Growth Pangs – The MAST Formula
Natarajans Consulting formulae for Growth is simple:
( M x A x S ) to the power of T
Lets evaluate each component separate and then do the math
The first part of this Business Formula is M=Manpower
Manpower or customer connect / touch points to experience the organization – this could be Employees who engage (whether directly or indirectly, seen or unseen, through technology or otherwise) with the customer for any query or information that they seek and provide them a response or solution.
The Second part of the Business Formula is Activity
Activity is described as the function or action by the ‘manpower’ to engage a prospective customer to share their expressed or latent need / requirement and channelize them towards possible solutions available that exactly or nearly match the requirement.
More the activity = more the opportunity for business
The Third part of this business formula is Skill
Skill is defined as the human element of an activity which enhances its value for the creator and the receiver. So all activities which applied with human emotions is skill – which results in value for both parties. Let it be understood that of the four factors, this is probably the most important and even most difficult factor of the formula and requires a lot of effort to build and develop, retrain, relearn.
The fourth and a key enabler of this business formula is Technology
Technology is a tool. Its an enabler. As shared in earlier paragraphs, whether as an ATM, or as a Caller Bot, the role of technology is to reduce the ‘transactional’ part of mundane tasks. Eg, calling involves picking up the phone, dialing a number, disconnecting when unavailable, calling another number etc. The action / activity only starts when the call is connected and a (emotional) human responds on the other side. If all this information about the human is available and we can use this to create a more pleasant engagement, we can attract the receiver towards our required outcome
In our other posts we will share more insights into each of these areas and help MSMEs learn more on how to build themselves in these areas to grow, faster and economically to be competitive and profitable
To know more about how we support your organisations growth using the MAST formula, contact@nat-cons.com