Tips to MSME entrepreneurs to handle disruption

Among the recent incidences in Indian corporate world, two are very important to understand the need of mentor-ship. The Tata incidence is from Family owned business grown into big corporate entity. Infosys incidence is from a startup created by a team of entrepreneurs. Before going to the question of why the incidences happened let us understand how the entities evolved from conception. The growth of business was a common factor in both till the incidents happened. The core promoters were not in active management when the incident happened. The difficulty in handling the future growth was the driving factor in both. In both cases the differences are more on who and how to regain the growth momentum.

In human life as we grow the body and mind start becoming stiff. The same happens in business entity. In human life birth, growth and death are accepted as natural. The maintenance of human body can only improve the livability of the body but the maintenance of the value system of the human life is the core which surpasses our death and is the essence of civilization. No generation has survived over centuries nor has survived under all circumstances. The role of time and circumstances in the changeover of the generations is pivotal in every changeover.

1. Identify right time a business entity should plan for changeover to ensure future growth.
2. Recognize the right circumstance under which such planning should start.
3. Consult right people to mentor you.
4. The core is changeover in value system of people not the changeover of people.
5. Decide your commitments and time frame to change the old values, identify the new values.
6. Try to do the things naturally. Nature teaches us best and is the only longest surviving entity in the changeover.
7. Plan for succession, the final changeover with wider implications among the stakeholders.