Saturday, March 30, 2013
Saturday, March 23, 2013
We are bound to have NPAs, tax evasion and everything else that is wrong with business and corporate sector.
Every profession needs training and subject knowledge to practice. There is nothing such for entrepreneurs. No entry barrier. No prerequisite or training or skill set check – nothing.
Everyone wants to become entrepreneur. Form small Panwala to large businesses – all are entrepreneurs. Whether one like it no, many of our entrepreneurs do not know WHAT and HOW of business. We have degree holders engineers, textile designers, graduates , under graduates, uneducated everyone you will find is doing business.
Why many of our real estate developers are in trouble? Asset rich but Cashflow crisis , why many are good at borrowing but do not know neither their overall cost of capital nor profit margin ? why many business just survives on tax evasion? Why smartest of IITsians fails in business? Why smartest of MBAs are failing in business?
There is a large number of entrepreneurs who do not know difference between cash-flow and profit They assume cash flow as their own money and live accordingly. Many would assume hefty margin to be the only think they need to take care of.
Business acumen is one part and its is necessary however knowing what is the success and what is the parameters of financial success is equally if not more important. Many of the entrepreneurs illiterate about this.
Deduct from your stated profit tax evaded, dead stock , bad debt , required provisions not made and you will know what your real profit is.
Deduct from cash-flow , creditors to be paid , dead and slow moving stock , add receivable debtors and salable stock to know whether you are spending your own money or borrowed money?
Knowing all these critical data is very important for every entrepreneurs to know. Unless these are known acted upon to improve, leakage will continue and entrepreneurs will keep living on borrowed money, bankers will face splurge of NPAs and tax department will have long list of defaulters. How many businesses can afford to hire CXOs ?
Even the biggest entrepreneurial example we give of our time faces charges of business without integrity. That success story is based on many wrong doings.
There are entrepreneurs who thrives on tax evasion, who thrives on corrupt business practices, who thrive on bending rules of the land and who thrive on ignorance. Rest are really thriving. Select your real category.
Entrepreneurship is in vogue , it is important however we also need preparation for that. Institutions like TIE and many others are doing great job but its spread must expand and expand very fast to all size , sector and geographies.
Friday, March 22, 2013
Monday, March 18, 2013
Reasons can be many 8 or 18 or even 80.
Blogging is about:
- expressing the self ,
- expression in what yo believe in,
- expression of your point of view,
- sharing your world and work experience,
- it improves your writing i.e. communication skills ,
- it improves your subject knowledge you are writing about ,
- it makes you known for your area of interest and expertise ,
- if you have something to say and share with the world, you need to blog ,
Yes in the world we are in today BLOGs are huge opportunity to create our own platform and our own audience. Opportunity like this was only available to a select few, few years ago. Its a great equalizer.
Select your subject, blogging platform, blogging schedule , blog promotional strategy on social media like Facebook, LinkedIn ,Twitter, Pinterest and write your first Blog.
Content is King and Blogging by you creates content for brand YOU.
Question is : Why do you think you are not blogging yet?
Wednesday, March 6, 2013
Before you spend single penny on so called CSR, please check your happiness scorecard of employees, customers and community you operate in , tax evasion & other corrupt practices your company is indulging in.
SR of C starts from with-in and goes with-out after taking care of everyone within. Most companies neither take care of their employees plight and life nor sincere in paying their Govt levies and rampant indulgences in corruption for getting benefits.
This kind of companies doing CSR is neither SR nor desired by the society.
Purpose of any CSR initiatives is to bring happiness and cheers for the under privileged. Now this objectives can not be achieved by money generated out of unhappy & stressed employees, anti social business practices of tax evasion and corruption.
First and foremost SR of any corporate is be socially awaken towards people , community and environment impacted by the enterprise. Abide by the laws of the land and then and only then indulge in so called CSR.
We do not want a situation where in a thief robs people and donate to temple and by that means justify robbing.
Don't indulge in corruption, pay your taxes right, keep your people happy, keep your customers happy, keep your community happy and pollution free and if then if something is left including desire then look for CSR opportunities not before. All CSR initiatives must be judged on this count only.
Wednesday, February 6, 2013
Yesterday got news of one more premature death (heart attack) at the age of sub 30. That reminded me of my 2011 blog We all are dying in EMI - Courtesy Job Related Stress . The deceased was working in forex dealing room. Probably one of the most stressful jobs.
Forget the nature of job, all jobs have become stressful , huge demand on human being at work place. Why? Cuz Finance professionals have taken over the performance matrix. Only and only finance matrix is considered to evaluate the success of the entity. At the cost of mass stress and unhappiness , handful of the shareholders are enjoying fruits of success. Our models and matrix have become unsustainable. Forget environment and community, people working for the organisation are facing biggest threat.
This CSR drama must end and actual CSR must start from within. Within the organisation. Making their people & customer happy is the real CSR for every business. What is the fun of CSR when there is tax evasion , poor quality , mis-sell & pathetic people policies?
Zapposs of the world and happiness officer like Alexander Kjerulf of the world MUST spread like avalanche in the business world. We must have happiness matrix given equal if not more importance to finance matrix to measure success of the enterprise.
We are talking about sustainable business practice, starting point is - happy employees & happy customers and not just shareholders.
Friday, January 18, 2013
To better customer experience BAN all out bound call centers. Your brand experience is getting diluted by mindless calls.
I know some reputed brands having lousy call center policy which irritates. Irritates recipient of your calls. Outbound call centers irritates more than it can sell.
Sometimes irrelevant things not given attention drowns the entire experience. Don’t leave anything to chance and out of your customer experience design spectrum.
Bottom line : Your customer experience is as good as your weakest link in the chain/touch-points.