Business Mode Post COVID19, A Few Ideas

By Akhil Paul

Photo: Adeolu Eletu

It’s not about new ideas for successful business model, because no idea is new, it recycles .The challenge is creating a brand or business that can win the competition. There was always hardship to make a new business successful since society turned from barter system to currency. The main difference in barter system and currency is, in barter both are buyers and sellers. The need for both is objective and complemented and immediately matched. In case of currency, it slowly became the game of push and pull. Moreover, with the emerging trend and technology it become more even disruptive which has made it more challenging, but open to all with ocean of opportunity.

Customer do not buy product, they buy product benefits. This has been my value proposition in 12 years of my business leadership. That means whatever we are selling, be it product or service has been reinvented by making it more beneficial for the consumer.When you make a product or provide a service you want your customers not only to buy it, but buy it over and over again, and more and more. Firstly People buy your product because you reached people or market. Second they buy again and again because you made loyal customers by your branding and 3rd they will buy more and more, by just adding or inventing more features and product coupled with your goodwill.

In my case it is B2B product oriented service and service oriented product.

Reach the market: To meet the first criteria, I tried to reach all across the industry but one by one. For every industry, I planed to reach its market place. In these case it was other service providers or consultants with whom it could be amalgamated, but very very in a more specialised manner.

Loyalty: In addition there has been relentless efforts to understand the problem areas and comforts of the client to give them ease of business. Like minimising their coordination headache by taking it on us with other consultants .compiling and recording multiple communication point in our system. Mostly and greatly helping them to convert their customer with innovative and  engaging service oriented product. In returns clients started depending on us and we retained their confidence. 

Goodwill: Now comes the key of winning over competition. With the reach and confidence of our clients, the different teams of  innovation , coordination and customer relationship jointly modify the service and product resulting innovation that presents new challenges to our own old products. Now we have genuine leverage to recommend our valued clients the new offerings because they have trust on us.

We as an ITES organisation offers array of 720 degree marketing tools and gears extended to pre and post service. Our latest involvement started 6 years back into Virtual and Augmented reality devised with IOT and sensors.

Timely and Responsive: The recent scenario and current crisis bring forth new challenges and opportunities simultaneously. The major problem faced by the organisation was working from home but with uninterrupted service to clients. As we are showing path to clients to become more digitalised and virtually efficient, we first applied it on us ,as I believe -what you preach you practice.

We started working from home one week prior to the lockdown imposed by the government, and with 100% efficiency.

Simple yet significant 

So my understanding is that all new emerging business which we call “startup” should add on top of existing business models that could be a layer of benefits which is unique and will fill up the loopholes. Then there is scope to innovate all the time. For example the business model of Food delivery app and its logistics. Restaurant and food joints were always there as there were customers. Just the layer of digital platforms and gap of logistics been added 

Another great thing is to consider for new or existing business is the top line executives. Its considerably expensive so new people with serious vision and digital appetite can make wonders. The top and extremely successful business houses are also hiring resources who can make disruptive ideas. It’s called transformation from Confucianism to Taoism.

Coming back to our organization, Mayabious, we are focused mainly on digitally advanced technology and Technics that resolve all the need now for us and our clients. We are working on a platform that can support —work from anywhere provided net is available with decent speed of 1mbps. On the other hand the product and services which enables our clients to reach their client completely on digital platforms starting from cold calls to the conversion. Entire marketing funnel.

Significantly, this lockdown assured us that we are fully equipped with virtual setup as for the first time we checked it with total resources.

Disclaimer: The opinions expressed in this article are the personal opinion of the author. The facts and opinions appearing in the article do not reflect the views of News Sense and News Sense does not assume any responsibility or liability for the same.