Multiplying yourselfReplacing 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 !

Why should you even consider replacing yourself ? When is a good time to begin ?

How to go about it: My Experience Engineering the Organization to Succeed…(as in succession)

What to expect in the journey

What has it meant to me….

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 dee da….dum dee da….

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 is the ' Substance' you provide in the business:

Step 2: Build a priority order of “Replacement”

Step 3: One person may never be enough

Step 4: Build Measurement Matrix

Step 5: Engineer your Company to be scalable

Step 1: Get clear about what “Substance” do you provide in the business

Contribution….GROSS Vs. SUBTLE … be fair!

Manager - InspirationManager - Fire fighting Manager - Prospect Charming/ BondingManager - Neutralizing Potential AttritionManager - Demonstrating CredibilityManager - Bonding with key team members

Manager - of whatever needs managing right now !Manager - Managing Everything..

CEOVice President of (BD)Manager - Finance, Manager - Legal, Head of PMO, Manager - Corp Communication Manager – Recruitments & Appraisals Manager - Administration

Contd.

Beware of two myths :

“I am the CEO Myth”

“Professional CEO Myth”

Step 2: Build a priority order of replacement

There will 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/TECHNOLOGY eg: 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

People And Execution Strategy

Leadership and Governance Strategy

Business Acquisition Strategy

Financial & OpsStrategy

Vision and Will

Order and Structure

You …Soul of the Company

“ENABLERS”

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!