Frequently asked questions
What exactly do you do?
KYD Consulting Group helps startups and small businesses grow by analyzing past, current and potential strategies. We want to help you BECOME YOUR OWN BOSS. Our consultation does that by brainstorming with you to come up with new ideas to keep your business profitable and sustainable. While that is a vague answer, YOUR dream is unlike anyone else's. We don't want to offer you a "cookie-cutter" service. Whatever your needs, we will identify them and fulfill them, or refer you to someone who can. We don't simply coach or talk. We are here to WORK!
Consultation may include writing/developing your business model, business plan, SWOT analysis, and other tools to help you succeed. While the tools may seem menial, many businesses fail because they lack the basic blueprints that help to structure and understand the business. When other parties are involved, you get busy with business or personal matters, or everything just starts to go haywire, blueprints will keep you on the right path before it's too late.
How can you consult if you've never been in my business?
This question comes across often and rightfully so. In a world where everything is constantly changing, experience can serve as a disadvantage just as easily as an advantage. You don't want to copy SOMEONE ELSE's old business. It's already been done and the advice may be out of date! You want educated visionaries to come apply business logic and fresh perspective to YOUR dream. Not theirs.
Businesses typically follow the same path regardless of the model, type, or industry. You need value, customer acquisition, marketing, distribution. Sometimes all you need is a fresh new idea. Once we have set a baseline of what you want or need, our network of field experts and consultants may be brought in as-needed for a more fine-tuned approach to your problems and questions.
Why hire a consultant?
Our consultants are not just someone who gets paid to tell you everything you are doing wrong. With KYD Consulting Group, you can invest in a PARTNER, long-term or short, who is willing to learn everything about your dream and the business you are in to offer customized solutions tailored to your specific needs.
You can't be everywhere. If you are trying to do everything yourself, you may be losing vital time that could be spent networking, marketing, or building team cohesion. Maybe you can spend a little more time at home or finally taking a VACATION! By automating or outsourcing some of your processes (like writing a business plan, financial analysis, watching market changes, and analyzing new competitors) you can spend more time focused on what matters-
The dream you set out to make a reality.
How much will consulting cost me?
Initial consultations are typically $60/hr. See FAQs for discounts offered. Since our services are tailored directly to you, the price is developed after the initial consultation and before you sign any contract. YOU COULD PAY NOTHING UP FRONT! Equity & profit-sharing options are available for both startups and existing businesses so that we make money by making you money, rather than you having to pay out of pocket. Pricing and equity are both dependent upon:
-Amount of time involved
-Size of company/employees
-Number of locations
-Number of technical consultants needed
Retainer packages are one option for continuous service. Prices may vary dependent on what value we can offer your business and options you may add/remove. On
AVERAGE, retainers cost:
-$500/month for Basic Package
-$1000/month for Full Package
$1500/month for Premium Package
What happens in the initial consultation?
Whether you only have a fresh new idea or a 20 year old business, we will draft, organize, or update your business model. A business model allows you to see the logic of your business more clearly on paper and gives our consultants the ability to understand your platform. By combining your business model with our new thought processes, we can then have an educated discussion of your business and be able to articulate what we can offer to help.
If we can't help you in any way, we will simply say so. There's no point signing you up for services that offer you no value.
So you're like Shark Tank?
Yes and no.
YES. You will pitch your business to us as though you are trying to gain new customers and investors. Together, we will develop your business model and answer the questions you haven't or can't. You will receive feedback and advice from experts in your field from both small and large organizations.
NO. We are not there to bash you or throw money at you to take 51% of your company. If you have seen the show, think about us as the people who help devleop your presentation before the show so that you can answer all of the questions like:
-"What is your business plan/model?"
-"Is there anything proprietary?"
-"How do you plan to grow?"
-"Who is your customer?"
-"Who are your competitors?"
Whether or not you are looking for investors, knowing the answers to these questions will help your business survive longer than the statistic. If some of the participants on the show had a business consultant, they may have fared much better in securing a deal and making their business more profitable.
Are there refunds on retainers or buyout options for equity deals?
ABSOLUTELY! We won't take your money unless we can make you money. If your business is declining for a full fiscal quarter, we will return your last retainer payment in full and continue to offer Basic services throughout the remainder of the month. It isn't right to take your money if we can't help you grow or at least maintain your financial position.
All equity deals will provide a buyout option at the time agreed on by all parties. If the time comes and you wish to continue business with us, you can choose to extend the deal for another period of time.
What discounts do you offer?
First thing to note- If you have a dream and are driven to start your own business, we will do what needs to be done to accomodate your needs. Whether that means negotiating prices or breaking them into payments, our focus is getting you where you want to be. Here comes the fun part. Discounts are offered for:
-Children under 17
-Adults above 60
-Anyone with a valid Texas Driver's License
-Prescott Chamber of Commerce members
-Prescott Area Young Professionals members
-Very nice people