Protecting your individual side

Enterprise failure is leadership failure. This is my personal belief and experience

too. In an environment where entrepreneurial spirit is growing fast, it becomes
imperative for us to analyze the causes of failure. This is similar to risk analysis.
Failure can come in several disguises. At times success can also follow failure if not
maintained right. And failure after success is more painful. Thus, an individual as a
business leader and as an owner of a startup project should take note of the foregoing
to join the coveted list of successful entrepreneurs.

Respect business hours: A business leader should never make his team unduly wait
for his audience or allow communication gaps. The habits of working beyond office
hours, going unavailable during crucial moments, and disregard to the personal time
of the team members are some of the discouraging practices that affect the working
spirit of your team.

Clarity is every thing: Ambiguity and indecisiveness can mean lurking risk. Ensure
that you have absolute clarity for every ‘Yes’ or ‘No’ you deliver. Don’t yield
yourself to a specific situation out of obligation or pending confirmation of dependent
facts. Don’t also allow swinging moods or thoughts which could fuel the operational
inconsistency jeopardizing the business progress. When you are faced with
conflicting opinions or numerous opinions weigh your decision taking the help of
professionals or professional tools. This will save you from possible trying situations
in future.

Be business wise: Never act prerogative to over rule or ignore project metrics.
Believe in analytics and respect facts and figures even if they present an unpleasant
picture in a given situation. It is easy to take things for granted but will be very
difficult when it comes to bearing the bad consequences.

Nurture professional identity: Stand for the honest, transparent, value driven, and
complementing culture, duly honoring the commitments and promises made to
stakeholders. Your personal stature and professional conduct largely influences the
sustenance and growth of your venture.

Never holdback resources with intent of saving: When your business demands
certain resources be it time, team members, consulting expertise, money or other
infrastructure, spare it as planned and never start projects without ensuring these
things either. We can’t churn out relishing dishes with scarce ingredients.

Don’t interfere with the functional style of team members: Understand the core
strength and working style of your team. Never interfere in their functional style or
resort to constant follow-up. No two leaders will approach an issue in the same
style. Freedom, empowerment, and delegation are the most required elements for
successful productivity.

Maintain calm and composed attitude: It is highly conducive to arrive at

conclusions with a calm and composed attitude. Intolerance, emotional outbursts, and
hasty inferences on important issues will mean big damage. This will reflect you
weak in the minds of your team.

Listen without bias: Listening to others is the most important trait of any leader. At
the same time don’t give prominence or encourage eavesdropping and whispers. A
team member with this habit will become a big nuisance some time later. Also never
dislike any thing or any one. Dislike is the first hurdle in learning process and leader
should be a constant learner.

Trust every one knowing when and whom to mistrust: Build trust in your team.
Inculcate the intelligence to read in between lines when situation demands. Don’t
wear the attitude of mistrusting every one. Mistrust produces counter measures.

Boss is the primitive word: In any working environment every one should be given
specific responsibility and be empowered with relevant authority to achieve
designated tasks. An entrepreneur as a true business leader should never feel himself
/ herself above board at least overtly. Be friendly with your team giving them
required space to interact with you. A business leader should be a solution provider
and problem solver first to his team and then to other stakeholders.

Ignorance is not bliss in business: Keep yourself abreast of things in your business
line. It could be any or all of the areas like technical, market related, team related,
growth related, company documentation or about the evolving innovations in the line.

Know the benefits of technology: Be open to introduce technology tools to increase

your business performance or accelerate business growth. It could be your web
identity, an ERP product, or customer support infrastructure. Exploit the social
networking platform to expose your entrepreneur profile and build personal branding.

Invite change: Many entrepreneurs remain themselves static when it comes to

expansion or growth. They are content with the achieved self-sustenance and like to
continue even for decades. However, a true leader should always hold big picture and
invite any change required in this direction. At times the change could be towards
improvement of present environment or changing your functional style. You should
move ahead strategically, leveraging the benefits of core competence, expertise and
present net worth.

Greed is voracious and if not controlled will even eat you: Business should always
be a win-win contract. You can earn only when you allow others earn out of you.
Don’t try to milk the cow beyond the last drop.

Respect, respect, and respect: When we respect others we excel ourselves. Respect
brings in the best reciprocal value. This reflects our individual culture. So don’t be
biased as to whom you will respect or who not. An employee at the lowest rung to an
external stakeholder, every one is equally important in the business. Every business
must conduct itself with an attitude akin to hospitality industry. Love and respect
should be proactive feelings and should never be limited by barriers.

One man army: If you are the lonely team member in your business setup, you can
have collaborators and partners as an extended and external team. Collaborative
productivity is more powerful and instills better confidence in the stakeholders. Be
socially active so that you can build an excellent team as you progress in your stride.

Resist temptations: Don’t indulge in any such thing that can cause a blemish to your
character, professional image or future prospects. Resist them at the very sprout. It
could be to amass sudden gains through unethical means or get entangled in relations
that could bring embarrassment at a later time.

Restrain family involvement: Unless it is professionally relevant, an entrepreneur

should never involve his family members in the business matters. At the same time,
the personal side of yours should never affect the business matters. Don’t allow your
personal problems impact the business affairs.

Nurture big picture: I quote here one of the tweets I came across on Twitter “If you
are dreaming, dream big” (apologies, I will not be able to provide immediate
reference as to who said it). Dreams are the first sprouts for your growth. Plan to
achieve your ambitions and make your dreams true. Document your dreams and
ambitions so that you can develop them into an action plan.

Enjoy criticism: Critics are our well wishers. Criticism is a tool to achieve
refinement. Accept it with humility wherever it is genuine. Allow it silently even if it
was unreasonable and respond appropriately. Criticism may not always come from
expected or deserved sources. Still it is an exercise made by others on your behalf
and for your benefit.

Contribute to social causes: Society gives you business. What are you giving back
to society?

Once you raise an enterprise and connect with several stakeholders, you are socially
responsible to nourish it healthy. When it fails it would mean a loss to several
stakeholders including the very employees who worked for it. That way, an
entrepreneur should always guard himself first, so as to ensure his enterprise flourish
and enjoy social pride.

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