Category Startups

Do you have a business idea but not sure what to do next???

Not knowing how to proceed is a common challenge to overcome. There is help! Business consultants work with entrepreneurs and existing companies. They provide the expertise necessary to move forward. They are the solution to many startups and existing businesses. Business consulting services are a great fit for many. Is it a good fit for you? Find out more about consulting below here.

Having a biz idea is exciting. It can feel refreshing, empowering, and inspiring. It can also feel overwhelming. This often comes from not knowing how to move forward. What the next step is. Nevertheless, new venture ideas are wonderful. Some are bad, some good, some brilliant. After one has a biz idea, writes it out in more detail, some research is necessary. Get clarity of how well the new idea is by comparing it to what already exists in the market. What other companies already provide. What currently is being offered. You must take care of the due diligence. Still think your idea is good enough to form a company. Then, it is time to write more details out. You may use a pre-created plan, template or a service for it.

It is during this time that you may also want to start working with a professional consultant. Business consulting services will not only write the business plan for you but assist you with the details of it. You must gather lots of precise details required in a business plan. Consultants can assist with this process and more. Consulting services provide temporary professional assistance. Clients use this help as they need it for their startup venture. Consultants work in areas that are priority and critical to the startup. Consultants can get involved right away and provide measurable results.

Have you ever worked with a business consultant? Find out if it is right for you! Speak to a business expert about your startup. Find out what kind of assistance can be provided. Ask questions, get details, and answers. Learn more about what type of options you have with your startup. There is lots of help available for business startups. For example, get a list of business funding sources. See if you can raise some money for your new business and startup venture. Getting funded can make a drastic difference.

Have a business idea? Talk to an expert about your idea. Find out what opportunities are available to individuals who have a business idea. Learn what the next logical steps are to move forward. Get some clarity on getting started and moving forward with your business idea. Starting a new venture is so exciting, exhilarating, scary, inspiring, and more. Why guess? Have a new idea talk to an experts. Guessing is never good in business. It creates margins for error. Talk to experienced professionals about your idea.

Not just mistakes are avoided, better choices are made. Informed decisions are made. Less guessing is done. Much is to be gained when working with helpful professionals.

Many factors go into a successful startup, such as market need, financing, a viable business model, and marketing. However, finding the right team – specifically, the right co-founder or cofounders – is a crucial first step. 

Your cofounder is your business partner. They are the one you’ll be spending long hours with in the trenches, building your business from the ground up.

So, it’s critical that you choose your cofounder wisely.

But, how does one even start looking for a co-founder and is it really as simple as it sounds? Well, to start off, one has to set a skillset requirement before endeavoring on such a journey. Listed here are a few tips that might help you find a co-founder for your startup.

1- Write a “job description” for that ideal partner

The most productive way of finding a decent co-founder is for you to write a comprehensive job description for that role. The only reasonable way to do it is to look at the strengths and potential weaknesses of your business. Once you realize what you need from your co-founder and find out which particular skills that person must have, put it in the job description. Also, try and look for someone who complements your skills with theirs, in order to ensure that your cooperation is productive and that your business is flourishing.

2- What Skills do you Lack?

Ask yourself what skills you are lacking, and what you would like to see in your co-founders skillset? You have to be perfectly clear on what skills will be needed for the success of the startup, and what is it that you are looking for. Take a look at your management team, and see what skills they are lacking; by identifying the necessary roles in your management team, you will figure out the real number of co-founders you need for your business. Each business member has its own roles and responsibilities which have to be fulfilled, which is why you are looking for someone with a decent skillset to fill those shoes.

3- Where to Look for a Co-founder?

There are many places where one could go searching for a co-founder. It all starts with the network of people you know; if someone can vouch for a particular person that is a great place to start. Another thing you can do is look at online “matchmaking” sites for business partners. Your last option should be an open job posting.

4- Take Your Time

Finding the right co-founder is a lengthy process, so take your time and do not rush it. Trying to speed up the process can only bring about bad results, which is something you might want to avoid. Get some time and look for the perfect candidate, spread the word on business forums and sites and monitor people’s reactions. If you have more than one person applying for the job (which is usually the case), test their skillsets and try and find the one that best complements yours. If none of them fits you right, just keep looking and in time, a perfect candidate will appear.

5- Avoid Family and Good Friends

Sooner or later, all startup founders (or at least the majority of them) consider reaching out to a member of family or a really good friend to be their co-founder. On one hand, it makes sense. You know this person. You know their good and bad traits. You trust them. Trust us, taking on a member of the family or a good friend as a co-founder is a huge mistake.

6- Be Diverse

In today’s world, most of the startups are being founded by college students who are 20 to 30 years old. Normally this creates a lot of space for different people with the same ideas. When hiring, you should be as diverse as possible, for extraordinary ideas are born out of diverse backgrounds and extraordinary experiences.

