would need digital

marketing services to make the

most of their business move. Accordingly,

you can start a digital

marketing agency and help businesses

build brands and grow

their businesses online. Typical

digital marketing services include

one or multiple of the following

services:

• Content and Copy writing

• SEO-based writing.

• Ideation and execution of social

media ad campaigns

• Website design

• Creative consultation on

branding and associated practices

• Managing and carrying out

organic social media marketing

Formal training in the field is not

mandatory to run such an agency.

Further, you can manage the

whole thing right from your home

office, making overhead costs

minimal. You are free to work as a

solopreneur or hire experts where

you can’t make it on your own if

adequate resources are available.

7. Develop Apps

In this age of digitization and mobility,

more and more businesses

are creating even dedicated apps

for smart phone platforms like

Android and iOS. Such apps help

businesses a lot to reach out to

even more customers. By starting

an app development agency,

you can help companies achieve

such desired results through custom-dedicated

apps.

Though formal training is not necessary,

you do, however, need to

skilled in programming. Previous

experience in developing apps for

either or both of the Android and

iOS platforms is also necessary.

There are plenty of online courses

and programming boot camps

that will give you a firm grasp of



the basics and start your journey.

8. Offer Accounting Services

Irrespective of whether you are

an employee, a professional, or

a business, you will need to file

tax returns in all likelihood. And

accounting services are boon for

that. Not only for taxation, but

such services also provide valuable

financial planning and bookkeeping

functions. The demand

for such services is constant and

is relatively stable and growing,

making starting such a business a

highly lucrative proposition. It is

yet another profession with little

overhead costs, and you can start

from your home.

There is one considerable drawback,

however, in the form of the

entry barrier. In most countries,

you need to possess one or more

of a relevant degree, a license, or

a certification. However, suppose

you can acquire advanced qualifications.

In that case, the high financial

remuneration in the form

of fees makes it worth the effort.

Though a significant setback for

almost everybody, COVID-19 is

not without its silver lining. It

helped reveal many trends that

were gaining momentum in crucial

growing markets besides exposing

significant opportunities

in niche sectors for businesses

and entrepreneurs to tap into. It

taught companies that growing

trends should not be ignored even

if they are small. Some of them

indeed evolve into pivotal global

factors in international market

Dr. VANEETA AGGARWAL

CEO, Founder

L’strategyq Advisors and

Business Strategy

e-Magazine



BOOK LAUNCH

FEAR LESS SELL MORE

By

TOM STERN

Now, he has channelled his experience

straddling the corporate

and show business worlds into

a nationally-syndicated comic

strip and a nationally-syndicated

radio show.

In anyone else, this melding of

disciplines may have created an

identity crisis. In Tom Stern, it

has created a man with a mission:

to redefine corporate culture and

attitudes, to bring fun back into

the shaping of a career, and to

make sure that everyone, no matter

what their rank, has a few

laughs along the road to success.

Learn more at

https://tomsterncentral.com

ABOUT THE AUTHOR :

When it comes to not taking

work too seriously, Tom

Stern is all business.

Raised by a super-successful

C.E.O, Tom cut his teeth on the

world of stand-up comedy and

entertainment management,

then veered back into the corporate

world by becoming one

of the top executive recruiters,

or “headhunters,” in the nation.

ABOUT THE BOOK:

A humorous and instructive

book on overcoming your

fears, increasing your confidence,

and having more

success in both sales and

career satisfaction.

A

s an ADHD child with dyslexia,

Tom Stern felt unable

to live up to the great expectations

set by his very successful grandfather

and father; as a result, he suffered

from extreme anxiety. Over



time, he developed a methodology

that increased his confidence

and enabled him to achieve success

in the entertainment industry,

later founding an executive

search firm that has sustained excellence

for more than a quarter

century. It is Tom’s goal to help

others achieve success in sales

and realize their dreams by overcoming

their fears as well.

Fear Less, Sell More uses a fictional

story, humour, and a conversational

approach to making

friends with fear. Drawing from

Tom’s circuitous career, he shares

his unique insights into the psychology

behind selling that can

bolster the success of any sales

professional.

