NASSCOM EMERGE Community Catalyst for Growth of Emerging & Start-Up companies

Dear Avinash,

You have raised a very critical issue related to success of young and smart IT SME owners who wait and wait for SUCCESS, with great satisfaction at every stage of transformation to being called a SUCCESSFUL and GROWING CO. But still many find themselves waiting and waiting. That has not been easy for many.

But PEOPLE LIVE BY HOPES and ACT BY FEARS. Let me attempt to address first point. Rest I will do in coming days....

• Are advisors really useful in today's scenario?

Business calls for clarity and grasp of wide variety of contradictions and variable which keep on changing with time. Judgment is often called for with accuracy and to the point. Often people use own judgment, which is primarily based on their awareness, experience, expertise. When we face a unique situation, we use our HUNCH or GUT FEEL.  

To ensure not miss a ONE and ONLY ONE CHANCE scenario, people either check out OWN GUTS, or OWN MIND or pray GOD or seek counsel from others whom they trust as wise and doable.  

Following own ideas or judgment is good, if you are 100% sure. But good business minded people who want SUCCESS at FIRST OPPORTUNITY itself, instead of trials, often check out with others. If to admit your son to a school, or finalize a spouse or marriage venue or party menu or buy a flat, each requires variety of decision making vis-à-vis risk mitigation. And cross checking or consultation is most popular way. Getting used to checking out with same set of friends is very common. 

 With business and work life scenarios moving too fast with contradictions, chaos and disruption mainly due to either eco system or too many actors in the episode being un- dependable, we get into DOUBT MODE and deserve a cross check.

 That is where second opinion need emerges. Even Arjun had to undergo 18 classes amidst battle field and despite that he was arguing and vacillating. Just because of deep love shown by Arjuna, God was forced to give Divya Dhrishti and Darshan and show VISHWA SWARUPA resulting in a surrender by Arjuna, who then followed the dharma.  More in next postings .... 

@Rajendra V B Raja : Just loved your insights :).

Why aren't younger companies seeking out advisors and mentors? What are their fears and concerns?

From my first failed startup experience - Most of the times, the first time entrepreneurs think they are doing very basic things and might not need some expert advice since they are doing things at smaller scale and prefer to go by their awareness & expertise while bootstrapping the company - also the Ego of I can do it. There is lack of focus on building solid ground work for their business and this is where mentors play their role.

Another major reason is the "Idea Phobia"  - thinking that the concept/idea they are working on or bootstrapping is unique and needs protection until they become visible/well know in market segment to get mentors & bounce off their ideas or plans.

Also the fear of approaching people when you have nothing out there (in terms of concrete product/service) to show them - this is where startup ecosystems need to play a role to connect wannabe/first time entrepreneurs with mentors/advisors ecosystem.

 

Our approach to mentorship, and our attitudes towards mentors is what determines our perspective on mentorship. If mentorship was seen as a process, rather than an event, that is an integral part of the fabric of our learning enterprise, we would be less prone to the anxieties associated with seeking counsel of advisors. Seeking advice is not a process of impressing the mentor / advisor, rather it is an exercise in learning from the experiences of those who have been there before us. Though there is one opportunity to create a first impression, there are many opportunities to create a lasting one.

There are many who would readily share their experiences, proffer suggestions, help network, open doors and provide support if only approached with the passion of entrepreneurship, mutual respect, and a degree of preparation that demonstrates a respect for the advisors' time. What we should expect in return from the mentors, then, would be honest advice, unadulterated by convenience and self-interest, and a fair degree of committment to this initiative.

  Point wise comments

 Without advice, Indians do not get married, do not finalize a spouse, do not buy a house, or accept appointment letters from employers.

 For business that too in IT business, more so for a start up or emerging phase, one can not survive without advice, second opinion or third opinion, however brilliant or clever we may be.  Current IT business scenario is never short of contradictions, multiple possibilities, multiple ideas from same boss or peers or team mates. As long as we need advice, we need advisors.  

So usefulness is not an issue. See the growing boarders on our collective X. About 2000 members, of which at least 200 read the threads (as I assume). About 20 do regular posting and rest are too busy......

With business and work life scenarios moving too fast with contradictions, chaos and disruption mainly due to many actors in the episode being un- dependable, we get into DOUBT MODE and deserve a cross check. 

 • Why aren't younger companies seeking out advisors and mentors? What are their fears and concerns? 

Often people have invested their money or career in starting a new venture or joining a MSME against the general advice of their trusted friends or family members.  (Please do Challenge me). That induces them to lie low and nurture their enterprise or business in silence.  

During honeymoon period, say 1-2 years of start up, obviously they do not have fears. After that it all depends on whose purse is being burnt. How much heat is there on the back? How much is the Fire in the Belly.  

