Business Advisory (Business Life cycle Advisory)
SEED STAGE
(0-2 YEARS)
Challenges
- Is this the right business?
- Trying to match opportunity with your skill, experience & passions.
- Where to get sales from? & who is my customer ?
- How does this business operate ?
- Funds sourced from family, savings and friends.
Solutions
- Documenting top five interests, rank it (1 to5) & selecting which among the top five can be commercially marketed
- Documenting product/service offering & matching it with market demand potential
- Documenting referral points for getting customers (BNI, Linkedin, Facebook, Friends, Previous Employers, Colleagues, etc)
- Documenting strategy (how, when , where & whom) for generating sales & starting operations
START UP STAGE
(3-5 YEARS)
Challenges
- What is a better way to do this business?
- Hire people that you trust & Cannot attract professional talent
- You do everything yourself and fear to delegate
- No vision – Heart is on Growth?
- How to grow sales?
- Legal Entity Selection
- Trying to establish a customer base
- Source finance from bank or use credit from suppliers.
Solutions
- Documenting a Business Plan stating “Vision” & “Mission of the owners & aligning every step to achieve sales & stabilize operations to its Vision
- Documenting job profile and attitude of resources required within the company to ensure delegation of work
- Selecting Legal entity format based on ownership structure, Tax impact, Benefits & Liabilities impact.
- Making an annual sales plan with targets, strategy & review mechanism to take timely corrective action
- Getting finance & its procedure through our network of Financial Institutions
GROWTH STAGE
(6-10 YEARS)
Challenges
- Organization Building
- Attract Quality People
- Need for Systems and Processes
- Unable to handle incoming sales
- Implementation
- Innovation needed
- Individualistic Modulation
- Working Capital required and Source finance from bank
Solutions
- Documenting Authority Matrix
- Documenting Organization Structure
- Documenting Standard Operating Procedures (SOPs). (Document form or video) to help effective delegation
- Documenting flow to ensure we have a proper Enterprise
- Resource Planning (ERP) which suits the organization and management in decision making
- Implementing Control procedures through Process Audit to ensure cost saving and compliances of applicable laws Making Dashboards
RE-ORIENT/EXPANSION STAGE
(11-20 YEARS)
Challenges
- Satisfaction with level of growth
- Dilemma – What next? Thinking beyond tomorrow
- Talent retention & Need for Leadership
- Decentralization
- Pressure on profitability
- Marketing/Sales Management & Diversification
Solutions
- Documenting strategies for diversification within same industry
- Documenting strategy for adopting to future requirement (Blackberry, Nokia, Kodak etc)
- Ensuring effective implementation of policies through internal audit & continuous review
- Preparing strategies for successors at Key Roles
- Documenting strategies for expansion
CORPORATE STAGE
(20-30 YEARS)
Challenges
- Corporate Image | Strategic Plans
- Driven by Policies and Processes
- Constant Team Upgradation
- Consistency | Compliance
- Intellectual Property Rights
- IPO/Investor Funds | Knowledge Management
Solutions
- Conducting department wise Internal Audit with 5 objectives – Cost control to improve profit | Accuracy of financial statement | Compliance of applicable laws | Prevention of Fraud | Safegaurding of resources( property, manpower, time and money)
- Preparing the company to go public
LIBERALIZATION STAGE
(>30 YEARS)
Challenges
- Information based decision making
- Family governance
- Board formation
- Business Ethics
- Business credential and goodwill
- Continuous Excellence
Solutions
- Continuous mentoring the management with its vision and mission statement
- Assisting management in removing bottlenecks within the management people
- Continuous Training & Mentoring Department HoDs to focus on organisation vision