BOOK LAUNCH

ASCEND YOUR START_

UP

By

HELEN YU

ABOUT THE AUTHOR :

Helen Yu is the founder and

CEO of TigonAdvisory, driving

growth for tech companies

from start-up CEOs — who go

on to achieve multibillion-dollar

revenue growth and record profitability

— to global titans like

Oracle and Adobe. She’s a board

advisor to fast-growth SaaS companies

and is on the board of the

Global Cybersecurity Association.

She’s a top Twitter influencer

with a 10M+ weekly reach and

was ranked a Top 10 thought lead-



er by Thinkers 360, and a top 10

digital transformation influencer

by IBM. She’s spoken at SXSW,

TiECon, DMS, and Money2020.

An avid adventurer who trekked

to Mt. Everest base camp and ice

climbed glaciers, her new book is

Ascend Your Start-up: Conquer

the 5 Disconnects to Accelerate

Growth(Made for Success, May

2021).

Learn more at

https://tigonadvisory.com/

ABOUT THE BOOK:

Technology is driven by vision

and wisdom, but in the end, it

is a product of the workforce that

creates it. That’s why your employees,

and the company culture that

supports them, are so important.

As you step onto the global stage

with your start-up or business,

take your entire team with you.

Employee Culture and Customer

Experience

How exactly do you create a collaborative

culture and positive

employee experience? Your view

may be from the top, but the work

starts from the ground up with

employees who feel included, valued,

and heard.

A company that thrives on cultural

collaboration supports an

inspired workplace, and this positive

employee environment ultimately

leads to a better customer

experience. The company culture

you cultivate can motivate your

collaborators and employees and

help inform your hiring process

and whom you bring on your

start-up or your business leadership

journey.

Encourage Accountability and

Transparency

First order of business: foster a

culture of learning and people

who believe in the overall mission.

This encourages employees

to help one another, cultivates

gratitude, sets down a practice of

transparency, and clarifies how

each person can contribute to the

company’s success. Disrupting the

standard daily grind leads to innovative

thinking and a more profound

commitment that will define

your company inside and out.

Not everything will go as planned.

There will be bumps along the

way. Believers will stay with you

even when they can’t see what is

in front of them and even when

things go wrong.

Brand Values

Next, clearly communicate what

your brand stands for. Make sure

employees understand your company’s

goals, expectations, and

concerns. When your team sees

what your brand means to you

and what it stands for, they are

more likely to become believers

and support you in both triumphs

and failures.

To create this supportive company

culture, be clear about your company’s

goals, core practices, and

overall purpose so that everyone

on your team cares about the business

as much as you do. Consider

putting your mission, vision, and

values on a card people can keep

near their workspace. In team

meetings, ask people to share examples

of your brand in action.

Hiring the Right People at the

Right Time

A team of employees who fit the

culture you have created will set

your company apart and support

it for the long run. Don’t bow to

pressure from the board or your

investors to hire quickly. Take

the time to find individuals who

are best suited to your company.

Tech-savvy founders and growth

leaders need people with business

experience to complement

the start-up build.

You may even wish to find someone

who has already scaled the

tech start-up mountain and can

work beside you to make your

vision a reality. Partnering with

someone who has complementary

experience can help you ascend

to the next level.

To secure your spot on the global

stage, build your team beyond

your network. Hire people who

support your vision, the top one

percent in the industry, and those

who deliver and have shared values,

beliefs, and commitment to

customers and team. And once

your dream team is on board, be

sure you’ve taken all the necessary

steps to empower them to succeed.

Removing Employees Who Do

Not Reflect Your Brand

Hiring is just the beginning. You

must partner with new hires so

that they succeed. Align your

business strategy with the day-today

execution of employees’ tasks

by clarifying roles and responsibilities,

setting up clear expectations,

holding people accountable,

rewarding top performers,

and weeding out toxic employees.



Unfortunately, not everyone who

begins the start-up journey with

you will stay the course. As a result,

you may have to make some

tough decisions about whether

or not to leave people behind.

