Vineet Jain, Founder of Dial-A-CFO, while expressing his views on the deal said “I put in blood & sweat to nurture my ‘Dial A CFO’ baby and am glad to pass on its reigns to DNA Growth which may see this acquisition as a natural extension of their capabilities.”

“I and Vineet have known each other for a long time….we humbly welcome Vineet aboard DNA Growth as its mentor” stated Akshay Jain, Founder, and CEO of DNA Growth.

Under the terms of the deal, Dial-A-CFO’s entire business portfolio will be owned and managed by the DNA Growth parent company DG Growth Ventures Private Limited. This acquisition by the company will help it in making its presence stronger in the National capital and its surrounding regions. Dial-A-CFO offers services like ‘Interim’ CFO Services, end-to-end support around Fundraising, Taxation, Financial Engineering, System (ERP) and Process, Business Support, etc.

The post DNA Growth Acquires CFO and Finance Effectiveness Services Firm Dial-A-CFO appeared first on DNA Growth.

Importance of Business Plans for Restaurants

A restaurant business plan, as said above, is an indispensable document for your business, especially in the current times. Due to Covid-19, anything that can go wrong has gone wrong for many restaurant businesses. Which is why crafting a business plan can give restaurant owners a roadmap to re-establish their operations. Even entrepreneurs, who are looking forward to opening a restaurant, need to make a business plan to analyze the market conditions and trends, analyze competitors, gain a better understanding of their target market, create an operational and financial plan and finally have a guide to help them realize their vision. Not to forget how a business plan is also a significant document if you are looking forward to seeking funding for your business. You need to have your restaurant business plan ready to approach investors and convince them to invest in your business. A well-crafted business plan is extremely important to communicate your business idea to the investors and it also shows how serious and sincere you are towards your business. Even if you are looking for a bank loan, you need to make a business plan.

Now, having a business plan does not mean that things may never go wrong but it will help you stay focused and also make your business resilient. Having said that, the need of a restaurant business plan cannot be stressed enough. It will prepare you for what the future may hold and help you drive the business to achieve your goals.

How to Write a Restaurant Business Plan?

A restaurant is much more than just an eatery or a hangout spot. It is a dream that has been given shape by a passionate entrepreneur. However, statistics have shown that around 60 per cent of new restaurants fail in their first year while 80 per cent have to shut down their business before the fifth year. The report also revealed that the main reason behind the failure of the venture was the lack of a solid business plan.

To become a successful restaurateur, we suggest you sit down and chalk out a plan first. Opening a business is easier than maintaining its standard and building its popularity. Having a business plan will also help to attract investors and pitch your idea concretely. So, here are a few components of the business plan that you can consider before creating yours.

• Executive Summary: 

The executive summary should always start a business plan. It is a brief description of what the business will entail. Having the entire idea of the restaurant scripted down in front of you can help in identifying the loopholes.

This section of the document should be kept short and relevant. When a potential investor first looks at the business plan, the person should be drawn to the rest of the idea.

The essential elements to include in the executive summary are:

• The reason for choosing this business segment
• The Proposed Idea
• Plan for execution
• Problem statement
• A brief look at the costs involved
• The Expected Return on Investment value.

• Company and Management Summary:

In this section, start by introducing your company. State the name that you have decided upon for the restaurant. Give the owner’s details and enlist their areas of expertise.

In the latter part of the section, analyse the management that you would require for the establishment. Some restaurateurs prefer to hire an external team for managing the customers and the front desk. However, if you are new to the food industry and are still a little apprehensive about hiring external help, try to involve the family in the management department.

Discuss the legal standing of the business and make sure to spotlight the short and the long-term goals of the restaurant. Explore the current trends in the industry and study the areas which could help your venture stand apart from its competitors. Make sure to know the different licenses and permissions that you would need to acquire, especially before serving strong beverages.

• Market Analysis:

Market Analysis is one of the most important facets of choosing a career path. So, ask the important questions before you decide to give shape to your dreams. You need to find the factors that will attract customers to your restaurant over the others.

Inspect the competitors. Study the places which are well-known and are popular among both customers and food critics. Take a note of the interior design, the menu, the prices, the open hours and other aesthetics involved. Most importantly, identify the areas where you can set up your shop that will help you to have the kind of reach that you are expecting.

• Restaurant Design:

Designing a restaurant is not just about aesthetic pleasure. It also has a lot of science involved in it. You can show off your thought and ideas to help visualize the place. If you have the budget, hire a professional. Professionals can help you inculcate your theme and give you a reality check about which design would appeal to the diners. Intricate details like the correct placement of the air conditioners can play a huge role in providing the right ambiance.

