The client had an idea to start a procurement agency in UAE. It had some basic research and needed a business consultant that will push the way forward. In essence, the client needed Market Research, Business Plan, Lead Generation for the UAE Procurement industry.
Our first service was the business idea definition. With the use of the Business Model Canvas (business model generation), we defined the business idea first.
Secondly, we did an extensive market research in UAE for the procurement industry. The research included PESTL model, covering the political, economic, social, technological and legal aspect of the business. In addition, we reviewed all existing competitors, their key strengths and weaknesses, as well as benchmarked from other alike companies from around the world. We also reviewed all Free Zones in UAE because of the client’s interest in starting the business in a Free Zone.
Thirdly, the findings from the extensive research were used to create a business plan – defining the company strategy, product/service specification, organizational structure, value proposition, and go-to-market strategy. The business plan also included risk assessment, as well as the financial model covering different scenarios and their impact on the income statement, balance sheet and cash flow.
Finally, we’ve made a test on the business concept, by identifying 500 targeted companies, tracking the targeted position within each, including their contact information and initializing contact with a personalized e-mail offering client’s services and monitoring their feedback.