Whether you’re just getting started or looking to grow your business, we are here for you to help chart a course.
Understanding why and how so many small business ventures fail within their first year gives you some key insights to developing a business strategy to overcome hidden risks that will likely come your way. Of course, you can’t avoid or eliminate all risk, but having a business plan can help you understand how to navigate different scenarios as they arise.
SBDC knows that the top two reasons new businesses fail are lack of market demand and inadequate capital. We’ll help your business understand industry trends and marketplace competition so, together, we can prepare a road map to reach your business goals.
A few of our business planning advising areas include:
Market Analysis: Markets are constantly evolving, as are your business offerings. We will advise you to adapt and identify new customers and other potential new opportunities in the market, helping to redevelop a marketing strategy and execution plan based on a market segmentation analysis and industry research.
Disaster Preparedness: Statistics show that if a small business cannot resume operations within 10 days of a natural disaster, it will most likely permanently close its doors. Aside from natural disasters like wildfires, earthquakes, and flooding, it’s important to establish a plan for economic disasters. SBDC will help your business prepare for the unexpected.
Permits and Licensing: The details of permitting and licensing can be overwhelming. We have experts who have been there and know how to apply and secure the correct permits and licenses for any change in your business. Whether you are relocating or expanding, we will help define the permit project scope, identify the required permits, and provide contact information for the correct agency.
Financial Forecasting: We may not have a crystal ball, but we can help you forecast future revenue and expenses to help you pitch to potential investors, for inclusion in your business plan or for other funding opportunities.