Create a Playbook for your Business

The football season is here. It is hard to miss the coaches on the sidelines with color-coded sheets of possible plays to be called for that game. The head coach with all the assistant coaches spend hours prior to the game analyzing their competitor’s game, strengths and weaknesses, strategies and so on and blend it with their own team’s core competencies to create a game-plan for winning. Disciplined coaches with a good playbook are generally winners.

Entrepreneurs, do you have similar “playbook” for major strategic actions to be used against, in or with competitors, marketplace, economy, opportunities, employees and so on? Have you worked with your key leadership team to develop such a playbook?

Winning on the field, similar to the marketplace, requires a lot of planning, analysis, strategizing to come up with the ideal game-plan for success. A playbook for winning a football game is similar to one required for succeeding in business.

Create a playbook for your business and ensure that you call the right play for the situation. Do the Right Things!

Ravi Patel

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Published in: on September 18, 2018 at 4:30 am  Leave a Comment  
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Seeing What People Could Be

“A good coach will make his players see what they can be rather than what they are.” – Ara Parasheghian.

Like good coaches, Entrepreneurs have to find the potential in their people. When hiring, don’t merely evaluate the current skills and experience of the applicant. Rather, determine what the person can become with proper coaching and training.

Given the right coaching, raw talent can be molded to perform at exceptional levels in any organization. The problem for Entrepreneurs is that they mostly focus on short-term needs and do not have a long-term vision for human resource acquisition and management.

When a sculptor views a stone, he/she is evaluating whether it could be transformed into a thing of beauty. Similarly a land developer sees beyond the empty expanse of land and has a vision of what a housing community or golf course it could become.

Entrepreneurial leaders have a great vision of what their idea or product could become. They need to use a similar vision towards their people and see their potential rather than what they are right now.

Do the Right Things!

Ravi Patel

www.patelCFOservices.com

Published in: on July 18, 2017 at 4:35 am  Leave a Comment  
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Coaching Employees

“A good coach will make his players see what they can be rather than what they are.” – Ara Parasheghian

Like good coaches, Entrepreneurs have to find the potential in their employees. When hiring, don’t merely evaluate the current skills and experience of the applicant. Rather, determine what the person could become with proper mentoring and training.

Given right coaching, raw talent could be molded to perform at a high level in any organization. The problem for Entrepreneurs is that they mostly focus on short-term needs and do not have a long-term vision for human resource acquisition and management.

When a sculptor views a stone, he/she is evaluating whether it could be transformed into a thing of beauty. Similarly a land developer sees beyond the empty expanse of land and has a vision of what a housing community or golf course it could become.

Entrepreneurial leaders have a great vision of what their idea or product could become. They need to use a similar vision towards their employees and see their potential rather than settle for what they are right now.

Do the Right Things!

Ravi Patel

www.patelCFOservices.com

Being a Good Coach

As an Entrepreneur, are you a good coach?

Lessons from a good coach – whether in business or personal situations – remain throughout life. How often can you refer back to something that a great teacher taught you and marvel at the teachings, even after many years!

On the other hand, bad lessons also stay in one’s memory; however, what would you rather be remembered for?

Good leaders most often inspire their followers not only with the actions they take, but also with what they teach their followers. As a business and Entrepreneurial leader learn to educate your employees the right way to think, and the correct actions will follow for the rest of their lives. Don’t always tell employees what to do, but make them learn how to do it.

Most Entrepreneurs and managers don’t take the time to coach their employees as they claim to be too busy and are focusing on current tasks. For the long term success of your company and as a true leader, it is more important to enlighten your employees so they themselves can be effective at what to do.

Do the Right Things – strive to be a good coach for your employees.

Ravi Patel

http://www.patelCFOservices.com

Published in: on February 7, 2017 at 4:31 am  Leave a Comment  
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Trusting Others

New Entrepreneurs like to be in “total” control. It is difficult for them to acknowledge that other people can do as good, if not a better, job than they can.  They also believe that if they share their ideas with people, someone may steal them and take advantage.

