BizBites by Ethique Advisory

Running a specialized business offers you a niche in the market. The very nature of business requires you to identify your Unique Selling Proposition (USP) and focus all your communication efforts on the USP, giving you high visibility among your target audience. Like all good things, it comes with its share of highs and lows. Some of the challenges rear their head in terms of the need for expansion, product or service diversification, competition, etc. Unlike a business offering a traditional range of products/services, this can pose many constraints and complexities in the case of a specialized product or service company. To consistently achieve long-term growth, offering products/services that evolve with time to stay relevant is the goal for every company. Why should you be different? Without growth, there are no opportunities for staff to grow and develop and less reason for talent to stick around, seriously impacting retention. So, let’s take a minute to understand the possible h...

In today's article,  Business Coach Ratish Pandey  will discuss a topic you suggested – Given the Uncertain Economy, how can BusinessesAdapt .  As in a human being, for business, too, it is the mindset that defines adaptability. The frame of mind is to accept change, respond to it, and adapt effectively. We have to remember that change is only CONSTANT.   In times of drastic, unexpected change, as we faced during the pandemic, it is the time to open your mind – seek counsel, share ideas, brainstorm, and learn unashamedly from others about how they are addressing the situation, what is working, what is not.    It is time to challenge the traditional approach to business. One must explore and welcome new ideas and ways to run one's business. In today's context, technology adoption across the organization is one new entrant that all companies cannot avoid.    Next is keeping the ear to the ground. See how the change is impacting your cu...

Growth consultant We live in an era of cutthroat competition, with all businesses fighting for the highest returns on their investments. With so many successful companies on the horizon and new start-ups joining the race every day, one must think outside the box to attain their company’s competitive edge. In fact, business growth consultants have been game-changers. By providing their affiliated client with excellent and super-effective consulting options, a business growth consultant is integral to the business’s growth and success. At some stage of their growth, most businesses hit a saturation point where they struggle with the next level of business growth that will catapult the company to the next level. It occurs for various reasons, but the most often, it’s because of a lack of perspective, fresh insights and the absence of a “growth mindset.” Here is where a Growth Consultant would significantly impact the narrative, helping the company progress in terms of expansion and n...

Executive Coach Coaching in a Business – How important is it? There is never a moment in the career of a successful leader when they do not appreciate the guidance that helps them develop their leadership abilities, increase employee engagement, or improve corporate performance. So the question arises of whether to hire a business coach or an executive coach That is why it is necessary to know the various types of coaching available to make an informed decision. It is especially tricky if you are new to professional coaching. The variety existing in coaching services, coaching niches, and areas of expertise make it tough to find what fits well for you. Broadly, several types of coaching can be divided into executive coaching, business coaching, life coaching, and career coaching. To determine which form of coaching is the one that will help you attain your personal or professional development objectives, you must first understand what each service comprises and who is it best suited fo...

Business Growth Crafting a business growth strategy isn’t a one-size-fits-all affair. Given the fluctuating market dynamics, modeling strategic plans on the triumphs of others would be a folly. One should not mistake this for not learning from other businesses. Instead, it suggests that employing a cookie-cutter strategy is not an option. Your strategy should smoothen out inefficiencies in your organization and hone its strengths to suit your clients- who are unique to your organization. Remember Specific is Terrific. More specific the strategy, the more the probability of success. If you draft your strategy focusing on your business and customer, the resulting actions will more likely result in customer delight. Which will keep your customers content and keep them coming back. Factoring in business data analytics to  draft a successful strategy  is a must for a greater understanding of your business and its complexities, which will impact the way forward and the growth. The k...