7- Research

Once you go through these steps, choosing a co-founder will be much easier. You will know what to look for in a person, and his skillset will determine whether he is the right fit for your business or not. Remember, take it slowly this just might dictate the future of your business. Do your research and start searching.

In the last 15 years the coaching industry has exploded and excelling in this fierce competition is another task that needs to be accomplished. Businesses exist in a competitive environment which makes building your brand not something “extra” that you have to do. It’s a crucial component of building your business!

What is branding?

Marketing and branding are both important, but the difference between the two is what makes branding so important for your coaching life.

“Branding” is who you are; the person. And “marketing” is how you build awareness for that identity; the logo.

Both are important to expanding your reach and maintaining client loyalty.

Branding is not just about having a pretty logo and color palette—in fact, the visual aspect of your brand is only the icing on the cake, so to speak. Branding is more about the ingredients of that cake, and how they work together to create a tasty and cohesive representation of your life coaching business.

HOW WILL BRANDING IMPACT YOUR COACHING BUSINESS ?

It will help people associate you with the results they’re looking for in their life and it will give you a strong platform to stand on and share the truths and hopes your clients need in their life.

1. Positions you as an authority
2. Builds your credibility
3. Makes marketing easier
4. Helps you grow your business 
5. Helps you make a larger impact
6. Connects with your audience and attracts your ideal clients
7. Showcases your strengths and what you bring to the table
8. Illuminates what makes you unique and different from other providers in your space
9. Shares a glimpse into what it’s like to work with you

BRAND STRATEGY

Your brand strategy informs nearly every decision you’ll make in your business and most importantly, it’s the way you’ll make an emotional connection with your clients–it’s all the reasons why they’ll choose you instead of any other coach.

A good brand strategy has many benefits for your business:

1. Command a Premium Price: Brand strategy gives you the power to position yourself as an empathetic, trustworthy coach with a unique set of value propositions offered by none of your competitors.
2. Communicate a Clear Message: People need what you offer. You know as a coach that you can make a difference. Unfortunately, the people who need your coaching services the most will have a hard time connecting with you if you don’t have a clear message that explains how your brand will solve their problem and transform their life. 
3. Increase Client Loyalty and Referrals: If you deliver what your brand promises, your clients will remember you.The most successful coaches at some point stop selling and grow through client referrals. Why, because happy clients want to talk about their experience and want others to share in this experience. 
4. Differentiate Yourself from Other Coaches in Your Niche: You’re facing a lot of competition, it’s difficult to stand out, and potential clients have lots of options when it comes to choosing their coach.That’s why differentiating yourself is more important than ever. 

WHY IS BRANDING SO IMPORTANT?

• Branding is super important because it’s one of the key ways you differentiate yourselves from other coaches. Using distinctive branding can help you stand out from other coaches in your niche and can help you become more recognizable and known.
• Branding can also create trust. A professional looking brand can help communicate your authority and knowledge which can help build trust with potential clients.
• Your brand can also attract the right people to you and repel the people who aren’t a good fit. When you have a really attractive brand it attracts your ideal clients!
• How you brand has an impact on how you position yourself in the market, which can also have an effect on your pricing. Believe it or not, you can intentionally use branding to help support higher service prices!
• Branding can also make you a more confident coach! Having a professional legit looking brand can really help you feel more confident when you’re putting yourself out there and getting visible too.

At Smart Interventions, we don’t just make branding. We solve your problems by using strategy-driven design to get you and your business where they need to be. If you like what you have read and think we would work together well drop us an email info@smartinterventions.org or feel free to contact us on Whatsapp on the link below:

What is a Pitch Deck? (Definition)

A pitch deck is a presentation delivered to investors to explain your company, the problem you are solving, important milestones, the stage your company is at, and what you’re looking for in terms of investment.

What should a Pitch Deck include?

#1. Company introduction

This should be a one-sentence explanation of what your business is and the kind of value you want to provide to customers.

#2. Problem and solution

Your business SHOULD be looking to solve a problem. As such, you need to mention which customer faces the problem and how your product or service solves that problem. 

#3. Market opportunity

Go into detail about who your primary customer is and how large the potential market may be. Try to find quantifiable data that supports the information you give on this slide.

#4. Product or Service

Go into greater detail and explain how the product or service solves the problem that customers are facing and how your startup offers a better solution than existing incumbents. 

#5. Traction and growth potential

This is an important slide that aims at showing the attention that the product-company-service is receiving and why it is a great opportunity that the investors do not want to miss. The takeaway from this slide is that you have developed the necessary momentum to scale up in the upcoming months.

#6. Competitors

Your potential investors need to know what they’re up against. Your “Competitors” slide shows who your competing businesses are and what makes you different.

