BUSINESS ENGINEERING

Business engineering refers to developing and implementing business solutions that create a business from scratch, place it on a viable financial trajectory and assist in its successful management.

Business engineering services include but are not limited to:

• Business model: Coming up with a clear plan that outlines how your company is supposed to make money and operate is the most crucial part your venture’s success. Without a viable business model, even the greatest product or the service cannot create a profitable business. 
• Market research: Market research involves collecting and analyzing information about the market, including potential customers and competitors. This process helps businesses understand current market conditions, pinpoint opportunities, and navigate potential challenges.
• Feasibility Report: A feasibility report evaluates the practicality of a business idea or project, assessing whether it can succeed in the existing market and technical landscape. 
• Branding: A brand is what a business calls its products and/or services. A brand helps consumers and costumers identify your businesses’ products and/or services and separate them from competitors.
• Trademark: A trademark means to obtain IP rights of your brand. It allows your business to use your brand and prevents other businesses from using or copying your brand.
• Due diligence (in case of investing into an existing business): Due diligence is the process of assessing the assets and liabilities of a business before the investors invests into it. 
• Company incorporation (in case of starting a new business): Incorporating a company and conducting business on behalf of the company has many benefits, the most important of which is that it helps the business owner limit his/her liability to the amount of capital that he/she invests into the company. In other words, incorporation helps prevent personal bankruptcy. 
• Office space: Finding and renting the right office space allows you to efficiently manage your team in that working space and conduct business meetings with customers and business partners.
• Banking: Opening bank accounts, obtaining a line of credit, obtaining credit cards and debit cards, being granted mail order and other payment solutions are essential for a company’s financial operation. 
• Human Resources: Recruiting employees, training teams and entering into employment contracts are integral parts of HR.
• Website: Purchasing a domain name, hiring hosting services, designing and building a website are crucial steps in the marketing of your services and products.
• Social Media: Social media is a powerful tool in modern-day marketing. It includes opening social media accounts, creating content, managing the account and interacting with your audience.
• Marketing: In lead-based businesses, marketing are the means of generating leads that flow to your system. Marketing can be in various forms such as electronic (website and social media), conventional (TV, billboards, radio) or below the line (mail, brochure, catalogs).
• Sales: In lead-based businesses, establishing a call center and a sales team is required for managing the lead flow. On the other hand, in e-commerce businesses you can avoid paying for a large sales team by building an e-commerce website and the required financial infrastructure.
• B2B Connections: Establishing business connections, drafting and signing partnership agreements with other businesses can be mutually-beneficial.
• Accounting: Collecting and issuing invoices, collecting payments, paying vendors, contractors and employees, paying taxes and keeping a proper account of all these are called “front accounting” in Turkey.
• Legal counsel: Legal counsel helps a business to minimize liabilities, mitigate legal disputes and even prevent them from arising in the first place.
• Financial reports: Financial reports allow managers and investors to keep track of the financial data, draw the necessary conclusions from those data, adjust their strategies and make macro decisions.
• Corporate management and restructuring: As a company grows, adjusting its structure becomes inevitable. The need for a restructuring may be caused due to various events such as distributing profits, taking loans, allowing new investors to join in, replacing members in its board of directors, extending the board’s term and making amendments in the company charter.

Business engineering solutions streamline operations, optimize processes, and drive growth. Choosing the right consultancy firm to guide these intricate transformations is vital. A well-chosen firm not only brings industry-specific expertise but also offers tailored solutions that align with a company’s unique needs and goals.