Tag: deepak mandy

Over a decade ago, when people were hunting for the right professional services, the advocate of automation, “Deepak Mandy,” came up with an idea. The idea is to bridge the gap between organisations seeking professional services and the experts offering these services. As automation has always fascinated Mr. Deepak Mandy, he has been keen to utilise technology right from the time he tried his hand on MS paint. Obviously! He just could not wait to give wings to his idea. This is how his brainchild, Work4you, came into the picture. Soon, the idea became a game changer in the industry as all the small and mid-level organisations benefited from its technological services.

The journey of Work4you started back then when it provided backend support to its Australian client, CBD Movers, which has now grown to have a worldwide presence. After this glorified success, there was no looking back. Work4you has today become a leading organization that runs processes in virtual assistance, lead generation, sales, enterprise-level solutions, customer support, website design and development, digital marketing, app development, and various other niches all over the world.

You must be wondering why Mr. Deepak Mandy chose this difficult and competitive niche of the industry. Well, commenting on this, Mr. Mandy shared his thoughts that he knew that the strong value system and deep-rooted thoughts he had behind launching Work4you would help him surpass all the competitors in the industry.

In conversation with Firmfinder, Mr. Mandy shared his secret sausage of success in the initial days. He shared three key points:

1. Engagement

“We at Work4you have always been open to suggestions and deliver the best to our clients. Since our initial days, we have followed the strategy of engaging with our clients.” Our approach has always been feedback-centric,” shared Mr. Mandy.

2. Tapping “The” Right Niche

He also shared another crucial thing, which was to recognise their forte and work hard to improve it. And today, Work4you is leading the virtual assistance and digital marketing industry. They recognised their hook and worked for it.

3. Setting goals

We also figured out that Work4you, since it was a baby, has kept a goal-centric approach. They set measurable, small goals and worked to achieve those goals. The team also ensured that the process of reaching that goal was realistic and smooth.

The ladder to success was not easy for Work4you. Even this industry-leading brand had to overcome many initial challenges, such as finding the right skill set, acquiring resources, and gaining societal trust. Throwing some light on the initial days’ setbacks, the CEO of Work4you shared that his team was in the process of taking a very influential client on board. He quoted, “We worked hard on the project in making the strategies, hiring more people with the required skill set, and providing the best services. But this very client, for no good reason, went silent just a week before the kick-off was scheduled.

We also discovered that Work4you’s monetization model has a two-pronged model and has further subdivisions. The first model is delivery-oriented. It focuses on understanding the requirements of the customer and delivering on their demands. Another model is partner-oriented. The goal here is to expand the network and add more to the skill set by collaborating with the companies and individuals. This approach is majorly contract-based. The collaboration is structured in a way that benefits both parties.

Work4you follows 5 key points, which are based on a design thinking model that has led it to create successful apps or SaaS.

  • The first approach revolves around the customer’s demand. It is the customer-centric approach. The idea behind this approach is to satisfy the demands of the clients and make their experience worthwhile. An example of this is Mate4trade. It is a customer relationship management app. It was developed to help tradies manage their team and work. It has helped tradies to abandon the stressful process of managing the leads manually.
  • Next, the brand uses a “lean approach.” It uses the art of optimising resources efficiently. The idea is to do smart work and save time and effort.
  • The third approach that we discovered, which Work4you uses, is agile methodology. As Work4you has always believed in the engagement approach and satisfying customers’ requirements. It sticks by it at every step. The customer’s feedback is taken at every step to make sure that the results satisfy their requirements.
  • Another approach that Work4you is appreciated for is its “after-sales” support. It maximises customer satisfaction completely. Providing maintenance after delivering the service or product is very important to maintain the authenticity of the product.
  • Another very evident approach that Mr. Deepak Mandy swears by is valuing relationships more than monetary benefits. Work4you has gained popularity for serving the community and giving affordable services that actually help brands achieve their goals.  

