During my business visit to Tirupur, the T-shirt Capital of the World, something caught my eye.
There were a row of eight cloth shops, all stacked right next to each other. In effect, each of them are competing with each other.
Commonsense states that it makes sense for these shops to be spread around so that each one holds it’s own. So, why then did they band together?
You see, there is a big business reason. Even though they are competitors, they help each other by giving the customers the promise of choice. That’s because customers always gravitate towards places where they have better choices. It makes their shopping experience so much better.
This explains why all the chandelier shops are on Mount Road near Anna Flyover and why all the Jewelry shops are in Panagal Park, T.nagar.
Podcast Interview with CK Kumaravel, CEO of Naturals Salon. How He Built India’s Largest Chain of Beauty Salons.
Imagine if, a decade ago, you started your first company. After showing initial signs of success, it suddenly tanks, dragging your property and savings with it. It leaves you with a staggering debt of ₹5 crore. What do you do next?
Well, if you were CK Kumaravel, you get up, dust yourself off, train your subconscious mind to think positively and create one of the largest chains of beauty salons in India! In this podcast, the CEO and co-founder of Naturals Salon talks about the failure, about how, despite studying in a Tamil-medium school, he made it a point to learn English because his father had once said “Business success and English are related”. He also shares other important business lessons. If you are an aspiring entrepreneur or a businessman, then you will benefit immensely from this podcast.
Received a copy of Sorav Jain’s new book on Social Media for Business. What I liked about it was the personalized covering letter that came along with it. It referenced a recent FB update that I made and ended with a personal note. This may not be scalable and time consuming but the right way to do it.
What a brilliant idea! As we were driving from Shimla to Chail, we had to cross a bridge over a small river. The one thing that caught our attention were a few tables laid out in the middle of the river. It turned out that a small time hotelier could not afford to get land to build a restaurant on the road side and instead chose the river to be his spot. The water was ice-cold but super refreshing during the afternoon. The biggest USP was the unique experience of dining on the river. He was doing wonderful business. Hats off to the guy.
I particularly loved this thatched roof setup. Most people preferred to bask in the sunlight though.
These guys were enjoying their whisky and truly chilling out.
View from the water level.