Kapil Tandon

CEO Challenges for the 21st Century Business

/ Leadership

Business practises date back centuries when there were small businesses with local customer bases and little socioeconomic pressure. With rapid industrialization in developing and developed countries, the business has grown in size and complexity over the years, becoming multi-product and multi-location (and multi-national), and serving a diverse range of customers worldwide. A modern business is distinguished by the predominance of several socioeconomic factors.

Business, as we know it, is about trading – buying and selling and using money as a medium of exchange. Apart from trading, a business may also be involved in manufacturing, managing any kind of transformation or conversion process where certain inputs (like physical, human, financial and informational resources) are processed to be converted into useful products or services. These processes create significant value addition. This value addition forms the basis for surplus generation and/or profit creation in business. 

Business and the business environment have been changing at a fast speed – both the changes and the speed of change are very important. As such, the impact of the socio-economic state and structure of the region (and the rest of the world) has become very important in business.

So, in this context, the CEO’s job has become invaluable. 

The entrepreneur, the full-time director, or the CEO charged with managing the day-to-day operations of a modern business enterprise must therefore wear several hats in order to achieve an impressive bottom line in their business operations. They must build an effective and self-motivated team of competent employees, create world-class internal business processes, and implement appropriate mechanisms for delegation, decision-making, execution, monitoring, and control.

With this goal in mind, CEOs must frequently invest in training programmes for themselves as leaders in order to recognise and overcome workplace challenges. These coaching programmes, which are frequently executive coaching programmes or leadership training sessions with an experienced executive coach, assist CEOs in learning the skills and tactics that effectively assist them in identifying challenges and learning how to overcome these challenges for the betterment of the company as a whole.

A CEO both manages and governs.

Further, the CEO managing a modern business enterprise must distinguish between corporate management and corporate governance – they have to perform both the management and governance functions simultaneously in the best interest of the organization.

What is the difference, you may ask?

Corporate governance differs from corporate management in that governance is primarily about protecting a business, while management is more about growing it. 

Corporate Governance

Corporate Management

Governance refers to the policies and procedures set in place to ensure a business operates within the law and for the optimal benefit of all stakeholders. 

Management refers to the techniques executives use to help the company operate and flourish. 

For example, governance policies might include prohibiting a board of directors from awarding contracts to board members’ companies or the companies of family members. A business might require its accounting department to have two signatures on any cheque it writes to reduce the threat of fraud. 

Examples of management include setting budgets, giving staff members directions, and making strategic plans for marketing or product development. Corporations usually have management teams once the company becomes too big for the founder or one individual to oversee the entire business.

So, what are the challenges for a CEO?

Building knowledge

Any new CEO should take the time and resources necessary to thoroughly review all aspects of the business, including current positions and responsibilities for all employees, all processes and procedures that are currently in place, short-term goals and long-term objectives, growth, and development opportunities within the company, and so forth.

Taking feedback

CEOs must gather feedback from team members to see where the company may be lacking that could contribute to employee turnover rates or where there are areas for improvement, such as the need for additional resources in a certain department.

Tackling Inertia

The CEO must pull themselves away from what was previously done and fully evaluate every aspect of the business to ensure only the most productive and efficient tactics are in place to retain talented employees and keep revenue flowing.

Making those unpleasant decisions 

The CEO must take the entire company into account when making important business decisions. If the majority will benefit from a particular decision, then it is often best to move forward with that decision – even if it makes displease some colleagues you previously worked with closely.

Executing change

CEOs must understand that change is accepted, but it must be put forth at a pace that employees and other stakeholders can adapt to. CEOs cannot simply implement rapid changes without taking into consideration how team members and clients, or even investors and supporters, will react to these changes and how fast they are being executed.

Being a CEO of an organization is a great honour, but with this honour comes along with great challenges as well.

References

Mattone, John. “Top CEO Challenges and How to Overcome Them.” John Mattone Global, Inc., 26 Aug. 2022, johnmattone.com/blog/top-ceo-challenges-and-how-to-overcome-them.

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Leadership traits set an entrepreneur apart!

/ Leadership

A great entrepreneur should be a competent manager and an effective corporate leader, in addition to having a holistic entrepreneurial personality. The thoughtful incorporation of these three roles into an entrepreneur’s overall persona will greatly assist them in effectively and efficiently managing their business enterprise/project(s). 

