Guide to Building a Successful Brand | Riya Upreti | TEDxNITKkr | Riya Upreti | TEDxNITKkr

()

Building a Business

The speaker introduces the topic of building a business and shares that they will discuss strategies for success.
They emphasize the importance of having an obsession rather than just a passion for success.
The speaker shares their personal experience of feeling a desire for a better lifestyle while studying psychology in a private university.
They highlight the significance of following a specific framework or set of steps when building a business.
The speaker mentions that many successful entrepreneurs and business owners they have interviewed on their podcast follow a similar framework.
The speaker suggests that there is often a lot of debate about finding one's passion, but they believe that obsession is the key to real success.

The speaker appreciates TED as a powerful business platform that everyone wants to be associated with.
The goal is to create a brand like TED, where people feel accomplished by associating with it.
The speaker addresses common objections people have when starting a brand: lack of subscribers, money, and ideas.
She suggests starting with content creation to build an audience and establish trust, which can lead to increased sales.
Content creation has significantly increased sales for her brand.
Content creation is extremely important, even if it doesn't involve showing your face.
Content creation is a great way to start without any money.

Luck is not real, it's just when your preparation meets an opportunity.
If you're not prepared, you won't be able to take advantage of opportunities that come your way.
The speaker introduces the concept of the "Red Car Theory," which suggests that when attention is drawn to something specific, people start noticing it more frequently.
Opportunities are abundant, but people often fail to recognize them due to self-doubt and a belief in luck.
Luck is considered insignificant, and preparation is emphasized as the key to success.
The speaker shares their personal journey of overcoming self-doubt and achieving success through preparation.

The key to successful product sales in India is to identify and cater to the needs of the masses.
Products that are necessities, such as medicines for stomach pain, have a wider market reach compared to aspirational products like gut health supplements.
India is not yet a highly aspirational society, so it's important to focus on products that address immediate and essential needs.
Avoid creating products based solely on assumptions about solving various problems; ensure that the problems being addressed are genuine concerns for the target audience.
Indians are more likely to invest in products that fulfill their primary needs, and luxury items require significant capital investment, which is best undertaken after establishing multiple successful businesses.

USP (Unique Selling Proposition) has evolved into a "Unique Show-Off Proposition."
The goal is to create a perception of luxury and exclusivity, as seen in the example of Oreo biscuits.
Branding should be associated with a show-off element, like TED speakers who are show-offs in their own right.
Businesses need to evolve with time. For example, McDonald's removed the clown mascot due to its association with horror movies, which created fear among children.
Traditional businesses are declining because they are not modernizing, building an online presence, or evolving with the times.
Ching's, an Indian company, projects itself as a Chinese company because Indian consumers prefer Chinese flavors for certain dishes like Paneer Manchurian.
Miniso, a Chinese company, projects itself as a Japanese company because Chinese products often have a reputation for poor quality.
The projection of a business is crucial, even if it involves some level of deception.
Ching's and Miniso are not outright lying, but they are projecting an image that appeals to their target audience.
Projection can elevate a basic business by creating a luxurious feel.