Sales offices in the top quadrant (High sales team engagement and high doctors’ engagement) were delivering 140% of targets while those in the bottom quadrant (Low sales team engagement and low doctors’ engagement) were delivering 75% of targets. (Numbers are modified to maintain confidentiality. However, they are dimensionally correct).

Mr Piramal stopped me and checked, “Is this a case study? Or are these our numbers?”

I said, “These are the numbers from your business, waiting to be a case study.”

The CFO confirmed that the numbers were for their business.

Mr Piramal said, “Let me know the plan and timeline to improve these numbers. Please tell me what I should do to ensure implementation”

Learning 1: Quantification of the impact of engagement on business can get a seasoned Chairman of a conglomerate interested in what you want to do”
Learning 2: After you are convinced about an initiative, get into action rather than question numbers.
Learning 3: Own what you think is critical for your business.

2 years later…

Mr. Piramal and his consultant Dr. Nitin Nohria (Yes. You heard it right. Dr. Nohria of Harvard Business School was his consultant) invested an hour in discussing a one-year plan for engaging teams with me.

2 days later…

I read in the Economic Times that Piramal Healthcare was sold to Abbott. I requested an appointment and met him in his office in the evening.

I asked him, “When the deal was finalised, why did you spend your precious hour discussing the one-year plan with me?

Mr Piramal said, “I create businesses to run them forever. I am a businessman. If I get a price for the business that is more than the business can deliver over the years, I sell it. No deal is done till it is inked”

He further added, “Don’t run after a buyer. Focus on your business. Buyers will run after you. You can decide if you want to sell.”

Learning 4: Build a profitable and sustainable business that becomes a leader in your industry.
Learning 5: Don’t count on the eggs before they are hatched.
Learning 6: Focus on creating value rather than valuation. Valuation will follow.

I have been following these learnings. It has helped me:

1. Drive profitable growth in all the businesses I have led and managed.
2. Mr Piramal’s advice acts as a compass for me in running our startup.
3. Create conviction of leaders in employee engagement and take ownership.
4. Celebrate success only after it is sealed.

Thank you Mr Ajay Piramal

What are your learnings?