risk mitigation

How we help young entrepreneurs?

As business leaders, we are happy to help international young people that study in Canada, not only through our Eduadvantages business but also to volunteer from time to time to support their entrepreneurial ventures.

A recent business challenge of a young Canadian based entrepreneurial team was how to transition existing clients to a new solution while concurrently maintaining and growing their business. This is a challenge for both small and large companies even though in the latter case a lesser challenge in that resource constraints might not be a major factor. In my experience having a “multi-dextrous” approach in business can often be a challenge as companies with limited resources, shift focus to address urgent requirements, resulting in dropping the ball in other areas of the business. At the core of my advice are the organization’s goals of ensuring “seamless and enhanced customer experience”, a “progressive process” and “validated solution”. The following summarized my advice

1) Create a dedicated Transition Team

This team should have the skills necessary to complete a seamless transition of the clients. The team could comprise of one or more core team members with specific support from other members. It should be business as usual for the remainder of the organization. This ambidextrous approach ensures continued focus on growth and new business. Having all employees onboard is important in that there could be a shift or additional workload for some team members.

2) Analyze the Client Base

Segment the existing client base into homogeneous groups of customers to understand client impacts. This requires the development of specific client or client group proposals as the pitches for client conversations and negotiations could vary depending on the respective client impact.

3) Client Strategies

New Clients

In the case of new clients a cut-over date should be established. Effective the cutover date marketing to new clients, including the unique value proposition and messaging, should reflect the feature(s) picked to move forward e.g. the communication one.

Existing Clients

Step 1: Create a value proposition to migration pitch for the client

It would be helpful for the company to understand quantitative and qualitative business case for the transition both from the company and client perspectives especially the client “pain” or impact associated with the proposed changes. The objective should be to match the current client benefit and/or add value when the transition is completed.

Step 2: Engage client in the process

Aligned to seamless and enhanced customer experience, my suggestion is to engage clients in transition conversations. It is important to have prior understanding of how clients are utilizing the feature set. In the case of the clients that are not willing to relinquish their features, the company could examine pricing /promotional incentives.

Step 3: Mitigate Risks in the Transition Process

My suggestion is to start the negotiations and the actual transition /cutover process with the smaller less risky clients within each group to prove in /validate the messaging, pricing, and solution.

To summarize the advice is to work through the process to create a win-win with each and every client!

Blog by: Princess Alexander

Posted on by admin in International Students, Students Leave a comment

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  • Top Reasons International Students come to Canada

    The Bureau of International Education lists 3 of the top reasons international students come to Canada as:

    • Quality of Canadian Education System
    • Canada’s reputation as a tolerant and non-discriminatory society, and
    • Canada’s reputation as a safe country


    <strong><em><a href=”https://www.cicnews.com/2017/07/canada-second-best-country-world-immigrant-study-finds-079320.html”>“Canada has been ranked as the top country outside Europe, and the second-best country worldwide, to live as an immigrant. Only Sweden is ranked higher than Canada”.</a></em></strong></a>