The business ecosystem is a mixed bag that is full of uncertainties. Even a seasoned player or a budding entrepreneur, one cannot eventually predict or guarantee the success of a business model. For few, it’s a risky affair to dive in the deep waters, and for few, it’s an opportunity where success is knocking at the door!
To ensure a smooth sailing, the business fraternity adopts numerous measures to ensure minimum impact on the business. In today’s era as the market is fierce and competitive, a wrong decision can be fatal and can end up in curbing the dreams of the venture even before it can see the light of the day! To bring in optimum results, businesses are crossing horizons and adapting concepts that have been just an imagination till now. One such concept or buzz-word that has taken the startup world by storm is a startup consultant.
Before starting to analyze and inspect the profile of a consultant, let’s understand what makes these startup consultants the ‘blue-eyed’ boys for the startups. While the acumen and expertize vary from person to person, it’s a million dollar advise to have a startup consultant who can assist in aligning a specific aspect of the business. It might be a scenario that one is good at design, but doesn’t have the required exposure to marketing or vice-versa. Although a majority of startups are lucky enough to have a mentor or get benefit from an incubator program. Creating a niche segment in the already saturated market is a huge block that requires a proper know-how of the business segment.
That’s when a startup consultant comes into the picture to facilitate the existing system and streamline the process. This is the external force that concentrates on the areas that are aloof for an entrepreneur to look upon on a daily basis. Another reason to have this ‘trump card’ is to expand the business network. Knowing the referrals and working along the network has proved to be highly successful in a startup market.
The vast amount of professional insight, strategic decisions, and services offered by the consultants enable the entrepreneurs to have a considerable control of their business while taking progressive steps towards the ultimate direction.
There are several areas where hiring a startup consultant can actually drive the startup, some of the noticeable key areas are filtered below:
Market Research
In-depth market research is the soul of a startup business. It designs the strategy of the business and hence the inclusion of the trends and analyzing the consumer behavior acts as a critical tool for the startup. Analyzing consumer pattern, grasping the trends, evaluating the changes in the market, a thorough market research is a prerequisite for designing a robust market plan that evades the uneven potholes of the market.
Market research also assists to create a niche segment for the business, as well as steering the business to attain long-term goals.
Guiding the Young Minds
At a time when the young entrepreneurs are more likely to venture their own business, the fact that they do lack in managing the business cannot be overlooked. Although they pitch in with their technical outlook and modern mindset, crafting the ‘Go To Market Strategy’ of the business is what they lack. Consultants with experience fill-up this area and cater specifically to the challenges. They are immensely handy to understand the global perspective required to build the business model and target it accordingly.
Not affecting the Payroll
Since a startup consultant is hired either on a project basis or for short-term, the company saves a lot by actually not hiring the consultant under its payroll. Without the monthly salary and sharing the perks of the company, a consultant is just hired on a temporary basis. Also hiring the ‘perfect’ employee for the designated tasks, training them, and making them productive is a daunting task for an entrepreneur.
From the company perspective too, these consultants bring-in a lot of revenue and expertize as compared to the ‘full-time’ employees of the company. The best part is a company can hire these consultants based on specific requirements. As and when the project is over or the term gets completed, the consultant is free from the services and ends the contract with the startup.
The Last Words
The outcome is very decisive – consultants can be the backbone of any startup venture if they are engaged to the business in the most utmost manner. As consultants are mostly required in the early stages of a project to validate and analyze the business model, they actually help in prototyping and transforming an idea into life!
As an ‘outsider’, a consultant is the best person to judge and offer an unbiased opinion that can be the ‘much-needed’ push for a venture. A majority of the entrepreneurs start with minimum resources; consultants can deliver maximum output with their expertise and market knowledge.
So, while building a startup is tough, creating a successful business model is tougher and needs the experts who have the capability to align the business to the path of success. Dependent on the budget, tenure, and scope of the project, a right match can add a quantum of value to a startup.
Startup Consultants: Cruising the Startup through Rough Waters
