People & Startups

Five Important takeaways for Entrepreneurs from Reliance Jio.

Five Important takeaways for Entrepreneurs from Reliance Jio
Five Important takeaways for Entrepreneurs from Reliance Jio.

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Building of Titanic took time and while it was in production, its grandeur, design and massive structure did its branding.  Its first on-board journey bookings was a record success. What happened to Titanic while it was sailing through was unfortunate but it nailed its engineering supremacy and luxury in the minds of people, for ages!

Jio has envisaged the vision of fuelling the Digital India. Their plans and free calls schemes are a severe blow to the existing players and for some of them who are sitting on limited network bandwidth and limited users might die out in front of this raging sun. Jio’s performance shall be sought with time but it has certainly nailed one of the biggest case studies in the history of Telecommunication sector not just in India, but across the globe! It will be remembered like the iconic brand Titanic, irrespective whether it succeeds or die out.

1. Don’t execute to die! Execute to succeed. Tweet this

 Much of our conscious and subconscious intelligence would conclude that only Reliance could do it as they have deep pockets. Just think from the perspective that what would happen to such a massive company’s business reputation, if it fails? Calculate the amount, intensity and quantum of risks. As per records, Reliance has already spent more than INR 1,50,000 Crores on Jio till now.  The risks are exponentially higher for an established brand like Reliance to roll such a project and with a competitive pricing that can shut shops for Industry veterans in Telecom sector. If they would have been working with this mind-set, they could not have built Jio. They are planning to create history, working to succeed, executing to win!

2.Delay the launch only if you are able to surprise users with your product!

 Jio was supposed to roll out in 2015, yet it was postponed because it lacked preparedness and Reliance took the decision to ensure all their fixes are executed, checked and tested before they are set to launch. It’s better to postpone the dates rather than disappointing the users. Your product, features and marketing channels need to be in place before launch so that the user doesn’t build their first impression as negative. Users will exempt you to have disappointed them with the delay in launch, only if you are able to surprise them with your product!

3.Plan it so well that you don’t have a competition! Tweet this

Fully capable 4G handsets under INR 3K, lowest cost of data (INR 50/GB) and free voice calls, they have nailed it and this time probably no option for competitors but to either bear loss by offering discounts, and die gradually or surrender. Did Reliance came up with this tariff a month back and planned to roll it out this week?  Nope, they have planned really deep and wide for this day to arrive. Their massive network of optical fibres connecting 18000 cities and 2 lakhs villages and a robust telecom infrastructure to support 90% of Indian population by March 2017 was planned and executed to bring this day of glory for Reliance!

4. Remember User is the king and Price is the Queen.

India has been seeing massive adoptions of mobile phone and it continues to grow with the low prices of mobile handsets. Data and Internet penetration stood as a big challenge and places where internet was available it was much costly for a common man to afford. Existing behemoths like Airtel and Vodafone never took the plunge of bringing in revolution to the existing telecom ecosystem by revolutionising the existing telecom infrastructure. Reliance understood that user needs cheaper data and their profit can be skimmed by economies of scale. What it needed was a big investment and widely connected telecom infrastructure to bridge the gap, which they created. Just like Jio Patanjali also took plunge in the highly competitive FMCG market space with the same theory – User is the king and Price is the Queen.

5.Innovation is the key to Growth.

 Budding digital entrepreneur are going to be the main growth lever for driving the innovation for Jio platform. Reliance Jio has allocated funds to build Digital Entrepreneur hubs in selected cities and it plans to join hands with thousands of digital entrepreneur to allow their businesses to showcase on Jio Platform.

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