How Amazon and Netflix Destroyed Their Own Businesses
"He not busy being born, is busy dying" - Bob Dylan
"He not busy being born, is busy dying" - Bob Dylan
Silicon Valley. That’s the name that comes to an enterprise's mind when they face challenging business issues. No wonder enterprises from all over the world have set up offices / innovation center here. The latest company to make this pilgrimage, from India, is Wipro.
"If you are not embarrassed by the first version of your product, then you’ve launched too late." - Reid Hoffman, co-founder, LinkedIn
Let’s look at the statistics. Only 30 million out of 250 million internet users (12%) are shopping online despite being lured with heavy discounts, mouth watering promotional schemes and ‘Cash on Delivery’. There must be ‘pain' experienced by customers that must be stopping them from participating in the party. Unfortunately these paint points reside within the business model created by the 'biggies'!
Today’s customers are no longer satisfied being passively involved with the brand they patronize; they wish to be actively engaged with a brand because they subliminally believe that it belongs to them. Legally the brand belongs to the enterprise, but emotionally its ownership rests in the hearts of customers.
My first day ‘there’ begun with my missing the bus for my induction program, to be conducted at Ramada. ‘Here’, fortunately I reached on time, the induction though was- waiting in a small pantry for two hours for someone to acknowledge us. That’s how my internship journey began. It was only after two days, I realized that nothing was planned for us in advance. While I was already inducted into a 2 weeks training program over ‘there’. There implies one of the BIG 4 firms where I worked as an analyst before enrolling for MBA. My current firm is an app-based start-up in NCR region doing marketing activities for its clients.
We bring you Episode 9 of the Founding Fuel Series - New Rules of Business by Rajesh Srivastava where he talks about Growth Hacking - a concept where there is no additional marketing spend but exponential growth in users and/or revenue. He uses case studies not only of technology pioneers like Dropbox and Gmail but also of brick and mortar businesses like Reliance Infocomm (before it was given to ADAG) and Gillette.
I get asked all the time about the size of our team. From clients, fellow entrepreneurs, potential investors to potential employees. I see a pale of gloom descend on their face as soon as I say we are 5 people or less. We have never been more than 5 people at any point of time in our brief history. I wonder why it is such an important question. For most people it seems, it is a sign of progress.