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BusinessMakers Classic Minute - Ashokisim

Ashok Rao

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Ashok Rao, serial entrepreneur, repeat BusinessMakers guest and chairman of the world’s largest entrepreneur organization, TiE Global, offers crisis management advice.

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Russ: And now it's time for another BusinessMakers Classic Minute, the focus on advice for entrepreneurs from entrepreneurs. Today from a show corral, once again, the chairman of TiE, the Indus entrepreneur of the world's largest group of entrepreneurs, and also the founder and CEO of Houdini.

So, Ashok, there are times when things are just bad and you know it, you're building your company, your team knows it. I mean, the whole organization is just in the doldrums. Are there any pieces of advice you can give to get out of that?

Ashok: Oh, absolutely, and you've probably done this yourself, and so also have many of the people who are watching. And during doldrums, go ahead and precipitate a crisis, and then manage to it, which is even more important. And by that I mean go out and maybe over-promise something to a customer. Come back and say, "Hey, folks, we've got 60 days to deliver this feature." Then watch what happens. But make sure you provide the employees the tools. Don't expect them to do something impossible. But during doldrums, precipitate a crisis, and then manage to it.

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