Page 185 - DNBI_A01.QXD

DEVELOPING NEW BUSINESS IDEAS162

With its strong Indian connotations, Cobra was preferred as the brand
name over the alternative of Panther. Bilimoria used his legal training to
protect the Cobra brand worldwide. He elected not to patent the brewing
recipe, on the grounds that protection was probably unenforceable and
that the brand’s strength would ultimately lie within its name.

The Cobra brand and product were capable of growth in a number of
ways – through attacking mainstream markets outside the Indian
restaurant market; through attacking additional global markets; by brewing
the beer in other countries, close to market; and by diversifying into other
product areas, such as wine, draught beer and lower-strength beer.

Bilimoria actively managed his business risk. When Cobra beer entered
a distribution arrangement with Maison Caurette, for example, the level
of ongoing debt which resulted was higher than Cobra could withstand if
things went wrong. Bilimoria’s decision to take out insurance to cover
the risk was vindicated some 12 months later when the newly merged
Ebury Caurette company went into liquidation. The £60,000 owed to
Cobra was fully covered by the insurance.

Bilimoria’s left-brain legal and accountancy training was
complemented by a right-brain vision of producing the first truly global
Indian beer. His whole-brain approach was evident in his assertion that
‘every area of your business has to be creative – even raising money’.

His massive personal commitment to the business led him to share a
cramped flat with his business partner and his new wife for what must
have seemed an eternity. Nor did he shirk from personally delivering
Cobra to London restaurants out of the back of ‘Albert’, his Citroen 2CV.
Again, he turned the experience to good effect, forging effective personal
relationships with the accounts on which he called.

The success of the ‘big one’ is demonstrated by Cobra’s recent
financial performance, with sales for 2004 exceeding £60 million in over
30 countries.

evaluation allows development, not just
selection The specific purpose of this third step of the idea

development process – the evaluation and selection of ideas – is to
winnow down the multiple ideas, perhaps between five and ten, which
you have brought forward from the previous steps into one single
leading idea whose implementation you will plan in the fourth step.