• Financial Plan:

If you are not equipped with all the knowledge required in financial planning, hire external help. Planning the budget for your venture is the most crucial part. An experienced professional will be able to give you the right estimates and the costs that you would have to incur. Prepare for continuous cash flow and do not depend only on bank loans. Always have a lump-sum of savings that can be readily invested in the restaurant.

Make sure that you are prepared for losses in the initial months. Building a loyal customer base takes some time. So, have surplus funds ready.

Consider the number of seats that will be present in the restaurant. Calculate the food cost too. There are many free food cost calculating software available online. It will help you to decide on an approximate profit margin per dish.

• Location and Target Customers:

Identifying your potential customer is the biggest step before setting up your restaurant. The location can be decided upon accordingly. Look for start-up incubators that might provide the ideal space at a discounted price. Based on your funding, you can decide to opt for renting or buying the space. Famous restaurateurs also believe in starting small. It can act as the testing base before working on expanding the venture.

• Setting and Testing a menu:

The menu needs to be dynamic. It is always advisable to start the business by playing to your strengths. Don’t go for too many items. Focus more on the quality, portion and taste of each serving. Before consolidating your menu, invite your friends and families for tasting. Use an anonymous method of ballots for getting honest feedback on the food.

Analyse the market before deciding on the price for each item. Do not keep it too low where you start incurring losses and don’t keep it high either where the sales drop. Move with the current trend.

• Marketing Strategies:

Once you have a loyal base of customers, don’t depend only on them for the sales. These days, social media plays a huge role in marketing. Spruce up your advertising campaigns and consult with professional advertising agencies to increase your reach. Be active on platforms like Instagram or Facebook where you can even get the opinions of customers through polls. Hire an external PR team for better results. Offline Marketing like hosting events, distribution of pamphlets, radio mentions and even connecting with the community can be beneficial too.

Always focus on creating a positive buzz around your restaurant. Invite food critics and food bloggers to write reviews for your restaurants. Once you have set up the establishment, work on giving back to society. Work on a proper waste disposal system and count its set up cost in your initial plans. If you have leftovers frequently, accept the need to change the menu. Feed the poor instead of throwing out food. Try to go eco-friendly with the apparatus used in and around the restaurant. It can help with both cutting costs and benefitting the environment.

Bottom Line 

Crafting a business plan can become a difficult task because it requires a certain level of expertise. Many restaurant owners do not make a plan because of how tedious the process is. But it is important to note that lack of planning and strategy is the main reason for the astounding rate of failure in the restaurant business. Even if you may have a plan in mind, it is imperative to have a written document so that you can refer to it as and when you feel like. A business plan can also help your employees, and investors get a clear idea of your business. So if you want to craft a business plan for your restaurant but feel like you need a professional hand to help, you can also get in touch with DNA Growth.

DNA Growth

DNA Growth is a global professional service provider specializing in Business and Financial Planning. We have over three decades of Company experience and almost 150 years of cumulative professional experience in executing business planning, market research and financial analysis globally. We aim at helping clients grow their businesses for the long term in a risk-efficient manner.

The post How to Write a Business Plan for Your Restaurant? appeared first on DNA Growth.

What is Strategic Planning?

When you’re starting out a business, you cannot go into the market without preparing for it. This would require a multidimensional and multilayered approach that would look like a well-formulated action plan outlining the strategies for your business to enter the market, flourish, stabilize, deal with setbacks, revive, stabilize and flourish again – all this while making a profit.

Such a comprehensive preparatory process can be understood as strategic planning when it outlines these aspects:
– Company/business priorities
– Company goals
– Operational requirements
– Operational dynamics
– Resource allocation
– Risk evaluation
– Result and goal evaluation
– Change and disaster management

Strategic planning is more of a journey rather than a mere step in the process of building a business. While some may know it as strategic management, others know it as the art of creating strategies for businesses.

What Does It Encompass?
• Formulation and implementation of business strategies and evaluation of their outcomes.
• Integration of various divisions and subdivisions to achieve a seamless workflow.
• Formulation and incorporation of organizational values.
• Documentation of guidelines and an action plan(s).
• Future goals, pivot scenarios, and expansion opportunities.
• Merger, exit, and asset liquidation guidelines.

Comprehensive strategic planning would answer the what, why, when, who and how of a business venture to all the prospective stakeholders.

Advantages of Strategic Planning: Why Do We Need Strategic Planning?

1. It outlines a CLEAR PATH for the company.

This is the most critical of all benefits. Some studies show that the strategic planning process makes a significant contribution to improving a company’s overall performance, regardless of the success of a specific strategy. No business can hope to succeed by not having a plan and simply hoping to stumble across success. A strategic plan works like a roadmap, clearly defining the best route for your organization to take in the years ahead.

