November 10, 2012

"Attach & Detach"

Anil Gupta, Joint MD of Havells India, in Business Today
You need to attach yourself to certain things to go deeper, develop a passion and get work done. But you need to get detached after achieving certain milestones. If you remain attached to a certain thing, you cannot professionalise and grow it. Detachment makes it easier to professionalise and monitor the work from a distance.
...My father repeated this advice when Havells went through a tough time during the global economic crisis in 2008 and 2009. When we acquired Sylvania (in November 2007) we were very detached from the business for the first one-and-a-half years and we let the existing management team to run the company. But when Sylvania fell deeper into the red, the management team of Havells got fully involved. For one year there was close coordination between Sylvania and Havells. Sylvania became profitable (in 2011/12) and now we again run it from a distance.
The advice has helped me balance my work and personal life as well. We have put professional systems in place, so I don't need to rack my brains 24 hours a day and work 16 hours a day. This has helped me in growing the business and leading my life far more comfortably.

Arun Natarajan is the Founder & CEO of Venture Intelligence, the leading provider of data and analysis on private company transactions, valuations and financials in India. Click Here to learn about Venture Intelligence products that help entrepreneurs Reach Out to Investors, Research Competition, Learn from Experienced Entrepreneurs and Interact with Peers. Includes the Free Deal Digest Weekly Newsletter: India's First & Most Exhaustive Transactions Newsletter.