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Ajit Mohan & Ananth Narayanan advice to entrepreneurs & interprenuers to drive change and build businesses in the digital space. 

Ajit Mohan & Ananth Narayanan’s advice for entrepreneurs on building digital businesses | Ascent Conclave 2022

Ajit Mohan & Ananth Narayanan’s advice for entrepreneurs on building digital businesses

Ajit Mohan &amp; Ananth Narayanan advice to entrepreneurs &amp; interprenuers to drive change and build businesses in the digital space.

Entrepreneurs face the challenge of starting a business under the umbrella of a large, already successful established company. Ajit Mohan and Ananth Narayanan share their experiences at Hotstar and Myntra respectively to help guide them, at the Ascent Conclave 2022. This was part of their fireside chat 'Super Charging A Digital Future'. <a title="Ajit Mohan &amp; Ananth Narayanan On Super Charging A Digital Future | Ascent Conclave 2022" href="https://www.editorji.com/editorji-specials/ajit-mohan-ananth-narayanan-on-super-charging-a-digital-future-ascent-conclave-2022-1669319203815" target="_blank" rel="nofollow noopener">Watch the full conversation here. </a>
Ajit Mohan recalled the challenges he faces when he was setting up Hotstar under the auspices of Star India which was the largest media company. &lsquo;The task that the team and I had was to build a business, that, if it was successful, was going to challenge the core television business,&rsquo; he said.&nbsp; Recalling his journey at Myntra, which was set up as part of the larger Flipkart ecosystem, Ananth Narayanan said, &lsquo;I think what worked a lot in terms of the Myntra journey, at least in terms of the larger Flipkart ecosystem, was keeping the cultures quite different because I think we were trying to serve different consumer needs.&rsquo;
Narayanan further explained the three main lessons he learned when setting up a startup within a larger company. &lsquo;I think to have a dedicated set of resources, don't have shared resources. Second, proximity is not always a good thing. So, having a slightly different office, with a different feel makes a difference because culturally it's very different. And third, and perhaps most logical but important, is to get alignment to say this is something I'm going to drive over the next two-three years, and here are the things that I cannot cross, maybe compliance, you're always going to be this way, but here are some rules that I can break. And getting that alignment from either the CEO or the board, I think is important.&rsquo;
Ajit Mohan adding to that said, &lsquo;one of my learnings from that (setting up Hotstar) experience was, to know when to fight, and to know when to look for allies. If you're in the context of an established company that believes it has its own playbook for success, you need to have conviction about what are the places where you need to be different, and where you need to challenge the incumbent. And that incumbent may be the business model, the incumbent may be your friends in the larger company, in the mothership. You need to know when that needs to be challenged and when you need to be stubborn about that challenge when you will not negotiate. But you also need to know when is the moment when you need to have allies who will help you move the agenda forward. Because in many ways creating disruption in the context of a very successful, established incumbent, can only happen if you can balance the two.&rsquo;
&lsquo;Because the company needs that disruption to work, but the company also needs the incumbent to work for as long as it can. And when you don't get the balance right is when, either the new idea doesn't take off at all, or you bet so much on the new idea that there isn't enough all to propel the new idea forward. That tradeoff is one thing that I would think is important,&rsquo; he further added.&nbsp;
Also read: <a title="In the last 6 years, even China hasn't seen the kind of internet access growth India has: Ajit Mohan" href="https://www.editorji.com/editorji-specials/in-the-last-6-years-even-china-hasn-t-seen-the-kind-of-internet-access-growth-india-has-ajit-mohan-1669626516369" target="_blank" rel="nofollow noopener">In the last 6 years, even China hasn't seen the kind of internet access growth India has: Ajit Mohan</a> Also read: <a title="India&rsquo;s digital landscape reflects the country&rsquo;s complex demographic: Ajit Mohan &amp; Ananth Narayanan" href="https://www.editorji.com/editorji-specials/india-s-digital-landscape-reflects-the-country-s-complex-demographic-ajit-mohan-ananth-narayanan-1669631975078" target="_blank" rel="nofollow noopener">India&rsquo;s digital landscape reflects the country&rsquo;s complex demographic: Ajit Mohan &amp; Ananth Narayanan</a> Editorji was the exclusive media partner for this panel discussion at this Ascent Conclave 2022.