2. It brings a sense of FOCUS.

A strategic plan establishes a direction for your business to take. It sharpens the focus on goals and the means to get there. Strategic planning also helps the employees to know what is the company exactly doing and why has it chosen to do it. This makes organizational goals and objectives real, understandable, and achievable. It also helps the employees to understand the relationship between their performance and the company’s success at a deeper level.

3. It improves RISK AWARENESS.

Another reason for entrepreneurs to make strategic planning a priority is that it helps to reduce potential risks, particularly in times of economic uncertainty. Taking the time to establish a comprehensive strategic plan means the business has a better awareness of its strengths and weaknesses and where it stands in the market, both individually and in relation to competitors. This way, a business is better equipped to make decisions and therefore minimize risk.

4. It gives everyone A SENSE OF PURPOSE.

Strategic planning isn’t just beneficial for upper management. It gives everyone in the organization a sense of purpose. It helps to achieve synergy between different parts of the organization. Strategic planning is in place to facilitate the collaboration between the managers of different departments. With a definitive mission and clear objectives to work towards, the staff will know that their efforts count towards something and will be motivated to do their job. This, in turn, will enhance sincerity amongst all employees as they have a sense of responsibility for the outcomes of their efforts.

5. It REDUCES RESISTANCE to change and IMPROVES RESOURCE ALLOCATION.

One of the primary aims of strategic planning is to inform the whole organization about the company’s plans, strategic changes, and their implications, and how these changes should be executed. Explaining this thoroughly at different levels would reduce resistance to change as executives and managers would be less uncertain about the future. Any new products, services, strategies, goals, or objectives that require resource allocation (moving people from one team to another or moving the facilities into another country), can be done more efficiently when aligned with strategic objectives. Competitive advantage is often achieved without strategic planning but if the company wants to achieve a sustainable competitive advantage, it must plan strategically.

Strategic Planning Process
Proper strategic planning would take a set route before materializing into something actionable. The illustration below gives an overview of a strategic planning process.

1. Goal Setting: A goal is a realistic, measurable, time-bound target for achieving specific outcomes at a set time in the future. Goals are like steps of a staircase that lead one to his/her mission and vision. Goals form the bridge that turns your mission and vision to reality. Ideal goals are SMART – Specific, Measurable, Achievable, Relevant, and Time-bound.

2. Strategy Formulation: A strategic planning system has two major functions – One, to develop an integrated, coordinated, and Two, consistent long-term plan of action, and to facilitate the adaptation of the organizational change. The design of the system must include steps to make sure that effort fulfills its adaptive mission.

3. Implementation: Implementing your strategic plan is as important, or even more important, than the strategy itself. A common pitfall in executing organizational goals is not taking daily actions to reach the desired goal. Employees should be aware of the practical step-by-step actions that will move the organizational goals forward.

4. Evaluation: Regular meetings about tasks should be held with each team to talk about their progress. That way, everyone will understand how their contributions to the whole company will play out, and thus, there will be clear answers to critical questions and to get everyone on track.

5. Revision and Reimplementation: Implementation must be monitored to be successful. Due to constantly changing external and internal conditions, managers must continuously review both environments as new strengths, weaknesses, opportunities, and threats may arise. If new circumstances affect the organization, management must take corrective actions as soon as possible.

Conclusion
Most companies use strategic planning to formulate and implement effective decisions. Focusing on the long-term strategy of the business is essential. Strategic planning helps the organization and employees to understand the current status of the company in the market. It assists productivity by aligning everyone’s works toward the organization’s goals; leading the business to be a better position to address any impending issues. While it may require a significant amount of time, effort, and resources, a well-thought-out strategic plan efficiently fosters company growth, goal achievement, and employee satisfaction.

The post What Is Strategic Planning and Why Is It So Vital for Your Business? appeared first on DNA Growth.

In addition, given the economic slowdown caused by Covid-19, businesses in Dubai have been subjected to several relief measures and stimulus packages. Both the government and commercial entities in the Emirate and the UAE are providing these packages to the businesses to help them during this crisis. As a result, many fees have been waived off for new businesses and SMEs. Economic relief packages have thus made it easier to register a new business.

Consequently, business opportunities in these fields have inspired many entrepreneurs. So, if you are one such entrepreneur, looking forward to start a business in Dubai, we have brought a few important tips on how to choose a financial consultant company in Dubai for your startup.

But let’s first understand why does your startup need financial consulting?

If you want to build a business that will last well in the future, the secret to achieve this is sound financial planning. Financial planning and analysis conducted by a financial consultant will allow entrepreneurs to look at various things before starting a business. It includes initial costs, current funding and potential funding sources, the viability of a business idea, potential profitability, and other critical factors.

