Building a Successful Business - Key Demand Drivers, Trends and Best Practices Guide

BUILDING A
SUCCESSFUL BUSINESS
KEY DEMAND DRIVERS, TRENDS
AND BEST PRACTICES GUIDE
Eugene Nizeyimana
@ 2019 SSCG Consulting. All rights reserved

2BusinessSeminar:Buildinga Successful Business
CONTENTS
IINTRODUCTION: START-UPSCHALLENGES 04
ENTREPRENEURIALPOTENTIALANDREADINESS 05
BUSINESS MODELINNOVATION 06
MARKET OPPORTUNITIES ANDPOTENTIALASSESSMENT07
PRODUCTINNOVATIONANDDEVELOPMENT 08
BUSINESS PLANNING(PB) 09
FORMALISINGA BUSINESS INTHE UK 10
FINANCIALPLANNINGANDFUNDING(FP&F) 11
BUILDANDPROTECT BUSINESSBRANDCREDIBILITY 12
DEVELOP GO TO MARKET(GTM)STRATEGY 13
ESTABLISH ANECOSYSTEM ANDNETWORKS 14
MANAGINGGROWTHANDSCALE UP 15
RISKS EXPOSURE MANAGEMENT 16
FOSTERINGAGILITY, RESILIENCE 17
BUSINESS TRANSFORMATIONANDIMPROVEMENT 18
KEY TAKEAWAYS 19
SSCG STARTUPANDGROWTHSERVICES 20
CONTACT US 21

3
INTRODUCTION: START-UPS CHALLENGES
It's a good time to be involved in the start-up scene.
More funding available than ever before, capacity
building support and content on how to start your own
business are easily accessible, and community-
driven coworking and innovation hubs are popping up
everywhere.
Despite the rising popularity of entrepreneurship,
starting up a venture and culture brings its own
unique set of challenges and problems in a rapidly
changing and complex global landscape that its
leaders must overcome. These range from:
• Startup culture
• Personality: Hard work, sacrifice and patience
• Emotional and wellness challenges
• Diversity: Markets, culture products, people
• Resource scarcity
• Rapid consumer and market shift
• New risk exposure and uncertainties
• Time constraints
• Shaping vision, goals and objecting setting
• Technology advancement and innovation
• Managing performance and expectations
• Intercultural communication and ecosystem
BusinessSeminar:Buildinga Successful Business

4Confidential:AfricanBusinessChamberof Commerce Draft Concept
STEPS TO SUCCESS
TURN YOUR IDEA INTO
A SUCCESSFUL BUSINESS
ACCELERATE GROWTH AND
PROFITABILITY

5
ENTREPRENEURIAL POTENTIAL & READINESS
When it comes to turning your entrepreneurial ideas into a business reality.
Establishing your potential and readiness will help to enhance the effectiveness
and success. Understanding of the strength of the characteristics you already
possess, as well as a bearing on the gaps for improvement, in order to aid in
the development of a successful entrepreneurial journey and career.
Some people are naturally predisposedto entrepreneurial success, due to
personality characteristics which affect decision making processes, attitude
towards achieving goals and able to remain optimistic during difficulties.
Start asking yourself right questions to assess entrepreneurial capabilitiesand
the opportunities. You must be brutally honest to establish clear foundation and
the personality traits associated with entrepreneurial ability:
• Why want to start a business? What kind of business?
• What skills and expertise do you possess?
• Individual’s intrinsic motivation, passion, aspiration, vision and ambitions?
• Achievement striving, industriousness and creativity
• Taking Control “Locus of control”
• Levels of persistence and hardiness
• Resource capability and capital availability
• Type of lifestyle you wish to achieve?
• Risk evaluation: Strength, Weaknesses, Opportunities and Threats(SWOT)
Take a self test: https://www.psychometrictest.org.uk/entrepreneur-test/