Ajit Mohan & Ananth Narayanan discuss the digital landscape and how it reflects the complex demographic of India at the Ascent Conclave 2022. They also talk about how it enables mass personalisation for brands. 

India’s digital landscape reflects the country’s complex demographic: Ajit Mohan & Ananth Narayanan | Ascent Conclave 2022

India’s digital landscape reflects the country’s complex demographic: Ajit Mohan & Ananth Narayanan

Ajit Mohan &amp; Ananth Narayanan discuss the digital landscape and how it reflects the complex demographic of India at the Ascent Conclave 2022. They also talk about how it enables mass personalisation for brands.

The change in India&rsquo;s digital landscape reflects the complexity of the country, Ajit Mohan, former Meta India head said at the Ascent Conclave 2022.
Ajit Mohan and Ananth Narayanan, founder, Mensa Brands, discussed <a title="Ajit Mohan &amp; Ananth Narayanan On Super Charging A Digital Future | Ascent Conclave 2022" href="https://www.editorji.com/editorji-specials/ajit-mohan-ananth-narayanan-on-super-charging-a-digital-future-ascent-conclave-2022-1669319203815" target="_blank" rel="nofollow noopener">'Super Charging A Digital Future' in a fireside chat at the Ascent Conclave 2022</a> held in Mumbai on 24 November. They spoke about how the changing landscape of India's digital audience cuts across states, languages, cultures, and religions. They also advised the entrepreneurs and interpreneurs on starting digital businesses and how to deploy the available capital smartly, to enable consistent growth.
&lsquo;If you look at the 800 million people online, you know that it is all of India. It cuts across states and therefore it cuts across languages. It cuts across different degrees of urbanization, and income classes. So, all of the differences that were there in the real world are showing up here as well,&rsquo; said Ajit Mohan. &lsquo;I think there are multiple Indias for sure,&rsquo; added Ananth Narayanan.
Mohan and Narayanan further discussed the young demographics of our country and how it is reflected in people's willingness to embrace new things. &lsquo;Think when you have a product or a format that hits the bull's eye, you don't get friction from people resisting adopting something new that is different from how they've done it before. Whether that is how they discover a product, whether that's how they get in touch with a doctor,&rsquo; Ajit Mohan said.
Mohan said that this phenomenon is because the average age of our country is 26, &lsquo;if you look at the aging curve, we get younger for a few more years before we start aging, which is quite different from almost every country in the world.&rsquo;
Mohan further spoke about how this also enabled the massive explosion of the usage of the messaging platform WhatsApp in the last two or three years. &lsquo;I think what's interesting is, the digital journey allows you to segment better, to target better, and to deal with them in a more personalized manner, whether it's through WhatsApp... But it allows you mass personalisation, which was not possible before,&rsquo; added Narayanan.
Mohan maintained that the younger demographics are a big advantage for the growing digital landscape of India but, &lsquo;some of the old stuff continues to remain relevant.&rsquo; &lsquo;I think it's a country that is growing fast, but it's still a country with a lot of disparity in income. So, the classic cliche about you having to get the value equation right continues to be true, I think, even in this new world. But digital is playing a huge role, and that hasn't changed. So, I think it's as complex as the country is,&rsquo; he said.
Ananth Narayanan agreed and shared how this has changed the way brands have to think about inventory and product assortment. &lsquo;It's a very interesting opportunity to actually build products that create real value for consumers and being able to personalize both the shopping experience and the assortment for each customer.&rsquo;
Also read: <a title="In the last 6 years, even China hasn't seen the kind of internet access growth India has: Ajit Mohan" href="https://www.editorji.com/editorji-specials/in-the-last-6-years-even-china-hasn-t-seen-the-kind-of-internet-access-growth-india-has-ajit-mohan-1669626516369" target="_blank" rel="nofollow noopener">In the last 6 years, even China hasn't seen the kind of internet access growth India has: Ajit Mohan</a>
Also read: <a title="Ajit Mohan &amp; Ananth Narayanan&rsquo;s advice for entrepreneurs on building digital businesses" href="https://www.editorji.com/editorji-specials/ajit-mohan-ananth-narayanan-s-advice-for-entrepreneurs-on-building-digital-businesses-1669636754728" target="_blank" rel="nofollow noopener">Ajit Mohan &amp; Ananth Narayanan&rsquo;s advice for entrepreneurs on building digital businesses</a>
Editorji was the exclusive media partner for this panel discussion at this Ascent Conclave 2022.

