06Jun2016

The biggest entrepreneurship challenge

One of the main differences between being employed and being an entrepreneur is accountability.  While employed, one is accountable mainly to the Boss followed by the Peers, who are all internal to a company. Accountability to the external people like Customers, Vendors, Regulators, etc. is indirect, since the company they represent comes first. There is sufficient internal push to excel with a good amount of cushioning of the external push. This condition is ideal for encouraging consistent performance.

On the other hand, as an entrepreneur one is mainly accountable to the external people and hardly has any internal people who can hold him/her accountable, but for maybe the SPOUSE. There is tremendous external push just to deliver and hardly any internal push to encourage consistent performance. This condition leads to high stress levels, cresting a spiraling effect to further intensify the stress. This condition is idea for sporadic peak performance.

Well, how can this paradox be overcome? Let me explain how this is done in the doHow™ APP (www.samuthana.com/doHow/).

What if there was some way of creating the internal push, without being an employee or being pushed by the spouse, for encouraging consistent performance in anticipation of the external needs? This is precisely what the doHow™, a real-time personal coach based on introspective peer learning methodology, is designed for.

The key success factors like, Agility, Controlling, Core Purpose, Customers/Clients, Employees, Expertise, Finance, Products/Services, Strategy, Uncertainty, etc. have been identified and a maturity model for these developed. A check on the maturity is done every time one uses the doHow™ APP, be it by oneself, along with a coach or in a Bistrot session.

The various maturity levels for uncertainty, for example, are

1)    Every employee has clarity on our Values/Beliefs to navigate without Policies | Guidelines | Processes.

2)    Every employee proactively practices a weekly self-reflection routine concerning our Values/Beliefs.

3)    Every employee proactively computes the actual status | latest estimate | gaps to goal almost continuously.

4)    Every employee proactively develops measures to exceed the goal proportional to the uncertainty every time after computing the gaps to goal.

5)    Every employee proactively seeks feedback (mostly informal) from Subordinates | Peers | Superiors on the decisions and behaviours for self-reflection and calibration.

6)    Every employee proactively reports relevant information from the recipient's and situation's perspective to all the concerned on a timely manner.

7)    Every employee gets recognised at least once a year for having taken ownership and gone beyond boundaries to accomplish the goals the right way.

It is quite obvious that as the maturity increases the results must improve. Therefore, the doHow™ APP also has a feature to track the metrics like ratio of Potentials to Latest Estimate of Quarterly Sales, Orders on Hand to Latest Estimate of Quarterly Sales (LE Sales/Q), +/- Cash Balance to LE Sales/Q, Receivables to LE Sales/Q, Payables to LE Sales/Q, EBIDTA/Q to LE Sales/Q, PBT to LE Sales/Q and finally LE Sales/Q to Previous Quarter Sales. The validation of the favourable development of the metrics with an increase in maturity is a powerful excellence motivator.

Additionally, once can rate himself/herself as well as get rated by a Coach.

It is magical to see the way the participants of the doHow™ Bistrot session on Managing Start-up/Micro/Small Business have got invaluable insights and clearly seen the light at the end of the tunnel.

Any one may check out by visiting www.samuthana.com/doHow/ and embark of the excellence journey to becoming world-class.