Book review – The speed of trust

Speed of trust
Speed of trust

Price: 500 INR

Author: Stephen MR Covey

This book was suggested to me quite some time back (by one of my mentors) got a chance to complete it recently. Written by Stephen MR Covey, son of Stephen Covey (senior), Speed of trust is a wonderful account of trust building in human relations. Personally, my experience with trust building is been a roller-coaster ride for me. I enjoyed tremendous amount of benefits in cases where I enjoyed higher level of trust, on the other hand struggled a lot when trust levels are low with the other person. Its hard to explain trust, mainly because “things happen” when it is there and “you feel it when you have it”. I was looking for some framework to work on getting better with trust building, where this book perfectly fit into. To start with Stephen establishes a business case for trust by connecting trust, speed and cost. In case of high trust environment, more things happen in real than talking or following-up. Hence speed goes up and cost comes down. On the other hand when trust levels are low, both individuals and organizations end up paying “trust tax” which slows down the progress of the overall progress. So level of trust has direct impact on organization’s  top line and bottom line in terms of financial implications. In case of no tax, top line and bottom line both goes up creating a ‘win-win’ proposition.

After establishing business case for trust, Stephen delves into multiple layers of trust and what are the key behaviors that will enhance the level of trust in any given situation. He starts with individual trust and further followed by relationship trust, organizational trust, market trust and societal trust. He goes on explaining key elements of building trust at various levels starting with individuals. Because if as an individual we don’t trust ourselves with highest level of authenticity, it becomes naturally reflected in other activities we handle and it gets passed on to others as a lower trust message.

As a part of trust framework, Stephen mentions how credibility is fundamental in establishing trust. In order to establish credibility four cores namely intent, integrity, capability and results play a vital role by laying down strong foundation. If these four codes are having issues with an individual, no amount of behavioral tactics will help in building trust. Once these cores are established strongly (thereby having higher credibility), individuals need to demonstrate certain key behaviors to establish higher trust environment. He talks about 13 behaviors (Talk straight, Demonstrate respect, Create transparency, Right wrongs, Slow loyalty, Deliver results, Get better, Confront reality, Clarify expectations, Practice accountability, Listen first, Keep commitments, Extend trust) as key behavioral elements.

With lucid examples and case studies Stephen takes though the framework of trust building. Stephen also talks about “Smart trust” where balancing right level of trust by tuning these parameters. Extending too much of trust sometimes might backfire (and I have personal experience in doing that) whereas extending less might create lesser trusty environment. So assessing the situation and extending right level of trust is key to have desired results. From outside trust might look like a intangible item, but its implications are very deep. It was a very hard and enriching learning to go through the framework and understand various elements of building trust.

The crux of coaching

Every year 5th September is celebrated as Teachers day in India. We were preparing a custom greeting card for our little one

Coaching
Coaching

(to share with her teacher) to demonstrate a good gesture. Around the same time my mind started thinking about teachers, coaching and positive impact it creates individuals. The process of coaching doesn’t end after we pass out from school/college; in fact one requires coaching from a different dimension afterwards. I have been coached by many exceptional individuals for whom I will remain eternally thankful. There are numerous occasions when I was clueless, done mistakes or even frustrated. These set of mentors/coaches were always available to me to help and support all the time. I tried to look back and try to understand what exactly these individuals have done to me? After all what exactly is the crux of coaching?

I would like to take my recent example of coaching from long distance running experience and try to find answer for my previous question. When individuals are getting trained for long distances, it is highly likely possible those individuals face difficulties to keep up with running long distances. The issue can be due to physical fatigue, injury, mental blockers, and inferiority thinking which eventually leads to lesser self confidence in the person. In such situations individuals end up running last or walk or even think of quitting the run. Understanding this state quickly, I have seen the coach end up running along with this slowest running person in the group.

Now what is the powerful and indirect message that coach is conveying? Primarily the slowest runner gets a mental support that he is not alone and running slowly is not a big issue. By getting an encouraging word or two during such situations (“Good job, you are getting better”) from the coach instills confidence and re-assurance. This creates a huge transformation on the person, who is getting coached, which will help them to get out of the issue (mentioned above) quickly, even though it might fall under any of the category.

Connecting back, this is exactly what they have done to me time-and-again. In challenging situations these mentors ensured that they kept faith and confidence, which meant a lot to me during such situations. With this support it was quite natural for me to figure out action and come out of difficulties.

