Life is never black and white. It’s a mix of both as gray shade. True, ‘coz we made it so.

There were these two gentlemen seated opposite one evening, seeking my services in shedding more light about the ways and means to connect, collaborate and commence a business venture, and before they begin to embark on this journey, they thought it prudent to engage a startup consultant for guidance and directions. Well, it was very wise of these two to do some spadework right before the start, and not as an afterthought after inception.

So I say, “Gentlemen, I understand you want to set up something of your own. Fine. Is there a MoU ready?” Both erupted “Memorandum of Understanding? but that’s an agreement Naveen. We haven’t even started and you refer about MoU? That’s premature and preposterous in the present scenario. Please place it in perspective”. I agreed “Fair enough. Let’s deliberate”.

It’s not just these two, but most of us get it wrong. We are so familiar with the acronym MoU but fail to fit in the frame in our own premise but prejudiced in understanding that it’s a formal agreement between a vendor and client or a pact signed up between two entities. Why shouldn’t there exist one between two individuals within the same organization, for instance between these two budding entrepreneurs who are soon to become business partners. Puzzled and perplexed, they sit still, but quite sarcastic in expression while awaiting me to articulate.

In easing their tension, I reminisce and take them to my good old days. It’s easy connecting through anecdotes and I narrated something from my personal experience for them to empathize and easy to relate. As a boy I was always mystified by the rainbow – the seven colors and the beautiful arc that starts from one end of the sky and curves into the other, and shout with joy “mom, look rainbow” and my mom running her hand through my hair so lovingly would share “where it ends lies the pot of gold – prosperity”. With childhood innocence and ignorance, I would ask “why can’t we have our home there then?” She would smile but chide me “child, don’t dream, but work hard and you will prosper”. It was the 7 colors then. The Rainbow!

The two gentlemen were by now interested but then again intrigued as to where this ‘7’ was leading. I sensed and summed up:  “Do you have the Rainbow with you? You guys have got together but have you signed a MoU between yourselves during initiation, and before you question me again about the relevance, hear me out and then I will answer all your questions and address the concerns. Listed are the 7 salient and most significant statements as a ‘must have’ in your MoU:

Vision: Definition of the reason and rationale in initiating the business in the first place.
Individuals: The background of the people/partners coming together
Bringing: Contribution in terms of time, knowledge, investment that each Business Partner on board could bring to the table.
Get: Expectation/Return on investment for the principal stakeholders (cash and/or equity).
Yardstick: Definition of short and medium term goals to accomplish as a team.
Objectives: Articulation of Business and Personal Goals
Roles and Responsibilities: Donning, defining, and discharges duties aligning with accountability and achievement

Forewarned is forearmed. Good for you that you came on time which proves a stich in time saves nine, but how many  amongst ourselves have the clarity to communicate to the stakeholders and promoters? If the vision, ownership, rights and responsibilities aren’t black and white, how would they translate their efforts to results? So often what applies for others and outside the ambit of our organization is never applied within. Like charity begins at home, correction too starts from the self. Hope you two too got something from this conversation.”

The discussion was over.

When they shook my hands to part ways, one remarked, “we understood the significance of the MoU. Thank You. By the way, your mom was right. At the end of the rainbow, there indeed lies the pot of gold”. I smiled. Yes, Mothers are always right. And the other added, “may be other wannabe- entrepreneurs too might find this a guaranteed guideline – please do spread the word around.”

Today, they are thriving and often touch base with me, and never miss an opportunity to remind me of the Rainbow!! It did add colors to their life. Surely so.

This article is more about startups and my own reflections in starting something or help someone start. Here is one instance when a friend of mine who use to work for a very large IT services organization for last 17 years decided to quit and venture into an entrepreneurial world after having an amazing corporate career. With lots of experience in the IT industry, venturing into one more journey in the field of IT is no big deal but the difference with the new venture would be the conditions. When he asked me what would few points that I could provide him as pointers which could help set him in the right direction in his new journey, the following are the top 10 points which popped out of my mind.

