Archivio tag: business Growth consultant

Elevating Business Growth: The Importance of a Growth Mindset

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Do you have a growth Business Mindset?

Are you bullish about your growth?

Are you innovating, taking calculated risks to scale?

Is your business agile to pivot to manage change?

If the answer to any or all of the above is ‘no’ or a ‘maybe’, it’s a wake-up call.

A growth business mindset is essential in today’s competitive market to stay relevant and increase market share. This mindset keeps the focus on growth and increases customer value. It also attracts investors and talent.

It’s a mindset that pushes entrepreneurs to continuously challenge themselves and scout for opportunities, resulting in increased profitability and success.

Challenged with finding your chi, engage a Business coach, your best worst friend who will help you develop a growth business mindset and make you accountable.

Do not be the person to hold back your growth. Take action. Connect with the team Ethique Advisory, and we would be happy to work with you towards your business’s success! Contact us today to learn more about how you create a mindset for business success.

Start your journey towards achieving a better work-life balance.

Top 4 Benefits of Hiring a Business Consultant

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In today’s competitive business environment, it is essential to have a strategic plan for growth and success. However, many businesses need help to identify and execute effective growth strategies on their own. This is where a growth consultant can make a significant difference.

A growth consultant is an expert in identifying growth opportunities, developing strategies to achieve them, and executing those strategies for maximum impact. They can provide valuable insights and expertise to help businesses overcome obstacles and achieve growth goals.

This article will highlight the importance of hiring a growth consultant for your business. We will discuss how a growth consultant can help businesses:

Identify growth opportunities: 

A growth consultant can help businesses identify new markets, products, and services that have the potential to drive growth. By analyzing market trends, consumer behaviour, and industry data, they can identify opportunities that may need to be apparent to the business.

Develop growth strategies: 

Once growth opportunities have been identified, a growth consultant can help develop strategies to achieve them. They can provide a fresh perspective and offer innovative solutions that may have yet to be considered by the business.

Execute growth strategies: 

A growth consultant can help businesses execute their plan by providing guidance and support. They can help identify and overcome obstacles, monitor progress, and adjust.

Improve overall business performance: 

By working closely with the business, a growth consultant can help identify weaknesses and provide improvement recommendations which result in improved efficiency, increased profitability, and enhanced competitiveness.

In conclusion,  hiring a Business growth consultant  can provide businesses with a competitive edge by identifying growth opportunities, developing effective growth strategies, and executing those strategies for maximum impact. Companies can position themselves for long-term success and growth by investing in a growth consultant.

Ready to take your business to the next level? Contact the  Best Business Coach In India , Ratish Pandey, to achieve your goals and unlock your business’s full potential.

How to Create a Roadmap for Business: A Step-by-Step Guide

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Many organizations fail to successfully implement their strategies, despite investing billions. Why? The answer is simple: lack of successful implementation. Despite being a top priority for executives, surveys report that fewer than 15% of organizations worldwide have successfully implemented their strategic initiatives. This huge gap between expectations and outcomes highlights the importance of creating a strategic business roadmap. So, what exactly is a strategic roadmap, why does your organization need it, and how can you create one? Read on to find out.

Why Does a Company Require a Strategic Business Roadmap?

When leaders, employees, and stakeholders aren’t on the same page about the organization’s future, it can lead to disarray. The State of Leadership Development 2020 surveyed 21,008 employees and found that only 29% believed their leaders’ vision for the future aligned with the organization’s. Leaders also make on-the-fly decisions that may not optimize long-term success. A strategic business roadmap provides a clear path to achieve goals and ensures all actions align with the plan, avoiding these challenges.

What is a strategic roadmap? Learn how to create one for your business.

A strategic roadmap is, to put it simply, a road map that shows the direction that a business should take to succeed both now and in the future. The roadmap not only outlines the company’s current situation and the best route to its objectives, but it also speeds up the process by preventing staff from having to figure things out as they go.

Organizations can identify the decisions they must make for long-term success using a strategic business roadmap. A strategic roadmap makes sure that the company’s founders can look past the operational fog and lay out a clear goal for everyone in the organization. If properly implemented, it gives employees across the cadre the ability to make decisions of high quality that are in alignment with the objectives of the organization and acts as a reference point for staff members, managers, stakeholders, and other interested parties.

Is your organization currently without a strategic roadmap? Don’t worry; developing one may not be as intimidating as it seems.

We have prepared a step-by-step guide to assist you in creating a strategic business roadmap for your organization. Our blog offers a straightforward framework to help you get started.

