Mr Animesh Jain on ‘Inflection points in work and business post the pandemic’
Institute of Management Technology, Nagpur had the privilege of hosting Mr Animesh Jain, an alumnus of batch 2010-12 and the director at RM group.
The following is an excerpt from the interview with him-
Q1) Please elaborate on rural marketing and how is it different from mass marketing?
Ans. From a rural marketing paradigm, the basic difference is mass marketing is not targeted marketing and it should appeal to the highest spread of people whereas when we talk of rural marketing, it primarily deals with how to touch base with the rural population. Even the rural population differs from state to state and within a state, so understanding the dynamics of that particular state or region, for example, Kerala’s rural environment would be very different from the one in West Bengal, even the spending capacity would also differ. For every single product, the campaign would need to be implemented differently, and that is where the basic concepts come in.
Q2) As a fourth-generation entrepreneur, how did an MBA help you in your business?
Ans. The opportunity to work with Asian Paints, post-MBA has been a great learning experience. Apart from that, an MBA gives one a set of frameworks that are learnt in a short span of time and it is upon one’s capability as to how one ends up implementing them in life. Our organisation, despite being a joint family business, has been professionalized because of the lessons learnt on organisational behaviour during MBA. It has further helped in understanding several corporate management terminologies. These are just a few of a plethora of lessons that been brought back.
Q3) What entails business simulation and what methods are used to make it as realistic as possible?
Ans. Business simulation is primarily where one is experimenting with different aspects of a business in a virtual world with real-life scenarios and is competing with others who are in the same space. It also needs one to have complete knowledge of the ecosystem so that one can create an algorithm wherein different people can come and compete on different aspects of business and learn more about the same. Simulations help one learn about the business without actually spending money and resources on the ground.
Q4) As the chairman of CII Bhopal zone, what potential business opportunities do you see with the digital revolution changing the modern business scenario in tier 2 and tier 3 cities?
Ans. There are multiple opportunities in tier 2 and 3 cities. Every city has got a different appetite for spending and in tier 2 and tier 3 cities, this appetite is going to increase further which will bring in business opportunities for capitalists who cannot invest in tier 1 or the metro cities. Thus, tier 2 and 3 cities are going to become the major drivers of growth since metros are overcrowded, overworked and their infrastructure is falling apart. Further, it is very difficult to achieve 100% growth for a Rs 1000 crore business, but it is easier to increase a Rs 1 crore business to 2 crores. Thus, there will be exponential growth in tier 2 and 3 cities.
Q5) What advice do you have for budding entrepreneurs from the college and what to avoid while setting up a business, post the pandemic?
Ans. One advice, do not run after valuations and funding. What one needs to understand is that a business should not be started to get funding, rather be sustainable. A cash burn business model is not the best business model in the world, so if one looks at the Dmart concept, it was never a cash burn business concept and accordingly, it is enjoying a great market Cap right now. So, one needs to be very agile while starting something, should not keep preconceived notions and should always be ready to switch to an alternate path.
Q6) With everything moving online, how was your experience interacting with the students of IMT Nagpur and what advice would you give to the students here?
Ans. I am happy that the students were interactive. One advice to tackle the virtual world would be, sit in a place that has got great bandwidth and always keep your cameras open and the other advice would be, don’t be afraid of the change, embrace it and evolve with it.