It’s Time to Embark on Small Experiments, to Embrace Failure, and Bounce Back Stronger : Panel Discussion : : 8th Newbiz Business Conclave And Awards

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It’s Time to Embark on Small Experiments, to Embrace Failure, and Bounce Back Stronger : Panel Discussion : : 8th Newbiz Business Conclave And Awards

As a business community, we are often characterised by our optimism. We begin ventures with a sense of hope and possibility, navigating through challenging phases while maintaining our optimism. This enduring positivity is ingrained in the very DNA of the business community. In my view, the current situation is a culmination of our past mistakes and oversights. The escalation of land prices, volatility in the share market, erosion of value and the creation of disposable income during previous periods have all contributed to the predicament we find ourselves in today. The crucial inquiry is whether our missteps occurred earlier or if they are happening now. Is the current situation a consequence of past errors catching up with us? It suggests a need for recalibration. Isn't it time that we shifted our focus towards generating demand rather than solely concentrating on crafting policies and laws? 

The foremost step we at Nimbus took was acknowledging the existence of a problem. We then proceeded to analyse its root causes, identifying several key issues: over installation and overcapacity of the same products nationwide, an inefficient distribution system resulting in high costs of reaching consumers, and mis-utilisation of available working capital within the trade. First, we are prioritising the establishment of synergistic partnerships rather than duplicating efforts internally. Second, we are actively pursuing direct consumer engagement. Third, our innovation efforts are not centred solely on distribution, but also on enhancing select products to potentially address current market needs. I strongly believe it is an opportune moment to embark on small experiments, to fearlessly embrace failure and to bounce back stronger. Now is the perfect time for innovation and disruption to carve out a niche for ourselves amidst existing businesses. By daring to experiment and innovate, we not only discover new pathways to success but also contribute to the evolution of industries and markets. 

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