Friday, September 17, 2021

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Opinion: Your startup can thrive in the pandemic and beyond

K. Krishnan

Raw talent and intelligence are always in great supply at any startup, but the most successful businesses are the ones that find ways to supplement that dynamism with vital expertise early on in their journeys.

For entrepreneurs facing the dual challenge of launching their startup successfully (while also handling the logistical difficulties of a pandemic) having an execution partner step in can be the difference between taking off and folding up. 

Key aspects that would make an organization execution-ready

Creating an operating model, putting in the framework for operations, equipping the staff with skills to manage these operations, conflict resolution navigation and resilience-building are the problem areas a start-up can begin with.

To enable operations to run smoothly, good hygiene will be in enabling a system for problem identification through building the review mechanism.

Addressing issues like sales management, accounts payables/receivables, and cash flow management to make the business model sustainable and scalable are a few solutions that are highly customized and context-specific.

Basically, expertise lies in bridging the gap between passion and results until the systems are running smoothly, thereby enabling the attention of the client to shift back to the client’s vision rather than remain on day-to-day maintenance.

Asking the right questions

Going further, asking the right questions about what a startup’s survival of the pandemic entails, is how solutions can be developed that enable it.

This year has been especially difficult for newer companies, and businesses of all experience levels have found meeting the demands of the current scenario particularly challenging.

Once you have the basic processes in place, you can really focus on implementing the unique growth solutions to weather all kinds of variables and exigencies.

Growth Solutions

What are these growth solutions? That depends on your context and your goals. There cannot be a one size fits all protocol, especially when start-ups are so very unique in nature.

A think tank helps in a variety of business circumstances, and the perspectives they bring can help strengthen your start-up so that you can do the same – in managing not only the basic operational set-up, but also in taking a long-term view.

In every case, based on the subjective needs and aspirations of a start-up clientele, a multi-pronged strategy is employed to build sustainability into the business.

Certain think tanks even continue to remain in an advisory capacity beyond the launch stage. That’s not surprising at all, to us. Some start-ups recoil at the idea of being handheld, but smart ones know that on-the-ground expertise is always valuable.

When you combine youthful energy with hard-earned expertise, you equip your company to weather any kind of crisis. I strongly believe that start-ups can find firm footing even in this pandemic, and those who are able to do this are fortified to withstand future challenges too.

Execution outsourcing provides an unbeatable advantage and is an investment that reaps rewards not just now but well into the future.

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ABOUT THE AUTHOR

The author is a founding partner and head of the strategy at thinksynq, a Chennai-based execution-focused consultancy run by world-renowned business practitioners. He is a former CEO of Airtel India, and also has over 40 years of multi-industry experience in both strategy and operations, at organizations such as the RPG Group, the Murugappa Group & AF Ferguson.

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