The 4P’s and 3E’s Concept

Hello friends, let’s learn another amazing concept of business that I learned in one of the training by Rajiv Talreja

This concept is about Strategic growth in the business.  

But before even we talk about the strategy or growth, let's talk about business, as in what are the basic qualities and skills that one needs to have to start a business.

We all know that business is a learnable skill. But to learn this skill, we need to first find out the 4P’s. So what are the 4P’s that I want to tell you?

I am sure you are excited to know them.

The best part is, we already have some of it and we need to learn some.

That means the 4P’s are the combination of qualities and skills.

Qualities that we already have and Skills that we need to learn.

So let us first discuss the that we already have. i.e the qualities

I am sure we all know about it and we all have these two qualities in us.

1. P: Passion

This is a very basic quality we require to do anything in life. Without Passion, any work or skill becomes a burden.

If we are passionate about something, we fall in love with it and hence we love doing it and spending time for it.

Hence Passion is the first quality.

However, only passion would not work. As in Only Passion = Hobby.

2     2. P: Purpose

 This is another thing that is very important to have. One needs to have a strong Purpose to do anything.

If the purpose is clear, half the battle is won.

However, only Purpose = Charity.

This was about the qualities. I am very much sure you all would agree with me that these are the basic qualities we require to do anything in life.

 But like I said Only Passion and Only Purpose would not work. Along with the qualities we also need to learn the skills.

When we think of doing a business, neither we want to do it as a hobby nor as charity.

We all think of doing a business to generate income out of it. And for that, we need to learn some basic skills that are required in every business. And Of course, some specific skills depends upon the business we choose.

But here we will discuss the basic skills that are very important to have to get into the business world. And these are the basic skills that I have learned.

 So let's discuss the remaining P’s which fall under the Skills category

3.       3. P: Profits 

     This is yet another important P that we should think about.

We should study how the profits are made from any business. What are the ways to generate profits? And how much are we expecting per month and eventually per annum?

This is a calculative skill and one should learn it.

4. P: Proficiency

This is the ultimate skill I would want to emphasise upon.

This is nothing but a high degree of expertise.

You got to be the expert in anything that you do.

Be an expert in your own business. This will help you not only in objection handling but also to attract more clients.

 Now once you spend maximum time on building the foundation of the business i.e 4P’s, The 3E’s become a cakewalk. The 3E’s are nothing but the stages in business

Let me now discuss the 3E’

1.  E: Explore New Market

 Make your business scalable. The true Entrepreneur believes in the Expansion of the business.

 2.   E: Explore New Partnership

 Today’s world is more of collaboration than of competition. Every big business today is a collaboration. So be open to partnership.

3. E: Explore New Opportunities.

 Now, this is the ultimate stage where your business is expanded by collaboration. Now you need to find more opportunities to either have more verticals or more products.

We all know that business is done to earn but before that we must first learn.

Hence the Cardinal rule of business is “First Learn then Earn”.

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Greetings and Blessings!!