Well, I just saw an excellent video by Josh Talks, where Raghu Raman, the ex-soldier and a business analyst as well, gave a thundering 31 minutes speech on things which are not taught in the syllabus of any business school. Raghu Raman did some phenomenal observations on Indian Market. When we study the business we often study business models of great companies. But what about the business model of our Indian Market? What about the studies of trends that occur in our streets & shops who possess the maximum share in customer interaction.
In our country, 50% of GDP contribution comes from this unorganised market. 90% of the population is also working this market but we don’t study it, we don’t solve the problems in this sector, so we see higher unemployment on and on and on.
Now the question is, what to do? Principals taught in all great business school are already here in this unorganised market. Like talking with the decision-maker, adapting the change, CRM management and so on. Some examples given by Raghu sir were great while some were not satisfactory. But eventually, we can’t neglect such tremendous potential of our unorganised market, right?
The thing that I adored the most is the difference between the approaches of organised and unorganised markets. In organised one, you can wait, if the customer didn’t buy the product you can wait, if things are not working well you can wait.
But in the case of unorganised one, you can’t wait! You have to do anything to sell your product at any cost! You have to make things work at any cost every day, otherwise, you will be going to sleep empty stomach.
This challenge, this fear it is what the only factor of motivation is. The only factor for creativity, motivation and work here is, Food. The supply chain management, the marketing, the distribution, the HR, everything’s here but often ignored. This sector holds, loads of potential. India doesn’t need 5 or 6 unicorns or 100-200 big businesses, India needs 200-300 more businesses earning over 2-3 crores. No matter how much efforts you put into the education, there always will be fewer positions to work, because of the tremendous gap in the supply chain of education & industries. That is why it is indeed today’s need, to channelise the market efficiently.
The markets gonna burn hotter.