Business is doing well…

What happens to businesses which are doing well ? How does a CEO react to such situation. While it is a pleasure to be in that situation, it is also time to act fast on maintaining and growing it. The risks are many  at this time and it can start to go down without much effort. It is critical to analyse the possible risks and start mitigating it. It is also important to find harmless ways of cutting down costs, make some hard decisions which will help the organization when there is a slow down. It is time to build resilience in the organization. It is time to study and learn from the competition and try to be more focussed on customers by creating more differentiators. Customers are always looking to get more effective vendors and unless the organization continuously improves on its services, it cannot continue keep them.


Staying alive…

A business is always under threat, either internal or external or a bit og both. Staying alive under all circumstances is a critical trait of a good entrepreneur. Policy changes, natural calamities, emerging new competition, customer’s business going down etc are all possible external factors which can threaten your business. management becoming arrogant and so complacent, employees becoming bored or inefficient, old internal policies becoming ineffective etc become part of the internal factors which can bring your business down. One of the continuous activities of a CEO / Entrepreneur is to monitor such risks and preempt actions to mitigate them. Ability to stay alive is a necessary to long term growth and stability.

Meeting etiquettes…

A meeting is held to either communicate in person to a group or to get the collective knowledge of a group into action or a bit of both. A Chairperson calls for and manages the meeting and tries to cover all the points in a smooth manner to the satisfaction of everyone present within a give timeframe. Chances are given to hear other’s views. Conclusions are made clearly and to the satisfaction of the majority and everyone leaves the meeting with a feeling of  well spent time. A bad meeting leads to chaos. Many times a member  tries to take a role of a chairperson and acts like one. People talk before being given a opportunity. Cross talks happen with full earnest. Topics out of the purpose becomes a reason to be there. Listening skills go down and multiple people talk at the same time. Time sense goes out of the window. It becomes an ego based, entertainment oriented gathering. One needs to be a good listener and be a well-behaved member before he gets accepted as a Chairperson.


Customers drive your business…

Unlike the view that the Entrepreneur drives a business, it is actually the customers who drive a business much more. They have a need to be satisfied or create a need based on a availbility of a product  or service. They decide a price at which they are comfortable buying. They research the market to find out about your competitors and drive your price point and also the features they need for a product or service. They finally take a risk of buying, using the product or service and then indirectly start promoting it to others. The Smart Entrepreneur just identifies with all these and positions his business accordingly and then the business happens. Never underestimate the power the customers have on your business and no customer is permanant and lack of competition is only a windowm of oppurtunity which may go away.


Salute the Micro entrepreneurs..

100’s of Millions of Indians who are not educated and poor from the unorganized sector in India and have taken entrepreneurship or contracting as a way to survive in their life. They live for a day, borrow from money lenders at high interest, brave the cops and thugs who come demanding money, find their customers, sell their goods or services, make a profit and live the day for their family. A daily positive business cycle keeps them going. These include veg vendors, ironing service, cobbler service, newspaper vending, food vendors, toy vendors etc etc. Without their indomitable spirit, Indians at large will have large numbers of petty criminals. No one really respects them, no media cares of them, no politician fights for them though they choose and try so hard to make a living in an honest way. They are entrepreneurs in their own right driving the country but also get treated like an unwanted orphan in their country. It is the educated and rich who have to take responsibility to improve their quality of life and bring them into the organized sector of our country where they also feel proud to be part of our Indian economy.


Instincts drive Entrepreneurship…

Beyond all the detailed planning, loads of information collected, smart strategies, volumes of data, numerous external inputs, discussions, arguments, failed views etc, most decisions are finally is based on the instinct of an entrepreneur and/or his team. This comes from feelings like the passion to take up something which looks risky, love for the profession, comfort that this is good for people around and a personal unknown journey which one is excited to enter into. Right or wrong, a decision is taken and then a series of balancing and compromising stances lead to a stable path of happiness and new achievements.



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