challenges of enterpreneurship irma - 24 jan 2015

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Ketan T Bhatt Principal Partner www.alkemist.co.in Mobile: +91 98 79 107928

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  • Ketan T BhattPrincipal Partner

    www.alkemist.co.inMobile: +91 98 79 107928

  • Alkemist HR Enablers LLP

    Clarifications

    For every successful entrepreneur, there are 9 not-so-

    successful or unsuccessful entrepreneurs

    Unsuccessful does not mean absolute failure

    Not covering technological or functional or regulatory

    challenges, as entrepreneurs ought to be good at

    dealing with them.

  • Alkemist HR Enablers LLP

    Enterprise(12-20 Quarters)

    Firm (20-40 Quarters)

    Organization(41-140 Quarters)

    Institution(> 140 quarters)

    Learning Organizations that have seen at least 3 generations of leaders

    Ethical FoundationEthical Foundation

    The JourneyThe Journey

    Micro / Local

    Medium / National

    Small / Regional

    Large / Global

  • Alkemist HR Enablers LLP

    Stages of challenges

    Childhood Crawling to walking to running

    Adulthood Fitness to marathon to rejuvenation

    Lifetime Embedded in life cycle of an enterprise

  • Alkemist HR Enablers LLP

    Childhood Challenge 1 Vision Evolution & Devolution

    History every successful enterprise has had a VISION Clarity of

    direction

    It is all about flying into future on a one-way flight

    Vision = Legacy Articulated or Obituary that shall never be used

    Ownership of vision individualism to collectivism

    This is a distinguishing feature between a business-like effort & an

    enterprising effort

  • Alkemist HR Enablers LLP

    Make Snapdeal into Indias number one B2C

    marketplace Philosophically, I would want Snapdeal to have the most admired alumni in the country The only reason as to why weve

    made substantial progress over the last two and half years is because of

    our people

  • Alkemist HR Enablers LLP

    Childhood Challenge 2 Team-building

    Team is as good as the leader and members - People with right

    / congruent / complimentary - attitude, ability, and energy

    Wear the hat that fits the skull (or face faster burnout)

    Recognize, face, tackle interpersonal issues promptly (especially

    among the Leadership Team members)

  • Alkemist HR Enablers LLP

    Adulthood Challenge 1 Systems & Processes - Discipline

    Well defined skeleton, arteries, and veins

    Synchronization !!!! All about a near-perfect interplay of processes

    Codification / documentation / encryption of proprietary / process /

    product / service knowledge for retention & reference

  • Alkemist HR Enablers LLP

    Adulthood Challenge 2 Perseverance & Perseverance

    Assumptions / guestimates could go awry & unanticipated issues

    could crop up

    Government would tinker with regulations, making the game

    tougher or more competitive and even at times unplayable (briefly)

    Markets / customers are not Santa Clause

    Anand Satyan of DeliverWithMe

  • Alkemist HR Enablers LLP

    Lifetime Challenge 1 Build & strengthen unique culture

    Trust among cofounders

    Innovation, engagement, and creativity, even at the cost of

    mistakes

    Treat team members & customers are co-conspirators

    Instill ethics & an uncompromising attitude

    CEO also means Chief Ethics or Engagement Officer

  • Alkemist HR Enablers LLP

    Lifetime Challenge 2 Stay Relevant by Divine Discontent *

    Attitude to learning, unlearning, relearning

    Each achievement leads to a search for the next big challenge

    (external or internal)

    Crossing knowledge frontiers becomes an embedded habit

    Divine Discontent is a term from World-class teams published in McKinsey Quarterly article 1992, by David Kirk

  • Who is anentrepreneur?

  • So if you have the entrepreneurial zeal, then

    1) Hold fast to your dreams, for if dreams dielife is a

    broken-winged bird that cannot fly.

    2) Must read Built to Last: Successful Habits of

    Visionary Companies (Jerry I. Porras & James C.

    Collins) Published October, 1994

    3) Download YourStory app

  • Thanks