Struggling businesses
- Thread starter instantbusinessconsultant
- Start date
- Original Poster
- #5
Guys, wow, thanks for such a prompt response, my first post and a response within 10 minutes, cool.
A little bit about where I'm coming from. Got 16+ years experience within the following sectors, manufacturing, IT, property development, property management, publishing, business training, sales and marketing... etc, wanted to look at skill transfer possibilities, hence the forum question. Ive just recently completed an MBA in business strategy (Distinction) at a London university. Some of my colleagues and I are considering combining our skill sets to form a consultancy. InstantBusinessConsultant, yes I appreciate there is no such thing as an instant business consultant but thats the name we are toying with, it has not been confirmed yet, so dont quote me.
Been off the business scene for a little while, while studying for my MBA and wanted to genuinely know where people felt were the top struggling industries ( as part of our research), sure paying market research companies to do this for us is an option, but surely it make more sense to hear what REAL people have to say on the subject as well.
All that said, and my cards on the table can you offer any useful suggestions please? What say you?
Hope to hear from you all soon.
Thanks for reading.
All the best and God bless.
A little bit about where I'm coming from. Got 16+ years experience within the following sectors, manufacturing, IT, property development, property management, publishing, business training, sales and marketing... etc, wanted to look at skill transfer possibilities, hence the forum question. Ive just recently completed an MBA in business strategy (Distinction) at a London university. Some of my colleagues and I are considering combining our skill sets to form a consultancy. InstantBusinessConsultant, yes I appreciate there is no such thing as an instant business consultant but thats the name we are toying with, it has not been confirmed yet, so dont quote me.
Been off the business scene for a little while, while studying for my MBA and wanted to genuinely know where people felt were the top struggling industries ( as part of our research), sure paying market research companies to do this for us is an option, but surely it make more sense to hear what REAL people have to say on the subject as well.
All that said, and my cards on the table can you offer any useful suggestions please? What say you?
Hope to hear from you all soon.
Thanks for reading.
All the best and God bless.
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Don't be so hasty OEE, I've just started up my instant major surgery ward. I don't have any relevant experience or training but so far hardly anyone has died.
In all fairness to the OP, providing the information on your background is accurate it would seem that there is value in what you would be offering in a consultancy role to some businesses. The name however doesn't do you any favours. I'd maybe think of something more appropriate.
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Why £100,000?
What type of mag?Do a digital mag, build your subscription via twitter etc @ .59p per issue or free, pre-sell your ads, get three isues laid down and get the proudution on 60 days credit, just in case, job done.
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- Original Poster
- #14
Hi,
I would imagine, since you "have no money to put into the project" then investors would be required, but naturally before any investor could get involved with such a business proposal then they would have to be assured of their ROI (after all you are asking for 100k).
A way forward would be to put together a strong business plan, geared toward raising investment capital (assuming you do not have one already). In terms of getting advertisers onboard, you can test the waters for interest (possibly through short questionnaires targeted at your niche - offer a gift as an incentive for completing the questionnaires or outsource this task to agencies), you may also try and find some established magazine publishers to set up JV partnerships, this could be a fast track way of "learning the ropes", so to speak. These are just a few suggestions, off the cuff. Let me know your thoughts.
Cheers
I would imagine, since you "have no money to put into the project" then investors would be required, but naturally before any investor could get involved with such a business proposal then they would have to be assured of their ROI (after all you are asking for 100k).
A way forward would be to put together a strong business plan, geared toward raising investment capital (assuming you do not have one already). In terms of getting advertisers onboard, you can test the waters for interest (possibly through short questionnaires targeted at your niche - offer a gift as an incentive for completing the questionnaires or outsource this task to agencies), you may also try and find some established magazine publishers to set up JV partnerships, this could be a fast track way of "learning the ropes", so to speak. These are just a few suggestions, off the cuff. Let me know your thoughts.
