“20 Winning mantras for Sustained Competitiveness, Profitability & Growth for Starts-ups and budding Entrepreneurs”
CA Pramod Jain
Independent Director I Valuation Professional I Financial Strategist I CharteredAccountant I IndAS/IFRS/ Corporate Governance Specialist I Insolvency Professional I Author of Bestsellers I Social Auditor & Business Coach
(Extract from my book, "Finance For Value Creation")
1. Have a desire and an urge to make positive difference in others’ life.
2. Purpose of the business is to create value, making profit is non-negotiable. Value addition and Value Creation are the two pillars of sustained growth & prosperity.
3. Lifeline (Oxygen) of any business is Cash, the one which comes from the operations of the Business.
4. Take decision, this way or that way, sitting on the fence is wasteful & expensive.
5. Someone who says, planning does not work, only confirms that he does not know, what planning means.
6. Keep happy people around and keep people around you happy. People give their best only when they are happy.
7. Build a team from the beginning and delegate. Do not try to do everything by yourself because no one can.
8. Hire the best, pay the best to get the best.
9. Do not over worry about expenses. Instead focus on improved income. There is a limit to cut your expenses but there is no limit to increase your income.
10. Build a Culture of cost consciousness. Cost consciousness is everyone’s responsibility.
11. Differentiate between price, value & cost. Cost is reality, Price is Policy whereas Value is just a perception.
12. Remember, if you don't appreciate, then you depreciate.
13. Don’t look at every expense as expense. Some of them in actual, are investments.
14. Take loss with same joy as profit. But work for profit only.
15. Value of money is linked with what you use it for, use it only to create more value.
16. Sometimes, cost of doing something is far too less than the cost of not doing it. So act and do it.
17. Grow and let others grow too, all your stakeholders. No one takes anything from here.
18. Everyone needs to take responsibility of his / her function without any expectation, so you do.
19. Undoubtedly, long term is better than the short term. But don’t spoil your today for the so called better tomorrow. Take good care of your body and mind as these are the two resources that will make things happen for you.
20. Build Goodwill even if it costs a little extra, because this is an engine you will need to create an organisation which go beyond your lifetime.
With warm regards,
CA Pramod Jain
Chartered Accountant, Insolvency, Professional, Valuation Professional & Independent Director
“Mission - Financial Literacy for a Billion”
"Leaders only do right things and in right way".
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Vice President & Head Automotive Industry Platform Capgemini. INSEAD Alum, Thought Leadership, Shaping Automotive Industry, Digital Transformation - Connected Cars, Industry 4.0/5.0,Customer Experience. Speaker, Mentor
4 年True nuggets of wisdom distilled through a body of life time work
Transformar vidas com nossa energia!
4 年I really love all these quotes! Specially this one that I had never heard before: “Do not over worry about expenses. Instead focus on improved income. There is a limit to cut your expenses but there is no limit to increase your income.” Great to hear from you!