|
Small Business Resources
Warren, I am currently an engineering student with a focus towards Nanotechnology and I am strongly inclined towards entrepreneurship. As a potential start-up business, me and a classmate (A good friend and partner) are thinking about starting a consulting business for start-ups and relevant tech companies. Although I realize that good consulting firms consist of experienced individuals, I feel that we can be successful due to the field being relatively new at the moment. Am I being too optimistic or is there a high probability of success?
Hi Uzair, thanks for writing. Based on the information you’ve provided, it’s a little difficult to provide a great deal of guidance, but let me point out a couple of things. If you are consulting on technological applications in which you have some relevant expertise, then you may very well have the foundations of a business. If you are talking about doing business consulting and making your point of differentiation the desire to only help technology companies, you may need to do a bit of work. To generalize your question a bit for others who may be considering the start of a new business, here are a few things to consider: 1) Who? Who are your potential target markets? Describe them with as much detail as possible, both in terms of the company and the individual decision makers within the company. 2) What? What pains do they have? What help do they need? What expertise do you possess or what value can you provide? Is there a match between what you might offer and what they need? If not, there is a problem. What might they be willing to pay for that service? If they have a need but aren’t likely to pay much to have it addressed, then there isn’t much of a business opportunity. If you can see clear value that they are likely to pay for, there may be something there. (Note: before you go spend a lot of time, energy and money, you might want to ask some of these people) 3) Why? Why do they have that need? Understanding what the motivations are for that need will help you craft more comprehensive solutions. There are obviously many more questions that have to be addressed before you launch a business. However, if you get a sense of these issues, you should be able to make a determination as to whether you should proceed further. Good luck! Warren
You have a question for our expert Warren Coughlin? You too can
ASK A QUESTION!
|
| Coupons Deals Expired Deals Features Freebies Forums Links Retailer Ratings Marketplace Canadian Price Comparison |
Copyright © 2000 -
RedFlagDeals.com, a division of Clear Sky Media, Inc. All rights reserved.
(Terms of Use, Privacy Policy)
