STAND - (OUT)

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BUSINESS TIP –

“If you have to survive in the competitive world today, irrespective of the business you are in, you have to do something that makes you STANDOUT amongst others.” – Hrishikesh Jobanputra, (Hrishi) of www.ecomnation.co 

EXAMPLES –

  1. Google – While there were other search engines available when they came, their results were fastest and most relevant. Their algorithm was user centric
  2. JustDial – There were lots of heavy phone diaries called Yellow pages, which people would use. JustDial did not print a diary, but created an online platform. Today most of the people who want a number, log on to justdial.com
  3. Autorickshaw with free wifi, newspaper etc – Sandeep Bacche in Bandra, Mumbai provides numerous services to his customers without extra charges. His auto is equipped with free wifi, newspaper, phone charger, LCD etc. He does charity, and free service on medical emergency. (Read more - https://bit.ly/2GnLgox)

IMPLEMENTABLE TIPS FOR YOU –

  • Add a service to the product that you trade in. Eg: If you are selling tiles, can you offer installation services?
  • Add a product/ service, which need not necessarily be your line of business; but where client base is the same. It will allow you to increase business and expand horizontally without extra effort of hunting for new clients
  • Continuously offer something, where you are the 1st in your market. It will always take time to build the product/ service, but you will have first mover advantage and can scale good profitability. This new is not a one time phenomenon, but a continuous process until you wish to be a leader in your industry
  • Create a whatsapp broadcast list (not a group), an email list or SMS list to update your clients with your new products/ services
  • Create a Google Business Page for your business. It’s free and can give lot of mileage during Google search
  • Get clients to rate you on JustDial and Google. Offer freebies if you deem fit
  • Offer free video calling service to your clients incase they want to interact with someone who couldn’t come for selection
  • Find ways to occupy accompanying children so that the parents can shop at ease while at your place. They might end up buying more than they thought
  • Offer tea/ snack whether they have bought from you or not. Don’t wait to offer until they buy
  • If parking is a major issue at your business place, have a valet service for customers

MY IMPLEMENTATIONS –

  • MicroTopping CONCRETE – Added a new product called MicroTopping, where client base of architects/ interior designers is same. Earlier we used to only buy and sell products where price was the only criteria for buying. This product is with execution; which means difficult for my competitors to enter. Moreover, it is trending for use on floor, walls, furniture exterior etc. across the world. We are get enquiries from across India for this. Massive scope ahead …
  • AQUATRON – While we are building loads of toilets under Swacch Bharat initiative, no one knows how to dispose the solid and liquid waste coming out of the toilets. It is a SHITTY business; but a niche one. We have ventured into it. Installations are being welcomed across India. Just waiting for it to reach PMO! Then sky is the limit. Again – nothing even close is available as a solution to AQUATRON

These two products are making us STAND OUT of the market and competition. While my competitors are busy cutting each other’s throats and extending credit, we have moved in a different direction and moving ahead!

Are you willing to STAND OUT? All it needs is a little bit of your time to think and courage to venture into a product/ service no one is offering yet! 

P.S. – Special thanks to Hrishi for coaxing me to start writing on business. It is his belief that has got this series going …

Further reads –

https://economictimes.indiatimes.com/slideshows/biz-entrepreneurship/7-simple-start-up-ideas-that-have-earned-lakhs-crores/slideshow/19105718.cms

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Love,
Amit Kothari

… always upgrading!

Last modified onSaturday, 21 April 2018 18:10
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