TASK CONSULTING GROUP Industry review: Today's competitive business consulting marketplace requires a strategy that will ensure a consistent approach to offering a product or service in such a way that will outperform the current competition. However, if we methodically improve our marketing strategy, we should have a well-defined process for our day-to-day process implementation. It is of little value to have a strategy if you lack either the resources or the expertise to implement it. The business consulting arena is a huge business that generated over a $125 billion in revenues in 2011 according to the U.S. Census Bureau. (U.S. Census Bureau, 2011) This is an indication of just how large and lucrative business consulting is in the U.S. and that there are a lot of consulting firms to compete with. With that we see from the Institute of Management Consultants that there are, “As of May 2007, nearly 500,000 management analysts work in the US, including those employed internally to private and public sector organizations and independent consultants” (IMC, 2007) These are staggering numbers that give us a true scope of what is the business consulting sector. With nearly 500,000 consultants in the U.S. a consulting firm must find a true niche in order to compete with the sheer numbers of consultants that are employed in the private and public sectors. Finding your niche in the business consulting arena is a big key to whether your company will be successful and be around for years to come or whether you will be a flash in the pan. Statistics from Careers-in-business.com tell us this: “Today, technology planning, strategic services and enterprise consulting represent 35 percent, 20 percent and 15 percent roughly of the worldwide consulting spending.” (Careers-in-business.com, 2009) From this we can deduce that a business consulting group has to put its focus where there is a need. You cannot simply state that you are going to focus in only one area if that is an area that is saturated with business consults and there is therefore no growth potential. To survive in this industry you must try and become a one-of-a-kind type of consultant that brings something to the table that is not available from every other business consulting group in the sector. TASK CONSULTING GROUP is driven by a process of changing an organization’s focus on their typical business methods and analyzing the results in accordance with our consulting group. These results will define a roadmap that guide the organization down a transforming path which will help ensuring the future success of our customers/clients organization. This success roadmap of consulting group will assist to our customers/clients through marketing strategy which would include pricing, promotion for distribution and advertising as key components of the overall marketing plan. Other factors such as market share, market penetration, budgets, profit margins, capital investment, financial analysis, demographic changes, government actions, cultural trends and emerging technology will also be addressed. There are several critical and important components to our clients’ business strategy that will need to be addressed to ensure success of our customers/clients. The first critical point will be to turn our clients’ focus to understanding the current competitiveness of their segment in the marketplace? The second focal point will be on their strategy to support their day-to-day operations? Another focal point will be strategies on gaining market share through enhanced market penetration and most importantly understanding their client base. For chasing the above results we focus on below points: ? We separate ourselves as a consultant by showing the current results as well as long-term commitment to the organizations by market analysis. ? Our service small startups which is being continuously maturing industries which need a turnaround i.e. .if a company is “stuck” and their business model is no longer working, “TASK CONSULTING GROUP” brings order to the control the Chaos and make them profitable because knows that living in the bubble of today’s market place and its long term analysis. ? “TASK CONSULTING GROUP” mission is to Change the Paradigm of business to what is to what is possible? ? We focus on the results to our clients that are long lasting and permanent and bring profitability to them. ? Our values as Teamwork, Accountability, Sustainability and Knowledge uses to serve our clients as described below: Teamwork: useful in achieving clients’ goal, mission and values. Accountability: we are accountable to our clients’ organizations and our accountability is at the cornerstone of their success. We give them a surety as a delivery of 100% quality result all of the time or the money back guarantee. Sustainability: Our sustainable development and turnaround businesses are not only make a profit but also making a better world. Knowledge: We provide the knowledge on training and development and it’s affect to the entire organization. Therefore, it’s an awareness that bring Change and Change that is the Action that makes us difference and our motto is “Knowledge through Change affecting our Tomorrow’s.” Our consulting group is fit to the need of our customers/clients organization if they are facing issues regarding the lack of their business where we focuses on the below steps to target the need of our customers/clients as follows: • First we identify their (client organization) business and lacking issues within this business. • Make