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One of the single biggest challenges for an entrepreneur is to be organized. Entrepreneur are generally a passionate breed, feeding on high energy levels, positive thinking and hard work. They are seldom well organized and disciplined. Unfortunately, being organized has no substitute. Two key areas where total discipline is required are:
- Operations Review
- People Review
Operations review must contain weekly & at least one month forward review of sales, receivables, cash flow, project status, customer satisfactions & business outlook. People review must contain review of key managers, motivation level of employees and key relationships within the organization. Entrepreneurs generally feel reviews are a waste of time and that energy can well be put in operations. This is a myth. Crisp & focused reviews bring down execution time considerably. Reviews are like compass of the business ship, without it one would not know its direction.
In ILANTUS ever since I brought in a process of daily & weekly reviews, breakthroughs have become easier and more frequent.
