Sales and Leadership Wisdom from the Leaders, Mr. Devang Mody – 4

Downcycles are part and parcel of any businessman or company’s life, so I asked Mr. Devang Mody, CEO – Bajaj Finserv Health, How have you handled the down cycles in business?
He replied I have a belief that if you don’t fail at all, that means you are not trying hard enough. So, you must have some failures, say a slump in sales or whatever. We hear words like market recession, industry failure, this not working, that is not working, competition etc from many leaders. Most important thing required to come out of failure is not to blame macro reasons to stakeholders as well as internal teams. You start that process by stopping to explain yourself that this bad patch is due to these things outside you. As when you blame macro, you are signaling that nothing can be done till those factors change. That way you feel that you are externalizing the blame. But in reality what you are doing is externalizing control. That way you will never come out.

You have to focus on what you as organization can do. Your people and your ecosystem will rise to occasion and bring you out of that problem . Someone someday is going to solve those problems. And key is you want to ensure that it is your team who is solving these problems most often. You focus your energy on what you can do. You will remit same to your teams. And most of them will try and solve that problems them selves rather than blaming the world. That’s what you want. And yoy will be able to come out of slump.

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