Interested in starting your own entrepreneurial journey in business services but unsure what to expect? Then read up on our interview with Nilesh Mehta, Founder and CEO of Independence Bridge Consulting, located in Philadelphia, PA, USA.
What's your business, and who are your customers?
My business is Independence Bridge Consulting, a boutique management consulting firm based in Philadelphia, Pennsylvania. Our customers are middle-market hospitality (hotel, restaurant, nightlife management companies) and retailers.
Tell us about yourself
I am a native of South Jersey but spent most of my adult life in NY. Graduated from Stony Brook University, started a consulting career, and eventually made the leap to startups. Seeing the despair and chaos during the pandemic’s start was horrible. Hundreds of thousands of businesses closed their doors because they were not financially healthy. The secondary motivation behind my business is the economic success of my clients. The thing that keeps me going is my belief that middle-market businesses underestimate the ROI of technology spending. A few bad experiences turn them off from making critical investments, leaving their business less competitive and able to compete.
What's your biggest accomplishment as a business owner?
Opportunity to make an impact on people. Many may disagree with this, but management consultants make a difference. I am constantly advocating for workers to executives. Helping executives understand the value of retaining employees & creating a positive work environment where individuals can succeed. I am uniquely positioned to push back and articulate the value of making life easier for employees. Technology plays an increasingly larger role in automating repetitive tasks and stuff people don’t like to do.
What's one of the hardest things that comes with being a business owner?
There’s uncertainty. I’ve bootstrapped my business, so it is a huge investment at the end of the day. Business owners understand that results are not always immediate. It takes time to develop relationships, and marketing & sales take a lot of time to get right. We live in a social media world where everyone is an influencer, so it is sometimes difficult to see others’ success, but you should believe in your mission. There are a lot of bad days as a business owner, but for personal & professional growth, it is the most effective tool to develop new skills.
What are the top tips you'd give to anyone looking to start, run and grow a business today?
- Keep a salary until your business is profitable. It is ok to work on something as a side hustle until it isn’t. This will be difficult because you will need to wake up earlier and have more discipline, but the results could be amazing.
- Build a network of founders & experts. There’s a lot of noise out there from people who have never done it. People like to talk, but you can’t listen to everyone. Pick people who you respect and trust. Develop your network and invest in those relationships.
- Planning is critical. Know your numbers and figure out gaps in the sales process to close deals in a shorter time period.
Where can people find you and your business?
Website: https://www.indebridge.com/
LinkedIn: https://www.linkedin.com/in/nilesh-mehta-phl/
If you like what you've read here and have your own story as a solo or small business entrepreneur that you'd like to share, then please answer these interview questions. We'd love to feature your journey on these pages.
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