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Do marketers need to worry about job losses in AI dominated future ? (Part 1)

The age of AI driven automation is well and truly upon us. Pizza Hut is experimenting with robots called Pepper and virtual assistants like Siri and Alexa are a reality now.
According to Pizza Hut the experiment with Pepper will not only make the customer service faster and more efficient but will also make it easier for people to customize their orders. The company expects a reduction in customers’ wait time for orders and far superior and personalized user experience. This does indeed represent a threat to the first line of marketing personnel.
Although it is equally true, that Pepper has not been so successful outside Japan, where it is sometimes available at hotel lobbies as a virtual concierge and was actually fired from a Scottish grocery for less than satisfactory performance! But this can be seen as a step in the learning curve for AI controlled robotics and as we all know that this learning curve is indeed quite sharp.
Marketeers are confused as to how to react to the implicati…
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Why some experienced professionals thrive in a startup environment while others fail ?

Startups have been the flavor for the last many years. No field has been left untouched by the startup revolution with successful startups popping regularly over the horizon. Working in a startup is something of a medal that most new age professionals want to have on their CV. But the craze for startups is not limited to young and enterprising, even experienced professionals with secure high paying jobs are pulled in by the glamour of startups and quit their cushy jobs to work with startups full of energy, enthusiasm, vigor, non-hierarchical setups that is adventurous and lets you work according to your style and preference with no pre-set job plans. But then why is it that many experienced and highly skilled professionals fail to shine on crossing over to a startup while others who have jumped on to the startup bandwagon thrive and excel in their roles even there?
Here are the factors that determine your success or failure on joining a startup?
ØRisk-taking appetite People who excel wor…

How to make great marketing moves with little money?

One of the most precarious and overwhelming challenges faced by startups and small businesses is to remain cash positive. After all, you have set up the business with an aim to grow as quickly as possible. But the difficult balancing act between growth needs vs various recurring costs like salaries, infrastructure cost,operational costs etc builds itself up into a vicious cycle with paucity of cash staring at you on every turn.
Breaking the vicious cycle
Most businesses try to break this cycle by cutting down on expenditure on activities and areas that seems wasteful like marketing and advertising. But this course of action leads to even more pain for the companies as cutting down on marketing spend results in business growth getting stifled leading to less revenue and consequently more budget cuts. This scenario need not be repeated in your business as you can break this vicious cycle by doing a bit of judicious marketing. After all, it is not necessary that marketing should always cos…

4 long years of Painful yet Successful journey of "Outsourced CMO"

It has been 4 long years since I made the life-changing yet the most difficult decision of my life, the decision of leaving a completely stable, well-paying job & the last one from the major business conglomerate of India ,to work on a completely unique, least known concept. The decision of leaving the well-paying job proved to be even more difficult, especially if you are the only earning member in the family, with retired parents and several mouths to feed, taking care of various loans stacking up, which is the true scenario in my case. Amidst all these, doubt and anxiety were at its peak as entrepreneurship appeared as an alien term after giving more than two decades to the corporate world. Self confidence and faith on the concept of "Outsourced CMO" was the only driving force to keep me motivated through the journey as I was confident that the concept of “Outsourced CMO" is the much-needed concept in the world of SME/ Startups, as it's an expensive business fo…

Patience is a business virtue even in this age of instant gratification

The age of instant gratification is truly upon us with every business laying the greatest emphasis on speed. One minute noodles, pizza home delivery in less than 30 minutes; grocery, cabs and food on demand etc are the in thing. 
Every entrepreneur and business prides itself on its marketing professionalism, speed, agility and the ability to serve its customers in the quickest turnaround time.Yet, there are certain aspects of business that take their own sweet time to fructify. And success is one of them.
·There is nothing called as instant success in business·Every success story hitting the headlines today has been crafted over years of toil, patience and perseverance.Success is neither overnight nor smooth.It has taken nearly 40 years for Apple to reach its predominant position that it is in today and even such an iconic company was just 90 days away from bankruptcy in 1997, as Jobs himself had said years later.

So every business has its own ups and downs. There is no straight line o…

Criticality of Emotional Intelligence for business success

Starting a business is very tough and time-consuming and most entrepreneurs would vouch for the fact that it is both physically and psychologically draining experience. Only the most motivated, goal-oriented and passionate people can succeed in their ventures and dare we say most successful entrepreneurs have a high level of Emotional Intelligence/ Quotient (EI / EQ). 



But what is the relation between business success and EI?  Does a person with higher Intelligent Quotient (IQ) but lower EQ stand a better chance at succeeding in business or will a person with a higher EQ more often than not score over a person with higher IQ but lower EQ.




According to Travis Bradberry, co-founder of TalentSmart and author of bestselling book "Emotional Intelligence 2.0"; there is a direct co-relation between EI and success in the workplace. In his research, Bradberry found high emotional intelligence among 90 per cent of top performers, but in only 20 percent of bottom performers. According to…

The world is heading towards shared economy , are you ready for it ?

What is the common thread that runs between Airbnb, Uber and Ola?  Well! All of them are shining examples of a shared economy which is based on access not on ownership. 
Shared economy is an idea whose time has come, driven by the internet revolution, the paucity of a resource vis a vis demand, high cost of a resource and digital economy which enables sharing of a highly coveted resource at an affordable cost that makes such sharing beneficial for all related parties.

It is not that shared economy deals with only the physical resources but it has been playing an important part in sharing of human resources too in the business domain. Looking at various C-suite expertise around the world we find that companies have been successfully sharing expert human resources for a long time. Outsourced Chief Training  Officers (CTOs)  have been in vogue for decades now. Businesses are also comfortable with the idea of working with outsourced Chief Financial Officers (CFOs).  So why this model can’t…