We all have our school of thoughts or come from one. I am here to share from my entrepreneurial experience but on certain disclaimers that the idea of entrepreneurship varies from stage to stage. Those who start early in life has a rich appetite for risk. Youth is always like a live wire – energetic and exuberant with adrenalin pumping at an all-time high. In a way ignorance is bliss as they are gung-go in grabbing any opportunity with the “what the heck?’ attitude but the late entrant who is mature by age and rich in experience is careful and cautious by taking calculated risk of ‘look before you leap’ approach. Hence you might want to question me “is entrepreneurship only for the young and daring and not for those averse to risk or ripe in age & experience? The answer is simple: different phase calls for different prescription. There is no such staple diet that can be subscribed, but from experience I can vouch for the fact it’s a different ball-game altogether.
“We are what we repeatedly do. Excellence, then, is not an act, but a habit.” Aristotle.

The journey of entrepreneurship is a challenging one; it takes courage to take on the challenges. Entrepreneurs are those special people who want to venture into it because they feel they are worth it and go beyond challenges to accomplish something for themselves and other stakeholders.
“You will never do anything in this world without courage. It is the greatest quality of the mind next to honor.” Aristotle.

Listed are the 10 points that are applicable for anyone who plans to venture into the entrepreneurial world especially after a long stint in the corporate world and mainly for the initial/bootstrapping days of the new venture.

The 10 pointers

1. Enrollment of family members.
Enrolment of family members is as essential as the entrepreneurship. By enrolment, take the family into confidence. They are your pillar of support and rock of refuge. In moments when you are weary and worrisome, they are the bedrock of comfort and confidence. Discuss with your family – may be you want to tell your child that papa might not join at dinner time or inform your spouse that there would be late evenings and long nights. It’s important to inform them and keep them posted about progress. Their support would mean a lot during the early days of the journey in the new venture. If not for their support, their unwillingness should not act as breaks or barriers for your quest, that itself is a big support. They are the unsigned stakeholders and signatories who sign in spirit. Sometimes, the smartness of your child might surprise you – and so will their strategies.

2. Keeping Lifestyle Simple
During early days of your venture, keep your lifestyle simple so that you can increase your risk appetite. Like a fuel efficient vehicle – the more the fuel, the longer is the run. The revenue and return balance; save more and spend more wisely on entrepreneurial needs. It’s not a compromise as largely misunderstood that things comes at a cost and end up as a deterrent. No!! these saving will support your passion.

3. Not to let go of things that really matters
The mind is so preoccupied with your goals and objectives set forth in your venture that we assume life has changed and priorities shifted - what meant most must take a backseat to be replaced with your mission to accomplish. Yes! Your eyes should be on the ball, but then again don’t miss the tree for woods. You may not have the time but FIND THE TIME. Advices can be as good as it can get in directions, but the how part is for you to figure out as balancing your time is best known to you.

4. Keeping oneself busy
Could sound paradoxical as you will be busy like an ant. That goes without saying. In the initial phase, you will be in the discovery mode and things cannot be taken easily. Inadvertently, there is this tendency to let complacency creep in despite the best efforts that realization dawns only when the results are beyond repair – which might prove late. Too late.

5. Have some quick wins
Score some quick point by early closures. No! I am not pitching for ‘get lucky’ though luck has its own role to play, but push yourself relentlessly and sooner than expected you will reap the reward for the efforts invested. Invention & innovation. Nothings tastes like success. Experience a win and a whole sense of accomplishment transcends and triggers you for more wins. Once you taste success, you become hungry for more. From sales perspective, a quick win is closing a sale early.  If its delivery, then showcasing a concept to a client at the quickest turnaround possible. Have some tangible achievement – like a business order, that you can exhibit , articulate and help others relate.

6. Working on the Future Requirements. Accomplishing in small steps for those matters. Futuristic
You will have a vision at the start of the start-up. Never lose focus on the big picture even though you might be caught with all and sundry activities. More often, we are swayed and get sucked into the day-to-day activities that vision gets hazy because of the hurry and blurs with the bulging responsibilities. Don’t dilute your ideals and strive to stay a step ahead in closing the gap in realizing your vision. You might be blown by the wind and sway as it steers. If you veer off track, then correction of the your course aligning with your vision is the most viable proposition in sustaining your business venture. Else you will reduce yourself to a one-day wonder or flash in the pan.

