Feeling a bit discouraged by the title? Well, it was not meant to demotivate you, but every once in a while, every ambitious person who wants to make a mark in the market, needs a reality check.
As you may know, 90 percent of businesses fail within the first 5 years, and we are here to help you not only be a part of the 10 percent that survive, but be a part of the 1 percent who thrive. What makes us worthy of giving advice? We have been leading our industry for over 70 years!
Before we start, here is a bit of our background. Purshotam Company Private Limited was founded in 1946. Though, it was before independence, we believed in the potential of India, and we were sure that India would create its own identity in the world. We quickly understood that our independence was imminent, and the manufacturing sector was going to be the focus in the nation-building years.
We realized that marking fulfils an important need of the manufacturing industry – namely identification and traceability of mass-produced components. By offering an optimum marking solution to our customers, integrating the marking machine with production lines, and automating the marking process; we were able to enhance shop-floor productivity for all our customers. Thus started another important mission for us; to enhance productivity. We have gone on to offer automation solutions to customers to further this mission, and we continue to look for ways to enhance productivity on the shop-floor.
We focussed on marking machine solutions, shop floor automation, autoloader gantry solutions, and gauging solutions. While we develop, design and manufacture auto-loaders and gantries, we became more popular across India for providing marking solutions. In 2003 we tied up with SIC Marking, France for their Metal Marking Machines for identification and traceability. We introduced its products to the Indian market by setting up sales and service centres in 14 industrial cities and towns of India.
In 2015, the company proudly became the largest distributor for SIC marking machines worldwide.In 2016 the company opened its own unit for automation, and to manufacture autoloaders in Pune.Currently the total strength is 70 people and we are growing continuously.
Today, when businesses do not last for more than a few years, our company is in exsistence since 1946 and has grown exponentially. This proves our competence. Now, do you want to know why we were able to continue growing?
Product Market Fit
It is very important to create a product which the market needs. Purshotamoffers a wide variety of product marking, traceability, autoloader and automation solutions; using the latest Column Mounted marking machine, integrated marking, portable marking, and laser marking technologies. These products are widely used in the Automobile, Engineering, defence, Aerospace, Oil & Gas,electrical equipment, construction, metal profiles, and many other industries.
Most companies provide things which they want to sell not the products that the customer wants to buy. Understand your market’s needs and then create a product, do not create a product and force it on your customers. You may develop the best underwater football, but how many people want to play football underwater?
Understand your market, and make sure that the product fits it.
Focus on Solving a Problem
At Purshotam, we solve the problem of identifying and tracing mass-produced components. Which problem do you solve? Very few people evaluate their business idea because they are emotionally attached to it. Before you proceed with your business, ask yourself one simple question, are you helping other people?
The word “other” is extremely important here. Your idea, product, or service should solve a problem for someone else. It should be a solution. If you can solve a problem which affects 10 people, you will have 10 customers, if you can solve a problem of a million people, you will have a million customers!
Understanding the Business
We have the best products, but that is not enough. We need to have a strong team of employees who are capable of making sure that our products deliver. We need a capable and visionary management which can not only handle the economics of our business but also foresee the future of our industry and guide us in the right direction. We need the right support to market our offerings and introduce us to the new generation of our potential customers.
You must understand, having an idea is just the beginning! A great product does not guarantee a market all the time. You must be able to deliver on your promises and meet the expectations of your client repeatedly, while ensuring that your company is profitable. You need the right balance to sustain your success.
Be Open to Change
Purshotam was able to keep up with the changing market. We were able to learn quickly and adapt immediately when compared to our competition and this helped us perform better. In the context of marking, we estimate that the future would need an integrated laser type mark and check system, with a compact and low-cost vision hardware; operating along with robots and a complex system of clamping devices, sensors, and actuators, and knowing this allows us to innovate more and be ready for the change.
The most successful businesses embrace change and adjust themselves accordingly rather than fighting it. You need to upgrade your products and services with the changing times and make it more convenient for your client to use your offerings and do business with you.
The easiest path to success is following those who have already marched on it. These are just few of our insights, there are many more to share. Why don’t you reach out to us? We will be happy to help you learn. Leverage our experience to your advantage. Partner with Purshotam and create a business that succeeds!
For more information on Purshotam, our products and our offerings, contact us immediately!