Cheers
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I know your function is to give advice but after seeing the above post using the phrases, 'test the waters' and 'fast track way of learning the ropes', would you seriously invest in someone that didn't know what they were doing?
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M
mike.davis
You can have all the training in the world but unless you've actually run a successful business theres no way I'm listening to you!
What makes people think a qualification is a substitute for the experience of running a business, you could have the best business qualification in the world but as far as I'm concerned until you have practised what you preach you have no right advising people.
What makes people think a qualification is a substitute for the experience of running a business, you could have the best business qualification in the world but as far as I'm concerned until you have practised what you preach you have no right advising people.
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W
Waveney Books
Agree with Mike. Though I'd love to sit in on a few 'Business Studies' lectures, simply to see what the students are being taught.
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mike.davis
Yeah so would I, I wonder as time has moved on and as more lecturers have come straight out of university without actual business experience if the lectures have become more removed from what the actual world of business if like, generations of people learning about business without putting there "skills" into action.
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S-Marketing
When I was studying for Chartered Institute of Marketing qualifications, at a reasonable University, I was taught one subject by a lecturer who's qualifications were in teaching only. She had no relevant degree or experience in either marketing or business. I was a little less than impressed.
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E
Esk247
Well i was at college not so long ago and the Business Studies lessons were...poor to say the least.
The tutor was a real world business person. He had run a few medium sized companies in the north of England but he seemed to be restricted by having to do what the book said. You could visibly see his frustration.
On top of that, most students take Business Studies as the easy subject, like art. You just copy out what is in the book on VAT or Market Demand and bing bang bong you have yourself a GCSE in Business Studies..congrats!
The tutor was a real world business person. He had run a few medium sized companies in the north of England but he seemed to be restricted by having to do what the book said. You could visibly see his frustration.
On top of that, most students take Business Studies as the easy subject, like art. You just copy out what is in the book on VAT or Market Demand and bing bang bong you have yourself a GCSE in Business Studies..congrats!
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It's funny that you have gotten onto the topic of business courses at a time where I have considered doing a part time course myself. For all my real world, hard earned experience I don't have a degree so figured I had better prove to myself that I am capable of getting one before I die of old age.
What other opinions do you all have on the current state of business courses in England?
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S-Marketing
I did the Chartered Institutes quals as it is kind of expected that you have some formal qualifications if you are a consultant. I think it was when I was in a lecture during the Prof. Diploma that I realised that if Marketing was, in its simplest form, about differentiating yourself from the competition, what use is being taught exactly the same thing as everyone else who is going to be working in marketing.
I sat in lectures with people who worked for the NHS trust, the University itself, and other large corporate organisations. It wasn't exactly a melting pot for innovative new ideas, I can tell you that.
I sat in lectures with people who worked for the NHS trust, the University itself, and other large corporate organisations. It wasn't exactly a melting pot for innovative new ideas, I can tell you that.
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Hi Guys,
Really new to things like this,
I have launched a promotional company offering free advertising to local businesses around the UK, we sell vip cards to the general public via street sales which entitles them to discounts at these local businesses.
The problem is we have had a rival company giving out free cards next to our staff(forcing them to quit), wrongly writing letters to companies that we deal with tarnishing our name and threatening our staff. We have already had legal advice and there is nothing we can do without taking them to court and they know we cannot afford to do so at this early stage(what kind of country is this? where huge companies can simply bully new small companies out of business? it seriously makes me sick!).
to try to avoid this problem we are looking in to corparate sales as our main source of income, with hotel and limo company sales also. Our cards offer discounts in restaurants such as burger king and Frankie and Benny's in bars nightclubs clothing shops such as Greenwoods and Blue Inc. etc etc.
Our cards last for 12 months and we usually charge £5, we are looking to sell in bulk at a discounted price to businesses. We do not have any experience in selling to businesses and to be honest are not confident in going out and trying it plus theres the fact that we do not know where to start listing down target businesses(offices etc).
