This is the ‘Win with Stories’ newsletter. It’s focused on helping founders and executives navigate leadership, sales, PR and fund-raising. Every week I send an email with a career or communication message wrapped in a short story. I also share one or a few actionable tips to help you achieve your career and business goals.
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What Rajiv Bajaj learnt from Hero Motorcorp’s victory
It was the 1990s and Bajaj was a comfortable leader in the two-wheeler segment with its scooters.
The company saw no need to disrupt its own product and offerings.
That is when Hero Honda, the erstwhile partnership between Hero Motorcorp and Japan’s Honda, launched the 100cc Splendor. One of the taglines for the brand was ‘Fill it, Shut it, Forget it’.
It offered 50kmpl mileage which changed the game in the two-wheeler industry. Very soon, the Splendor became the national motorcycle of India – a middle-class-must-have, much like what Maruti 800 did to cars.
A young Rajiv Bajaj had been pushing for change at Bajaj Auto, and he wanted the company to focus on motorbikes and give up on scooters.
Bajaj did eventually create a motorbike that revolutionized the Indian motorbiking industry. The motorbike was called The Pulsar and it was launched in 150 and 180cc variants in late 2001.
But by this time Hero was the market leader and miles ahead of Bajaj Auto. Since then the top spot in the Indian two-wheeler market has always been out of Bajaj’s reach.
Rajiv Bajaj repeats that he learnt a vital lesson from this that he swears by.
The lesson is that ‘the cost of being late is higher than the cost of being wrong’.
That’s why in the wake of the EV revolution, Bajaj is making a big bet on the all-electric Chetak. Bajaj says whether EV is the future or not is yet to be seen, but he’d still go all-in because – ‘the cost of being late is higher than the cost of being wrong’.
One communication tip for today:
Business leaders need to be good storytellers because their teams and organisations look up to them for knowledge, insights and even history.
That’s why in my coaching and training I tell leaders that creating and narrating stories is not a job that can be outsourced. A leader needs to take it head on.
However, there is something else as important as narrating stories.
And that is, learning from them.
One of the traits that makes Rajiv Bajaj a great leader is his ability to reflect on experiences and derive crystal clear lessons from them.
So reflect on your life, business and career stories and understand what you are learning from them.
More than anyone else, it’s useful for you.
Hope this helps.
A quick reminder on how I can help you:
- If you are a business leader or a founder of a mature startup wanting to sharpen your story, storytelling and leadership skills or even a speech or presentation, then I can help. My coaching programs like ‘Story-flection’, ‘Ace Linkedin with Stories’ and ‘Inspiring Leader’ have helped CXOs and senior executives power their growth. The first 30-minute call is on me, write to me if you’d like to book my time
- If you are a corporate, MSME or late-stage startup looking to enhance leadership, communication, marketing and sales skills in your organisation, then I can help. My signature programs like ‘Lead with Stories’, ‘Movie-like Data Presentations’ and ‘Story punch for marketing and sales’ have helped many corporates and agencies multiply their success
- I am also available for keynotes, webinars and team-building sessions that incorporate storytelling.
That’s it from me today. Hope you found this newsletter useful 🙂
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