As you know that more than 2/3rd of businesses fail within 5 years of startup, 80% of businesses stagnate within 5 years of their startup and 85% of businesses dissolve or practically give it away at the entrepreneurs’ retirement as no one buys it when family members are willing to take it over and run it.
As entrepreneurs are brave, knowledgeable and risk-takers, they need help in some of the following areas. Everyone is good in one area and doesn’t have an interest in other areas. for example, I am quite interested in talking and managing but don’t get excited about accounting and detailed numerical analysis.
Every entrepreneur should look at the following areas to make their business successful:
- Vision and purpose of the business – which area do you want to be best
- 5 year, 10 years, 25 year objective of the business
- Write the business plan as well as make financial projections & define capital needs
- An entrepreneur is a visionary and leader. So what would be your management team structure like accounting, marketing, IT, sales, etc? On the bus, you also need an advisory board consisting of a Lawyer, accountant, Business consultant, etc.
- Adequate capitalization for the growth of each phase as well as for the efficient operation of the business.
- Detailed operation and marketing plans
- Preplanned IT infrastructure
- Innovation on vision and planning by entrepreneurs with the help of coaches and consultants
BPF Solutions’ Advisory and Consultation services help entrepreneurs in all of these areas by coaching, training, consulting, funding etc. Any business can take advantage of it as these services are not that expensive. Another thing to note about BPF Solutions services is that most of their services are based on results rather than traditional hourly billing. If they don’t deliver promised results, they don’t bill you.
Although there are full-time employees that SMEs need to bring in, there are certain people that they cannot bring in as full-time, so these are what we call advisory. BPF Solutions can help you build and provide resources in all possible areas like legal, business consulting, financial, accounting advisory, coaching and training, and strategy advisory board. It’s all about advising how to do your best in the required section.
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