The needs of new companies are greater now than ever before. They are also easier to fulfill by properly equipped firms offering Strategic Operations Consulting for emerging businesses. Let’s look at the beginning stages:
Congratulations! You have a business!
The plan is excellent, and some seed funding is secured. The partners are all dedicated to the success of the new venture. Everyone is working on fulfilling the goals of the business plan. Some revenue is coming in, and the first six months go well. Things just don’t get better. The team starts considering what they need to improve:
How about a real website? Everyone quickly realizes that a web developer is necessary to compete in the current market. (That wix template didn’t turn out so well.)
How about salespeople? Everyone agrees that some salespeople and a web developer will be necessary. (The founders aren’t exactly Jordan Belfort on the phone.)
How about marketing materials, SEO and SMM? Everyone is certain that a web developer, some salespeople and marketing specialists should be contracted or hired immediately. (That “Fundamentals of Advertising” class freshman year didn’t make anyone a marketing guru.)
Web Developer + Salespeople + Marketing Specialists = All of the Capital (and we’ve just started the needs list)
New and emerging companies need all of the same resources as larger, better established companies - just at a different scale. They need generalists.
Operations Consulting for the young company is about building a foundation that will last. Consultants and firms have to build new companies that are strong and adaptable. They need a robust set of skills that go beyond those of the traditional firm. The best Operations Consultants will meet the new company where it is and build it from there up. Why? Because no startup can afford to pay every specialist they need.
Yes, this means creative pricing and compensation strategies. A real consulting firm can’t be cash-only when it comes to startup ops. It also shouldn’t be equity-only, for obvious and not-so-obvious reasons.
More importantly, it means that a Strategic Ops consultant for a young company has to be willing to work on the entire business concurrently. There’s really no room for a comfort zone, or a lack of willingness to figure things out. Any firm that offers operations consulting to emerging companies must offer complete solutions across all areas of business operations.