7. Acknowledging oneself and celebrating
Initial days. Challenging times. Working towards survival that we tend to forget how extraordinary were the slogging that we actually fail in acknowledging the self in achieving. Might be modesty or self-deprecation – but you shouldn’t deny your own due. That self-denial is not self-improvement, rather self-appreciation on merit can prove to be the single most motivating factor. we are self-taught or instilled in us by those influence to expect appreciation from others and not blow your trumpet. True. Those traditional teaching have weathered many a storm and applicable as of date, but sometimes, we neglect our own self for the fear that it might sound too proud or pompous. So learn to celebrate life – cut a cake in achieving a milestone or acknowledge someone’s contribution by a small gift or something of that kind to rejuvenate and rekindle the self. Acknowledge yourself so that you are self-confident.

8. Networking
Need to many know what your new journey know. You need support from all possible corners and hence important to open all channels for you to leverage with your own contacts and take it further through your contacts’ contact. The supply-chain, the people-chain and value-chain. Take every opportunity to become your own brand ambassador and never stop selling your ideas. You never know and we all know that things happens when least expected. Connections help you stay connected and in this context learn not to undermine anyone. From my experience, I learned to treat everyone with respect and to me anyone becomes a prospect that so long they are willing, I am all the more willing to present my ideas and initiatives; schemes and strategies. The support you might get from unknown quarters will be both unimaginable and simply incredible. You never know - things happens when least expected. Also, try actively to see how you could help others in the network.

9. Associating with social projects
The norm these days, which is the often heard as excuse is “we are a startup and hence the social shift will happen when we come there”. Just because you are startup, can you stop paying salaries to your employees likewise, we can’t look the other way when it comes to our contribution to the society. It’s never “when we have enough”. We are part of the society and hence part some for the society. So we can’t absolve ourselves or abdicate our responsibilities in furthering social causes but participate proactively. “I used to complain about my shoes until I saw someone without feet”. This quote sums everything from a social perspective.

10. Playing on your strengths
We become opportunistic. Beggars can’t be choosers is the mindset. Whatever comes and whatever it takes is the attitude – more as the order of the day. But as much as possible, you should be playing on your strength or organization’s strength is– because that’s when you get success faster with lesser effort and give more value to your clients.

It’s from my own experience from which I picked these ‘ten thing to do’ – While following or practicing these 10 things might not guarantee success, it surely equips you with the required courage to take on the challenges and go beyond it. It reminds me of a wonderful saying “Life shrinks or expands in proportion to one’s courage. Waiting to Win is common to all. But Working to Win is the Mark of a True Champion!”

“Don’t become an entrepreneur, unless you know how to smile.”

Sounds strange and yet do I see you smile? May be you are sarcastic, but this article will wipe out the skepticism armed with nothing but ‘smile’ as the message.

Human endeavor doesn’t rest scratching the surface, but extends beyond the possible and to that effect, we all aspire to accomplish as much – just that some venture far off and way beyond and make a difference. Now read that as Entrepreneur – those who dare to tread on the path least walked. Entrepreneur and smile – what’s the connect?

it takes 43 muscles to frown and 17 to smile. We should just smile because it’s simpler.
Smile is simple yet powerful. There is a lot smile teaches an entrepreneur – that Solutions too should be simple to a problem yet powerful. That’s one lesson.

A smile is a curve that sets everything straight.  ~Phyllis Diller
Smile has a lot of power - to attract, the power to deal with the challenges; just a smile and the whole perspective of the situation is made definitely positive. Entrepreneurship is a challenging journey, and only when you are challenged the best of you comes out. Knowing there are challenges, one of the best armor for an entrepreneur is a smile.

The robbed that smiles, steals something from the thief.  ~William Shakespeare, Othello
You can win hearts by a smile, and the way it connects people is a compelling contact. As a serial entrepreneur, been associated with entrepreneurship,  someone asked me “what’s is CEO to you? Is it power, passion, position?” I pondered for a moment and collected my thoughts “for a CEO, it’s all about responsibility – the responsibility to put a smile on the faces of my stakeholders – Customers, Employees, and Owners (CEO). Put a smile on your employees face, they will make the customers happy, and that in turn makes the owners happy. After stating this, I smiled!

