Erode, Tamil Nadu: Shree Shivkumar, 50, located himself in a financial and emotional abyss as an entrepreneur inside the overdue 2000s. His Erode-based totally family commercial enterprise, SKM, a cattle feed and fowl powerhouse in Tamil Nadu with a turnover of around ₹six hundred crores back then, become cut up among Shivkumar and his younger brother. Shivkumar felt shortchanged when as a part of the carve-up he got control of the institution’s eggs division, a relative rump with sales of only ₹80 crore.
“In traditional enterprise households in smaller towns, the older siblings regularly bring the load of having to be greater benevolent. When the cut-up took place, I everyday it, however, felt damaged,” Shivkumar said.
Shivkumar’s SKM Egg Products Export (India) Ltd is not most effective a ₹300 crore company but also the primary inside the Erode vicinity to move public and the biggest Indian exporter of egg merchandise, processing approximately 1.8 million eggs a day. “I owe the turnaround in my fortunes, in big measure, to Bouncing Board. It is my group of dependable specialists, personal confidantes, unbiased directors, and prolonged own family rolled into one,” he said.
A Bouncing Board is a closed, casual club of a dozen entrepreneurs from diverse sectors and with out competing for enterprise pursuits. So, as an instance, a Bouncing Board can best have one industrialist who operates in the actual property sector. Besides monthly conferences, the individuals get collectively twice a yr for an afternoon-long retreat in which they candidly proportion the whole lot that concerns their commercial enterprise and personal lives—from own family feuds to falling revenues. Empathy and complete confidentiality are the forex wherein the club price is paid.
In its objective of gaining knowledge of through shared reviews, a Bouncing Board sounds a chunk like Alcoholics Anonymous for those addicted to earnings. For entrepreneurs in small business clusters consisting of Erode (about four hundred kilometres (km) from Chennai) who regularly do no longer have the benefits of exposure to a much wider spectrum of professionally run agencies in metropolitan cities, equipped get entry to to industry systems or a massive corps of expert managers, Bouncing boards have ended up an essential self-assist institution.
Erode’s first Bouncing Board of which Shivkumar is a member turned into shaped in 2011. The mixed turnover of the participants of this group exceeds ₹three,000 crore. Now there are three Bouncing Boards in Erode by myself and one every in Trichy and Coimbatore. At a time when the financial slowdown poses an existential threat for small and medium agencies in massive textile and agro-processing clusters together with Erode, peer entrepreneur boards like Bouncing Boards act as a lifeline on both managerial and emotional fronts.
For instance, C. Devarajan, the coping with a director (MD) of the ₹800-crore URC Group with pursuits in production, hospitality and software found himself in the midst of a receivables disaster after the double whammy of demonetization and the products and offerings tax (GST). “It wasn’t that my clients wilfully held again bills. They had a cash crunch that turned into affecting my working prices. The suggestion from the contributors of the Bouncing Board become that I have to individually cognizance on this problem for a few months rather than business development or approach,” Devarajan said. It worked. “The sight of 55-year-old making weekly visits to their office perhaps exerted good enough ethical stress on them,” he stated, sitting in a pink-oxide floored, modest two-story residence this is his company headquarters (HQ).
Rules of the game
Bouncing Boards aren’t a consuming and socializing club. Its club comes with stringent and inviolable guidelines. To start with, attendance and punctuality on the monthly conferences and retreats are mandatory. Skipping multiple monthly meet—hosted by way of every one of the 12-member group with the aid of flip—in a year way expulsion; every minute’s delay of turning up submit the stipulated time draws a high-quality of ₹1,000, as does each a hundred gram of weight placed on with the aid of its participants for the reason that preceding assembly.