I attended a business coaching workshop with my father and two employees from my father’s company last weekend. This 4 day workshop had about 40 attendees. All business owners or higher level employees in small and medium enterprises.
I was surprised how little all the business owners knew about their business. I guess that is why they were there. No one had answers to the following questions:
- How big is your market?
- What is your market share?
- What is your growth strategy and implementation plan?
- What should be in your sales kit
- For manufacturers, view what is your process flow
- How do you measure quality
Of course, diagnosis my father and I did not have any answers either.
But it was definitely surprising to see how clueless most business owners there were about their business. These were no small business either. The smallest business owner’s revenue was 2 crores or USD $320, sildenafil 000. The largest business owners were at 500crores or $80Million employees hundreds of people. All of us were having difficulty in scaling our business because we lacked processes and clear lines of responsibilities in our company.
Even though I have an MBA from IIM Lucknow, I felt that I learned more about operations in this 4 day courses than I did in my 3 year part time MBA. I also felt that I learnt more about sales and leadership here than I did in my class.
I now hope that I can work with my father and his leadership team to transform our business in the next 6 months.