We know that by now you are all influenced by the charm that Mr. Deepak Mandy has spread in the industry. Since you are all influenced by him, let us tell you a good deed that is on his mind. If you are idealising him, then you must approach him and give him ideas to actualize it. So, being a visionary man, he has the vision to begin a movement that provides a platform for the masses to show their talent to the world. That will further aid them in earning their living. Hardworking and deserving people should be able to make their name as experts in the niche that they are proficient in. Helping people realise and tap into their inner potential and grow in life is his aim.

It was the support of his parents, wife, children, and employees, whom he chooses to call his own family, that led him to the point where he is today. Yes, this is what he shares whenever he is asked about the strengths that made him a successful entrepreneur.

There is no success story without mistakes. Every human being makes mistakes, and so did Deepak Mandy in his initial days. But he believes that it is important to make mistakes and learn from them. Do not be knocked down by them, but rather persevere each day to reach the point of victory.

He has built a strong international brand, but the key to his heart will always be a simple Indian milk tea. Deepak Mandy believes in constructing a strong path for himself and others through his vision. Having made his name in the industry, he is now focused on helping others build theirs. These are the highlights from the interview of Mr. Deepak Mandy, conducted by firmsfinder.

Deepak Mandy is a business coach who has been building businesses Down Under all his life. From commendable expertise in the IT sector to a tight grasp on logistics, he has also been a mentor for budding entrepreneurs, giving genuine and effective business advice. As a business coach, Deepak Mandy understands the challenges that young, as well as seasoned businessmen, face while raising funds for their companies. It is true that the proper execution of an idea is what makes it work. Bringing good solutions to the masses has been Deepak Mandy’s forte ever since he entered the Australian markets and raising capital is one of the foundations of any good execution. This guide seeks to explore these challenges and how to overcome them.

Challenges in Raising Capital

Entrepreneurs come up with brilliant ideas and even have the right knack for executing them into practice. However, a slow or lack of cash injection at the right time is a major reason for many crushed dreams. Deepak Mandy suggests:

  • Investors are Dicey: It happens often that a verbal commitment given by the investors during a pitch is not followed up with a proper investment decision by the investors.
  • Lack of Urgency: Entrepreneurs often fail in creating a sense of urgency to the investor which results in a delayed reaction. The number of investors is less compared to the number of companies seeking funds – a major reason behind this issue.
  • A Declining Economy: You can’t do much about it, can you? Well, coming up with a market disruptive solution is the only business advice that would work here. Moving on.

Companies Eligible to Raise Funds in Australia

Public companies (a company with more than 50 shareholders that are not direct employees of said company) are eligible to raise money from the general public (IPO). The company has to declare securities before entering the public pool to raise money.

Private companies (technically the opposite of a public company i.e not more than 50 shareholders that are not employees) can also enter for raising capital:

  • From a private party such as employees, shareholders, or a subsidiary company.
  • If there is no disclosure document required, the private company can raise funds from the general public.

Restrictions on Advertising or “Cold Calling”

When a disclosure document is required to raise funds, cold calling or advertising to the general masses has restrictions and boundations. In the most general terms, it is not allowed to cold call people from the general public and tells them about the securities. There is an exception in this case though. Deepak Mandy suggests that you check this link out. Holders of the Australian Financial Services Licence can raise funds from the public. Do check the link for more information though.

Advertising securities, as aforementioned, is not allowed. However, if the disclosure document is lodged, the scenario changes a bit. You can start advertising for public funding in Australia after the disclosure document is lodged as long as there is a statement in the advertisement or cold call stating that:

  • Offers will be taken only with an attachment of the disclosure document
  • There is an application form in the disclosure document and anyone who wishes to infuse money should fill it out first.

Don’t have a disclosure document? The Right Time to Raise Funds is this

With years of experience raising as well as investing funds, business coach, Deepak Mandy has compiled some pointers for you in this regard. If your company does not have a disclosure document, the right time to raise funds depends on:

  • In case there is a personal offer. This also includes (a) offers made to less than 12 people in the course of a year and (b) the offer will not raise the total amount (in a year) above $2 million.
  • Offers are made to the person who is not eligible for a disclosure document.
  • There are also various conditions that are included in this category. For a detailed understanding of when you can raise capital without a disclosure document, check out the official link.

