10 Tips for Consulting inFrontier Markets

Monitor Cash Flow Daily

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It’s all about cash – don’t get hung up by profits.

Make a spreadsheet with cash flow projections for the next 12 months and keep track of every penny going in or out.

Keep Costs Variable

Keep as many costs as possible variable, even if that means higher short term expenses.

Only if it has proven over and over again that you ‘need something’, acquire it.

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Be Flexible About Your Business Model

3

Stick to your vision but be flexible about your business model.

Be clear on where you want to go but be flexible on the path you choose.

Take the Pricing High Ground

4

Keep a healthy price difference between the ‘opportunist’ and yourself.

Keep the difference ‘digestible’ between the “value” product and your perceived, high-end one.

Be Generous

5

In most parts of the world, businesses are relations based.

Build relationships with your customers by responding within, 24 hours, give first without expecting anything in return, delivering with quality

and staying in touch

Design “Fool Proof” Service Delivery

6

Make your business ‘foul – proof’. Don’t make it dependent on a specific individual(s).

Make your business process based, with clear SOP and policies so operations are not dependent on one or two people.

Base Your Fees on the Value You Generate

7

Always have a menu of pricing options based on the value customers place on the product.

Let different customers pay different prices for the same thing based on how they value the product. Help customers do an ROI on the

investment they make, even if it’s guess work.

Be Unique

8

Create competitive advantage by being unique.

Think about what customers value and package it in a way that no other competitor is providing. Be so unique that you become the only good

option.

Build a Reputation

9

Use in-bound marketing to create thought leadership in a unique area.

If you become a thought leader, you won’t have to “cold call people”. Let potential customers become aware of you so that they’re coming to you

instead of you going to them.

Keep on Learning

50% of your knowledge is no longer relevant after a couple of years –keep updating it!

Online workshops, webinars, blogs – anything that you can keep up with. Use them to update your knowledge base.

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10 Tips for Consulting inFrontier Markets