So why not take a look and learn how to create a roadmap for your business?

Establishing Your Organization’s Direction
Determine Your Destination
Establish Goals and Measure Progress Through Processes
Create a Map of Your Pathway to Success
Gather the Necessary Tools to Achieve Your Objectives
Assign Responsibilities to Ensure Accountability
Regularly Measure Progress and Course Correct as Needed.

In conclusion, crafting a winning business roadmap is a critical aspect of achieving success for any organization. By taking the time to identify your goals, create a clear and actionable plan, and gather the necessary tools and resources, you can develop a roadmap that will guide your organization towards success. It’s essential to regularly measure your progress and course-correct as needed and to assign responsibilities to ensure accountability.

Visit Our Blog to learn these steps more in detail and continuously refine your roadmap; you’ll be well on your way to unlocking the full potential of your organization and achieving your business objectives.

Why startups fail? Top reasons and lessons learned.

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Lack of Product Market Fit Indian Startups had a stellar year in 2021, setting several new records -the number of startups acquiring unicorn status, the number of new startups launched, and the record funding received by startups.

Now more than ever, Indian startup founders are aspiring the unicorn status, that is a $1 billion valuation.

All the good news could make one forget the struggle to launch a successful startup. It is no surprise that 90% of all startups fail within five years of being founded.

Why startups fail?

What should the founders do to mitigate failure?

Let us look at five factors that spell doom for startups and how the founders can address the situation fitfully.

  1. Failing to raise new capital

  2. Lack of Product Market Fit

  3. Competitive Landscape

  4. Pricing/Cost Challenges

  5. Product Launch Timing

Discover the common reasons in detail why startups fail & how to avoid them. Gain insights from industry experts to help your startup succeed. Read more now Visit Our Blog!

Employee Coaching: Elevating from Good to Great

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Organizations and employees often prioritize degree or skill-based hiring, but research has shown that success is driven more by EQ than IQ, with 80% attributed to EQ. Industry leaders suggest hiring for attitude over skills.

An all-star team isn’t enough without support and collaboration.

While senior management is responsible for building a thriving workplace, it can be challenging.

An executive coach can provide a solution by helping senior executives acquire coaching and management skills while enhancing personal development. With an unbiased and skilled perspective, executive coaches bring fresh insights and make coaching more acceptable to employees.

According to a recent International Coaching survey, people who participated in coaching saw a median Return on Investment of 3.4 times their initial investment, with one in five reporting a staggering 50 times Return on Investment.

In addition, the same survey revealed that 95% of individuals who worked with a coach gave them a “good” or “outstanding” rating. proving that investing in coaching may help an organisation grow and become more productive.

A young firm may find it difficult to determine which coaching is the best fit for their organisation, given the possibilities and variety of coaching solutions on the market.

Learn how employee coaching can transform good employees into great ones. Discover tips and strategies for effective coaching from industry experts.

For executive coaches, when listening stops and talking begins

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A recent survey showed that 67% of the participants believed that leadership coaching increased employee engagement and satisfaction, while 50% said it improved overall productivity. When it comes to coaching practices, leaders have traditionally employed a trust-based approach that focuses on working with employees to come up with solutions to new challenges. However, in a dynamic, ever-changing business environment, there are certain situations where leaders as executive coaches should resort to a direct-coaching process that maximizes goal attainment. 

Let us first understand the traditional coaching process and how it differs from a direct approach for understanding the two situations. 

The Traditional Coaching Process 

Leaders today are expected to have all the answers. Given the dynamic business environment that we operate in today, it is an unrealistic and ill-advised expectation. One way for leaders to manage this expectation is to adopt a new role: that of the coach. A coaching approach will help employees understand complex organizations better and get the job done without being told what to do. Successful coaching entails using three practices: Asking, Listening, and Empathizing. 

Asking Open-Ended Questions  -The coaching process starts by asking an open-ended question. Leaders ask questions to establish receptivity to the topic, and it also helps avoid presumptions that could typically limit the conversation. Time spent asking questions will challenge the employees’ thoughts, egging them to arrive at a solution for the problem. 

Hearing vs Listening  – Once a coach asks open-ended questions, the coach must LISTEN – unearth the concerns and challenges, both expressed and implied. Most leaders as Executive Coaches struggle with a situation, as most cannot tell the difference between hearing and listening. Hearing is a cognitive process that occurs internally, but listening is involvement – the presence of the person both in body and mind with a single-minded focus on the conversation. A survey of 8,000 participants in businesses found that the average person only listened efficiently to 25% of conversations. Thus, effective coaches use listening to understand the context and emotions of those they are coaching. 

