The High Performance Entrepreneur3149

7/27/2019 The High Performance Entrepreneur3149

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Subroto Bagchi

August, 2006

The High PerformanceEntrepreneur


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Of all entrepreneurial activity, less than 5% are likely to behigh-potential. High-potential companies are called

Gazelles. In the 90s 70% of all US jobs were created bythese companies and in Sweden 7 in 10 of all new jobsare created by them

High Performance Entrepreneurship does not happenaccidentally. It is designed that way. To begin with, startwith the right reason..

All the wrong reasons


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We are three good friends and we want to start acompany

I have this great idea for a new gizmo

I hate my company and my boss

My time is running out

I want to help India

Now, do you have the right profile?


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Profile of an Entrepreneur

Love for money Self-confidence Sense of freedom

Hard work & goal orientation Flexible, opportunistic and emergent Egoless

How do entrepreneurs get the right idea?


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Sometimes entrepreneurs work future-backwardsand sometimes they work in a present forward

mannerthe MindTree, Caf Coffee Day, DeccanAviation and Biocon stories..

High Performance Entrepreneurs get excited about

the big picture, a larger vision and then the piecesbegin to fall in place

After the right idea, it is time to buildthe A Team


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Choosing the A Team

Look for proven competence, ability to pull weight

Complimentary in the parts but collectively

exhaustive

Ability to multi-task

Shared Vision

Transparent


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Choosing the A Team

Personal integrity & mutual trust

Ability to question each other and disagree

Resilience

Sense of humor

The next issue: DNA, Mission, Vision & Values


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DNA It is who you are

Mission It is where you are going

Vision A set of time-bound and measurable goals

Values It is the shared code of conduct

Now, how will you be different?


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Domain

Tools

Methodology

Quality

Innovation

Branding

Next Step: Writing the Business Plan


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Take the Business Plan seriously..

Executive Summary

Business Context

Company & its Objectives

Core Values

Positioning & Business Overview


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Now you are ready to seek the investor.Choose the right investor

Take the Business Plan seriously..

Sales & Marketing Delivery & Process People & Structure Risk Factors

Financials


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Choose the right investor.

Smart vs. Dumb Capital Color of money The lure of Non-interference

Mutual expectations Family & Friends

It is now time to think of attracting

and retaining the right talent


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Pay attention to the first 40

Write the job description

Sell the job yourself

Explain the downsides

Run with defined objectives


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Have a transparent Compensation and Benefit structure

Invest in a Performance Management System

Devote time to talent & leadership development

Communicate with the 95:95:95 principle

It is time to think of building aProcess-centric organization


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Build a Quality organization from the start Focus on the People, Process &Technology triad Choose a framework but look beyond

compliance Have a roadmap, be practitioner-led

Listen to the voice of the customer and involveeveryone

You are now ready to seek yourCustomers. But choose Customers right


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Angels come through providence

Build processes to get your early wins Choose your customers wisely. Look for reasons

such as:

Techno-managerial value - add

Trust Sense of equality Commercially win-win

Manage your money wisely


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Love money there is no other reason to get into

business

Be frugal do not pay yourself out of business

Install an accounting package from the word go

Know what to measure and measure it

Respect the bean counters

Get the best auditor in town


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Keep overheads low

Raise money before you need it

Do not fritter away equity

Put in place corporate governance from the start

Report accounts to your investors on time, withoutwindow dressing ever

Focus on Building your Brand


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Brand is the communication of your intrinsic worth

It must be consistent with your DNA, Mission, Visionand Values

Choose the name and visual identity right

Focus on the message map, based on the companyspositioning


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Spend energy on the website and the intranet

Get a PR agency

Build affection for content

Use the workplace as a brand ambassador

Lets us now talk about emergence,willingness to change & managingadversity


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An enterprise is like a river. Seeing the source, youcannot imagine the confluence

Be emergent bend and flow

There is no one wayof solving problems, sometimes itis better to simply stay ahead of problems


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Long-distance runners must bear segmented pain

In difficulty,be transparent and communicate

Publish decisional rules to the organization

Reasons Start-Ups fail


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Founders break-up

Enterprise runs out of cash

Deadly embrace of a customer or a product

Technology/Customer/Geo over-dependence

Founders do not let go


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Poor governance

Founders get carried away with their image

Try to be too big, too soon

Wrong choice of investor

Lessons from the Indian IT Industry


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To be world-class, begin and end with quality

Focus on what you know, not who you know

Build an abundance mindset

Pay your taxes right

Be hierarchy-free


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Leaders exemplify personal integrity

Set up hairy, audacious goals

Build deep inclusion

Organization resources are not my resources

Austere leadership


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It is about ordinary people delivering extra-ordinaryresults

Play it by the book


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Thank You

The High Performance Entrepreneur3149

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