As managers, they will be able to mobilise all necessary physical, financial, human, and informational resources to create value in the enterprise operations. An effective leader will be able to shape an excellent organisational structure with competent and skilled people all around who can discharge their functions in accordance with the slated enterprise objectives. As a corporate leader, the entrepreneur will also play an important role in developing a leadership pipeline through which they will be able to develop the skills of many middle managers to become future corporate leaders.

What can an entrepreneur do to facilitate the growth of future leaders to take the work forward?

To create a leadership pipeline, the entrepreneur should concentrate on development and integrate succession planning with leadership development to ensure the skills future leaders will need. This process should be fairly transparent and regularly monitored. To further develop this leadership pipeline, the entrepreneur should teach managers the power of storytelling, give them challenging assignments, launch a mentorship programme, provide skill development and cross-training opportunities, and, last but not least, assist them in embracing change.

I can confidently lay out certain suggestions for young entrepreneurs to prepare their future trajectories for becoming effective corporate leaders based on my own experience over the last four decades. I have dealt with many managers and corporate leaders involved in the operations of business enterprises or in the execution of medium and large-sized projects. I have included some of these suggestions below for my readers:

BE OPEN TO LEARN

The most important success mantra is to approach learning with an open mind. You must cultivate a strong learning orientation and be willing to learn from your own experiences and mistakes, as well as the experiences and mistakes of others. To improve learning, you can establish libraries in your organisation, assign appropriate mentors, host master classes led by experts in their respective fields, and do a variety of other things that come to mind. The basic idea is to work on developing a knowledge management and learning management system within your organisation.

FAIL FORWARD

Making mistakes and experiencing small and significant failures while running a business or working on a project is quite common and natural. I always advocate for ‘failing forward,’ which means celebrating your failures, learning from them, and moving on. This is an excellent habit in all successful entrepreneurs – they always hold the attitude, “I did not fail, my project failed”. Someone correctly stated that failure is simply postponed success.

CELEBRATE MILESTONES

Banish self-doubts by acknowledging your accomplishments. Post your daily successes and celebrate these with your colleagues. This habit will keep your confidence level always high. Cultivate generosity all around your organization. Make gratitude a part of your company culture.

At an organizational level, one could think of customer retention as a priority. Customer retention is critical because acquiring new customers is much more expensive than retaining existing customers. Customers who have returned are also more likely to engage in word-of-mouth marketing or become brand ambassadors.

COMMUNICATE WELL

Constantly and regularly hold short and long meetings with your team members to effectively communicate with them. Create enthusiasm and empower your people so that you can engage them in meaningful activities. Instil confidence in your team members and inspire your people.

At an organizational level, all critical information about the company’s operations and growth should be disseminated throughout the organisation so that every employee at every level has access to it.

An entrepreneur will do well to use such “applied wisdom” to generate and improve fantastic results throughout the organisation. Top-down, bottom-up, diagonal, and lateral communication should be promoted throughout the organisation (particularly about the enterprise’s vision, mission, goals, and objectives) so that every employee/member understands his/her exact role in the larger picture. Improving communication in the manner described here will also aid in the promotion of inter-departmental coordination, employee engagement, cooperation, and synergy.

IMPROVE 

Always keep improving on your processes and systems – what we also refer to as ‘Kaizen’ means continuous improvement. Break your current mould (if you feel that is required) and think independently once again. Always go for out-of-the-box thinking (also known as lateral thinking) as and when you confront problems and are required to engage in troubleshooting.

At an organizational level, employees at all levels should be provided leadership training so that an effective leadership pipeline develops from top to bottom at all levels. Key Performance Indicators (KPIs) for the entire enterprise and Key Result Areas (KRAs) for key executives should be determined through a structured process and monitored on a regular basis to optimise enterprise operations.

Companies or enterprises may differ outwardly by their products/services or their line of business but essentially they all have certain common core characteristics. I hope this article helped you to think about your own project better! Let me know in the comments what idea resonated with you!

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What does it take to be a proactive entrepreneur?

/ Leadership, Business

The term proactive, as most of us understand it, refers to taking action in advance to deal with an unexpected problem or difficulty. Proactivity at work enables a person to act quickly and take responsibility in order to prevent problems from arising. This anticipation aids in reducing workplace stress and maintaining a pleasant organisational climate. Proactive person does not expect their leaders to notice a problem and incubate solutions. 

