Replacing yourself   by lavanya rastogi - osscube
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Replacing yourself by lavanya rastogi - osscube

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Too often, business leaders are not able to let go. Year on year, they end up doing the same activity which eventually stunts their growth and that of the organisation as well. Of course, this is ...

Too often, business leaders are not able to let go. Year on year, they end up doing the same activity which eventually stunts their growth and that of the organisation as well. Of course, this is easier said. Developing the next line of leaders is the key to business continuity and can be a rather challenging task. More so than any other. Most often, we see organisational identity merging with that of the entrepreneur, who finds it impossible to extricate himself and view the larger picture. Too often he is caught in the mire of routine activities and not able to execute the role of a leader.

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    Replacing yourself   by lavanya rastogi - osscube Replacing yourself by lavanya rastogi - osscube Presentation Transcript

    • Multiplying yourself
      Replacing yourself in your own business
      by
      Lavanya Rastogi
    • How is the talk organized
    • Getting on the same page!
      Its not about retiring, walking away, cutting and running, playing golf, or even falling off the face of the earth… .
       
      Expanding your capacity to do more in your business/life!
    • Contd.
      Multiplying = Replacing = Complementing…
      ……they all mean the same thing:
      Delegation is different ! 
      Its not an easy road so You must have a clear payoff in sight :
      • You get to focus on what is most important for the business r ight now.
      • What % age of your time do you spend on Revenue Generating activity during the day ?
      • You get to focus on what NO ONE else is focusing on right now.
      • You get to focus outward and build acquaintances that lead to relationships and to business!
      • You get to build yourself a balanced lifestyle
    • Why should you consider replacing yourself ?
      • Building scalability in the business
      • Distinguish between your capability and your business's capability : Get a Reality Check..get the model right
      • I have have a business…Vs. I am the business
      • Working in the business Vs. Working on the business
    • Contd.
      • Leadership at the 2nd rung will appear only when there is a need and space for it
      ……Oh..I do all the critical Customer Calls…and I also do all the recruitment decisions….and the appraisals…and the technology choices…and representation at forums…as I am the best brand ambassador… …….la deeda….dumdeeda….
      • There will be times when you will either :
      really…really….NEED it !, or
      wish you HAD "it"!!
    • When should you start consider replacing yourself :
      • Survival Phase is Over….scaling up is on the menu
      • A new period of incubation is beginning …opportunity..product..market..or model
      • New Shore you need to visit…
      • When you are ready to move from Success to Fulfillment
      Basically….anytime the realization dawns on you is a good time !
    • How do you replace yourself ?
    • Step 1: Get clear about what “Substance” do you provide in the business
      Contribution….GROSS Vs. SUBTLE … be fair!
      Manager - Inspiration
      Manager - Fire fighting
      Manager - Prospect Charming/ Bonding
      Manager - Neutralizing Potential Attrition
      Manager - Demonstrating Credibility
      Manager - Bonding with key team members
      CEO
      Vice President of (BD)
      Manager - Finance,
      Manager - Legal,
      Head of PMO,
      Manager - Corp Communication
      Manager – Recruitments & Appraisals
      Manager - Administration
      Manager - of whatever needs managing right now !
      Manager - Managing Everything..
    • Contd.
      Beware of two myths :
      “I am the CEO Myth”
      “Professional CEO Myth”
    • Step 2: Build a priority order of replacement
      Therewill always be talent availability, budget and business criticality considerations….the balancing act
      Administrative Acumen Recruitment Function PMO Finance Legal/Compliances Strategic BD Strategy Alliances/Partnerships
    • Step 3: One person may never be enough
      • Think TEAMS… eg: 3 people team replaced me in Recruitments, 4 in finance
      • Think PARTNERS eg: Accounting and Financial Control; strategic Business Development
      • Think PROCESSES/TECHNOLOGYeg: Sugar HR Module, Sugar PM Module, Buxfer
      • Think BENCH STRENGTH eg: building multiple brand ambassadors
      • Think ECOSYSTEM eg: Advisors-Location-Peers Group
      • Think CULTURE : Make it obvious….. eg: V1 Club, toastmasters, OSS Camps etc.
    • Step 4: Build Measurement Matrix
      Including the tolerable threshold for Chaos!
      Aim for a quantum leap in performance!
    • Step 5:Engineer your Company to be scalable
      • Managing form the Middle
      • Building a network of Enablers
      • Duplicate the model across board
    • Leadership and Governance Strategy
      Vision and Will
      “ENABLERS”
      You …Soul of the Company
      Business Acquisition Strategy
      Financial & Ops
      Strategy
      Order and Structure
      People And Execution Strategy
    • What to expect ?
      • Not everyone will work out….there will be costly mistakes
      • Charge it to experience….wisdom is expensive
      • Expect to be Criticized for being "less involved"/ "distracted" / "unavailable" / "in a hurry"
      • Difference in perception of value and potential will certainly crop up…longest serving members
      • People you are mentoring….will be the last to realize
    • The ability to replace myself: What has it meant for me :
      I get to work with people smarter than me ….learning is continuous and tremendous
      The company has skills, knowledge & experience completely independent from me
      I can always provide the outside perspective..without being weighed in… strategic edge
      The exposure that I have been able to synthesize for my ventures is tremendous
      As an entrepreneur I have not had to let opportunities go by
    • I can pursue and expand both Success and Fulfillment…….
    • Of all people on the Payroll…I am least likely to be missed….!
      Questions ?
    • Thank You!