A Playbook for Entrepreneurs

With the Super Bowl  on Sunday, the football season is over. It was impossible 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 spent hours prior to the game analyzing their competitor’s game, strengths and weaknesses, strategies and so on and blended 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!

Ravi Patel

http://www.patelCFOservices.com

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Published in: on February 6, 2018 at 4:56 am  Leave a Comment  
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Dealing with Change

The country and its business environment is going through transformation. How should Entrepreneurs deal with this change?

A simple saying –  “Complain not about the wind. Adjust your sails.” – offers great business advice for Entrepreneurs in these times.

It is very easy to complain about all the things that are preventing Entrepreneurs from succeeding. Some of the issues faced by Entrepreneurs including cash shortages, employee layoffs and poor morale, unsustainable overhead and fixed expenses, misaligned ratios of variable expenses to revenues, customer and product/service issues, high debt levels, government regulations, high tax rates and so on are ripe topics for complaining.

Losers will take this opportunity to complain and find excuses to rationalize their failure, just as a poor sailor frets about the winds.

Winning Entrepreneurs and leaders, instead, adjust their sails to move forward on a steady course. Finding ways to increase cash flow; having employee work-sharing programs and non-monetary motivational programs to boost morale; reducing overhead and fixed expenses; realigning ratios of variable expenses to revenues, customer partnerships and product/service improvement initiatives; and restructuring high debt loads are all positive ways to adjust the sails.

What would you rather do? Complain about the winds or adjust your sails. Do the Right Things!

Ravi Patel

http://www.patelCFOservices.com

Published in: on January 31, 2017 at 4:29 am  Leave a Comment  
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What can Football teach Entrerpreneurs?

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!

Ravi Patel

http://www.patelCFOservices.com

Adapting to Changing Circumstances

Could a simple saying –  “Complain not about the wind. Adjust your sails.” – offer great business advice for Entrepreneurs?

In these economic times and uncertainty, it is easy to find excuses on all the things that are preventing Entrepreneurs from succeeding. Some of the issues faced by Entrepreneurs including cash shortages, employee layoffs and poor morale, unsustainable overhead and fixed expenses, misaligned ratios of variable expenses to revenues, customer and product/service issues, high debt levels and so on are ripe topics for complaining.

People who give up easily will take this opportunity to complain and find excuses to rationalize their failure, just as a poor sailor frets about the winds.

Winning Entrepreneurs and leaders, instead, adjust their sails to move forward on a steady course. Finding ways to increase cash flow; having employee work-sharing programs and non-monetary motivational programs to boost morale; reducing overhead and fixed expenses; realigning ratios of variable expenses to revenues, customer partnerships and product/service improvement initiatives; and restructuring high debt loads are all positive ways to adjust the sails.

What would you rather do? Complain about the winds or adjust your sails. Do the Right Things!

Ravi Patel

http://www.patelCFOservices.com

Learning While Losing

Too often, many sports coaches consider winning to be the only thing that matters. But, is losing always bad?

Losing because you are not good at something or you have not done enough to prepare yourself to win, then it has no redeeming qualities. However, if you are in top shape, are always practicing and improving, losing to a slightly better competitor is not necessarily all that bad.

Losing can lead to winning if you learn the lessons from your loss. What did the winner do differently? What could you have done better? Where did you feel you needed more effort or skill? If you can answer these type of questions, then they could be winning lessons.

Entrepreneurs can also learn the same winning lessons from losses or failures. If you learn from losses and make changes to improve your business and grow stronger, it is in fact quite positive.

Losing is not always bad if you learn some winning lessons from it.

Ravi Patel

www.patelCFOservices.com

Published in: on April 14, 2015 at 4:17 am  Leave a Comment  
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Is Losing a Bad Thing?

Many sports coaches have considered winning to be the only thing that matters. But, is losing always a bad thing?

If you always lose because you are not good at something or you have not done enough to prepare yourself to win, then losing has no redeeming qualities. However, if you are in top shape, are always practicing and improving, losing to a slightly better competitor is not necessarily all that bad.

Losing can lead to winning if you learn the lessons from your loss. What did the winner do differently? What could you have done better? Where did you feel you needed more effort or skill? If you can answer these type of questions, then they could be winning lessons.

Entrepreneurs can also learn the same winning lessons from losses or failures. If you learn from losses and make changes to improve your business and grow stronger, it is in fact quite positive.

Losing is not a bad thing if you learn some winning lessons from it.

Ravi Patel

www.patelCFOservices.com

Published in: on February 6, 2012 at 5:50 am  Leave a Comment  
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