Former Meta India’s Ajit Mohan & Mensa Brands’ Ananth Narayanan discuss the dramatic change in the size & scale of the Indian digital audience and building digital businesses at the Ascent Conclave 2022.

Ajit Mohan & Ananth Narayanan on Indian digital business landscape | Ascent Conclave 2022

Ajit Mohan and Ananth Narayanan discuss the dramatic change in the size and scale of the Indian digital audience seen in the last 6 years. They also spoke about how it’s a very exciting time to be building digital businesses, at the Ascent Conclave 2022.

In the last 6 years, even China hasn't seen the kind of internet access growth India has: Ajit Mohan

Ajit Mohan and Ananth Narayanan discuss the dramatic change in the size and scale of the Indian digital audience seen in the last 6 years. They also spoke about how it&rsquo;s a very exciting time to be building digital businesses, at the Ascent Conclave 2022.

The size and scale of the Indian digital audience, both video and digital consumers have seen a dramatic change in the last 6 years. 'You circle back about six years in 2016, there were only about 50 million people who had access to good quality internet in India that number today is well north of 800 million, and all of that has happened in the last six years,' Ajit Mohan, former Meta India head said at the Ascent Conclave 2022.&nbsp;
Ajit Mohan and Ananth Narayanan, founder, Mensa Brands, discussed <a href="https://www.editorji.com/editorji-specials/ajit-mohan-ananth-narayanan-on-super-charging-a-digital-future-ascent-conclave-2022-1669319203815" target="_blank" rel="nofollow noopener">'Super Charging A Digital Future' in a fireside chat at the Ascent Conclave 2022</a> held in Mumbai on 24 November. They spoke about the changing landscape of India's digital audience and businesses. They also spoke about scaling and building digital businesses in India. They also advised the entrepreneurs and interpreneurs on starting digital businesses and how to deploy the available capital smartly, to enable consistent growth.
Speaking on the expansion of internet access in the country, Ajit Mohan said, a lot of countries have not seen the pace of this transformation that India has seen. Not even China has seen this kind of dramatic expansion in access to the internet. In the last six years, you also have two years, where people were in many ways forced to sample a more digital way of living.
He further added, 'If you really think about it in terms of an economy where different versions of the lockdown happened, it was in many ways a forced introduction to a more digital way of living, and therefore the India that's emerged out of the pandemic, India in 2022, and looking at the next decade, looks dramatically different.' Ananth Narayanan agreeing with Mohan added more facts to the conversation, 'if you look at online retail, all of the e-commerce in India today, is sub 10% of the total retail market, 8-9%. In China, that number is north of 20%, and the same is true in the U.S. The reason this is important is that we haven't seen anything yet. I think the next ten years will be sort of the best years for building out businesses digitally... I think Flipkart, Amazon, etc. are large businesses, but not really, not if you consider the size of the market, in terms of revenues or consumers.'
Ajit Mohan went on to explain how he feels that companies and entrepreneurs have not fully imbibed how dramatic this change is. 'They haven't understood the depth of this in terms of how this changed how people behave, how people discover things, how people shop for things because that 50 to 800 million people expansion in access has happened very quickly,' he said.
