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Anand Srinivasan was engaged in IT sub-distribution. Now, he has turned to financial advising consultancy. He is also engaged in wealth advising and stock analysis in Tamil Nadu. Here he talks about his change of field.
What were your reasons for diversifying?
Anand Srinivasan - Online portals have transformed the traditional business now and I predicted the same long time earlier. In mid 2000s, I had slowly moved out of the channel business for three reasons -
- Margins had started shrinking
- Cost of the labour is increasing for both sales and services
- Enterprises had started reaching out to companies directly
How profitable is this alternative field vis-a-vis the IT partner work?
Anand Srinivasan - I had not jumped overnight. I had slowly transformed it from a large sub-distributor to servicing select customers. We run various YouTube channels on personal finance, having ‘Money Pechu’ (Money Speaks) as our flagship channel.
Where do you see their IT Partner work going in the next 5 years?
Anand Srinivasan - Channel partners need to redefine the business. There is no right costing across the markets and choices for consumers are increasing. I see many long timers had moved out of the business.
Even the large distributors are having issues in the industry. Recent days, we have been seeing many national distributors have slowly compiling together.
As new Smart techs are coming in, vendors are finding new ways to find their customers base. Although very large orders such as those required by large organisations are still served by distributors, smaller resellers are facing the threat of extinction. Instead of trying to resist this trend, which is only going to grow as ewer techs come into existence, partners should have an open mind towards expanding into new territories to cover their business stagnation and find new grounds of growth.
Would you like to further expand on their diversified field?
Anand Srinivasan - I would recommend they should try diversifying their businesses. Given the fact that the industry is not stable, I would highly recommend the traditional channel partners should diversify.
--By Swaminathan B