In my opinion, having faith in individuals and installing confidence during difficult times summarizes the crux of coaching. For the person is receiving end it is a humbling experience.

BOOK REVIEW: My journey – Transforming dreams into action

Abdul Kalam
Transforming dreams into actions

Author: APJ Abdul Kalam

Price: 195 INR

For most Indians, reading about Abdul Kalam and his work is always an inspiring item. Post retirement, he started off his journey into writing by scripting his auto-biography titled ‘The wings of fire’, followed by some popular books like Ignited Minds, Envisioning an empowered nation, Turning points etc. Most of them talk about his early life in Rameshwaram followed by his experience with various defense and space research organizations. Another popular theme in these book is about “Vision 2020”, where Kalam is been articulating India becoming super power by 2012 by achieving excellence in technology, rural transformation, self reliance and self sustainability.

In this latest book ‘My journey – Transforming dreams into Action’, Kalam has followed pretty much the same canvas but gone into very small and specific stories. Unlike his previous books, he has chosen real life anecdotes and shared deeper learning from them. Growing up in town like Rameshwaram with very high aspirations and dreams is not very easy situation to handle. With lesser resources and exposure, Kalam need to go thru lot of struggle and build his career brick-by-brick. The most inspiring part is about him overcoming umpteen numbers of challenges and overcoming them with very strong vision and value.

For example, he explains how he became a working person at the age of 8 by supplying newspapers in Rameshwaram and struggle associated with it. Every day he would to get up at 4 AM followed by his morning tuition and prayers. In order to support his family Kalam takes a part time job of distributing newspapers to Rameshwaram household. Thanks to some policy change, Chennai-Dhanushkodi passenger train which carried daily newspaper bundle from Chennai removed Rameshwaram station from the list. This resulted in Kalam doing every day stunt by catching paper bundle thrown from a moving train at Rameshwaram station. Kalam will then go on distributing them after which his school day would start. In the evening he would finish his homework and complete settlement of newspaper daily account with his cousin who gave him this opportunity. It was quite obvious to see the amount of stress and pressure he might have gone thru as a 8 year old boy, but the way he put it across along with key learnings is simply amazing.

There are multiple similar stories related to his profession filled with struggle and failures.  Inspired by the vision of Dr. Vikram Sarabhai, Kalam and his team went on building Indian space story from the scratch.  He recalls how his professional career is similar to his early life in Rameshwaram – Lesser resources, Limited knowledge, larger challenges and a passion to win. Taking references from Bhagavat Gita to Thirukkural, Kalam mentions how he taken inspiration from these great ancient text to lift him up when things went wrong due to mistakes.  There were some repeated stories (ex: Church in Thumba becoming ISRO office, thanks to the local people), however they are always inspiring ones to hear again and again.

Unlike his previous books, Kalam kept this one very simple which can even read and understood by a high school kid. Definitely worth reading!

Book review: Employees First, Customer second

Jwritings - Employee first, Customer second
EFCS - Vineet Nayar

Author: Vineet Nayar

Price: 499 INR (Audio version of the book)

Employees First, Customer Second (EFCS) is creating buzz for a while now! Coined by HCL vetranVineet Nayar, this term has created a bunch of different interpretations, perspectives and discussions. I picked up audio version of this book from Reado, mainly to bring pace  to my reading habit. Listening to audio book, especially in busy city traffic conditions, makes it a enriching experience by putting better use of time. Also audio book helps to read book faster than the traditional printed books. I used to be an advocate of buying books in printed form and have them as my priceless possessions. Thanks to the busy schedule at work and home kindled me to explore innovative ways to keep my reading habit alive. EFCS is the first audio book I have heard (long time back I did similar stuff with one of the Tamil books, by having them listen during travel), so listening to an English audio book is also equally interesting experience.

Coming to EFCS book, author Vineet Nayar shares his transformational journey in HCL using EFCS framework. HCL, one of the top notch software services companies in India, steadily lost its stream both in business and people elements.  HCL was not considered as a preferred employer by many of people due to not so favorable work environment. Based on his experience by meeting HCL employees Vineet felt many key issues, which pushed him to make transformation in HCL by implementing EFCS. Fundamentally Vineet believed what he describes as ‘value zone’, which is nothing but an employee linkage with its customer. This critical zone where  customer interacts with software service organization like HCL to get the necessary assignment done. For customers, they see the software company and its value generation thru its employees who are interfacing with him/her. So from the organization perspective, if employees in the value zone, who can be enabled and empowered, would result in more value for customers. In order to take care of its customers better organizations need to work with their own people, to put them first before customers. Because every action they do eventually gets converted into value for customers thereby maximizing many things which include employee satisfaction, customer value, revenue, profitability etc. This doesn’t mean providing a second-class treatment to customer, but in order to give them first-class treatment, employees of the organization needs to be taken care.

