Two decades ago, it used to take quite a while before global technology and content was even commonly talked about in India. Much longer before it was accessible or affordable to us.
Today, India is home to numerous foreign manufacturing plants that cater to global demand. It is also home to several global R&D facilities. And we as consumers, are at par with the world, quickly becoming aware of, and easily adopting global technology and content. Especially when it comes to smartphones and mobile apps launched universally in multiple languages.
And yet, we Indians don’t seem to aim too high when it comes to our own entrepreneurial dreams. A bulk of us follow tried-and-tested business ideas. We seem glaringly averse to radical innovation; only a few daring to think beyond what everyone else is. From ‘another’ eCommerce site to ‘another’ aggregator, most business ideas are mediocre at best. What’s worse, there is little focus on the actual and incremental value-add, or the differentiation that these businesses are aimed at creating.
Delightful customer experiences too, remain more a mechanical compulsion and less a natural and genuine concern. It is also probably why Amazon has edged past Flipkart. Because Amazon understood customer needs and experiences in a foreign country better than our own folks could. I believe one of the fatal flaws at Flipkart, was that the founders should have been busy understanding how their customers consumed the service. To figure out areas to improve and delight. Instead, they were taking in too much money and too busy investing in other startups before their startup itself had arrived. It’s easy to see through Binny Bansal’s justification philosophy of “because I look at it as giving back.” To draw a parallel from flight safety instructions, ‘you should always fix your own oxygen mask on before helping children, elders, or others needing assistance.’ Let’s just hope it is still not too late for Flipkart to turn around, as Sandeep Singhal of Nexus Venture Partners stated, a few months ago.
Information and technology in themselves keep us at par with the world. So what stops us from dreaming beyond them at what’s next? And what stops us from setting global benchmarks in genuine and consistent customer delight?
We need to start imagining beyond what is obvious. We need to start understanding more than what data and analytics tells us. We need to be more in touch with customer behaviour and needs. We need to innovate.
That is the only way we can ever come a step closer to being the best in the world.
(updated on 17 Jan. 2017)