Even small units can achieve growth with timely adaptions

Constantly adding value and offering something new to your clients will ensure that your organisation and products are on the right path to become a brand

Our textile and clothing industry is divided into two parts and over the years this perception has become strong. There are top companies that are constantly growing, quarter to quarter, year on year they are announcing good results, entering into new product segments, constant growth plans are being materialised, and they are entering into joint ventures with other stakeholders, buying emerging brands or start-ups. In line with them are some companies that do not have large-scale operations or integrated systems but they are also making good money. On the other side, I see that companies that are not well have not achieved any major milestones in several years. Even more alarming is that they are not very optimistic about their future. They just survive by hanging on.

Why it is so?

Overall policies, market scenario and variety of challenges are the same for all and there are many individual reasons for this scenario. If the big companies have deep pockets, enough resources and other such advantages, small companies do have limited overheads and more flexibility. Leadership has a crucial role for any organisation but solutions can be adopted to go beyond limits for growth. I have not managed a public limited company but with my experience of working with top companies and observations, and exposure to running a small unit, I must say that despite plenty of challenges, there are solutions to have satisfactory growth.

Make a strong team

The textile and clothing industry in India has developed a system where the promoter of the business has to be part of even the day-to-day small activities. Every small decision needs the owners’ nod. So is it not good that we should have a good team that can contribute to the growth while the promoters can enjoy an easy life, and focus more on the core job-business growth?

Having a capable team has its costs but there are ways to go about it-hiring freelancers can be a good option as they have a certain cost aspect only. There are smart and qualified young graduates or interns who wish to learn. One can take the support of incubation centres, educational and training institutes and faculty’s help as they have good knowledge. While exploring all such options, a significant aspect is to treat your team well and create an environment where they can learn, and make them part of the decision-making.

Just having a good team is not enough as in the constantly changing business scenario, training oneself and the entire team is also a must so they can give desired results. This makes for a sound investment in the business.

Are you becoming a brand?

Ask yourself often if your organisation or product is a brand. It does not mean that your products are identified only with a logo or selling on the name of your decades-old legacy, spending a lot of money on advertisement or marketing campaigns. Appreciate your services and commitments, never complain about quality. Constantly adding value and offering something new to your clients will ensure that your organisation and products are on the right path to become a brand.

And to do these developments you need tech support. One has to be tech-friendly and tilt towards technology adoption so on a long journey towards becoming a brand and that too with minimum investment. There are options for using various Apps and AI-enabled websites that make possible tech support at various levels. So it is time to move beyond just WhatsApp and YouTube, be it communication or learning new things or marketing yourselves.

Similarly, visitation to a variety of events, webinars, regular different store visits and associating with trade associations give the opportunity to explore more opportunities to improve and grow.

There are many more such solutions and it all depends on your priority, mindset and attitude. Most importantly, what steps you are ready to take.

(The writer runs a garment manufacturing unit in the interiors and mostly employs women)