BizBites by Ethique Advisory

A recent survey showed that 71% of businesses still feel that their leaders aren’t ready to guide the company into the future. It is an alarming statistic, given the role effective leaders play in developing an organization’s culture and growth. It is causing many leaders to re-evaluate their current methods to become more effective. But what traits do effective leaders possess that separate them from the rest?  And how can you be an effective leader?   Who is a Leader?  Leaders exude influence over peers and subordinates, enthusing them to achieve a company or a team goal and work cohesively as a team. Regardless of the title, leadership is a mindset in action. Leadership is not a mantle to be handed out. Leaders earn their position because of their competency to inspire those around them, focus on the organization’s objectives and work to maximize the firm’s value.  Who are Effective Leaders?  From Steve Jobs to Jeff Bezos, effective leaders empower their...

  Is this the right decision to make? How often have you encountered this dilemma professionally or on a personal level? We all want to make the right decision. Entrepreneurs are no different. Here are some guidelines to prevent entrepreneurs from erring in making sound decisions Base your choices on your values:  Every successful business has a set of values that serve as a framework for employees to make decisions. Decide based on options consistent with your company's value sets. This helps narrow down the possibilities. Consult an expert -  An "expert" is the appropriate individual with knowledge and domain expertise.  Best Business coach in India  and industry experts make for an excellent option. One should explore both in-person advice and Research. Mind Mapping  - A visual method of organizing concepts and data is mind mapping. A mind map, which is a graph illustrating a major issue branching out to subtopics that elaborate on the central subject—in...

power of coaching In the past, Executives and Senior leaders generally preferred telling their employees how the business works to reproduce previous successes. The approach worked well in the past, but today, in a world filled with rapid disruptive changes, it no longer guarantees future success.  Twenty-first-century managers need to transition to using the power of coaching to lend support and guidance rather than issue instructions. They must learn to be nimble and adapt to constantly changing environments to unleash employees’ energy, innovation, and commitment through curiosity and a new perspective. In other words, leaders need to employ a coaching approach in their everyday job by asking questions rather than doing the telling. Different Managerial Styles In a recent study, 3,761 executives were asked to assess their own managerial and coaching skills and their direct reports were asked to evaluate them on the same skills. The results found that 24% of executives sign...

Let’s take a fresh look at the two functions and their roles in an organization. Marketing: The go-to-market strategy decider. A company creates products or services to fulfill demand(s). The end consumer will know of it only once availability is communicated and how it addresses a specific need – implicit or explicit.  Business Development (BD) is the team that front-ends the Customer. They bring in ideas for new products, competitor intelligence, and needs in the market that the organization may be well equipped to address with new and unique products or services. They are the face of the company.  The two teams need to work in unison to amplify the messaging and for consumers to see the offering in the right light. It is critical for creating the personality of the offering in question- the positioning, needs it addresses, whom it’s meant for and what sets it apart from the rest. The BD team knows the Customer better, and the marketing Team knows the messaging better. The t...

Running a specialized business offers you a niche in the market. The very nature of business requires you to identify your Unique Selling Proposition (USP) and focus all your communication efforts on the USP, giving you high visibility among your target audience. Like all good things, it comes with its share of highs and lows. Some of the challenges rear their head in terms of the need for expansion, product or service diversification, competition, etc. Unlike a business offering a traditional range of products/services, this can pose many constraints and complexities in the case of a specialized product or service company. To consistently achieve long-term growth, offering products/services that evolve with time to stay relevant is the goal for every company. Why should you be different? Without growth, there are no opportunities for staff to grow and develop and less reason for talent to stick around, seriously impacting retention. So, let’s take a minute to understand the possible h...