MSME nurturing event: Venture Doctors, 13th Feb 2010, New Delhi. Register
At the end of the Venture Doctors Business Diagnosis a 'prescription' is issued to the participants.
Some of the prescriptions which have been given to the participants are as below:
Prescription #1
Thank you for coming to the Venture Doctors session.
It was an interesting discussion today and hope you didn't mind the candidness with which we discussed the business strategy. We would strongly advise your company only focuses on two areas, one being retail design and other being product and packaging design.
Mr.X can focus on the first, you on the second and Mr.Y can focus on the delivery for both. As an organization if you want to grow and grow big you'll need to get into bigger retail environments and specialization on the latest that is happening in the field of product and packaging design.
We will meet soon again and discuss your proposal of partnering with Milagrow on some of the solutions with Milagrow's clients.
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Best Regards
Venture Doctors Team
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Prescription #2
Dear Mr.XYZ,
It was a pleasure to meet you for the Venture Doctors session.
At a decline of 25 lakhs this year on a turnover of 1.5 cr of 2009-10 it seems that you are in an urgent need to redefine the priorities of business. You have the constraints of people and finance and keeping in mind these 2 major constraints we would advise you as follows:
Rest the confidence of customers and grow your business with existing customers, even though if it means growing at a lesser margin.
Invest in a very good quality system in your organization including appointing a slightly higher cost quality person to ensure that you never fail your customers and you always have repeat orders from them.
If financial resources required take it from your family rather than bringing a partner from outside because that is a cheaper source of funds and will also put more moral pressure on you to strive harder and not let your family down. It may also encourage your wife to be more involve in your business which will emerge as one of the strongest point at this stage for your business
Although we have been extremely candid about the above suggestions which you rarely find advisors do, we feel this is the sure shot way to stabilize your business and put in the growth path.
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Best Regards
Venture Doctors Team
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Prescription #3
Thank u very much for coming for the Venture Doctors session.
We believe that as a company you need to focus on a strong design department and a strong marketing strategy to establish greater reach across your target markets. You will need to invest in appointing the right people and also invest in technology tools like CRM etc so that you have country and buyer specific strategies to establish and a bigger pipeline of potential customers as well as manage your existing customer for faster revenues.
You will have to build uniqueness in your products in order to generate better prices from the market or else you would always be in Catch 22 situation in matching the crisis of others or loosing the orders.
We wish you great success in your business!
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Best Regards
Venture Doctors Team
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