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	<title>Expand In India &#187; Starting a Business in India</title>
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	<description>Insights &#38; Resources to Expand Your Business in India</description>
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		<title>Growing Entrepreneurship &amp; New Route to Market Opportunity for Global Firms</title>
		<link>http://www.expandinindia.net/blog/market-opportunity-for-global-firms/</link>
		<comments>http://www.expandinindia.net/blog/market-opportunity-for-global-firms/#comments</comments>
		<pubDate>Mon, 25 Feb 2013 08:21:18 +0000</pubDate>
		<dc:creator>Rohit Chaturvedi</dc:creator>
				<category><![CDATA[Expand in India]]></category>
		<category><![CDATA[Indian Market]]></category>
		<category><![CDATA[Starting a Business in India]]></category>
		<category><![CDATA[market oppurtunity]]></category>

		<guid isPermaLink="false">http://www.expandinindia.net/blog/?p=1694</guid>
		<description><![CDATA[Indian society is seeing a silent revolution. Silent yet transformational!! More and more people in jobs are seeing Entrepreneurship as one of their career option (We have personally come across many such entrepreneurs or waiting to be entrepreneurs over the last one year itself). What seemed to be a big risk till some years back, is now emerging as a calculative risk. Not only the extreme strata of the societies (nothing to lose at one end to no fear of loss at the other) but the middle class as well is spreading its wings . Taking a leap of faith and jumping into Entrepreneurship: Why is it happening? While there are a large number of individual reasons to attribute, listed below are a few more prominent ones : The present generation of especially mid age employees (40-45 yrs) have grown in an age, where they had little career choice (compared to today). There was no portfolio of options available as is today or even if it was available, it was at a preliminary stage, prone to risks. They could never opt for them due to various reasons. Somewhere that latent dream is now reasserting itself. Decent salary packages over the last decade, due to rapid growth in economy &#38; more global integration have ensured some amount of financial safety buffer. The past 10-20 yrs of experience have helped them build a safety net to allow them to take calculative risks. Also with both partners working, they have a hedge against failure risks. They are seeing others making big in business and feel inspired and motivated There is confidence in the long term growth of Indian economy. They feel they can always come back as in a fast growing economy, there will be demand for skilled manpower. They have learnt the ropes of the trade and feel confident to professionally handle the tasks independently Freedom to do one’s own things. They feel in some sense the larger organisation ties them down in rigid boundaries. They have future aspirations to make their mark, but are somehow disillusioned by their prospects in present companies What are they raring to do? Technology start-ups Trading Consulting Manufacturing Other Services- Sourcing, Supply Chain.. Staying with the Entrepreneurs who are becoming traders or service providers. Let’s see what kind of companies specially can leverage the strengths of this new generation of Entrepreneurs: New Technology &#38; Concept Selling, High End Products/Services are the two categories which could benefit from this section of professionals These budding entrepreneurs are driven by a passion to not only grow but also to do something meaningful. They are well aware about the Indian market, have the right skill sets (value selling approach , communication skills etc) know the secrets to success (from identifying customer needs to fulfilling them) and are willing to put in their extra bit of efforts and energy to make it happen. They have established the right network over their past experience. They being start-ups have very few suppliers they work with and thereby put in maximum efforts on a focused portfolio, which leads to better results for individual suppliers (as opposed to a larger distributor/reseller, with whom one gets only a small % share of their attention and efforts) They are seeking differentiated opportunities as they understand that for run of the mill products it will be difficult for them to compete with established players. They have a more transparent and collaborative working style. Thus while its natural to go to larger established traders to distribute your product or services; it might be worthwhile to consider this breed of new entrepreneurs while planning your “Go to Market Strategy “.  There are a large number of examples of how these start-ups are assisting firms to grow in India. While one cannot generalise as to say this is the best route to market for all firms (this new breed may be capital starved) ,but yes this route is worth a serious consideration with the right assessments. 1,511&#160;total views, no views today You might also be interested in below related content: Starting up in India- Could be a Marathon, but one with good prize money! Investments Out, Productivity in for Indian firms Advocacy/ Prescription/ Spec-In- Building an Action Plan Transmission &#038; Distribution Sector in India- A big opportunity Personal Protection Equipment in India- Growing Safely Business Planning &#038; Execution for a Building Materials Firm]]></description>