'If you're really ambitious, you're solving for 100 million people. You're not solving for 800 million people. And, that tells you the scale of the opportunity that is there, in any business that you're in. If you really think about what's happened and start thinking about what it means to be in a country where 800 million people have access to good quality internet, and in many ways over the last couple of years have already been introduced to a more digital way of living. And, then project this over the next ten years, imagine all of the different ways in which change will happen to how we conduct commerce, how we choose health providers, and how we get educated. We are really at the beginning of that journey, but that foundation is already in place,' he added.&nbsp;
Ananth Narayanan also shared his experience when he started Myntra in 2015. He said that from the first time a consumer came online to the point where they actually bought an article of fashion, the period was 18 months. And, today since consumers are more comfortable with online purchases that number has come down to six months. 'So now every new customer, every hundred million that you add to the Internet, starts doing business online, much much quicker and that transforms that ability to accelerate,' he said.
Adding to the changing digital landscape of India, Narayanan spoke about the other things where he's seen a shift including physical infrastructure. He spoke about how difficult it used to be to reach 26,000 pincodes in India earlier due to poor infrastructure. 'Now with the logistics and supply chain infrastructure that Amazon, Flipkart, Myntra, Nykaa have all built, you know, for a call it ₹140, you can reach any pincode in India with any product in three days,' he said.
Narayanan added, 'I think in the next ten years, massive businesses would get built on the digital infrastructure that exists, whether that's the consumers, whether that's UPI, or whether that's the physical infrastructure that gets sort of built around it. And, I think in the next ten years we'll see massive digital businesses get built, at a scale that we haven't seen yet. So, I think it's a very exciting time to be building digital businesses in India.'
Also read: <a title="India&rsquo;s digital landscape reflects the country&rsquo;s complex demographic: Ajit Mohan &amp; Ananth Narayanan" href="https://www.editorji.com/editorji-specials/india-s-digital-landscape-reflects-the-country-s-complex-demographic-ajit-mohan-ananth-narayanan-1669631975078" target="_blank" rel="nofollow noopener">India&rsquo;s digital landscape reflects the country&rsquo;s complex demographic: Ajit Mohan &amp; Ananth Narayanan</a>
Also read: <a title="Ajit Mohan &amp; Ananth Narayanan&rsquo;s advice for entrepreneurs on building digital businesses" href="https://www.editorji.com/editorji-specials/ajit-mohan-ananth-narayanan-s-advice-for-entrepreneurs-on-building-digital-businesses-1669636754728" target="_blank" rel="nofollow noopener">Ajit Mohan &amp; Ananth Narayanan&rsquo;s advice for entrepreneurs on building digital businesses</a>
Editorji was the exclusive media partner for this panel discussion at this Ascent Conclave 2022.&nbsp;

How will digital businesses function with AI, Automation? Will augmented & mixed-reality enhancements become more useful for people? Ajit Mohan speaks with Mensa Brands’ Ananth Narayanan at the Ascent Conclave 2022. 

Ajit Mohan & Ananth Narayanan On Digital Businesses & Future At Ascent Conclave 2022

What is the future of work? How will digital businesses function with the likes of AI, automation, and Metaverse? Will augmented and mixed-reality enhancements become more useful in people’s daily lives? Ajit Mohan and Mensa Brands' Ananth Narayanan discuss at the Ascent Conclave 2022.

Ajit Mohan & Ananth Narayanan On Super Charging A Digital Future | Ascent Conclave 2022

What is the future of work? How will digital businesses function with the likes of AI &amp; automation? Will augmented &amp; mixed-reality enhancements become more useful to people? Ajit Mohan and Mensa Brands' Ananth Narayanan discuss at the Ascent Conclave 2022.

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