Tuesday, January 26, 2010

Sixth Sense..making business work

It is with some sense of surprise that I have realized that I appear to have a quality which can help in making a business succeed. I am able to make this claim since I have seen this repeated in the case of at least three clients: in each case, the company was on the brink of collapse or in serious crisis, when they decided to engage the services of my company.  In each of these cases, the company rather miraculously started turning the bend.

And in at least two of the cases, as soon as I disengaged, the business of these companies declined as quickly.

So, do I have that Midas Touch which makes businesses succeed?  I am aware that I usually am full of positivism and that could have a possible rub off on the business success, but then so do so many others that I know! What, beyond the common and known logic of running a business does it take to make a business successful?  Is there a concept of a Sixth Sense, something which goes beyond the rule book and ensures business success?

I had never thought about looking at things in this light until someone brought this to my attention recently.  With the complete confidence that I do not possess any magical powers which are not available to anyone else, I have tried to put down some things which I keep doing quite normally in business.  I suspect that others do not necessarily do the same, or even if they do, do not do so with the same degree of diligence.  I cannot claim that the list below is a sure shot way to success, but this is what I have practiced:

  1. 360 degree view: At every point in time, it is important not to lose perspective.  That means being aware of everything that goes in within the company no matter how small or inconsequential it may appear.  Also, I have tended to dig my heals into understanding aspects of business that appear obscure to me.  As a result, my ability to judge a situation and make suitable decisions is enhanced - my decisions are not necessarily colored by a one-sided view of things. 
  2. Sense of timing: I typically make a list of things which need to be done in the business.  However, I do not rush all of these.  Some, I work on vigorously, with a sense of urgency.  Others, I let by, even when  urged by colleagues to change.  I think that there is something called a right time for certain decisions.  To unnecessarily hasten them is to make ones life difficult.
  3. Looking beyond: I remember reading a lovely phrase which said "If you have your nose to the grindstone, it is difficult to see the skies".  Every once in a while I take a break, pull my head out of the water and look around, enjoy the sights, if possible get a different perspective. At the least, smell the fresh air before getting back to the daily grind of running the business. It will surprise you as to how many times, this gives you a new and different way at looking at business.  
  4. Separating the wheat from the chaff: Every day there are so many things which happen around you that just doing the normal routine could overwhelm us.  The ability to identify the important issues and tackling them while keeping the less important ones stored for later action helps. 
  5. Decisively indecisive: Sometimes, even the very fact of not acting on some issues takes care of them! It is common belief at least at the leadership level to assume that a leader must act.  Once in a while not acting itself is a positive statement of action. A number of issues which appear to be imminently causing a collapse of business sort themselves out with time.  A question that I keep asking myself before making any decision is "What if?", and I think of the worst case scenario that could happen if I do not take a decision.  Can I afford not to take a decision and still manage? More often than not, I have discovered that there are no earth shattering events which could happen were I not to decide on something!
  6. People connect: The best compliment I received was when someone told me that I would make a great HR person. I do not subscribe to this view. However, I do know that in the normal course of the day I make it a point to address each person in the company by his name, take time out to enquire about his or her family, participate in their celebrations, remember to wish on their anniversaries, etc.  I have found that these seemingly small things matter a lot and make the staff bond better; very often, making them go beyond what would be their normal work boundaries. 

Can others not do some of these seemingly simple things?  I do not have an answer, but I guess it is a question of discipline.  My every evening stops with a mental review of the events of the day, and my every morning starts with a mental note of what needs to be done during the day.

Perhaps I dissipate some of this energy and that may be contagious! I would still suggest that those who are in business or attempting to get into one should try and apply the above six principles and see whether it works for them. It certainly appears to have worked with my clients!