Creating a Successful SME

BusinesstoBusinessMarketing:Session3-4GuestSpeaker:Mr.PratikPashineMr. Pratik Pashinewas invited as the guest speaker for discussing “CreatingA SuccessfulSME”.Mr.Pashine,anIndianInstituteofManagementBangaloreAlumniiscurrentlyworkingwithTataTeleservicesLimited.HetalkedaboutthefollowingpointswhichwererelatedtoBusinessperspectiveofSMEs.

• The session was crafted well to cover important aspects for SME business. ThediscussionstartedoffwithhowSMEsarebeingclassifiedbeingbasedonnumberofemployees,turnoverorrevenue,buttheimportantfactoristherearealsocompanieslike watsapp which contradicts the numbers on basis of which SMEs are beingclassified. He also reflected on how there has been a shift in the ownership,demographics,influenceofemployeesinthenatureofbusinessforSMEs,wearenowdealingwithamuchyoungergenerationwhoarehandlingthecompanies.

• ChallengesonsellingproductstoSMEsmaybeparamountduetosheerROIduetosmallticketlargeexpectation,unstructureddecisionmaking,geographicaldispersionofbusiness.

• Howtheinformationwhichwasonlylimitedwhenanalyzinganycompetitor,productoranycompanyisavailabledigitally.

• As the companymoves from small tomedium to large how due to availability ofexpertisethecompanyisabletoevaluateanyproductinamuchbetterway.

• AnyRetailbusinessorLargebusinesscannotserveneedsbytweakingtheirproductswhichneedstobefulfilledbySMEsduetoSKUs,requirement,delivery,complexity,service,financing,expertise,obsolesceetc.

• Sincethecustomersarespreadgeographicallyinadiverselocationitisveryimportantfor SMEs to have a partner model which can address a considerable share ofcustomers.SMEssuccessdependsonhowthechannelpartnerarebeingmanaged.

• SMEs not only needs to understand and cater to the needs for partners but alsoprovidethemopportunitytogrowandmoveaheadwiththeirestablishments.

• Oneofthemajorpointdiscussedwastheacquisitionvsretentionofcustomer.

Therewerealsonumberofquestionsfromaudience.Overall ithasbeenagreat learning

curveofgettingtoknowbusinessandmarketingaboutSMEsindepth.