Change or Perish - The New Success Mantra
Date: Wednesday , July 13, 2016
Headquartered in Hyderabad, TalentSprint is tech-driven skill development and training platform that empowers the youth to take-up exciting career opportunities by offering them experiential learning through a mix of cloud, digital and social media.
\'Change or Perish\' - that\'s the reality for all organizations in recent times. The market is tough and fundraising from Venture Capitalists is becoming a faraway dream. The storm outside will eventually effect all companies, irrespective of whether it is an established company or a start-up. So how do you ensure that your growth is self-ignited and does not need an external catalyst or hindered by the storm? Here are a few tips to help you do this:
1. Fail a few times to get it right: As we all know, exploring the unknown could yield exponential results. So we need to try new products and revenue lines constantly. Don\'t get emotionally attached to your products and strategies. \'Fail quick, pivot and start over\' is the new mantra.
2. Celebrate risk-taking rather than getting it right the first time: Coming up with good ideas and implementing them quickly is critical than waiting for \'The perfect idea\'. Rewarding only those who get it right the first time will discourage risk taking among your employees.
3. Recruit people aligned to the organization\'s vision: Such employees will understand the goals, align and adapt to change quickly. Fast learners who don\'t shy away from cutting-edge technology and paradigm shifts should form the core team.
4. Shut the door to democratic decision making: Not everyone will understand why it\'s important to change or be willing to give up old ways. It\'s important to take people along, but speed is critical. So identify partners who are critical to success, work with them and move forward; others will follow.
5. Remove the dead wood fast: The \'urge to win\' is a strong motivator and binds the team together. Bad performers or non-believers will strive to derail your progress. Be quick to take action before the damage is done.
6. Catch them early: Look around you; are you surrounded by twenty or thirty year olds? Or is the average age of your leaders inching towards forty? Yes, we are talking about your leaders, not the entire team! The notion that experienced people know more and their maturity matters is going out of the window. Replace them with younger, bolder, energetic and ambitious team and experience the difference.
7. No holy cows: There is nothing that is sacrosanct. Something that worked in the past might not yield the same results. Keep evaluating and innovating strategies, plans and tactics. We constantly witness revolutionary ideas becoming a success in different industries. Conventional leaders and industry stalwarts would have discouraged most of these revolutionary ideas, let alone predict their success. So go out there and try some radical ideas. Embrace madness!
8. Don\'t take your eye off the ball: Initiating a change and delegating it too early will cost you. The change if implemented wrongly can cause more damage and the outcome will not be what you predicted. Committing to the change is 80 percent of the success.
9. Visualize Greatness: whether it is knowledge, ideas, or results, aim at 10X growth. Break the barrier of incremental growth. Exponential growth is what catches attention and will keep you ahead in the game.