Whenever there is a problem, there is an opportunity. To look into the face of a problem and smile calls for courage which also connotes confidence. It’s all about recognizing the problem, ability to convert that as an opportunity and encashing it – is the core objective of an entrepreneur. Smile states implicitly ‘here is the opportunity’.

It takes a lot of work from the face to let out a smile, but just think what good smiling can bring to the most important muscle of the body… the heart.  ~Author Unknown
Smile. It helps. Perception matters. Impression matters. You will realize that you don’t have all the time to make an impression. More often, it’s the 30 seconds space clients are willing to provide as audience – that’s often referred as the  ‘elevator pitch’. And nothing connects like a smile. It’s like a handshake; and goes beyond as heart shake,…two smiles is a heart shake and when the hearts are connected it creates a wonderful opportunity for the brainwave to connect. So when thought is backed by a plan and followed by action is when you can expect results – this is a sustainable model for working together.

This powerful tool called smile in the physical form changes the aura of the workplace – can convert hostility to hospitality and hospitality is divinity. Whoever said that ‘A smile is something you can’t give away; it always comes back to you’ coined it beautifully.

“Smile is the simplest step to start which can pave way towards success” - Naveen Lakkur

Architectural beauty of great buildings is what’s visible and appreciated.  What’s not visible is that the 4 pillars that holds the weight of these structure. The strength of these pillars determines the size of the buildings. ‘Stronger the pillars, Larger the Structure’.  Some architectural excellence has also extended this inner strength to outer beauty.

The same way, here are 4 pillars that help you build a strong, solid and a beautiful company.

1. Integrity – without integrity nothing works. In the World of Performance (the space where an entrepreneur lives), Integrity means ‘Plan the Work, Work the Plan’. You need to have your commitment to the highest level for the word you give and in honouring it. Be it for the word given to self or to co-workers or to the customers or to the organization. Honouring the Word as Integrity constitutes as the first pillar in the game of entrepreneurship.

Mr.Azim Premji, founder of Wipro Corporation actually founded the company with Integrity as the foundation of the company. He ensured that the culture of the organization evolved around integrity and he strongly believes that integrity has and will play a key role in the growth of the organization.

2. Relationship – No game is complete playing alone. When it comes to winning the game of entrepreneurship, Who you know and How you know them matters. Relationship is bi-directional. It equally matters, Who knows you, Why they know you and How well they know you.  It’s important to manage good relationship with employees, vendors, partners, share-holders, environment, statutory bodies, customers, etc., Stronger this pillar better it is for the organization.

Mr.Ratan Tata attributes Relationship as the key aspect for the success of TATA Group of Companies. Relationships with all stakeholders has helped the group grow and expand for generations and will continue to do so.

Companies like SalesForce.com, Seibel, SAP, etc., have evolved as major global corporations by focusing and building solutions to manage relationships. Imagine the power and importance of Relationships.

3. Enrollment – Enrollment is causing a new possibility to be present for another, such that they are touched, moved, and inspired by that possibility. Enrollment of right people provides access to making an idea a reality. The journey of entrepreneurship begins with enrollment. On-going effectiveness constitutes to the growth of the organization.
Mr.Narayana Murthy’s effective enrollment with Mr.Nandan, Mr.N.S.Raghavan, Mr.Gopalakrishnan and others to start Infosys along with Mrs.Sudha Murthy to loan Rs.10,000/- got him started off on an entrepreneurial journey and over a period led him to receive ‘Global Entrepreneur’ award.

4. Existence – ‘Exist or Extinct’ is the life of a true entrepreneur. The very purpose of existence of the organization should be inspiring and for a purpose worth being. In entrepreneur’s life, keeping the purpose of existence live is the life line of the organization’s existence.

Innovation and Excellence in User Experience is always in existence for Steve Jobs, founder of Apple Corporation. Take iPod or iPhone or the MacBooks; you will see the existence of innovation and excellent user experience. That’s what makes Apple an apple, tasting very sweet…

I would say, Integrity, Relationship, Enrollment and Existence are essentials of entrepreneurship, strengthening it enables and empowers you to win the game of entrepreneurship.