There are many examples that demonstrate this concept.

Notice that when a company conducts a customer survey on its products or services, what is it actually doing? It is taking proactive steps to improve the service it provides to its customers.

Consider another example: a city is taking a proactive approach to crime prevention by hiring more cops.

A proactive person, according to Bateman and Crant, is someone who takes action to influence environmental changes. A proactive entrepreneur will first identify opportunities before taking action and persevering until they have reached a conclusion by bringing about meaningful change. Merriam-Webster defines it as “acting in anticipation of future problems, needs, or changes.”

Being proactive means focusing on what’s important, not just what’s urgent. Proactivity is a vital part of creating massive success, and it’s the only way to reach your full potential.

A reactive (rather than proactive) person is at the mercy of time constraints and outside influences. Because the sense of urgency frequently trumps the sense of importance, many of us spend our days stuck in an endless loop of promptly responding to irrelevant emails, agreeing impulsively (without giving it much thought) to routine meeting requests from stakeholders, and attending to a variety of other unimportant (but urgent) communications/activities. 

However, keep in mind that proactivity always outperforms reactivity.

After all, reactive tasks are self-evident; these are the urgent day-to-day chunks that most people do automatically. And it’s not that reactive tasks don’t need to be completed; it’s just that they don’t have to be completed right now, and they don’t have to be completed by you.

Proactive tasks, in comparison, necessitate more thought and effort. They are the projects that have a significant impact on your company; the great ideas you’ve been putting off until you “have more time.” These tasks could include creating a compelling list of reasons why a specific feature is important for your product to move the company in that direction, or writing a blog post to develop thought leadership in your market. 

In a nutshell, proactive tasks are strategic initiatives that bring you significantly closer to achieving your goals. 

“Proactive people focus their efforts in the Circle of Influence. They work on the things they can do something about. The nature of their energy is positive, enlarging and magnifying, causing their Circle of Influence to increase.”

Stephen R. Covey,
The 7 Habits of Highly Effective People: Powerful Lessons in Personal Change

So, what does it take to be proactive?

In a word, discipline. 

Here are some of the reasons why self-discipline is so important: 

The world will put your resolve to the test the moment you begin incorporating proactivity into your life. Emergencies will arise, demands will rise, and you will be tempted to revert to ineffective, reactive behaviours. So, You need unyielding self-discipline to stay proactive in a reactive world; you can’t always control your circumstances, but you can manage your response. You have the option of remaining proactive.

Not only that, you will be confronted by procrastination. Procrastination leads to pressure, which leads to stress, and stress severely limits your brain’s creative processing abilities. As we all know, creativity is an essential component of proactivity; therefore, procrastination renders you incapable of being fully proactive.

References:

  • Ewers, Patrick. “How to Be Proactive: A Guide for Entrepreneurs | Better Humans.” Medium, 25 Jan. 2022, betterhumans.pub/the-definitive-guide-to-understanding-proactivity-and-becoming-a-proactive-entrepreneur-558ecf3a755d.

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Where are your classmates now?

/ Motivation

I encounter a plethora of stories that teach me business lessons, life lessons, and beautiful emotional reflections. Recently, I came across a story that really struck a chord with me. I wanted to share this story by an anonymous author with all my readers:

“WHERE ARE YOUR CLASSMATES?”

A 60-year-old man was suffering from major depression, and his wife scheduled an appointment with a therapist.

“He is in severe depression,” the wife said, “please take care of him.”

While the gentleman’s wife sat outside, the Counselor began his counselling by asking some personal questions.

“I’m too worried,” said the gentleman. “In fact, I’m overwhelmed by concerns: family issues, job stress, friends, children’s education, mortgage loan, car loan, and so on. I’ve lost interest in everything I used to enjoy. The world sees me as a cannon, as if I have everything, but I don’t have as much as a cartridge. I’m in a perennial bad mood.”

The skilled Counselor then inquired, “Which secondary school did you attend?”

The gentleman informed him of the school’s name.

The counsellor suggested that you visit that school. When you arrive at school, look for your ‘Class register,’ if it is still there, look up the names of your classmates, and try to learn about their current well-being.

