ADVISORY or CONSULTANCY?
Why SMEs Need Advisory Services
SMEs often start their life as manufacturing companies and their organization structure is highly production centric. As they grow, their needs evolve. From being a master of one trade, they have to become a ‘Jack-of-all-trades’.
They need to create a vision for their organization, and a sustainable strategy that builds on existing strengths. Functions such as Sales, Marketing, Business Development, Finance, HR, etc. can no longer be roles managed by individuals. They have to evolve into independent departments with leaders who are specialists in their respective areas. While this transformation can be championed by company promoters and management, the path can be long and filled with trials and errors.
An advisory service, as the name suggests is much different from a consulting service. Advisors are expected help a business in answering the most basic, existential questions and get deeply involved in shaping the future of the business. Their services are usually long term contracts, guiding business thru startup, growth or turbulent times.
Advisory services give clients an access to the rich experience of the advisors who have a substantial knowledge and exposure in a particular industry. By associating with advisors, SMEs can make huge savings by avoiding initiatives that are less likely to succeed, allowing them to allocate the resources to other critical areas. More importantly, advisors have ready solutions to problems that SMEs face, thus allowing them to save time and move up the learning curve rapidly.
Advisors add value to SME in many other ways:
1. Asking the right questions: A company’s vision, mission, values, and goals influence all its decisions and strategies. By asking the right questions and encouraging introspective discussions, advisors can help the promoters and the CEOs to crystalize their thoughts and ideas into guiding principles.
2. An unbiased perspective: When dealing with critical issues, the opinions of employees may be biased, skewed, or heavily influenced by a few strong personalities. An expert advisor takes a circumspect view and provides a neutral, outsider view so that the promoters and CEOs can take an unbiased call.
3. Improving team competencies: Smaller organizations lack the depth of experience that big companies have. Regular interactions with experienced advisors enhance the knowledge and skill base of in-house teams.
4. Policy and SOP making: Policies and SOPs are the rules that the employees have to follow to ensure that work happens in a smooth, systematic fashion and without a need for constant supervision. Poorly drafted policies and SOPs can make work inefficient or create issues that the management has to deal with. An experienced advisor can preempt the issues, recommend corrective changes and also benchmark them against the industry leaders.
5. Higher success to failure ratio: Every business has its share of success and failures. With good advice, the failures can be reduced, putting the business on a faster growth trajectory. Success also increases the management’s business confidence and company’s standing amongst clients and competitors.
OUR ADVISORY SERVICES
Our Sr. partners provide an Pan Organization level or a SBU level advisory service. An extensive audit of structure, processes, product portfolio, various functions, policies, P&L etc. to understand the current status before providing any guidance.
- Providing strategy leadership to SMEs
- Provide outsider perspective to C-suite executives for unbiased decision making
- Benchmarking key business metrics
- Creating a multi-year plan for building strategic advantages
- Incremental improvements in processes,
- Building inhouse team competencies to meet goals.
- Business transformation roadmap
- Building vision and setting long-term milestones
Consultancy services are short term or long term engagements for achieving focused goals or providing outsourced services in areas where clients do not have an in-house competencies.
We offer a range of consultancy services for domestic or exports businesses.
We offer a wide range and end-to-end solutions for SMEs for their domestic operations. We can identify issues affecting your business or roadblocks to your growth and implement solutions to rectify them in a measurable and time-bound manner. Examples of the service we provide are:
- Deep dive business health analysis with financials, structure, portfolio, policies, MIS, and workflow review with course corrective measures
- New SBU creation with therapy-based portfolio and positioning strategy
- Organization structuring and manpower planning for sales force expansion
- Enhancing yield per doctor by improving customer engagement and a targeted product basket.
- Filling gaps in the portfolio thru 3rd party products & creating a complementary nutraceutical basket.
- Brand building strategies and campaigns for higher in-clinic impact, ATL or BTL strategies for OTC & OTX
- Using digital marketing and social media for increasing brand visibility & impact
- Creating OTC portfolio for additional business via non-traditional channels
- Listing on online pharmacies like 1mg, Apollo, Pharmeasy for targeting GenZ
- Mentoring and upskilling the leadership team to feed the company’s future growth needs
- Outsourced Department Services:
- Strategy Dept.: Monthly review of sales, performance metrics, and P&L and report on concerns. Quarterly trend analysis report with guidance. Annual budgeting support and new product launch planning
- Marketing Dept.: Complete GTM strategy, positioning, branding & collaterals creations for full portfolio & new products
- Training Dept.: Technical (medico/ marketing) and soft skills training with customized content creation for Medical Rep induction & ongoing training
Pharma exports are fundamentally different. Clients burn millions & waste years before realizing it. Unlike other industries, mistakes in dossiers and submission process can mean a significant increase in launch cost and delays in launch timelines. Unprofessional work can derail a company’s export ambitions.
We don’t just open markets; we create a long-term strategic roadmap for your business.
KEY ISSUES THAT WE ADDRESS
- Finding financially sound import partners that are a good fit for your portfolio
- Help in overcoming regulatory hurdles
- Creating a competent exports team with relevant experience
- Risk mitigation plans
- Vetting agreements or re-drafting to avoid unnecessary legal obligations
- Crisis management involving disputes with local parties
- Exiting partnership agreements on agreeable terms
- Accelerating /resolving long pending regulatory or MoH-related issues
WHY ETHICAL MARKETING?
- On ground sales team offers better control for country operations
- 100% control over marketing, promotion and order generation
- Brand building & customer loyalty for consistent business
- Higher profitability per unit
- Own IP & trademarks
- Creation of overseas assets
- Tested model of all successful pharma MNCs
- We build your exports infrastructure (front end), select local partners, register the company and products
- We operate exports business, recruit and supervise sales team & support functions, negotiate orders, execute marketing plans
- Once the exports business is functioning without supervision, transfer leadership back to client
For a detailed presentation or more information contact us
Email us : email@example.com
Whatsapp: +91 9930 471 573