Entrepreneur's Delight
A collection of write-ups from writers/authors willing to write on Entrepreneurship, Business, Corporate Leadership & Management.


Script Your Business Story

Friends! As we have already reached mid of 2014 we have to look at events taking place with New Eyes. Our outlook should change. Then, and only then, will change be relevant. Carrying the old baggages of the past will not help us in any which way to address the future. You have to transform from within First. You have to turn yourself into a New Person. Only when that happens will you find things changing, and then, and only then, will you be able to address the evolving market trends.

How to make this happen?

As businessmen we are all busy with operations. Rarely do we pause to plan and reflect. Today, it is crucial to do your own valuation and to create your own brand. You have to spend some time in articulating the different nuances of your business. One has to understand that we have a limitation on Capital, Time, and Infrastructure, yet we need to explore new heights. We have to change our perception and look at TIME as a competitive Factor; you have to be the author of your Business Story. You should be able to script your vision and link it with achievable Goals. Only when the goal gets clearly defined one is able to Focus and Achieve.
The plan should be both a short term Plan and a Long term Plan. In the Planning Stage one has to make the mental ground fertile to sow the seeds. Once this is done one has to contemplate and also build in a Contingency plan. Here one should think about all possibilities of things going wrong. This way the organization can be nimble footed and adapt to changing market scenarios. Also the most important part of planning is the monitoring and review process. This should be carried out at regular intervals so that one has got a complete grip over the situation. The solution and logic have to be worked out, and in the worse case scenario should be worked out with the cost factor. This component should be embedded in your Plan.

The second part is the observation of Efficiency in executing the Plan. Is there any Business flow Innovation taking place? Spend time in this area as it will have a direct implication on your bottom line.

The other factor is Responsiveness:- Are you mule headed and fixed with notions or are you able to change your views to adapt to the Dynamics of Business? This environment is extremely fluid; anyone with static thought approaches will be simply wiped out. Look at the Efficiency with which you handle situation. Observe both operational and capital efficiency. Finally, set Benchmarks and do Milestone Validation. This will give you the Confidence to take risk and give you the ability to harness opportunities.
After writing your own Business Story, with what spirit you tackle challenges and come about victoriously will place you in the Legions of Business Heroes.

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Any facts, figures or references stated here are made by the author & don't reflect the endorsement of iU at all times unless otherwise drafted by official staff at iU. This article was first published here on 2nd August 2014.
Dr. Nitin Parab
Dr. Nitin Parab is a contributing writer at Inspiration Unlimited eMagazine

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