improvement towards those lacking areas of business and apply our business strategies. • Finally, it would reflect to their business success. Regulation review and legal concerns: It’s a most important decision, what would be location and business environment and this must be right before initiating any business. As “TASK CONSULTING GROUP” where company’s business is to provide better marketing strategy so it’s a good idea to do some research about the zoning rules and regulations for the desired area of the business where we choose a city names as “Miami” this city has a wide range of tools to help us with the business process. Choose this Miami city because in this city U.S. Department of Commerce provides partial funding and this city provides strategic partnering and in?kind cost?share support to the Miami Business Development Association (MBDA) Center that can help our consulting business. If we open our business nearby MBDA center than we can easily take technical assistance to our businesses in: writing business marketing plans; conducting feasibility studies; can identify financing condition and take loan or bonding; conducts. Moreover, they also provide financial analysis and prepare the financial projections which can assist us with various certifications for SBE, DBE, CSBE, MBE, WBE, and federal certifications, provides construction services such as estimating, and sub-contracting leads. The Center hosts a free Quarterly Lunch & Learn series to provide training in Export, Government Contracting, Bid Preparation, and Market Positioning & Branding. Hence, this location would be the best plan to grow up our business. There are several concerns which could be face while registering for the business as listed below: • Registering for taxes at the Federal and State level, we may need to apply for a license with the State of Florida because Florida Department of Business and Professional Regulation are only responsible for the licensing and regulation of businesses throughout the State of Florida. There are many listed licensing recommendations which need to follow for registering this business. • There could be a concern of finding a right location to start this “TASK CONSULTING GROUP” business. • The City of Miami also requires Business Tax Receipt engaging in a business, profession or occupation i.e. need apply for a Business Tax Receipt. • The City of Miami requires a Certificate of Use and a Business Tax Receipt to open a business. All Construction Permit work that may be required must be complete and approved before applying for a CU and BTR. “TASK CONSULTING GROUP”, earn revenues from fees charged to their clients. These could be hourly fees or fees paid as per business requirement. We find the challenges of our clients and effectively manage their time. In a business plan for our consulting firm, the section of marketing strategies is particularly most important for us. We must have strategies in place to continue generate new clients as well as maintain our old clients’. For the first time in Miami city we would follow below steps to achieve our goals of business in this city as follows: Step 1: Determine the scope service within the city that should match our skills and capabilities with the needs of the potential clients within the city as well as nearby of city. Should have to Identify market needs that are serious requirement to our services and it will must solve a significant problem for our clients. Step 2: We will devise points of differentiation i.e. we will be able to articulate by our package of services and different client will get different offer as per their requirement. Step 3: We create a different business model for our client then finalize the services offering for them and what we will charge for each depends upon the clients’ requirement. Step 4: For formulating our marketing plan, we already made our website with key strategies' of the plan where we mentioned that if we think of non-competitive professional services then any clients firm could be reach out to mutually refer clients. Step 5: Prepared a financial forecast which is conservative with according to the type of clients and their projections. Competitive analysis: We are describing the competitive landscape with our competitors that use different strengths and weaknesses approach. Identification of Competition: First element of “TASK CONSULTING GROUP”, must be well conscious of its industry’s competitors as well located in Miami, FL. The organization figure can help in ideal technique for the organization and having finished understanding about the firm's competitors and figure out the market strategy which wants to help in competitive pricing strategy, market consolidation plan, Brand tag value and Competitive position. Consultancy marketing approach depend on the product position strategy in present location, it will evaluate all competitor’s income because they may not have position in market. The firm's location in the industry: Present position of the organization settled by the use of an ideal technique and flow model to present marketing management, new product launch plan and Channel Conflict management plan where different organizations uses different techniques according to their present opportunities and success. However, “TASK CONSULTING GROUP”, has been helping to achieved client’s Goals, missions and Values by using ideal plans. The capability to contend within the industry: “TASK CONSULTING GROUP”, provides the accountability, sustainability and