Or how to sell your company for Rs 100 Cr (company started 5 years back).
This one will be based on discussion with Mayank where he has asked me to reconsider what I am doing right now and opt for something more innovative or something which will be doing very high turnover / highly successful / which can be sold for Rs 100 Cr or more
Points to be considered -
1. What does it actually meant to be innovative
2. What can be defined as high turnover
3. What one will be doing after achieving his goal (doing something innovative or starting high turnover business)
I will be discussing each of above points in individual notes.
2. What can be defined as high turnover
3. What one will be doing after achieving his goal (doing something innovative or starting high turnover business)
1.Imp thing u r looking for is fine work n personal life balance .that can be done with say 10-20cr too. Why 100 cr?
ReplyDelete2.To built that 100 cr,u hv to toil hard for initial years...where all ur conditions wud nt be met...are you ready to forego those initial years? An entrepreneur spends few years of his life different from others,so that rest of his life is different from others
3.One thing I have learnt from family biz is,to relax n hv time for ur personal life,u need to hire professional managers.Give them decision making powers n trust them,of course with check n balances.are u willing to do that?
4. Last point,why is this cropping up when u discussed with Mayank? Why is it that u dint think of it? What is it that is lacking currently,which made u follow his advice?
Detailed reply to Nidhi as follows
ReplyDelete1. Why put any number at all? Why say Rs 10-15 . Cr, why not Rs 50-60 / 100-200 / 250-300?
You see, there can't be a specific number. It all depends on the person and his lifestyle.
So what's good for nidhi, may not be good for mayank but it might be great for Nikhil.
I would say whole exercise of putting any number (either as goal or target) is wrong way to go.
2. There's one thing you can't get back and that is time.
I am not ready to spend prime years (where I have energy and will) in planning for something which will result by the age of 50.
I am not against planning and everything but I believe power of now.
As per SEMCO, any planning of more than 5 years is difficult.
So my answer is I would time I have, with going to beaches, being with my friends and family members, pursuing my hobbies etc.
I have decided that I would spend minimum 60 - 80 days a year for my self (again, this figure will vary from person to person and his circumstances)
3. Hiring professional manager and giving them power, I am already doing that since last 2 years.
There are still some issues and system / processes are yet to be in place but I am working on it.
4. The issue was back of my mind but thanks to mayank, he pushed it on agenda.
What is currently lacking is friends, who can understand me and with whom I can do brainstorming (nidhi, Rakesh, Mayank, pinky and Anshul)
Lastly, thanks Mayank for bringing this topic forefront.
It has made me think a lot and bought a lot of clarity.