Startups initially need to plan their investment, especially considering the current economic situation of Dubai, financial planning is significant for any business. It also makes it especially crucial for a startup business to consult a financial consultant company. Below-mentioned are some services that a financial consultant can provide to a startup business-

1. Increasing profitability by focusing on actions that will bring results.
2. Addressing the volatility of the business environment.
3. Backing up all the business decisions with accurate financial terms.
4. Ensuring a healthy cash flow by identifying valuable opportunities and suggesting buffers for any future problems that may arise.
5. Ensuring that your personal finances do not take a hit and are managed separately from business finances.
6. Allocating limited capital to essential R&D areas.
7. Identifying potential investors and determining appropriate compensation for the investments.
8. Reassuring that professional accounting records are maintained.

One of the major benefits of financial consulting is that it’s cost-effective. It will enable the business to avoid unnecessary costs and endorse efficient use of business finance which will result in higher returns. Also, a financial consultant company has experience in different industries. This ensures that they have valuable knowledge about the suppliers’ and competitors’ prices in various industries. Hence it will allow the startup to undertake the best deals and as a result, reduce expenses while increasing revenues.

Choosing the Right Financial Consultant Company

Getting help from a financial consultant is the most efficient way to make all your startup’s financial decisions. But with so many professionals out there, how do you go about choosing the right financial consultant to work with?

1. Consider the type of consultant you want to work with

Some consultants offer financial planning services but not investment management services. While others might have little financial planning expertise. To find the best financial consultant that meets your needs, you must know the type of financial advice you need.

Being an entrepreneur who is looking forward to starting a business, you need perfect financial planning to execute your innovative ideas. You will need financial projections, key assumptions worksheet, departmental expense worksheet, P&L statement and sources, and uses of funds statements for your business. Therefore, you will need a financial consultant who can help you create these relevant financial statements for your startup.

2. Understand how the consultants get paid and decide accordingly

Before hiring a financial consultant you need to ask how they get paid. It may sound awkward but it is important to understand their expense structure. Many financial professionals bill themselves as fee-based or fee-only.

Those working on a fee-only basis only receive payment from their clients. Their advice is not conflicted as they do not receive any sort of compensation from outside resources. However, they may be more expensive. On the other hand, a fee-based financial professional is mostly associated with a bank or a big brokerage firm. They can be less expensive because they not only earn a paycheck from you but also receive compensation in the form of commission, securities spreads, and mutual funds shares. So, make sure to review the compensation terms of the financial consultant company before hiring them.

3. Set up an introductory meeting

Setting up an introductory meeting allows you to ask a few important questions to the potential financial consultant. The questions can be about their experience, their compensation, and anything else that you deem relevant to your project. It is during the introductory meeting that you can understand how the consultant communicates, as effective communication is the key to successful financial planning.

4. Check for reviews and complaints

To make sure if the consultant has a good service record, always check for reviews and complaints. The best way to do so is to check for Google reviews left by customers and the ratings. You would not want to hire a consultant with too many complaints.

When Should You Talk to a Financial Consultant?

Talking about startups, most people wouldn’t want to embark on a long journey without a plan. It is unlikely for people to not seek financial help especially when they are starting something that is potentially costly and time-consuming. Financial consultants specialize in leading business owners to a path of profitability and preparing their businesses for future developments and different stages of business growth.

So, if you have a business idea that you want to turn into reality, get in touch with the financial consultant company in Dubai, DNA Growth.

DNA Growth

DNA Growth is a global professional service provider specializing in Business and Financial Planning. We have 10 years of Company experience and over 50 years of cumulative professional experience in executing research, financial analysis, and content development globally. We provide a range of Financial Analysis and Forecasting services to companies from diverse industries in different key geographies. We aim at helping clients with accurate and foreseeable forecasts that help them plan for the future in a better and structured manner.

The post How to Choose a Financial Consultant Company in Dubai for Your Startup? appeared first on DNA Growth.

The world economy entered a deep recession in February 2020 itself and this global tribulation is likely to extend well into 2021. Few sectors have suffered more than other sectors. These include travel, hospitality, and food sectors. Everyone understands how severe the impact has been. Now the focus needs to shift to finding a practical and enduring way to deal with the ongoing recession. Solid recovery business plans for small businesses will have to be formulated to suit the ongoing challenges in various industries

Helping Small Business Recover from the Coronavirus

• Ensuring Employees’ Safety

When planning for recovery, businesses would need to develop protocols to ensure that employees stay healthy once they resume their regular office hours. They’ll have to ensure a safe and properly-sanitized environment as the employees return. All workspaces and equipment/devices/systems must be sanitized to ensure that no further transmission happens.

