We like to solve complex problems. When we were hired employees, we solved problems where others refused, saved from mistakes leading to the abyss. This is how we earned experience and recognition. Over 3 years, 3 companies were created with our participation. While creating, we taught business unit managers to become entrepreneurs. This is how we understood the value of mentoring, realized our experience.
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A business plan is what any business starts with. It is the result of a huge amount of work, including an analysis of competitors' demand and supply, product development and promotion strategies, a description of work processes and personnel requirements, risk assessment and expected financial results.
Who are your potential buyers, how many of them are there, will they be able to afford your product and will they prefer your offer to competitors' products? And finally, how do you convey to them information about your offer and its advantages? Often, an entrepreneur who is passionate about his idea is unable to assess the market opportunities objectively.
A business strategy for a startup project is a step-by-step program of actions to bring your offer to the market. It is a management tool that allows you to determine the direction of movement, plan the use of resources, and evaluate the results of work.
When approaching a potential investor, you must present him with a document that will allow him to quickly but fully imagine the essence of your business idea, assess its prospects and risks – an investment memorandum.
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In our experience, it takes 3 to 6 months of joint work to obtain clear results.
Of course, there are exceptions when, based on the results of work, sales increase multiple times in the first month. As a rule, this is due to either the seasonality of the business. Less often - when an outside perspective helps entrepreneurs quickly find previously unnoticed errors.
Sustainable business development requires systematic work to determine the interrelations within the company, their digitalization, analysis, development of corrective and preventive measures. In some cases, the way out of a difficult situation is business process reengineering.
WE CAN BE USEFUL AT EVERY STAGE OF BUSINESS DEVELOPMENT
Market research and development of market entry strategy
Developing a business plan to attract investment
Developing a business model
Development of organizational structure and functional model
Development of standard business processes
Development of marketing policy and sales system
Building a management accounting system
Optimization of business processes
Development of a motivation system
Implementation of project management
Selection of software solutions and automation support
Corporate trainings
Implementation of strategic management
Business process audit
Development of a risk management system
Implementation of an internal training system (corporate university)
Implementation of competency-based management and personnel assessment
Improving the management and control system
Optimization of the wage fund
Support of business restructuring projects
Development of an anti-crisis strategy
Resolving conflicts between owners and other interested parties
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Chances are “you know your stuff” regarding the product you produce or the service you render.
However, all the other things that must occur in order for you to have a sustainable and profitable business can, and often should, be delegated to someone else – like a business consultant.
Finding the right consultant can make a world of difference in your business world!
Way too many! Many are IT specialists. Others are HR specialists. Yet others are marketing specialists. The key is to retain a business consultant who can knowledgeably help you with YOUR specific situation.
When you find one that understands “The Business of Business” – retain that firm.
Be careful when retaining a marketing consultant. Why? There are many aspects of marketing such as proper pricing, ad creation and placement, packaging that is effectively eye appealing and protective, distribution channel selection, as well as sales and sales management.
Ask your prospective consultant what their special area of marketing is. Make sure that coincides with the type of help you need.
Initially, only the people who you trust will maintain the strictest of confidentiality. Those individuals include your attorney, your accountant, and your selected business broker.
DO NOT tell your employees, your service and product suppliers, and your banker.
Perform a Google search. But, be very precise regarding the type of consulting help you are seeking. As mentioned in Question #2, there are many consultants who focus primarily on one area of knowledge. Speak with three to five different consultants, asking the same questions of each of them.
When those conversations have occurred, decide which two are your favorites, and why. Then, decide which consultant you are most comfortable with … and why.
There is bound to be one who can provide you with just the right guidance.