6
BUSINESS MODEL (BM) INNOVATION
A business model (BM) provide a clear, concise way of picturing how a
business will operates. Ameans of assessing the idea and translating the value
proposition into the potential for rapid revenue growth and profitability. Often
before product development to demonstrates the feasibility of the venture.
For a business to build value and provide compelling customer experience and
quality products at lower cost, need to commit to a next-generation operating
model. A model that incorporates digital technologiesand operations
capabilities in an integrated, well-sequencedway to achieve step-change
improvements in revenue, customer experience, and costs.
Business model innovations that changes the economics of the value chain,
diversify profit streams, and/or modify deliverychannels is a vital part of a
strong innovation portfolio.
New approaches to modelling must demonstrate how the business will:
• Create value for customers (MVP)
• Create and capture economic value, revenue opportunities and profitability
• Integrate a model for the digital world
• Deliver product and services quickly
• Put customer experience at the core
• Identify and allocate resources effectively
Value
Network
Value
Creation
Value
Proposition
Value
Capture
4Vs of a
Business Model

7
MARKET OPPORTUNITIES & POTENTIAL ASSESSMENT
Many concepts and ideas fall short in implementation
due to the absence of conviction, bias assumptions,
over optimism, unintentional fuzzy thinking and
mismatches in the understanding of the market
environment and opportunities.Developing a concise
understandingand to uncover insights of what it
takes to succeed and thrive, understand strategic
and financial impact of their decisions as well as the
implementation risks is critical to a business.
Using a structured, quantitativeand practical
approaches, can help to assess the attractiveness of
the market and industry, evaluate whether the
opportunity is realistic using key demand drivers and
relevant trends, the regulatory and competitive
environment, as well as the tax, legal and labour
aspects which could be critical in the evaluation of an
industry.
Common approaches to assess market entry and
growth potential:
• Michael Porter competitive analysis: Barriers to
Entry, Supplier Power, Threat of Substitutes,
Buyer Power and Degree of Rivalry.
• Identifying the industry life cycle trends:
introduction, growth, maturity and decline.
• Understandingthe forces of demand and supply
reshaping the industry and market.
• Assessing the market position, financials, the
distinctiveness and other developments of a
particular business in relation to the others from
the same industry.
• Identifying the future trends and directions gives
the business required knowledge to react and
steer in the positive direction.
• SWOT Analysis: Risk exposure and breakdown..
• Client segmentation and benchmarking
• Market survey and feedback– Fresh set of eyes
to help pin point out missed problem, create
advocates (Push/ask, feedbackand improve)

8
PRODUCT INNOVATION & DEVELOPMENT
It feels great to bring a product, concept or idea into life. Many start-ups rush
into the development of an idea before truly understanding the requirementsof
a successful product andor validating the financial viability of the opportunity.
Key demand factors:
• Designing customer-centred solution
• Understandingdesign thinking process
• Focusing on simplicity and quality
• Applying lean product development and principles
• Outsourcing missing skills expertise from specialists
• Assembling the right team
• Adopting and integration of advance technologies
• Developing right Go to Market pricing strategies
• Cost containment throughout product development and delivery
• Managing and control of product value chain
• Implementing controls, checks and balance to reduce risks
• Diversifying product portfolio

9
STRATEGIC BUSINESS PLANNING
Developing a strong business plan is vital to the success of any start-up
business. As part of business planning process, entrepreneurs must assess
current processes, analyse data for trends and identify the areas of greatest
opportunity and risks..
A business plan provide the direction or attract investors, can serve several
different purposes.
Developing a robust integrated plan include a detailed strategy around all
aspects of the business: the issues Service or products, finance, sales and
marketing, operations, supply chain, procurement, engineering,market
analysis, organization and management structure, clarity on enterprise
strategy and architecture.
A market beating strategic plan should:
• Tap a true source of advantage
• Be granular about where to compete
• Put the business ahead of trends
• Rest on privileged insights
• Embrace uncertainty
• Not contaminated with bias assumptions or unintentional fuzzy thinking
• Balance commitment and flexibility to transform