• Develop Value Chains and Alliances

The pandemic has thwarted the supply chains of many companies across the world. Businesses are facing dealer fulfillment problems but what’s even more severely affected is the actual transport of goods. While companies deal with the supply problems, they will also have to provide realistic recovery supply plans to their customers. However, they must not set unrealistic goals that may backfire. Also, companies will have to deal with staff shortages, should the staff still be under quarantine or recovering from any illness or any other issues worsened by the pandemic.

• Communicate with the Stakeholders

Clear, transparent, and timely communication with the stakeholders is vital for reshaping the business. It will also help in securing ongoing support from customers, employees, creditors, investors, and regulatory authorities. Companies need to maintain regular contact with their suppliers and customers about their capability to deliver goods and services during the pandemic and also about their recovery plans so the company can consider other supply chain options in time. The companies should ideally review terms and conditions on the contracts to identify sensitive debts to avoid any vital technical debt breaches.

• Maximize the Use of Government Policies

The Governments of India (GoI) has announced several financial, social, and tax-related policies to support MSMEs. It’s vital to monitor the worldwide government and organizational opportunities for better support. Businesses will need to know, identify, and understand each offer of support and determine which one is more profitable for the company.

Conclusion

Companies around the world are trying to come into terms with the effects of coronavirus. Small businesses are in a particularly more vulnerable position. Loans may help many of them in the short run but when the crisis is over, many businesses would have exhausted all possibilities and eventually shutting down. The BRAC Commission model presents a feasible way to help small businesses by exempting them from regulations designed for large businesses. By using this approach, policymakers can provide relief that will help many small businesses in surviving the recession. More importantly, these exemptions will pave the way for new and existing small businesses leading to gradual economic recovery.

DNA Growth

DNA Growth is a global professional services provider specializing in Business and Financial Planning. We have 10 years of Company experience and over 50 years of cumulative professional experience in executing research, financial analysis, and content development globally. We aim at helping clients with accurate and foreseeable forecasts that help them plan for the future in a better and structured manner.

For any inquiries related to business and financial planning services for small businesses – Talk to our financial consultants at +91 98886 67447 (India) | +971 56149 8070 (Dubai) or visit our official website: www.blog.dnagrowth.com for more details

The post Business Plans for Small Businesses to Recover from Covid-19 Losses appeared first on DNA Growth.

What is Digital Transformation?
We all know how dynamic the current business ecosystem is. Change is the need of the hour and digital transformation is that change. Digital transformation is basically an umbrella term used for the integration of digital technology into all areas of business. It refers to the ways in which businesses change to adapt to new technology and consumer preferences.

While some of you may think that why now? When businesses are struggling to stay afloat, what can digital transformation do that will change their state?

Let me put it this way, the consumer is the king, he has always been, but now, understanding and adapting to the changing consumer behaviors is more important than ever. Due to Covid-19, consumers are feeling vulnerable. They are starting to choose e-commerce over physical shopping. This is why, over the past few weeks, there has been a stark proliferation in e-commerce sales. Especially when social distancing has become the new norm, consumers are relying on e-commerce for essentials and entertainment. To be precise, e-commerce sales are expected to rise to $4.5 trillion by 2021.

Also, competition has never been so cutthroat. New competitors are flooding into the market every coming day. Thanks to the lower barriers of entry provided by globalization and technological developments. So, your adaptability with the changing market demands will decide whether you will be able to cut through the competition or lag behind.

In addition, consumers are judging their online experiences based on various factors, but the main is ease. Fortifying your customer base will only be possible if you are swift to accelerate digital transformation into your business. You need to be ready to take advantage of changing consumer behaviors and meet all the consumers ‘expectations. If your business fails to do so, consumers may inevitably shift their focus towards a competitor that pays heed to their changing demands.

So, if you are a business owner who is finding ways to incorporate digital transformation into your business strategy for the purpose of improving the consumer experience, here is how you can do it:

1. Embrace Automation and Prioritize Optimization
The key here is to use automation as an integral part of your customer service strategy. Not only does automation save your team’s time but also serves customers more efficiently. In a survey conducted by Accenture, it was seen that nearly 85% of people prefer interacting with service providers through AI-enabled applications, like a Chatbots rather than human advisors. So, businesses need to scan such consumer preferences and use digital transformation to satisfy the changing needs of the consumers.

2. Bespoke Content
Consumer data should be used effectively to offer personalized content and deals to consumers. You know how you search for a thing on Amazon and you start getting similar product recommendations that are using consumer data efficiently. Though the personalization strategy may differ from business to business, but providing bespoke content to consumers can help increase your conversion rate like you may have never imagined.

3. Learn About Your Consumers
Again, thanks to technological advancements, marketers have access to more data than ever. Though you can analyze the data available to develop successful marketing campaigns, you need to be transparent about the data you collect. Consumers prefer to have the power to control what data is being collected because it makes them feel secure.
The ability to read and understand consumers’ preferences and habits can prove to be highly-insightful for your business.