Often, you have to take a detour

to achieve your goals. Personnel

changes may be necessary, but

adjustments to your team along

the way can ultimately work in

your favor. Stay agile and open to

change.

Humanity as the Central Focus

No doubt, 2020 brought turbulence

into both the global economy

and our everyday lives. Many

organizations were faced with difficult

choices, including how to

downsize quickly and effectively.

The way that process was managed

is a direct reflection of company

culture, values, and beliefs.

Some organizations did it well;

many major corporations opted

for pay cuts or furloughs with full

benefits to avoid layoffs. One of

these was Hormel Foods, which

furloughed 350 workers instead

of laying them off and also allowed

them to keep benefits like

healthcare. “Our employees are

long-term investments for us, and

they’re a precious resource, so we

needed to do what we could,” said

Hormel Finance Chief Jim Sheehan

in an article from the Wall

Street Journal.

Unfortunately, other organizations

did not handle the situation

so well. For instance, start-up

Bird, known for its sporty scooters

in urban areas, laid off its entire

406-employee workforce in a

two-minute zoom call.

The people you bring with you

onto the global stage directly contribute

to the overall success of

your start-up or business. An environment

where humanity is a

central focus is not to be underestimated.

In supportive workplaces,

employees feel more included,

valuable, and essential. This is the

pathway to growth – both for the

company and the people driving

its success.

BOOK LAUNCH

BRAND RENEGRADES

ABOUT THE AUTHORS

Sean Dowdell is known as the

Tattooed Millionaire, which is

also the title of his first book

(2017). In addition to his role as

founder and CEO of Club Tattoo,

he is a drummer with Grey Daze.

He’s a frequent speaker to a variety

of audiences and has been featured

in Entrepreneur, GQ, Billboard,

and on CNBC, A&E

and more.

By

SEAN & THORA DOWDELL

Thora Dowdell was formerly

in marketing and sales before

becoming a business partner with

Sean, initially in the music recording

industry and later in Club Tattoo.

Thora is passionate about empowering

women business owners

through her story. Together, the

husband-wife team have authored

the new book, Brand Renegades:

Our Fearless Path from Startup

to Global Brand (Entrepreneur

Press, May 25, 2021).



ABOUT THE BOOK:

Don’t Mistake a Logo for a Brand

By Sean and Thora Dowdell

Nike’s logo has been the same since

1971, and its slogan “Just Do It” was

added in 1988. The logo connects

to its consumers, reminding them

that they can power through physical

and mental challenges.

The reality is that your company

likely won’t become a brand titan

like Nike. However, you can use its

example to build your brand and

create that same kind of connection.

We’ve worked hard to make Club

Tattoo a memorable brand. Here

are the lessons and wisdom that

we picked up along the way.

1. Your brand is more than just

a logo. It’s what your customer

connects to.

A brand is an identity shaped by

the set of attributes your customers

associate with your business.

These can range from the visual

image of your logo, to products

and services, to how you provide

customer service. It’s something

that others recognize and assign

value to you and associate with

your business. Most people can

tell you what colours Coca-Cola

uses in its logo and advertisements

and who offers 5 Dollar Footlongs

(Subway).

What do people associate with

your brand? To answer that question,

you need to ask yourself a

few questions.

- What does my company do or

produce?

- What do my customers want and

how do they experience my company?

- What is my company’s niche and

where does it fit in the industry

and market?

When you try to serve everyone,

you end up serving no one. Answering

these questions will help

you focus on what your business

does best, improve upon that, and

overcome the temptation of trying

to be all things to all customers.

2. Highlight what makes your

brand memorable.

Tattoo and piercing parlors aren’t

known for being customer experience-focused.

One of the things

that makes Club Tattoo so different

is our customer service team.

Every client that walks in is greeted

when she or he crosses the



threshold. We create an environment

that’s clean, upscale, and

inviting to customers seeking a

higher-quality tattoo or piercing.

This all makes us stand out in the

industry.

How do you make a brand experience

that your customers will

never forget? First, define how

you can improve your processes

or systems. Even a tiny change to

your service or product delivery

can help your company stand out.

