Experience, Experiment, Explore: Three-Step Business Owner's Guide

Remember the time you decided to venture out on your own? The days of struggle, the relentless researching, never ending enquiries, possible networking opportunities, word-of-mouth promotions, and a one-man army that was ready to take on the world. A while later when you succeeded in your area of expertise, you considered diversifying. But this decision had to be made after a thorough risk analysis.

Taking risks is a part of business. But if you kept saying yes to every risk, without weighing the pros and cons, you could have also lost your business. When it comes to maintaining the margins in the balance sheets, it can be extremely tempting to oblige to any project that comes along. But if it’s not a cultural fit and does not agree with your business ethics, it can do more harm than good.

While there are no official rules as such for the business to flourish, I personally recommend these tried and tested golden guidelines.

Experience: A much-needed reality check to keep you rooted

While business school taught you a lot, it could never replace first-hand, on-ground, hands-on experience. That eventually came from having observed the industry and its evolving trends. But what if it could have been an easier journey?

Earlier, the industry was volatile and uncertain. Now, it is ruthlessly competitive. A mentor can not only help you plan for the short-term deliverables but also aid you in strategising long-term goals. A wider perspective towards your career will help you plan better. In times of confusion, a veteran can groom you to make quality decisions even when there’s a crisis to be handled. Giving you that much needed push when you are low, but also critically evaluating and providing feedback, when you end up getting used to looking through tinted glasses.

Breaking Down Silos at Work

All businesses have hierarchies to facilitate the division of work. A decentralized system is efficient as it comprises departments with the required expertise in respective fields. However, the same system that vouches for smooth functioning can also create issues in the giant machinery of an organization.

Often, ‘silo mentality’ creeps in at several levels and establishes itself as an integral part of multi-departmental functionality. It is estimated that about 70 percent of executives see silo mentality a major obstacle in achieving goals. But what exactly is it and how does it impede progress?

We have seen tall structures used to store grains. These installations remain isolated with no windows or access to the materials kept inside. This serves as a perfect analogy to the way things operate between teams with a silo mentality.

Dealing with Politics at Work

About a year ago, in an organisation comprising 100 employees, a high-performing employee who had spent seven years in the company was wrongly fired. The IT team detected a security breach in the system that traced back to his computer. Only after an investigation was it determined that he was framed, and the breach was a ‘planned conspiracy’ in the greed for promotion.

Be it a start-up, SME or an MNC, politics has become an inseparable part of organisational structures. Here's how to deal with the mind games.

Admit to the problem

About a week ago I came across an interesting article that spoke about the relationship between an empath and a narcissist. The former believes in peace-making while the latter has become habituated to winning. You need an intervention when you realise that the team is falling apart or even worse, when you get a sense of groupism at the workplace.

It’s time to wise up and dismantle your opposition’s plans. Take a step back. Think of all the times your gut has told you that something was amiss, and you overlooked it assuming it is a minor hiccup.

5 Tips to Transform Yourself into an Entrepreneur

“If everyone is moving forward together, then success takes care of itself.” – Henry Ford

Finding the right talent is a task. But when you do find the perfect match, helping them evolve into a leader becomes the organisation’s responsibility. ‘Corporate intrapreneurship’ perfectly defines the struggle of organisations to acquire the right talent. It basically means setting up a self-sustainable ecosystem that will ensure a strategic evolution of the existing business, for the future generation leaders.

Intrapreneurship thus, becomes a mindset. A journey of an individual evolving into an employee who thinks of the organisation as their own. An employee from within the organisation with an entrepreneurial mindset and the resources at their disposal.

Here are five attributes that set intrapreneurs apart from the rest of their peers.

1) Ownership – Not just a job

“This is my company” Intrapreneurs promote the workplace culture with a strong sense of belonging. Right from exercising financial prudence in deciding which vendor to work with on projects (without compromising on quality) to exerting a strong will on making things happen 'the right way'. From being at the forefront to driving an initiative, to leading by example and becoming an inspiration for others to follow – they exhibit a strong sense of accountability.

Six Ways to be Happily Engaged at Work

In 2015, a report by Gallup Inc. gave an insight into the mindset of employees and their attitude towards work. The study stated that about 51 percent of workers were not engaged to their duty whereas 17.2 percent displayed active disengagement. This meant that only one third (about 32 percent) of the workforce saw their work as an enthusiastic endeavour and an opportunity to grow.

These figures suggest that a majority of employees remain dissatisfied with their work. One thing is certain; engagement works from both sides of the fence. Besides a conducive workplace environment, an organisation thrives only when its employees have the right notions about their duties.

There are no set rules when it comes to engaging yourself at work. No doubt, getting a job done is your number one priority. But what if you could adopt a mindset that helps you achieve your goals and simultaneously, gives you a sense of satisfaction? Here’s how you bring out the best in yourself and have a great time chasing those deadlines.

Find a motive

Our emotions have a profound influence on our point of view. If you are going through emotional turbulence, its effects hamper your actions. The far-reaching consequences ruin your entire day. There are times when we let emotions dictate our moves, often leading to unfavourable outcomes. However, sensitivity should be an advantage and not an impediment.