With this basic principle, Vineet goes on executing EFCS by taking few important but bold changes in the organization. To start with, he gets his top 100 leadership team to buy in this concept of EFCS by creating what he describes  as ‘blueprint’ meetings.  Initially most of the senior leader were not able to buy in this idea with ‘yes, but….’ Thinking, but over a period of time, they start seeing the value of doing such things customers. Second, Nayar believes in order to implement EFCS successfullym, he need to build trust in the organization at all levels. In order to open up conversation with employees, he creates an internal two-way transparent web based system called ‘U and Me’ by openly making conversation with employees. Employees at any level can open conversation with the CEO (Nayar himself) or any of the senior leadership team. In case of specific questions, pertaining to a business line, the corresponding leader would provide the response. When this started off, initial days were more of making it as a compliant box, but over a period of time it turned out to be a platform to build two-way transparent conversation for building trust in the leadership. After attaining certain level of maturity, Vineet opened up this platform with a new item titled ‘My problems’ where he started seeing suggestions/inputs from employees for the issues faced by him with respect to competitors, business changes/challenges, media etc. He started getting very creative and workable suggestions from employees from all the level, which in turn created more belief in the leadership among employees.

Third, internal systems were tuned to support/empower and aid people in the ‘value zone’. For example business support functions like HR, finance, operations etc, need to be tuned for getting support to the business needs by creating a ticketing system with automatic upward escalation. This also broke the traditional power center concept by truly tuning the organization to be people centric, thereby eventually passing on the value to customers. In the same lines, Vineet opened up business results (revenue, profit, current status etc..) data of individual businesses as a transparent information across the organization. Every individual group/team were able to clearly see where their team/business stood with respect to other organizations. While this created some initial issues (ex: information leaking to the press, as HCL is a public listed company) but this created a sense of urgency and bias to take action for improving the situation. It took about four years time for Vineet to implement EFCS in multiple phases and he also explains the benefit/results of this framework in terms of revenues/profits/employee satisfaction. By taking certain big bold steps like EFCS, HCL is transformed into a multi billion dollar organization with capability to handle larget client base with higher criticality.

When such large scale tranformational changes are implemented, any organization will have its mixed response from people side. When I talked with some of my HCL friends about EFCS they were not so excited but admitted that it did had impact in the way HCL has done business. It required lot of courage backed with common-sense to float something like EFCS, but Nayar’s no non-sense common sense approach was really interesting to challenge stereotype management thinking.

Choice and Adversity

It’s always fun to act against gravitational force!

Last Sunday Karnataka state went for election where I got an opportunity to vote.  After completing the process, multiple thoughts started occupying my mind. In countries like India, it’s very easy to sail the stream of cynicism starting with political system by asking simple question like “what is the point in voting? Will it really make any difference?” . On contrary when things are going well and positive (in both personal and professional spaces), we tend to go with the flow because naturally enjoy that. However when things go wrong (or lot of cynicism around), it creates an uncomfortable situation for an individual. During such adverse situation, it requires tremendous amount of self courage (or mental stamina) to act against gravitational negativity.

Consider the following examples:

  • Every other political party and leader appears to be corrupt. What can I do about it?
  • For team, created plan ‘A’ but due business situation, complete plan needs to be scrapped by creating plan ‘B’. As a leader of the group how can I handle this?
  • In leadership responsibility, there are many things that are outside my sphere of control but still hold accountable when things go wrong. How do I answer myself during such situations?
  • There is enough and more political and positional advantages enjoyed by certain individuals which makes the situation full of ‘grey’. How do I navigate thru this?
  • Issues/mistakes made in the past are passed on as a ‘legacy issue’ which requires needs to be solved with no head-or-tail information about core of the problem. How do I handle this?

In such adverse situations, no formal education or quick fix stuff would work. It requires a lot of self courage, derived from character and say “yes, I know things are not great, it’s hard out there. But I am stick to basics by doing the right thing in a step-by-step manner. Such situations are temporary, not a reason for me to do wrong things”. After gaining more personal and professional experience (or getting older) I could see such situations can arise out of nowhere which can suck complete energy out if not taken care properly. So it requires stronger willpower to hold on the guns when things are not going in favor, fighting against gravity.

