2019 Business Prep

By sbdceditor,

In a hurry to plan out the new year? 

Start Here, Start Now!

So you want to start a business, what’s the next step? It’s time to make some key decisions to determine the feasibility of your business ideas. Download our business start-up checklist to get going!

Starting the new year with a plan is an important first step. A business plan summarizes your business opportunity, your customers, and much more. The plan will take you step by step in making key decisions of how you want to market your product to your customers and develop your business. Remember! It is important to clarify the uniqueness of your product when potential investors would like to fund your products. Define your business’s best strengths and opportunities that will set you apart from your competitors. Our downloadable template covers everything from industry analysis to financial planning. Don’t wait to set an appointment with our helpful consultants, they can even request market research reports for you benchmarking data and help you identify your clients at a location near you.

Considering a Franchise in 2019?

Launching a franchise in 2019 can be tricky. There are many things to think about before heading straight into a huge commitment. Are ready to be your own boss? Are you confident that your end game lies in franchising your business? Then here’s some expert advice on how to start. Don’t forget to pay a visit to Michael Sawitz, our SBDC franchise expert who has worked in the retail market, virtual reality, med-tech and more.

Keep the Cash Flowin’

How can you make sure my business is staying on track with its receivables and all those great sales? Having a structured balance sheet and keeping an eye out for any decreases in cash flow are just a few pointers in how to manage your sales effectively. Our 11 cash flow tips  will help you start thinking about important factors such as: timing, amount, usage, cost, control issues and consequences. Learn how to be smart about your money and save with our round-up of investing apps:

Acorns 

Mint

     

 

Lastly, Spread the Word

Is your bakery or personal training service the best in town? Let it be known fast and loud with social media. Take a step further from online advertisements to reach audiences nationwide. Imagine customers flying out to get a taste of your famous goods! Social media advertising is a great opportunity to test out both earned and paid media exposure. Depending on your business, each platform has its own advantages (i.e. Pinterest is great for selling/introducing food and clothing products). With paid social media advertisements, you can get really creative with how you want to communicate with your customers. Your business can target not only cupcake lovers, but even niche lovers of all things chocolate! You can find your voice using social media ads and here’s how.

Hungry for more? Check out more of SBDC’s Insights!

 

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