Young Business

Marketing

Market Research: The SBDC helps clients define parameters to segment the market and define his or her business target.

Market Analysis: The SBDC directs clients in the development of a marketing strategy and execution plan based on the analysis of market segmentation and industry research. Resources that assist in designing the right marketing objective that fits the client’s business capabilities and the target market’s needs are provided. The SBDC also helps structure a feasible timeline for implementation based on factors like the product life cycle, innovation adoption lifecycle, and the client’s budget.

Sales Planning: The SBDC focuses the client on developing a sales strategy, complete with recommendations for a sales management system, measurable sales tactics, sales team responsibilities and roles, and recommended CRM systems.

Brand Messaging: The SBDC assists clients with envisioning how consumers may value his or her brand, evaluate the purpose and meaning of the brand, and what position the brand has with respect to competitors. A strategy for brand development, customer feedback, and validation is then designed to allow clients to monitor consumer perceptions of his or her brand.

Web Development/Content Development: The SBDC consults the client on the importance of design and functional elements required for the update or creation of business websites.  Resources are then also recommended to create or update the client’s business website. The SBDC works with clients to create an action plan with timelines and budgets for the completion of a robust business website.

Social Media: The SBDC consults clients on how social media outlets can be used as a push/pull strategy for promoting their business. The SBDC will recommend the best social media platforms for maximizing the client’s online presence. Clients will also learn when it may be appropriate to contract social media promotion services, the cost, the scope of service required for their business and more.

Networking: The SBDC discusses the importance of networking for both personal and business growth. In regards to the client’s business, public relations strategies are suggested in an effort to increase the awareness and credibility of the business. The SBDC also defines specific network channels and tactics to increase the business network.

Trade Show Consultation: The SBDC recommends resources where clients can find key trade shows related to his or her industry and product. The SBDC also prepares clients for professional networking and sales activities for trade shows, including consulting on collateral or displays necessary, as well follow-up strategies for leads and potential partners.

Legal & HR

Partnership Agreements: The SBDC guides clients through a draft outline of mutually desired outcomes and expectations. The SBDC supplies clients with legal assistance resources required to finalize the partnership agreement.

Becoming an Employer: The SBDC teaches clients all government and state agencies involved in payroll employee reporting. Necessary insurance and tax requirements related to hiring employees are shared with clients, too. Clients are also provided with contacts to remain updated with all employee compliance issues.

Employer Regulations:  Necessary insurance and tax requirements related to hiring employees are reviewed and shared with clients. Clients are also provided with contacts to remain updated with all employee compliance issues.

Hiring Employees: The SBDC helps clients develop a new hire checklist for all new employees, including all required documentation, as well as job descriptions, an employee manual, and a compensation outline. The SBDC will refer the client to any appropriate employee subsidy programs.

Managing Employees: The SBDC mentors clients on creating a strategic, employee plan for their business providing feedback where necessary and assuring the plan includes scheduling, professional development, and team development of employees.

Labor Laws & HR Policies: The SBDC helps clients identify values, leadership style, and employee behaviors desired for his or her business. Based on those criteria, articulated policies and procedures that address labor issues and human resources can be written for the company with  guidance.

Finance

Financial Projections: The SBDC will 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. Depending on the industry, the SBDC can recommend development of either/or short or mid-term projections.

Funding Assessment and Loan Packaging Assistance: The SBDC helps determine the feasibility of accessing various types of private or public financing for the client’s business by analyzing the client’s business financial statements and credit history against lender requirements. The SBDC also helps the client in determining an action plan and timeline for obtaining capital. The SBDC collects lender requirements for clients seeking business loans. Preparation of the client’s business financial statements, loan narratives, and other necessities required by lenders for a loan package are completed with the aid of the SBDC.

Quickbooks: The SBDC develops proper structures in Quickbooks for clear determination of specific financial activities of the client’s business. Upon analysis of the business activity structures, the SBDC can then help create a plan for the improved management of the client’s business financials.

Bookkeeping/Accounting: The SBDC helps the client establish business accounting procedures and standards that ensure proper financial management and legal compliance.
Tax Planning: The SBDC works with the client and his or her needs and objectives to develop a tax strategy that identifies incentives and rebates for the client’s business while complying with regulations. Resources and referral partners are also suggested to the client.