Write down everything you learn about them and meet with me in a month! The gentleman returned to his old school, located the register, and copied every name on it. There were a total of 120 names.

Despite working day and night for a month, he was only able to gather information on about 75-80 of his classmates.

There were surprising outcomes!!!

Twenty of them had died. Seven were widows or widowers, and thirteen were divorced. Ten of them turned out to be drug addicts. Five were so bad that no one could connect with them.

Six were so wealthy that he couldn’t believe it.

Some had cancer, others were bedridden, and still, others had diabetes, asthma, or heart disease. A couple of them were doing alright but their children had turned out to be insane, vagabonds, and so on. One was imprisoned.

After two divorces, one person was looking for a third marriage.

“Now tell me how your depression is,” the counsellor inquired.

The gentleman realised he didn’t have a disease; he wasn’t hungry, his mind was perfect, and he wasn’t unlucky. He was fortunate that his wife and children were in good health. He was also in good health. He could eat three meals a day. His difficulties paled in comparison to those of others.

The gentleman realised that there is a lot of sorrow in the world and that he was fortunate and happy!

When I came across this story, it put things into perspective for me. I am grateful for my life and the unique problems that have been given to me. For me, the lesson is to stop peering into other people’s plates (especially other people’s fortunes and misfortunes). Instead, we must accept our bounty with love and grace. Don’t measure your life against the lives of others.

Everyone is moving according to their destiny; you are neither late nor early. We must be grateful for everything, big or small, good or bad.

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How much does perception matter in business?

/ Business

Before starting a business, an entrepreneur must form an opinion about all major aspects of his or her venture. Setting such a perception is critical regardless of whether you are pursuing a commercial venture for economic profit, a not-for-profit business, or social entrepreneurship. Setting a genuine perception for your future venture will also work wonders for categories such as consultants, educators, homemakers, and others who are considering starting their own businesses now or soon.

It is only natural to wonder what role perception plays in business growth. If applied and used correctly, it can play a significant role in assisting the business to grow and survive in the market. It gives the company a new perspective that will help it thrive in the future and develop leading business opportunities. It is critical to always keep in mind what perception you are projecting.

In business, perception is extremely important. It is important for you to know whether your customers perceive you as cheap and nasty or exclusive and expensive. Are you perceived as an expert and experienced professional, or as a novice with no idea what you’re doing? Perception has far more implications than we can imagine. It has a significant impact on how we define and do things in our social, personal, and, of course, business lives. It is a crucial aspect of business, especially when it comes to marketing.

The company must ensure that its advertisements are relevant enough to persuade the customer (without resorting to any kind of manipulation or trickery). We want to highlight our best qualities in order to present ourselves in the best light possible.

One of the key factors that influence consumer perception is exposure to the products. Naturally, if a customer has more knowledge about a product and is satisfied with the information provided, they are more likely to buy it rather than something they haven’t heard about or seen yet. This is where publicising a company’s offerings comes into play. Educating our customers is an important aspect of marketing, perception and effective selling.

Furthermore, when manufacturers of goods and services include appropriate guarantees and warranties with their offerings, it reduces customers’ perceptions of risk, especially if the item is expensive or large.

Finally, once a customer has purchased a product, it is the responsibility of the business to ensure that the customer is not lost. The company must maintain a positive reputation and foster brand loyalty. One way to accomplish this is to provide better customer service, which helps to maintain the perception that the company cares about its customers’ needs. In this way, the customer develops loyalty to the company, generating a consistent revenue stream and making it more difficult for competitors. The customer must believe that they are valued and cared for.

Here are some real-world examples of how perception plays a role:

If your company uses Hotmail or a free email account, it indicates that it is not professional, established, or serious about business.

If you have homemade or low-cost business cards or flyers, it indicates that your company is low-cost, that it is your new hobby, and that the business has not been properly set up.

If your company is not GST registered, it is safe to assume that it is small (or that its annual revenue is not huge).

If you are late for appointments or do not show up without prior notification, it demonstrates that you are disorganised.

If you are consistently late, it demonstrates that you do not value time.

If, on the other hand, you are immediately available, it indicates that there are few clients and that the workplace is quiet because there isn’t much business. The perception may cause them to doubt your ability and capabilities.

If there is no website, it appears unprofessional or uninterested in business.