Then deliver on those changes to

a high standard so that your customers

can trust that they’ll experience

something that only your

brand provides.

Your brand is more valuable than

the product or service you sell. You

must find out what makes your

brand different and highlight that.

Is it your product? Your location?

The customer experience? Whatever

it is, find it and capitalize on

it to create lifelong customers that

will seek out your brand.

3. Make the most of what sets you

apart.

Identify and focus on the one

thing you do better than your

competitors. Make it your calling

card for people who are seeking

your unique selling point.

Let’s look at coffee. Most consumers

instantly think of the Starbucks

logo. Starbucks is the most

significant global coffee brand

and a force to consider for people

interested in starting a neighborhood

coffee shop. It may seem like

a losing proposition, but there are

niche opportunities or sub markets

within every market. Stump

town, based out of Portland, Oregon,

has created a specific market

within the coffee industry, focusing

on an experience for those

who consider themselves discerning

coffee connoisseurs. Stump

town’s customers display their

Stump town cups with pride as

they go about their day.

Different is good, and bigger isn’t

always better. As you consider

what sets you apart, ask yourself

these questions:

- What is our product or service

niche?

- What does our business do best,

and how can that fit into a niche

market in our industry?

From there, you can create a brand

experience to delight your target

audience.

4. Discover and define your tar-

get audience.

Your target audience is the specific

group of consumers that you

serve with your product. It will

also be the people that you’re targeting

with your marketing and

advertising strategies. Before you

start selling a product or service,

you need to know and understand

who they are — who they’re not.

Three core elements connect the

target audience: your product or

service, their demographics, and

your company’s mission and vision.

If you already have customers,

start collecting data on them.

Capture vital statistics, location,

and what kind of things they

spend money on. Start gathering

this data in a format that can be

easily analysed and categorized so

you can access it and use it to better

tailor your brand and marketing

to them.

When you go through this focused

exercise of finding out who your

clients are, you may be surprised

by what you find. When we did

this in our original Tempe studio,

we discovered that we were wrong

about our audience. We thought

our client base was mostly college

students, with a 50/50 ratio of men

and women. Actually, we served

more than 60 percent women and

mostly people ages 24-32. With

that information, we could identify

what items we actually needed

to carry and stop wasting money

on guessing.

5. Know what you’re telling your

clients with your business’s marketing.

Now that you have a target audience,

what message are you sending

with your marketing?

You must ensure the message is

evident to those who know little

or nothing about your business

or brand. Do they get what your

ads and logos are trying to convey?

Can they identify what your

visual signature means? You can’t

guess or make assumptions about

these details. If you don’t have

solid data on them, you must do

some market research. Ask people

who are unfamiliar with you and

your brand these questions. The

answers may reveal insights that

surprise you.

While it can take dedication and

effort, refining your marketing to

effectively engage your target audience

is key to having a long-term

business. If your marketing strategy

remains consistent and your

message is powerful, clients, and



even potential clients, will think

of your brand first when they need

your product or service.

6. Appeal to customer values.

Values are highly variable when

it comes to customer experience.

They can represent the cost of customers’

time, monetary considerations,

or ideals — like patriotism.

Think of it in terms of actual value

customers receive = benefits of

a product or service - (minus) cost.

You want to create a value proposition

that benefits you and the

customer.

Never assume what your customer

values. It may not always be

what you think. You may believe

that money is always a high priority,

but it often ranks last when

determining value. Things such

as wait time, product availability,

ease of purchase, and customer

services are all things to consider

when seeking a value proposition.

Take every opportunity you can

to capture customer data to make

sure you’re providing the value

they seek.

Using specifically targeted surveys

for customers according to whatever

you offer is an excellent way

to do this. With simple, easy-toread

questions, you elicit honest

answers that help you adjust your

business. The goal is to understand

your unique value proposition

and make changes that better

communicate it. When customers

see the connection between your

values and what you offer them,

they’ll be more likely to choose

you and become life-long customers.

This work allows you to find

and promote your niche within

your industry to set yourself apart

from the competition.

