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Engineering Outsourcing Business in India-50

31 Jul , 2015,
infidofblog
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Dear Friend,

Please refer our previous blog, Blog No. 49, in which we identified the key challenges, as we see them, in Business Development. Let us now try to figure out ways to overcome them.

Sl. No.

Challenge

Measures to Overcome

1

Affording the cost of business development efforts which involves cost elements associated with travel to the locations of prospects, cost of free confidence-building pilot projects, etc. (i)      Ensure the success of returns by deploying right expertise, and processes

(ii)    Seek and leverage an external funding, if required

2

Availability of the experts to provide a prospect the much-needed initial confidence (i)      Have alignment with the experts as required

(ii)    Seek and leverage an external funding, if required

3

Building up expertise and infrastructure when “things are yet to work out (i)      Ensure the success of returns by deploying right expertise, and processes

(ii)    Seek and leverage an external funding, if required

4

Affording infrastructure ramp-up without the assurance of business volume sustenance (i)      Ensure the success of returns by deploying right expertise, and processes

(ii)    Seek and leverage an external funding, if required

5

Providing a lower-cost better-quality solution / service Deploy right expertise, and processes

6

Meeting the process requirements, including data security requirements, of a prospect Assess the process requirements, and deploy them in a direct way, i.e. exactly as required

7

Managing the discomforts in the early stages of a new business relationship Ensuring patience by an effective approach which includes in-depth understanding of the requirements

8

Payment terms of a new prospect (i)      Defining the payment terms explicitly

(ii)    Seek and leverage an external funding, if required (to be able to handle the impact of delayed payment)

As you can see, the measures are located around ensuring the “fruit of hard labor” while being supported in the “forming days”!

Do you see any other measures? We’ll, as usual, wait for your inputs…

Respectfully yours,

Team infiDOF

#3068, 3rd Floor, 11th Main, 11th Cross, Off 80 ft Road, HAL II Stage, Indiranagar, Bangalore, India – 560008


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