If your documents or website are riddled with errors, it gives the impression that you don’t care enough about your company. “Will you care about me as a client?” it implies.

If there is a wait for an appointment with you, it indicates that you are busy and must be working hard.

If everything that you do insists on paper, i.e., if your workflow is overly paper-based, you are sending the message that your workplace has not embraced technology and is is behind the times.

I hope this article was useful to you. How much do you think perception actually matters in the workplace? Is it 50% or is it 90%? Let me know in the comments below.

Let me end this with a quote by Tom Peters, an American Business Author:

“Customers perceive service in their own unique, idiosyncratic, emotional, irrational, end-of-the-day, and totally human terms. Perception is all there is!”

References:

Stone, D. (2017, May 15). The Importance of Perception in Business. Donna Stone. https://www.donna-stone.com.au/perception-importance-business/

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The Hare & Tortoise Fable Revisited

/ Motivation

Recently, I came across this popular Aesop Fable “The Hare and The Tortoise”. The story has been rewritten to explore more possible endings and new morals that can be relevant to the new generation. I think these morals are especially useful from a management perspective and worthy to share in the classroom too!

You may have heard the original version often. It goes like this– 

One day, a Hare made fun of the Tortoise for being so slow.

“Do you ever get anywhere?” he mockingly asked.

“Yes,” the Tortoise replied, “and I arrive anywhere sooner than you think.” I’ll put you through a race to prove it.”

The Hare was amused by the prospect of competing in a race with the Tortoise, but he agreed for the sake of amusement.

The Hare was quickly out of sight. To make the Tortoise feel silly for challenging a Hare, he lay down beside the course and napped until the Tortoise caught up.

Meanwhile, the Tortoise kept moving slowly but steadily, and after a while, it passed the area where the Hare was sleeping. But the Hare slept peacefully on, and when he awoke, the Tortoise was close to the goal. The Hare now ran his fastest, but he couldn’t catch up to the Tortoise in time.

The moral is that slow and steady wins the race. 

It implies that in order to succeed, one should not be the fastest or strongest, but rather the most consistent and dependable. The phrase literally refers to running/athletics, but it can be applied to almost any situation in which someone is attempting to accomplish something. According to the proverb, if someone works consistently toward a goal, they are more likely to achieve it. In contrast, someone who rushes towards their goal without considering all of the potential problems or the possibility of running out of steam is more likely to fail. Or, at the very least, have a more difficult time getting what they want.

However, this story now looks at what the Hare has learnt after the race. Read on, the second part gets even more interesting:

After losing the race, the rabbit pondered over his mistakes. He realised he’d lost the race because he had been overconfident, careless, and sloppy. The tortoise could not have beaten him if he had not taken things for granted. As a result, he challenged the tortoise to a new race. The tortoise concurred. 

This time, the rabbit went all out and ran nonstop from beginning to end. He won by a huge margin.

The moral of the story? Fast and consistent always beats slow and steady. It’s good to be slow and steady, but it’s better to be fast and reliable. 

In this day and age of globalisation, where millions of ideas, goods, and services cross borders in a fraction of a second, it would be more appropriate to change it to ‘quick but steady wins the race.’ In a race, both time and technique are important. And it is at this juncture that the role of steadiness comes into play. Consistency needs patience, foresight, firm belief in fundamental principles,  and dedication to achieving goals. Speed without consistency is erratic. It not only leads to unfinished agendas, a waste of resources and time, but it also undermines trust and belief in one’s own abilities.

But the story doesn’t end just yet! The tortoise has to redeem itself too!

This time, the tortoise thought about it and realised he couldn’t beat the rabbit in a race the way it was currently set up. He paused for a moment before challenging the rabbit to another race, but on a slightly different route. The rabbit concurred.

They began the race promptly. In keeping with his self-imposed goal of being consistently fast, the rabbit took off and ran at full speed until he reached a wide river. The finish line was a few kilometres downstream on the other side of the river. The rabbit sat there, unsure of what to do. Meanwhile, the tortoise trudged along, entered the river, swam to the opposite bank, continued walking, and completed the race.

The moral of the story: Determine your core competency first, and then adjust the playing field to accommodate it. Utilize your strengths while limiting your exposure to your weaknesses.

