Think what we thought, do what we did... we will only get what we got, says Upohan management consultants CEO
Advait Kurlekar, CEO, Upohan management consultants, helps startups and those firms beyond the startup phase as well, define and implement business strategy.pune Updated: Sep 01, 2018 16:55 IST
In the startup world the evolution of a language that typifies certain business decisions for entrepreneurs is often clouded in a shroud of online haziness. What does the term ‘business strategy’ mean for a startup?Advait Kurlekar, CEO, Upohan management consultants, helps startups and those firms beyond the startup phase as well, define and implement business strategy.
Strategy means making clear-cut choices about how to compete. It’s a coherent mix of policy and action designed to overcome a challenge.
Is it important?
It is as important as a compass to a ship. Without it the ship will drift and never reach its destination. Additionally, strategy also helps an organisation define its destination which a compass doesn’t. If we think what we thought, we will do what we did and get what we got!
How do startups typically strategise? Do they start off with a strategy or develop it along the way?
My experience is that startups don’t strategise. And that’s one of the prime reasons why the success rate is abysmally low. An idea doesn’t automatically make a business. You need to validate that idea and develop a plan on how to scale and monetise that into a successful business. A startup has to migrate to an entrepreneurship which in turn needs to migrate into a business. Having said that, strategy cannot be something that is cast in stone. Things change and will continue to change. One needs take cognizance of that. Some part of even a well-laid out strategy will change over a period of time
What’s the strategy for founders to bring in the specialists?
Founders as well as consultants like me both have a role to play. Founders have to lay out the vision, their dream for the company and the business. A consultant’s job is to then translate that into operational terms so that other team members are clear on the strategy and the action plan implementation. They need to be clear on what to do Monday morning.
First Published: Sep 01, 2018 16:54 IST