Starting a software business is just as much a psychological endeavor as a business undertaking. As a SaaS founder or CEO, you must possess the mindset that you can handle anything that comes at you and overcome the stress and challenges.
Co-Founder and CEO of OnLoop, Pojjal Ghatak, talks about how they managed their startup in the face of hardships. He shares with Host and B2B SaaS Sales Coach Matt Wolach what to do when you feel stagnant, or your business is facing an obstacle.
Podcast: Scale Your SaaS
Episode: Episode No. 252, “How to Develop Mental Fortitude In Business – With Projjal Ghatak”
Host: Matt Wolach, a B2B SaaS sales coach, Entrepreneur, and Investor
Guest: Projjal Ghatak, Co-Founder and CEO of OnLoop
TOP TIPS FROM THIS EPISODE
Trust Is Key
Due to the shift brought about by the pandemic, SaaS leaders have been developing new ways to monitor employees’ productivity, from employee monitoring software to micromanagement. As a result, there is massive anxiety both on the side of the leaders and on the side of the employees. This is referred to as “productivity paranoia,” leading to the breakdown of trust between employees and managers from both ends. The first step in overcoming this is to have a strong sense of trust between employers and employees. Employers need to trust that the employees are working, and employees need to know that employers genuinely believe that they’re doing good work.
Focus On the Bigger Picture
Starting a software business is like going through an obstacle course. There will be lots of challenges, and some of these challenges can start fights between employees. As a leader, you must step back and focus on the bigger picture. By doing this, you can see the extent of the problem and realize how much damage it can do. It will then be easier to deal with the problem.
Attack the Problem
Now that you’ve identified the problem, take a proactive approach. Worrying won’t get you far, and fear will only stop you from seeing the solutions. When problems cause employee disagreements, leaders should also know when and how to intervene—no need to find out who’s to blame. Just focus on finding solutions.
As a leader, you have to help yourself and your people to keep laser-focused on your goals. Problems should be stepping stones. Staying focused on solving them and using the best technology to solve the issue is essential. See the opportunity in every crisis,
Balance Work and Play
There’s nothing wrong with working hard. But there should be balance. Work, but have time for life. Burnout brings a negative impact on your work. This is why there is a need for work-life balance. It’s important to set boundaries and have an off switch – you can’t always be working! Take breaks regularly, and be sure to recharge from time to time.
The Importance of Being Seen
Everyone wants to be heard and seen, even in the workplace—and we mean everyone – managers, employees, and business owners. Recognition helps one see that the company values them and their contributions to the success of their team and the business. This promotes a sense of belongingness and security, motivating everyone to continue doing the work.
[00:10] “People want to feel seen, and managers need to see work getting done. And I think overall, people are just less seen. And that often makes people feel less successful.”
[10:54] “Managers have a good sense of where to intervene.”
[16:16] “Having a table or notion with a database built into a spreadsheet just makes sense after a while.”
[19:22] “ And sort of staying focused on solving a problem and sort of pick your first principles on how can we use the very best of technology we have to solve the problem at hand, I think has led us to a place where we feel well positioned to capture the opportunity.”
[03:29] “…something really, really bad can create some good things.”
[22:29] “That’s one of the things I just love about talking with great entrepreneurs is just seeing that vision and the passion come together.”
To learn more about Projjal Ghatak and OnLoop, visit: https://www.onloop.com/
You can also find Projjal Ghatak on LinkedIn at: https://sg.linkedin.com/in/pgonloop.
For more about how host Matt Wolach helps software companies achieve maximum growth, visit https://mattwolach.com/.