It is all about trust. However, it is less about trusting other people, but more about not trusting themselves enough.

Entrepreneurs do take significant risks in the business sense – that is embark on new ideas, in an uncertain environment, with a not fully developed product or service, no ready customers, lack of adequate funding and so on. They are good at that.

When it comes to relying on other people, their risk-taking is limited. While they may trust family members, it is difficult for starting Entrepreneurs to trust outsiders. So what is the problem?

In my opinion, the issue is that Entrepreneurs do not have sufficient trust in themselves to identify, train, and coach the right people to delegate key responsibilities. Sometimes loners, people management skills are the least ones they have developed. This often creates a situation where Entrepreneurs end up performing all key tasks and stretching themselves too thin.

Entrepreneurs need to train and then trust themselves to make appropriate people decisions so they can then trust those people to do the things right. The sooner they learn to do that the faster their growth and success.

Ravi Patel

www.patelCFOservices.com

Published in: on November 17, 2015 at 3:39 am  Leave a Comment  
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Communicate for Meaningful Action

Managers sometimes complain that their employees don’t seem to be following directions too well? They gripe that they tell their people what to do, but it doesn’t seem to come to fruition.

To obtain employee buy-in and meaningful action, Entrepreneurs might want to communicate to their people why they need do things instead of what they should do.

When you tell people what to do, they generally might follow your directions without understanding their mission. If they are going on the wrong path, they might not even be aware of it since they are merely following instructions.

Instead, coaching employees why they are supposed to do certain tasks sets the objective or  goal for them. It makes it easier for them to figure out what to do to get there as they are usually closer to the action. They might even find a better way to do things than you could have told them. Even if they require guidance on what to do, it is based on a specific objective.

For meaningful action, it is better to direct employees as to why things have to be done rather than what to do.

Ravi Patel

www.patelCFOservices.com

Published in: on May 12, 2015 at 4:00 am  Leave a Comment  
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Calling the Right Play

The football season is in full swing. It is impossible to miss the coaches on the sidelines with a color-coded sheet of possible plays to be called for that game. The head coach with all the assistant coaches spend hours prior to the game analyzing their competitor’s game, strengths and weaknesses, strategies and so on and blend it with their own team’s core competencies to create a game-plan for winning. Disciplined coaches with a good playbook are generally winners.

Entrepreneurs, do you have similar “playbook” for major strategic actions to be used against, in or with competitors, marketplace, economy, opportunities, employees and so on? Have you worked with your key leadership team to develop such a playbook?

Winning on the field, analogous to the marketplace, requires a lot of planning, analysis, strategizing to come up with the ideal game-plan for success. A playbook for winning a football game is similar to one required for succeeding in business.

Create a playbook for your business and ensure that you call the right play for the situation. Do the Right Things!

Published in: on September 17, 2013 at 5:39 am  Leave a Comment  
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Seeing the Potential

“A good coach will make his players see what they can be rather than what they are.” – Ara Parasheghian

Like good coaches, leaders have to find the potential in their people. When hiring, don’t merely evaluate the current skills and experience of the applicant. Rather, determine what the person can become with proper coaching and training.

Given the right coaching, raw talent can be molded to perform at exceptional levels in any organization. The problem for Entrepreneurs is that they mostly focus on short-term needs and do not have a long-term vision for human resource acquisition and management.

When a sculptor views a stone, he/she is evaluating whether it could be transformed into a thing of beauty. Similarly a land developer sees beyond the empty expanse of land and has a vision of what a housing community or golf course it could become.

Entrepreneurial leaders have a great vision of what their idea or product could become. They need to use a similar vision towards their people and see their potential rather than what they are right now.

Do the Right Things!

Ravi Patel

www.patelCFOservices.com

Published in: on July 9, 2013 at 4:54 am  Leave a Comment  
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