Raj Nair, Chairman of Avalon Consulting, participated in a power-packed ASCENT Huddle session on business expansion, engaging in a discussion with Ankit Mehta, ASCENTer and CEO of ideaForge, and Harsh Mariwala, Chairman of Marico Limited and ASCENT founder.
Here are some key takeaways from their engaging discussion:
- Market Size vs. Market Share: Raj Nair emphasized the importance of focusing on expanding the overall market size of the industry, rather than solely striving for a larger share of the existing market.
- Organic Expansion over Acquisition: The panel emphasized that organic expansion through internal development and innovation is more critical than growth through acquisitions. Acquiring a strong company with potential for sustained growth is key.
- Family Businesses and Professionalism: Harsh Mariwala highlighted the significance of professionalizing family-owned businesses. Equal opportunities, education, and exposure are vital for family members to contribute to the company’s exponential growth.
