The Journey of Royal Enfield

Introduction

• Siddhartha Lal, CEO of Royal Enfield
• Reviving the century-old legacy of the company
• Today's topic: The success story of Royal Enfield

Company's Status

• Royal Enfield was on the verge of shutting down
• Siddhartha Lal made the company profitable
• Competing with companies like Harley
• Establishing its own brand in India

Primary Benefits

• Strong employee culture
• Honest and loyal customer base
• Financial support from Eicher

Strategies

• Not selling cheap; focus on premium products
• Adapting to consumer needs

Lesson 1: Adapting to Consumer Needs

• Siddhartha Lal traveling across India on a bike himself
• Focus on research and development
• Making changes based on customer behavior
• Identifying bike gear shift and starting issues

Lesson 2: Changing People's Perception

• Changing the perception of heavy bikes
• Raising awareness through advertisements and interviews
• Not changing as per business value

Key Aspect of Strategy

• Necessity of brand building
• Siddhartha Lal becoming the personal brand ambassador
• Strategies to build better relationships with customers

Consistency and Focus

• Change the approach rather than principles
• Focusing on marketing

Lesson 3: Slow but Steady Progress

• Example of the tortoise and the hare story
• Started in the 1990s and gradually increased
• 40% annual growth rate after 2010

Four Key Elements

1. Importance of distribution
2. Enhancing resale value
3. Building a sustainable community
4. Importance of post-purchase service

Conclusion

• Lessons from the success story of Royal Enfield
• Changing as per consumers' needs
• Importance of changing perception

Further Information

• Information about business coaching courses
• Exploring YouTube channels