1. Getting angel investors to fund the business.
2. Managing the present culture of the young start up organization at management level (Abhijeet, Narain & Ankush) and at department level (Operations & Marketing).
3. Ramping up the team & customer base.
The situation that got highlighted by the Angel Investor (Abhimanyu) was existing in the EliteHR since some time. Ignoring the internal loop holes early and trying to make it big is like taking a high risk for own business and planning to fail big.
What might have led to this situation?
Ignoring the issues for long, Miss on goal setting and performance driver reviews.
Lack of healthy communication among the partners.
Limiting focus on growing the business and market.
Missing SOPs, business reviews and evaluations.
Clarity of swapped roles and responsibilities of Narain & Abhijeet.
a) Immediate : (Resolving conflicts)
1. Open Communication of the situation to all the partners and involving them in collaborative identification of the issues like discipline, performance, challenges between operation & marketing team, etc. actions and results. Seeking participation to workable solutions. Be clear about what is required and how it will be achieved.
2. Recording and capturing what has worked well till date and how they can practice strengths to make it effective in future (Goal setting).
3. Ensuring that the incident happened between Narain and Abhijeet in front of all team is talked about and settled in one to one discussion.
4. Abhijeet (or partners) must seeking professional help (getting coached) to resolve the issue.
5. Scheduling timely business evaluation and review discussion (Performance driver reviews).
b) Long term : (Direction Setting)
1. Working towards winning the trust of the investors and customers to improve the business branding.
2. Effective & regular communication.
3. Planning for achieving the business goals and targets.
4. Setting up clear policies, incentive-based performance.
5. Self & partner development as a business & people leader.
6. Periodic review mechanism of departmental target, cohesive and collaborative approach in teams.