confidence of one that has walked this journey .
Lesson # 2 : Asking for Help is ‘ OK ’
We now come to the second lesson , which seems obvious in retrospect , and was brought home when Rupen faced a difficult situation , a challenge he had never faced , which even caused him ‘ to doubt his trajectory ’. From this he learnt a profound lesson . That during difficult times and a leader has to make a decision but finds it tough to , it is ‘ ok ’, indeed , necessary , to seek help . ‘ I appreciate this does not come easily or naturally , but it ’ s judicious to do so ,’ he admits .
His view is that ‘ fear of being judged hinders many of us from seeking help . From the experience , I learnt that it is important for a leader to ensure they have a network of like-minded individuals , who are nonjudgemental thus giving one safe space to be vulnerable ’. In his case being a member of Entrepreneurs Organisation ( EO ), an international network of business leaders , has enabled him to grow as it provides ‘ a safe ’ space for soul-searching , and self-reflection . This makes it easier for the members to turn to each other when they hit a rough patch and any advice given is genuine as it ‘ comes from a good place ’
They also benefit from training sessions and round table business discussions . By consulting his networks , he was able to navigate the situation successfully and also came out with this important lesson , among others . Apart from fear , Rupen thinks that ego and hubris can also play a part in leaders not seeking help . ‘ These blind the leader into thinking they are the only ones with the right answers all the time . To overcome these calls for humility and appreciating that leadership is a great responsibility rather than privilege .’
He also notes that leadership can feel lonely at the top especially ‘ when things are looking down ’ but with self-belief , grit , and persistence , one can ride the waves . ‘ In addition , a leader should remain positive , optimistic and be the shining light to those around for challenges come with the territory ’ he says as a matter of fact .
Lesson # 3 : Seek ye the Sweet Spot
The third lesson is familiar to those in the field of marketing . In the early days as Rupen was refreshing and branding the home furniture store to Victoria HomeStore , his strategy was to gain market share as quickly as possible and thought that attracting as diverse a spectrum of customers as possible was the way to achieve this . To actualize this , he fell into two temptations . The first was offering a very broad range of furniture with a wide pricing strategy . The second was adding electronics , kitchenware , and home décor assuming this would be complementary to the furniture and therefore be convenient for the customer .
But this did not work as it stretched their resources thin and led to a lack of focus . ‘ By casting our net too wide and trying to be a jack of all trades we ended up being masters of none ’, he put it aptly . To overcome this , he keenly listened to the customers and on analysing the feedback , realised that his core clientele is the discerning middle to high end customers . He decided to focus solely on them cutting his range of furniture and pricing it accordingly and also got rid of the electronics , kitchenware , and home décor section , as it was a distraction from their core .
There are two lessons here . One is that of market segmentation and the other is product rationalisation . Rupen learnt that a business must clearly identify their market segment , what he calls ‘ the sweet spot ’ and focus their resources on serving them well .
The second one is that a business must not stray too far from their core offering , on which they have built their brand and what customers know them for . It dawned on him that straying too far means a steep learning curve and taking eyes off the ball , which does not augur well for the business .
Lesson # 4 : Find the Customer Catchment Area
Rupen then went on to mention two building blocks that contribute significantly to the success of retail business and from which I picked the last lessons . The first is identifying ‘ the customer catchment area ’ and locating one ’ s business there . The right location satisfies one of the key needs of today ’ s busy customer , that of convenience .
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The second Building Block is working hard to keep enhancing the customer journey , ensuring a ‘ frictionless buying process ’. Customers detest being taken through laborious elaborate steps . They yearn and reward simplicity , speed , and accuracy . This can be a differentiator allowing one to gain and retain market share .
As he was coming to a close , Rupen touched on the importance of continuously keeping an eye on the customer . This allows the business to understand not just their immediate wants , hence meet them at their point of need , but just as important , notice any subtle changes thus avoiding being caught unawares in the future .
His last salvo to leaders is that ‘ to become the best versions of themselves they should be perpetual students picking lessons from different sources not depending on their experiences alone as this can be limiting .’
The grandfather took the risk , had a vision . The next two generations continue the journey and through collaboration and innovation have seized opportunities and scaled the business to greater heights . Through it all they have been guided by the grandfather ’ s ‘ family first ’, North Star .
Robert Wamai is a trainer and advertising consultant , a passionate consumer advocate and believer in the power of brands . You can engage him on this or related matters via email at : wamairobert51 @ gmail . com