Thread by @AnandableAnand

Every new broker in town tries to copy #zerodha.

Looks easy to copy

Similar UI, same brokerage per order, cool funny iconic founders, targeting social media influencers

But zerodha did few things in Initial years which imho is missing

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1. Word of mouth publicity by genuinely being blown away from product and literary forcing friends and family to at least try this new broker, not seen even 1% for any other broker since

2. No marketing, advertising budget, which forced zerodha to aquire customer organically

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And forced zerodha to have amazing product worth word of mouth from day one

3. Having very active, visible CEO, nithin used to answer thousands of repetitive questions on various forums like traderji dot com. He is/was very pro and friendly to traders even smallest traders

4. Trying to help small loss making traders by various measures like zerodha university etc.

On the contrary I see new brokers now are VC funded and totally focused on new customer acquisition by big events, roping influencers creating buzz

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All that was good if people on the ground were using the new broker and also recommending strongly to their friends and family to at least try, not because of some coupon code but because how awesome new product or feature is. That is missing.

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Unlike popular perception, broking is a leveraged, highly regulated business, extremely risky too. Most brokers don't make good money,

So it's important to get this right from the very beginning.

U can't change your culture/strategy after acquiring million customers.

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As if initial customers are not happy from day one, so happy that they are talking abt ur product all the time,

They are not going to come back to u again.

If you like this thread then pls go back and Retweet first tweet of the thread

😊😊😊

https://twitter.com/AnandableAnand/status/1554495886687801345?t=DofTwOOwG9o70NaiZSbe1Q&s=19