For some businesses, the global pandemic had a massively detrimental impact. They’ve spent the past 18 months in survival mode trying to stay afloat. For others, their business has flourished — possibly at a pace much quicker than ever anticipated.
Both of these scenarios present their own unique challenges and as we slowly begin to ease back to “normal,” many business owners are finding themselves unsure of how to proceed.
At the Green River College Small Business Development Center (SBDC), we understand that now is a time where many business owners are looking to regroup and reset. That’s exactly why it’s the ideal time to work with one of our business advisors.
Our Small Business Development Center small business advisors are here to offer no-cost, one-on-one consulting services designed to help small business owners identify areas of opportunity. Having a trusted advisor who can provide support and guidance on your next steps can help you move ahead with confidence and a solid plan in place.
Not sure exactly what you need help with?
Here’s an overview of how our small business advisors can help.
Whether you’re just starting out with a small business or if you’ve been at it for years, there’s tremendous value in having another set of eyes take a look at what you’re doing.
When you come in for a business assessment, our small business advisors will help you evaluate your business strategy to ensure you’re well-positioned in the marketplace. They’ll walk through a high-level overview of marketing, location, employees as well as your products and services to help ensure you have a plan to meet your business goals.
Business Financial Analysis and Planning
Having a strong handle on your finances is critical for any small business. Understanding where you stand on things like expenses versus revenue or profit and loss is the first step towards having a clear picture of your bottom line.
Our small business advisors will review and analyze three financial statements and then offer suggestions of possible areas of improvement for your business. Small business advisors can provide industry-specific comparisons so you can see how you stack up against your competition.
Additionally, they can explain how to produce forecasts to help you prepare and plan for the future.
Business Funding and Expansion
Looking to fund a new business or expand an existing one? Both of these options require funding, so our small business advisors are here to help explain the lending process.
Securing funds means having a business plan, and our advisors can walk you through the principles of creating one. They can help you evaluate the pros and cons of leasing versus purchasing a property, and guide you when making other big decisions that will impact your bottom line.
Finally, small business advisors can make introductions to lenders when you’re ready to move ahead with securing funding.
Business Start-Up and Management
If you’re in the early stages of starting up a new business, small business advisors can offer a wide array of information — starting with the selection of the right business entity.
Some of the steps small business advisors can guide you on include:
- How to obtain a state license and UBI number.
- How to apply for a federal EIN number.
- How to apply for a city license.
- Obtaining a reseller’s permit.
- Completing a Combined Excise tax return.
Additionally, you can expect your small business advisors to provide some guidance on hiring, as well as the different paperwork you’ll need to complete when you bring new employees on board.
Buying or Selling a Business
When it comes to buying or selling a business, your small business advisors can be an incredible resource. They’ll walk you through the process for either scenario, including how to navigate pricing and negotiations. Due diligence is a critical piece of any purchase or sale, so having small business advisors on your side can help guide you.
When selling a business, the books will need to be in order, so we can help you get prepared. We can work with you on how to value your business for sale, and how to find the right buyers.
Subordinated debt is also something that has to be considered, and our small business advisors can also share how this can impact you.
Great marketing is a cornerstone to your success. Whether it’s email marketing, social media, or a print campaign, your marketing needs to be done with intention if you want it to be effective.
Marketing is about so much more than advertising, so if you want your marketing to yield results, you need to start by defining the characteristics and personality of your customers. Our small business advisors can help you build your buyer personas so that your marketing is targeting the right group of people.
They will focus on guiding you as you create a marketing strategy that includes all the key ingredients — price, product, placement and promotion.
As most small business owners know, having a great network can be a big part of their success. That’s why our small business advisors have built a network of referrals to help our clients get the help they need to thrive.
Our referral services include introductions to professionals including attorneys, web designers, CPAs and so much more.
Get In Touch with a Local Small Business Advisor
As you can see, if you’re looking for assistance in devising a strategy that addresses several different marketplace environments, our small business advisors can be a tremendous resource.
By meeting with our small business advisors, you’ll get the guidance you need to help ensure your small business can grow and thrive for years to come.
If you’re ready to book an appointment and get started with our small business advisors, you can contact us right here.