Creating a brand that resonates

with your target audience and

provides customers an experience

they can’t get anywhere else isn’t

easy to accomplish. However, it’s

what can give you a competitive

edge in the marketplace.

Learn more at

www.clubtattoo.com

THE PPE HERO OF COVID 19

JACK YUAN

Gen Z Youth Builds Staggering

$200 Million Global PPE Medical

Supply Chain in Under 12

Mogul in the Making: Since launching

in early 2020, 20-year old

Stanford college student Jack (Bi

Tian) Yuan , turned global medical

supply chain tycoon’s company,

TianchiMed, has supplied over 600

million PPE products worldwide,

recorded a stunning $200 million

in revenues during year one operations

INTERVIEW WITH JACK YUAN

What exactly is Tianchi Medical’s

overarching mission?

TianchiMed’s mission is to deliver

low-cost, high-quality Personal

Protective Equipment (PPE)

to countries, organizations and

businesses that are protecting

their populations against the

COVID-19 virus with the shortest

amount of lead-time. At Tianchi,

we believe that everyone deserves

access to PPE and we have built

factories, a 60-person team and

more than six global partnerships

to make that a reality. Since our

launch in March of 2020, TianchiMed

has worked with federal

governments and local hospitals

from the U.S., Canada, Brazil, as

well as local pharmacies, sports

leagues and corporations like

Amazon and Home Depot to

equip local communities with

life-saving PPE for their frontline

workers and citizens.

Tell me a little about your background

and how it led to the

idea to launch Tianchi Medical

and build a PPE supply chain?

I started my Stanford education

with a major in Symbolic Systems

and a minor in Philosophy,

but I entered the PPE industry in

March of 2020 after returning to



China alarmed at the serious nature

of the COVID-19 pandemic.

Understanding the need for PPE

supply during this dire time, I left

the Bay Area to establish TianchiMed

in Guangzhou, China,

to contribute to the fight against

COVID-19. Using data on (1) the

number of daily international inbound

flights in the U.S., (2) the

rate of use of public transportation,

(3) the reproduction number

of COVID-19 and (4) the number

of healthcare workers in various

part of the world, including the

US and Brazil, I foresaw and understood

the imminent threat of

coronavirus and (5) began putting

together a business plan. It

was with this plan that I launched

TianchiMed that began to supply

masks to the federal government

of Brazil in late spring and to other

national stakeholders around

the globe.

My idea for TianchiMed was simple:

I wanted to create an effective

solution to the PPE shortages

across the world. I saw essential

workers were not receiving

enough PPE supplies as they

were combating COVID. Part of

the problem was that PPE suppliers

were spending too much time

negotiating on PPE commission,

which caused long delays in getting

the product to the end consumer.

Also, on the product side,

there was a lack of quality controls

as new manufacturers entered

the market with no previous

PPE manufacturing experience.

To meet my vision to provide

quality PPE as fast as possible,

I vertically integrated all of the

steps of providing PPE supplies

to healthcare workers. Although

initially I was simply a connector

between different deals, I quickly

became an exporter, local distributor

with warehouses, as well as

a factory owner for gloves. With

this vertical integration, I am now

solely responsible for the qualities

of the products and can ensure

my team to coordinate under

my goal.

Another problem I was proud to

help solve was employment for

my workers. Through local hiring

practices and job security, I

was able to help my team have a

livelihood during the pandemic.

Unemployment rates skyrocketed

and at one point I was one of

a few employers actively hiring.

I also leveraged my network to

build out remote support teams

at my warehouses in New York,

Brazil, Hong Kong, Los Angeles

and Canada.

What were the initial steps you

took to get TianchiMed off the

ground?

Upon returning to China, I surveyed

mask factories and negotiated

with no fewer than 200 manufacturers

and 20 different freight

companies to secure high quality

PPE equipment at affordable

prices for the end users. I then

worked closely with friends back

in the U.S. and Brazil to help procure

PPE supplies for local governments

and hospitals who were

in dire straits.