10
FORMALISING THE BUSINESS IN THE UK
• Enterprise formalization is mostly relevant for ‘opportunity entrepreneurs’.
Survivalist often do not have the means, knowledge or ambition to formalise.
• Formal businesses benefits from enterprise formalisation in the sense that it
reduces risk exposure and unfair competition by informal firms.
• Formalising enterprises gain access to finance, business development
services and technologies and reduce their exposure to government fines.
• They can also participate in public biddings or act as suppliers or retailers of
larger companies.
• Reducing the compliance costs of being formal (taxes, social security and
labour protection) might be more important than reducing the cost of
becoming formal (time and money required to register).
Various dimensions and step by step to formulise yourbusiness include:
• Business trading name
• Legal business structure
• Registration and licensing with Companies House
• Tax and VAT registration with HMRC
• Banking and financial infrastructure
• Compliance and licensing with regulatory bodies, legal framework: social
security, industry and labour laws.
• Legal protection: Trademarks, copyrights orpatents
• Corporate branding

11
FINANCIAL PLANNING & FUNDING (FP&F)
Finance plays a vital role in every business strategic planning and decision
making. Raising capital and managing finances effectively is critical to minimise
risks, failure and ensure the success and sustainable growth.
There are more funding available than ever before but inclusion and access still
remains especially for minorities. Establishing resource requirement and
sources of funding is key.
Recommended sources of finance and capital:
• Savings and Bootstrapping
• Borrowing - Family and friends
• Grants applications
• Angel investors (PEs) and Venture Capital investors (VCs)
• Crowdfunding
• Startup incubator or accelerator
• Early deposits, licensing or white-labelling agreement
• Small business Bank Loan or line of credit
Financial planning and management accounting for start-ups include:
• Creating and analysing systems, processes, models and internal controls
• Establishing and analysing short-termcash flow and forecasts
• Anticipating scenarios about the company’s cash flow and financial
projections
• Implementing monthly, quarterly, and annual growth strategies

12
BUILD AND PROTECT BUSINESS BRAND CREDIBILITY
Many businesses struggle to sell product and services and generate
sustainable revenues because they don’t know how to position and present
their products and services to attractand retain repeat clients. They don’t
have market credibility to clients outside their circle of influence.
Branding is a strategic presentationand positioning of a business, products
and services to clients in the market place to boost credibility, attract new
clients and sales.
Some of the reasons why strong branding is important for Entrepreneursor
Businesses:
• Boost credibility
• Attract high-paying quality and prestigious clients
• Create potential to charge higher fees and prices
• Allow more business freedom
• Helps to build a better and access to exclusive networks of people
• Will get a business on a better and bigger deals
• Secure stronger strategic partnerships
In the current digital age, brand and reputation are not only among the most
valuable intangible assets – they are also among the most fragile. Brand is
the culmination of culture, vision, values, and identity, which when used
consistently and religiously, can create fresh opportunities for individuals and
businesses.

13
DEVELOP GO TO MARKET (GTM) STRATEGY
How to profitably deliver products and services to customers has become a
defining challenge for businesses today. Customers don’t just expect more, the
expectations themselves also change quickly, radically shifting profits.
Businesses also face an increasingly complex landscape of technologies,
methodologies, and both regulatory and compliance pressures to ensure that
new processes are standardised and traceable. Global distribution supply
chains landscape is also transforming, creating new risks and areas of
uncertainties.
GTM is about utilising both inside and outside resources (e.g. sales force,
channels and distributors), to deliver unique value proposition and experiences
to customers to achieve competitive advantage:
• Use timely targeted messages to make customers, partners, and employees
aware of the new value proposition.
• Integrated digital enabled processes and leaders
• Capture and analyse customer/client’sfeedback
• Review sales trends and financial performance
• Deploy lean and agile processes to speed delivery to market

