It had all started with my relentless quest to find all those hidden markets in India. I have been talking to a lot of people about different business models and I had realized that we either have high-capital B2B business models which need you to have a lot of cash upfront and hence are impossible to start or the wannabe entrepreneurs simply get into some kind of business that is already practiced in India, but then they just run like everyone else and barely manage to survive with just a handful of clients. Sounds like a crappy future to me, in spite of the lurking opportunities.
Guess what? Most of the entrepreneurs just join their family businesses while the richer and well-fed ones get a smack of the American Capitalism,pipe up a few empowered contacts, network established coterie of high-octane people and get into a sunshine industry like Human Resources Consulting or ITES, KPO and BPO or some variation of these industries.
What is appalling is the fact that very few people have really taken the trouble to do a proper market research and try to find golden nuggets in the form of new markets to tap into. New business models are a rarity here in India and apart from a few businesses, we don’t see much innovation happening here. Makemytrip.com, shaadi.com, bharatmatrimony.com and few more dot coms like that are all borrowed business models and we can’t really attribute any freshness quotient to them, can we?
I did a random observation and a quickie read up on some of the business models that abound in the U.S markets and saw that there is indeed potential for some of them to be aped in India. If those business models can be tweaked a bit and customized according to the evolving Indian Markets, there are bright chances of reaping the benefits of a cascading avalanche of business ideas.
Yes, there is also a reason as to why some of the enterprising and budding entrepreneurs refrain from doing this - the possibility FEAR of failure, the lack of zeal and initiative to go and find out if it can really work and the sheer guts, determination, temerity, tenacity and the enthusiam it would take to get the ball rolling.
India is still running on low-grade fuel, but still firing on all cylinders. It’s economy sputters on choked business models that run on almost no competition which leads to a macroscopic economic complacency. Business men don’t compete. Entrepreneurs have no challenge when it comes to running their businesses. Business is boring. There is no marketing, finance is just a matter of personal savings exercise and operations is only for the big steel companies.
This is not the way businesses ought to be run. Perhaps, this should ignite the creative spark in some of us. Maybe this is a potential market in itself.
If one can find a way to make cash out of this jalopy economy of ours, it might be the answer you are looking for.
3 Comments Received
hiiiiii
I want to share some of my views regarding this article.
In my opinion continuing the family business is the right option.As we come to know the hurdles in that bussiness and how to overcome those things practically.Once we enter into this field we come to know the market strategies and later we come think of other business dependind upon the market.
Finally I want to convey that before entering in to the new bussiness start with the old one and think of the other.
wats ur opinion on it.I want to share ur ideas on it and also wanna to new bussiness tips.
Reply to it.
Cheers
Swati Jaiswal
I agree with your comment on business acumen of Indians, so what are your suggestions for a new start up venture - may be a business model existing in West or a new startup business model which doesn’t exist in West.
I further require your comments on doing a market research for new startup venture in dotcom boom in India.
look forward for your reply
Vishwa
When you begin to start a business — it isn’t about being in a particular country or about any business model ( at least not as much)
It’s got to do with answering these questions :
1. What’s your business?
2. Who is your target market? ( it’ can’t be everybody!)
3. What products and services do you have to offer? ( They better be good!)
4. Do you know your competition ( If you have to do research, do it here)
5. How are you any different from your Competition? — You have to be, if you aren’t you shouldn’t be starting any business at all.
if your business model can answer these questions and then a little more, you are on your way to a great start.
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