“OPPORTUNITY recognition and innovation are stronger determinants of success in tough economic periods as compared to periods of economic prosperity. If you are able to own the pace of race in such tough times then you can be very successful”, said Brij Sarda, Founder and Head, Medigrace Nagpur. He was addressing the online ‘Wisdom Hour’ on the topic of ‘Atypical Businesses’ organised by Vidarbha Management Association (VMA) on January 16. Quoting an example of Atypical business, Sarda said, that many people promoted ‘Ayurvedic Kadhas’ during these Covid times, but only those got successful who could present the Kadha as an essential part for gaining day to day immunity. Those who went a step further and delivered the Kadha at home or shared demo videos were even more successful. The idea is understanding the ‘super needs’ of consumers and making the solutions available in the form of a product or service in the most convenient way.

 

Here, the terms ‘super needs’ means the needs that are identified by the company or producer as futuristic or near present need of consumer, he said. Sarda further said, “If opportunities are captured during stressful times and they cater exactly to the needs of consumers then chances of sustenance are more. When you are presenting something that is not conventional or typical then scalability of the service or product needs to be checked.” “While doing so, your online presence will boost business and make it accessible. The scenarios across world are changing and there is flip in industries. Software was earlier a product but now is increasingly portrayed as a service.

 

Merchandise, subscriptions, franchises are in trend,” he pointed out. Many interesting examples of Atypical business ideas that are doing well were put forth by Sarda. Vidarbha Management Association is based at Nagpur and meets every Sunday at 10.30 am. VMA is dedicated to impart learning related to business management and leadership to its members. Vidarbha Management Association is a non-profit organisation and is currently in its 17th successful year of operation.