Last week I attended a very invigorating session by Venkatesh Iyer (Venky as he is fondly called) of Goli Vada Pav organized by TiE. While the session title was “My Story to Entrepreneurship”, the actual session was much more than that.
The passion with which Venky spoke demonstrated how much can be achieved if you just have true belief in the idea about which you truly passionate. Venky spoke about entrepreneurship, beliefs, passion and marketing.
After thoroughly enjoying the interactive talk, I jotted some key takeaways.
Thought these would be really valuable for those who are passionate about some idea and want to make it big - because Goli’s story is all about that:
1. Premium Sells: Before Goli Vada Pav, people were used to eating vada pav at much lesser cost than what Goli charges it. Goli charges premium for the quality it provides – the quality is in the menu, the ambience, the service and everything. Once the consumers see the quality, they are ready to pay premium for that. Be convinced about the quality you provide and you won’t ever have to ‘justify’ high price.
2. Don’t give up on the idea: Goli failed twice, with the same idea, for different reasons. But Venky and his team did not give up on the idea thinking that it is not working out. Only when you believe in an idea, you can sustain multiple failures and never blame the idea. You look out for the solutions which will actually solve the problems.
3. Keep it simple: Complex things might sound good in books but keep things simple when it comes to actual implementation. This applies to everything – right from talent acquisition, training, franchisee setup, branding, promotion – just about everything !
4. Effective branding and promotion only requires currency of creativity: Venky narrated some incidences about how he used railway announcement system or TiE event for branding and promotion of Goli. None of these were paid. All these just needed the currency of creativity. Venky’s blog also is an excellent piece of writing demonstrating how a very creatively written blog can attract attention of the right crowd.
5. Piggybacking works: Goli used the technique piggybacking very effectively – Be it the usage of brand (as Venky calls it) of Vada Pav or the famous dialogue of movie Sholay (toh aaj goli kha…) or in the franchisees setup.
I left the room with a mixed feeling of inspiration, awe and respect for passion and with a definite plan to visit Goli Vada Pav center – more for experiencing the passion turned into reality.
Cheers to Goli !!