1. What does Jarumi Consulting Ltd do?
Jarumi Consulting Ltd was designed for the purpose of empowering startups and small organizations across all industries to reach their full potential in operations and processes. We carry this out by identifying gaps that hinder visibility, resource mobilization through proposals and connecting you with the right partners who speak your organizations language.
2. What industries do you specialize in?
We take pride in our ability to learn the fundamentals of virtually any industry or technology quickly. Some of the markets we served include:
- Film production
- Engineering services
- Government services
- Specialty equipment manufacturing
- Commercial laundry services
- Financial-wealth management
- Technology firms (research & development)
- Website & digital marketing
3. How is a consulting project started and organized?
Although we customize just about everything to your business needs and goals, the typical consulting project is started and organized in the following ways:
- Initial consultation meeting(s) to determine your goals and current business challenges.
- If we require deeper information before or during building a proposal, we will have you sign a mutual NDA (non-disclosure agreement).
- We will develop a proposal that includes a SOW (statement and scope of work), pricing, timelines and any options or recommendations.
- Once the scope of the project is agreed, we will establish you in our systems for effective collaboration. (if applicable). This will also include a regular communications plan and milestone reporting.
- We will work our brilliance to make you and your business shine.
- Towards the end of the project, we will finalize knowledge transfer so the results are sustainable.
Although we will do an official closeout of the project, we will always be checking in to ensure that everything is working the way it should and you continue seeing the results you expect.
4. Can you guarantee that our plan will raise capital?
Of course not. Nobody can make that guarantee (and if somebody ever makes that guarantee, it is a good idea to run away quickly). A good plan is essential, but a plan alone will not get funded. Although we will do our best to help you prepare, we have no control over how well you present yourselves to investors, or how well you answer their questions. We can coach and we can mentor, but at the end of the day, it is your business and you must close the deal.
5. Can you help us raise money?
We can sometimes make informal introductions to potential investors or other intermediaries.
6. Do you ever invest in your clients?
No, we are management consultants, not investors.
7. Do we really need a business plan?
If you run a business, then it’s probably safe to say yes. In fact, you may require more than one business plan: one for raising capital and one for running your business. The former is a compact, easily digested strategic document that is designed to persuade potential investors to pick up the phone and invite you to their offices for an initial meeting. The latter is a more detailed document serving as a day-to-day roadmap, detailing the tactics supporting your overall strategy. The former needs to be an attractive document that sells; the latter can be a collection of spreadsheets, lists, research summaries, and other documents stuffed in a binder that you refer to and update on a regular basis.
8. Why should we hire a consultant to write out our business plan instead of doing it ourselves?
Typically our clients are experiencing one or more of the following scenarios:
- Struggling with challenges or obstacles within their business that is holding their company back from achieving growth and higher profitability;
- Challenged by scaling their business or developing and implementing a growth plan that actually delivers intended results;
- The company has outgrown their existing business processes, causing problems with daily operations (errors, increased costs, unreliable results, slower than expected output).
9. How does the process work?
Every situation is unique. However, some fairly common steps include the following:
- Initial discussion to understand your basic needs.
- Review your existing materials (draft business plans, financials, market research, competitor research, etc.).
- Follow-up discussion to clarify details and agree upon the scope and fees for the project.
- Several in-depth discussions to better understand the details, develop strategies, and agree on all major elements of the business plan and financial model.
- Conduct additional research, as needed.
- Draft an Investor Presentation and review it with you to ensure that all parties agree on the high-level vision.
- Draft the Executive Summary and review it with you to ensure that we all agree on the next level of detail.
- Prepare a draft outline of the business plan for your review.
- Begin filling in the details on the draft. Obtain and incorporate your feedback.
- Incorporate your revenue and expense models into the financial model, and explain how it works so that you can take “ownership” of the financials.
- Finalize all deliverables.
- Coach you on the best way to deliver the investor presentation and on how to address questions.
- Provide ongoing support, including making minor updates to the deliverables at no additional charge.
10. How long does it take?
This dependent on which service is selected and the scope of work.
11. What happens after you have delivered the final documents?
We remain available, at no extra charge, to answer follow-up questions, provide advice, and to make minor changes to the documents we produced for you.
12. How do you price your services?
We are a fixed price solution provider, who believes in providing ‘value’ to each of our clients and are committed to delivering results. We provide our clients with a not-to-exceed cost estimate before beginning any work. No one likes surprises, so we work with our clients to understand their specific business needs and then outline our plan of action and the associated costs to implement those solutions.
In general, we charge a pre-determined fixed fee. The fee is determined by:
- The scope of the project, in terms of the tasks and documents you require help with.
- The sophistication and specific needs of your target audience.
- The quality of your existing materials, including early drafts of business plans, financial forecasts, market research, competitive research, etc. For instance, if you have a recent, comprehensive research report, our effort can be significantly reduced.
- The clarity of your vision for your business model, marketing and distribution strategy, financial plans, etc.
- Your availability and willingness to participate in the preparation of the business plan, financial model, and investor presentation.
- The complexity of your industry and business model.
- The availability of industry information.
- The desired timing relative to our workload. In general, “rush” jobs will carry a substantial premium over projects that can be completed as our schedule permits.
13. Will you take all or part of your fees in equity, or defer it until after we raise capital?
Only under extraordinary circumstances, and only if you are already generating revenues.
14. What is your refund policy?
Your initial payment is non-refundable. This is because by the time you have decided to hire us, we have already set aside time to work with you, and we may even have turned away other opportunities in order to provide you with the best possible experience. Subsequent payments are subject to a pro-rated refund if you choose to terminate the project before we have fully earned the subsequent payment.
15. Will you sign a non-disclosure agreement?
Gladly. We prefer to use a Mutual NDA so that our own trade secrets can be protected as well.
16. Can you send us samples of your work?
We are unable to email you a sample, but if you would like a closer look, we can schedule an online screen sharing session via Zoom (or another online platform that is agreeable).
17. Where are you located, and how do you work with clients outside of your local area?
We are headquartered in Nairobi, Kenya, and have consultants in other locations. We rely heavily on the phone, e-mail, and online meeting tools. If desired, we are available to visit you at your offices for a day or two at a time.
18. What can I expect from the initial consultation?
Every potential new client meets with the founder of our company or a managing partner within our firm. This initial consultation is not a sales call, we want to provide full transparency to who we are as a company and have an open dialogue with you to determine how we might help your business. We do not try to be all things to all people, if we don’t believe we can solve your company’s challenges or meet its goals & expectations, then we are going to openly tell you that. Our firm is built on strong values and the belief that ‘our success is achieved by helping you be successful.’
19. How is the scope of a consulting project determined?
Depending on the business goals, challenges and size of the organization, a project scope is typically determined during the initial consultation sessions. For complex challenges and enterprise clients, we typically recommend an assessment phase at the beginning of the project.
This ensures that we identify and prioritize everything correctly and develop the best solution to meet your goals.
20. Do you work with startups?
Yes, some of our clients are start-ups. If you’re an entrepreneur developing or refining your business model, identifying target markets, defining your brand, mapping your business operations, strategizing your company launch, or seeking expertise in launching your company, then our firm can bring significant impact and expertise to your start-up.
21. What is the origin of Jarumi Consulting name?
Jarumi loosely translated means brave or courageous in Hausa. We wanted an African name to represent us and also show that no business challenge is too big (doing it with a smile).