Monkey Mind is a Buddhist term which means “being unsettled”, “being restless”, “being inconsistent”, “being confused”, “being indecisive”, “being uncontrollable”…..These terms are so relatable to all the entrepreneurs from the all era’s. So the question that arises is what causes the monkey mind?
Every human alive on this planet is accompanied by Ego – knowingly or unknowingly. This ego is like a chatter box in your mind, whose noise is enormous, and it becomes impossible to stay focused and most importantly does not let you stay in present. In- fact, it carries human’s to tree-tops with ambitious frame of mind without a reality check. Since humans have capacity of thinking we give attention to many things at once and focus on things which are yet to do instead of what we are currently doing; this entices the monkey within us to jump from one tree to another to eat all the fruits during its chase. So question that should arise is – should we just tame the monkey in our mind? If yes, then how?
So let’s understand the fundamentals first – What is ego made up of?
General Assumption that we have about ego is excessive pride. But in real sense; ego is split in five sections (as shown above) which needs to be understood properly and then regulated in order to tame the monkey within you or to calm your mind to one thing which would propel you for a better and un-complicated life which is pivotal for any entrepreneur.
Ego is developed over the years with multiple experiences and diversified interactions with multiple humans which eventually excites the monkey within you to try something new. Within your entrepreneurial circle, I am sure you might have heard entrepreneurs claiming that “My Trading business is doing good, and we are touching 125 Crore every year. So now I am thinking to DIVERSIFY into Construction Business”. You might also have heard “My current set-up is not doing that great, I am thinking to vertically integrate my manufacturing business by providing logistics to my customers by buying and managing our own fleet of trucks, this might help me save a buck which will eventually add up in my bottom-line”. These statements are nothing but a monkey mind chasing multiple trees to eat the fruits he THINKS is delicious than his current tree.
As an entrepreneur there will be multiple opportunities to chase down an unknown territory with stories that our mind is telling us which is forcing us to see in that direction but unknowingly disturbing the current focus which is your current business in which you have invested years of hard-work and energy to get it to a position which it is in today. So why not sustain that focus, in-fact sharpen our focus (that also means to tame the ego elements) to yield best value within our current business.
Does that mean we should not jump tree? In Brief to explain; diversification or expansion of the business as the entrepreneurial circle says, should be done keeping in mind Panch-Tatva of your business which are as mentioned below –
Expansion or Diversification should be done if above mentioned elements of your current organization are not changing or are not getting modified/altered.
So in order to instill calmness within you as an entrepreneur:
- Awareness is first step to success – Be aware of your Ego elements and their power on you!
- Regulate your ego elements
- Define your business playground – Your Tej Chakra (Business Model)
- Study and Understand your Strengths in the Business and make them stronger than ever
- Monitor your Business strength with data and search for weakness which would become your strength in future by working on them.
You cannot fight your ego, nor can you force ego into submission mode; rather let’s tame the ego and live with it as your best companion forever.
Believer Industry: Land Plotting Industry
Association with TransGanization: Since 2014
- Gyan Journey Initiation
- Thoughts to expand the business from pure plotting business to construction business
- Continuous debate on expansion
- Gyan Journey Completed
- Thoughts to expand business into Construction sub-sided
- Prayog Journey Initiated
- Identified current business strengths (improve regional strength) and prepared plan to build on it
- Business grew multi-fold, Projects as planned to increase strength and vigour in the Organization.
2016 & 2017
- Demonetization: Industry was badly hit. Took Opportunity to streamline the Organization and Payment structures.
- RERA: Confusion on Law halted business growth for months
- GST: Another road block to tackle as industry was unaware on taxation rules on land
- Realized with intervention of TransGanization that only Process Oriented and Streamlined Organizations to Thrive
- Rebranding initiated
- New Projects were initiated
- Process Flowcharts prepared and Neural Network Finalized
- New ERP System Design initiated
- Rebranding and Advertisement launched on Social Media and Local media
- Won Awards for Best Regional Plotting Company
- New Projects initiated in New Regions
- ERP System Design Completed
- Created Dealer Mobile Application to reach to Dealers seamlessly
- Decided to upgrade the ERP
- ERP Upgraded – Many Processes Streamlined and Automated
- Plan to upgrade the Mobile App
- Thoughts to expand in unknown territory to garner profits but compromising on areas where we have already gained exposure
- Analysing our Strength with help of data, realized not to jump to new area, rather focus more in the current area and create a niche
- Future strength area’s will be worked on but current focus will be on our strengthen areas (using BCG Matrx)
“This is a live example where Entrepreneurs Mind Transformation has helped Organization to Transform”
This has also helped Organization to transform from Individual driven to People Driven to Process Driven to Data Driven which should eventually become Culture Driven in coming years!