The power of choice, especially during adverse situation matters a lot, which eventually makes all the difference in the long term!

Bowling coach to Sachin Tendulkar – Make sense?

Of course it doesn’t make sense!

Why do anybody want to appoint a bowling coach to the greatest batsman that cricket has ever produced? Why do we want him to get better with bowling when he is so good at batting? He has been pretty decent part-time bowler who bowled few overs and got some crucial wickets (with some special ones like 1993 Hero cup semi finals against South Africa) as well. All he did for his two decades of historical cricketing career was to bat, bat and just bat!

When I look beyond Sachin, here are the key attributes of Indian top order today:

Sehwag/Gambhir (attacking, aggressive) – Apt for first 15 overs

Virat Kohli (controlled aggression, matured stroke-player) – Apt for 15-35 overs

Raina/Dhoni/Yuvraj (excellent strikers who can effortlessly clear the field plus great finishers of the game) – Apt for 35-50 overs

Of course, when wickets fall early, batsman should adapt to the situation and play. Definitely, this batting order is not arrived in a random fashion. It is arranged based on which position a batsman is exactly good at, based on his natural game. It is done with specific intent in mind so that the possibility of success in a match can be maximized.

Cut to corporate! In teams we end up having different set of people who has different set of strengths. For example in a product development team I typically find individuals who are good in different areas – innovation, requirement analysis, customer interfacing, coding, software designing, user experience, crisis handling, quality assurance, critical problem solving ability and some all-rounders who can do all the above mentioned roles fairly well. It becomes extremely important to have right people in right roles (similar to cricket batting order) to maximize success of the team. Again “success” here could mean anything – increased customer satisfaction, increased sales numbers, quality and on-time product launch etc.

Its always a puzzle and challenging task to identify what individuals are actually good at and provide them with right set of opportunities. In my opinion this is THE critical responsibility of leader who should spend good amount of time in doing that. When roles are identified according to individual’s strengths and corresponding responsibilities are defined, it can be completely left with individuals to produce desired result. When individuals feel they are doing the job where they are good at, it automatically increases their self esteem thereby lifting the overall moral of the individual. In summary is multiples result produced by the team. Let me explain this with some example.

Say an individual A who is extremely good at finding new technology and passionate about innovation. Driven by his creative mental ability he can almost always suggest a new way to get things done. However he may not be a process oriented individual, who might even think process kills creativity. There could be another individual B, who is meticulous when it comes to getting things done by following the process with 100% discipline. He would love to do same things again and again and improve it over a period of time. For him the maximum pleasure comes from continuously refining it, whereas for the former case it could be continuously creating something always. Given the core strength of individuals, they need to be placed in appropriate nature of work. For example A can be part of organizational technology incubation team, which demands frequent survey of latest technology and suggest future business possibilities. B can be placed as a customer facing individual who can champion by following meticulous steps with each and every customer, failing which can cause customer dis-satisfaction. Now what if these roles are reversed? The answer is obvious – planned disaster! A will get completely bored and frustrated with customer facing and B will get scared to come up with new things very frequently.

Identifying individual strengths and providing them with right roles is not always 100% possible in an organization, where there could be multiple options. The team/business may not require a particular strength or skill which an individual is good at. In such cases it is much better to rotate individuals to different opportunities inside the organization where their skills can be utilized in a better manner. Or in some worst scenario, it is better to let them go (or they will get frustrated and leave the organization) rather than wasting both individual and organization’s time. In some cases there would be a possibility that the individual skills matches to the role to a larger extent (say 80%) who can be still provided support for making him effective in the role.  In some other cases individuals need to be rotated across different roles (ex: R & D -> marking) to expose them different aspects of the business, which is part of leadership building process. As a direct impact, this will immediately reflect in an individual’s performance ratings. I will talk more about this in a separate post.

Sustainability Vs Delivering on numbers

For organizations it is always a challenge to balance between delivering numbers (ex: quarterly financial results) and balance our long term strategic priorities (ex: new business). At an individual level also we face similar dilemma, especially at leadership levels.

Typically in annual business planning activity would identify certain goals with specific targets. Popularly known as Key Performance Indicators (KPIs), these numbers take multiple forms: sales quota, revenues, improving efficiency or delivering some number of patents, depending on the type of organization. Linking KPI with business definitely helps to bring focus in leadership team. This will also help to measure results in as numbers demonstrate “unambigiousness”. If the organization is big enoug, this is typically what key stakeholders (customers, share holders, investors and employees) look forward in terms of Return of Investment (ROI).

