Sometimes, we get so daunted by the overall business target that we neglect to objectively examine/evaluate how to achieve it. Supposing, a $1M company has set itself a goal of reaching $50M in the next 4-5 years – at first glance, it looks like an uphill task. However, by doing detailed business review and mapping out strengths and gaps, one can chart a course to achieve the $50M. This will involve assessing market opportunities in your areas of expertise, understand what the market is looking for as well as what competition is doing/planning. With this understanding, the business will have a fair idea of what to focus on in the next 4-5 years and need to pen it down through a business plan.

As I’m working on a similar exercise for a client, I’m amazed at how much planning can help. Breaking down of the target into smaller achievable components is eminently possible as it distributes responsibility across various quarters. Emerging and mid-sized companies will do well to embark on such a exercise and the efforts will definitely pay off.

Popularity: 7% [?]

I am convinced that there is no single trait that matters more to achieve your dreams than self belief. Any amount of talent and resources cannot do what self belief can. This “belief” was reiterated yesterday when I met with Tushar Bhatia, CEO, Saigun Technologies, and Ankur, VP, Marketing, after a long time. Prayag had worked with Saigun some years back when they were trying to sumultaneously launch empXtrack, their flagship HCM product, in India, the US and ME. As a self funded company with big dreams and moderate means, the going was not easy. But I was amazed at Tushar’s passion and desire to make it, and hence receptivity to ideas and willingness to experiment.

Today, some two years later, we continue to stay in touch, and though the company has not yet become a house hold name, they have acquired nearly 100 customers across the three markets, and Tushar and Ankur say this is just the beginning.

Need more proof?

Popularity: 9% [?]

I recently read Gene Landrum’s Entrepreneurial Genius. Landrum, a PhD, is a high-tech start-up specialist who himself created a popular restaurant chain; he also teaches.

I picked up the book because it narrates the stories of a diverse set of well known entrepreneurs; Landrum analyzes each of their approaches individually and towards the end tries discerning some patterns.

The people covered ranged from Sam Walton and Henry Ford to Jeff Bezos and Michael Dell. Personally for me, the examples of Bezos and Dell were highly relevant and motivating while I was fascinated by Buckminster’s Fuller’s amazing genius.

It also reiterates that there are many different paths to success- from the flamboyant ways of a Branson or Trump to the approaches that interleave hard work and intelligence(Bezos). The book also has a checklist to assess one’s entrepreneurial inclination. I found it quite interesting!

I would recommend this book for anyone who is interested in understanding the “how” of entrepreneurship. It is written in an easy to read style and also has some interesting anecdotes.

Popularity: 10% [?]

Yesterday was Nandan’s last day at Infosys. As I read a news item on his farewell at Infosys, I recalled my own days at Infosys and interactions with him. I had the opportunity to work closely with Nandan while in Corporate Planning as well as Corporate Marketing.

Nandan has many positives- his big picture thinking and networking abilities have been much talked about.  I have also observed that he always has so much time ( or appears that way)- part of the reason for this is he is a master at delegation. He is also extremely good at prioritization and time management and staying focused on what matters (to him)- as he has told me many times- I am not interested in politics, cricket or movies- three things that occupy the time of most Indians- and so I have a lot of time!

All around, we observe executives who are racing against time, and projecting the impression that their life is chaotic, and that they are in a catch up mode – it is a refreshing change to meet someone who presents a contrasting picture, and to my mind, that is one key reason  for his big successes.

The other ability which is equally impressive is his associative thinking- while his memory and extensive reading contribute, there is more to it- his synthesizing skills are superb, and that is why he is able to conceptualize ideas like the flat world with relative ease.

From Prayag, we wish him all the luck in his new role.

Popularity: 10% [?]

Earlier today I finished reading an essay by Malcom Gladwell called the “Six degrees of Lois Weisberg: which originally appeared in the New Yorker magazine. Its about Lois Weisberg, an extraordinary woman with a marvellous ability to connect to just about any kind of person – from painters, artists, Chicago administration bureaucrats to flea market sellers. At the centre of her vast colourful social web, Lois was able to help people within make connections when they needed – for instance , it was at her Chicago house that Arthur C Clarke first met Issac Asimov. As Gladwell puts it, this made her one of the most powerful women in Chicago, not because she had money or worked in a power centre, but because she had something infinitely more intangible and hence more precious – social capital. Lois went out and made friends because she loved it and not because she was architecting this social web consciously.

The reason I write about this is because I believe that this is a key value of good entreprenuership – the ability to make connections that help somewhere along the line. A lot of successful businessmen – a former boss comes to mind – are inverterate networkers – and they are good at it because they enjoy it. And they are catholic about it – they will chat up airline staff with the same vigour and enthusiasm as the CEO sitting next to them in business class.

Shameen Prashanthan of the University of Glasglow explored the same ideas – that networking was a key value for entrepreneurs to focus on – in his research. (We carried an excerpt from it in an e-book that Prayag created for NASSCOM last year). He carried our research covering around 100 emerging companies which indicated that those that had spent more time building social capital also had better market knowledge – and by inference were better positioned for growth.

So, now there’s no reason to not to make that call and keep that old contact alive!

Popularity: 8% [?]

Thought leadership is something that has received a lot of attention the last few years. What is worth examining is what can be classified as thought leadership – many a time what we see appears more like thoughtless leadership! There are many companies especially among the scale players who are making serious attempts to make a difference. Among the Indian players, Infosys made a mark with its “Flat world” theme. Wipro has also been making huge strides in this area – one initiative is their research council which comprises non-Wipro people who are experts in some field or the other. The council publishes research in topical areas. Now, what does this lead to? Companies who have invested quality efforts have reaped benefits that justify the efforts – it has resulted in better awareness among prospects leading to increased leads. And, this association with topical issues can lead to better pricing and so on.

The key is in making the right kind of noises and not pass off mediocre material as thought leadership. That will only be counter productive.

Popularity: 7% [?]