Why family-run entrepreneurs with over thirty years of experience adopt the change.

I have been working over three decades with family run businessmen and we cant challenge their gut feeling and their sense of understanding and doing the business. Since the last five years the world and specially the Indian entrepreneurs have witnessed the dynamic changes because of technology, Before just a decade nobody has visualized that they can rent a car in a few minutes! Food, furniture, groceries, books, apparels which will be delivered at your doorstep. One can share the pictures through WhatsApp or can pay online by paytm from any corner of India and a second!

Consumer behavior's, buying habits and patterns have evolved like never before. Today artificial intelligence and machine learning have directly or indirectly become part of our day to day life. In the next ten years we will be witnessing the designer birds, plants and even babies because of genetic engineering, space travel to mars and maybe beyond.

Not only the blend of information, education, technological expertise but the cultural values are also igniting the aspiration of the world’s largest youth ( average age is 30 years) populous country, India. India has about 50,000 startups in 2018; around 8,900–9,300 of these are technology led startups 1300 new tech startups were born in 2019 alone and even during the pandemic 39,114 startups emerged implying there are 2–3 tech startups born every day.
Which has started to bring the difference in every walk of life and so does the business.

Here it’s not doubting on the traditional methods of doing the business but the basic ingredients and elements of the doing businesses are changing. The family-run entrepreneurs must understand what problem they are trying to solve by their business solutions and plan their aspirations, business model and strategy, product innovation, pricing and importantly technology in alignment to sustain the consumers and market needs.