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Revenue Diversification Engagement

Strategic Advisor

Diversification Strategy

LOCATION

Ottawa, Canada

OUR ROLE

Strategic Advisory

OVERVIEW

Acted as sole Strategic Advisor to a service based business in Canada.

Our Firms Role:

Solv advisors acted as a Strategic Advisor for a service-based business that was looking to expand its revenue streams in Canada. This was necessitated by a significant decline in revenues generated YOY, due to country wide shut-downs during the COVID 19 pandemic. 

Our Mandate:

  1. Help understand the brand value of the business to advise on potential portfolio expansion
  2. Propose a potential product roadmap within the company’s ability in terms of resources, skillset, and workforce to implement. 
  3. Research the market to assess the opportunities in terms of Revenue Potential vs Market Entry
  4. Identify the tools needed to be leveraged by the business to ensure the success of this endeavor. 

Results of the Engagement: 

  1. Created user profiles of target customers to assist understanding pain points that the company can solve with ideal product offering. 
  2. Formulated an eCommerce strategy to provide the product offerings to the targeted customer segments. 
  3. Based on the results of our research, Solv Advisors built a compelling case for a 2-pronged approach. 
    • Identified synergetic products that would leverage the brand value of the business to enter the market with relative ease.
    • Allow newly identified products to be available to the North American market by entering into the eCommerce space.
  4. Created an implementation timeline for the company to execute, covering the following aspects. 
    1. Finalizing the product design 
    2. Identifying vendors for product sourcing and placing MOQ 
    3. Setting up the digital space on a hosting platform to showcase the ordered products
    4. Launching Ad campaign that reaches the target audience through proper channels. 
    5. Soft-launching the product for Beta-testing purposes. 
    6. Streamlining fulfillment of orders
    7. Officially launching the product line
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400 Cooper St #901, Ottawa, ON K2P 2H8

(613) 604-5257

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400 Cooper St #901, Ottawa, ON K2P 2H8

(613) 604-5257