Are you First Generation Enterpreneur who after achieving reasonable success in Business is unable to expand further and feeling stuck?
Many successful First Generation Enterpreneurs set up excellent businesses starting from Scratch. After certain point, they find themselves stuck up unable to take their Business to next level.
Now what has gone wrong?
They were excellent Sales men. Hence Business Development, Client acquisition, liasoning and getting their work done were their core strengths.
They were reasonably ok in managing other areas of business i.e Purchases,Accounts,Administration,HR,Legal & Compliance etc. Initially either they manage these areas themselves or have a small team which does multi tasking.
When the business is small, you ought to control your cost to survive. And you keep on running business without realising the need to start spending on certain things to keep pace with growth.This miserly approach starts becoming bottleneck.
After a certain point,you need a proper Organisation Structure in Place. You need Teams, Team Leaders, Consultants, Systems & Processes. Remember Quality comes at a Cost. Til the time, you don’t ramp up this side, you are bound to fail no matter how successful you were til now.
CA Anoop Gupta