SEPTEMBER 202319"As leaders of a metal house, tracking price and stock movements, staying updated on commodity-related news, and having a strong understanding of finance and commercial aspects are crucial responsibilities. Building networks, and engaging with investors have provided valuable exposure, and diversified views of other game-changing entrepreneurs have contributed tremendously to our growth. Additionally, having minuscule floor-level knowledge and a hands-on approach allowed diversification and the efficient management of multiple factories. Demonstrating sky-high commitment, particularly during challenging times earned us a reputation for unmatched service. We are practicing JIT at every level possible and have always maintained an aggressive stance, whether in domestic or export marketing, spreading our reach or making bold decisions", further shares Madhav. An uncompromisable element of every successful business is its workforce. Understanding the crucial role the team plays in the success of a venture, Madhav places a lot of focus and emphasis on building and maintaining a strong team that acts as the spine for the business, nurturing true performers, and pushing individuals to reach their potential. He believes in setting previous accomplishments as immediate goals and constantly striving to outdo them rather than comparing them with others."Evolving and improving over time is essential to stay ahead. Incentives and increments are important, but providing exposure, handling pressure, and striving for perfection is what SMA offers. If you're an SMA, you are a performer. Intent, honesty, and work ethics are foundational and loyalty is valued over job-hopping for minor increments. I strongly vouch for the Karma Cycle and believe appreciation and growth within the same company is so much possible and I strive hard to foster this culture within my business", adds Madhav. Drawing from his own journey, Madhav shares suggestions and strongly emphasizes that uniqueness is a pivotal factor in business. "It's the time of Hard Money coupled with Smart Money. It cannot be ignored that this is the Century of Technology and we should all be adaptable to the uprooting of set practices, which this sector is capable of", shares Madhav.It is also crucial to have a clear vision for the immediate future, even if targets are initially divided into stages, be it in upgrading oneself with or without tech. Policy and integrity have to be unwavering guiding principles. By upholding these ethics and offering something distinct in the market, whether in Copper, Chrome, or any other product, financial gains become a by-product. Seeking guidance and advice from industry experts while showing Gratitude is important in shaping the right path for sustained prosperity.In the future, as this traditional business considers venturing into new products and tech-enabled solutions, the company will confront the additional challenge of building a high-performing team. In an industry characterized by oversupply, creating a buyer's market, where buyers exploit vendors and manipulate them, remains a pressing concern. To address these issues, the company is planning to distance itself from this Rat Race by strategically focusing on its unique niche products and exploring alternative markets. It aims to navigate through the sharp volatility driven by news-based price movements, which can lead to unpredictable market reactions, often diverting attention away from fundamentals or technicals. The acute volatility will continue to affect process-based industries, posing challenges to investors and fund houses due to the perceived cyclical nature and margin erosions caused by fluctuations. Despite their substantial contributions to the economy, metal companies are expected to encounter ongoing issues with lower valuations and P/E multiples, reflecting the industry's turbulent nature. Madhav places a lot of focus & emphasis on building & maintaining a strong team that acts as the spine for the business, nurturing true performers, & pushing individuals to reach their potential
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