Business and Professional Services
Some of the challenges facing small businesses:
- Defining a clear business and technology strategy
- Determining the overall company strategy
- Defining an aggressive Marketing strategy
- Finding the right qualified resources to grow your business and generate sales
- Managing and understanding when to reduce expenses
- Managing and monitoring cash flow
- Receiving loans and gaining access to capital
- Providing solid management across all disciplines
- Having no succession, exit or retirement strategy
- Utilizing the right technology to improve efficiencies
- Dealing with government regulations and the tax environment
Your small business is important to us. Let us help you overcome some of your challenges. There is no need to go it alone. We have mentors who can really help solve your weaknesses and get your business on a controlled growth cycle.
Proactive approach from Business Mentors Hands-On
If you were given the option to work with seasoned experts offering a fresh perspective and proven systems to help you achieve your business goals, would you take advantage of that opportunity?
Nextech business experts work with business leaders who are seeking solutions that help them navigate through the challenges of business growth to build an extraordinary business. Our multidisciplinary team of business owners works with clients to provide clear direction and practical, differentiating solutions focused on achieving strategic results.
We understand the unique issues faced by small and mid-sized businesses. We will work with you to eliminate the obstacles preventing you from making the best decisions for your business.
71% of small businesses have no cyber security of any kind deployed.
59% of small business owners say its harder to run a small business now than it was just five years ago
60% of small business owners say finding skilled professionals for the job is a major challenge
64% of small business owners feel overwhelmed by the number of technologies available to run their business
49% of small businesses have no website despite the fact 97 percent of consumers search for products and services online
47% of small businesses have no data backup or disaster recovery solutions of any kind in place.
Small businesses are the forefront of our economy. In fact, every minute a new business in the U.S. is started. According to comprehensive research, more than 50% of all workers will be self-employed by 2020.
Small Business Owner Challenges:
Cash flow is always an issue
Bank not extending facility for overdraft
Cannot get overdraft have no personal funds to invest
Weakness in implementing e-marketing and also having issues with I.T.
Need to increase sales e.g. currently $3,000,000 just cannot raise it, eroding margins as well
Under-utilizing personnel and going it alone – not enough time in the day to do everything
Cannot afford more staff, despite time constraints to undertake the required work.
Have constant problems with your Network even after getting experts to try and resolve, also experiencing issues with few user computers.
Constantly need to upgrade server to allow for more and more storage. Too costly requires need to find a long term solution. IT department is demanding more expenditure on servers and software while ROI is very weak.
Business has stagnated, turnover remains the same but margins are falling. Not sure how to increase revenue.
Sounds Familiar Then you need our help. Call us today. Dont waste another minute.
Small Business Lifecycle Challenges
Starting a new business is always very gratifying. The first two years in business can provide a false sense of success and security. The real challenges occur in the third year. It could be a win or lose year. It may even be forced to consider continuing or closing your business. Avoid this pitfall and ask for help.
Year 1 Overcome business startup obstacles, launch business, get marketing and sales commence going, and get all other business principles in place. Confidence level is high as is the adrenaline. Completed first year produces a small loss but aiming for a profit next year.
Year 2 Plan to make a profit this year, have a few challenges with receivables (accounting) causing a cash flow problem, need to increase facility at bank, find and take on few employees, and keep it all together. The second year is completed with a slight profit but sales were down. Now you’re confused and not sure what to do next.
Year 3 Sales are flat first quarter, made less margin on services and products. Not keeping in touch with customers is a weakness in marketing, have been advised to do a SWOT analysis but dont know how and also no time, too much to do. This year you made a loss larger than Year 1 and unless this can be turned around, your business will be forced to close in Year 4.
Sound Familiar Rare is the business owner who takes time to honestly asses strengths, weaknesses, and threats to their business. Business owners typically will have a vision for their business, but no workable strategic plan for sustaining and growing the business.
This is when an assessment from us becomes invaluable. This will not take much time for the business owner. We do it correctly and the results can be exponential.
Our Business Assessment includes, but is not limited to:
- Executive Interviews
- Financial Trend Analysis
- Marketing and Sales Plan Review
- Review of strategic plans, historical and projected financial statements
- Organization effectiveness and Strategy effectiveness analysis
- A written report and presentation summarizing our findings and recommendations