Other reasons are DISCONNECT between Investors (Fund Controllers) and CXOs operating the SMEs. Both balance each other. Each has their own set of advisors/ mentors. Organization goes on till one party wakes up. Till then average activity based business (whatever comes along) is found good enough. More is welcome, but nothing to loose sleep about. Many SMEs with 10 years or more survive with 10-15% annual growth and everyone is happy. Employees may be searching for answers, but not management, as they have no fears.  It is this class of Cos, who will depute employees for seminars and networking but have no time to debrief or take points seriously. Many are funded by passionate relatives or sponsors, who have good reasons to retain status quo.

So younger SMEs have maturity as the challenge and older SME cos. know enough. I am seeing the day, when people/ cos. from China and Brazil will read Nasscom platform and participate actively more than us. ( wait for those days).

  • Are there really advisors and mentors out there? Where to find them? What kind of mentors should companies be looking for? How many?

Possibly the question should be -Where are the MENTEES? Are they open to learning? Who actually takes advantage of wisdom available in the market and social world?    

Nasscom EMERGE FORUM Collective X is probably a classical mentoring and view sharing platform. With blogs etc, it is indeed a multi million dollar value offering. ( do challenge me!). 

So many value advices are given every day by so many members. When you feel mentored with clear and crisp advice, you find mentors. Mentor is not a label or designation.  I have myself learnt a lot.  

Plenty are seen on this forum platform. But people must find time to read through and understand the context of the thread. Whole thread must be read with continuity to get the deeper grasp. ( new gen  these days are impatient with reading long material as everyone wants googleanswers/in SMS /twitter format).

May be Nasscom should publicize it with better effectivness. Arranging an event is not enough. I have regularly  advised event anchors at Nasscom Chennai event to always announce this platform during introduction session as well winding up session. I know it looks trivial but the VALUE is lost.  

Next category of advisors/mentors are speakers with themes at Nasscom Friday breakfast meetings as well as other special lectures. So many 24 carat points are presented.  

Tragedy often seen are that key top level CXOs are missing as they like to depute second or third level executives who either do not have grasp and depth or do not have reach to tell bosses back at office.  This is the worst situation. Having a CEO Forum can not resolve such issues.  

Maybe Nasscom has failed in attracting ‘enough' top managers or Thought Leaders or CXOs for Nasscom meets. 2^nd level or HR level people can not influence the Co Management thinking, especially in SMEs.   (refer Ganesh Challa's thoughts and analysis/ research - he was Nasscom Chennai speaker at Hotel Savera  a year ago or so).   

What you require is LEADERSHIP from Investors or CXOs to appreciate the Value offered by Nasscom and Nasscom platform. Many  CXOs do not have time to read discussion threads or post even 2-3 sentences. Of course they are all busy with same market woes. But that is their CHOICE. It is their JUDGEMENT. Maybe Nasscom should do better in its marketing and planning.  

 What kind of Mentors- It seems to be a MYTH, that mentors are those who have been chairman or CEO of biggies in India or overseas. Or that he must be a VC or PE person, with tons of cash to gift away.  May be Nasscom too has added to such myths.

 How many- it is risky to confuse oneself with too many mentors or coaches/friends. Do not switch over just because suggestions or ideas given are unpleasant or not so simple to follow. Many Mentees switch over Mentors for sheer guilt/shame that they failed miserably by sheer carelessness/ignoring previous ideas rendered or agreed. Or they were half hearted in following ideas.  

I know few IT SME directors/owners who keep on repeating their sorrows in every Nasscom meet , but have no time later. They continue same plight, with blaming their staff or clients or partners, but have never found time post Nasscom meets to get resolution or settle themselves.  Apparently expecting a tablet which can dissolve all their challenges in one go, or a silver bullet.  

• What kind of arrangement should one strike with the advisor/mentor?

Left to the maturity of seeker.  Arjuna, despite being a Master of Champions in wars and battles, with most powerful weapons, had to undergo 18 classes on the battlefield to get into senses. At least he asked and bothered Krishna with his dilemma.  

Therefore it is "Left to the honest and dedicated URGE".   

It is exactly like developing a relationship with your stock market or broker or financial advisor or your auditor. Like or not, we know we are compelled to go to same person at his convenience, at his fancy when we realize that we should have taken the advice given more seriously and promptly. But ignoring Mentors is at your RISK, personally as well as professionally.  

Good advice is always free, if seeker has MATURITY TO SMELL and TAKE ADVANTAGE OF. Huge consulting fees are also known to be a trigger for compliance, as taught by MNCs and Wall Street. If that is important, by all means seeker must pay. Do pay, if you think that strengthens to relationship and gives a better meaning. Or get them on your co Board.  

