One of the challenges an entrepreneur faces is coming up with the right business structure/model to ensure the success of the venture. One of such ventures an engineering firm in Uganda who wanted to come up with the right business model and market entry approach.
“We have a team of subject matter expert in engineering but we don’t know how to be setup and also attract the clients to patronize our services” – CEO of company
Part of the consulting process involved understanding their current business model (if any), how they are set up, online presence, sales and marketing strategy. At the end of the consulting process, they had a well developed business model and a strategy to attract new clients and maintain the current ones. A key part of the process was to engage the team to understand the various dynamics of the market they are in and:
- the problem they are trying to solve,
- their target customers,
- value propositions,
- solutions,
- channels to target,
- unfair advantages they posses,
- key metrics to measure
- expenditures, and
- income sources