Case study 1 - Business growth & Performance growth are equally important
1. One reputed event management Co. was operating in an un-standardized framework wherein inquiries, pricing, team planning, Equipment management all were manually managed by HODs
2. It caused chaos in planning, prioritizing events, dampening margins, ideal resources, duplication in work
3. All they needed was standards in operation and advanced training
4. Unless a canal is channelized water spread in the undesired direction leading to wastage
5. Heads off to management who took this project on their own self and invested time & efforts
6. Management set a goal of 40% improvement & it started working – 30% expansion in execution capabilities, 20% margin expansion, 15% team satisfaction achieved
All that management did is
- Introduce standardization as a project in their task list
- Set goal of 40% improvement
- Cordially brainstormed with each HOD with a solution-driven approach
- Emotionally balanced their expectation
- Improvising infra – Initiated professional training – tracked results
Case study 2 - How to think differently
A Start-Up Company engaged in online trading desired to scale its business and achieve a high valuation. Promoters conventionally decided to build a platform for buyers and sellers to trade. However, it required a huge cash-burning appetite to promote buyers to visit the platform and generate trades regularly. Promoters had to think out of the box to overcome the cash burn challenge and got breakthrough by
- Building an Ecosystem
- Facilitating visitor’s requirements through this ecosystem
- Inviting them to Subscribe to Membership in this ecosystem
This has resulted in turnaround which 60% reduction in cash burn ratio
Case study 3 - Importance of documentation
A Chemical Company got trapped in a high level Tax inquiry while claiming depreciation of a new unit. The tax office enquired about the date of commencement of the unit’s operation which was substantiated by a series of documents viz. excise passing, electric unit consumption, job cards, labor contractors invoices, etc
It took 3 rounds of inquiry as all information was not submitted in 1st and 2nd rounds and therefore it made matters more complex. And there are a series of such case studies.
All that company needs to do is to submit all documents in the 1st round by taking the matter seriously. The company should follow up with the consultant and ensure notice is given due importance
Case study 4 - Clarity is path of successful business
Yesterday I met my old friend who was in the past running with multiple business ideas conflicting with each other and therefore difficult to prioritize. And also it never made him satisfied while climbing ladders of success in his business
But now guess what he is running 3 different businesses and endeavoring two more to go. The key to his success is Clarity of thought. He spent weeks in thought to get clarity and consulted with mentors. Clarity act at spinach and gives immense energy to Entrepreneur and key managers