14
ESTABLISH AN ECOSYSTEM AND NETWORKS
The face of the business continues to be redefined,
which means emerging ecosystems of
interconnectedbusinessesare transforming how
companies serve customers and fulfil market needs.
Traditional businesses are facing an unprecedented
threat to the way they operate. Thus getting the
speed and scale necessary for a reinvention
increasingly requires an ecosystemof external
teams, partners, suppliers and customers. In
practice, this means working with a mix of platform
players, delivery specialists, and niche players.
Develop a network of partners who can rapidly scale
your ambition.
Relationships in an ecosystem take many forms.
Some are build in ecosystemflexibility of
transactional and informal. Others are built on myriad
structures, from joint ventures to mergers, exclusive
and nonexclusive partnerships,and other
arrangements. Theseare the relationships that
businesses can call on to provide specific skills and
capabilities quickly. Any effective ecosystemstrategy
depends on understandingwhere the value is.
Ecosystems have three defining characteristics: use
network effects that give businesses a strategic
scale advantage; integrate data that helps create
value-added products and services, and superior
experiences, for their customers.
Ecosystems also present several clear benefits:
lower customer acquisition costs, provide access to
data and opportunitiesto monetise, enhance
customer relationships and retention; provide
valuation upsides and help maintain
competitiveness.
Common six distinctive ecosystembusiness models
that improve profitability include: Four that increase
the top line: the acquisition engine model, the
platform model, the multi-business ownership model,
and the data monetization model. Two that increase
the bottom line: the asset/resourcesynergy model
and the infrastructure and capability enabler model

15
MANAGING GROWTH AND SCALE UP
All businesses go through lifecycles from starting to maturity. Each cycle
presents its own sets of opportunities and challenges. To accelerategrowth and
scale up, businesses must achieve and establish common attributes of high
growth businesses, include:
• Establish market validated and scalable operating business model
• Define and execute a robust market leading strategic growth plan
• Prioritise profitable and importance opportunities to boost performance.
• Saying “no” to clients they simply can't serve or poor business proposals
• Harness innovative and entrepreneurial leadership
• Break the cult of inform ways of doing things to build and manage team
effectively by setting clear goals, expectations, protocols and culture
• De-risk business operations: breakdownand minimise risk exposure
• Re-design operation processesfor efficiency and effectiveness
• Establish digital enabled mature infrastructures and documented processes
for prioritizing, periodic reporting and measure performance
• Focus on establishing new sources of customervalue to enhance product
and service value (MPV) and new experience
• Innovate and diversify product portfolio
• Finding opportunities beyond their core customers, growth in mature
markets and in new territories and segments
• Boost Go to Market speed: Supply chain locations vs customers
There are many diverse dimensions to accelerate growth: M&A, market
diversification, partnerships, new offerings and value proposition.
ACHIEVING
TOP AND
BOTTOM
LINE

16
RISKS EXPOSURE MANAGEMENT
In a rapidly evolving global landscape, emerging risks are affecting businesses
more than ever before. Businesses can both rise and fall with astonishing speed
as new customer needs, solutions and delivery approaches are uncovered. To
succeed in the current volatile and dynamic markets, businesses must adapt,
learn, and find new solutions quickly to do more than just retain market position;
thrive, whatever disruptions come their way.
While there are many reasons to why businessesfails, ranging from owner's
skills, shifting markets, inadequate capital to collapsing simply due to lack of
customers. Start-ups and SMBs often begin their journey without a definitive
culture, which often leads to internal challenges, conflicts, disappointments, and
employee turnover. A great product, service or business can easily fail without a
strong culture, clear business goals, and a proven delivery methods. The
majority of small businesses fail within five years of starting up.
Risk management need to get on the front foot and must be embedded within
the culture of the business, with a management framework embraced by
everyone. Businesses must define their vision and ambitions. Need to be more
agile, quicker to react, and more effective. See risks as opportunities to deliver
great customer experiences, optimise technologies to cut costs, improve quality
and governance oversight,and build value. To remain relevant and competitive
players in today’s marketplace, need to deliver products and services faster and
better than competitors. To achieve this, they must build lean processes that
responds quickly and effectively to customer needs.