———————
P.S: You have an opportunity now to empower & enable your entrepreneurial skills through Landmark Education. Senior Graduates of Landmark Forum invite you to attend Special Introduction to Landmark Forum to explore 4 pillars of winning the game of entrepreneurship, on Saturday, 19th September 2009.

Venue: Landmark Education, 3rd floor, Farah Winsford, 133, Infantry Road, Bangalore -560001
+91-80-2286-2020. (www.landmarkeducation.com)
Timing: 10:30AM to 1:30PM (India Standard Time)

You can write to or call on any of the listed members to confirm your participation. There’s no fee to attend this special introduction program. Confirmation is on first-come, first-serve basis only.

Naveen Lakkur
Serial Entrepreneur
President & CEO at
Compassites Software Solutions
Ph: +91-9880013830 or
email: naveen.lakkur@compassites.net

Siddalinga Prasad
Social Entrepreneur,
Co-founder of Kshiti Foundation
Senior Manager at Nokia
Ph: +91-9845226157 or
email: siddalinga.prasad@nokia.com

Balaji
Senior Executive
Associate VP at
Symphony University
Ph: + 91-9980102087 or
email: prof.balaji@gmail.com

S K Rao
Senior Executive
Registration Manager at
Landmark Education
Ph: 80-2286-2020 or
email: saikrao.le@gmail.com

Invitation to Special Introduction to Landmark Forum

If you are thinking that I am referring to a journey, then you are right! I am referring to the journey of an entrepreneur.

Entrepreneurial journey has 3 parts to it:
·    The Start;
·    The Drive and
·    The Finish.
All the stated 3 parts are important to be a winner.
Follow this link Start Early, Drive Slowly And Reach Safely to learn more…I am confident that you will enjoy this journey…

Every day in life is a race…all of us has been running and many a times it’s a non-stop running.  Everyone desire to win in their race, it’s also possible to win and succeed. Winners are those who are well grounded. The advantages of being grounded are profound for success.
Many in this World are interested on joining the entrepreneurial race. History shows that during the slowdown time entrepreneurship increases.  If you are in that space, I recommend that you verify that you are grounded well. It provides path to success.
Are you well Grounded? – is a personal assessment technique to get well grounded. Thus providing you a platform to have access to great results. Follow the link and Get Set to Go in your Entrepreneurial Race.

Real successful are those who can Dream and also Do. Dreamers and Doers are like two sides of the same coin, they are inseparable twins making individuals successful.

How many times have you come across or you yourself said “he is lucky” or “its magic” when someone you knew became very successful?

If you think making a dream a reality is a dream, co-founder Mr.S.A.Chandran of Essae Chandran Institute through their Monthly Reflection series shares it could be a science.

The Magic of Three: Concept, Systems, Tools

Seeing a banyan tree in the seed is not only an imagination or dream but a vision.  Begin (seed) with the end (tree) in mind.  The seed has got the potential to become a banyan tree.    Dreams have the power to spark off this inner potential.

Dreaming big is great.  Men of achievement have begun by dreaming big.  Helen Keller said, “The most pathetic person in the world is someone, who has sight, but no vision”.  Daring to dream big is excellent and is a good starting point but is insufficient in itself.  Be it in personal, family or professional life, a dream can be translated into reality only if it is followed by systems and tools.  What starts as a concept must get its flesh and blood through systems and application of tools.  No one plans to fail but many fail to plan.  Translating the dream to reality needs a systematic approach.  Only when we make a road map will we know whether we are on track to reach the destination and if need to make any course correction.

Concept:  Most of us have got excellent concepts.  It is something like building a castle in the air.  One has to go through a pragmatic way of transforming this concept into reality.  Dreaming big is good.  Implementing the dream is better.  Realizing the dream is best.  Failure to realize the dream happens in not systemizing and not systemizing and not using right tools.  Thomas Alva Edison is known for his perseverance.  He never used to accept any experiment as a failure.  He used to learn from the failures with persistence and perseverance.  He declared:  “I have not failed.  I have just found 10,000 ways that won’t work”.  Having a concept is like having a seed:  it is essential but insufficient.

