How to Make the Most of Expert Calls in a Changing Business Environment

Market leaders typically have a competitive advantage over other businesses, but gaining such an advantage is a tough job in a fierce business environment, and companies spend a great deal of resources to achieve this.

As a startup entrepreneur, it is important to leverage all the available resources, especially information. With this in mind, expert network calls are a critical tool for startups by allowing industry professionals to be contacted to provide valuable and niche information for a business.

Armed with this information, companies can then refine their plans and discover new opportunities by enriching their knowledge with valuable data such as customer behavior, market trends, and technical developments, among many others.

Using a platform called Expert Network Calls, startups can gain access to professionals around the world by simply interacting with whichever expert network they choose. After this, the selected network will connect them with the most suitable industry professionals.

Let’s dive deeper into why using expert calls can benefit startups.

Strategic Benefits of Leveraging Expert Calls for Startups

What strategic advantages do expert consultations offer startups? Let's examine how the information gathered can boost competitive edge, spur growth, and reduce risks in the entrepreneurial environment, providing a path to intelligent decisions and sustainable success.

Strategic Advantage #1: Enhanced Market Flexibility

With limited and constantly changing data, startups have to navigate across sometimes very narrow markets. Interacting with professionals in the field provides access to deep insights and emerging trends that the mainstream market has not yet captured.

Strategic Advantage #2: In-depth Competitive Analysis

Acquiring in-depth knowledge of the competitive environment is crucial, especially when openly available data is simply not enough. Consulting with specialists who are knowledgeable about particular competition patterns can provide a comprehensive understanding of opponents’ tactics, performance indicators, and possible future moves, enabling startups to effectively adjust to gain benefits.

Strategic Advantage #3: Product Development Insights

Gaining advice from experts can greatly reduce the likelihood of creating inferior products that fail to meet consumer needs. Their assessments can support hypotheses, and experts can provide recommendations for improvements, and even indicate areas where strategic alliances might be formed.

Strategic Advantage #4: Risk Mitigation Strategies

Regulatory framework experts can help businesses navigate the complex legal and compliance hurdles that are common in their fields, particularly in highly regulated areas like biotechnology, fintech, and healthcare.

Strategic Advantage #5: Investment and Funding Guidance

Startups looking for funding can greatly benefit from the advice provided by professionals with extensive knowledge of the investment world or those with practical expertise in venture capital. Their counsel can improve negotiation tactics, suggest qualified investors, and improve fundraising proposals.

Strategic Advantage #6: Sales and Marketing Strategy Refinement

Sales and marketing strategies that have previously proven to be effective can contribute to the successful introduction of new products. Specialists in these fields can provide customized strategies that align with the unique characteristics of the sector, pinpoint the most effective marketing channels, and help startups to avoid typical mistakes.

Strategic Advantage #7: Facilitating Operations Outside the Local Market

When a business wants to enter a new market, it is obvious that former players and experts from that sector will be able to provide valuable insights into the cultural nuances, business etiquette, and market realities that are essential for a successful entry strategy.

How to Integrate Expert Calls into a Startup’s Strategy. Six easy steps.

Step 1. Determine the Areas of Need

Spot knowledge gaps in your startup that will most likely require expert insights. Be aware of the direction the market is heading towards, as well as the regulatory risks (if you’re not, ask the expert). Address these areas according to their level of importance for your company.

Step 2. Choose the most suitable experts

After determining the areas of need, talk to those professionals with a high level of credibility and experience who can provide the most useful and relevant recommendations.

Step 3. Get ready for the call

Establish specific goals for the call, and compile a list of questions focusing on obtaining specific insights and not just general information.

Step 4. Contact

Using ENC, an expert network platform, can help startups get in touch with the most relevant networks so they can ultimately find the best professionals for any project.

Step 5. Following the call

Evaluate and summarize the information obtained. Determine its potential effect on your strategy and the steps you should take. Consult your team regarding the insights and determine ways to use the information gained within your daily operations.

Final step: Repeat the previous five steps periodically.

Final word:

Managing a startup is a complex process that requires market knowledge. Expert calls have the potential to help those trying to grow their startups. They provide a unique look at the current state of the industry, are a source of competent assistance, and offer a relationship that can significantly impact a startup's future.