17
FOSTERING AGILITY AND RESILIENCE
HOW STARTUPSAND SMALL BUSINESSES CAN HARNESS AGILITY AND
RESILIENCE TO MANAGE RISK EXPOSURE FOR GROWTH
There are a few things to consider when driving improved agility and resilience
throughout a business’s cultural and operational shift:
• An effective strategy to foster an agile and resilient culture starts with
making better understanding of market dynamics, business risks, exposure
levels and defining deployable actions to be taken. Design in scope for risk
and experimentation. Structure process to minimise risks. Avoid unqualified
and poor proposals, ventures and clients
• Adapt planning cycles and deliverables to the needs of the business and
changing trends. Monitor shifting market trends and factors for changes in
business climate for realignment.
• Define contingency plan on how to respond to eventualities such as facing
adversity and building resilience. Evolve the way risks are managed from
‘reactive’to ‘offensive’. Build the understanding that resilience isn’t just
being tough; are skills and behaviours that can be develop. Implement agile
practices and foster resilience in all operations.
• Using historical marketing and sales data to determine and define informed
business decisions, future strategies, reasonable goals and expectations
• Understand all element of scaling and consider how your technologies can
tie into the broader ecosystemof technologies and platforms outside your
business.

18
BUSINESS TRANSFORMATION AND IMPROVEMENT
Moving the business into the top income and performance quintile, or even
improving within it, can be a challenge. Businesses have to embark on
journeys to transform their operating models to thrive, enhance efficiency,
value, performance and profitability.
Leading approaches and capabilities to help make sustainable changes to
drive the next-generation operatingmodel transformation and improvement for
consideration involve:
• Assessing the maturity of the management system for innovation
• Putting customers/client’s feedbacks at the core
• Using advanced analytics and intelligence to support decision making
• Making an honest objective assessment of talent and capabilities
• Making incremental and continuous improvement as a culture
• Increasing productivity gains
• Scaling a transformative culture through a digital factory
• Digitizing customer experience and enterprise wide operations
• Introduce Intelligent process automation (IPA) to replace human tasks
• Drive the next wave of process outsourcing/offshoring through Business
process outsourcing (BPO)
• Implement process redesign and streamlining for efficiency and waste
reduction
• Linking journeys to operations and value creation to deliver breakthrough
solutions and customer experiences
• Harness innovation and entrepreneurial culture to create next gen solutions

19
KEY TAKE AWAYS
Businesses, entrepreneursand leadersmust:
• Adopt a holistic approach to managing risk to help create sustainable
growth, achieve business goals, enhance innovation, build credibility and
achieve business resilience.
• Ensure operating model innovation is at the forefront of the corporate
agenda to align with market trends and factors.
• Reinvent by transforming beyond the core is critical: Value proposition,
People, Processes, Technology
• Constantly find new ways to solve problems, increase productivity, and
edge out competitors to stay current and profitable.
• Develop a clear view of where value is being created and destroyed as the
basis strategic planning. Understand what the next sources of customer’s
value and choices are, and how to link experience to operational
improvements
• Adopt best-in-class practices to continually test their assumptions,
processing new information more accurately and reacting to situations
more quickly with increased oversight.
• Develop the ability to continually revolutionise and build upon pre-existing
concepts to help produce a vast number of wining models and solutions.
• Adopt a holistic approach to managing risk to help create sustainable
growth and analytics to identify valuable business opportunities.

20BusinessSeminar:Buildinga Successful Business
SSCG STARTUP AND
GROWTH SERVICES
FIND OUT HOW WE CAN
HELP TO TURN YOUR IDEA
INTO A SUCCESSFUL BUSINESS

21
SSCG STARTUP AND GROWTH SERVICES
If you have an idea or concept you wish to bring to market or grow it into a business. Whether you’re a start-
up or on the track to growth. SSCG Team can support you to increase success.
BusinessPlanning
BusinessStrategyand
Growth
BusinessModel
Development
Product and Service
Development
BusinessProcess
Management (BPM)
ProjectPortfolio
Management

CONTACT US

23
CONTACT US
Eugene Nizeyimana
CEO
SSCG Consulting
E: Eugene.Nizeyimana@sscg-group.com
T: + (44) 121 364 2000/ 7873150562
Interested in starting a new venture and idea? And/or
looking to grow and scale existing Startup? Contact
us to discuss your needs and identify how we can
help.

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