Systems:  Concept cannot walk.  It is like a sign post.  It will show us the directions but it will not take us to the destination.  The systems give us a mechanism to convert concept into reality.  It will also help us with milestone to measure and monitor progress.  If the seed is a concept and the goal is to have a banyan tree, then one must sow the seed in fertile soil, water it and fence it to protect it from animals and also expose to sufficient sunlight.

Tools:  Just as we need tools to nurture the planted seed, our dream needs tools to facilitate implementation.

The visionaries are those who can see the banyan tree in the seed.  Concept, systems and tools are equally important without which the concept will only be thought in the mind of its creator.  The greatest thrill in human existence is to have an idea and give life to the idea by blood (system) and bones (Tools).  A concept without systems and tools is merely a passing thought.

“Dream is a Dream if you don’t Do anything about it” – Naveen Lakkur

We all look for different angles to a situation. And usually miss the most important one. The ‘Try-Angle‘.

This angle made Edison one of the greatest innovators of our times. He tried a 1000 times before he created the successful incandescent electric light bulb.

So let’s not be afraid of trying. Those who really tried this angle have even reached the moon.

This angle is the source for innovation. Ideas have become realities only because someone dared to try and persisted till it succeeded.

While I say we need to try to innovate, its very important the fundamentals are taken care, else your try could even kill you (I mean, you will be a looser even if you win).

Here is an illustration shared by my friend Nasir Ali on a try which can kill…

“When you discover that you are riding a dead horse, the best strategy is to dismount and get a different horse.”

However some people employ more advanced strategies often, such as:

1. Buying a stronger whip
2. Changing riders
3. Appointing a committee to study the horse
4. Arranging to visit other countries to see how other cultures ride dead horses
5. Lowering the standards so that the dead horse can be included
6. Reclassifying the dead horse as ‘living impaired’
7. Hiring outside contractors to ride the dead horse
8. Harnessing several dead horses together to increase speed
9. Providing additional funding and / or training to increase dead horse’s performance
10. Doing a productivity study to see if lighter riders would improve the dead horse’s performance
11. Declaring that as the dead horse does not have to be fed, it is less costly, carries lower overheads and therefore contributes substantially more to the bottom line of the economy than do some other horses
12. Rewriting the expected performance requirements for all horses
And, of course,

13. Promoting the dead horse to a supervisory position!

In today’s world you need to innovate even to survive, but if the purpose of innovation is not well understood, it is suicidal!

Everyone in this World requires help. Take any aspect of life; it operates on the principles of Help - Give and Get.

Did you know that, when you REALLY need help, you will SURELY get it! That’s the law of nature. But the usual thought process that accompanies each one of us is that – in our moments of need we always turn towards people whom we had lent a helping hand in the recent past. This fallacy clouds our judgment. They may not at all be the right people who can help us for that particular task, but we aren’t able to look beyond them. They may not be at all equipped to help us in the manner that we want and therefore no help comes from their quarters. In such a scenario we even risk losing the personal relationship built over a period of time as it’s a set of wrong expectations.

You need to have faith and work with open mind to sense the help which might be your way from a source you least expected…

If you are wondering how true this could be…Let me HELP you with the HELP of this famous poem ‘I Had a Dream’

One night I had a dream
I was walking along the beach with my Lord.
Across the sky flashed scenes from my life.
For each scene I noticed two sets
of footprints in the sand,
one belonging to me
and the other to my Lord.
When the last scene of my life shot before me
I looked back at the footprints in the sand.
There was only on set of footprints.
I realized that this was at the lowest
and saddest times in my life.
This always bothered me
and I questioned the Lord
about my dilemma.
“Lord, you told me when I decided to follow You,
You would walk and talk with me all the way.
But I’m aware that during the most troublesome
times of my life there is only one set of footprints.
I don’t understand why, when I needed You most,
you leave me.”
He whispered, “My precious, precious child,
I love you and will never leave you
never, ever during your times of trial and testings.
When you saw only one set of footprints
It was then that I carried you.”

- Margaret Fishback Powers

Like the above powerful analogy, we will receive help even without knowing, we are doing so. All we have to do is to keep our heart open.

