Small businesses play a vital role in the economy and the fabric of any community. They are the places where people go to buy their everyday necessities, interact with their neighbors, and support local causes. As a small business owner, you have the opportunity to not only provide goods and services to your community but also to create jobs, foster relationships, and give back. If you’re considering starting a business, the Greater Burlington Partnership shares a few things to keep in mind.
The first step in starting any business is developing a plan. This plan will outline your business goals, strategies, and projections. It will also help you secure funding, find partners, and make informed decisions about your business. When writing your business plan, be sure to address the following sections and questions:
An executive summary: A brief overview of your business that covers the main points of your plan.
A description of your product or service: What need does it fill? Who is your target market?
A marketing plan: How will you reach your target market? What kind of promotions will you run?
A financial plan: How much money do you need to start? How will you make money? What are your projected expenses and profits?
An operational plan: Where will your business be located? Who will be responsible for what tasks? What are your policies and procedures?
Creating a comprehensive business plan will take some time and effort, but it’s worth it. You’ll have a valuable roadmap for the early days of your business and beyond.
Along with your business plan, you’ll have a number of other important documents you’ll need to keep safe and accessible at all times. Having hard copies can be helpful, but be sure your primary storage method is digital. Rather than scan your documents the old-fashioned way with a photocopier, use a scanner app on your phone or tablet to take photos of your business plan, business bank account information, and other docs and instantly upload them to PDFs you can save on your hard drive. This deserves a look when you’re considering which scanning app to download.
In today’s digital world, many tech tools can help you launch and grow your small business. These tools can help with everything from accounting and bookkeeping to marketing and customer relationship management. When choosing tech tools for your business, be sure to consider:
Ease of Use: The last thing you want is to bog yourself down with complicated software. Look for tools that are user-friendly and offer helpful customer support.
Functionality: Make sure the tool can actually do what you need it to do. For example, if you’re looking for an e-commerce platform, confirm that it can handle payments, shipping, taxes, and other essential functions.
Cost: Some tech tools are free or have free trials; others come with a monthly subscription fee.
Consider how much you’re willing to spend on each tool before making a purchase or signing up for a service. With so many options available, there’s no need to break the bank on tech just yet; you can always upgrade later as your business grows.
Social media is a powerful marketing tool for small businesses — and it’s often free or low-cost to use! You can use social media to post about special sales and promotions, share customer testimonials and reviews, or even give out coupons and discount codes. Whatever content you choose to share, make it engaging and visually appealing. And don’t forget to include links back to your website!
Finding office space for your small business can be a daunting task, but assessing your needs and budget, conducting thorough market research, and considering factors such as location, amenities, and lease terms can all help identify the most suitable options and make the search more manageable, ultimately leading to a workspace that meets your business's specific requirements and contributes to its success.
Collaborating with other businesses — particularly those in complementary industries — can help increase visibility for both parties involved. One way to do this is by cross-promoting each other’s products or services on social media or through email marketing campaigns. You can also partner with local organizations for charity events or fundraisers, an excellent way to give back to your community while boosting your brand.
There are many benefits to starting a small business in your local community, including providing valuable goods and services, creating jobs, supporting local causes, and building relationships with customers and neighbors. If you’re thinking about launching a small company, the first step is developing a comprehensive business plan. Be sure to keep it and other important business documents saved as PDFs so you can access them anywhere, any time. Then you can start researching the many tech tools available and devising an effective marketing strategy. You’ll also want to find suitable office space. In no time, your business will be on the track to long-term success in the community!
Join the Greater Burlington Partnership for great resources, events, and connections that will help you build a thriving business!
