Reflection: Mind Mapping

Challenge:

I am a member of Goller Cepte and my team size is ten. We distribute amalgamated  products; every team member is goaled to achieve his/her sales targets & collection in stipulated  time lines from their region / products. In the changing market scenario, to remain profitable is a big  challenge as the customer expectations are always high & competition offerings is become  desperate / crazy sometimes. We supply to partners and in turn partners sell to their end customer,  timely payment from end customers to partner has never been predictable. Resulting in late  payments from partners & working capital pressure on us.

Selection:

Every single partner is unique on the way of working. Every market is having their own dynamics  .Since i know the challenge, I have selected the mind mapping tool to generate creative ideas for  appropriate solution.

Application:

After gathering the data, we have organized a round table meeting with selected top 10 partners  from the region, Sales team & product team. In equal counts, we have mixed them & Created 3  groups.  Each group had been given with a title to suggest better solutions to overcome the  challenge. Example: 1. How to rotate fast inventory cycles? 2. How to generate more leads for better  sales closure? 3. What is required to have clean payment cycle?

Every group member had been given with stick notes. We have collected all the suggestions &  created a consolidated sheet.  Due to mixing of sales, partners & product team, the suggestions  were more. We have displayed the consolidated sheet to all and started discussing on each of the  suggestion. The discussions were open & we have allowed debate. This had resulted in getting  further clarity on the suggestions.

Insights:

By applying the mind mapping tool, I have got insights on new methodology and different views. It  had given the insights to create more options to partners. Example:  instead of pushing for timely  payment, we have opened alternative channel financing option for the large deals and for the  smaller one, we have considered with pre-post payment option. Understood the importance of  linear billing, the pain of product team to remain profitable, expectation of partners etc.

Approach:

With the refresh in mind set. Instead of convincing my own decisions, I will give chance to all the  team members/ other person to discuss on their challenges. Will listen more and speak less. Next  time, I will use story telling tool to get the team motivated & to make the discussion fun filled.