Keep GIVING when others need it. You will GET it when you really need it – Naveen Lakkur

There are different kinds of assets an organization speaks about. Assets such as Cash, Gold, Stocks/Shares, etc., are the Movable Assets and assets such as Land, Building, etc., are the Immovable Asset. There are some assets meant for long term and some are highly convertible.

There is one kind of asset which does not show up in the balance sheet of an organization, that the living asset - The Human Asset. The human asset is what ultimately builds the movable assets, immovable assets, tangible assets, intangible assets, intellectual properties, etc. So, the Human Asset is the Super Asset, lets focus on that…

The human assets are constituted by The Head, The Legs and The Belly.

1. The Head - Employees who contribute to the top line of the organization. They relate to the brand image, brand equity, order bookings, etc.,
2. The Legs – Employees who contribute to the bottom line of the organization. They help in keeping the organization moving or running the show such as the profits, the productivity, etc.,
3. The Belly – Employees who do not either contribute to the top line or the bottom line. Some times they act as the negative force and slow down the momentum of the growth of the organization.

Unlike other assets, the living assets have a very different management process. Organizations should be careful in the cycles of Attaining, Training and Retaining these assets.

“Is your pot belly growing?” A question to be asked by every organization and definitely the startups cannot afford fat being accumulated.

Attain right people; continuously train to burn the fat and retain good people…

‘Beg, Borrow or Steal’ is the most popular saying which rings in the mind when there’s need for funds for an initiative. No question that funds is one of the most important ingredients for an initiative to sustain. It’s also known that every initiative should reach the phase of sustenance quickly to survive and to keep the initiative going and also to set a stage for the growth too. (Reference to one of our earlier article: Business Maturity Model).

You have a choice for your initiatives to either Beg or Borrow or To Steal. I think these are exceptions; there’s another option which is never spoken about much because it’s the rule. The best way to sustain any venture is to follow the “Earnings Model”. This model guarantees sustenance as it makes an organization self-sufficient by generating cash flow through earnings. This is the most critical model for any startup. This ensures momentum and assures sustenance on a long run.

This model not only is applicable to startups, it can be applied to any small initiative in an organization. We recently had an application of this concept for the COACH program in our organization. The COACH program is the employee social responsibility initiative at Compassites. Funds for COACH were available only through donations earlier. Now the earnings model has been followed. The COACH team sells snacks at premium, they organize events, they organize movie shows, create and sell paintings, and many more activities thus making the COACH program a more sustainable venture within the organization.

“Earn to Spend, Your spending becomes more meaningful” – Naveen Lakkur

When you are in love the following is something that happens naturally:

$ You prepare very well for it.
$ You present yourself very elegantly with a lot of zeal and enthusiasm.
$ Your discipline and punctuality is impeccable.
$ You connect and communicate very effectively.
$ You are at your best and nothing less than the best

Is this not true?

When you analyze the best performances in your life (work or business or sports or any activity), all the above points would be true and you will discover that you have always excelled when you did what you have loved, thus producing great results along with loads of satisfaction.

This is because when we love what we do, we connect with our heart directly. This is what that great leaders and entrepreneurs are made off. They are intensely in LOVE with what they are doing. Their LOVE is undying and unconditional and their passion helps them surmount any obstacles and challenges they face.

All eminent leaders have followed this attitude towards their work and this is what makes them great. They also love and motivate the people they work with.

Tim Sanders has written a bestselling book on this very topic “Love is the Killer App.” The book’s premise is that we will find success in business by helping others grow, by sharing our knowledge and by loving the work we do and the people we work with.

True leaders realize that Love is the basis of everything in life. The sooner you adapt to this, the easier it is to be more successful.

“Fall in Love with whatever you do, others will think its luck” - Naveen Lakkur

This is the Valentines Day effect…

One common asset everyone inherits while trying to achieve success in their life is “Stress”. The amount of stress varies from individual to individual and situation to situation. Many times it’s also directly proportional on how fast an individual wants to climb the career ladder.

Each one of us strives hard to distinguish ourselves from the crowd, and in the process add to our already existing stress level. But very few actually can over ride this stress wave and be successful in their career. The question then that raises its hood is “Are these successful people immune to stress? If not, then how are they able to manage it so well?”

