India is witnessing a silent revolution where innovators are donning the mantle of visionaries and tasting success with “marketable” ideas. They are using available resources to develop solutions to existing problems or a means to perform a certain task more economically and efficiently or even rather “differently”. The doctor-engineer-lawyer-government services impact is wearing off and it’s no longer uncommon for management graduates to say no to an attractive salary package in the corporate sector in order to set up their own ventures. People are turning to entrepreneurship as a means to realize their dreams within. They are now selling ideas which could be considered far fetched and have created successful businesses out of them. Thereby giving rise to a hot bed of innovations. The safety cocoon of a 9 to 5 job seems to have become passé for some adventurous Indians. They don’t seek after a job that takes care of their travel, medical expenses and pension. Theirs is a growing tribe and entrepreneurship is no longer unthinkable for the Indian middle class. It is in fact now a very viable career option and no longer the domain of those belonging to business families alone.
“Riches lie in Niches,” said Philip Kotler and that is where many an aspiring Indian entrepreneur seems to have found his or her calling.
This write up seeks to highlight the areas where some of
India’s brightest young talent has been able to carve out niches.
Armed with a little more than guts and gumption they have turned seemingly simple ideas in to lucrative business ventures.
In the end it all boils down to finding one’s USP (Unique Selling Proposition) which is the key to differentiation in an intensely competitive business environment.
IN THE BUSINESS OF SURPRISES:
When the twenty something Ruchi Chopra wanted to surprise her friend with a pizza she found that it was very difficult for the people at the pizza outlet to understand that the place to which the pizza had to be delivered and the one from which payment for it had to be collected were indeed different. It was then that it occurred to her that there must be many others who like her who want to do something special for their dear ones which time or geographical distances may not permit. With this realization Ruchi found her niche in the market and set up her creative venture aptly called “Any Surprise Any Place”.
Her company won NDTV award for the most creative business idea and it allows anyone who wants to surprise their loved ones with something as simple as a box of cookies or chocolates or as bizarre as live band, a clown or showering petals from a chopper to do so. The process is surprisingly simple one has to just log on to the company’s colorful and interactive website to order a surprise. Flexibility is the key here because those who want to order an exclusive surprise can call and discuss their requirements with Ruchi herself. The company is just the thing city stressed folks with no time to go out and buy that gift or wish a loved one in another city could do with.
AN ONLINE CIRCULATING LIBRARY FOR ALL THOSE BOOK LOVERS WITH NO TIME ON HAND:
In the era of the internet the magic of the written word and the touch of a paper back continue to beckon avid readers. Time again is an important constraint for those grappling with busy schedules and cannot just make it to the library. Librarywala.com is a venture that lets members order their favorite books from among over 8,000 paper backs for as little as Rs. 139/- per month (for the lowest priced membership plan).
Registering for a membership, ordering books and searching for a particular title or author can be done online.
Delivery at one’s door step at no extra cost is another feature that went down well in Mumbai where the venture was launched initially.
Having spread its operations to
Bangalore and Pune the venture is growing from strength to strength.
TATTOOS THE ALL NEW PERSONAL STYLE STATEMENTS:
Lifestyle dynamics are constantly opening up new avenues in fashion and style which is probably why the ancient art of tattooing is now a personal style statement.
It is an extension of the music video culture that has trickled down to “cool” youth brandishing tattoos on their bodies.
Thus the idea to set up Funky Monkey Tattoo and Design Studio was born.
After tasting success in
New Delhi, Mumbai was the next stop in April 2004.
Customers can choose from celtic, oriental, traditional, tribal, gangster, prisoner, biker or black and grey all kinds of tattoos are on offer at the studio which capitalizes on the urge to be different.
An assurance of the best equipment along with sterilized, disposable needles, safe dyes and contemporary and traditional designs to choose from for one’s very own piece of body art that’s temporary or permanent all rolled in to one adds to the USP of the studio.
A trendy brand name, hygienic processes and the otherwise hard to find trained tattoo artists together attract its young clientele who think nothing of spending a few thousands to get a temporary or permanent tattoo of their choice.