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		<item>
		<title>Forget your need, I have a solution ?</title>
		<link>http://www.expandinindia.net/blog/forget-your-need-i-have-a-solution/</link>
		<comments>http://www.expandinindia.net/blog/forget-your-need-i-have-a-solution/#comments</comments>
		<pubDate>Tue, 15 Jan 2013 04:33:36 +0000</pubDate>
		<dc:creator>Jaideep Lahiri</dc:creator>
				<category><![CDATA[Business Opportunities in India]]></category>
		<category><![CDATA[Business Partners in India]]></category>
		<category><![CDATA[Business Tips]]></category>
		<category><![CDATA[Starting a Business in India]]></category>
		<category><![CDATA[Business Solutions]]></category>

		<guid isPermaLink="false">http://www.expandinindia.net/blog/?p=1630</guid>
		<description><![CDATA[Equaling his organization to a plane and requesting a change of engines while maintaining altitudes – this guy is thinking out of the box! The first one I met in a long while and one of my first intense interactions with a full blown “Chairman and M.D.” of a growing firm from Udaipur. I was excited. Employed by an IT major then, I was sure of providing a cracking Consulting Solution to this organization and I would start my association with them. Sadly, it took us, 4 continuous order losses before becoming the lead partner, in this organization’s progress and conversion from an ordinary company to a process driven and oriented organization before we truly understood their needs. The learning I took from my association with the various teams in this organization helped me rekindle the fire of knowledge received through the multiple training ordeals endured by me during my long career with leading corporate. Good trainers &#38; bosses have always taught/told me – understand the NEED of the customer! Below is learning from one of my losses: The message was simple: “We are an airplane flying at 20,000 feet and we are looking for a consulting partner who will help us change our engines and take us to higher grounds and never in the process should their altitude drop below their current levels”. The Chairman and MD were looking for a consulting partner who would help his teams achieve his vision. We immediately got working and dipped into the global resources pool to understand similar projects successfully done by us. There were many and my team and I were kind of sure that the order was ours! The 1st presentation: Was over in less than 3 minutes and while we were still discussing the second slide (first being the welcome one!). He cut us short to speak that he had made himself very clear in the past – he wasn’t looking for solutions that have worked with others and wanted an exclusive solution because they were unique.  He was looking for a “subject matter” expert and not a “content matter” expert that we were. The 2nd presentation: Lasted for over 2 hours with the Chairman himself speaking about his vision for more than half of the meeting. We had learn from our last meeting and had a “subject matter” expert and accompanying a few of us “content matter” experts. We were competing against some “Independent consultant” based in UK. So, how can this guy in UK even think of quoting close to our price? The signs we were reading projected us as the clear favorites &#38; internally we showcased this prospect as a “sure-win” and “commit” for the quarter. We submitted our very thought out solution and were told that the decision is pending and would be made on a specific day. The D-day: We were all anticipating the call asking us to come over and discuss the pricing and were disappointed not to have heard from the client for the next two days. Typical SME we thought, delayed decisions, only to be surprised to learn that the order was lost and the winner was this “Independent Consultant” from UK. His price was 10 times our quote (once converted to local currency, Indian Rupees). Wow! That was a hard hit! We were stunned. I always took it upon myself to understand why I lost or why I won and this case was no exception. In fact, in this case I wanted to learn even more so because of the huge price difference. We were so cheap and yet we lost. Why? Upon our next scheduled meeting I asked why and was told the following: “We have high regards for your company and are sorry that we failed to partner with you on this project. We will continue to engage with your organization and offer you opportunities for participation&#8217;s in offering services/solutions/products required for our change process.” Simply put, we had lost the order as we had failed to understand their true needs. We presented a solution that had been successfully implemented in the past and we expected the same to fit this organization. We were assuming that this solution would also fit this organizations needs and there was no need to look any further. This compared to the our Competitor who told them that he would work as a guide, helping his team understand the needs both – from themselves and available technology, to make the change work for them and their organization. We had clearly failed to understand the NEEDS of the customer and developed customer WANTS that fitted our solution perfectly. We lost! This is one of biggest flaws of any sales team and one can learn from ones mistakes and try and understand the true needs of the client and not put upon them wants that are supposedly met thanks to the features offered.  