A Study of Business Lessons

In a business, good working environment is a must or else the team members will not grow. Excavate the redundant ideas and concentrate on the most wanted ones, Give the team members room to grow.

A company needs to invest in a combination of products or services. Some of them will give returns quickly and keep it in business. Others will take a lot of time. But when they start delivering it is enough to assist the organization.

Some people are good at managing customers. Others are good at developing products. An organization needs a team of different people who can do different things.

If someone starts performing, many feel that person can then do everything on his or her own. But continuous supervision and experimentation must continue. Though it is a monotonous work, the total output can double, with proper monitoring and management of resources.

People and products may have different requirements of money, support, motivation, and so on. A company needs to continuously invest in training, development and similar activities. If people become complacent, their productivity will be affected. People may be infected with negative ideas. They need to be motivated all the time.

In his book “The High Performance Entrepreneur” Subrato Bagchi (of Mindtree Consulting) said, “Building a company is not planting a giant tree. It is about creating an entire forest someday.”

Good working environment is a must. People should be given challenges to overcome, opportunities to grow and freedom to work. They should focus on the mission and not waste time and resources in irrelevant activities. The opportunity cost of wasted resources is very high. Hence investment in short and long-term returns is to be seen.

Strengths and weaknesses of the team members need to be identified and roles to be given based on that. Invest in a bunch of products, services, and people. People need resources to do their job, only paying them is not sufficient. Give them training and resources required. Motivate the team members to keep their minds free of negative thoughts.

The business will grow to become the life and shelter for so many others. It will not belong to the owner(s). The owner will belong to it. These are signs of success.