FASHION FOR EXPECTANT MOTHERS
An expectant mother’s search for some trendy maternity wear culminated in a business venture.
That really is the story behind Minal Joshi’s Pune based Uzazi Fashions Pvt.
Uzazi (parenthood in Swahili)
India’s first-ever range of maternity wear was launched in 2006.
It seeks to fill in the gap for stylish and comfortable maternity wear for the Indian woman.
In an environment where more and more women are working through out their pregnancy it’s important for them to feel comfortable and look good and the target group of consumers for this apparel brand is working women.
Pune being an IT hub the store aims at attracting buyers with its range of contemporary clothing like kurtis, shirts, T-tops, skirts, dresses and trousers that can be easily altered for regular use post delivery.
Affordable prices, styling, fabrics, focus on the Indian silhouette and built in adjustability are some unique features of this brand. A good distribution programme is in place with 10 exclusive stores on the anvil together with collaborations with retail big wigs.
THE ALL WOMEN TRAVEL CLUB
The Women traveler phenomenon is what prompted the much traveled Sumitra Senapathy to launch “Women on Wanderlust”, a travel club that’s exclusively devoted to women. Targeting single women wanting to travel on their own or those whose husbands are too busy to travel with them WOW arranges a trouble free and memorable holiday for them. WOW has hundreds of members and offers holiday packages to several destinations.
The idea was sharing the magical experience of traveling the world over with many other women who wanted to do so albeit in a safe environment. Sumitra put her energy and passion together to launch WOW as a solution to women who want to travel but do not like the idea of traveling alone. Needless to say single women travelers who wanted to have a stress free holiday all planned out for them and save time and money made a beeline for WOW since then there has been no looking back.
BRANDING THE VADA PAV
If Mac Donald’s could do it with the burger then MBA duo Dheeraj Gupta and Reeta Gupta have done it with the humble vada pav, a very popular option for a quick bite in Maharashtra. They embarked on the journey of branding the vada pav with one outlet on 23rd August 2001 and had 30 outlets in a span of five years. Their USP: hygiene, mechanized operations, swanky interiors and strategic location besides innovations like Chinese vada pav, paneer vada pav, etc.
The key to their success was the ability to see an opportunity in the single food product segment. They realized that giving the consumer “hygiene” which was lacking in the vada pav which was available in the market would help them to make in roads in to an intensely competitive market. Besides that the Jumbo King Vada Pav stores in Mumbai were all located near the railway stations where people were more likely to purchase the snack as a quick bite.
AFFORDABLE “GOLD” JEWELLERY:
What happens when you want to wear gold jewellery but don’t want to be blown away by high prices? “Simply switch to copper jewellery burnished with gold,” that’s what Manilal Cheda, the man behind the very successful Swarg, one-gram gold jewellery retail chain thought. His stylish, original looking ornaments that didn’t burn a hole in one’s pocket found favor with customer’s at his first store in Nasik. Going on to half a dozen stores across Mumbai Manilal has “struck gold”.
A mind boggling 40 designs created daily supported by some good research and human resource management has seen this simple idea succeed beyond imagination.
OBSERVATIONS & CONCLUSIONS:
- The aforesaid case studies indicate various ways of carving a niche for oneself. Once potential business owners find their forte it becomes easy for them to meet the needs of consumers.
- There is no dearth of opportunity for those who intend to set up a business. New products/services can be created by capitalizing on changing trends in lifestyles and incomes.
- Being “different” will prove to be the Unique Selling Proposition and product knowledge the ultimate marketing tool which will gain the customer’s confidence for products even at premium prices.
- Differentiation can be achieved through a product/service supported by its distribution strategy and technological factors which help both in positioning and identification in a crowded market.
- Each one of the featured ventures is a product/service that is exclusive and thus the business has a strong foundation. This backed by the determination to succeed is what has helped them to endure.
- Nearly each of the featured ventures is a start up enterprise launched by first generation entrepreneurs. Their spirit symbolizes that of a resurgent India ready to find opportunities in the challenges of modern day living.
- Almost all of them are using the internet to promote and/or market their products/services. Thereby simplifying the process of locating consumers, ordering and tracking orders.
