25 Oct 2018, 09:30 — 4 min read
For centuries the majestic eagle has captured the imagination of humans. The eagle is considered to be a symbol of excellence, leadership and independence in many cultures. Entrepreneurs can learn several lessons from the eagle on how to overcome challenges in business.
1. Go beyond the present situation
The eagle flies beyond the clouds whenever there is a storm. Similarly, an entrepreneur needs to rise above day-to-day problems of running a business, look towards the future and build a business model that is sustainable. Determining the viability of the business model is extremely critical. One needs to look at business data coherently and see what is likely to move the needle. An entrepreneur must take decisive action based on the insights that the data reveals.
2. Build a new you
Every couple of years the eagle goes to the mountains and painfully removes its feathers. It strives to regrow the feathers. The metaphor is relevant from the point of view of building an organisation from a long-term point of view.
The DNA of an organisation is very critical. It is important to establish why change is ushered and what is required to grow. This helps to establish sustainable growth in the business.
3. Create strong marketing communication
An eagle in flight is a mesmerising sight to behold. It commands attention simply by virtue of its presence.
Ask yourself whether you can build a business, which is world-class, without strong marketing? The answer is a decisive 'no'. The key is to build a clear marketing message which is relevant, realistic and appealing. It is important for it to be memorable and unique. Moreover, there needs to be regular communication. This creates the edge required to differentiate a product.
4. Keep an eagle eye on cash flow
The eagle has one of the strongest eyes in the animal kingdom and this helps it to catch prey. Similarly, an entrepreneur must keep a sharp eye on cash flow and expenses.
Cash flow needs to be seen from a weekly, monthly, quarterly point of view. The purpose of this is to look at capital expenditure decisions like expansions, as well as monthly payments like salaries.
5. Reflect on strategic thinking everyday
Eagles learn lessons from their daily environment and this allows the species to flourish.
Ask yourself, 'what does my business need to go to the next level?' When we do this, we can build an edge every day. In a service business for instance, one must especially focus on culture, people and high delivery standards. This type of strategic thinking also helps to identify gaps and stay grounded.
6. Go for the kill
Once the target is identified, the eagle goes for the kill silently and with complete focus. This approach helps whenever one is in a high stakes situation. It could be dealing with a key client or with important stakeholders like regulators, key suppliers that could potentially change the game for your company.
Do you know any other traits of this bird that can help a business owner to scale new heights?
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Posted byAnirudh Anand Gupta
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4 days ago
30 Dec 2021, 14:31