10 Habits of a Successful Indian Businessman you can easily adapt.
What clicks with the successful Indian businessman? What are a few things which differentiate them from rest of the people. I know a Chairman & Managing director of a BSE listed company. He literally started his business from a hundred rupee note at a small town in India. He had no Financial backing and by all means he was a regular middle class Marathi, Gujrathi guy some 20 years back.
Today he employs over 6000 persons, and is super rich. Has his business spread across 21 states in India and has plans for expansion.
How did he do it?
Here are some points which I could learn from my interaction with him, hope we can adapt same in our day to day life.
- Speed, in your decision action.
When he was making a decision to buy his first plant, he took 5 minutes to close the deal, fearing that the person selling might refuse to sell it.
Since that day speed has been an essential part of his decision making. Be it a Rs.100/- decision or 1 crore decision, take fast decisions and start implementing it.
- Respect time.
Time is available to all of us, some can produce more with time. Respecting time is very important if you have ambitions. This involves self-discipline and good time management skills.
You hire good people not just to tell them what to do, but you hire good people so that they can tell you how it is done. You need team to run business, Find good one and retain them. Your team is your extended family. Live with them, celebrate with them and be with them.
People make business, value them.
Plan thoroughly, spend most of time on planning. Planning also involves choosing right person for the right job.
If you can see the project through and through on the planning table then believe me rest is all procedure.
With the speedy decision making you would need a speedy implementation. Often projects miss the final deadline as they fail to maintain the desired daily progress expected.
Once the deadline is missed , it creates a dominos effect for all future situations. In such a condition, re setting the timelines becomes a big task causing loss of money & time.
- Sense of Urgency
Its your money, and you need to create a sense of urgency in order to propogate the seriousness to the team. Without the sense of urgency in place you would never bring the task in the priority list of your team.
You have to set the bench mark for the urgency and pass it on t team.
- Follow up people.
As a leader your task list needs to feature bigger, better, and important tasks on hand. You need to be better organized, in order to take care of various tasks in progress.
Each morning following up on important tasks is a routine practice. That gives you a benefit of remembering the task yourself first, and secondly you remember to track the progress of what’s important to you.
- Adapt & innovate
A very basic example of this would be using Whats app for communication. Initially internet usage on phones was not recommended. Now it is mandatory that each employee needs to have an android phone.
Managing tasks is just a click away, with little help now you can schedule, set reminders for yourself.
Same applies with your business practices. ERP, computerized business practices are need of the hour. You need to adapt and innovate in order to be future ready.
- Avoid wastage
Wastage is something which can eat your profits or increase your operating costs. It pays to work on wastage before it catches your balance sheet for the wrong reasons.
- Stick to your basics
Riches, fame & power may be the part of the journey, but sticking to the basics is what keeps you in control.
Leading a perfectly happy family life, Finding quality time for your family is something which you need to prioritize. Putting family first needs sticking to the basics, when you are heading an extended family of 6000 persons.
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