#7. Team

Who are the key players in your business? Who will be the point of contact? What experience does your team have and what makes them stand out from the crowd?

#8. Financials

The financials slide helps investors understand what projected revenue will look like over the next several years. It should contain detailed numbers about your business and finances. At this point, you should have already completed a business plan, and you can pull plenty of data from the financials section of your plan. 

#9. Investment ask and use of funds

At this point in time, your audience and investors should have a clear idea of what you can offer. It is now time to make it clear what you expect in return. Present a clear set of figures detailing specific funds you require, together with how these funds would be used, and what ROI an investor can expect to make.

Do you need any help with your pitch deck? Contact us!

Attracting investors can easily be one of the most challenging things that you encounter when you launch your startup. However, you can’t grow your business without investors, which is why the sooner you start working on getting them on board, the better!

If you are starting a business, thinking about starting a business, or already well on your way and looking to raise your next round, here are a few things I encourage you to do to build excitement and successfully raise funding:

1. Make your business easy to understand. Do one thing, and do it extremely well.

Deciding on your “core competency” ! 

Without a clear core competency, it is very difficult for customers, investors, and even employees to get a firm grasp on what it is the business actually does. What’s the goal? What’s the one thing the business will be known for? What’s the problem, what’s the unmet need, and (in a single sentence) what’s the solution?.

If you can’t explain what problem your business solves, how, and why, in a sentence or two, then chances are you aren’t quite sure either. And if you aren’t 100 percent sure of what problem your business is solving in the world, investors aren’t going to know what they’re investing in.

2. Develop a strong business plan.

Your business plan is an essential document that proves one thing to investors: that your business is worth their risk. Your plan should clearly outline your business objectives and goals.

Show that you have a deep understanding of your target market and provide a complete description of the product or services you offer.
An essential section of the business plan is your marketing plan. It defines your market size and growth prospects and should show trend influences and sales potential.

3. Provide Management Team Bios & References

Investors have a keen interest in both you (as the founder) and the management team—from understanding their industry background to their business experience. They need to feel confident that you and your team can lead the company to grow and make a return on their investment.

Ensure you exude confidence and passion and demonstrate your willingness and ability to change course should your company need to shift direction. 

Other positive traits investors look for in founders are the ability to make decisions with input from your leadership team (there’s no room for indecisiveness), excellent relationship and networking skills, and the ability to build a company around core competencies and deliver on them.

Final thoughts

Investors assume risk whenever they invest. An exit opportunity provides them a “reward” for their risky move. It’s therefore imperative to integrate an exit strategy into your business plan. Let investors know how you plan to return their investment. Will you pursue an acquisition? Merge with another company?

Choose an exit strategy that aligns with your business and personal goals. Your time frame may vary, so think about when you may want to implement your exit strategy as well. The objective is for all parties to exit profitably.

As exhilarating as it is, the fundraising process can be intimidating. But when you’re prepared, you can go in strong and confident—moving you one step closer to achieving your goal. Need help getting your financials in order? Do you have further questions about how to attract investors to your business? Contact us!

Regardless of what you want to do, owning your own business is a goal for many. Being an entrepreneur, growing a business, gaining financial security is a dream for most. Not everyone is equipped to be an entrepreneur or business owner. This is when the help of a business consultant is needed for assistance!

An investment must be made not just in the form of money, but also time, and other commitments. Starting a business is not easy. With many types of companies, the rate of failure is high. To increase chances at success, experts can assist. Experts through consulting services provide the necessary support for business startups and entrepreneurs.

Consultants work in many ways to assist clients with a new business. It can be from basic items such as help structure the new business, creating a business plan, doing research, achieve certain objectives, milestones, and more. A consultant puts best practices ahead since many have done the work already many times before. This strengthens the process and outcomes.

In the beginning of a new business, there is much that is required to be done. Not just done but done correctly. This can range from the basic setups of a business, the structure, licenses, to product design and development. Services may need to be created, priced, and so on. It all depends on the type of business. Are you needing a retail space? What type of business are you starting? A consultant can assist. Speak to one about your business startup and/or idea.

A key benefit of consultants when working with them is the momentum.

The speed of getting things done is critical with a startup business. Often, uncertainty slows things down or is the cause of a complete stall or stop. Procrastinations can happen here quickly.  Consultants move on business topics quickly. Working with a consultant helps avoid slowdowns. Momentum is created when working with the assistance of a business consultant. They add knowledge and details as required, keeping the pace moving forward. Consultants know the next steps are help entrepreneurs, investors, and business startups follow them. Steps are taking in the right order, tasks executed properly, and the startup is successfully established. Speak to a consultant and find out if this is right for you.

Click here to download Smart Interventions startup business brochure to discover our services!