During a discussion with Bada Business’s Paritosh Sharma, thoughts were shared by Dr. Samir Sathe, the Executive vice President of Wadhwani Foundation. He shares his expertise on how one can build the necessary personal and professional competencies that are critical for success. Having consulted for Q00 companies across 200 countries for over 25 years, Dr. Sathe understands the critical traits that enable individuals to prosper and elucidates how these competencies can aid in career progression.

About Wadhwani Foundation

The Wadhwani Foundation represents a novel approach to a philanthropic and entrepreneurial combination started by an Silicon Valley entrepreneur and philanthropist, Dr. Romesh Wadhwani. He received the Padma Shree award and has been commended by the US President Obama, and ever since has dedicated his wealth towards fueling innovation and entrepreneurship globally.

The foundation aims to escalate educational initiatives and facilitate entrepreneurs as a means to drive economic development. This vision is shared with Dr. Sathe, who leads the Advantage Programme that seeks to provide people with important modern business skills.

5 Key Competencies to Grow in Life

Dr. Sathe believes that to build a successful career, there are five core competencies one should focus on.

To attain success, intention is a crucial element that shouldn’t be overlooked. According to Dr. Sathe, sincerity when hiring someone speaks volumes about their values. Having good intentions, along with commitment and integrity, serves as an incredible base to achieve success. Whether you’re starting a business or building a career for yourself, long-term goals are achievable when genuine intent is present.

Always ensure that the objectives you set for yourself are in line with your intentions. This will allow for a more focused outcome.

Lifelong Learning

Education is not limited to a formal classroom and that is something I need to emphasize. No matter what stage of your career you are at, continuous learning is a must. Whether you’re an employee or a business owner, Dr. Sathe highlighted the importance of creating something that will help you stand proud with all the effort you’ve put in.

Don’t strive for more knowledge solely through textbooks. Growth comes from experience and having a willingness to learn over time.

Ability to Adapt

Success cannot be achieved without successfully adapting to the situation at hand. Instead of employing those who are set in their ways, Dr. Sathe sets out to hire those who demonstrate a growth mindset. A new path filled with challenges and change doesn’t scare those who are willing to embrace it.

To foster adaptability and a growth mindset, we will recommend reading “Growth Mindset” by Carol Dweck.

Teamwork: Collaboration and Humility

It is essential, as Dr. Sathe notes, to emphasize the ability to function as part of a team. The best people are those that remain grounded, pay attention to others, and work towards a common objective. For instance, he cites Mahendra Singh Dhoni – “the Perfect Captain” – who, unlike Sachin Tendulkar, the other cricketing great, does not enjoy a strong leadership reputation, but instead leads with and for the team. Dhoni does not simply issue instructions.

Strategy: Work on having more patience and self-control, and you will see yourself integrating within a team better.

Skill Development: Your growth should never cease.

Dr. Sathe highlights that, as per Peter’s Principles, an employee’s knowledge serves as the basis for offering them a position. But once the individual gains that role, there is no more development or effort on their part. Their capabilities rest there. Such employees are said to have a career ceiling. It is important to continually challenge yourself and gain more skills, Dr. Sathe points out.

Strategy: Set new barriers for yourself. You can no longer reach that sense of achievement if you decide to remain at your current stage. Always strive to move forward.

Fostering the Ability to Work in a Team

Teamwork is not simply collaboration but rather, service to the broader objective. Dr. Sathe illustrates this concept using an example from cricket that elucidates the relationship between strategy and structure in a team. Sachin Tendulkar is often regarded as the God of cricket but Mahendra Singh Dhoni’s leadership and captaincy feats earned him the status of the Perfect Captain.

In order to increase one’s ability to cooperate with others, one has to develop a willingness to submit to others and listen to them.

Tip: Achieving success is commendable, but do not overdo it. Remain simple and modest and you will be able to collaborate easily.

Adopting A Learning Attitude

We are often molded by what we go through, and maintaining a level of modesty allows us to be receptive to other people’s ideas. But recognizing which of your thoughts are right is just as crucial, as well as understanding what other people bring to the table.

Tip: Reflect on your ideology and be prepared to abandon some of them. This will improve your ability to navigate new circumstances swiftly.

Does Reading Really Matter?

While Sathe appreciates the need for reading and acknowledges its importance, he also puts value on learning through experience. Although books provide a good foundation, working with other people and gaining insights from real life is just as essential.

Tip: Find ways to achieve learning goals through conversations and engagement. We learn a great deal from the real world which cannot be found within books.

Applying a Concept in Learning Within Institutions

While developing a strategy to promote experiential learning, Sathe mentions that educational institutions need to modify the way they teach in response to real world events. Curriculums that are not changed regularly do not equip students with the information and skills necessary for today’s world.

Tip: Did the institution use examples of real life scenarios, were the instructors knowledgeable, and is the syllabus current?

Coping with Failure and Developing Strength

In India, there is a social stigma attached to failure which inhibits risk taking among students. As Sathe explains, however, we need to remember that each and every advancement such as the invention of a telephone or a light bulb, was the outcome of multiple experiments and attempts to overcome failures. The important concept here is to adapt and improve from the learned mistakes.

Tip: If you are afraid to fail, always remember that every failure is an experience which teaches you something new.

What Needs to Be Considered in Writing a Business Proposal

In regard to business plans, Dr. Sathe comments that a business plan must contain objectives that are clear, methods for execution that show attention to detail, and flexibility. It is not additionally sufficient to present a guide to a business; it is also necessary to describe how the entrepreneur intends to deal with problems and other changes that may occur.

Caution: Always ensure that your business strategy is thorough, precise, and has room for adjustments in the future.

Creating Adaptability in Business

Dr. Sathe mentions a case of a business plan for a parking area with the possibility of converting it into an entertainment hub to maximize clientele. The idea was sound on paper, but implementation would have been difficult. He modified the parking lot by incorporating some elements of entertainment, thereby increasing overall business for the venture.

Caution: Flexibility is one of the most important business virtues to possess. Remove all barriers when it comes to fine-tuning plans and achieving targeted results, as any form of change can be beneficial.

Final Thought: Don’t be Wasteful

Dr. Samir Sathe gives us the most important teaching, which is that time should be regarded as the biggest blessing. Every minute in hand should count as a resource. If unused, the opportunity has been lost.

Caution: Don’t look out for the best time for any venture. Utilize all facets of time at your disposal to try and accomplish personal and professional induction.

With such competencies in focus, one can position himself or herself within the core values needed for success in business or life in general. Whether it’s nurturing a transformative approach, developing collaborative working relationships, or accepting challenges, these teachings from Dr. Samir Sathe are essential in meeting your set aspirations and creating new channels of success.