Let’s take the example of Amazon, the leader in consumer experience, to understand how digital transformation can take your business to new heights. Amazon has come to be a clear winner amid the Coronavirus-induced lockdown. Even now that the lockdown is released, Amazon has experienced a 35-50% surge in orders. The company’s share continues to climb and the main reason for this triumph is the affinity of people towards Amazon’s cloud-based services.

Some of the features that Amazon offers to its customers are:
● Early and free shipping on prime orders
● Bespoke offers and discounts
● Millions of product offerings
● Safe delivery of products
● Purchasing system integration and tax-exempt purchasing on certain orders
● Digital services and device support
● Shared payment methods, etc.

These are just a few offers from the pool of digital benefits Amazon is offering to its customers. This is why Amazon has 310 million active, loyal customers.

Conclusion
Businesses who understand that there is nothing permanent except change will thrive. Companies that are able to quickly accelerate digital transformation to provide better consumer experiences will not only gain new customers but also will be well-positioned to maintain better relationships with the present ones.

If you haven’t started your digital transformation journey yet, get in touch with DNA Growth to come up with a full-proof digital marketing strategy.

DNA Growth
At DNA Growth we offer specialized services in financial and business analysis and digital solutions to our clients. We have over 10 Years of Experience in the industry. We provide services such as Social Media Management, Search Engine Optimization, Website Development, Corporate decks/Brochures/Logos, and SMO (Social Media Optimization) to our clients in various countries. We aim to enhance our relationships with our clients and help them to increase their resource efficiency and power their business growth.

Contact us today to avail best Digital Marketing Services for your business in Dubai. Call Now at: +91 98886 67447 (India) | +971 56149 8070(Dubai) or visit our website: www.blog.dnagrowth.com

The post Accelerating Digital Transformation into Your Business to Deliver Better Customer Experience. appeared first on DNA Growth.

SMEs all over the world are finding themselves in a rapidly-changing environment. They need to make prompt business decisions to help their businesses stay afloat. Employing creative solutions is the need of the hour, with the pandemic throwing unprecedented contortions in the way of small businesses. While the first instinct of many business owners is to cut down costs, your marketing budget should not necessarily be the one taking the brunt. If you have a product or service that can closely meet the needs of consumers, you need to invest in smart marketing strategies that will get the word out to your target customers.

If you’re not sure how digital marketing can help your business to curb losses during Covid-19, here are some ways that illustrate how effective digital marketing strategies will not only help your small business gain profits but also help it become more resilient.

Let’s take the example of a quick-witted local book store that implemented smart digital marketing strategies to its rescue. When in March, the government ordered the closing of all the “non-essential” businesses in the state, restaurants, hotels, salons, theatres, book stores had to close like thousands of other businesses. While many business owners were bewailing their closed business, this local bookstore was swift to take action.

The bookstore understood how everyone would need something to spend their time at home during the lockdown. So, they started sending out e-mails to their present and potential customers regarding book recommendations, online book launches, online readings, and other such online events. This helped them spread the word out for their business to new customers and develop a better relationship with the present ones.

As far as the cash flow problems were concerned, the book store curated a list of e-books for their customers to buy, and they updated the list every week. Customers showed a great response to this business model and were keen to buy new books every week. The store used their Instagram handle as a book reading group that received a sweeping response as well.

So, learning from the local bookstore and many such small businesses who leveraged digital marketing to their rescue, here is what you need to do:

1. Invest in Digital Marketing
First of all, small businesses need to understand that Covid-19 is not the end. While the situations are definitely challenging, you need to keep an eye on the hidden opportunities.
Most of your competitors are going to sit back and relax, it is an idol time for you to take the lead. Investing in marketing strategies will help you even past the crisis, for the years to come. So, make astute business decisions.

2. Rethink Your Marketing Approach
Many B2B businesses were dependent on tradeshows and exhibitions to attract potential clients. As social distancing has become the new norm, in-person contact needs to be replaced with online marketing. You need to look for ways to shift your business operations online and divert your budget to digital marketing.

3. Spruce Your Website
Websites tend to get neglected during the regular business hustle. Now is the right time to rebrand or rebuild your website. The only way of bringing your website back to life is to do a thorough website audit. Update the content on your website, test the landing pages, and add new features on your website that makes it more user-friendly, like many businesses are creating relevant audio (podcasts) and video content, and posting it on their website.

Also, do some keyword research and update your SEO to organically outrank your competitors. You can reallocate your marketing funnel by stopping Google Ads and shifting your budget to Search Engine Optimization (SEO).

