Given the last 16 months, it will come as no surprise that we’ve seen many companies go out of business (and a smaller number merging), particularly as many in the drone industry have not qualified for Government support, or if they have, it hasn’t been enough to sustain their businesses in their previous structure or business model.
Additionally, and prominently, there has been a successful drive towards enabling drone delivery services for COVID19 and associated medical applications, and subsequently an acceleration towards routine BVLOS operations. This is where we have seen the public purse throw more weight behind things, eventually feeding into the day to day work in the broader industry.
Worth noting, too, is a substantial growth in demand for drone services, fuelled by a sharper focus in people’s minds to discover and use remote and socially distant methods to comply with health and safety regulations, only helped by positive news about drones assisting during the pandemic.
What do drone companies currently require help with?
We see two strands of assistance that can be simplified to ‘survive and thrive’.
Firstly, survival and the realisation that their business may not be on the most secure footing: for example, did they have a continuity or contingency plan in place; do they have a business growth strategy; are they aware of the financial assistance out there for them; have they signed up to contracts without expert review which are now exposing them to significant risks and consequences. The list goes on, and so a proper business health check is advised.
Secondly, if they are ok and now looking to thrive, what can they do to elevate themselves above everyone else? How are they going to commercialise their products and services best and cut through the noise? How will they disrupt a disruptive industry? Again, many aspects to this and it’s advised to seek professional support to maximise success.
How consultancy firms can help drone companies
As I alluded to above, expert assistance can be the difference between success and failure. Bringing in support that hasn’t been trapped in the bubble of a particular business and who has knowledge and expertise of the local, global, and industry-wide landscape ensures that companies are best positioned for long term success, not just flash in the pan stuff, which we all see frequently.
A specific project, campaign, or regular retained support from an expert consultancy who has been there and done it, has been proven to provide quicker, more impactful and enduring success for an investment less than full-time staff equivalent.
How consultancy firms are having to adapt their products/services/support
Consultancies shouldn’t be seen as the expensive, bad guys, but they often are. There are many reasons why expert consultancies exist, and why so many choose to gain the benefits from using them: the main ones being they’ve been through it all or provide unique insights that are a rare commodity.
So, breaking down those barriers to present valid credentials and value to prospective clients is required more often.
Additionally, we’re focusing services more on what I mentioned earlier, as well as innovating ourselves, becoming more data-driven, and learning how to create effective support remotely compared to the preference of sitting down beside a client and building that relationship and more collaborative approach in person.