Disruption is coming in one or more ways in India and going Digital is the first step towards it. The Problem is not about how many people log on to your platform. The math is about how many people are digitally active. If people adopt digital because of one platform, they will sooner or later adopt others as well.
What do you learn from the success of Tiktok and Sharechat in India? The youth in villages and small towns are increasingly becoming content creators. This is a big trend since most of them who have tasted success will begin on their entrepreneurial journeys on various platforms. No one stops at one platform so they will graduate to Instagram, youtube and more. Future success trends are clear for Digital Business.
- New digital platforms will come and capture market
- Language is the key, It will be vernacular and Indian.
- Community building is the key to success for any platform.
Platform business for content creators will begin to grow. One of the very prominent signals for the new Digital platforms who are coming up in India is to go vernacular.
People who are content creators now will soon turn up as entrepreneurs and will begin exploring the platform and the challenges of the ecosystem in multiple ways. These people may come up with their own services riding on various SAAS, PAAS platform services, serving a local area initially and scaling up from the ground.
83% of the Indian workforce prefers to be entrepreneurs according to the one survey, 11% of the adult population in India is engaged in “early-stage entrepreneurial activities”, and yet only 5%of the country’s people go on to establish their own business, a survey has found. This is among the lowest rates in the world, while the business discontinuation rate in India is among the highest at 26.4 per cent. All because of the lack of funding.
All this is set to change with the new job category coming up which is Content creators on digital platforms
Jobs have been an issue with the Indian Government. There are concerns such as rising population, Relevant Education and skill building. All of which takes time. There are only a few jobs in the market and in the coming years, there will be a relentless push for the entrepreneurship by the government.
The effects may come in the next 5 years when educated fellows which will rely on the bootstrapping and government loans will begin to taste success and since the government will put emphasis on funding, a healthy ROI for any business will grow fast and scale faster. There will be more ventures coming on digital space as well, they will begin to disrupt in more ways than we can think now. This will not even come in the realm of VC funding who tend to look for IIT/IIM guys as the benchmark of success.
The new age digital disruption will come from a village and small towns. There will be people who will be leveraging the platform power to power the new age job titles.
These new age entrepreneurs will become Instagrammers, YouTubers, Tiktokers and more. They might explore or invent a new business model or move to platforms which are more profitable. They might digitise their own business on their own or various platforms.
A digital company will in return create more jobs for people who work on the platform. A platform is the reality of the new age business. An entrepreneur doesn’t need to have your own store, digital business but maybe his presence on multiple platforms.
Gear up for digital India. India who will work as an entrepreneur, remotely and digitally. India will create more jobs than ever and India which will leverage the power of platforms.
About the Author
This article was written by Chandan Mishra.