Strategically Transforming Small and Medium Businesses
Small & Medium industry has been one of the major planks of India’s economic development strategy since independence. India accorded high- priority to SMEs from the very beginning and pursued support policies to make these enterprises viable and vibrant and over time, these have become major contributors to the GDP. Despite numerous protection and policy measures for the past so many years, SMEs have remained mostly small, technologically backwards and lacking in competitiveness. The opening of the Indian Economy in 1991 added problems to the SMEs.
Presently, the SMEs in India are at a crossroads and intense debate is centred around questions like what would be the future of the small enterprises? How can these enterprises survive in the international trade arena? What role can the govt play in making these SMEs more competitive? In this context, it is important to relook into the basic issues of SMEs, past, present and future prospects, especially in the policy framework.
ABOUT FOUNDER & CEO
Manoj Nair, Founder & CEO, MANCOM ConsulTECH Pvt. Ltd., an established name in the field of Small and Medium businesses. He served in his last capacity as Vice President- Sales & Distribution with the Life Insurance giant ICICI Prudential Life Insurance Company Ltd, before launching his own company MANCOM ConsulTECH.
Manoj has been with ICICI Pru Life for 18 years almost since its inception. He has managed the prime markets of India including Mumbai & Maharashtra and led successfully various channels like Agency, Bancassurance, Corporate Agency & Broker, Proprietary Sales Force etc. Manoj is a thought leader and an out of box thinker. Everyone vouches for his man-management skills and whichever markets he has managed; he has taken it to exceptional heights. He is instrumental in shaping thousands of careers. Manoj is a go-getter and a visionary and combines the power of dreams and aspirations with execution to make them a reality. Entrepreneurship was in his mind and servant leadership has always been his core value.
During pandemic times he got in touch with a few SME business owners. During his close interaction with them, he came to know about the challenges they are facing. He decided to do something for them. He found the purpose finally and decided to start his venture MANCOM ConsulTECH to serve them to transform their business. Meanwhile, the second wave of the pandemic hit and further two & halfmonths of lockdown was announced. He did thorough research and extensively interviewed 400 SME owners to prepare a road map to transform their business.
Manoj is committed to serving the nation by transforming SME business, that’s how MANCOM ConsulTECH came into existence.
MANCOM ConsulTECH is “The Growth Strategist” strategically transforms SMEs very effectively to accelerate their sales and profits through the right process and systems in place.
MANCOM consulTECH handholds business owners, their Sales & HR heads to create efficient models within their respective functions. MANCOM ConsulTECH’s practical approach to SMEs is getting appreciated everywhere and its problem-solving analytics has enabled businesses to grow their sales revenues to the tune of 30-66% monthly in just a matter of a few months.
MANCOM ConsulTECH challenges the preconceived notions of business owners. Sales being one of the biggest challenges they come across. Manoj believes if the SMEs do not have a proven process for SALES, then they do not have a proven process to SCALE.
So far, the company has been helping SMEs with better implementation, validation and accountability.
MANCOM ConsulTECH is building on a TECH platform where top-notch professionals of the leading business brands will serve the SMEs personally.
MANCOM ConsulTECH helps SMEs in:
- Organizing thoughts on growth strategy.
- Organizing how to develop the market for their product and sell proactively.
- Organizing to create strong processes & systems.
- Organizing time, money & effort in building the right team.
- Organizing to know the Market disruption and business threats.
- Organizing to invest time in learning.
VISION, MISSION AND CORE VALUES
- Vision- By March 2022, Business transformation case study of 50 SMEs.
- Mission- Transformation of not only business owners but their employees also. Participating in the growth story of SMEs, as the biggest contributor of GDP growth for the country.
- Values- Servant Leadership, Integrity & Customer Centric.
SCENARIO OF START-UPS
Manoj says, “India had the third-largest start-ups market in 2020 behind US and China. Our start-up ecosystem is still a hot market for private equity and venture capital. With India pushing towards a knowledge-based digital economy, startups have an extremely great future. India is an under-penetrated market as far as start-ups are concerned. Since India is looking forward to $ 5 trillion economies by 2025, we must encourage startups as they can play a pivotal role in shaping India’s economy.”
“It’s important to have a purpose in life, I find my purpose to serve SMEs,” says Manoj.
After interviewing 400 SMEs he understood Sales & identifying the manpower for the organisation as the biggest challenge. This is where I come into the picture. I help SMEs right from identifying the talent to set up a strong sales process and systems for the smooth functioning of their business.
Manoj has listed down the pain points and has started working on them. He comprehended that the owners are the ones involved in the day-to-day firefighting of business. They do not have the time to think about the business and grow. Jumping from one crisis to another. They are the supreme executioners and are involved in getting sales, going behind outstanding dues, production & procurement of raw material, inventory management. No building systems and processes. Far from technology!
SMEs do not perform any kind of marketing activities to generate leads for their sales. They are more dependent on referrals and word of mouth publicity.
No HR, no policies framework. They do not put enough time, effort and money to build the right team. No Performance management structure, no reward & recognition culture, and no one celebrate progress.
Manoj has developed processes and systems to help SMEs to drive their business. People may fail but not the systems and processes. Building systems will reduce the dependency on the SME and their teams. Manoj sits with business owners and teaches them how to look at the data and do the business analysis. Our business analysis has worked wonders for SMEs making them understand what the business threat or competition threat to them could be.
Also, he has helped them with putting the organizational structure to run the business effectively and has pushed them to chase bigger visions. He keeps them in action mode to implement what they learn while equipping them with new skills, knowledge and strategies. To sum it up, Manoj has given SMEs three mantras to work towards excellence – Clarity, Competence & Culture.
MANCOM ConsulTECH wants to be the one-stop solution for SMEs. Be it sales, Finance, HR, Inventory, Production, Customer Service, B2B connecting buyers and suppliers through tech Serving, etc., Manoj envisages that SMEs should be looking at the bigger picture of growth and start competing with big companies.
WORDS OF WISDOM
“Firstly, one needs to have a purpose. Anybody who has a purpose will surely flourish in entrepreneurship. Being an entrepreneur also means you are helping society in many ways. I firmly believe serving is the best religion.” My core values as a servant leader remain firm.
“We are pretty much impressed and delighted with our association with Mr. Manoj Nair. We could redesign our growth path and the entire team is filled with new zeal to accomplish the loft goal !! Owing to his effective processes and systems, there is good visibility,” claims Joseph Thomas, Chairman & Managing Director Duke Thomson’ s India “Manoj Nair is a dynamic professional who has majorly contributed to the growth of many business enterprises.
A sense of accomplishment accompanies while working with him as he adds zestful values to our teams changing our stance towards the market. He has also played a major role in market research, planning, segmental and converting the market potential into actual business reality that proved lucrative for Keshav in terms of our growth in domestic and international market,” says Navneet Garg , MD & CEO Keshav Group.
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