The higher the towers, the higher the chances of success – this notion rippled across India a few decades ago. The likes of Tatas, Birlas and Modis followed by the likes of Reliances are all we ever knew and aspired to be. However, thanks to the changing face of technology and innovation, all that has changed in a big way. Gone are the days when big, multi-storeyed buildings equalled to money-making machines. India has been built over big businesses becoming bigger.
Entrepreneurship has been a strong word that has echoed over the last decade across various industries. The ability for new smarter players to innovate has caused ripples, specifically over the last decade. Across every segment, the growth has pulled younger people towards making millions by being entrepreneurs.
While the growth has been unprecedented, we see another layer of change coming in. The driver behind the change is customer data! The largest portion of spending in most enterprises these days is the cost of customer acquisition. From Snapdeal to Swiggy, this is what brings all organisations to the brink of bankruptcy. It is much easier to start a business when you have customer data in hand, compared to little or no data, which makes the turnover process a lot harder. Starting from scratch is great when you have to bake a cake, but not if you are looking to sell the cake to millions to make the big bucks in the most efficient way.
Over the next few years, we expect to see a rise in intrapreneurship, a concept that a lot of people are not familiar with, or even if they are, they don’t realise how profitable it is in the long run. The whole idea of following the instinct and seeing how things turn out, based on idealistic passions is very passe. Intrapreneurs today are able to make strategic, intelligent and quantifiable moves in business, which is based on numbers generated through consumers.
Intrapreneurship is like the extremely smart kid who works in a top notch company, learns the ropes, observes the system, becomes a part of the system, soaks up information, and then BOOM, uses the system to his advantage, and creates something bigger, better, and more innovative. Regardless of what one’s business plans may be, at the end of the day, the goal is to collect information in an organised way, and to put it to use in the best way possible. Data driven by customers is not our future, but our present, and impacts and gives our economy the face of success it deserves.
While entrepreneurship is a long drawn process in reaping the benefits, intrapreneurship is a faster way to getting things done with higher chances of success. In a nutshell, intrapreneurship is identifying the big picture within a large entity
So what gives intrapreneurs the edge over entrepreneurs?
The hunt is on to look for the next set of people, who could go to the likes of the following brands and innovate:
Kinetic India – They came out with a variant called Zing, wherein a mobile phone could be charged through the motorbike.
Infosys Technologies – They gave us On Mobile Global, which is a value added services firm, and is an eminent part of the Infosys group. It has grown into a full-fledged organisation with an entity of its own.
Uber – This is the best example when we speak of organisations that have reinvented traditional business models, and have caused ‘disruption’ in the most positive of ways. Uber-eats, Uber-logistics – you name it, you got it!
Microsoft India – The Indian centres for this big giant developed Biz Talk, a device management and event processing platform that defined the way radio frequency tags would be recognised by users.
Are you thinking of better ideas, or are you going to sit back and watch from the sidelines?