Replacing yourself in your Company

Multiplying yourself
Replacing yourself in your own business
by
Lavanya Rastogi
Talk at Emerge Friday 2.0, NASSCOM

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!

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Replacing yourself in your Company

by OSSCube LLC A Global Open Source Enterprise for Open Source Solutions on Jun 12, 2010

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