Today i met a person wo failed to sustain his company which he established, banking upon his knowledge base and intellectual thinking.. This man, as an industry fresher started off his career with an IT company. He acquired a lot of technical and industry knowledge and one day..he push open his wings to start-up his own company...having a view in mind that someday he will compete with hsi first employer.
Soon, he became they...his company grew to a size of 327 and the Start-up was going well and was even recognized as one of the fastest growing ones by Outlook in 2007. Clients were comming in and they also started getting overseas orders. Soon, their office moved from a 1BHK flat to one of the most expensive commercial address in Gurgaon. Nation felt their presence in many cities and they were growing at a unexpected faster pace.
The sucess mantra was- Target the needy and keep the cost price low.
Everything was going their way but suddenly the global financal crices started to pick up pace. During this period also they were doing good untill a cold wawe of Gobal IT majors like TCS, Infosys, etc, started creating holes in pockets of small players like these.. WHY??? The have sensed that to survive in this phase, we have to expan our reach and they did the same.
This person was very annoyed about all this and started thinking what actions to take...Soon all of his clients were swollen by these BIG fishes. The company's headcount started decreasing exponentially. And ultimately, his child(the company) was dead. He sold its body to pay up the debts and...now what to do...Earth is round..back to pavallion. Now he was back to that Big IT conglomerate as an employee with with he started hi career.
Well, I was totally inbefuddling state taking on what would have went wrong with this man. Afterall he is a togh guy..he's a hardworking man, he could have saved his business.
The anatomy is here:-
-> His business was limited, it was not diversified. They only catred to Financial Services.Have they updated their client wishlist according to the market trends, they would have been on a different podium.
-> They lack quick action. - They must have reached an other organization for a probable merger or so.. At least they could have retained their brand name.
Had they put their feet in different waters, their's have been a different story. Change is the mother of all happenings and just one change put them a deadly whirlpool. Had they changed themselves to the trend, that happening would be in their favour. As someone said:- "Experience is like a Comb, which nature gives you when you are bald".