Saturday, December 04, 2021

Change at the peak of success

By EMN Updated: Jan 18, 2014 9:41 pm

Fr. T.O.  Sebastian

[dropcap]T[/dropcap]o continue your business when you are at the peak of success is to regress. If then the only way to progress is to change when you are at the top of business. To continue further is to begin to incur losses and invite your own exit. It is better for you either to change or to quit before you are thrown out in this world of sharp competition. Continuity is not a value here, instead discontinuity is the secret of success. When I visited Kerala or Chennai, Bangalore or that matter Dibrugarh I have seen several shops that have changed their business. They were quick to notice the change in consumer taste and accordingly in the same shop now they deal with different goods and services. Therefore the maxim “Rock the boat of life in the middle of the sea” comes true. With the advent of T.V. many cinema halls have been turned into shopping complex and with the wide spread use of the mobile, the P.C.D’s have literally vanquished.People generally like to keep the status quo. Change is irksome and uncomfortable. No one likes to leave the comfort zone and plunge into the unknown. Therefore people like to continue where they are and slip down to the bottom till they become extinct in the business. Therefore rock the boat of your life in the middle of the sea at the peak of success. This is an act of bravery. Nobody will give you any guarantee, nobody will approve cent percent your move. Risk is your own. The lose or gain is also equally yours. At the start of 1970’s I was in Bangalore. There was flourishing I .T.C (Indian Tobacco Company). Job seekers dreamed of getting employment in that company. It was same with the ITC in Andheri West in Mumbai. But due to the statutory warning on every packet: “Smoking is injurious to health” an awareness was created to reduce smoking or to give it up altogether. Thus the sales decreased and the company went into the production of multiple goods for its survival and thus did not face closure. An entrepreneur must take risks. He must plan out his strategy and take calculated risks, even then he must be prepared to fail. But when there is passion for the cause, the failure itself becomes an opportunity to gain experience and forge ahead.
The real leaders and entrepreneurs are some what loners. They work independently, not seeking too many approvals. They take their own decisions in the solitude of their cells. They are people with self-confidence and courage, ready to stand up to any challenge and ready to challenge any existing system. They are rebels who question everything they do. A successful entrepreneur has to be always on the alert, always monitoring, questioning, enquiring and stock-taking to find out where does his industry go? What is its life-span? What remedial measures need to be taken? At what moments should the inevitable changes should be introduced to avoid a suicide of the industry.

By EMN Updated: Jan 18, 2014 9:41:31 pm