“Boost the secret of our energy” so goes the slogan of a popular TV commercial. Any guess on what contributes the business’s energy? Namit Bajoria’s story tells it is the smart pivot.
Starting off in 1994, with just about rupees one lakh in hand, Bajoria now owns a brand that generates a revenue of Rs.300 crores annually. Business pivot worked wonders for him!!
Doing business was following the family’s foot prints for Bajoria. But what made him different was his flair for business pivot. Let’s look at the trail through years:
- 1994: Photocopying agency.
- 1999: Vacuum cleaning business.
- 2000: Kitchen chimneys
- 2003: All-in-one modular kitchen solutions.
|Pivot Prompts||Bajoria’s Take|
|Changes in Market Trend||Shut down photocopying business.|
|Fall in Profitability||Closed down vacuum cleaner business.|
|Market Opportunity||Started kitchen chimney business as there was opportunity |
for chimneys that went with greasy smoke of India cooking
|Consumer Demand||Chimneys with auto cleaning filters were introduced.|
|Social Cause||Shifted from import model to make in India to suit |
|Consumer Convenience||Proposed all- in-one modular kitchen solutions that integrated |
all the required kitchen appliances
A pivot is altering the direction of a business to make it more market oriented. To get more insights on business strategies, check our program @https://online.ifheindia.org/
Is pivoting an effective strategy for new direction a last-ditch effort for survival? Why?
Source Article Palak Agarwal- This Kolkata entrepreneur built a Rs 300 Cr kitchen solutions business from a Rs 1 lakh investment, SMB Story-October 13,2021