10 lessons we learnt over 30 years of making companies successful in India – Part 2

Concluding part of the series in which we share ten invaluable lessons to help your company to be successful in India.

Lesson #6 - Hire hands-on competent leadership.

In choosing a CEO or Country Manager, find someone who has the execution and operations experience and not someone who is an expert in strategy. The most effective lot includes the talent at the 2nd or 3rd rung in your competitors, who apart from the experience and network possess the much needed fire in the belly and to establish a new brand and the hunger to be in the driver’s seat.

Lesson #7 - Innovate, innovate, innovate.

Be it localization of the product or a unique route-to-market or an out of the box marketing plan – be ready to innovate. The challenges posed by India are unique but the opportunities are manifold too – egging you to devise equally unique and new solutions and approaches.

Lesson #8 - Leverage the India advantage

Focussing on India only as a Consumer market can blind-side one to miss out on huge potential that lies in linking it to your global operations. Availability of raw materials and skilled English speaking work force makes India a Hub for global R&D, a centre for a.) sourcing components and materials, b.) IT development and support and c.) HR and finance services. Additionally India is a hub for entry into Asia Pacific as well as the growing Middle East.

Lesson #9 - Push above the line marketing.

Corporate and product branding is often the most effective source of competitive advantage in the Indian marketplace. Strong brand image backed by credentials and performance works like magic – across consumers, potential vendors and partners.

Lesson #10 – Create market if it doesn’t exist

With the momentum for manufacturing picking up and the purchasing power of middle class growing, the consumer take-up of new technologies and products is on a rise. Whether your customers are in the B2B or B2C segments – the potential for introducing performance-backed and superior products is immense. So don’t be afraid to drive and create your own market and buyers. Grab it like an opportunity never before. We hope that these lessons prove useful to you. If you have questions or would like to reach us – write to insights@tecnovaglobal.com