I. Businessman. (Part 18)
My learnings as a Businessman. (Part 18)
“I am God’s gift to entrepreneurship”. Famous last words.
People who move into setting up business after working in a professional setup, always struggle to come to terms with the fact that in the world of running an organization, their professional skills amount to a giant zero.
Yes, their skills are needed to run a business. But their skills cannot keep it afloat.
The biggest challenge one faces, is having one’s ego get in the way of business.
Learning No 20:
There is no place in business for an ego.
In many instances you will encounter clients, customers, partners and vendors who will behave like ‘pricks’.
Their knowledge base will be an ounce of what you have.
Their experience will be minimal when compared with yours.
Yet, you would need to swallow your pride and accept what they say, in the interest of your business.
You will need to accept that not everyone will agree with your point of view.
You will need to accept that not everyone will see the brilliance of your thinking.
You will need to accept the fact that not everyone will lap up everything you say without question.
Sounds easy? Let me enlighten you. This is one of the toughest and most frustrating things to do.
Despite knowing that the other person is actually speaking nonsense, you would do their bidding, because they have control over the most important element for the success of your business, the budget.
A perfect example is an ad creative that we had presented years ago to a client. It was for the launch of a mall based in West Delhi, the first mall to open there.
The creative line we had developed was this: “From tomorrow, the sun will rise in the west”. Logic being that from tomorrow, the world’s focus would be on the west of Delhi, as the action now shifts there.
After it was approved by everyone else in the chain, the business owner shot it down.
His logic was this. Everyone knows that the sun does not rise in the west. Therefore, if we claim that the sun will rise in the west, everyone will know that you are claiming the impossible. Therefore, everyone will assume that the success of my project, like the sun rising from the west, will be impossible.
There was stunned silence in the boardroom for 5 minutes. I mean, what moron would think like this?
Needless to say, we developed a new creative line.
You cannot let your ego decide your actions. Because if you do, you risk getting caught up in one-upmanship, a tussle to prove who’s the boss.
Eventually the only thing that will suffer is your business, your revenue, your productivity, and your profitability.
Learn to let go. Because that’s the only way for you to grow.
TO BE CONTINUED…
(This is part 18 of a series of blogs on my learnings as an entrepreneur )
Read Part 19 here