Business leaders must be very agile, focused, and futuristic in their business planning. They are faced with a relentless need for reducing expenditures, optimizing the business potential, and increasing the per-project profitability. This often becomes challenging, and the changing situation demands different strategies.
This is where business experts play a crucial role in steering the stat-ups towards efficient and productive working. Modern business consultants help in boosting businesses by optimizing their work processes and enhancing the efficacy of their operations.
Transformation-The Strategy Hub is a prominent business empowering organization that enables start-ups with its crucial support in fine-tuning the business methodologies towards effective and efficient progress.
Led by Darshana Thakkar, Founder and CEO, Transformation-The Strategy Hub has been instrumental in steering scores of business start-ups effectively on the growth path.
In an engrossing rendezvous with the Insights Success team, Darshana gave an account of her early inspirations in starting Transformation-The Strategy Hub, the challenges faced and countered, strategies implemented, her advice to the budding professionals and her vision for the future as to how the company is poised to be progressing further.
Darshana, please brief our audience about Transformation-The Strategy Hub, its USPs, and how you are currently positioned as one of the best consultation providers.
Transformation has been an expert in cost reduction and utilization of resources. Basically, I am an Electrical Engineer followed by an MBA-Operations with hardcore industry experience in managing business operations. I have invested 25 years in Transforming Micro and Small Enterprises. My experience in resolving pain areas and the real-life problems of the SME industry is helping the organization for quick results.
Our expertise in managing business operations with limited resources helps client organizations to transform their business practices from person-driven to system-driven with almost all existing resources. I am confident in driving the digital transformation of the organization and managing changes. We have helped many organizations increase their profitability and achieve sustainable growth.
Nurturing the passion for supporting the start-up ecosystem of our country, the Transformation team is empowering and providing strong handholding support to start-up organizations.
- I conduct various training and coaching sessions on entrepreneurship development, business operational excellence, and digital transformation of MSME in association with various government and non-government organizations apart from those on her own.
- I am associated with CED, Government of Gujarat as a Business function expert in the Entrepreneurship development program, as faculty for industrial subjects in the Second Generation program (SGP), and as a start-up mentor and member of the start-up selection committee in the CED incubation centre.
- I am a certified corporate director registered with IICA and the Ministry of Corporate Affairs, Government of India.
- Apart from this, I am an author and publish numerous blogs, articles, and case studies related to the industry. I am a privileged empanelled author for Technology in MSME and Starts-up business in India’s No 1 Automation magazine ‘Industrial Automation.’
With extensive experience in managing small businesses, I can provide holistic and practically adaptable solutions to small businesses. We understand the limitations of small business owners and employees of such small organizations. That helps in the smooth Transformation of the company without much resistance from both parties.
Tell us more about Transformation’s offerings and what aspects make it stand out in the cutthroat competition.
In the current digital era, in the absence of appropriate digital strategy, the growth of organizations is affected, and the business’s survival is at risk. Our team of expert professionals assists you in establishing budget-friendly digital transformation and automation strategies and practices.
The goal of any business is to make a profit, and transformation strives to increase the yield of high-potential MSMEs. The reason for the existence and start-up of any business is profit. We are passionate about transforming your business in terms of increased profitability and business growth, whether a start-up or MSEs (Micro and Small Enterprises).
Our services provide best-in-class customized tools, techniques, and approaches to meet the needs of increasingly demanding and transitional business challenges at an affordable cost.
At Transformation, our team understands that every organization has grown with unique culture and business practices. We provide a customized solution that fits the organization best with minimal changes and resistance. The Transformation team of experts has extensive experience ranging from five to 25 years in managing the shop floor and business management with MSME companies. That makes understanding problems and the respective affordable solutions for MSMEs most compatible.
Please brief us about your journey in the industry and how they have made Transformation excel in its niche.
The Transformation’s key areas of operations are MSME and Start-ups. We know that MSMEs contribute to our country’s GDP by about 30 % and India’s export by about 45 %. Furthermore, MSMEs employ approximately 11 crore people. Despite these significant contributions, the industry has high growth potential as the sector is unorganized regarding business practices. With Appropriate strategies, MSMEs can become globally competitive. We are offering the following solutions for MSMEs. Our Transformation Theme for MSME includes,
- To define a strategic growth path for MSE companies
- Formulation of Growth and marketing strategies for your organization
- Transform the organization from a person to a system driven
- Increase your profitability and increase your productivity
- The catalyst for Automation and Digital Transformation of the MSME organization.