Building a supply chain in a

brand new space was tough. China’s

annual production capacity

has more than quadrupled within

the span of two months, but that

also brought forth many quality

issues and fraud. Additionally,

new regulations being introduced

every few days disrupted

all the existing orders. Fraud

was also getting so bad with the

masks that even just a few days

ago we helped bust a dozen people

replicating fake N95 masks.

At the same time, coming in with

zero knowledge of how mask production

and procurement work,

there was so much to learn about

different mask standards around

the world. Sometimes the factories

themselves don’t even know

if the masks are up to the standards

of another country because

the mask space had been relatively

small before COVID-19.

Having little knowledge of how

a supply chain works or how to

differentiate quality standards

didn’t help. As a result, I was trying

to learn everything and also

build up a team to help with

all the legal, logistics, sales and

quality control issues that I was

encountering. I was responsible

for making sure our factories

were honest and of high-quality,

our clients weren’t pulling out at

the last minute, freight companies

were delivering on schedule,

lending money and making

sure that our cash flow is healthy,

while neither the Chinese nor the

American customs were holding

our stocks and also dealing with

the everchanging customs regulations

and politics in both countries.

In the morning I would wake up

at 6 AM to receive daily reports

and have meetings with partners

and governments in the other

parts of the world before they go

to bed. And then lunch is a sepa-



ration line. I would take a 30-minute

nap after lunch and start traveling

and meeting with factories,

freight companies, quality control

teams, customs teams and my

lawyers all the way until dinner.

Then I would take another nap

right after and then go on meetings

with my clients and partners

from the Western Hemisphere

again. I usually would end up going

to bed at 1 or 2 AM, only to

wake up at 6 AM again.

What marketing and operation

strategies are you adopting—

particularly those helping you

be cost-conscious?

We try to vertically integrate the

entire supply chain as much as

possible so we could deliver the

highest quality PPE to our customers

at the lowest prices. This

includes constructing our own

gloves factory, building up our

own logistics/exporting team instead

of outsourcing, or establishing

our local warehouses in

New York, Los Angeles and Brazil.

With almost 100% control of

the product when they roll off

the factory belt, I can ship or fly

them into regions where I had existing

customers or had foreseen

demand under a week. Through

vertical integration, we are also

able to cut down a lot of the extra

fat and therefore reduce prices

for our customers. We also negotiate

down the freight cost and

raw material cost with our massive

quantities.

Our No. 1 priority is quality and

that will never change, so we will

not cut any corners there. And in a

cost versus quality analysis, quality

always wins. In the case of PPE

that can mean life or death. We

take that responsibility seriously

at Tianchi, which is why we only

work with the best manufacturers

and we do ongoing Q&A and rigorous

onboarding testing. When

we send out a shipment, we want

to be confident that each item is

of the Tianchi quality that our

customers have grown to know.

Are there any strategy mistakes

you have made and, if so, what

did you learn?

Early on, I remember going out

to talk to suppliers who claimed

to have “masks” or factories that

have zero quality control in place.

Since it was my first time operating

a business, I trusted people

that I should not have, paid them

and received products only to realize

that they were counterfeit

or not what was specifically list-

ed on the contract … only after

I received them. I was disheartened

to see the level of fraud and

low-quality products out there,

especially when it came to something

as important as PPE.

Another mistake that I made

when I launched was that I was

too cost-conscious and thought

that I alone could have handled

the majority of the exporting process.

After being scammed for the

first time, I quickly realized that I

needed a collaborative team that

could handle the detailed operational

work so I could focus on

scaling the business and the larger

strategy. This is when I knew

that I needed funding so that

I could hire a team that could

help me scout factories and perform

quality control to work with



some of the best-in-class manufacturers.

With the help of a few

small investors, as well as results

from a few small PPE deals that

we did, eventually we were able

to raise $10 million dollars to prepare

ourselves for the Brazil 240

MM Masks deal.

My strategy since has been to own

part of the factory or build my

own factory from scratch just so

I can have peace of mind knowing

my products are of the quality

needed.

What challenges did you experience,

and ultimately overcome—and

did your youth factor

in?

