How we are our own enemies when it comes to business growth???
Why we lose out on the best opportunity of wealth creation???
1) There are businesses and businesses
2) Some like Restaurants, Manufacturing, Logistics (Zomato) are man power intensive and cannot be started without having a team
3) But there are other professions like Doctors, Architects, CAs, Financial Advisors which can start like a one man business
4) The Manufacturing “types” of business start with the belief that coordination / team work / motivation / getting work done from people is the bed rock on their business growth
5) The Doctors and Professional types believe that Personal Skill is the be all and end all of business growth
6) Therefore we do not see many of these Professionals emerge into Entrepreneurs establishing their Brand Power
7) Even Designers like Ritu Kumar, Sabyasachi or even someone like Mucchad Panwala or Naturals Ice Cream or Theobroma become big brands
8) Why do Practitioners like Financial Advisors etc get stuck up in the system of Practice ?
9) It is all because of their basic belief system that these are Individual Skill based businesses
10) Refusal to accept that there can be many who can replace them slows down their transformation
11) They may say whatever, but have you ever seen the world coming to an end by the passing away of a skilful professional
12) The world continues to thrive and replacements are born and perform even better
13) The realisation that cloning is possible and skills are never unique is essential trait of an Entrepreneur
14) The Skill Mentality gives rise to Big Ego
15) And Big Ego comes in the way of creating an organisation
16) An Entrepreneur never ever believes that he is the best
17) That is the most important and essential trait of a businessman; the corage to hire someone better than him or her
18) An Entrepreneur goes about creating a team of great professionals
19) He ushers in leadership and builds a culture that acts as a glue to keep an organisation together howsoever large it may be. We may call this concoction as ‘Brand’
20) Business in the market can only be successful based on the principles of high value (great stuff at reasonable prices) which only an organisation with the power of scale can bring to the table
21) A Practitioner cannot break free from the shackles of his prejudices about his own greatness
22) The Practitioner does not want to accept that great performers eventually FALL like so many great sportspersons who had to give way new talent from time to time
23) This inability to believe in and build teams of talented people is the bane of many a Practitioners
24) Practitioners make good money till they are Running / Performing
25) But that deprives them of creating a magnet (brand) that attracts business and brings revenue to them whether they themselves work or not
26) They can go on a years break and still their revenues can grow
27) Entrepreneurs truly are in the business of building an Asset System that Works Automatically and creates Wealth without their direct participation
28) Practitioners truly are in the business of building a Cash Flow System that delivers wealth till they are delivering value
29) Their biggest Risk for Practicioners is that, “the Cash Flow Tap will run dry the moment they stop working”
30) A Practitioner does not leave behind anything for their next generation except memories and some cash in the Bank
31) An Entrepreneur leaves behind an Open System that can be made bigger and better by the next generation
32) It is the EGO of a Practitioner that ‘he is the best’ that deprives him or her of building an Asset that could deliver wealth continuously into the future, that would never die and that would produce benefits for several generations that follow
33) The Practice that seems so beautiful at the age of 50 or even 55 starts looking run down as the Practitioner ages away into the 60s and 70s. Slowly and steadily rust settles upon the Practice while the Business System continues to sport that metallic lustre that shines brightly under the sun
