Does networking make you feel nervous? Put yourself in the mindset of a host to feel at ease! Ask others how they’re enjoying the event, why they came out, what they’ve learned…. you’ll be amazed at the confidence you feel and the natural conversations that flow!
Contributing equity shows that you are personally vested in your business. Lack of personal equity is a red flag for lenders, who want to see that potential clients believe in their venture and are willing to invest their own personal finances to help the success of their business. If you’re lacking personal funds to invest into your business, consider MBO’s Impact loan program. As a government-backed loan, Impact is considered personal equity when other lenders evaluate your business for financing.
Step back from the sales pitch! Build your social media audience with valuable content – entertaining posts, educational tips, and interesting information. Keep it on brand and appealing to your audience by making sure your content aligns with your business vision. However, make sure to include a Call to Action so your content can convert your followers into customers!
When preparing to enter the market with a new product or service, you must take note of the evolving opportunities and threats that can arise. By completing a SWOT analysis as part of your business plan, you can relate these external opportunities and threats to your businesses’ own strengths and weaknesses. Completing this exercise can help you determine the best time to enter the market, or even help evaluate the attractiveness of a particular market.
A powerful tool to use while developing your business plan is a SWOT Analysis. Short for Strengths, Weaknesses, Opportunities and Threats, conducting a SWOT analysis forces you to examine internal factors – strengths and weaknesses – and identify external factors that could affect your business– opportunities and threats. From this exercise, you can uncover unique opportunities due to your strengths, and address your weaknesses to mitigate external threats.
A SWOT analysis most often examines overall business strategy. However, it can also focus on a particular aspect of your business: human resources, brand image, marketing activities, competition, new markets, product, industry, and more.