Doing Right

In entrepreneurial companies doing the right things is critical for growth. In general, who is right should not matter as much as doing what is right.

How does this actually work in practice?

If the Entrepreneur has created a culture of favoritism and is partial to employees whom he/she likes, then who is right will take precedence. Employees will try to prove they are right to win favors with the Entrepreneur and might even try to put others down. Not a healthy environment!

On the other hand, if the Entrepreneur has established a culture of teamwork and continuous improvement, then what is right will prevail. There will be more emphasis on doing the right things for the company rather than establishing who is right. In this case it becomes a win-win situation!

What would you rather have?

Ravi Patel

Published in: on December 3, 2019 at 7:15 am  Leave a Comment  
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Fix it Even If It Ain’t Broke!

You must be surprised at the twist on the popular saying. The normal convention is that if things are not broken, do not fix them. People don’t like change.

Well, challenge the norm!

If things are not broken, they might also be status quo. Don’t live with such a situation, rather find ways to improve the status quo. Commit to continuous improvement to create a high quality company.

When things are slow, review things that are not broken with an eye to make them better. It may serve you well when activity picks up and you might not have time then to review your operations.

Ravi Patel

www.patelCFOservices.com

Published in: on January 14, 2014 at 4:53 am  Leave a Comment  
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Operational Performance Measurement

Do you measure performance in your company? What metrics do you use?

While most Entrepreneurs understand financial performance, it is also important to measure company performance in operational areas. Setting the proper metrics relevant to your company by understanding the critical business processes; communicating the importance of such metrics to your employees; measuring performance against the metrics periodically; publicly posting the results for employee viewing; and formulating actions to improve performance are the keystones of continuous improvement.

The significant metrics should be limited, easily understandable, and true indicators of performance in your company.

Ravi Patel

www.patelCFOservices.com