Conclusion

The unprecedented situation has given us a chance to reinvent what we sell and force a positive change upon our businesses. Embracing the shift will help your business emerge more resilient and stronger than ever.

So if you want to flourish through the lockdown, you need to employ digital marketing for your assistance. Also if you are looking for some jargon-free advice, why not consult DNA Growth?

DNA Growth

DNA Growth is a global professional services provider specializing in Business and Financial Planning, F&A Outsourcing, and Digital Marketing Solutions. We have a cumulative company experience of over 50 years and a wide client base in Dubai. We provide an array of digital marketing services such as Social Media Management, Website Development, Search Engine Optimization, and various analytical services to clients across diverse industries. Our strong regional understanding, a commitment to excellence, and an expert team help us deliver marketing solutions surpassing customer expectations.

For any inquiries related to business and financial planning services for small businesses – Talk to our financial consultants at +91 98886 67447 (India) | +971 56149 8070 (Dubai) or visit our official website: www.blog.dnagrowth.com for more details.

The post How Digital Marketing Can Help Small Medium Businesses to Curb Their Losses During Covid-19? appeared first on DNA Growth.

What is Financial Analysis?

Financial analysis refers to examining and analyzing of financial information of the company in order to reach a business decision. A financial analysis looks at various aspects of a company such as – profitability solvency, liquidity, and stability. Financial analysis is usually carried out by synthesizing information from various financial statements such as – income statements, balance statements, and cash flow statements of a company. It is used for evaluating economic trends, setting financial policies, building long-term plans for the business, and identifying projects or companies for investment.

Importance of Financial Analysis

Given below are the reasons why financial analysis is important for a business:

• Identifying the Company’s Assets and Liabilities

An outline of a company’s assets and liabilities are assessed during the forecast period in financial analysis. It helps in examining all the assets and liabilities a company owns.

• Measuring a Company’s Overall Financial Strength

Financial Analysis helps to understand the current financial strength of the company. The analysis helps to study whether the business is making profits or losses. It also helps in understanding various other financial aspects of the company such as its ability to pay off debt or dividends.

• Analyzing the Operational Efficiency of a Company

Certain ratios in a financial analysis help in analyzing the degree of efficiency of the company. It helps in examining if the company manages its resources in an effective way.

• Assistance in Strategic Decision Making

Financial Analysis helps in providing an understanding of how efficiently the company resources are utilized, operations are conducted, and debt is managed. It helps in analyzing the overall health and stability of the company and thereby helps the management to make much more informed business decisions.

• Helps in Spotting Trends

Financial Analysis helps in comparing various key numbers for a company over several years. This helps in identifying key trends over a period of time. The ratios can be compared and help to analyze whether progress has been made by the company.

• Future Budget Estimation

A number of future budget decisions and corrective actions rely majorly on Financial Analysis. The analysis can help a company to plan ahead and make informed budget decisions and achieve various business goals.

• Making Better Investment Decisions

Financial analysis is highly beneficial for investors. Appraisal of a company’s profitability and financial position is important before any investment decision. With the help of financial analysis, investors can make various key investment decisions.

Conclusion

Financial analysis is essential to provide pertinent information regarding a company’s financial position. It helps in analyzing the current strength and position of a company and further forecasting its viability. Financial analysis Services in Dubai can be used by a company’s management, shareholders, executives, investors, potential lenders or any other person or institution. It is widely used for important decision making and future forecasting.

DNA Growth

DNA Growth is a global professional services provider specializing in Business and Financial Planning. We have 10 years of Company experience and over 50 years of cumulative professional experience in executing research, financial analysis and content development globally. We provide a range of Financial Analysis and Forecasting services to companies from diverse industries in different key geographies. We aim at helping clients with accurate and foreseeable forecasts that help them plan for the future in a better and structured manner.

Get in touch with us, visit: www.blog.dnagrowth.com or Call our Financial Experts today at +91 98886 67447 (India) | +971 56149 8070 (Dubai)

The post How Businesses Can Benefit from Financial Analysis Services In Dubai? appeared first on DNA Growth.

What is Digital Marketing?

Digital channels are proliferating rapidly in Dubai and businesses have to keep up and leverage these channels for more effective targeting of potential customers. Digital marketing encompasses all marketing efforts used to attract, engage, and convert customers using online as well as electronic channels. It utilizes multiple channels and platforms such as search engines, websites, social media, email, and mobile applications.

Digital Marketing Strategies for Businesses in Dubai

Given below are a few tactics that can be integrated into the marketing strategy to enhance the visibility of the business:

• Know Your Target Audience

It is one of the most critical steps in order to design an effective digital marketing strategy. To understand who your target market is, and to know how best to reach them is an important step in any marketing strategy.