The story hasn’t ended yet. Obviously, by now, the hare and tortoise are now friendly rivals, having grown from their time with each other. 

The rabbit and the tortoise now started to reflect and think together. Both realised that the previous race could have been run much more efficiently.

So they decided to run the last race again, but this time as a team. They began, and this time the tortoise was carried to the riverbank by the rabbit. The tortoise took command and swam across, carrying the rabbit on his back. The rabbit carried the tortoise again on the opposite bank, and they both crossed the finish line together. They were both more satisfied than they had been previously.

The moral of the story? Collaborate!

It is advantageous to be an individual genius with strong core competencies. However, a single person can only accomplish so much. The sum of the whole will be greater than the sum of the parts if you can work as a team and leverage each other’s core competencies. Teamwork is largely about allowing the person with the relevant core competency for a situation to take the lead, isn’t it?

A four-part story! Wasn’t it thrilling to see how a simple fable can be transformed to teach us many things?! Both these characters, the hare and tortoise, leave us with so much to think about! Let me know in the comments what interpretations did you come up with!

The New Takeaways:

(1) The quick and consistent will have an advantage. Compete against the situation rather than against the competitor.

(2) Recognize your own strengths and weaknesses. Utilize your strengths while limiting your exposure to your weaknesses.

(3) Collect resources and collaborate as a group. 

(4) Failures teach us more than successes.

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Be better than the rest

/ Motivation

Here’s a thought experiment.

Consider a class of 50 students pursuing a degree in science from a reputable university. They study the same subjects, namely physics, chemistry, and mathematics. After completing their three years together, these students hope to obtain a B.Sc. degree. They take the same university-required course modules. Aside from their academic studies, these students must also complete various assignments, project work, and live projects as assigned by their professors. They also participate in a variety of co-curricular and extra-curricular activities on campus, such as athletics, indoor and outdoor sports, debates, elocution contests, and cultural activities, among other things.

Let us skip forward to the future. Imagine, the same students have met you at a reunion organized by the college a decade later. You may not be surprised to find out that hardly 10 % of students have reached the stage of their professional self-actualization. They have bagged leadership positions and are living a financially rewarding life. Some of the students from this category may also have become entrepreneurs, intrapreneurs, or successful consultants or may have achieved national renown.

What about the other 90% of students? If you dig deeper, you may discover that roughly half of the students took the typical routes. They are all now working as employees in various small and medium-sized businesses. They are content with their middle-class lifestyle (with a few exceptions who may be upper-middle-class due to familial wealth). But why is this so?

As a management professor at a few professional institutes for over a decade, I’ve been confronted with the above narrative numerous times. The moot question is what makes some students in the same class extremely successful despite receiving the same educational experience. After extensive reflections and discussions with numerous colleagues, I have developed some well-structured opinions on this critical issue. I’ve summarised my thoughts below and welcome feedback and comments from both students and educators.

So, here is what I think.

Of course, students benefit a lot from the academic and non-academic opportunities that an educational institute offers, and the students who make the best use of their campus life effectively are benefitted the most. 

A typical classroom, in my experience, consists of three groups of students: Group A consists of the top 10% of students who are highly ambitious and want to do something big in life; Group B consists of around 60% of students who have not yet decided what they want to do. They have no big goals in life and may just go with the flow; and Group C – the remaining 30% – they are neither good nor bad, have diverse interests outside of academics, and are ready to seize any good opportunity that comes their way. I want the readers to be mindful here, I am not condemning any group of students. I’ve seen students from groups B and C do exceptionally well in life, particularly in the areas of entrepreneurial development and enterprise promotion. It happens because their motivation level shifts after college life. 

I’d like to argue that there is a type of student who gets the most out of their college experience. Such students demonstrate a high level of dedication, hard work, and sincerity in their assignments. They are extremely dedicated and determined in everything they do. They have a positive mental attitude and create a favourable environment around them. They learn from their own errors as well as the errors and experiences of others. They choose good role models from real life, but they also learn from the stories of other entrepreneurs and read popular biographies.

I genuinely believe that this is not an inherent quality in a student. It is developed with intention. For this reason, I want to counsel some student readers on my blog. Using these tips, they can make their classroom journey more effective and lay the groundwork for their future.

