In Conversation With… Shankar M Shiv, Co-founder & Chief Revenue Officer, @the Idea Factory
Can you please help us know your professional background?
I cut my teeth in Yellow pages (Infomedia/ GetIT) and moved on to main line media companies (The Hindu, Times of India, Daily Thanthi & Vikatan) for 20 Years.
I have an extensive experience in building brands from scratch to brands to recon-with; also, with my clear brand focus, eyes on detail and RoI metrics, product management I became a go-to man for leading brand owners for their brand consultation. My expertise extends to develop exclusive marketing plans for the clients be it in traditional sales & using the modern media mix.
Can you please tell us about your venture ‘At The Idea Factory’ (@TIF)?
@the Idea Factory (@TIF) – a Media start-up, from Chennai bootstrapped by Shankar, Prakash & Sunder, friends in business, turned founders. The fundamentals of @the Idea Factory are very clear in the minds of the founders – leveraging our potential that’s been nourished over years and putting them into use for the deserving clients in terms of ideations, market expansions and brand communications leading to higher brand sales & ROI.
What role has technology played in the success of your venture?
When it comes to brand and media industry, traditional approach thumb rule is ABC (Audience – Brand – Content). Technology has played a huge role in re-aligning the market dynamics especially with the new normal approach. Digital space helped us to define the evolved audience need, understand their pulse and synergize their requirement through appropriate content.
What impact did covid-19 pandemic have on your business? What steps did you took to overcome it?
While others thought it was a tough phase during the pandemic. @TIF team saw a world of opportunity. Its a restart game for all, the smartest with complete different approach will survive was the new normal ground rule. We understood this theory at the very early stage and relined our-self according to the market requirement. We created CAB theory (Content – Audience – Brands), where-in content was the need of an hour and this space was less cluttered, especially in Tamil Nadu. Hence we created relevant Content that suits the best of Audience requirement and synergized brand message as solution for our set of clients. Which worked well and delivered desired results.
What is the best moment in your professional journey so far?
A lot of moments to highlight, but I personally consider my defining moment in professional journey is, when we signed our first deal without any big brands backup for @TIF. It always gives us high level confidence and motivation when we work for ourselves and sign a deal worth INR10 lakh, rather than working for someone else and signing a deal worth INR 1 crore. Its a feel that makes you more confident and responsible for the faith your client holds on you and signing a deal without any big brands backup.
How do you build an effective team to work along with you?
I strongly believe in young minds and interacting with them gives more scope for new thoughts and fresh ideas. A young energetic mind always take calculative risk with innovative approach and that’s what even the new market dynamics require. We strongly believe in break the rule theory and celebrate the work of team members. An happy work atmosphere gives you more energy to think out of the box ideas with clarity and quality. After all, @TIF is into generating unique ideas as business, hence we make sure people first policy is in place.
How do you motivate yourself to bounce back when faced with any failure or a setback?
Failure is a state of mind. We encourage our team try new ideas and even if they fail, we support them to recreate the same idea with different approach. More than failure, fear of failure will stop your growth pattern. We strongly believe in – the more number of failures will make you produce finest of the success story.
Hence, we have never considered failure as setback.
What is your success mantra? Please share your keys to success.
Think different, Act fast and Deliver your commitment on dotted lines is the key mantra for success.
*All views are that of the interviewee. UdyamGyan does not promote or endorse any claims.