Blue ocean!
The first step in business could be a specialised product in unexplored market. This is principal of entrepreneurship driven business model. Identify a concept and believe in its potential. Live through this vision.
[+] Recently I heard about a business on domestic and industrial spike and lightning arrestors. Work includes design and installation. Market varies from all major industries. Surge protectors are mandatory in Telecom & IT. Concept in unheard of and unexplored. Few market leaders in world and it is near monopoly market in India. Revenue will be of few crores.
[+] My uncle is onto Fire alarm panel design. Well, he is one of early bird in the market. Now his fire alarm design are widely used all across India. Indian standards for fire alarm panel are recently framed with major inputs from him. Wow! what a way to lead an industry!
[+] Early birds always get a untold advantage in industry. Telecom in India saw a consolation phase where all early birds exit the business with high returns. This paved way for Airtel, Idea, Hutch market leadership. Sivasankaran (Aircel) comes to my mind when i think about winner of telecom race.
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2 comments:
Satheesh, Well said. Infact, I was thinking about the future status of Airtel when Reliance joined the game. The first-mover advantage has definitely helped Airtel a lot. Sunil Bharti Mittal inspires me a lot. Regarding your point on Aircel, Sivasankaran was definitely a winner. But he seems to be losing that advantage because of the economy of scale required in this kind of business.
You have a very good source of inspiration from your uncle. Make use of it.
BTW, I believe you meant consolidation and not consolation. :)
Gawli,
Sivasankaran could definitely do much better in Telecom, if he is interested in. I bet he is wishing to exit with huge profits.
Sunil's strategy is well documented , thnx to Business world. I too take a lot of inspiration from his works. Early bird with helluva lot of vision.
Look at LN Mittal da, he is greattt and all his perseverance is paying divident now. All mittals are churning great business deals da.
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