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Shayan  Sengupta

How to manage multiple companies simultaneously

How to manage multiple companies simultaneously

 

You will be surprised to know that Carlos Ghosn, the chief executive of Nissan and Renault travels over 300,000 miles every year to manage his companies. He has such hectic schedule that he has to preschedule in 15 months’ advance. Richard Branson, the founder of famous Virgin Records has overseen over 400 ventures in his entire entrepreneurial career.

 

Only this level of dedication can ensure the success of a company. However, this level of multitasking is very hard to maintain properly. The best example would be Steve Jobs who had to face immense pressure when he had to simultaneously manage Apple and Pixar. He even claimed that it was his worst time. Elon Musk, the chief executive of SpaceX and Tesla has faced lack of freedom. In fact, he has only taken 2 weeks off in the last 12 years. Dedication and consistency was their key to success. Here are some important approaches to manage multiple companies simultaneously.

 

1.        Give your team a long leash

 

Managing multiple companies in various countries manually is almost impossible. You have to divide your work force to manage the decisions locally to achieve success. For this reason, you must hire the right people who will lead various operations in your companies at a local level. Meanwhile you can concentrate on larger strategic decisions.  The general managers at the local firms will manage the product and customer service experience. On the other hand, you can focus on pricing strategy, growth and innovation. 

 

2.        Build a seamless horizontal team

 

Now that you have hired the right people to manage various companies. Next step is to improve collaboration and share resources among your team. For this you need to hire the ace executives from various businesses to create horizontal teams. This will ensure streamlined workflow and reduced operation costs. It will also provide the individual businesses competitive edge and support.

 

3.        Share resources across your businesses

 

Implementing knowledge from one business to another can dramatically reduce the learning curve. This generally helps to grow in very competitive environment. You also create a pool of resources if you have businesses in similar sectors. As buying raw materials in group keeps the cost down well.  While sharing the R&D technology enhances the efficiency across your products. Disney is the best example for this. Disney is able to manufacture toys from their movies.

 

4.        Visit the companies in real time not through video calls

 

It is true that video calling has made communication easier. Video calling has narrowed the communication gap between two places by saving time. However, face to face interaction has its own importance. It is very crucial to visit each business to understand their own unique ecosystems. You must have the knowledge about the office culture, dynamics among the executives, rules of a business. None of this is possible without physically visiting the place on your own. It doesn’t matter how much time you spend on conference calls. Physical presence and interaction has no other substitute.

 

5.        Give priority to your time

 

Time management isn’t simple if you are planning to maintain multiple businesses together. For this reason, prioritizing your tasks is very important to manage your businesses. You can hire a personal assistant who can manage and schedule your tasks. This gives complete track your work flow easily.  

 

 

 

Hansika Mata

Why entrepreneurship programs are gaining importance?

Why entrepreneurship programs are gaining importance?

Entrepreneurial ventures create more employment opportunities and generate wealth because of which these are considered as national assets for any country worldwide. Entrepreneurs fuel Social Change and promote Innovation. There are various courses and programs available to support the people taking a leap towards entrepreneurship. The reason why these programs are gaining importance is because of more and more people realising the value of entrepreneurship. The statistics show that 2 out of 3 people worldwide consider Entrepreneurship as a good career choice. With such high demand these entrepreneurship programs are in high demand now. The main focus is to help the budding entrepreneurs to develop their thought process in a productive and a problem solving way.

“Don’t tell people about your dreams, Show them”- Anon

REASONS WHY YOU SHOULD CONSIDER DOING AN ENTREPRENEURSHIP PROGRAM:

1. Develop creative thinking and idea generation techniques
Creativity is the essence of Entrepreneurship. In the world of entrepreneurship, creative thinking and innovation are the basic pillars that ensure long term survival of the business. These programs help you develop the ability to brainstorm ideas and evaluate them. Studies have shown significant impact on a student after taking a valuable entrepreneurship program. These programs help boost the entrepreneur’s ability to solve a problem.

2. Overcoming the barriers of Innovation
Studies show that 80-90% of the companies believe that their long term survival depends on Innovation. Hence, Innovation has become an inseparable part of most of the business organisations. But, innovating new things is not a cake walk. A person needs to learn how to avoid repeating what others have already suggested a million times while thinking of something innovative . Organisations also face barriers related to Innovation such as lack of funding, analyzing data, prioritising innovation, willingness etc. These programs give you an insight of all these barriers and help you face them with the power of creativity. It trains you in a way so that you are able to manage your existing workload along with Innovation.

3. Evaluating Feasibility of Ideas
Before a person starts to invest his valuable resources, time and energy in the quest of having his innovation reach the world, it’s important to take some important steps to determine whether the idea is commercially and socially feasible or not. Evaluation is an important aspect that can save you a lot of money and energy. These programs help you to evaluate your entrepreneurial ideas in a way that you can see the future developments more clearly.

4. Skills to attract investors
Funds are the blood flow of any organisation without which a Company can’t operate for long, no matter how good the business strategy or the product is. There are certain skills an entrepreneur should possess in order to attract investors. He must have a sensible approach and should be able to build a picture of the future in the investor’s mind. There are many other skills required to make the most of such opportunities. A person must have a clear picture in his own mind only then he will be able to convey the plan to the investor. As Steve Jobs has rightly said, Over night success stories take a really long time…. Similarly, In order to crack the deal an entrepreneur must develop his skills first.


and the list goes on..

Entrepreneurship gives the best result when started at an early age. It’s easier to adapt and learn new skills when we’re younger. These Entrepreneurship programs not only help the existing entrepreneurs but are also available for the young minds to help them develop further. Zenith Innovator Program is one such program focused on developing Innovation Skills into minds of budding entrepreneurs. These programs provide you with the right kind of environment and help you channelize your energy in the right way to help you to stay a step ahead of others.

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