The SENIC business reaches a stage when it plays a not insignificant part in the market. Competitors start taking note. The credit for this desirable but precarious state of affairs is attributed to the entrepreneur. The organisation has to change and the players have to adapt. It is at this moment that dreaming and talking of ?the good old days?, working harder all the time, adding more and more bodies without structure, not saying ?no? to customers, seeking advice from professionals who have not managed anything themselves, will not help. What is required is to look realistically at what the business is; work smarter, not harder; add structure before more bodies; say ?no? to customers and seek management advice from successful managers.
The author lists the common failures of SENIC businesses which revolve around inadequate management, lack of customer definition, bad planning in general and cash flow planning in particular. What is wrong is that all these shortcomings are coated by a powerful layer of ?entrepreneurial ego?. Business houses initially tend to recruit friends and acquaintances, who later become a liability or the wrong DNA or management core for future development of the business.
The execution of any strategy for taking a business beyond SENIC phase requires great attention to detail and continuous focus on how to deal with the main functional points as and when they occur.
This book is subject-specific and will be of use to prospective and practicing entrepreneurs.
(Macmillan India Ltd, 2/10 Ansari Road, Daryaganj, New Delhi-110002.)