Effective listening  – A study conducted across 8,000 participants in businesses found that they communicate as effectively or more effectively than their co-workers. However, the same research showed that the average person only listens at 25% efficiency. 

There’s a great deal of difference between hearing and listening. Listening in a Coaching Context requires significant eye contact and focused attention to capturing facilities expressions, gestures, and tics, which conveys a strong sense of engagement and interest from leaders.  

Empathizing  – Empathy is understanding a different point of view and establishing the interpersonal connection that enables effective coaching. Empathy is critical in helping employees manage their morale and think creatively about solutions. Empathizing shouldn’t prevent leaders from holding people to high standards but is a crucial step in assisting employees build resilience and learn from setbacks.  

Leadership Coaching makes employees feel heard and understood while giving them the leeway to find solutions. It entails asking questions, listening to the employees’ concerns, and empathizing with their challenges. So, in essence, the traditional coaching process lasts for several weeks and months. In fact, in high-performing companies, it is an always-on program. 

While the traditional coaching process is effective over the long term, certain situations may require Coaches to speak rather than listen, a quick and effective resolution. 

There are certain situations in which leaders need to take a direct approach to coach. Click here to learn more.

Guide to effective time management strategy

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It is usual for business owners to feel overwhelmed by tight schedules. Between chasing new leads, attending client meetings, and managing employees, it can be easy to lose track of the number of hours spent in a business. Some business owners work between 16-18 hours a day yet complain that most of their tasks remain pending. A study conducted by Harvard University found that businesses lost $ 65 billion in revenues after failing to meet their required deadlines. Business owners, especially those running startups, SMEs and MSMEs, must focus on honing their time management skills. It is vital on two accounts, to transition from working in the business to working on the business, and secondly, to reduce the loss of opportunities because of the inefficiencies of poor time management.

Why is Time Management Important Strategy for Business Owners? 

As an entrepreneur, you are constantly challenged to do more in less time. Time management skills help you organize, plan, and control the time spent on each task. Unlike employees, Entrepreneurs are their bosses and can decide how they allocate their time between activities; in the process, they often miss out on prioritizing by accountability, thereby losing the plot.

Drawbacks of Poor Time Management Strategy

Poor time management Strategy leads to missed deadlines and rushed submissions, which translates to shoddy output, unsatisfactory or delayed client delivery, and client dissatisfaction.

Over time poor time management adversely affects the health and brand of the organization. Delayed decisions and high pressure on deliverables drive teams to extend themselves, resulting in stress & a strained work-life balance. Unhappy customers bring in bad reviews, increased dissatisfaction, and loss of self-esteem among employees. Disengaged and demotivated employees lead to increased employee turnover earning a poor reputation as a workplace of choice, which further makes recruiting talent a challenge.

Click Here  to Know how Business Owners Can Effectively Manage Their Time 

How to align Business Development and Marketing for Growth?

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Let’s take a fresh look at the two functions and their roles in an organization.

Marketing: The go-to-market strategy decider. A company creates products or services to fulfill demand(s). The end consumer will know of it only once availability is communicated and how it addresses a specific need – implicit or explicit.

Business Development (BD) is the team that front-ends the Customer. They bring in ideas for new products, competitor intelligence, and needs in the market that the organization may be well equipped to address with new and unique products or services. They are the face of the company.

The two teams need to work in unison to amplify the messaging and for consumers to see the offering in the right light. It is critical for creating the personality of the offering in question- the positioning, needs it addresses, whom it’s meant for and what sets it apart from the rest.

The BD team knows the Customer better, and the marketing Team knows the messaging better. The two must come together to arrive at the winning messaging and strategy.

Being as different as chalk and cheese, how does one achieve this?

Sales & Marketing Alignment.

A shared communication system, strategy, and goals to make the marketing and sales work as a unified organization.

Once aligned, the teams can cohesively deliver high-impact marketing activities, improved sales effectiveness, and increased revenue. Some steps the organization can take in this direction includes:

Step1: Create a single customer journey. Create systems and processes to ensure a seamless and consistent experience from the Customer’s awareness stage to being a loyal advocate. Employ CRM

Step 2: Agree on a customer persona. Align on who is the end customer. In other words, create a customer profile. For best results, have the marketing and BD team work on this together. Thereafter arrive at the target market.

