Does your business idea meet your customers' needs?

Did you know that almost 35 per cent of all new businesses are bankrupt within 3 years? While this is hardly encouraging, there are many things you can do to make sure your company does not meet the same fate, even if you are innovators. The secret? Well, it is mainly a matter of understanding your customers’ needs and having a profitable business model.

There is a great deal to consider when you start a new business or develop something new, whether that be an innovative product or service, an organisation or a business model. We can help you to widen your perspective, set realistic goals and get started. We will also examine your financing needs and the various solutions that may be relevant to your company.

Whether your business is in its infancy, you are considering embarking on a business venture based around an innovative idea or your existing business is launching a new product or service, you need a deep understanding of both your customers’ needs and the industry in which you will be operating if you are to ensure that your idea is sustainable.

We place great emphasis on strategic issues and together we will examine your goals, business model, product/service and pricing.

We ask the questions and together we will look at the big picture, set goals and get down to work. We will also examine your financing needs and the various solutions that may be relevant to your company

Our point of departure is always your company’s specific needs and, whether your company is a startup or well-established, we will help your business to go from words to deeds.

Among other things, we can help you to:

• identify the customer needs your idea addresses;
• determine how to reach your customers;
• set and assess your goals, identifying any critical obstacles;
• map your competitors and the industry as a whole – where they are, how the industry operates and where your market is growing; and
• review your company’s financing needs and find relevant solutions.

Regardless of whether you are planning to launch a new business to commercialise your idea or you developing it through an existing company, if you are to ensure that your idea is sustainable you need a deep understanding of both your customers’ needs and the industry in which you will be operating.

Among other things, we can help you to:

• identify the customer needs your idea addresses;
• map your competitors and the industry as a whole – where they are, how the industry operates and where your market is growing;
• identify your company’s intangible assets; and
• review your company’s financing needs and find relevant solutions.

First meeting: Discussing your needs

During our initial meeting, we will discuss and assess your company’s needs and challenges and explore how Almi or other actors can help you meet them. We ask the questions and provide you with the tools, you have the answers and, together, we make a plan for the future.

Before we take you on as a client

Your Almi advisor will propose a course of action for your approval. Whenever we initiate a business relationship, we also ask the client to fill out a Customer Dues Diligence (CDD) form. This is so we can protect ourselves, our customers and society at large from criminal activities such as money laundering, trafficking, drug dealing, terrorist financing, the illegal arms trade and tax evasion.

Learn more about Customer Due Diligence (CDD) here.

A sustainability dialogue to equip you for the future

Whether the next step in your relationship with us is a loan or a business development service, you will  be expected to enter into a sustainability dialogue with us. Sustainability is a vital issue not only for the planet but also for you, and your customers and employees expect you to engage with it. This is where our sustainability dialogue comes in. Whenever you avail yourself of Almi’s services, we will conduct a sustainability dialogue focused on your company’s sustainability management.

You will obtain basic knowledge of sustainability in general and how it affects your business and development opportunities in particular. You and your Almi advisor will enter into a dialogue about your operations. They will also help you prioritise your next steps. This will leave you better prepared to face the future and more confident that you are investing your time and money in the right areas. 

A sustainability dialogue generally lasts for between one and three hours and is entirely free of charge.

What you will take away with you

The route of your journey with Almi depends on the conclusions you and your advisor reach. However, you will always take the following away with you:

Relevance analysis

Not everyone can do everything, but everyone can do something. A relevance analysis allows you and your advisor to identify relevant focus areas for your company to work on.

Double materiality analysis

A double materiality analysis looks at both the impact of your company on people and the environment and the potential financial impact of sustainability issues on your company.

Performance analysis

A performance analysis helps you understand the gap between expectations and the actual/achieved or potential results of your operations. The analysis can be a useful tool to answer questions such as: Where are we? Where do we want to be? And how do we get there?

Risk and opportunity identification

Together with your advisor, you will identify new business opportunities when you incorporate sustainability into your business, as well as the risks associated with failing to do so.

Action plan

After the meeting, you will have an overarching action plan setting out the next steps for your company – whether you take them with Almi, with another partner or by yourselves.

The next stage

Once you and your Almi advisor concur that you have implemented the agreed action plan, we will always call you to follow up the results. This is an opportunity to reflect on questions such as: What measures have been taken? How did it go? And what is your next step?

We may not have the solution you need

Almi is a state-owned enterprise and our mission is to smooth the way for you and all of Sweden's entrepreneurs. Sometimes, we may not be able to offer the solution you need.

In such cases, thanks to our extensive network we can refer you to another institution or agency that may be able to assist you with your ongoing work.