Irrespective of the group you identify with, if you want to make great success in your life, you have to become a student of life for life! To meet this laudable objective, you have to do a host of things. I have tried to list them from my experience and observation.

Love what you do until you find out what you really want to do. After discovering that you should only do what you enjoy, stick with it and never let go. When you work on something you enjoy, work becomes enjoyable and enjoyable. Always strive for excellence in everything you do or intend to do.

If you do what you love, you’ll never work a day in your life.

Marc Anthony

Be a person who takes action. Instead of analysing and thinking (what we call analysis paralysis), practise performing and acting. There is no such thing as a perfect time to start a business or a project in this world; you must act and solve problems. Remember that action overcomes all doubts and fears. Do not be afraid to experiment with new ideas. If you have a new idea, put it in a cage. Instead of discarding it because it is new and different, celebrate it. Your strange new idea could be the one that propels you to success.

Inaction breeds doubt and fear. Action breeds confidence and courage. If you want to conquer fear, do not sit home and think about it. Go out and get busy.

Dale Carnegie

Be ready and determined when faced with challenges. Prepare yourself. Bring your own notes and perspective to the table before an important meeting or task. Only by working and preparing will you be a hero the following morning. It is critical to keep your promises. You should also be tenacious in your pursuit of the goal.

Success is where preparation and opportunity meet.

Bobby Usner

Get along with others. Building positive relationships is always a good idea. You never know who will turn out to be someone who can significantly assist you or even be a good and supportive friend. As a result, help others and they may help you; and be nice to others and they may be nice to you. Make enough time for yourself and your family to spend quality time with them.

Emotional intelligence is your ability to recognize and understand emotions in yourself and others, and your ability to use this awareness to manage your behavior and relationships.

Travis Bradberry

Your salary and job title are critical because they provide you with wealth and financial satisfaction. But don’t let this overpower you. Both your physical and mental health is critical to your success. A sick body or mind cannot be successful. Last but not least, make time for spiritual wellness in order to find meaning and purpose in life. It can be accomplished through a variety of means, such as organised religion, prayer, meditation, and yoga, as well as a careful examination of your morals, values, and beliefs.

Wellness is the compete integration of body, mind, and spirit – the realization that everything we do, think, feel, and believe has an effect on our state of well-being.

Greg Anderson

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Not my burning house!

/ Motivation
Storytime!

Recently, I came across a wonderful story about empathy online. I later realised that the story was written by Dr Anjana Vinod.

Dr Anjana is a friend I have known through this professional group called “Influencers”, which we both are members of! I am reproducing her wonderful writing here on my blog for the benefit of my readers! She has added her reflection on the story too! I hope it gives you something to ponder about!

Here’s the story titled “Not My Burning House” 

A man returns to his village after leaving for a while. He discovers that his house is on fire! The house was one of the most exquisite homes in the neighbourhood, and the man adored it the most. Many individuals were willing to offer the house for twice as much as it was already worth, but he refused to accept any offer! Now, it is simply burning before his very eyes. The fire spread so far that nothing could be saved! Despite the thousands of people who gathered, nothing could put it out. He stands there, watching his prized possession burn to bits with great sadness. 

His sons come running up to him. “Don’t worry,” his son reassures him. “Yesterday, I sold it three times for a great price! I couldn’t wait for your consent because the deal was that great. Excuse me for it! But God is good!”  

“So, it’s no longer ours!” the father says, relieved. The father then becomes a calm and silent observer of the burning fire, joining thousands of other observers.

The second son then rushes up to his father, rather annoyed! He exclaims, “What are you doing?! You are grinning while the home is burning!”

 “Don’t you know your brother has sold it?” the father replies. 

“We have simply accepted the advance payment; the balance is unpaid,” the second son says. “I don’t think the man will buy it right away!” 

Everything shifts once more! The tears which had disappeared, have come back to the father’s eyes! He is no more at peace, but his heart pounds faster in his anxiety. The ‘watcher’ within him is gone. He is again become attached. 

The third son later appears with good news. He declares, “That man is a man of his word. I’ve just returned from him, and he has confirmed the purchase.”

The buyer had told the son that he would bear the loss. He said to him, “It doesn’t matter if the house is burned down or not; it is mine, and I will pay the price that I have agreed upon. You and I both were unaware that the house would catch fire.” 