• Leverage Various Social Media Channels

Social media platforms are invaluable tools for content promotion. They are a great way to connect with the target market in a personal and mutually enriching way. Facebook and Instagram are the most popular platforms by the number of user base. Both of these platforms have options for advertising and enable businesses to target the audience in unique ways.

• A Functional Website for the Business

It is key to a successful digital marketing strategy as all the other channels direct the potential customers to the business website. It should be user-friendly as well as mobile-friendly and should convey the brand vision in a clean and concise manner.

• Strong Search Engine Optimization Strategy

Search Engine Optimization (SEO), is one of the most essential strategies that help in generating a better ranking on major search engines and driving more user traffic to the business website. A good SEO strategy includes various elements such as keywords, meta-tags, content and much more. A digital marketing company with a good SEO specialist can help the business rank better organically on various search engines.

• Make Use of Content Marketing

Engaging and authoritative content is key to establish and strengthen your business. It involves giving the prospective consumers information regarding your service and in general. It attributes a certain level of expertise and helps to instill consumer confidence in the business.

• Using Email Marketing

Email marketing has high conversion rates and delivers one of the highest Return on Investments (ROI). By using email marketing, a business can build a database of prospective customers and continuously engage with them and keep them informed by circulating regular updates, special offers, or newsletters.

Conclusion

Digital marketing can be the key to success for any business seeking to market itself effectively to the appropriate audience. The above marketing strategies can prove to be highly effective for businesses in Dubai. These are the most commonly employed strategies by many successful businesses and can be tweaked as per the business requirements.

DNA Growth

DNA Growth is a global professional services provider specializing in Business and Financial Planning, F&A Outsourcing and Digital Marketing Solutions. We have a cumulative company experience of over 50 years and a wide client base in Dubai. We provide an array of digital marketing services such as Social Media Management, Website Development, Search Engine Optimization, and various analytical services to clients across diverse industries. Our strong regional understanding, a commitment to excellence, and an expert team help us deliver marketing solutions surpassing customer expectations.

For any inquiries related to business and financial planning services for small businesses – Talk to our financial consultants at +91 98886 67447 (India) | +971 56149 8070 (Dubai) or visit our official website: www.blog.dnagrowth.com for more details

The post Digital Marketing for Businesses in Dubai – Strategies appeared first on DNA Growth.

What is a business plan?

A business plan is a document that describes the way you will run your business. It includes the vision, mission, and details about the product and services of your business. It is a proposal for investors to invest in your business. A decision about the market to be targeted is a very crucial decision for an entrepreneur. In business plans, there is a section named market research which helps you to get information about the market you want to choose for your business. It also helps you in identifying the amount of potential in the market you have chosen for your business.

How business plans help you understand the market you have chosen for your business?

Before starting any new business you need to have full knowledge of the market. Given below are some ways a business plan helps you understand the market:

• It helps you identify the latest trends in the market

When we execute market research you understand the intricacies of the market. You are able to build a customer avatar and most importantly you are able to understand the various segments.

• It helps you evaluate the size of the market

The size is different for each market and its individual segments. With the help of business plans, you can identify the segment which has the largest market size or has the highest growth rate. This helps in better positioning.

• It helps you find out the competition present in the market

Competition is an important part of understanding the market. While making business plans, competitor analysis is done in order to find out the numbers of firms in the market that produce a similar product as that of ours. This helps us get market insight into what is the right pricing and right marketing message.

• It helps to identify the upcoming opportunities in the market

When we do market research in a business plan we come to know about new opportunities of which we can take advantage of in the future. These opportunities can lead to business pivots and massive growth.

• It helps in understanding the special characteristics of the market

Every market has some special characteristics which make it distinct from other markets. With the help of a business plan, you can get to know about the special features of the market in which you are planning to start your business.

• It helps in reducing the level of risk

Sometimes we are not able to achieve success due to a lack of knowledge about the market. Business plans help in reducing the level of risk by providing complete knowledge of the market.

Conclusion

Business plans help you understand the market in a better way. It helps in determining the effectiveness of your product for the target market. The format and content of research can be different in various markets. Business plans help to reduce the risk and uncertainty by providing knowledge about market trends.

DNA GROWTH

DNA Growth is a global professional services provider specializing in Business and Financial Planning. We have 10 years of Company experience and over 50 years of cumulative professional experience in executing research, financial analysis and content development globally. We aim at helping clients with accurate and foreseeable forecasts that help them plan for the future in a better and structured manner.

Call our Business Plan Experts today at +91 98886 67447 (India) | +971 56149 8070 (Dubai) or Get in touch with us, visit: www.blog.dnagrowth.com

The post How Business Plans help your business understand the market they will cater to? appeared first on DNA Growth.