The PPE space is a mess. Last

March, there was very little regulation

in place for masks and

gloves because only less than

1% of the entire population used

them daily. And when everybody

needed masks, the quality didn’t

matter as long as they looked like

a mask. Eventually I learned to

build my own quality control and

regulatory team to help me standardize

the mask manufacturing

process at our partner factories

and now we have also finished

building our own gloves factory

that complies with the International

ISO quality standards.

One of the largest challenges

that I faced when starting out

was the lack of business experience

that came with my young

age. Although I have dabbled in

a few science research competitions

and tried launching my

own startups with friends, this

was my first time making transactions

and deals with value larger

than $1 million. I needed to learn

everything from scratch—the exporting

and importing process,

taxes from Brazil, the U.S. and

China, custom clearance, UPC

codes and the packaging design

of the masks and gloves, creation

of a factory with high-quality

standards and running a 50-person

team. Prior to 2020, I had

no experience with any of this. I

failed fast, but I also learned fast.

Can you share a story when you

have been customer-obsessed?

The ethos behind TianchiMed

has always inherently revolved

around being customer obsessed.

However, I do not only see my

paying partners as my customers.

My customers are also the numerous

non-profits like Masks2All,

MaskOakland and Paper Bridges

that I have helped donate close



to one million masks to. A recent

story of being customer obsessed

was around Chinese New Year—

arguably the busiest time of the

year in China as we close out the

year. While I had an endless todo

list, I prioritized reaching out

to our non-profit partners Masks2All

to ensure that they had all

the PPE that they needed for the

first half of the year. It turned out

that they needed 100,000 more

masks and I worked with my team

to make sure that those were sent

out. I started Tianchi to make a

difference and our mission and

supporting our partners will always

be at the top of my to-do list.

When you started Tianchi, did

you know you wanted to have

a giving program? Or what inspired

it?

Growing up in New York City,

I saw firsthand the lack of access

to resources in certain local

communities. When I set up

community programs to teach

young students coding back in

high school, I realized that the

local, underprivileged communities

will almost always come last

when it comes to resource distribution.

When COVID-19 hit, my

first thought was that they would

be the last in line to get access to

life-saving PPE, just like any other

resources, and that I needed to

do something to help.

When I launched Tianchi, my

top priority was to create a giving

program to donate masks directly

to non-profits like Masks2All.

The goal of my giving program

is to equip community partners

with the protective resources they

need as they help support the

most vulnerable, at-risk populations

here in the United States.

I recently delivered 50,000 masks

to Masks2All and another 100,000

masks to FourOxen, bringing my

total donations up to one million.

How do you choose where to

donate your masks to? And how

did you find Masks2All?

After COVID-19 hit the west coast

and sent everybody home, I heard

through a Stanford friend of the

incredible work of Masks2All, a

local organization in Berkeley,

California. As I was launching

TianchiMed’s giving program, I

knew they would be one of the

first recipients of our masks. At the

same time, I reached out to many

of my other friends at Stanford

and UPenn looking for potential

non-profits who I could partner

with to distribute as many masks

as possible.

When I launch new giving partnerships,

I make sure they are a

reputable organization in their

community. My mission is to ensure

that everyone who needs

access to PPE has it and I want

to work with organizations that

align with that and do not discriminate.

Although you have adeptly built

a $200 million PPE supply chain

in an extraordinarily short

amount of time, you’re known

to be “ready for more.” What

does the future hold for you?

We do anticipate demand for

quality PPE supplies will remain

strong over the near-term years

ahead. We will continue to aggressively

expand our reach into

more hospitals and medical facilities

throughout the countries in

which we currently operate and

we will continue to expand into

new territories as well. Along the

way, we’ll be cultivating longerterm

relationships with end-users

like doctors and other healthcare

workers so that, even when

the COVID-19 pandemic is under

greater control, we remain

a go-to source for quality, medical-grade

face masks and gloves.

We will also certainly be logistically

well-positioned to respond

and react to any new infectious

disease crisis that may present in

the future and will work to ensure

that our industry customers are

equally prepared. At the end of

the day, it’s all about helping people

stay healthy and, ultimately,

saving lives.

