7 Sep 2021, 11:00 — 3 min read
You have created a sustainable enterprise and it seems like things are in good shape for now. However, the next leg of growth could be a challenge. There might be a temptation for the entrepreneur in you to start another business, however it is best avoided. It is like playing a new game, it takes time to master.
What is to be done now?
Most enterprises recognise the value of ‘doing’, however they don’t emphasise enough on the importance of ‘being’. A ‘be-do-have’ approach is better in my experience.
The right to win is our focus on a mix of current reality on the parameters one can add value in the marketplace. The right to win changes every couple of years. Either we disrupt, or are disrupted or adaptation to the current situation takes place. This is like the eagle changing its feathers every couple of years.
This is a phase to see beyond what is possible and challenge one’s own thought process. If you are competing with yourself, the journey is joyful.
The idea of high impact makes for the core of the thought process. This is the heart of this phase. It is about combining the best intentions, planned framework for execution and good teamwork to ensure that the future profits are insured. This is more about developing new frameworks which ensure that the enterprise stays true to purpose.
In India, serving the community has been the key connect to secure the future for generations to come. It helps to build social capital.
Also read: Value of ‘giving’ to build your business
The ability to mentor young talent is critical especially in family businesses where processes are not formal. A structured approach to raising the standards in an industry is one of the ways to secure the future.
A good approach is to look at building the company for three times industry profitability. This is a key tenet of Rockefeller Habits. This approach also helps in looking at business with a fresh lens or evaluate practices which are not in line with business growth.
The focus on building on high value relationships is critical especially if you are focused on the future. The leverage of one’s own credibility is critical for breakthrough thinking. This helps to make things happen.
May you be a force for good forever.
Also read: Fix your business problems the eagle way
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Posted byAnirudh Anand Gupta
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21 Aug 2021, 10:00