Missing Opportunities

Posted by Chris on 9/22/2017 to Advanced Business
Missing Opportunities

Missing Opportunities

Every business objective can be reached using various resources, with many different processes, with various man-hours and other costs within significantly different time spans. It is a matter of choices that will be made by each company’s decision making processes mechanisms with the specific set of corporate criteria defined in the company strategy. In Start-ups and small businesses were all that are not well-defined it is much easier to take a decision that will not be optimized to the best interest of the company. This happens because small business owners and managers do not have the required knowledge (on finance, management, marketing, sales etc.) and can be misled by prejudices and other influencing factors.

It is almost impossible for the average start-up company to calculate every risk and evaluate all available options for every individual business activity using the available budget to the max. This happens because the affecting aspects are still unknown because in a new business there are no previous data to compare and evaluate what worked and what did not work.

To find the missing pieces of the puzzle previous recorded knowledge of others that have done the same things need to be studied and case specific elements are to be explored.  A way out of this deadlock is to get an expert on-board to seek for the missing answers through primary and secondary research. Primary research explores scientific publications, books and industry data while carefully designed secondary research can provide insights on what your customers think and how they will react on different scenarios.

One of the most typical start-up’s mistakes is not to design detailed marketing and sales plans that would have detailed costing budget allocated on each activity. Marketing is practically the way a company will reach out to prospect clients to build a trustful and meaningful bidirectional relationship. The sales efforts that will follow are based on that awareness and the trust developed through the set of marketing activities that include branding, content creation, printed and electronic materials, promotion, communication and service. Unplanned marketing and sales made by untrained staff can cause much more harm to the business than investing on outsourcing to professionals. 

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