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Srikant Parthasarathy

Srikant Parthasarathy

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Srikant Parthasarathy's Advice

gather as much information of the client

Consulting is a space which not only challenges your intelligence quotient but also tests your skills of perseverance. The fact to be remembered is... more>>
Couple of years from now
I see myself as a key voice in the domain of business intelligence and strategy delivering new theories redefining our existing understanding of business models.
Things that I find challenging
The most challenging part of this career line is to keep yourself abreast with the latest developments in the industry as well as the education space. You are questioned on a day to day basis on the assumptions that you have. This makes it challenging as you have to delete existing knowledge and replace it with new knowledge as you progress. Sometimes your knowledge become redundant in just a couple of minutes. I believe that is the starting point of moving up the career line in this domain.
Technology Trend
There is a flurry of activities in the online selling space. I would refer this as the “Flipkart Effect”which essentially redefined the consumer profile by offering a consumer a starting point to look at the “bottomed” prices in the market. This poses a new challenge to businesses as the consumer who has access to a wide array of technologies weighs the products sold by different sellers. This forces the seller to engage in developing customer centered websites and providing new tools to the consumer to assess the products. This is the major trend that should be watched in the product arena as the seller who proactively engages in collecting data on the consumer behavior is able to sell the product at a premium. A worthy payoff for the effort put in.Another trend to look out for is the merger of Mobile Phone services and Retail industry with banking. It already is in its preliminary phase. Soon you would be able to deposit money into your mobile phone and even earn interest on the same! A whole gamut of technology is beginning to unfold.
Consulting is a space which not only challenges your intelligence quotient but also tests your skills of perseverance. The fact to be remembered is that the likes of Mckinsey and Bain have always emphasized on the exhaustiveness of research on the company you plan to start an engagement. Consulting as a space is no different from psychology. You have to mould your strategies according to the behavior the client exhibits and the needs of the clients. The foremost step is to gather as much information on the client and disseminating that information to apply to the client’s problem solving.
For example,  my client, a well-known retail store who had been making losses found out that the real reason for the loss was a one-way street a few buildings away resulting in diversion of traffic to his street which in turn  resulted in dearth of parking space. The reason was simple and had resulted in almost 16% dip in footfall. The key here is to bring the pieces of information together to coherently construct a solution for a problem. No data can be discarded by the consultant as worthless.
Strongly Recommended
Strategy as a process has for long been a domain of top management. Soon real time information of companies would be available. As information is available on a real time we would require analysts who disseminate that information. The information overload would be a crucial factor in the future resulting in demand for professionals who can cut through the data and look at key components in the deluge of  information. This literally is searching for a needle in a haystack and fortunately enough it is a golden needle just like information. This would result in strategy building spread across all levels of hierarchy.
Lesson Learned from Life
Never under estimate the potential of simple things. I remember an assignment where the client was showing a slowdown on projects. We pinned the cause to the turnaround of employees however we were puzzled to find that the new set of employees were far more qualified and far more experienced than the previous lot. It was perplexing as it should have resulted in growth. We interviewed a client and found out that the client who was a Small Public limited company had not re-engaged our client as they knew the employees had left. When we delved deeper we found that the employees who had quit had a simple understanding amongst themselves to send a “Thank you for your time” note to their clients. This message washand written to not make it seem like a computer generated note. A simple thing had resulted in 33% reduction in number of projects. So the important part to remember is not to lose sight of little things in business. Businesses however advanced, are still revolving around trust and primarily the client comfort level.
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