The importance of steady progress

We will end this year with revenues approximately 80% higher than 2007. More importantly, we will have a profitable 2008. Our competitors focus on top line. Most if not all of them are in red..they have been in red since they started operations. While our revenue growth is lower than my expectations, the profits make me very happy. Understandably.

After having spent 4 exciting entrepreneurial years, I have acquired a certain set of funadmental beliefs ("fundas"). I must state that as has been the case over the past 4 years, some of these fundas may change with time. (Though, I suspect the core should stay unchanged).

Start Up Funda List#1 -

• A firm has to progress continually - if growth stops, the firm would perish (in 9 cases out of 10)
• Topline growth is important (and in our industry has been the key focus), however, profits are equally important if not more.
• Each business has a certain zone in terms of revenue and profits - its a very thin zone - but it is a zone that every entrepreneur should focus on and remain in. Needless to mention, the profit zone varies from industry to industry.
• Lean operating structure helps. Lean is not only a "recessionary fad" - it is here to stay for ever
• While listening to a pitch focus on content and don't get blown away by style
• Its key to understand the "gut of a business" (hat tip to Ram Charan for this)
• Every individual - I mean every individual, has immense potential.. she just needs an environment to realize the potential
• Long term and short term plans are worth spending time on (I must confess I tried to dispute this for long.. and gave up)
• Do not act in a "crooked way" or for short term gains. It does not work. You get trapped in your tricks and fall flat on your face
• Finally, Small is beautfiul. Stay small. You serve your customers better. You act more responsibly. You are more nimble and aggressive. You are just.. better in every way.Period.

More fundas in a later post...

- Udayan Bose

Comments

[Bithin]

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