- Advisory and support for different government schemes for MSME
- Develop a business process and system to fit with your organizational culture
- Organizational restructuring and strategic planning across the function: Planning, Procurement, Production, Stores, Marketing, Accounts, and HR
- Effective Utilization of your valuable resources: Material, Machines, Manpower, Money, Time, Data, and Technology
- Training of business function to improve employee performance
I think that everyone knows that our country is young. Fifty percent of our population is between the age of 25 to 35. It is tremendously challenging to find a job for everyone. Rather, our youth can become entrepreneurs who can get start their own business ventures and employ others.
But due to a lack of business experience, our start-ups face difficulties sustaining business adversities. We support our start-up ecosystem by providing start-up training, mentoring, and handholding. We have an association with CED, the Government of Gujarat, and other incubation centres and universities. We are also providing complete handholding to start the business.
Start-up:
- Starting from idea generation, selecting a business, SWOT Analysis, and starting of business for aspiring entrepreneurs.
- Start-up process from Type of company and registration, various government registration process support, and complete handholding for all starting process
- Guidance in the key decision-making at a different stage of business start-up and process
- Support in a feasibility study to estimate market demand and production capacity.
- Support to define marketing strategy and coach to implement same in line with the target market
- Support in project report and Fundraising options
- Advisory for appropriate fund distribution in different assets and working capital
- Advisory and support in establishing business premises and in the procurement of capital assets
- Advisory and support business operation during the initial period of business operations.
- Advisory and support to avail benefit of the different government schemes for the start-up business
Being an experienced leader, share your opinion on how the adaptation of modern technologies like AI and ML is impacting the industry space and how it is Transformation adapting to the change.
Modern technologies like Industry 4.0, IoT, AI, ML, Robotics, RPA, Data Analytics, Additive Manufacturing, etc., have established their footprint in large corporates. But for the MSME sector, this technology adoption is quite challenging due to two significant factors.
- The high initial cost of these technologies
- Appropriate knowledge about the suitable technology
We recommend our client consider technology adoption on a priority basis as it provides a quick return on investment and increases competitiveness in the industry. As MSME Transformation specialists, we are leading with necessary changes in our organization with step-by-step adoption of digitalization based on the work need.
What initial challenges did you face, and what are the challenges now?
Well, frankly speaking, starting as a consultant was not easy. I remember that we have to deal with business owners, and the first question we have to face is, we have been managing our business for so many years, and how will you be able to help our company? But once they realize the difference between our in-depth knowledge and domain expertise, it required only their budgetary approval. Instead, they are spreading their network through positive word of mouth about our expert services.
What would be your advice to budding entrepreneurs who aspire to venture into the consultancy niche?
I recommend that entrepreneurs who are keen to start their consulting journey stick to their area of expertise instead of copying others. I have seen many consultants dealing with diversified services related to different requirements of the industry. They accept whatever assignments come on their way, even if that is now an area of expertise. Don’t do that. Make your brand image for the particular specialization.
In the changing scenario, how do you envision scaling Transformation’s operations and offerings in 2022 and beyond?
After the post covid era, businesses are regaining momentum in their respective sectors. The one positive thing that happened was the adaptability of the technology. Now even Micro and small enterprises are becoming technology-friendly, specializing in virtual work. It has led to more opportunities for a hybrid work environment. Due to the physical nature of consulting practices, business was earlier restricted to the nearby geographical area. Now companies are open to associating with remote business associates.
These helped our company explore the association opportunities in the long-distance MSME companies and MSME associations. Currently, some projects are in the pipeline in Maharashtra, Punjab, MP, and West Bengal, apart from Gujarat. We have a solid plan to establish our footprint in the other state as an MSME and Start-up consultant in 2022.
The reason for our existence and our goal is to promote #localforvocal and #atmanirbharbharat to contribute to making our great nation India the world leader. The #MSME sector is a very high potential contributor, and we are committed to transforming Indian MSMEs to their highest potential. Furthermore, our prime focus is to prevent our talented youth from migrating to other countries by providing mentoring and handholding to start and succeed in their entrepreneurship journey.