knowledge in servicing their client. These techniques involve such services to the clients, whose are in trouble with their business need and want to swap their way of work. Competitive Market Analysis In a crowded market area, competitive intelligence is critical to both operational and strategic decision making. A rigorous and regular approach to competitive position, strengths and weaknesses and direction can help senior executives; identify gaps and opportunities to help analyze different segmentation strategies. The implications and usages for such learning (messaging) can be highly strategic for new markets or segments to determine better position for our offerings in our on-going promotional activity. Basically, market and competitive analysis is the collection, analysis and interpretation of real-world data to yield a deep and thorough understanding of the characteristics and dynamics of customers and competitors within a marketplace. The main purpose of this research activity is to help our clients make informed, fact-based decisions regarding potential threats and opportunities by providing insight into the nature of their strategic planning. “TASK CONSULTING GROUP” believes that a market and competitive analysis is only effective if it is credible, logical and actionable. To ensure that our analysis has these characteristics has developed a rigorous methodology, the key elements of which are summarized below: ? Hypothesis Development – A written concise statement that reflects a position, requires research to determine its feasibility, and can be tested. ? Research Design – The overall strategy that our company and our clients choose to integrate in a coherent and logical way so that the research is effectively addressed and creates a blueprint for collection, measurement, and analysis of data. ? Data Collection – Employ both quantitative (e.g., phone surveys, mail surveys, database searches) and qualitative (e.g., focus groups, telephone interviews, literature searches) techniques, as appropriate, to collect primary and secondary data ? Analysis and Interpretation – Evaluate data using a variety of analytical techniques (e.g., regression analysis, conjoint analysis) to test hypotheses, interpret findings and provide recommendations Market Segmentation Strategy: All competitors can also use these strategies where opportunities can describe clarity-level and more specific relevance for an organization and its offerings only. But ‘TASK CONSULTING GROUP” have been continuously working with new market strategies, where they handling activities better and leading to greater insights and “clarity” for the organization i.e. how an organization can serve its current and future potential markets. That’s why TASK CONSULTING GROUPS, services are completely different from others where they don’t focus on the analysis for the future expectation of market for the organizations. SWOT Analysis: “TASK CONSULTING GROUP” has a lot of competition in the current market, but our unique approach to consulting is what sets us apart from our competition. For our firm to be successful we must understand our competitors and our own business very intimately so that we make decisions based on our strengths, weaknesses, opportunities, and threats (SWOT). “TASK CONSULTING GROUP”, analysis techniques use planning, market analysis programs, problem solving techniques and developed decision-making processes that span across an assortment of business functions and problem related activities. “TASK CONSULTING GROUP” focuses its expertise on clients’ goals, missions, and values which provide affective solutions. SWOT analysis cover two type of analysis: • Internal Analyses: This includes strengths and weakness of company. • External Analyses: This includes opportunities and threats for company. Strengths Weaknesses a) Provide sustainability and knowledge in servicing the clients for specific knowledge, capabilities, organizational skills development and other qualifications for the success in market. b) Provides complete analysis to clients with their lacking points. c) Observation of curent issues and complète support till the contract. a) Take time in analysis of the complete market where we analyze the data of all the competitors too then start to identify the issues. Opportunities Threats a) Future business to our clients b) Provide benefits and facilities in relation to emerging markets procedure and new technology. c) Make demographic, political, environmental and socioeconomic factors where opportunities existed for consultancy business. a) All of the areas offering opportunities can also pose threats because consultancy marketing depends on experience and business relationship term. For example, if pending legislation might exist, which passed so increase costs related to obtaining special licensing and certification to operate as a consultant part. This same legislation might also present an opportunity within the field by its potential to increase the perception of professionalism associated with the specific type of Consultancy Company References "About Management Consulting - Institute of Management Consultants USA."About Management Consulting - Institute of Management Consultants USA. Institute of Management Consultants USA, n.d. Web. 22 May 2014. "Careers in Consulting Facts and Trends." Careers in Consulting Facts and Trends. Careers-in-business, n.d. Web. 22 May 2014. "Plunkett Research®, Ltd." Consulting-market-research. Plunkett Research, ® Ltd, n.d. Web. 22 May 2014.