In my opinion, this KPI oriented model has its own disadvantages when taken into extreme. When the leadership team is completely focused on delivering numbers, many bigger and strategic opportunities will go out of the window or gets missed. From people perspective when they come to know that they are measured only based on numbers, they will do anything and everything do make “numbers look good”. Many of the corporate scandals, sudden collapse of a leader or a business unit is mainly because of the polarized focus towards ‘number crunching’. When extremely high amount of importance and focus is given for delivering numbers, original thinking process gets restricted in leadership team, because of which organization may not forsee potential opportunity in the future, leading to sustainability issues in business.

On the other hand taking the KPIs out of the management system will create accountability issues. The whole organization might look to be doing something which is really long term and strategic but never oriented towards providing tangible results/benefits to the organization. The difference between “articulation” and “accomplishment” will go away where people will assume doing former is same as later.

The real spirit should be to use KPI as “indicators” to really get realistic view of what exactly happening in ground zero. In case of an individual business unit or a leader is failing to deliver on his numbers, proper introspection should be done by senior level leadership to make it better or take some strong decision. Simply put in Jack Welch’s terms, leadership team should be able to take a choice from “Fix, sell or close”. When there is an opportunity to fix the issue, corresponding leader should be given necessary opportunity and empowerment to “openly” say his numbers are bad and put in actions to close gaps for making things better.

KPIs should indicate something which should be reflection of reality, so that actions are taken to solve real time issues. The more realistic those actions are, better the organization becomes. Next time you get an opportunity to check some numbers, ensure you read the “meaning” behind those numbers.

Leadership dichotomy: Compassionate Vs. Ruthless

Let us start with two case studies.

Case-1: Consider a situation where one of your top performing members (person A) in the team is going thru a serious personal problem. The problem could come in many forms (love/affair failure, wife pregnancy complications, parents/kid having serious illness, perennial conflicts at home etc.) which make the individual disturbed because of which his focus on work might come down, due to which his intermediate deliverable may not be up to the mark. However he has earned his credibility in the team by consistently delivering on the expectations.

Case-2: Consider a situation where another member (person B) in the team, is not delivering on his business commitments where results are way below the expectations due to lack of ownership. Every other time, he comes up with some or other excuse for not doing the work, where proper effort is not spent let alone the results. However this individual has necessary capability to complete the work.

As a leader of the group, you end up facing cases mentioned above very frequently, which needs to be handled totally differently. With person A you need to be in ‘compassionate’ mode by understanding humane aspect of an individual by understanding personal issues/challenges faced. By considering the past record of this individual he needs to be given certain flexibility to sort of the personal problems. As a leader you can also offer solution or suggestion for him to come out of personal problem. But in simple terms, the leader has to take the ‘high on people, low on business’ approach by taking humane view into perspective.

In case of person B, you need to pass on a clear message with sharp feedback for not delivering on his commitment. If the situation prevails you need to quickly switch into ‘ruthless’ mode  by taking some strict action (ex: providing a performance improvement plan) or ask him to leave the organization if the situation worsens. When individuals are not delivering consistently, resulting in lower performance it should be treated very strictly. But in simple terms the leader has to take the ‘high business, low people’ approach by taking the business perspective into consideration. After-all organization and people are here to get things done and deliver on business commitments.

But the real challenge comes when you as a leader face multiple cases where you need to switch between ‘compassionate’ and ‘ruthless’ mode. Sometimes the mode switching has to happen in back-to-back meetings with hardly few minutes interval in between them. Based on my experience, the success of the leader depends on how seamlessly the leader is able to handle switching between these two modes, which is not an easy task at all. Also when it is not executed properly it may create disaster situations. For example, being ‘ruthless’ to the person A will create a ‘Hitler’ image of the leader to the individual (and eventually to the team) where the individual might feel his human aspects are not taken care. Also being ‘compassionate’ to person B will result in him enjoying paid vacation as a part of his job!

It really takes a lot on the leader to read the situations day-in-day-out and take decisions accordingly. Given the fact that leaders also human beings that have emotions, it is likely possible that leaders fail to switch between modes, which is normally known as ‘getting carried away’ by the situation. Achieving right balance between people and business is always challenging, which also makes leadership an ever evolving and ever learning journey as far as individuals are concerned. After all when it comes to leadership nobody can say ‘I am done’.

