Survival of the Fittest

Entrepreneurs can learn from the law of the jungle – “survival of the fittest.”

Entrepreneurs must find ways to survive in any economy and business climate. Having the best product or service, superior management, strong processes and so on are not the only things necessary for survival.

Imagine the cheetah – the fastest animal on earth. However if not alert, a lion or other predator will devour the cheetah. Being fast would not help then.

Having the best of everything is not sufficient for Entrepreneurs. Survival requires being alert, adaptive and quick to react to the changing circumstances. Relying on one’s past successes is not adequate for survival in the future.

Being fittest in this environment does not necessarily mean being the best. It requires having “street-smarts” to navigate through these troubling times.

Are you fit enough to survive?

Ravi Patel

http://www.patelCFOservices.com

 

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Published in: on August 22, 2017 at 3:53 am  Leave a Comment  
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Leadership by Example

Leaders often encourage their followers “to give their best” to whatever they are doing. Entrepreneurs do the same when motivating employees towards fulfilling the Mission of the company.

In a team environment it is normal for all employees to contribute to fulfilling the objectives of the mission. However, is it always true for the leaders?

If Entrepreneurs expect the best from their employees, then they too should give their very best to the employees and the company. Do they? Leadership by example is not just a catchy phrase!

Entrepreneurs need to give their best to the organization to inspire their employees to do their very best. If Entrepreneurs show an attitude of “do what I say, not what I do,” their employees are not going to be motivated for the long haul.

Doing the right things for leaders means giving 100% or more to prove to the employees that they all are part of the same team and everyone needs to contribute their very best.

Ravi Patel

www.patelCFOservices.com

Published in: on May 24, 2016 at 4:12 am  Leave a Comment  
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Would you Like to be the Biggest or Best Company?

Entrepreneurs, what would you like your company to be – the best or the biggest? A quick, flippant answer would be to be both.

Becoming the biggest is a lofty objective, but achievable if you have a special niche in the marketplace. Being bigger, with reasonable profitability, allows access to resources for further growth. However, the entrepreneurship spirit is often lost as the size of a company gets bigger. More importantly, being the biggest says nothing about the quality of the organization. Being the biggest could mask inefficiencies in the short term.

On the other hand, being the best reflects a philosophy regarding the quality of products and services, processes, customer service, people and so on. All these have to be exceptional to be the best. While short-term costs may be higher to achieve the status of being the best, the long term prospects for growth are phenomenal. Competitive differentiation is most pronounced with being the best and might allow a premium for one’s goods and services.

Being the best allows you to become the biggest, but being the biggest does not automatically mean that you are the best.

What would you rather strive for – being the biggest or the best?

Ravi Patel

http://www.patelCFOservices.com

Published in: on October 28, 2014 at 3:29 am  Leave a Comment  
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