So we were wondering if there are any companies that have sales reps going from business to business offering goods, that could offer our cards as an extra line, taking a cut on a commision basis.
Are there any companies i can contact with such a request?
Please Help we are on our last legs here!
Really new to things like this,
I have launched a promotional company offering free advertising to local businesses around the UK, we sell vip cards to the general public via street sales which entitles them to discounts at these local businesses.
The problem is we have had a rival company giving out free cards next to our staff(forcing them to quit), wrongly writing letters to companies that we deal with tarnishing our name and threatening our staff. We have already had legal advice and there is nothing we can do without taking them to court and they know we cannot afford to do so at this early stage(what kind of country is this? where huge companies can simply bully new small companies out of business? it seriously makes me sick!).
to try to avoid this problem we are looking in to corparate sales as our main source of income, with hotel and limo company sales also. Our cards offer discounts in restaurants such as burger king and Frankie and Benny's in bars nightclubs clothing shops such as Greenwoods and Blue Inc. etc etc.
Our cards last for 12 months and we usually charge £5, we are looking to sell in bulk at a discounted price to businesses. We do not have any experience in selling to businesses and to be honest are not confident in going out and trying it plus theres the fact that we do not know where to start listing down target businesses(offices etc).
So we were wondering if there are any companies that have sales reps going from business to business offering goods, that could offer our cards as an extra line, taking a cut on a commision basis.
Are there any companies i can contact with such a request?
Please Help we are on our last legs here!
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I cant believe that the OP replied to VVvvvvvvvvmans post thinking it was serious.
Oh well. Might as well help with what industries are strugging
Retail
Manufacturing
Public Sector
Financial Services ( Apart from specualative banking
Advertising
Licensed Trade
Education
Public Services
Oil & Gas
Aviation & Travel.
Is that enough to be going on with.
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jesus christ wtf do i have to do to make a new post? i cant see anythin tellin me how????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????
Calm down fella, you'll burst somefink!!
You have made a new post??????
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jesus christ wtf do i have to do to make a new post? i cant see anythin tellin me how????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????
Come out of this thread and back to Business Forums. 2nd link in at top left hand page. Then select which forum ie Accountancy - General Biz.
Top left hand corner and you will see a big blue button which says. Guess what??????????????????????.
Hows that for a real biz consultant.
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Come out of this thread and back to Business Forums. 2nd link in at top left hand page. Then select which forum ie Accountancy - General Biz.
Top left hand corner and you will see a big blue button which says. Guess what??????????????????????.
Hows that for a real biz consultant.
How much do you charge OEE? I'm supposed to put my bins out today, but I'm not sure which one. I have a blue one a brown one and a black one.
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R
Remote Resources
In my humble opinion, the kind of business that are really struggling are the businesses that won't have the funds to pay you. I'm thinking of small retail outlets, failing coffee shops, clothes shops, newsagents etc. Usually there are more forces at work on these poor little businesses than your average consultant can contend with - Tesco's being one of them!
Ideally you need to be focussing on businesses that need to streamline their operations to make savings and cut staff but still have the cash to blow on consultants. Small manufacturing operations are ideal if you know your stuff. If you're good, the savings you will bring will outweigh the cost of employing you. Same probably can't be said for retailing which seems to be on its last legs anyway.
Ideally you need to be focussing on businesses that need to streamline their operations to make savings and cut staff but still have the cash to blow on consultants. Small manufacturing operations are ideal if you know your stuff. If you're good, the savings you will bring will outweigh the cost of employing you. Same probably can't be said for retailing which seems to be on its last legs anyway.
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S
S-Marketing
Good post, but none of it should be a consideration if you find a decent consultant. I personally have always made a ROI for every customer, and it has always far exceeded any fees I have charged. I would also never take a client who I wasn't sure I could have a positive result with.
You are right though, there are some businesses who are simply beyond help, and any consultancy fees would simply serve to speed up the inevitable.
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