Hearing this, the excitement returns. The family members started to “watch” again!

So, what does this story try to show us? Let us reflect!

Connect with the relationships that have naturally ended through time in your life. We witnessed numerous burning houses as a result of the pandemic. Only the ownership, connection, and attachment to the house changed in relation to the fire and the house.

So, does one’s emotion simply alter with a thought? Because we are social beings, any attachment will result in a bond. The tie will only weaken under a tense situation, but their attachment will never be severed. Let’s pray that all of our connections remain solid and that every burning house brings a tear to our eyes.

“Sow a thought and you reap an action; sow an act and you reap a habit; sow a habit and you reap a character; sow a character and you reap a destiny.”

In the story, there was a smile whenever the attachment didn’t exist, but when it did, tears began to fall. The paradox of life is that our pain’s intensity varies according to whose loss it is. But should it have to be this way? I believe that everyone has empathy but we might not have the courage to show it. Let us embrace the kinder self within us, and lead our lives with grace! 

Empathy is the first step in building a wonderful community! Express it!

Try heart-to-heart communication if eye-to-eye communication fails! 

Not my burning house! Read More »

Diwali wishes and more…

/ Personal

May the millions of lamps lit today illuminate your life with joy, prosperity, health and wealth forever. From my family to yours, I wish you a very Happy Diwali and a prosperous new year!

As most of you know, early this year, I launched my book “Entrepreneurship- The Mega Opportunity.” It has met with great success because of your love and support, and I am so grateful! This festive season is the perfect moment to extend and share my joy.

I invite keen students, young executives and to-be entrepreneurs to reach out for a 1-to-1 consulting session with me for 60 minutes for a discounted fee!

What’s more? You can have my book “Entrepreneurship- The Mega Opportunity” for free!

Write to me now at kktandon@gmail.com

I am looking forward to hearing from you! Let us start the new year with a lot of promise and build an exciting future together!

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The spirit of an entrepreneur

/ Business, Motivation
Do you have what it takes?

I have always believed that anyone can be an entrepreneur! But entrepreneurship is not for everyone!

Let me elaborate: Anyone from any background or skill level can be an entrepreneur. A vada pav-wala can have an astute business sense developed through experience. A homemaker can also run a successful business and tackle the ups and downs of her venture. The MBA textbooks and theories hold little consequence in this regard.

Having said this, not everyone is cut out to be an entrepreneur.

So, what traits make an entrepreneur different from the rest?

In this post, I want to impress upon my readers specific values that one can imbibe to become a great entrepreneur. I think the following maxims represent the entrepreneurial spirit…

A failure is nothing but the postponed success

What every entrepreneur needs to understand is that failure is part of the journey, not an end. Entrepreneurs with a strong commitment and dogged determination to succeed in their business should not worry about failures. If you see successful businessmen and their career paths, you will see that they carry the attitude – “I did not fail; my project failed.” Essentially, they are serial entrepreneurs, moving from one business project to the next. You can always rework your business/project idea and identify a different business opportunity. Many entrepreneurs have learnt from their failures, redefined their projects or business opportunities and have moved on.

Only excellent people can create an excellent business

As an entrepreneur, you have to invest time in people. You have to develop a work culture that fosters collaboration and innovation. The first and foremost suggestion I would give you here is that you must be choosy about selecting people who will join you in your start-up journey. These are the people who are going to work and grow with you. You must develop an effective team of qualified and competent persons with the necessary skill sets, exposure, and experience. Later on, you should not leave any stone unturned to build an efficient and effective team of committed, dedicated, and self-propelled employees and provide them with quality resources so that they can perform at their very best. As you coach, counsel, and encourage them, you must also hold review sessions from time to time. This will give you the opportunity to pay special heed to their training and re-training needs.

Being ambitious alone is not enough

You are an ambitious entrepreneur. You have tremendous enthusiasm and zeal to make a success of your entrepreneurial venture. But then these attributes alone may not ensure your business success. You have to put in the work and apply strategic thinking at various points in the journey. Apart from your bubbling enthusiasm, energy, and fervour, you will be required to set a business plan and develop discipline in order to stay on track, so you can eventually make a profit with your business.

I hope this post gave upcoming businesspersons some food for thought. Let me know in the comments down below: What maxim/ motto strengthens your entrepreneurial spirit?

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