IntelligentQ is a small business focused consulting firm having expertise in business plans, business strategy, market research, pitch decks, Feasibility Studies and related areas. We work across industries and with a global clientele.
How to do a competitive analysis for a business plan! How to do a competitive analysis for a business plan!
As part of our business plan and feasibility study services, we do a lot of competitive analysis across sectors. Today, we have tried to collate these learnings into this blog so that it can help consultants and analysts to do it better. What we have done here is to bring out 2 different matrix and discuss about them. The table below is a mapping that we did for a client who are into restoration of furniture and interiors. A strategy we generally take when doing competition analysis is to check whether we have the opportunity to do an apple-to-apple comparison with the competition. Another very important aspect is the pricing strategy of the competition. Table 1. How to respond to a skilled Nursing RFP! How to respond to a skilled Nursing RFP!
Various companies across the US work with Government organizations across contiguous United States for providing nursing and medical resources to hospitals. Most of these companies are small businesses, veterans owned and women owned. They compete with larger organizations for Government orders to provide resources to Federal and State institutions. To win the RFP’s companies normally have an established strategy in place to ensure that they recruit, train and retain employees so that it benefits the clients and is of long-term advantage to the company. They have an established hiring plan that they use to fulfill the resourcing requirements. Hiring Fulfillment Plan The hiring fulfillment plan that is followed by is a risk averse plan that ensures that all hiring requirements are fulfilled on time. . · Requirements are analyzed in a meeting soon after receipt of the contract award letter. How to create small business strategies in 2021! How to create small business strategies in 2021!
2021 will be a year like no other as all businesses will be readying to take off with speed after going through all the disruptions in 2020. Every small business will look at strategies that will make them more efficient, competitive and customer focused. Some of the aspects that we shall focus today are on operational efficiency, customer focus and quality. We will on purpose not speak on marketing and digital strategies today because companies will more or less in all certainty aligned their digital marketing goals already. Operational Efficiency- Operational efficiency determines how quickly companies can deliver their orders to customers.
How to calculate mobile app revenue! How to calculate mobile app revenue!
App developers develop and launch apps to generate revenue from either in app purchases, advertisement revenue or subscriptions. If we take the example of a typical app, below are some of the revenue generation techniques that can be implemented: Freemium model, i.e. basic functionality offered for free while there will be a subscription for premium features. In this model, some of the features are provided free while advanced features come at a price.
This is a model that is adopted by many app players. Another revenue generation model can be deriving analytics from user data and getting subscribers pay for such data. Some of the key considerations while deriving the forecasts for any app is the “engagement factor”. What business to start after pandemic? What business to start after pandemic?
Diversification is one of the pivotal strategies for organisations to recreate and enlarge their competencies (Ahuja and Lampert, 2001; Hamel and Prahalad, 1994). The existing literature suggests that concentric diversification based on technological capabilities is a relatively low-risk but profitable strategy since it is derived from the reproduction of core competencies that are related to existing products or services. 3 great Ideas to start a fintech business in 2020 and beyond! 3 great Ideas to start a fintech business in 2020 and beyond!
The fintech revolution is taking the world by storm and disrupting existing banking and other insurance services by offering the same convenience and much more on a simple app. Today we will look at simple fintechapp ideas that can be launched quickly by taking advantage of easier Government regulations and readily available white labeled solutions. The 3 fintech startup ideas that we are going to explore today are comparison apps, fintech app that aggregates different bank accounts and enables simple transactions and insurance tech apps. Let us start with comparison apps: · Comparison apps – Comparison apps help to compare different financial products from multiple providers. . · Aggregation Apps- The aggregation apps help to send and receive money, Instant money transfer between account holders of the same app, Notifications on accepting the request for money, loans, advisory and saving.
. · Speed · Simplicity · Customer autonomy. How to complete the technical feasibility report of a project? How to complete the technical feasibility report of a project?
The technical feasibility study report of any industrial set-up will consist of the following sections. · Land area required for the plant and office · Plant area for the manufacturing process including preparatory department. A Digital Strategy roadmap for SME's to bounce back after the pandemic impact? A Digital Strategy roadmap for SME's to bounce back after the pandemic impact?
Let me start this post with practical challenges that are faced by SME’s while adopting the digital route. Before, I get into the challenges, what I mean by digital can be summarized as content, analytics, adapting digital tools and technologies and digital marketing. While working with small and medium business on their business plans and implementing them, we have noticed a clear affinity towards digital marketing.
