Applying The Vital ‘7Cs’ To Boost Bhutan’s Business Development And Start-Up Culture
Successful navigation of these ‘7Cs’ will help you (Bhutan) to create the business legacy that you deserve and desire.
By Glenn E. Robinson | Kuensel
Glenn E. Robinson is the Managing Director at IC2 Institute, The University of Texas at Austin and XLr8 Andhra Pradesh Technology Business Accelerator, Senior Training Consultant to the DHI Business Acceleration Program (BizAP).
Austin, Texas – the place that I call ‘home’ – has undergone a radical metamorphosis over the past five decades.
From what was admittedly a provincial capital city in the 1960s to what is now considered the number one place in the US to launch a ‘start-up’.
What is the ‘Austin Model’ and how has it contributed to Texas’s success?
This transformation, affectionately called ‘The Austin Model’ was fuelled in large part by the ‘Triple Helix’: collaboration amongst thought-leaders in Government, Industry and Academia.
The University of Texas at Austin was a ‘prime mover’ of that development, so we know a thing or two about it, and how to create a legacy by creating companies, jobs and wealth.
Recently, I had the opportunity to read excerpts from the 2018 Bhutanese political party - Druk Nyamrup Tshogpa (DNT)’s platform.
Photo: Facebook/Druk Nyamrup Tshogpa
As a result of a recent national election, the DNT is now the governing party of Bhutan’s National Assembly.
I was very impressed by an overarching concept that drives their strategic initiatives, called the 3Cs: Coordination, Collaboration and Consolidation.
Although this three-pronged initiative is focused on the metamorphosis of Bhutan’s national governance, it is informed by a desire to achieve a similar ecosystem to that which has been created in Austin, Texas. It fits equally well into the governance of an entrepreneurial venture.
Glenn E. Robinson
Any developing enterprise will do well to keep planning (Coordination), teamwork (Collaboration) and good stewardship of resources (Consolidation) at the top of their mind as integral components of a long-term strategy.
Reading the DNT’s ‘3Cs’, I was struck by the synergy with what I call the ‘4Cs’ of business opportunity development:
More about the ‘4Cs’ of business development
Creative Capital: a ‘sixth sense’ allowing the entrepreneur to perceive problems as opportunities, thereby envisaging ideas for products and services as solutions.
Innovation Capital: builds critical mass to ‘put meat on the bones’ of the idea, with a view to offer complete solutions aligned with customer needs.
Human Capital: arguably the most valuable ‘C of the four, it provides the horsepower to fuel product and service development, delivery of value to customers and growth of the enterprise.
Financial Capital: funds required for accelerating product and service maturation, company expansion and diversification.
Tapping on the ‘7Cs’ for Bhutan’s economic success
Smooth sailing on these ‘7Cs’ can be a daunting task, requiring foresight, planning and ‘intestinal fortitude’ as you strive to steer your ship on the right path.
Photo: Thimphu Techpark
Sleepless nights, worry and industrial quantities of aspirin might well be the result!
One of my heroes, Beto O’Rorke, a Texas Congressman, put this feeling of angst in perspective:
“We can be defined by our fears, or we can be known by our ambitions!”
How do you want to be remembered? Successful navigation of these ‘7Cs’ will help you to create the business legacy that you deserve and desire.
Enjoy the journey!
This article first appeared in kuensel and has been edited for Daily Bhutan.