It sounds like your consultancy is about helping businesses to be sold. But I don’t want to sell my business. What can you do for me?
Our business is primarily about value. We do look for businesses to work with who have a compelling need to increase value or to preserve it. This does lead to us being approached by businesses who want to sell – but equally that compelling needs applies to startups on a value creation journey, or family firms who are facing some crisis and need someone to step in immediately. Because we begin by asking ourselves ‘what is this business worth’ and agreeing that with you – we are unusual in our approach as consultants. We are value driven and extremely sceptical about projects and initiatives that do not clearly demonstrate that.
But how do you prove that what you are doing adds value?
It has proven fairly easy to assess the value of a small or medium-sized enterprise (SME). Indeed, this is a requirement when we are appointed. If we get stuck on that we do insist on getting an independent, external valuation. This can be done by a professional valuer. This one exercise brings a sense of reality to owners and enables us to set realistic goals going forward – and to determine just ‘where we should hit’ as we say.
Right. Well you make a big point about our place in the digital economy. This sounds very grand. What do you mean?
Well, at Paradoi we do feel that although most people understand that ‘digital’ is big, they don’t really understand the speed of change or the impact that may have. We have a number of examples of how upcoming change can completely upend your way of doing business. (Link to Graph) So most businesses do not yet realise what is around the corner. So one of the first things we do is assess the value of your digital assets – and your readiness to meet the challenges coming your way.
But what do you do that is particularly special? What do you know that every other consultancy business doesn’t know?
Well, it is true to say that management consultants are ahead in their thinking about digital. However, we have a special in that our own principal consultant owned two IT businesses – both of which were built up in value and sold. Today he is involved in three digital startups as an owner. He understands better than most the strategic challenges and opportunities that are ahead and he has a history of family and SME engagement over a long career. He really cares about this neglected sector.
Well yes. But what exactly do you do in this area of digital?
The process of assessing the value of your digital assets on appointment gives us a deep understanding of what your business needs. We would probably then recommend what we call ‘opportunity consulting’ where we identify one or two projects that will improve the value of your digital assets dramatically. Australia is short of 100,000 technology professionals – but there is a fast increasing workforce of technology freelancers. So although there are not enough professionals around to do the work needed – at a price that SME can afford – part of what we offer is to help you navigate this challenging area.