A Message to Entrepreneurs on Resource Management

 

I remember attending the interview for Chowgule Industries Limited. And the all India Sales Manager, I didn’t share a relationship with him. But I think I learned a very valuable lesson on recruitment and team development. Ramasubramanian, he was the all India Marketing Manager, he finished the entire interview asked me what is the salary you expect and after everything was completed, he said, we actually don’t have a budget to pay so much for this profile.

But I think budgets can be reworked, good people should not be lost. Resources can be reworked. Opportunities should not be missed. It can be people. It can be technology. It can be a tie-up. It can be taking a new dealership, a distributorship. It could be with a space. It could be with anything. Resources can be re-managed, re-worked, re-engineered, but opportunity should not be missed. Because that does not present itself tomorrow.

Chances are a lot of us sitting here can exactly understand what “Warren Buffett” says when he says, “The greatest mistakes that all of us commit in life are opportunities missed”. It’s not about right and wrong. And I’m sure there is not a person sitting here, who can look back and say, that time for want of another two lakhs, I did not go ahead. If only I had gone ahead, that time somehow, I didn’t have the mentality. It’s okay to pay a few bucks extra and hire the right resources. I missed. He actually wanted to work for us, but we missed, but he became the major strength of the competition as a result.

Infact, that distribution came to me only. By at that stage, I said, I don’t have the space. I could have created the space and created the theme. I should have taken that distributorship. Today to see the way those distributors of that product and that product line in that industry are doing, I think it’s an opportunity missed. The number of times for want of managing and re-managing, and re-coordinating, and re-arranging our resources, the number of opportunities that we let go and look back and realize what we missed.

And I think that was the biggest lesson. Though it happened in a very short time. The statements that he made, we don’t have a budget for somebody like you at this salary, but I think budgets can be reworked. I don’t want to miss out on you. And it was a very big learning for want of resource management do not let go of opportunities.

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