Why some SMEs are successful in India while most struggle for years to sustain and drive their businesses? For every Vijay Shekhar Sharma of PayTm, there are 10 Navneet Singhs of PepperTap; for every PayTm there are 10 iprof or Purple Squirrels.
The truth is, success or failure of an organization depends on only one person – the owner/MD/CEO/Founder who drives it. It might sound unfair. But such are the norms of a world where employees at all levels are looking for direction and motivation from the leader. In a competitive business environment, it’s the difference between ‘MEN’ and ‘BOYS’ that decide the fate of a business.
If any SME owner feels that things are spiraling out of his control or has excuses to justify why he/she cannot be held responsible for things not working out resulting to the company’s advantage, he/she must reassess whether they are qualified to sit on the chair of a leader.
But let’s focus on the success stories. Let’s look at it with a positive lens. The first things that you notice about a great visionary entrepreneur is how he conducts himself throughout the day. For brevity, let’s narrow down our focus on the first 2 hours of the day how he/she conducts him/her self. What do successful SME owners do first things in the morning?
Well, here are top 5 things, our research says, they do in the first hours in the morning:
- They start their day early. A leader cannot afford to wake up at 8 and reach office by 9.30 AM. They start as early as 5 in the morning and immediately hit the gym or whatever fitness frills he/she follows
- A leader sets the tone for the day for his team. He immediately after reaching office creates some activities/hype to engage his team. Everyone needs some motivation to go through their daily grinds. A leader knows that.
- He/She immediately assigns tasks, expresses his/her expectations for the day to all the department leaders and ensures the leaders do the same with their respective teams.
- A successful SME owner ensures he personally takes daily feedback on sales. This is not a case of micro-management. When a leader reaches out to even the last level in the hierarchy, people get more serious and motivated to do their daily tasks. In sales, this is very important and a leader knows it and that’s why he/she conducts his drill with the sales team early in the morning
- An SME owner personally calls up customers first thing in the morning and takes feedback. This instills faith in the customers that the company is prioritizing him/her by calling early in the day. It is a human psychology to address important areas first and then move on with the secondary tasks. Both the customers and the SME owner understand this.
While most business or management books underscore the importance of profits, revenue, funding etc, but in reality, the behavioral traits of a leader and people management are key to success for a business. Everything else is a by-product of that. A successful SME leader identifies this early and works hard on these aspects. That’s why their day starts with interactions with all kind of stakeholders, within & outside.
A&A Business Consulting has worked on countless entrepreneurs before working on their business. And transformed them as leaders. Attend one of the CPDs hosted by us and you will be a surprise with the insights shared.
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