A start-up company, launched by two young entrepreneurs. They have innovative offerings for fast moving consumer products for a segment which offers a great potential.
Strength of the Client
Technocrats, have developed innovative products. Excellent at product and packaging development. Have lots of enthusiasm and idea for the business. Have been able to garner a round of moderate investment into the business.
Challenges
Business is started from scratch
No formal organisation structure
No defined management processes
Lack of process for formal budgeting and business planning for the future
Severe Time crunch on routine basis for attending important matters
Unable to focus on selection of various software needed for business as well as capitalising fully on existing software deployed
No formal process for logical evaluation of various ideas, which are in abundance at the start-up stage
No formal process of evaluating and channelising ideas by deciding prioritiesand linkage with available fund deployment Absence of formal communication across the company , either with employees or with associates on matters related to polices, system, or operational aspects.
Spanyan Business Assistance |
A. Establishing standard systems and good management practices
Identified activities / tasks which needed to be done as part of each process of business operation
Built formal management process, Identified the required positions to be filled,Defined clear job descriptions, roles andexpectations from the employees. Introduced and Implemented Incentive systems
Established formal Budgeting and Business Planning process, with clear bench marking and boundary for the business, spending and expected returns.
Established Business review systems by Identifying important parameters and frequency of review
B. Brainstorming and crystalising Growth Strategy
Series of growth meetings to brainstorm various innovative ideas, different avenues for organic business growth like online business, retail business, franchise model, export market potential
Zeroed down to few alternatives
Identified important factors for which critical feedback were to be collected
Prepared detailed financial modelling to evaluate and forecast business and assess success vs risk
Formulated implementation plan, evaluating vendors, service providers.
Established KPIs for measuring actual performance after implementation
Points Considered while developing Strategy |
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Ultimately value creation helped client to strike larger collaborative deal successfully |