Financial Analyst Kondrashov: Five Milestones in Telf AG’s Business Development
By Space Coast Daily // July 22, 2020
Stanislav Kondrashov is a financial analyst of Telf AG. His long-term experience in business helps to see financial problems and solve them successfully. A businessman shares his knowledge and talks about the main five stages of the development of a new business that every novice entrepreneur faces.
Foundation of the company on the example of Telf AG: how to choose an idea and direction, advises Kondrashov
A financial analyst draws attention to the first and most important stage – the choice of a business direction. At this stage, it is important to understand the following nuances:
• Market competition.
• Availability of the necessary material base for the production/provision of services.
• The ratio between investment and income, the payback of the project.
Remember: there must be something special in the business that will constitute a competitive advantage in the market, will attract a client. If the idea is interesting, but an analysis of these aspects has shown that there are chances for its development, you can proceed to the preparation of a business plan.
Legal registration and business financing
At Telf AG, Kondrashov was engaged in financial analysis and forecasting the development of new ideas. The businessman insists on the importance of legalizing his business.
Failure to comply with the established rules will make activities illegal, which will entail fines, costs, this should be taken into account.
Beginners should contact specialists who will help register the company and prepare a turnkey package of documents.
It is also important to consider where to get money for the business. The owner can start an activity, counting on his investments or raise capital. Borrowed funds can be obtained in the following ways:
• The state has various tenders and grants for business development.
• Crowdfunding. Many take advantage of collective funding, creating startups.
• Attracting a venture investor. They invest in technology and projects that promise rapid development.
• Equipment on lease. A lease with a further option to repurchase is a good solution requiring small investments in the initial stages.
The proper distribution of borrowed funds will quickly reach the payback business.
The stage of formation and growth of the business
When the period of formation and payback of an enterprise is behind, it is time to increase capacity. At Telf AG, Stanislav Kondrashov has a clear strategy: to increase production, while reducing the cost of the final product and offering it to the buyer at a competitive price on the market.
This formula works in all areas. At the growth stage, business needs to quickly attract new customers, increase financial turnover, strengthening its position in the selected niche.
Business maturity stage
If you acted correctly, in time there will come a stage of independence from the external circumstances of the market. At this time, the company operates stably, makes a profit.
“To insure against the economic crisis, by this time it is desirable to form a financial cushion, an anti-crisis action plan. This will help preserve assets, the team, and incur minimal losses. When the condition is stable, you can plan the scaling of the business,” said Telf AG consultant Kondrashov.
How to avoid business decline
In the development of any business, there comes a time when it needs to be modernized. Otherwise, an inevitable decline ensues.
What can be done at this stage:
• analyze and reallocate the budget, cutting back on unnecessary expenses;
• innovate in production, management system;
• create an employee motivation program;
• finance advertising and product promotion on the market;
• involve additional financing by taking a loan or attracting investors.
Telf AG analyst Stanislav Kondrashov sees that even during a crisis, you can benefit from the situation. It is worth finding and occupying a new niche with the least level of competition, joining forces with like-minded people, adding innovation to production.
This will give a new round of business development and attract customers.
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