Creating a startup organisation is like building a house - the costs are going to escalate and it is going to take longer than you thought. #startup #lessonslearnt #mondaymorning
This blog started out to list my research on Indian Wealth Practices.But then I realised that my years of work on toolbox.com may have been archived by the site or is not readily available. So now this is my consolidated blog. Some day, of course, I plan to take this content to my own website with Data localisation.
Thursday, 29 October 2020
On Requirement Gathering
If you are a system design consultant, this piece is for you.
There is a children's poem that explains how the battle was lost for want of a horse shoe nail.
Take a printout of the poem and tape it just above your screen.
Remember that poem when you are doing requirement gathering. It is ALWAYS the small things.
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When do you do the transaction - how long after you have done it in the real world? Why do you think that is the optimal time?
What do you look for when deciding your sales pitch? What are the elements you need at once place, together?
When do you think its ok to share your password with a colleague? For which apps will you never do it?
What will you do if your orgn KRA requires you to fill daily updates, but you are in a field area with no signal?
***
After 15 years, I have found that the level, industry, or technology does not matter. When a project is delayed or faces user resistance, very often, it is because we did not ask the human questions.
We did not understand the fine print of their lives.
Is Gig economy the future?
I have been thinking about the work preferences of our talent.
Most people now agree that a second gig while being in a full time employment should be perfectly fine. It is their talent and their time. Covid has also taught us that employees don't need to be in office to be productive.
So, should we move to a model where people get paid for outcome, and there is no restriction on being employed at multiple workplaces at the same time?
What will this do to the non-competes and Non disclosures that most organisations need? We will meet the individual's need to have multiple sources of income, and the organisation's need to get work done at less money.
But is it the right model ? What are your thoughts?
As a leader / people professional, how do you think industry should respond to this need in the talent pool?
Today's lesson from the Panchatantra
Friendship among the honest is like the shadow in the latter half of the day - it starts small and slowly grows until it is taller than them both.
About The Social Dilemma
2 of the world's largest companies have a business model based on - advertisement.
Wednesday, 21 October 2020
Promotion Design Secrets that Mediums wont share with you
Today, Flipkart reported that 53% of their Big Billion sales came from Tier 3 and 4 cities of India. So, what does it take to reach that last mile, which has the money, but nowhere to spend it?
Kaithal, Joshimath, Parowal, Nagothane, Una, Ulwe, Udupi, Nanded, Dhanau, Kudal, Vardha, Solapur, Solan, Vishakhapatnam, Boregaon, Kolhapur, Ubarni, Nadurbar, Hinjilicut, Keonjhar, Sangnai, Madhopur, Bhimavaram, Ajmer, Avinashi, Arakkonam, Barnala, Jaitaran, Kair village, Madhopur, Salav, Guwahati, Palani, Patiala, Vadodara, Ukkunagaram, Surat, Gangtok, Jaipur… these are just some of the places
from where we get contributions and emails.
The journey of The
Children’s Post has been truly phenomenal during the pandemic.
We have been able to
establish connect with the last mile of India’s children. We now reach about 20
lakh children in Tier 2,3, and 4 cities of India.
Not surprisingly,
The Children’s Post has emerged as a great medium for advertisers to reach
parents and children in Tier 2, 3, and 4 cities of India.
In this post, I am
going to share 6 secrets that we, as a medium have learnt.
- Whether it is Sunfeast biscuits or Whitehat Jr., a consumer needs to
have at least 5-6 interactions with a brand before they even recognise the
brand.
Learning:
4 half page ads work better than 2 full page ads. Your brand may make a splash
one day, but public memory is short and needs to be frequently jogged.
- Cutting the clutter is a part of gathering the audience. The first
part of gathering the audience is the right target group. One of the
greatest mistakes advertisers make (and we made) is not doing the second
part – removing the clutter. They get very besotted by the numbers mediums
show them. For The Children’s Post, the TG is parents of children 8 and
above. But once we get to that vast number, the next step is to find
parents who want to give
their children a newspaper. THAT is the tricky part.
As a
product, we have advertised on digital media (Google and FB ads), and facebook
groups. With no success. Our Facebook group has just 2700 members, but most
advertisers who have promoted there have got enquiries and sign ups.
Learning:
It is not just about the numbers. Removing the clutter from the numbers is as
important. 2700 engaged and interested parents are better than 270000 members
who fit the general SEC profile.
- ONE interesting visual is enough.
One of
the best ads we ran had just one image – but that image was very unique and it
dominated the ad. That eye-catching image was enough to bring the reader to the
ad. The rest of the ad was just plain text. We learnt a lot from that campaign.
The ad did very well. The advertiser also got optimal returns because the size
of the ads was reduced, and frequency increased. Think Amul girl or Parle G
baby.
- An exclusive offer ALWAYS works
Even if
it is a simple 10% discount, every single advertiser who has used an offer “For
The Children’s Post Readers Only” has got a good response. One of our best ads
offered a lovely discount to our readers, for just one weekend. That exclusive
offer, call to action, and a deadline by which to get the offer, ensured that
people actually acted on the ad. Yes, they did have a lovely product -audience
fit too.
- Giving comes before getting
It is
the oldest tip in the book, and it is always true. Take your ad space, but use
it to give the reader something that helps them. This tip is especially useful
for ed techs. They forget the importance of user education in customer
acquisition. The TCP website is one of the few places where we give our
advertisers an opportunity to create user education articles with their
branding. The beauty of this placement is that it boosts the brand’s SEO for
all time to come. If you teach Vedic Maths through games, create a few puzzles
in your ad OR write an article on the website about Vedic Maths and how to get
started.
- Be sincere
Our early advertisers were teachers who moved to online classes. Their ads were simple and sincere. We found that in a world full of clutter, this sincerity and directness of communication really made the ads stand out. Every single one of them got enquiries and signups.
Note: This post is appearing parallely on our TCP Blog and our website.
Sunday, 18 October 2020
On Foundational Skills
When my son was born, I wanted him to have real-life skills. The more I saw his school books, the more despondent I became.
We are very loud when it comes to vocalising our concern for privacy, but will we pay for the benefits we get from the tech behemoths?
As The Social Dilemma outlines very accurately - this business model needs to change. But it cannot change without enough willing customers.
How do you think this business model can change, to retain the good, and lose the evil?