Interview: Ratish Pandey, Founder & Business Coach at Ethique Advisory

An interview with Ratish Pandey, Founder & Business Coach at Ethique Advisory, SME/MSMEs Business Coaching

Welcome to our interview with Mr. Ratish Pandey, Founder & Business Coach at Ethique Advisory, specializing in SME/MSMEs Business Coaching. With extensive experience in guiding small and medium-sized enterprises to success, Mr. Pandey brings valuable insights and strategies to the table.

Today, we have the privilege of delving into his expertise and gaining valuable insights into the world of SME/MSME business coaching.

As the founder of Ethique Advisory, could you tell us about the journey that led you to establish this coaching and advisory firm?

Ratish Pandey: Towards the latter part of my corporate career, I occasionally pondered entering the training or coaching field, though it was merely a fleeting thought. However, fate had different plans, and I found myself enrolling in a Business Coaching course with Action Coach.

Through the journey, I discovered my true calling. I was determined to pursue this path but with a unique approach, dedicated to providing genuine value to the business community. Thus, Ethique Advisory came into being.

What motivated you to become a business coach, and what do you find most rewarding about guiding and mentoring other entrepreneurs?

Ratish Pandey: The alarming failure rate among young leaders and entrepreneurs in the industry caught my attention once I left the corporate world. This reality became apparent to me through various encounters—former colleagues transitioning into business roles seeking guidance, young entrepreneurs within my network facing challenges.

Working with some of them, I realized that with the right training, I could make a difference. My aim was clear: to reduce the failure rate and empower people to succeed. This vision laid the foundation for starting Ethique Advisory. Since then, based on requests and needs, we have expanded our services portfolio, all aimed at enabling businesses to reach new heights and achieve profitable growth.

With your experience, what do you believe are the key qualities that differentiate successful businesses from those that struggle to thrive?

Ratish Pandey: As a business coach, I’ve identified several key qualities that differentiate successful businesses from those that struggle some top ones are:

• Well-Defined Goals: Clear, actionable objectives guide their progress and keep them focused.
• Strategic Planning: Thoughtful planning helps them navigate challenges and seize opportunities.
• Market Analysis: Continuous analysis of market trends ensures they stay relevant and competitive.
• USP Definition: Clearly defining their unique selling proposition sets them apart from the competition.
• Business Development Expertise: Skilled in identifying and capitalizing on new business opportunities.
• Growth Strategy/Product Roadmap: Developing and following a robust strategy for growth and product development.
• Customer Focus: Prioritizing customers’ needs and consistently delivering value builds strong loyalty.
• Strong Leadership: Effective leaders inspire and motivate their teams, fostering a positive and productive work environment.
• Operational Excellence: Streamlined processes and systems ensure efficiency and scalability.
• Financial Discipline: Careful financial management controls costs and supports wise investments.
• Employee Orientation: Valuing employees and fostering a collaborative and inclusive culture boosts morale and productivity.
• Resilience: Exhibiting resilience and perseverance, they learn from setbacks and continue to push forward.

Businesses with these elements in place are the ones that I have seen succeed more often than not.

In your coaching practice, what strategies do you employ to help business owners identify and overcome challenges they may be facing?

Ratish Pandey: Coaching Strategy is tailored for each business. To create effective strategies, I start by deeply understanding the business, its specific challenges, and the entrepreneur’s vision.

The first step involves alignment sessions with the client to understand their business goals and their personal aspirations and align the two.

From this alignment meeting strategies emerge. This is followed by regular quarterly check-in sessions, an integral part of our coaching process, that allows us to track progress and address emerging issues promptly.

At the end of each year, we conduct a thorough realignment of the business, factoring in the achievements, changes in the market or direction and lessons learned over the past year.

This helps us identify necessary adjustments in both personal and business goals, and re-strategize in line with that to ensure sustained growth and resilience.

Ethique Advisory focuses on sustainability and ethical business practices. How do you integrate these principles into your coaching and advisory services?

Ratish Pandey: At Ethique Advisory, we believe in helping businesses succeed but also Coach them to be conscious entrepreneurs. Our core values of integrity, respect, and commitment to excellence guide our coaching.

Our coaches go through a thorough training program that emphasizes these principles. We also have systems in place to ensure every coach follows our ethical approach.

When coaching we guide clients to  build businesses with strong ethics and transparency. We discuss and recommend sustainable practices that our clients could adopt in their business, helping them find ways to be environmentally and socially responsible.

By integrating these principles in our coaching, we help entrepreneurs and executives build businesses that are not only profitable but also make a positive impact.

In today’s rapidly changing business landscape, what advice would you give to entrepreneurs seeking to stay adaptable and resilient?

Ratish Pandey: To create an organization that can adapt and thrive in today’s complex business environment, consider integrating the following strategies in your buisness:

Implement agile methodologies. This requires breaking down projects into manageable, iterative cycles, which accelerates decision-making and product development, allowing real-time adjustments.

Adopt strategic planning, which requires proactively evaluating trends, potential risks, and opportunities to prepare for changes.

Leveraging cutting-edge technologies is vital for maintaining agility and responsiveness and staying competitive.

Cultivate a Change-Friendly Culture: The role of leadership in cultivating adaptability cannot be overstated. Leaders must create a culture that embraces change and encourages innovation.

Maintain transparent and open communication, especially during uncertain times, to build trust and align teams with the organization’s long-term goals.

With your expertise, what are some common misconceptions or myths about entrepreneurship that you often encounter, and how do you address them?

Ratish Pandey: The biggest misconception around entrepreneurship is that it’s all about making a lot of money and having fun because you’re your own boss. In reality, entrepreneurship is far more complex and challenging.

It involves immense hard work, unwavering accountability, and often, a lot of sweat and tears. While the rewards can be significant, the journey is demanding and requires resilience, dedication, and a relentless drive to overcome obstacles and achieve success.

Our discussion with Mr. Ratish Pandey has shed light on the challenges and opportunities facing SMEs and MSMEs. His expertise offers a roadmap for businesses aiming for sustainable growth and success.

We extend our sincere gratitude to Mr. Pandey for sharing his expertise with us today, and we look forward to seeing the positive impact his coaching continues to have on businesses worldwide.

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