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innovation misc Opinion Product Management startup technology

Mobile Jewellery Shop – Lalithaa

Disclaimer: Most of what I talk about below – are my observations from Southern parts of India, and might not be applicable to Northern parts, which I am not very familiar with.

Lalithaa Jewellery seems to have introduced a mobile jewellery shop in the form of a modified long chassis bus. I think this is a darned good innovation. There used to be a time when the predominant way of doing jewellery was to go to a jewellers shop, where you discuss patterns, weight, wastage etc, and then the jeweller would custom make it for you.

Some of these jewellers in Tier 1 towns (such as NAC etc), who had access to capital and fast business movement, had ‘some’ ‘readymade’ stuff – things such as small silver tumblers, chains, rings etc – which are mostly impulse buys. In recent times, large box format stores (mostly chains which have large capital) have started making their presence (Malabar, Jos Alukas etc). These stores started off in Tier 1 cities, and now started slowly moving towards Tier 2 towns as well. Accessibility to ‘readymade jewels’ is significantly improved because of this. A ‘trip to the city’ is usually saved.

While accessibility is improved, it is not economical for these large format stores to go to every Tier2 and Tier3 towns. I think this is the market that Lalithaa is targeting. For some context, Lalithaa is one of those hybrid stores, which does some custom jewellery, but has predominantly large inventory of pre-made jewels. This bus looks to be a modified shell with a proper jewellery shop facade, counters, staff etc inside. The bus is now stationed in Theni (a Tier 2 town in the border of TN and Kerala), in a fair ground.

These large box stores do a ton of advertising on main stream cable/satellite TV – whose penetration in India has just exponentially risen in the last decade (next only to telecom). With the brand visibility already present, with the store coming to you, I think it is a novel technique to increase the reach.

Couple of feature-y things that come to mind –

a) Some rough schedule of the bus (perhaps a loop), so that folks in towns know when the next bus would be here next. Maybe even a call center or recorded info about the bus whereabouts.

b) Some form of demand capture – phone perhaps, (and in the long run through learning from data).

If this is successful (or not), I see this as a model that should be tried across other verticals too. Very interesting. #SolveForBharath

Categories
Management Product Management startup

Empathy and PMs

http://coachfogs.blogspot.in/

I have been thinking about this word for quite a bit of time these days. Whenever I am talking to folks and describing my definition of being a Product Manager – almost every trait distills down to this one word – Empathy.

Now, let me try and recollect and jot them down here –

  1. Stakeholder management – One of the key traits that I believe a PM should have. The cliche’ phrase of PM being the CEO of a product, imho loosely translates to this. Unless you are empathetic to the various parties (product, tech, marketing, operations, leadership, …), you will not be able to get them on to the same page. You need to empathetic to the tech team as to why they are resisting a decision ~ perhaps this would involve tossing out a lot of code that they just wrote; you need to understand how they feel. You need to be empathetic to the operations team ~ perhaps they are short staffed during a certain time and they cannot handle so many escalations. You need to feel this issue. And so on.
  2. Customer empathy – this is a given. A PM should be the biggest voice of the customer within the company. This might be a bit contrary to the first point, but customer empathy trumps empathy within the teams. You do not care if code needs to be rewritten, or more support staff needs to be hired, but if the customer experience is affected, it is unacceptable.
  3. Strategy Roadmapping  – this is empathy at a different plane. A product leader needs to sense the emotions of the founding/executive team and the investors (if any), to see what would deliver the best RoI for these stakeholders. Too aggressive a roadmap might seem awesome to the investors, but not to the leadership team, but too sluggish a roadmap might make the investors lose confidence. This is extremely important. This is in most cases unspoken and very subtle.
  4. Project Management – lets face it. This is a part of a Product Managers job ~ in varying degrees depending on the org. Good PMs exhibit a bias towards action(shipping) and make a dent here. While strategy/road-mapping is part of steering the ship, project management is choreographing the drum-beat of releases. You cannot do either of these without a deep sense of empathy to the executors.

And for those who are wondering if empathy is a key trait only for PMs, nope, check out Rand Fishkin’s blog where he says –

The best skill I’ve developed and the one that’s served me best as a founder, a CEO, and a marketer is empathy.

I offer coaching/training on PM empathy. If interested, please ping me on gcmouli at gmail.