Question is how serious is the MENTEE and How impatient is the MENTEE to set things right. Purely depends on shrewdness and business mind of the Mentee.  

(We all know how many crores Ramalinga Raju paid to the non executive directors -Harvard Professors and ISB Dean etc. to get advice on strategy. That made Satyam a great tech co with great delivery record as well as client list. It is a different matter he got extra mentoring from that great accountancy co PWC.) But it was all mentoring.. 

• What kind of a relationship should exist?  

Spontaneous advice or mentoring is one way. But continuity is critical as mentoring is a process, which has to be carried on, under storm or good weather. It can not be a percentage commission business.  

Therefore some seekers enjoy sharing their sorrow. Some listen and vanish. Some take advantage of and benefit.  

Such mentoring is of max value only when Owners or Investors or CEOs attend mentoring session themselves or read/share themselves extensively. They must be involved personally with time and efforts as their cost. Delegating is most frequent spoiler.

I know one friend cum Mentee, (based on Nasscom postings/sharing )  phoned me to assure me that now he has decided to spend time with one MD in his city every day, come what may, irrepsective of industry /business vertical including those who have installed IT solutions from his competitor.  So he meets 20 MDs every month irrespective of business oportunity or not. That was a great takeaway. ( Cos bosses must spend time with their market players- prospects, industry leaders, Industry domain experts, cos where their competitors have great jobs done, partners etc, rather than endless review meetings in the conference rooms. )

Another Boss mentioned to me that he has asked all his HODs ( sales/ projects/unit heads etc ) to be on business tour outside their offices 14 days every month. It does not matter what purpose they travel, but they can not be in own offices for 14 business days. Automatically meetings came down, freeing time and pressure on other levels to focus on delivery rather than preparing for meetings, PPT and minutes and circulation etc.  

Last time at Nasscom Conclave in Chennai , one of the well known discussion forum contributor ( another boss and a great Mentor for us all) mentioned that he spends business time partly in US and partly in India. But he had never spoken a word to his delivery team back in India so far on tech or business issues, while he dribks beer with his team when he is in India.  He documents his requirements based on client interaction in USA, sends them to his team in India who turnaround and deliver exactly what is stated in the docs. He highlighted it works so perfectly that he enjoys traveling and spending time with his clients/prospects and idea thinkers with no compromise and fears. He had no difficulty at all with his back office in India.

Examples are many.

Where are the MENTEES in India, except few here and there. Is Nasscom mentoring biggies so much that we BPL ( Below Poverty Line) are now remembering it. Where are the encouraging words or visbility of all the Gods in heaven for MSMES community ( where are the postings from Chairman or President etc of Nasscom and management commitees etc ).  Hey Kaanha, show me the way....why are you all silent..why not a single post..( same way as PARTHA Arjuna asked for).

Nasscom should take it as their institutional goal to bring into its fold so many of untouched Micro SMEs in streets and car sheds around the country by MENTORING them....

Mentoring to IT MSME community deserves something more. Emerge Forum is indeed a great platform, but more effective leveraging is needed to extract better yield..

Raja:

Just amazing. Looks like a complete FAQ on mentoring. My observation is that one choose his/her mentor based on observation and within their circle rather completely an unknown person. Am not judging whether this is right or wrong. It is the reality in my opinion.

We have interacted so many times through this platform and much more face to face interaction as well. I feel that your points are very much valid, sensible and great expression of your own experience.

Very few people fall under this category of emotional & experiential knowledge sharing.

1. Everyone cannot be mentors. There are very few with that genetic structure. Everyone cannot fit into the community driven model (many to many mentoring).

2. Mentoring is time consuming. Until we fully understand the context of those who seek advice, the mentors cannot guide them.

3. Mentoring is not about generic advise but it is about specific guidance to lead the advice seekers in the right direction.

This is a very relevant topic in the context of a lot of entrepreneurs who're either starting out, or beginning to scale. 

I'd actually encourage thinking of an advisor/mentor as bringing in someone with either a specialized knowledge, or experience, coupled with an unbiased strategic perspective. It can be looked at as a point solution provided by someone who can help with a specific problem, or actionable insight. It does not have to come from a big-brand name (though sometimes those do indicate a lot of experience and expertise). Of course, getting an advisor or a mentor on-board should not be used as a proxy for thinking through issues oneself :) However, if one looks at (esp) a (technology) business pragmatically, it would be smart to get help for specific aspects, not necessarily the entire business itself.

While sometimes just a sounding board that helps organize one's thoughts better helps - its usually a better idea for smaller startups to look for precise advice and help which is actionable, and leads to clearer execution with a more measurable impact.