Step 3: Align on goals. Both teams aim to grow the company’s sales, but their functional goals and KPIs need to be defined and aligned to realize the bigger picture. Business Plans that arise post the alignment have a higher propensity to succeed.

Step 4. Strategize together. Often the BD lament is, “I know better; I am the one in front of the Customer”. Marketing lament, “I know the product positioning and what the Customer wants.” Sitting together to strategize brings all concerns to the table, resulting in a strategy with a buy-in.

Step 5. Align Roles & Processes. Each views its role in the sales process differently. Understanding each other parts and responsibilities is a must. It needs to be complemented by putting processes in place that allow for seamless communication and information between the two teams to build transparency & trust.

Step 6. Align Systems and Technology to enable both the sales and marketing teams. Depending on your business, choose what is needed. Irrespective of the requirement – tool for drip email marketing, lead management system, or account-based marketing- the approach adopted should keep both sales & marketing informed.

Support each other and flourish together.

Marketing and business development are uniquely positioned to increase revenue significantly. It is vital not to replicate actions and constantly complement each other’s efforts, making seamless communication between the two teams imperative.

To trigger the growth engine of your business & to find how to align both in detail, Click Here

Business Expansion Tips by the top business coach Ratish Pandey

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Running a specialized business offers you a niche in the market. The very nature of business requires you to identify your Unique Selling Proposition (USP) and focus all your communication efforts on the USP, giving you high visibility among your target audience. Like all good things, it comes with its share of highs and lows.
Some of the challenges rear their head in terms of the need for expansion, product or service diversification, competition, etc. Unlike a business offering a traditional range of products / services, this can pose many constraints and complexities in the case of a specialized product or service company.
To consistently achieve long-term growth, offering products / services that evolve with time to stay relevant is the goal for every company. Why should you be different? Without growth, there are no opportunities for staff to grow and develop and less reason for talent to stick around, seriously impacting retention.
So, let’s take a minute to understand the possible hurdles you may encounter as you plan an aggressive growth strategy for business expansion and how you can possibly mitigate it.
From managing volatility to preserving efficiency in a more complex organization, the below are a few tried and tested tips that I believe you will find useful you carve out your growth trajectory.
  • Referrals
  • Analyze Marketplace Possibilities
  • Discuss Different Ways to commercialize Intellectual Property
  • Market Dominance
  • Provide exceptional customer service and support.
  • Add Support Personnel
  • Attract new clients with discounts and promotions.
  • Identify Ways To Systemize Skills
Read the full article Click Here

Growth consultant – why you need one?

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We live in an era of cutthroat competition, with all businesses fighting for the highest returns on their investments. With so many successful companies on the horizon and new start-ups joining the race every day, one must think outside the box to attain their company’s competitive edge. In fact, business  growth consultants  have been game-changers. By providing their affiliated client with excellent and super-effective consulting options, a business growth consultant is integral to the business’s growth and success.

At some stage of their growth, most businesses hit a saturation point where they struggle with the next level of business growth that will catapult the company to the next level. It occurs for various reasons, but the most often, it’s because of a lack of perspective, fresh insights and the absence of a “growth mindset.”

Here is where a Growth Consultant would significantly impact the narrative, helping the company progress in terms of expansion and new revenue sources. Growth consultants also help start-ups, and emerging businesses boost their success.

Before we get into how growth consultants can help your company, let’s look at several scenarios when Growth Advisory and a  Strategy for Business Growth  are the need of the hour.

  • The Results are missing the mark.
  • Mature Businesses Need To Reinvent Themselves
  • Maintaining Employee Morale in the Face of Dynamic Business Growth
  • Bringing a Fresh Vision to Your Business
  • Unlocking Hidden Potential & Opportunities :  Sales, Marketing, Strategy, and Leadership are the  4 pillars  for maintaining consistent  Business Growth.
  • Instilling A Growth Mindset Among Employees & Management

Need an expert business growth consultant for your business? We’ve got your back!

Ethique Advisory  is a top business consultancy in India that offers the most comprehensive consulting services to businesses like yours.

We have years of expertise and are just as passionate as our clients in helping them achieve market growth.

What distinguishes us from the competition is that our emphasis is on developing cost-effective consulting solutions that maximize your company’s efficiency and productivity to consistently create an excellent return on investment.

So, if you’re seeking a perfect growth partner that can help you take your business to the top and reach its goals and objectives smoothly and without hiccups, Ethique Advisory is just what you’re looking for!

To know more about Growth Consulting, book an appointment today.