Practus Bridges the Strategy-Execution Gap in Business Consulting
In the world of high-stakes business consulting, strategy is often sold in glossy binders that gather dust on executive shelves. Deepak Narayanan, the founder of Practus, built his firm on a different premise: that the real value lies not in the plan itself, but in the grueling, messy, and rewarding work of execution.
Deepak's journey to founding Practus is as unconventional as his firm's approach. It's a story that spans 18 transfers across six states during a "nomadic" childhood, a rigorous education in Chartered Accountancy, and three distinct pivots that transformed a niche advisory firm into a global consulting powerhouse.
The Execution Gap
Many businesses fail not because they lack strategy, but because they lack the discipline and methodology to execute it. Practus addresses this by promising—and delivering—measurable ROI on consulting engagements.
The Nomadic Foundation: Building Character Through Change
Deepak attributes much of his entrepreneurial resilience to his childhood. As the son of a bank official, he moved every two years. "By the time I was in class nine, I had studied in six different states," Deepak recalls. While most kids crave stability, Deepak was forced to become an "outsider" who had to break into new ecosystems repeatedly.
This constant change taught him two critical entrepreneurial traits: adaptability and the ability to break the ice quickly. "You're always looking for friends, always looking to build a conversation," he explains. In the consulting world, where trust must be established rapidly, these soft skills became his greatest assets.
The Evolution of Practus: From Wealth Tree to MyCFO
The company we now know as Practus didn't emerge fully formed. It went through a series of tactical pivots necessitated by global economic shifts:
The Triple Pivot Journey
- Wealth Tree (2007): Started with a focus on helping multinationals establish their base in India. The name was inspired by Kalpavriksha, the wish-granting tree.
- MyCFO (2008): When the global recession hit, MNC expansion slowed. Deepak and his co-founder pivoted to serve Indian family-owned businesses that needed professional financial leadership but weren't ready for a full-time CFO.
- Practus (2020): As the firm's scope expanded to strategy, operations, supply chain, and digital transformation, the brand evolved into Practus—a name that reflects the core philosophy of "practice" and "execution."
The Art of the Trade-Off
Deepak believes that the most fundamental trait of an entrepreneur is the ability to navigate trade-offs. "Life is never black and white; it's about the nuances," he says. He shares a poignant example from the COVID-19 pandemic. While many firms were laying off staff to protect their bottom line, Practus took a different route.
"Our brain told us to cut costs and let people go. But our gut—and our culture—demanded a different approach." The firm held transparent conversations with the team, deferring variables but protecting fixed salaries and avoiding layoffs. This trade-off prioritized long-term loyalty over short-term savings, resulting in industry-low attrition rates when the markets eventually reopened.
Gut Instinct vs. Data-Driven Logic
Gut Instinct: Provides the hypothesis and the entrepreneurial drive to grow and expand.
Data/Logic: Used to validate the gut feeling, not to throw it away. "Logic is used to back your gut instincts, not to replace them," says Deepak.
The Future of Consulting in the Age of AI
With AI tools now capable of generating strategy reports in seconds, many wonder if the consulting industry is facing an existential threat. Deepak remains optimistic, drawing parallels to the arrival of computers in banks or the industrial revolution.
"AI is one of the best things to happen to consulting," he asserts. While AI can handle research and data synthesis, it cannot replicate critical thinking, contextual conversation, or the emotional intelligence required to manage change. "The days of making easy money in consulting are over. Firms now have to be extremely sharp and focused on execution, which is something AI can't do on the ground."
The Practus Differentiator
- 360-Degree Support: Moving beyond finance into strategy, operations, and digital.
- ROI Guarantee: A commitment to delivering tangible financial results for clients.
- Execution Bandwagon: Not just telling clients what to do, but getting it done alongside them.
The Spiritual Entrepreneur
Intriguingly, Deepak views entrepreneurship as a path of spiritual evolution. He believes the journey of building a company, with its inevitable highs and lows, naturally makes one more humble, grounded, and sensitive. "I look at what I was before I started and what I am today. The journey teaches you more than what you can contribute back to it," he muses.
Founder's Wisdom
Resilience is built through failure. Whether it's the rigors of a Chartered Accountancy course or the setbacks in sports, learning to "nursing your wounds" and get back in the game is what separates successful founders from the rest.
Key Takeaways
- Execution is Everything: Strategy is a commodity; the ability to implement and deliver results is the real differentiator.
- Embrace the Pivot: Don't be afraid to change your business model when the market shifts. Survival depends on adaptability.
- Nuanced Decision-Making: Avoid binary thinking. Recognize the trade-offs in every major decision and prioritize long-term value.
- AI as an Enabler: Use technology to democratize information and free up human talent for higher-level problem-solving.
About the Guest
Deepak Narayanan is the Founder and CEO of Practus. A Chartered Accountant by training with a background at Deloitte and Ernst & Young, Deepak has spent the last 18 years building a firm that bridges the gap between business strategy and on-the-ground execution. He is also an avid learner of astrology and believes deeply in the connection between entrepreneurial journeys and spiritual growth.
Practus is a leading business consulting firm that helps organizations improve their performance through execution-focused advisory. With a legacy rooted in the "MyCFO" model, Practus now offers comprehensive 360-degree consulting services, including financial advisory, digital transformation, and operational excellence, all backed by a commitment to measurable ROI.