Rajiv Talreja, Co-Founder & Managing Partner, Dreamcraft Events and Entertainment
Do you own a business or are you selfemployed?
This probably is the most critical question for an entrepreneur to answer!
If the buck stops at you in every function and every department of your business i.e. marketing sales, operations, accounts, hiring, management then its time you confront yourself with the reality that you own a JOB not a business!
Self employment is a trap! A trap where you invest your time, money, skills on a profession which is unstructured and suffers from inconsistency of effort and returns.
Think about it. Most entrepreneurs suffer from inconsistency they experience sudden highs and lows. Most people accept this as a way of life and fail to seethat this a result of a poorly designed business. No time no money, debt, stress become a part and parcel and that’s what entrepreneurs accept as the reality of being an entrepreneur!
The real question to find an answer to is 'How can business owners' break through the trap of self employment and build their business in a manner where it can grow without them to create true wealth of time and money abundance?’
Finding an answer to this question took on a TWO years’ journey where I interviewed over 300 CEO’s and Business owners from across India across multiple sectors. I interviewed and learnt from industry leaders like Kiran Mazumdar Shaw(Biocon), Ashok Soota (Mindtree & Happiest Minds), C K Kumaravel(Natural Salons) to understand the psychology and systems required for entrepreneurs to build their business from small to big from struggles to success, from being dependent on them to growing without them.
What was my quest to find an answer to help my own businesses flourish soon became my mission to help
What does one do to accelerate the performance of their business? The answer typically will be to set goals, create plans and motivate, inspire and push people to achieve the goals. Right?
Only when the business owner defines and designs strategies and systems which will allow them to reach their goal and develop the skills required to get there is when the business becomes more competent to achieve the next level results
Wrong!If you want to enhance the results of your business, then merely setting higher goals, making action plans and motivating people is not going to get you those goals. This traditional method is as ignorant as sowing papaya seeds, giving it water and sunlight and praying for the tree to give you mangoes. By laws of nature that is not possible.
The reality is if you want to accelerate the performance of your business then you got to work on the roots which influence the performance of your business. Think about it, the results your business is able to produce today, is a function of the strategies you are using, systems you are operating and skills you and your team have. Also remember, no strategy is also a strategy and no system is also a system and in most businesses, I see there is no defined strategy or system for growth.
Only when the business owner defines and designs strategies and systems which will allow them to reach their goal and develop the skills required to get there is when the business becomes more competent to achieve the next level results. Unfortunately, most business owners are so stuck in day to day operations that they are not even thinking about growth. They are stuck in the fire-fighting of month to month survival.
I always say this to business owners. If you want monthly income, then get a job. If you want to create wealth, then build a business. There is no point owning a business and only being focused on monthly survival. Build the business for scale, not for survival. And to be able to do that, you need to build a 2nd line team of leaders so that you are focused on building the differentiating strategy and systems for better growth and profitability.
In summary focus on the roots, you will get the fruits.