Tips for Jumpstarting Your Business

Ramping up your small business can be both intimidating and exciting with so much to learn. You need to focus on your industry strengths, have a clear revenue generating strategy, and seek out the right support to get your business off to a promising start. 

Here are some tips to make the process easier: 

• Have a Business Plan – Creating a strong business plan is a good first step. The plan should include measurable, achievable goals and milestones, an understanding of your target market and a projection of revenue streams. Bear in mind, your business plan is a living document that you will need to revisit and update periodically. 
• Get the Right Help – Put together a team of trusted experts to support you as you grow your business. Begin with a financial institution, a legal firm, and an accountant. You may need a payroll company or a third party that can provide human resource services. It’s essential to communicate regularly with your support team so they can help you with any opportunities and challenges you may encounter.
• Make It Easy – Use technology to offer convenient purchase options for your customers and ways to make your operations efficient. The number one thing consumers do before they purchase a product or service is search online, so your online presence can be a crucial marketing tool. Also, make sure you have the right technology in place to accommodate workers who can work remotely if that is possible for your company. 
• Join Community-Based Groups - There are an amazing number of organizations aimed at helping small business owners. Small business development centers, like the one at Clark University, can help with business and financial plan development, cash flow analysis, and marketing and sales strategy. SCORE is the nation’s largest network of volunteer expert business mentors. They work in partnership with local chapters of the Chamber of Commerce to organize business roundtables where small business owners can connect with other owners of similar industries and share ideas and tips and tricks within their market. They also host live webinars and can connect you with a virtual mentor. Each town also should have a chapter of Business Networking International that will set you up with a group to help you build your business network, refer and/or receive new clients, and gain new business partnerships within your community. 
  

Workers Credit Union helps make small businesses grow and thrive. Our business relationship managers are here to provide you with the support you need. And we’re proud to be one of the top credited SBA lenders in the region. 

Contact the Workers Credit Union Business team to jumpstart your business today!