Problems Exist and They Have to be Tacked - II
In the last post we discussed the ever-important need to evolve ways in which the retail investor, the micro customer and the small entrepreneur feel more empowered to design useful, profitable and desirable initiatives.
Let’s see what happens when individuals take charge.
Take the story of Mahesh Gupta. His children contracted jaundice, which is a water-borne disease. An engineer and an entrepreneur, having launched a successful designing and producing oil conservation equipment, Mahesh was not satisfied with the water purifying solutions available in the market. He decided to design his own water purifier and launched a new pioneering enterprise by the name of Kent RO that has introduced India to the reverse-osmosis technology.
Take the story of Vikaas Gutgutia. When he came from Kolkata to visit his girlfriend in Delhi, he was totally dissatisfied with the quality of flowers available. He went on to launch Ferns N Petals, a chain of boutique florists.
Phanindra Sama worked in Bengaluru and hailed from Hyderabad. One Diwali he could not book a ticket on a bus and hence could not get home in time. Along with friends, he launched Redbus.in that provides online bus tickets booking and has since delivered 1.5 crore happy rides!
Of course, every customer who is not content would not go on to launch their won enterprise. The simplest thing they can do is to vote with their feet, that is, they will discard the brand for an alternative offering. In a situation where the leading International brands are wooing the customers, can we afford to lose them? When many sellers are in the market, the customer dominates.
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