Engines of Growth in India

In the heart of Bangalore’s startup hub, amidst the blend of traditional values and modern aspirations, lies a latent powerful concept that resonates deeply with Indian entrepreneurs at an intuitive level — the Engines of Growth. My journey, from the days of Aurik to now, has been about understanding and applying these engines in the diverse and dynamic context of Indian business.

Eric Ries, in his pioneering work “The Lean Startup,” introduces three engines of growth: the Sticky Engine, the Viral Engine, and the Paid Engine. These aren’t just strategies; they are the lifeblood of a business, much like the water of the Kaveri, vital and life-sustaining.

1. The Sticky Engine: This is about customer retention. Just as your local chai wala has to ensure each cup of tea is consistently delightful to keep his customers returning, your business needs to focus on keeping customers engaged and loyal.

2. The Viral Engine: Here, growth is driven by customers themselves. Consider the story of an artisan from Jaipur whose unique jewelry designs went viral on social media. Each customer becomes a potential advocate for your brand, spreading the word far and wide.

3. The Paid Engine: This involves acquiring customers through paid channels. It’s like a billboard on the bustling streets of MG Road, attracting new customers through strategic investment.

Let’s consider an example close to home: Third Wave Coffee’s membership. By focusing on the Sticky Engine, they developed a wallet program and added a host of in-app gamified offers to encourage repeat purchases for anyone looking for a place to work in.

As Indian entrepreneurs, our journey is unique, colored by our rich heritage and entrepreneurial spirit. The Engines of Growth, when understood and applied within our context, can be the catalyst for sustainable growth and success. Remember, it’s not about choosing one engine over the other, but understanding which one aligns best with your business at any given time.