For over 12 years, I’ve been involved with Ascent, an entrepreneurial community that has shaped the way I think about business, leadership, and personal growth. In that time, I’ve had the privilege of initiating and rejuvenating Trust Groups across the country and training nearly 200 entrepreneurs through various workshops. The impact of these interactions has been profound, not just for those I’ve worked with, but for me as well.
As I reflect on my journey, I see three common challenges that MSMEs (Micro, Small, and Medium Enterprises) always talk about. More importantly, I’ve found solutions that have worked for me, and I hope they spark a conversation with you.
1. The Ever-Present Cash Flow Challenge
Most entrepreneurs will agree cash flow isn’t just another business function; it’s the lifeblood of a business. Yet, many of us avoid dealing with finance because it feels tedious or overwhelming. I’ve known too many MSMEs get into trouble simply because they weren’t proactive about managing cash flow.
What I’ve Learned:
- No matter how good you are at business development or operations, you can’t ignore cash flow.
- MSME owners often outsource or delegate finance and accounting, making it a blind spot.
- Cash flow planning must be done before the financial year starts.
- It’s better to take a topline haircut if your cash flow doesn’t support scaling.
- Avoid excessive reliance on private lenders—they’ll add to your stress, not solve your problems.
- You don’t need complex ERP tools , a simple daily report from your accountant can do wonders.
My Approach Now:
Every morning, I spend 15 minutes reviewing:
- My bank balance and credit utilization.
- Payments due in the next 30 days.
- Collections expected in the next 30 days.
This simple habit helps me decide whether we should focus on fundraising, negotiate better credit terms, chase outstanding payments or new business development.
The Impact:
We started as a company reliant on borrowed funds is now cash flow positive. Without financial stress, we have the mental space to innovate and grow.
2.Hiring Talent in MSMEs – A Constant Battle
The struggle to hire skilled talent is real. Large corporations with strong brand equity attract the best talent, leaving MSMEs with a constant hiring and attrition challenge. But rather than seeing this as a disadvantage, I’ve learned to turn it into an opportunity.
What I’ve Learned:
- MSMEs must create their own talent , Skilling should be a part of daily work.
- Attrition isn’t the enemy. Instead of worrying about people leaving, focus on why they leave.
- If an employee moves to a bigger company for double the salary, you’re doing something right.
- Training and skill-building should be embedded in the company culture.
- The best appraisal system isn’t an elaborate HR process—it’s a simple one-on-one conversation with your key people.
- Salary increments shouldn’t be a fixed percentage, instead, assess the cost of replacing that talent.
- When letting go of non-performers in your team , do it gracefully , support them find another job where they can perform.
The Impact:
In the past year alone, we’ve hired 40 new team members and leveraged government skilling programs like NAPS and NATS. AI tools have helped bridge skill gaps, turning our workforce into an efficient, excited, and future-ready team. We look at our team Beyond Balance Sheets
3.Work-Life Balance – A Myth or a Choice?
Entrepreneurs often sacrifice personal time for business success, but at what cost? Over time, I’ve realized that balance isn’t about doing everything equally—it’s about knowing what to prioritize at any given time.
What I’ve Learned:
- There are five key aspects of life: Business, Health & Fitness, Family, Recreation, and Me-Time.
- If you can manage at least three of them well at any given point, you’re doing fine.
- Priorities shift , it’s okay to slow down in business if your family needs you.
- Sacrifices are part of success, but they should never be irrational.
- Time is a perishable asset you have to manage it wisely.
The Impact:
I run Nova, an HVAC company with 175+ employees. I also lead Pureblu, a tech startup in the HVAC industry. I contribute to Ascent, RATA, and multiple industry associations. I host podcasts, write blogs, and conduct AI training sessions for entrepreneurs. But I also make time for running, trekking and family.
The key? Knowing what to focus on and when.