Gaps are omnipresent, and hence, the need for business is everywhere. All you really need is the right vision.
The conventional business model of reaching out to the customer is via retail and institution sales. For example, we know that in retail there are two major contributors – General Trade (Mom-and-Pop Stores) and Modern Trade. This is the conventional way. How about creating something in between, say SMT (Small Modern Trade). Likewise, there are various sub channels even in institutional model. A few years back, I shouldered the responsibility of a new, unique brand. Not only was it a new brand, it was also a new product category – something that was not sold until then. To build this product, we worked on a new channel and, in turn, helped the product achieve extremely high sales.
Creating a new channel is not easy. It is more about concept selling and establishing relationships with clients and a lot of time to build. But once built, you will reap the benefits for a long time.
In the last 10 years, working with startups, I have worked with and explored many channels. The kind of volumes derived from new channels can even save a sinking company. To build a brand in the retail and institution business, you burn a lot of cash and are in continuous pressure of delivering the numbers. This is when alternate channels come to the rescue. It gives such a boost to the business that you get to the number that you were looking at with lower investment. This gives one some breather to align to conventional business.
Alternate business,on the other hand, is a sales booster. But, eventually the conventional business needs to deliver. Alternate channels are is not permanent solutions and one cannot create a business plan or a forecasting for it. It is just a support that will help you sail in the initial days. It will give a push, so that one keeps on building the regular business. It is a means to an end but definitely not a long-term solution.
Sharp Consulting and Implementing Company (SCICO), headed by Vijay Sokhi, has devised a product called Sharp Sales Solution. This can be of great help in finding that initial boost that most of the startups are looking for. Sharp’s Map-Tap-Adapt and Sharp’s Pentagon models that can help lay down strong business foundation for any company. To know more, you can logon to www.scico.in.