This inspite of the very real Covid challenges that the SME segment has been battered with during this time. The resilience that the industry has shown in the face of Covid has been tremendous and we all need to take a bow. The Covid challenges not withstanding, SME’s have taken to the digital path very seriously. 4 steps to follow in writing a Federal RFP response. 4 steps to follow in writing a Federal RFP response While responding to a Federal contract many times we come across statements like this one “In addition, TGC Section 2157.0685 requires that state agencies procuring more than $50,000 worth of services from DIR Contracts must submit their draft and final Statements of Work to DIR for review and approval prior to making payment to a DIR Contract Holder.”
The reading between the lines and understanding of the meaning and referring to the TGC Section 2157.0685, becomes a challenge for even seasoned professionals writing a RFP response. The key steps that one needs to follow in a Federal RFP response are listed below: 1. How to work on a Sea Food Processing Business Plan? How to work on a Sea Food Processing Business Plan?
Sea Food enterprises are involved in processing and exporting of fresh and frozen seafood products. They produce fresh and high-quality seafood products for both local and international consumption. These companies have a processing facility and a cold storage plant where they store the fresh catch as well as the processed sea food before they are shipped to different markets. Many companies also have state of the art microbiology laboratory where regular tests are carried out to monitor hygiene during the various stages of processing. A standard plant handles 10 metric tons of fish that is delivered daily by the fishermen. Sea food companies specialize in collection, processing and distribution of the variety of seafood products caught within the waters of their respective countries coastline. Lack of freezers can be an issue for sea food processing business. Will market research take a backseat after the pandemic?
Will market research take a backseat after the pandemic? The question in the subject line may not be the case as large and medium companies will try and understand consumer sentiment because they want to customize their products along those lines. In this blog, apart from broadly describing the key elements of this subject, I will also share a few examples of certain sectors. I was reading some data from Greenbook.org blog where they have sourced the data from Trading Economics. It says that consumer confidence drop after 9/11 and stayed at the same level for 4 years and it took 7 years to reach the same level of consumer confidence.
How to create financial projections for business plan. How to create financial projections for business plan The financial of a business plan is one area where entrepreneurs face challenges in a business plan. In this blog, apart from broadly describing the key elements of a financial projection template, I will also share a few formulas that will help users to calculate NPV and few financial ratios. The financials are derived based upon industry facts and our best assumptions. The financial projections are created for a period of 3 years and in some cases for 5 years. The key components of the financial plan are: · Revenue Statements – Every Business has a unique business model and deriving the revenue statements is an art as much is it science. . · Expenditure Statement – The expenditure statement comprises of operational expenditure like salary, rent, utilities etc.
. · Cash Flow Statement – The cash flow statement as the name says gives a clear month-on-month idea of how much cash balance remains in the company’s accounts. Figure 1. Key factors to check the feasibility of a Fast Food business. Key factors to check the feasibility of a Fast Food business It is interesting to note that the GenX population globally is ready to experiment with different categories of fast food that includes burgers, fries, sweets, ice-creams and yogurts. Fast food chains are experimenting with a wide range of global cuisine that can include anything from Middle Eastern to Chinese or Western to Indian food. Any fast food project will require a team of experts who will identify the customer preferences and make necessary changes to the menu on a frequent basis that will keep customers coming back to the stores.
The menu will need to be modified to the taste of the local population. In many regions globally there is a very large presence of expatriates. The prospect of opening a fast food restaurant in any global region today especially in India, Middle Eastern counties like Saudi Arabia and UAE look bright. . · Growing number of gourmet foods is affecting the overall fast food industry. Other Trends. How to do a Senior Living Business Plan?
How to do a Senior Living Business Plan? Assisted living facilities enable seniors to live in peace and comfort after their retirement. Seniors feel that they are no longer alone and can lead a very independent and relaxed life at an advanced age. Assisted living implies residential support for old people who are physically fit and do not require any kind of medical support but a comfortable assisted shelter as they cannot stay alone. Group Residential care is the alternative name for assisted living. Different countries use different names for such residential care like boarding homes, rest homes, adult care homes, domiciliary care homes, personal care homes, community based residential facilities, assisted living and adult foster care (AFC).