Entrepreneurship

An Example of Product Development Being Done Right – Wolk Company

When it comes to developing a new product, I have always been advocating that you first need to define a target market and then work hard to understand their needs (stated or otherwise) before you even go to the drawing board. This is at the heart of great product development. I came across “Wolk Company” today and was totally taken blown away by the work that they are doing. They have developed an air bag for the elderly to prevent damage to their hips when they fall. With more and more countries becoming home to more and more senior citizens, […]

Leadership

10 Things to Stop Doing This Year to Become More Effective

One of the most expensive gift we all have is the 24 hours we have in a day. If we want to improve our effectiveness, we need to learn to be able to do more in less time. So, in order to do more , we need to do less. So, I have created a list of things that i shall stop doing in 2015 so that i get the time to do things that matter to me more. Here is my list of things to stop doing in 2015: Stop Procrastination Stop Multi-Tasking Stop Trying to Please everyone Stop […]

Customer Engagement

Right Data at the Right Time to the Right People

Today I was travelling from Bangalore to Mumbai on an airline. I had a upgrade voucher that I used and got upgraded to Business Class. As soon as the flight took off, I realized that 6 of the 16 business class seats were un-occupied. That is such a waste of opportunity. The airline could have used this opportunity to delight at least 6 of their loyal customers. All the airline had to do was the following: Include the Frequent flier status/miles of the passengers in their manifesto. Once the boarding is completed and if there are vacant seats in the […]

Customer Engagement

The Importance of Setting the Right Expectations

Let me start this with another Mulla Nasruddin tale: Mulla Nasruddin was walking by a market when his friend told him about the great fair happening in the city hall and how everyone is going to see it.. So, Mulla decided to join in.. It was a fashion show and beautiful models, all dressed up, were seen walking the ramp. Sometime later, a fuming Mulla stormed out of the city hall. When his friend saw him storming out, he followed Mulla and asked him what got him so angry and worked up? Mulla said – They show all these beautiful women walking […]

Ideas, Marketing

Story of the Shopping Cart and the Secret to Spreading Ideas

Have you ever thought of how and when the modern day shopping cart was created? The story of the creation of shopping carts starts with Walter Deubner. He was running an old-style  grocery store was looking for a way to increase his business and observed that his customers’ purchases were limited by what they could conveniently carry home. So he did what any creative business man do – he created a solution that consisted of a paper bag with a cord running through it for strength. He patented this in 1915.   The second step in the evolution of the shopping cart was an improvement on […]