The right time to raise capital in case of the non-existence of a disclosure document also depends on where your business is currently and whether you have an execution plan in place. In simple terms, the allocation of the proposed incoming funds needs to be decided by the entrepreneur. Although this is not some mandatory step, it is absolutely essential for the entrepreneur to have a thorough understanding of where the money would be used and how much the returns will be.

How to Overcome Raising Capital Challenges

As a business advisor and coach, Deepak Mandy suggests that entrepreneurs take the following roadmap to overcome the challenges of raising funds in Australia:

  • Scalable business strategy: A scalable business strategy is one of the major factors that investors look into before injecting money into a business. Investors look for good future prospects before making a decision so a scalable business model is a must.
  • Market feasibility: Entrepreneurs and young businesses should not fall in love with their ideas and lose a sense of the real world. The feasibility and the problem-solving power of a business is the one thing that will keep the company floated in periods of crisis.
  • Having a realistic time frame: Unrealistic deadlines are also a reason for the failure of many young businesses. Business advice in this case requires entrepreneurs to keep a realistic sense of time frames.
  • Networking: Networking with high net individuals as well as good companies of the different industries is another key factor that will help you to raise capital.
  • Crowdfunding: Crowdfunding is another great way to raise capital if you believe that your idea is capable of motivating the general public to help you grow.

Conclusion

It is crucial to understand the place and time where your company stands before you start planning the next step. If you decide to raise money at the wrong time, it may end up hurting you more than helping you. We hope that this ‘Deepak Mandy’s guide to helping overcome capital raising challenges’ was mind-opening for you.

Establishing a new business can be amazing and challenging. You have to do market research, arrange finance, build contacts, secure a location, and perhaps hire staff. Before establishing your new business, it is recommended that you speak with an experienced business consultant about your new business idea. A business consultant will increase your knowledge and experience about the future operations of your business, as well as help you in creating a business plan.

Business Plan

People avoid writing a business plan because they believe it is too time-consuming or unnecessary unless they are seeking financing. However, the reality is opposite. Establish a business strategy before investing. It will help you develop a strategy, define your company goals, and determine the viability of your planned business.

A business consultant may develop a customized business plan for you or will evaluate your existing plan and provide you with useful suggestions on your business idea. They will identify any missing information or research on your behalf. Additionally, they will offer simple business advice on how to improve your company’s performance.

During the start-up period of the business life cycle, a business consultant will help you deal with the specific difficulties that arise.

● Building a strong structure– Identifying the most appropriate structure for you.
● Registration may be a hassle– With assistance, you may avoid the hassle of registering your company with the government.
● Budgeting and planning– can help you in developing a practical and effective company strategy.
● Accounting system– can conduct an audit of your current accounting system and provide recommendations for improvements to guarantee that your system generates accurate and trustworthy financial statements.

Benefits of Getting the Assistance of a Business Consultant

● Protect your company from making potential mistakes and spending money that isn’t required.
● Provide a properly studied business plan.
● Most up-to-date legal and compliance knowledge.
● Understand all aspects of running a company from start to finish.

What does a business consultant do?

A business consultant’s goal is to help an organisation improve its performance and growth by finding creative ways to achieve corporate goals. They are equipped to handle difficult business problems by developing solutions that will enhance the operational and financial health of any organisation.

  • Identify barriers to growth or efficiency
  • Determine the changes that need to be made and help implement the changes
  • Provide necessary training and resources to staff and management
  • Bring unique ideas to rejuvenate the business
  • Support in business planning and creation of new business
  • Implementation of new programs
  • Analyze the budget of a business, provide recommendations for changes, and assist in implementing such changes
  • Select suppliers and partners to help accomplishing goals

Strategy Development For Your Business

Strategy development approach of a business consultant ensures that short term activities are aligned with long term aspirations, vision and purpose. Through market research and business analytics, they identify key issues, opportunities, and threats that affect an organization’s business model.

They collaborate with you to define and develop your organization’s fundamental mission and vision, as well as define the critical strategies necessary to achieve them. Then they plan, prioritise, and organize key initiatives into a roadmap with short-term, mid-term, and long-term goals.