As a business owner, finances play a pivotal role in shaping and executing your growth strategy. Thinking through the following will help you employ a structured approach to driving sustainable expansion: Develop dynamic financial models to project revenue, expenses, and cash flow envisioning different growth scenarios. By creating best-case and […]
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As 2025 approaches, small business owners must focus on building a clear strategic plan to stay competitive. A strategic plan helps define your goals, understand your target audience, and identify the resources you need to grow. Start by evaluating your business’s current strengths and weaknesses. This includes reviewing your finances, […]
Building a positive workplace culture isn’t just a goal for large corporations—it’s essential for small businesses too. In fact, smaller companies have unique advantages when it comes to shaping and nurturing a culture that’s engaging, positive, and productive. When you invest in creating a supportive, values-driven environment, your employees feel […]
The holidays are coming up: should I wait to apply for a business loan? As a current or future business owner, the holidays can be a frustrating time to access capital. There are many factors applying and closing a business loan in a normal scenario so dealing with holidays […]
Your business may be relatively new, but if things are going well and/or if you want to retain good people, you may be considering offering some sort of benefits. The first place that new business owners often look is for professional development training; employees feel valued when their employer invests […]
“It takes money to make money” is a phrase that most entrepreneurs have heard – and lived. Yes, there are many business models that can be started on a shoestring, particularly in some service industries, but often a new or growing business will require an injection of capital in order […]
Starting a business is no easy task and not for the faint at heart. But there are many areas you can focus on to help ensure your business stays afloat beyond its first year and continues to succeed for years after. According to the U.S. Bureau of Labor Statistics, more […]
by Stephanie Willis, Kansas SBDC Advisor Sales Solves Everything! The key to a successful sales and growth strategy is a process. As illustrated in the below graph in a study by Hubspot, companies who defined their Customer Journey and sales process achieved: Greater Return on Marketing Investment Improvement on Sales […]
by Darren Fichtner, Kansas SBDC Advisor Do Not Let a Recession — or Fear of It – Alter Your Growth PlansIf your business is on a growth trajectory, don’t let the recession stop you. Entrepreneurs, by nature, are risk-takers, after all. You may have to be willing to endure some […]
3 Tips on How Knowing Your Numbers Relates to a Successful Business Model Advice from an Advisor Darren Fichtner What numbers should I measure? There aren’t a set of hard and fast rules that apply to all businesses. Knowing the best numbers to measure for your business will be impacted […]