Anand Mahindra’s Sanjivani solution for cos – think like a startup and do a Marie Kondo style clean up of portfolio
- Business tycoon Anand Mahindra has a potion for success in the post lockdown period – what he calls “Sanjivani solutions”.
- The chairman of the Mahindra group believes now is the time for companies to have a startup mindset.
- He also said that companies should be raising funds now.
AdvertisementWhile with Unlock 1.0, offices, shopping malls, restaurants have reopened across India, their way of functioning is not the same anymore. With safety as the first priority, businesses now have to work to make up for the nearly three months of lost revenue and profit.
And business tycoon Anand Mahindra has a potion for success in the post lockdown period – what he calls “Sanjivani solutions”.
Sanjeevani is called as the life-giving herb, with reference to the Ramayana, where Lord Hanuman is known to have carried an entire mountain in his palm to ensure that the life-giving Sanjivani herb is administered on time to the injured Lakshmana.
Work the startup way
The chairman of the Mahindra group shared three tips to work like a startup
|a) become as lean an organization as possible|
|b) Nothing is sacred; all business models open for debate. Create ‘feedback loops’ that constantly test product/market assumptions|
|c) Share ideas & data across the company at warp speed.|
Infosys co-founder Kris Gopalakrishnan too believes that the startup way of working will be the new norm now. In an interaction with Sudhir Sethi of Chiratae Ventures, Gopalakrishnan said ““In my discussions with the government officials, they said startups responded faster (during the coronavirus pandemic) than established companies because they had less bureaucracy and less worries about you know, what impact it would have on the business etc.”
Bring out the Marie Kondo in you
But not just that, Mahindra said businesses should adopt a “Marie Kondo style clean up of their portfolio and bid goodbye to those initiatives which don’t fall into your narrative of a successful future.”
Marie Kondo is a Japanese consultant who specializes in organizing and is a ‘tidying expert”. She also has her own Netflix show “Tidying up with Marie Kondo”.
AdvertisementMeanwhile, Mahindra’s last advice to businesses also included a warning that this is going to be a long haul. Mahindra said, “Raise sufficient capital for the journey of evolution. It’s not a short trip.”
And Mahindra is not alone in this. Billionaire banker Uday Kotak too in a recent interview advised companies to go out and raise capital. “Having a stronger capital base and navigating your boat well through the storm for opportunity on the other side is the key to the future. Therefore, my strong advice to my fellow colleagues in corporate India, including in banks and NBFCs, is the markets are giving you an opportunity; so go out and raise your capital and do not nickel-and-dime on the price,” said Kotak.
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