Who is the real “top” performer?

The performance management or appraisal system is one of the most debated topics around the globe, irrespective of the organization. After seeing different systems in different organizations, I come to a conclusion that most of them operate with same fundamentals. It can be summarized as follows:

  • What an individual has done in terms of given responsibilities (ex: Work volume)?
  • How an individual has gone about doing his responsibilities (ex: Behavioral aspects)?
  • What results (ex: Quantified) did an individual produce against given set of responsibilities?

While there may be minor differences in implementation among organizations, some of the members in a team or group need to be selected as ‘top’ performers, who did well in all the three dimensions mentioned above. These individuals are showered with higher salary raises, bonuses, perks, plum assignments etc. Sometimes these people are also regarded as ‘role models’ by giving rewards and recognitions. There is absolutely nothing wrong in doing this. High performing individuals need to be celebrated and showered with all possible benefits that organizations can provide.

However, there is a catch in identifying ‘real’ top performers. In my opinion these are the individuals who demonstrate strong character during adverse situations, which often goes missing in many evaluation methods. Given a team or group dynamics, things do change in terms of opportunities and situation. In such cases, there is a possibility where some of these top performers fail to meet the expectations, because of which their performance rating might come down a little bit. This is not because they have done really badly (after all they are high performers) but there are some other external factors (like somebody else in the team is doing better than him/her, other individuals are getting better opportunity etc…) which might have caused the situation.

The real litmus test starts when a high performance individual comes to know that his performance result has come down. Given the fact that we are all human beings, it is highly likely possible for those individuals react by saying – “No! I didn’t expect this”, “This is highly demotivating” or the most popular one “manager is biased; It’s all BS out there”. In some of the cases I have seen extreme cases where this “top-performer” becomes negative and starts spreading negativity in the team. In some cases we tend to wonder “Is this the same guy whom we rated high last time? Is this the same individual for whom we given so many awards in the past? Is this the same individual who was considered as role model one year back?”

The bottom line is very simple. Real top performers are the ones who not only do well when given higher performance ratings, but also accepts feedback in challenging situations and work for better performance next time. These individuals have a strong character which comes out during difficult times which is the sign of the “real” top performers. In fact I would rather bet on a guy who takes lesser performance rating and ready to work on it than a guy who just simply fails to accept the fact that he cannot be rated low.

The importance of hanging in there when things dont necessarily go your way

Nothing succeeds like success they say… There is an incredible “High” that success brings to you and your team. Everyone has a spring in their stride, the energy levels are high and there is spotlight that your team is basking on. Even as a manager, you are able to more easily keep your team motivated and also get better cross functional support for your initiatives.

However, things don’t always go or remain hunky dory in business. The best strategized and executed products do sometime fail, best planned projects sometimes don’t get delivered on time. The team starts feeling the pressure, there could be growing cynicism, dropping shoulders and an executive team that is focusing on your initiative more than you really care for.

How efficiently leaders and teams respond when they have their backs to the wall is a critical quality. As a Product Manager you need to be able to communicate though words, and more importantly, your body language that of you and your team are in charge.

In a Yoga course that I once attended, the teacher taught me the ability to say, and more importantly feel, “So what! What next?”. If you can truly get into that mode, the “What next?” allows you to divert your thinking and therefore your energy on exploring the next set of opportunities. The idea is to basically compartmentalize the “So what” and the “What next”. The former bringing to a realization that you are where you are – basically screwed; and the latter letting you focus on the steps to move ahead – do we need to pivot / do we need to re-look the strategy for this product / should we put in better processes. ALWAYS look for the next set of opportunities. They are around, if only you can compartmentalize and look hard.

Even in your hiring of critical positions, its a good idea for you to check how the person responded to an adverse situation and what it taught her. A recent very popular blog on Harvard Business Review was a good one on these lines – http://blogs.hbr.org/cs/2011/12/why_i_hire_people_who_fail.html

Interestingly this holds as good in sports as in business. We have all seen crickets teams that drop catches / miss run out chances / show fraying tempers when the chips are down and then we have seen teams that are keeping up the pressure even when things don’t go their ways and show a spirit which conveys, “We just need to break THIS partnership, and we’ll be back in the game”. The second mentioned team might still not break that partnership and possibly go on to lose, but that very attitude of always backing themselves puts them in a great position to get right back into the game.

– NWritings