A Quote by Rakesh Jhunjhunwala
I don't think Indian e-commerce companies have an evolved business model.
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Companies will need to pursue a more diversified business model, but I think those companies that have what I call a focused diversified business model will be more successful.
Indian companies have a very exciting global opportunity, Indian companies are well-respected globally, doors of business are more open. So that has been a focus for us, how do we globalise faster?
All too often, a successful new business model becomes the business model for companies not creative enough to invent their own.
I think, as e-commerce grows as a category, most e-commerce companies are focused on women because they are the decision makers and the consumers. When you think of e-commerce, and fashion is a big part of that, women are much more in tune with what other women are looking for online.
If you look at our original business model with the verticalized law firm, a lot of these companies that have this kind of full stack model are not going to survive. A lot of these companies, Atrium included, did not figure out how to make a dent in operational efficiency.
Startups are companies that are still in the process of searching for a business model. Ventures that are further along and executing their business models are no longer startups; they are early-stage companies.
We passionately set up a programme that we call the Indian gun programme. I challenged Colonel Bhatia, who heads our defence business, that let's build an Indian gun. There's a belief that Indian companies aren't capable of this, and we want to prove them wrong, as we did in components.
Generally, the technology that enables disruption is developed in the companies that are the practitioners of the original technology. That's where the understanding of the technology first comes together. They usually can't commercialize the technology because they have to couple it with the business model innovation, and because they tend to try to take all of their technologies to market through their original business model, somebody else just picks up the technology and changes the world through the business model innovation.
For the power given to Congress by the Constitution does not extend to the internal regulation of the commerce of a State (that is to say, of the commerce between citizen and citizen,) which remain exclusively with its own legislature; but to its external commerce only, that is to say, its commerce with another State, or with foreign nations, or with the Indian tribes.
The model a lot of companies use is a very pyramidal model which sort of designates that all creativity, all wisdom flows from the top. We think that's the absolute wrong model.
I actually think that bass is probably the instrument that has evolved in a quantum leap compared to other instruments. It's the instrument that's evolved the most, especially with how it's perceived. And even how it's played, and how it's viewed from a point of view of commerce, like with the music industry.
We now understand the distinction between startups - who search for a business model - versus existing companies - that execute a business plan.
Companies that acquire startups for their intellectual property, teams, or product lines are acquiring startups that are searching for a business model. If they acquire later stage companies who already have users/customers and/or a predictable revenue stream, they are acquiring companies that are executing.
I'm never gonna owe money because every time I get a dollar, I put it into another business, whether it's to buy goods or develop other companies. You don't have money; you have companies. That's one business model. That's mine. And I only associate with other people that are putting up their own money, 'cause they're the only ones that can relate.
Companies should not have a singular view of profitability. There needs to be a balance between commerce and social responsibility... The companies that are authentic about it will wind up as the companies that make more money.
[My] style evolved, not changed, but I think evolved as I grew and matured. I don't think there was any kind of change I did in a deliberate way - I think I just evolved.
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