Tuesday, March 3, 2009

Learning Experience India 2 - 5

Dear All

This is the final Learning Experience India 2...

First of all I want to thank you for your kind feedback and also your own personal learning in relation to mine. Learning is a dual expressway, it can never be a single lane single direction road. The wider the dual expressway, the greater and faster the learning process.

Some of you wants to forward this series of learning experiences to your friends and colleague, I have no objection after all learning is about sharing.

I started this trip with two possible prospects and reviving old relationship.

On the propects, I have make some headway but it is still some way to go before closure. After so many years of business dealing, I conclude that all deals can be closed it is to what extend of the closure. As a consultant it is the daunting question of "Is it worth it?" Some deals require a lot of effort and some deals require reasonable effort and there will never be one that do nothing and get paid :). The 90% of the issues faced in any deal involves people or more specifically expectation. Only 10 % is technical issues to resolve.

Irregardless of whatever business you are in, managing expectation is never easy. If the client expectation is high, you have to ask yourself whether you can deliver. If their expectation is low then your remuneration or return may not be forthcoming. In any business whether you are in consultancy or in trading of widget, you have to put the client's expectation in line with the delieverable.... then you get satisfaction, better off if you can deliver greater than his expectation.

Expectation has a correlation with respect for you. The person you are working with must have your respect and only with respect will he/she listens to you. With respect, the expectation can be better managed. I come to understand also that respect has to be earned.

This trip has been very successful in more ways than one. First I get a chance to meet some of you and update on the happenings in your life. Some are happy with your job and some not so happy. My view is that to bear with the job for some time so as to built up your portfolio of experience. Four or even six months experience is just too short to be accountable to any future prospectus. As for those who have tie the knots or going to tie the knots.... my congratulation.

Continuing from the two prospects, my query "Is it worth it?"..... I have to walk away from one and focused on the other. Walking away from a good prospect job is never easy but as a business you must always know where is your limitiation. Keep the relationship with the client and be honest that you will not be able to help them......there will be job from them some other days. There is an old song and the chorus go like this.....

"You must know when to fold them
You must know when to fool them
You must know when to walk away
You must know when to run

You never count your money when you are sitting at the table
You can only count them when the deal is done."

From the song "The Gambler" by Kenny Roger.

Before I close off this learning experience, one of you asked me since I know India and if I have all the money in the world to start a business in India today..... what would it be.....The answer (not in order of perference)

1. Banquet Hall / conference center
2. Schools and education
3. Budget hotel
4. Retail training & consultancy
5. Geomancy
6. Pan masala
7. School bus
8. High end furniture
9. Infrastructure construction
10. to be continued........

The next Learning Experince will be in .......

Regards and best wishes

Koh Seng Choon

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