V. VijayaraghavanManaging Director, Parametric Consultancy Services Private Limited, Chennai
The Big Question: "When no bank is ready to lend, what is the use of designing a product? "This was the question put before me when I was talking to a set of business owners, while conducting a design workshop for them.
I had the opportunity to conduct a Design Clinic Workshop for Micro,Small and Medium Enterprises (MSME) , at Bangalore, India.
This was a 5 day workshop that I conducted in June 2014, under the Design Clinic Scheme of Ministry of MSME, India.
Nominees from 16 enterprises in Bangalore participated in the workshop. Although the focus of the workshop was to help small enterprises adopt product design as a regular business operation, all the participants raised the above mentioned big question.
The quest for an answer
The question made me take up the task of finding an answer to this question.
While conducting the workshop, I tried to develop a concept of Syndicate manufacturing - small enterprises can form a syndicate and pool their resources to launch a new product, thereby sharing the burden of cost. The participants were interested, but the question remained unanswered.
Top 5 reasons banks deny loans to samll business?
When I talked to bank branch managers, they highlighted a few points:
- Bad Credit Score
- Cash Flow issues
- Debt utilization issues
- Not enough collateral
- Business is risky
My 25+ years of experience in the manufacturing sector taught me the lesson that small enterprises do not have access to professional managers. Without professional managers on their payroll, setting and maintaining a management framework is difficult. The situation is compounded by the unpredictable market in these times.
I have been teaching
- programming languages (C,Java,Python,Pascal),
- Electronic design and
- Project management.
In my over 12 years of experience in teaching project management - especially PMP aspirants, I nave come to understand the benefits of adopting project management. I also understood that project management can be very effective in improving business operations and add agility to an enterprise.
I decided that that I will help small businesses to:
- 1. Set up management frameworks and use project management methods and techniques and other new methods of enterprise management.
- 2. Have access to knowledge in management methods and techniques affordable to the small business/enterprise.
This decision was the genesis of Gyanworx Enterprise Management Studio.
The online embedded training in Project Management is merely the first step!