I learnt from Mr. Jnan Dash (a technology visionary and Silicon Valley veteran) the definition of Stress. He says, “Stress is the delta between ‘What you project you are’ and ‘What you really are’.”

Let us answer the above question with the help of the above definition.

The key to success is by working smartly and reducing the gap between the two levels. This starts with first realizing “Where you are actually” and then acting on “What needs to be accomplished” in an effective and efficient manner.

Please note that ‘Where you project yourself determines what you become’.

Success = Delta(Projected, Actual) = Stress - leads to growth

Failure = Delta(Actual, Projected) = Comfort - degenerates

It’s common to long for the comfort zone in our career not knowing that it disables our skills silently. Whereas every stress that comes along is actually a challenge and opportunity in disguise. You should see the opportunity not the problem. And then experience the wonder it creates to your career.

Entrepreneurs treat their Stress as An Asset !

Risk is an inherent part of any business or even life itself. The success of any organization depends on how it is able to mitigate and manage its risk.

It’s just not enough to assess and know ones risk appetite, it is also important to consider other factors such as:

$ Risk : Reward (Risk Reward Ratio) - What is the forecasted return? The return is the reward for the initiative.

$ The Timing - When should the risk be taken?

$ Building Buffer - 80:20 rule applies here. For example, if your risk taking quotient is 100 you should take the risk upto 80 and the other 20 is the buffer. Navigation (forward movement) is second to survival. Imagine yourself in water, your body constitutes to 80% and the head (including the face) constitutes 20%. You need to breathe to survive, so keep your head in the air.

$ Logical Link – The decisions should be rational. Follow the logical flow.

We have heard that ‘High Risk, High Reward’, then the question is ‘How to Increase the Risk Appetite?’

One of the ways to increase risk appetite is to share the risk. It should also mean to share the rewards appropriately.

The following points will help an organization to increase its risk appetite:

$ Strong Structure – The foundation of the organization should be strong. (a) Best leverage of the network of people in the existing circle. (b) Having a compelling business model and right processes to facilitate. (c) Getting strong board members to provide solid foundation and (d) Getting good advisors which strengthens the structure of the organization.

$ Powerful Partners – Get the right kind of people to invest in right proportions. They should also add great value.

$ Correct Configuration - Bring in committed complementarily skilled people to work together.

These will reduce and minimize the impact of the risk, in other words it will increases the risk appetite and will enable organizations to scale to greater heights.

“You miss a 100% of the shots that you never take” – Wayne Gretzky

Our life is a reflection of the suggestions that we have been receiving throughout. At some time or the other we have received them from our parents, friends, teachers, our colleagues, managers, supervisors, etc.,

Suggestions are surely one thing that has been omnipresent in shaping our life. What is very important is from whom are we getting these suggestions. The question we have to ask is whether the person is a trusted and an authority to give us the suggestion?

Suggestions play a very important role in shaping our professional life. In reality, it’s quite difficult to get one person who can give us all the good suggestions that are required because no one individual is a master of everything. This is where books play an indispensable role because they are the eternal guides for life (self-development) or for business. We can learn a lot by reading good books. Books have changed lives. My own life is an example because my professional life got shaped by a book called “Tough Times Never Last, But Tough People Do!” written by Dr. Robert H Schuller. I read it about 15 years ago, just before starting my professional career and it triggered in me to take some steps in life, to have and build self confidence, to take risk and to become some one…

It is important for us to find someone who can give us valuable suggestions for making decisions and that too better decisions. Not making a decision is the worst decision that one can make. Suggestions play a big role in taking better/correct decisions. Today, I can say proudly that there is a system called “Suggestica” (www.suggestica.com) which will help us in getting the best suggestions from the experts of various disciplines. You can take advantage of it to radically change your life for the better.

* For those who are yet to start a new initiative, Suggestica will be your platform to provide a good start (a good start is half done…).

* For those who have started an initiative, Suggestica is a perfect platform that will help you to learn more and trigger you to take a lead in what you do.

“Suggestion matter and so is your Decision” – Naveen Lakkur

Suggestica provides you suggestions for your life; it’s time that you make decisions…