From Challenges to Solutions: Mukul Goyal on Transformative Strategies in Consulting

Mukul Goyal Founder of Stratefix Consulting

An interview with Mukul Goyal, Founder of Stratefix Consulting, a business consulting firm helping MSMEs and SMEs.

In an exclusive interview with Mukul Goyal, founder of Stratefix Consulting, we delve into his inspiring journey of empowering MSMEs and SMEs.

With a wealth of experience in business strategy, Mukul shares insights on overcoming challenges faced by small businesses and the innovative solutions his firm offers to drive growth and sustainability.

Can you share your background and how your experiences led you to focus on consulting for MSMEs and SMEs?

Mukul Goyal: My journey began in the corporate sector, where I witnessed first-hand the challenges faced by small and medium enterprises (SMEs) in India. After working with various organizations, I realized that many MSMEs struggled with strategic planning and execution due to limited resources and expertise.

There were organizations providing advisory however businesses still needed help with execution. 

This inspired me to establish Stratefix Consulting, an implementation-based management consulting, aiming to empower these businesses by providing tailored strategies that drive growth.

Over the years, our firm has successfully assisted over 500 clients across 70 industries, helping them navigate their unique challenges.

What specific services does Stratefix Consulting offer to MSMEs and SMEs, and how do they address the unique challenges these businesses face?

Mukul Goyal: At Stratefix Consulting, we offer a comprehensive suite of services tailored for MSMEs and SMEs, including strategic planning, operational efficiency optimization, HR transformation, sales consulting, business process re-engineering and market analysis.

Our “Strategy + Execution” model ensures that we not only devise strategies but also assist in implementing them effectively. For example, we help businesses streamline their operations using advanced technologies like data analytics and HR management systems, addressing common pain points such as resource allocation and employee engagement.

Our services are uniquely tailored with a clear aim of bridging the gap between strategy and execution for MSMEs and SMEs. By aligning processes with business goals, we ensure that MSMEs have the tools and strategies to scale successfully.

What are some of the common challenges you see MSMEs and SMEs facing today, and how can they effectively overcome them?

Mukul Goyal: A major challenge for MSMEs today is scaling sustainably while managing limited resources. MSMEs often lack the structure or resources to implement growth strategies, so we focus on a hands-on approach.

Common challenges for MSMEs include access to finance, lack of skilled workforce, and operational inefficiencies. Many businesses face operational inefficiencies, struggle with talent retention, and lack robust digital infrastructure.

I would encourage MSMEs to focus on optimizing their operations through lean practices and digital tools, which improve efficiency without increasing costs.

Strategic HR interventions also play a crucial role in building resilient teams, which is essential for long-term growth. Businesses must adopt a proactive approach—seeking government schemes like the Emergency Credit Line Guarantee Scheme (ECLGS) for financial support.

Additionally, investing in employee training programs can bridge skill gaps. For example, our clients who embraced continuous learning initiatives have reported improved productivity and higher employee satisfaction.

Are there any emerging technologies or strategies you believe will significantly impact small and medium enterprises?

Mukul Goyal: Emerging technologies such as artificial intelligence (AI), machine learning (ML), and automation are set to revolutionize the MSME landscape.

These technologies can enhance decision-making processes, streamline operations, optimize supply chains, forecast demand more accurately, reduce manual errors, leading to cost savings and improve overall customer experiences.

AI-driven analytics can help businesses predict market trends more accurately. We encourage our clients to integrate these technologies into their operations to stay competitive in an increasingly digital marketplace.

For example, leveraging AI for customer insights helps SMEs better understand market trends and consumer behavior, thereby driving more targeted marketing efforts.

At Stratefix, we’ve already helped businesses adopt these technologies to improve decision-making and drive operational efficiency.

How do you plan to expand your reach and influence in the consulting space for MSMEs and SMEs?

Mukul Goyal: Our expansion strategy focuses on establishing a strong presence in key markets like Ahmedabad while also reaching out to tier 2 and tier 3 cities across India, where the next wave of MSME growth is happening.

By investing ₹5 crores in marketing and infrastructure, we aim to enhance our service delivery capabilities. Additionally, we are expanding our team of experts in HR, sales, operations and digital innovation to deliver even more comprehensive solutions.

Our goal is to transform at least 200 local businesses over the next five years by providing tailored consulting services that address their specific needs.

By adopting a proactive approach to emerging trends like digital transformation, we aim to help more businesses thrive in a competitive environment.

What advice would you give to aspiring entrepreneurs looking to start or grow their own MSMEs or SMEs?

Mukul Goyal: My advice for aspiring entrepreneurs is to embrace a growth mindset from day one. Focus on building a solid business plan that outlines clear goals and timelines. Having a clear vision is important, but without the right processes and talent in place, scaling can be a challenge.

Don’t hesitate to seek mentorship or consulting services to guide you through challenges. Also, leverage technology to streamline operations and enhance customer engagement. Remember, consistency is key; stay committed to your vision even during tough times.

At Stratefix Consulting, we are dedicated to empowering MSMEs and SMEs across India with personalized strategies that drive growth.

We exist to help businesses overcome obstacles and fast-track growth by implementing practically proven growth strategies.

Lastly, adaptability is key. The business environment is evolving rapidly, so keeping pace with market trends and technology is crucial for long-term success.

As we wrap up our conversation, Mukul Goyal’s passion for supporting entrepreneurs shines through. His dedication to fostering success in the MSME sector is not just commendable but essential in today’s dynamic business landscape.

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