All entrepreneurs have good business ideas but most do not have a good business implementation. That is one of the main reasons why startups are failing at such an alarming rate throughout the world even before becoming a legitimate business. Startups are the branch of businesses that come up with new products for a new market which the entrepreneur has identified, and they aim to change the way the business was being done historically in those markets or invent new ones totally. Therefore according to us entrepreneurs are no less than scientists.
While launching these new business ideas, there are many aspects which the entrepreneur needs to analyze including Market size, Regulations, Website development, Business registration, Sales funnel, Key partnerships, Pricing strategy, Marketing Strategy, etc. Although, it is easier for a well-funded company to hire full-time management-level employees who can work on the many aspects of their new business model there are several startups and SMEs that want to launch new businesses and the entrepreneur has to manage a lot of things all by himself. This not only reduces the speed of the growth of the company but also leaves the entrepreneurs vulnerable to the risk of ultimate failure which is worse.
Doesn’t matter if you are launching a new business or running a successful business, looking to expand to new markets, or looking to diversify your business to reduce your risks; a Startup/SME consultancy like HBF Direct can save you from the risk of failure and take your business to next level from where you are right now. We have listed some of the many advantages you can have by partnering with HBF Direct to grow your business:
Business Model Innovation
Generally, new business ideas need to be accompanied by a new business model. Most entrepreneurs will have the idea figured out but they seldomly work on the model. Startup consultants at HBF Direct have the experience of dealing with various startups and have also studied the benchmarks and new ways that can be integrated into your model. Any of the aspects which we add to your model might just be crucial to your success.
Unbiased and Professional Review
With time, entrepreneurs tend to get too close with their business models which sway them away from analyzing facts and figures. A consultant will maintain a professional relationship with you and your idea and provide you a 360-degree analysis to help you make your business decisions in all fairness by avoiding all biases that might harm your business in the long run.
Increased Focus on your Business
The maximum time an entrepreneur should be spending is on increasing the business and not managing the existing business. Many new business ideas are able to generate stable revenues but fail after that as the leader of the model was too busy managing the existing business. We will help you build the right business processes to save your time, take care of your secondary work and build the right partnerships and network for your model to take it to the next level and further.
We cannot stress this enough but a lot of business ideas are started just on intuition without backing the idea up with any data. Data is the most important aspect of a new business, it allows you to make fact-based decisions and also lets you keep your business model flexible enough so that you can tweak it where necessary to make it successful in the long run. In our experience, businesses that have invested in market research not only tend to be successful but tend to be more profitable as well.
Utilize Our Network
When you partner with HBF Direct, you automatically get attached to the wide range of startups, SMEs, entrepreneurs, and investors we are dealing with as our clients. You can have a good business without a great idea but not without a network. We always try to help our clients via our existing relationships in the market. You would be surprised to know that some of the major business problems a startup is facing can be solved by simple networking rather than spending money or time on it.
Avoid Common Mistakes
There are many articles you will find on the internet stating common mistakes made by startups. As per our experience, many entrepreneurs make the most fundamental mistakes after securing their funding when they were supposed to grow faster than ever. Take advantage of the numerous case studies and experience of our consultants in the startup field to help you in your journey.
It is a great misconception among Startups & SMEs that management consultancy is only for big corporates and comes only with expensive packages that they cannot afford. In fact, corporates have become so big because they have hired services of talented & experienced consultancies in their field. We encourage you to come to chat with us about your business problems and we will give you the best bang for your buck with many other advantages added to the ones mentioned above.
The world of business is changing its ways faster than ever post COVID-19 Pandemic, many traditional ways of doing business are being re-written in today’s world. Experimenting with new business ideas is like taking a shot in the dark in current world scenarios if you do not have the right guidance & experience along with you in your journey. If you have a new business problem, then we would love to take the challenge to solve it with you. Contact us if you have any queries!