Small businesses that experience success and growth need to abandon the mantra of doing it all. But far to often, they take on ancillary activities that distract from the core strengths that made them successful. They find themselves mired in back office processes and either work 16 hour days or the business start to slip. Success is a great thing, it is after all the point of our business, but success is a very poor teacher. “I’m a Doctor for goodness sake, I should be able to run my business!” Replace Doctor with any other profession and you have the mindset that get many business owners in trouble. My advice is stick to your core strengths and outsource the rest. If you want faster expansion for your growing business, click here to learn more about Asset Finance companies..
Don’t get nervous, you don’t have to abandon your patriotism or defy your union brothers. What I’m talking about is hiring business specialists to perform the tasks that they are specially trained in and you are not. These can and should be local businesses many of which are also small businesses. Why have a receptionist turned bookkeeper doing the CFO job when you can hire a CFO on-demand for the two weeks per year that you need them. Your bookkeeper and bottom line will thank you. Financial, Marketing, Human Resources, Employee Training and even Sales are areas that can and should be outsourced. The main benefit for small business owners is the ability to focus on the core business. The cost of being distracted (sleepless nights, missed deadlines and limited resources) is enough to make the difference in profit and loss. So now,
get more sleep, make more money and outsource everything that is not your core business.
Access to capital is one of the key fundamental needs for a business to thrive and grow. Capital can give business longevity. We discussed this in a previous post regarding cash flow in your business.
We know it’s important. We desperately seek it. The trouble comes in sorting through all the junk on the interwebs to get to the helpful information. Outside of factoring invoices, guaranteed loan scams, faxed “we get you cash” pages, when the bank says no, where do small business owners and entrepreneurs turn to for capital? Learn more about business handling by checking this checkstub generator review.
Fortunately there are a number of organizations in Michigan dedicated to assisting business owners in securing capital for their business. We’ll get to that shortly. Before you consider going after capital have you put together a solid business plan for your business? You’ll need it, while if you already have a business and you’re producing company voluntary arrangements but is rejected there are resources that help with this at https://business-insolvency-company.co.uk/what-happens-if-my-cva-is-rejected/.
If you’re an existing business putting together a business plan for the first time, Talan can help you identify areas within your business that need shoring up through our BIZ Strength profile, and it’s FREE.
Back to the previously scheduled blog post….
Besides your friends and family there are some amazing resources for finding capital in the state of Michigan. Listed in no particular order:
In Macomb County, their staff offers up options to legitimate financing alternatives if a bank doesn’t work.
The Michigan Economic Development Corporation has access to state funds, federal funds, as well as many other alternatives for your business
The objective of the Alliance is to encourage entrepreneurship and assist small business owners throughout Livingston County by providing FREE or low-cost assistance.
Yes. You can get grants for your Michigan business. You however need to do the research. Isn’t it nice to learn something new?
Livingston County offers a Commercial Revolving Loan Program through the GLCEDC.
Sometimes you need an angel to come along. If your business idea is good enough this may be the route to go.
At Talan we believe in helping you find success in your business. We are passionate about small business and the people who run them. If you ever find your self in need of assistance, please don’t hesitate to reach out. While the list gets you started, it is not a comprehensive list. We like to be interactive…so if you happen to know of other creative financing options (legitimate), add them to the comment section.
Until next time.
As you prepare to launch your Michigan business, be sure you’ve done your due diligence. While it’s still pretty simple to start a business in Michigan there are a few guidelines you need to follow.
One step of particular importance is determining if your business requires any type of license or permit to do business in the state of Michigan, and if you need to organize an office to work, the use of sliding walls can be a great option and you can get them from sites such as https://www.movablepartitionwalls.co.uk/sliding.
Not having a license in place can be serious problem, especially if you’ve already been doing business for some time. Not doing your homework early on, can lead to massive headaches down the road and possibly a fine or closure of your business.
You’ll need a license if you fall in the following categories:
- Occupational (see full list below)
- Real Estate
- Retail Fuel
Not every business in Michigan requires a license. If your business isn’t in the above list and you’d like to double check, Michigan offers an alphabetical list of required licenses by occupation.
If you require assistance getting the most out of your business, contact us at TalanSBS. We believe in the power of the entrepreneur.
- Veterinarian Exams
- Inspector – Information
- Plumbing – Information
- Plumbing – Forms
- Architects – Information
- Barbers – Information
- Cosmetology – Information
- Forester – Information
- Hearing Aid Dealer – Information
- Landscape Architect – Information
- Morticians – Information
- Nursing Home Administrators – Information
- Ocularist – Information
- Engineer, Professional – Information
- Polygraph Examiner – Information
- Police Officer Licensing – Information
- Certified Disadvantaged Business Enterprise
- Commercial Driver Licenses
- Notary Public – Information
- Chauffeur License – Information
- Commercial Services License Look-up
Your website is your calling card on the web. For that reason it’s important that you take care in how you present yourself.
If any of these apply to you, do not pass go, and immediately head to Google to find the nearest web developer/designer.
1. About Us
If your About Us page is all about you and your accomplishments it’s time for a redo. Focus on what is about your business that will connect with a potential client. Why should they do business with you.
2. Latest News isn’t New
It’s amazing how many websites have a Latest News section that hasn’t been updated in several years. If you don’t care enough about your website to update it on a regular basis, what does it say about how you’ll treat your clients?
3. Outdated Homepage
The web changes frequently and is fickel. Styles change. Bell bottoms and eight tracks have long been out of style. The same goes for your website. If you’re site is still in it’s original format, it’s time for a refresh. We know quite a bit more about how people navigate websites. An update will go a long way to increasing conversions.
4. Bright Fluorescent Colors
When was the last time you visited your website yourself? Bright colors hurt the eyes and makes it hard to read.
5. Auto Start Video/Audio
Stop this immediately. Nothing is worse than visiting a website with your volume full bore, only to be blasted with elevator music from 1983. Certainly you want your video played, but let the content speak for itself. If the video is worth watching it will be seen.
6. Ditch the old Flash
Early flash sites had a lot of sound included when clicking on links and navigating to new pages. Don’t force visitors to have to mute things to navigate your website. It’s easier to just not come back.
7. Poor Navigation
Where do you want us to go? Do you have 15 different tabs? Have you tried to stuff the kitchen sink on the homepage? Make it simple. Set up your website so it’s easy for visitors to find information.
8. Designed for You
Remember this statement. “Your website is not for your current customers, it’s for prospective customers.” Your website is all about converting visitors into customers. Focus on creating content that speaks to those seeking to do business with you. Understand how they consume information and what drives their buying decisions. If the amount of people coming to your website are seeking you out by name you need to better content or SEO (search engine optimization)
A website is key to your digital marketing strategy. With the tools available today there is no excuse for having a poor online presense. If your a do-it-yourself type WordPress or Joomla both make for great content management systems. They both offer tons of plug-ins and themes to make your site look professional and polished.
If you need assistance TalanSBS can help get you started today.
What are a few of your website pet peeves?