Sell your self first

The first thing in business is, you have to sell yourself. And people should trust you. They should feel who ever you are, wherever you are from, you really means what you say. You are sincere and you really will deliver the goods. If you have sold yourself, you will sell the product.

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Passion and Entrepreneurship

This post is moved to Management Mantras

Passion and Entrepreneurship

Goal but No End Result In Mind

You can't enter into entrepreneurship with an "End Result" in mind alone. You have to enjoy the journey, every step of the way. As they say "Always expect the unexpected and then make the best of whatever comes into way"... And no one is sure about what the next round may hold.

Company's future no doubt depends on the moves that management makes in response to any critical situation. The purpose of keeping Goal is to make moves that will respond to many changes in a way that positively affects the performance of the company. Management must set a goal and then decide the strategy to reach the goal, developing or designing strategy is like playing a game, keeping only goal in mind will not lead anywhere.

Most of the time goal of the management is to achieve sustainable competitive advantage, and based on this goal (or any goal depending on the company to company). Such moves are based on an understanding of the opportunities and threats, strength and weaknesses that exists internally as well as externally. If management keeps end result in mind then its very hard to mold the strategy as per the requirement, there won't be any flexibility in the work environment, which is against the goal.

When management keeps Goal in mind then their moves help businesses compete with the cost and quality of the goods and services they offer. Understanding of external and internal environment helps management to decide the moves for achieving goal. To make winning moves, managers must find profitable patterns and business models that meet customer demands. If we see here, customer demand is most of the time subject to market conditions, so keeping end result in mind will lead management in wrong direction. E,g, Goal of the management can be increasing market capital by 10% but keeping exact end result in mind and then deciding the moves alone can lead the company in totally different direction. 

Management strategies are like the chess, in that the goal may be CHECKMATE but achieving it totally depends on opponent's moves. Same is the case with business, no one can tell when there will be a need to fix the strategy on the spot. Skills and experience are required to understand the need to mold the strategy to get work in certain way, this totally depends on an individual, kind of business he/she is in and market condition.

In short keep the Goal in Mind and keep changing the rule to achieve the end result, which can be totally different than thought of  in the start. On every moment keep on changing the moves along with the vision of where to go next....

Keep positive Cash Flows

Ups and downs are part of the business cycle, there are many distractions while achieving the goal. But while achieving business goals say sales figures, increase in capacity, promotions etc, one should not lose focus on cash. If there is no cash then one is up against the wall. While achieving some goals one day management may realize that there is no cash flow or cash is stuck in credit sales. In such cases management will end up raising money at wrong time or will have to walk away from the business. Keeping positive cash flows is very important during crisis as well. If there is down turn in economy then nothing is worth than having positive cash flow.

If there is recession then the product which brings in customers good value for money will only survive. Its better to have products which are quality and able to satisfy customers' needs. Along with this if cash flows are positive and management is able to control inventory and other costs then surviving in recession or any bad time of business becomes more easy.

While doing business, never put all money in export oriented units, it exposes the investments to huge global risks. During global recessions such units are the first one to get affected. To keep cash flow positive, there should be good balance between exports and domestic market to manage the risk. Many times to get more cash or income management keep exposing the risk to foreign markets, forgetting potentials of domestic market. Keeping track of both markets is a good strategy to keep positive cash flow.

Entrepreneurship

Entrepreneurship is about making difference in individual's as well as others' life. Entrepreneurship is not about making an assets, it is about the emotional energy and aspirations. Its about taking responsibility.

Entrepreneurs never blame the situation, weather, government policies; its neither about blaming situation nor about loosing face for wrong decision. Its about taking action, taking responsibility. "If something is good or bad I am the reason"; this is the attitude of any entrepreneur which actually makes the person strong enough to take rational action. When an entrepreneur accepts that something has gone wrong and I have to take responsibility, I have to take some action, then there is an immediate shift in the approach towards problem, thus problems become challenges for an entrepreneur.

Luck is always there but it is only 50% important, it comes only when one put in efforts, and efforts are being reviewed daily, being ruthlessly honest with oneself about "what I am doing, where I am going...". Most of the people blame the environment, entrepreneurship is having belief that "I Can Change".

Entrepreneurs understand the difference between plan and an aspiration, plan is always short term and aspiration is always long term. Also there is an understanding about intensive and extensive approach, whether one should go more deep into one area? or should be on more broad based? Its the matter of changing one parameter either the product or the client, then one can grow in adjacent markets.

There is always a risk, entrepreneurship is at times a game of probabilities, one has to be sporting... however good one can be, he/she may get out for no reason. Entrepreneurship is not keeping end result in mind but enjoying the journey, each and every step of the path. Always expect the unexpected and then make best out of whatever is there.

"Be Like a Child... And Play! Now for Sure, Whatever is Due to You, Will Be Yours... Sri Sri"

Presentation - Stay Hungry Stay Foolish

With Continuation of A Book Review Stay Hungry Stay Foolish


Stay Hungry Stay Foolish -

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What keeps you Going

Every one of us has some goal, short-term as well as long-term, so as the companies, organizations. An organization may be the result of strong efforts put by an entrepreneur or manager, it has some direction to grow.

To drive towards goal, we are working on some path, but that path is not 100% right. When we choose some path to execute things in some and the other way some problem pops in, which actually make us understand that, this method is wrong, things you want to do should be done in some other manner. While heading toward the goal, we basically keep on correcting ourselves on daily basis.

We are correcting ourselves and so the organizations by learning, by experience and making small-big corrections and moving forward on the system and coming out with the result which we wanted. The result which we might have thought of might vary, but keeping the goal as bottom line and then heading towards it make it happen, than deciding to make the path.

The sheer value of learning everyday is what keeps you going, keep an organization going....

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Simply Make It Happen

Many ideas for the business just pops in the mind of every manager or employee, the one who doesn't wait for some one to step forward and support the idea and simply go out in the field and make it happen actually able to make difference.

The best part for any entrepreneurship is to make sure that whatever idea comes, it is executed whether there is someone to support or not.

It is basically an itch every entrepreneur has, and the only solution for it is to go out and work. Work hard to make the idea, the concept work. When the concept it clear, there is no support from anyone, then the challenging environment is something which keep entrepreneurs motivated. That fire of making the concept work make them put real hard work, which then becomes interesting and intensive.

If I feel I am an entrepreneur and have some idea then giving fair efforts to make it work matters.  In short don't wait for someone to come and help you, to support your idea. You simply go out and make it happen. When this starts happening things actually starts falling in place for you. Keep the goal on idea and then finding the way make journey more interesting.

Simply Make it happen is very sophisticated way to tell put real hard work to make your idea work, every idea has potential to make difference in some and the other way. So Simple Make it Happen...

Not All About Most Wanted Job.

This post is moved to Management Mantras

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This post it moved to After All its not Magic

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Some Thing Called DNA!!!

This post is moved to Management Mantras

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