There are many available scientific and artistic methods to understand the Needs of our clients. Keep tuned for more blogs on available methods and tools! 1,539&#160;total views, no views today You might also be interested in below related content: Advocacy/ Prescription/ Spec-In- Building an Action Plan Business Planning &#038; Execution for a Building Materials Firm Finance as a Competitive Advantage Starting up in India- Could be a Marathon, but one with good prize money! Investments Out, Productivity in for Indian firms Transmission &#038; Distribution Sector in India- A big opportunity]]></description>
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		</item>
		<item>
		<title>Starting up in India- Could be a Marathon, but one with good prize money!</title>
		<link>http://www.expandinindia.net/blog/starting-up-in-india-could-be-a-marathon-but-one-with-good-prize-money/</link>
		<comments>http://www.expandinindia.net/blog/starting-up-in-india-could-be-a-marathon-but-one-with-good-prize-money/#comments</comments>
		<pubDate>Thu, 06 Dec 2012 08:15:45 +0000</pubDate>
		<dc:creator>Rohit Chaturvedi</dc:creator>
				<category><![CDATA[Starting a Business in India]]></category>
		<category><![CDATA[Business In India]]></category>
		<category><![CDATA[Business Opportunities]]></category>
		<category><![CDATA[Doing Business In India]]></category>
		<category><![CDATA[Expand Your Business]]></category>

		<guid isPermaLink="false">http://www.expandinindia.net/blog/?p=1573</guid>
		<description><![CDATA[While the Indian market statistics could be mouth watering, one has to keep a few things in mind while chalking out their business plans for India. And one such aspect is the trajectory of the sales ramp-up While in certain countries , once you are able to communicate/demonstrate the key benefits  of your product, you may be able to conclude the sale soon. In India lot happens between communicating the benefits and concluding the sale. The buying behaviour is different       The concerned purchase team may not have independence in decision making. Though the person sitting in front of you may pretend to be taking all decisions, things behind the scene could be different.       Risk taking capability is different and therefore trying something new could be avoided as far as possible in lot of organisations       Already seen (I am familiar with the existing product/service), why change?       Short term vs long term trade off. The approach more often is who knows about the long term, we need to demonstrate results now to our management.       The product approval process could take time.       Lack of past data or results most of the time may not allow rationale decisions.       Pricing. Plan to have a flexible pricing in the beginning in line with your brand objectives. As you demonstrate value and build relationship you can find ways to deliver more profitable sale from respective customers.       A standard question would be &#8211; Have you sold it anywhere else in India ? (They will say India is special, it has a very hot-humid &#38; dusty climate, the product has to see lot of abuse, and users may not be that skilled and educated and so on&#8230;). As a result the first few breakthroughs are very important. These could be used as building blocks for your future sales       It’s more difficult to sell directly in India to some customers due to their service expectations and commercial credit terms. Be prepared to have a hybrid route to market. Identifying the right customer needs some skill. So many diverse customers (buying behaviour) and so few of them technology savy- it’s tough. Lot of times companies keep attacking the wrong customers and it takes time to make the sale, as the energies are diffused over a larger population. Some other challenges are       Identifying the right product application for your products. Some of the product applications available globally maybe irrelevant for India in terms of opportunity attractiveness.       Access to customers/ key decision makers       Brand Awareness &#38; Strength is very important , as a moral support for the purchase/technical team By the above logic it may appear difficult to dislodge established players. True but it also helps you, once you have crossed over the initial hurdles- customers are rather sticky. As long as one can stay put for sufficient time, have the right business model and team setup , they will keep inching towards their goal and then enjoy a high growth stickiness..and a lot of Multinational Companies (MNC’s)  in India stand as glaring examples to this fact .. 267&#160;total views, no views today You might also be interested in below related content: Advocacy/ Prescription/ Spec-In- Building an Action Plan Business Planning &#038; Execution for a Building Materials Firm Investments Out, Productivity in for Indian firms Transmission &#038; Distribution Sector in India- A big opportunity Indian Railways- Gradual Acceleration &#038; Prospective Opportunities Forget your need, I have a solution ?]]></description>
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