Dreams take a lot of hard work to turn into reality. But raising the bar of your customers’ expectations by constant innovation is essential to be more successful. A company starts with a small dream, but it keeps treading on the path of success only by surprising its competitors and customers with new products and services.
Here are such Indian startup stories that prove innovation is necessary to be more successful:
1. Zomato
Started by Deepinder Goyal and Pankaj Chaddah in 2008, Zomato was initially known as Foodiebay. In the starting years, it functioned as a website that posted hundreds of restaurant menus, reviews of eating joints and recommendations. Although they got a couple of investors for their business, they realized that in order to grow and succeed in the category, they have to go beyond food and diversify themselves into other food-related avenues like nightlife, pubs, and events. That’s when Foodiebay became Zomato.
Since then, Zomato has been in the news for one innovation or the other. The way they have integrated food with technology is incredible.
Image Source: The Tech Bulletin
2. Flipkart
What started with Sachin and Binny Bansal selling bookmarks outside Gangaram Book Stores on Church Street Bangalore has turned into one of India’s leading e-commerce websites that sells much more than merely books. Since they had a tough competition from well-established players like Amazon, Sachin knew that what he was doing was ridiculous. But the idea of setting up Flipkart was backed up by the fact that their competitors lacked quality service. Encashing on its competitors’ shortcoming, Flipkart made its primary aim to focus on providing the best customer service possible.
Flipkart has made the most of growing e-commerce in India with its innovative strategies like tying up with Motorola for the exclusive launch of Moto G on their website. Adding to their winning streak, the whole stock of 20000 Xiaomi M3 phones got exhausted in five seconds. This is the power of innovation and the reason for Flipkart’s success.
Image Source: BGR
3. InMobi
Often referred to as India’s most innovative company, InMobi was started as an SMS-based search platform called mKhoj in 2007. Since their chat application didn’t get much traction, they decided to diversify their services and rebranded to InMobi to establish a better connect with their international audience. They also received fundings from some renowned global venture capital firms and that gave them the confidence to expand rapidly. Although they faced a significant roadblock in 2012, when they hired more than required employees with the aim of growing fastly. It resulted in a lot of chaos as people had overlapping responsibilities. This was when InMobi used some of the most disruptive and bizarre ways of hiring, retaining, engaging and rewarding its employees.
Getting inspired by the HR policies of Google and Facebook, they started treating their employees in the best way possible, giving them a lot of perks and benefits. Since they were treated so well, the employees took it upon themselves to help InMobi reach new heights.
The results started showing in their company’s growth curve. Their innovative techniques to keep their employees happy led to a massive increase in their productivity and, as a result, InMobi, today, is one of the largest mobile ad networks in China.
Image Source: Know Startup
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