In all, Yuan is a study in being

bold and taking educated entrepreneurial

risks. When he

started out last March, he never

dreamed that he would ultimately

build a business that has distributed

over one billion pieces

of PPE around the globe. Yuan’s

unlikely business success is proof

positive that, regardless of age, as

long as you have the drive, vision,

confidence, tenacity, heart and a

strong support team, what you

build today could very well leave

an enduring and meaningful impact

on the world of tomorrow.



MONTH’S HOROSCOPE

Aries (Ram): March 21–April 19

Your romantic life could see a boost after this transit, or you might

just be more concerned with expounding on your creative talents.

Get ready to feel good about yourself and let others know it. You are

radiant, confident, and ready to put yourself out there and find an emotional

connection.

Taurus (Bull): April 20–May 20

Set your sights big now because you will accomplish a lot. A defining

transit for you is Mercury’s ingress in the sign of Virgo on the 11th.

You are going to be a lot more entertaining to be around since you will

be in a playful mood for the next several weeks.

Gemini (Twins): May 21–June 21

During this month, you are very intellectually stimulated and everyone

will take notice. Venus enters Libra on the 16th, and this transit

makes a positive trine to your sign, bringing those confidence levels

through the roof for the next several weeks.



Cancer (Crab): June 22–July 22

This is your opportunity to bring balance, and you will be successful.

During this period, you’ll be able to make peace with those who

continue to make war with you. But you’ll be victorious if you choose the

diplomatic route. You are going to set your sights on home improvement

Libra (Balance): September 23–October 23

During this period, you’ll be more reserved, and others will take notice.

Use this time to recharge your batteries through resting. Relationships

become top priority now, and you are going to feel more confident

when it comes to your romantic life. On the 22nd, the Sun enters

Virgo, initiating a period of more reflection, meditation, and spiritual

awakening.

Leo (Lion): July 23–August 22

The year has allowed you to grow and understand how your friendships

are evolving as well as your romantic relationships. With the

Sun entering Virgo on the same day, you are going to be more understanding

and focused on treating yourself. Mercury will enter Libra on

the 30th and this can bring a nice, calming, and relaxing period for you,

since you will be a lot more comfortable communicating and reaching

Scorpius (Scorpion): October 24–

November 21

This is your time, the moment you have been working for, and this

transit will influence you for the next six months as you see some

powerful changes in career, home, and/or school. Venus enters Libra on

the 16th, which is a good transit for you if you have felt restless. Take a

break, relax, and have fun reading a book or focusing on art.

Virgo (Virgin): August 23–September 22

The New Moon in Leo will be on the 8th, and it will represent a closing

of cycles for you and new beginnings, since this is happening in

the darkest corners of your chart. You might even contemplate learning

new things to keep you entertained. If you are a creative, you might

branch out and consider applying new technology or software for your

projects.

Sagittarius (Archer): November 22–

December 21

Get ready for the month of August, as this fire energy begins to get

you back on track. Your focus will be on philosophy and higher

thinking with this New Moon in Leo on the 8th. It is a good opportunity

to begin a new course or even consider going back to school if you want

to pursue a new major.



Capricornus (Goat): December 22–

January 19

During the month of August, your relationship energy will be transforming,

thanks to the New Moon in Leo on the 8th. This is the

perfect time to connect with your partner on a deeper level and discuss

anything that could strengthen the bonds.

Aquarius (Water Bearer): January 20–

February 18

It brings the focus to your relationships. It can be a good time to meet

people, and those who are single will have great opportunities to enter

relationships. You are going to have to see some changes at work and/or

school, so the key here is being balanced and not trying to take control.

Be patient and not hasty.

Pisces (Fish): February 19–March 20

A

glorious month for you, since many of these transits will be highlighting

your relationship house. ou are going to be more willing to

meet people that can help you. If you are single, you have opportunities

to start a potential romance. The Full Moon in Aquarius makes your

dreams more powerful. It is a transit that will make you want to reflect

and find comforts at home.




Business Strategy E-Magazine August 2021

You also want an ePaper? Increase the reach of your titles

Delete template?

Save as template?