Start Up Consulting:
Many new enterprises fail because they entered the field with insufficient knowledge of their market. The number one difficulty that entrepreneurs cite in getting a business off the ground is subject matter knowledge — who, what, where, when, and why of their business. A great idea can only go so far if the market itself isn’t ready for it.
The key to orienting a new business toward the demands of the market can often be startup consulting. Many entrepreneurs, some of whom have started dozens of successful enterprises, sell their expertise in the form of startup consulting to help new business owners make the most of their time, money, and intellectual capital. Even the soundest business ideas can fail without proper direction, and nothing is more beneficial to a new business owner than the expertise of having launched a successful venture.
Unlike other business consulting services, such as management consulting, start-up consulting is not always prohibitively expensive. Start-up consultants realize that new businesses are often strapped for cash and generally can’t afford the high fees charged by many strategy consultants. In some cases, a strategy consultant might even take equity in the company instead of cash, allowing the start-up to conserve much-needed cash and also ensuring that the consultant gives the best, most appropriate advice.
Some entrepreneurs think that soliciting advice from a start-up consultant could be seen as an indictment of their ability to run the company. But start-up consulting isn’t babysitting or hand-holding; generally, it focuses on the operational aspects of running a company, from hiring to lease agreements to payment and bonus structure. These are the aspects of business that no newcomer would be expected to know — they can only be gained through experience. Start-up consulting is not a substitute for intelligence, instinct, or motivation.
Given that start-ups and new ventures are one of the fastest-growing sectors of the economy, start-up consulting can be the advantage that a new venture needs to outpace its competition. The business world can be a murky, troublesome frontier to navigate, and the assistance that a start-up consultant provides can sometimes be the difference between early success, or a long, protracted start-up phase.
The Need for Start-Up Help in a New Business
Nearly everyone who has served in the workforce has desired to be his or her boss. Being unable to make one’s schedule makes a person subject to the desires of another person and forces one to surrender a lot of the control of his or her time. Going into business for oneself, however, gives a person the ability to work when he or she desires and to keep any profits that the business makes.
While it may be ideal, however, getting into business for oneself is not as easy as it seems. Most small startup business owners require a great deal of start-up help. There is an old saying that a person has to have money to make money, and starting a business always involves a source of start-up funds. Many people will look to personal friends or family to provide this help, asking them to invest some money into the business in exchange for a share of the profits.
The money that is invested in start-up helps the business to enable the owner to buy equipment, rent space, and match other expenses that are involved in running any kind of enterprise. If a person is unable to secure private investors, a United States citizen can also apply to the Small Business Administration for a start-up loan at a competitive interest rate. As the business grows, the monies earned are used to pay off the loan.
Another form of start-up help that new business owners require is in the form of business planning. Money, whether from private investors or a small business loan, cannot be spent without thought and planning, for that would be the quickest way to go under. There has to be an organized business plan that realistically estimates the market for the company and anticipates the needs the business will have when it begins. The owner will also have to make a basic plan for further growth if he or she can use the start-up help to create a successful company. Marketing resources abound for this planning, including books at the local bookstore or library. The owner can also take some marketing and business classes at the local college.
With a little hard work, foresight, and start-up help, the dream of owning one’s own business can come true. Every potential owner should take advantage of this help.