The Non-Financial Side of Business

Reading Time: 2 minutes
The Non-Financial Side of Business
A call with an industry colleague last week set in motion, thoughts on how we measure individual or business success.
As a kid growing up in India in the 80’s, studies used to be quite a tricky part of life. Studying history, for instance. We had a ton of dates to remember, and it somehow never made sense. The pointlessness of remembering precise dates of events ranging from a few decades to a few centuries gone by. Instead of, perhaps evaluating people gone by, on the basis of their actions, or the sum of their actions. Perhaps we would have learnt more about values. About actions and consequences. But they would not have it any other way. Events and dates of their occurrence was clearly more important to them.
Then came interesting subjects like physics, and a few deeper questions around it. [Link]
Subsequently, there was the ’Must. Read. Newspapers’ phase. Not just that, I guess people also expected you to remember current events. For someone who is not a keen quiz player, I felt it was pointless beyond just having a fair sense of what was happening. Somewhere I believed storing irrelevant information wouldn’t really matter someday.
Then, thankfully, the internet came to our rescue.
In my adult life, all around, businesses seem obsessed with numbers. Financials. Be it sales and profitability, or costs, or more complicated ones. Cost of acquiring a customer. Shopping cart abandonment. Customer churn rate. Average profit per visitor or Product conversion rate. Among others.
The world became, and continues to be increasingly obsessed with numbers and ratios. And that’s all most businesses focus on. The employee or customer can be at the receiving end of the bare minimum that a tight-margin allowance to appease a ratio will allow. But not more.
The day machines take over a business function, efficiency will jump up dramatically, as will profitability.
But where would that leave us? Put differently, have we always been missing a bigger point?
What will matter when machines take over (finally!), is what customers really want. Because then we won’t be obsessing over the numbers. Hopefully not at least.
And hopefully then, we’ll start to see that it is not a numbers game. That business is about relevance. If it’s useful or good, they will buy. If a process is well designed as per them, they will use it.
Numbers, as I’ve always held, are an incidental, intermittent aftereffect of a non-numerical, ongoing end-user pleasing process.
I’m not saying that top and bottom lines and all those in-between are irrelevant. Sure they help as indicators. But they perhaps help more when we are doing the more important job. Of ensuring the main objective of our business is met. Once you focus on the non-financial aspects that really run your business, you’ll see how the financials catch up. Automatically!

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Let’s Go Back to the Future

Reading Time: 3 minutes

Let’s Go Back to the Future

Last night, on the occasion of Mahatma Gandhi‘s birth anniversary, I came across an article titled ‘Where was Gandhiji born? Only 4 out of 10 gave the correct answer.’ [link]

What was the big deal anyway? While my outlook is not even half as non-violent as the Mahatma’s,  I have utmost respect for him.

But for questions like when was someone born, or where? History? I always seemed to have had a problem with History. Beyond doubt, History has a lot to offer us. After all, we cannot afford to figure out, experiment, and make all the mistakes ourselves. Things that have worked, or that haven’t; how lives have evolved, etc. all help us with decisions of today. History also inspires us. It tells us about something that has probably never been done before. Or, that people have tried but have all failed. It indirectly challenges people like you and me to prove History wrong. By knowing what is impossible, we can strive to make it possible.

History #1

On the flip side, I guess we humans also saw in History, that the problem of global warming did not exist till the late 19th century; and unfortunately, we seem to have taken it upon ourselves to change that too.

While growing up, what we were often taught in the name of History, was little short of nothing. I remember being scared before history tests. Struggling to remember dates and events. That is what was most focused upon. Who was someone’s husband or wife; or third wife or fourth husband of the second son or daughter? More confusing than my own family tree, which I still have a lot of trouble figuring out. Or when was this battle fought? Would you care, if you have trouble remembering your own spouse’s birthday. If not for family and friends, I’d probably have forgotten my birthday a long time ago.

History #2

Instead, History is actually a brilliant opportunity to teach children about life, the evolution of life, and so on. Teach them more about various cultures and religions; so that we come to respect cultures and religions better. To cultivate better understanding in them by asking them what they would have done in a similar situations from history. To encourage ideas and challenge children about things that were considered impossible up until now. 

And all the energy and brain-space we would save by not having to remember the ‘whats’ and ‘whens’ of history, can then be focused to understand the ‘why’ and ‘why not’ instead. Isn’t that what the Mahatma did? Change History?

History #3 - lego-gandhi

Image: Link

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