Resources
Summer 2010
July 15, 2010
So, You Want a Loan?
At some point, most small businesses will need to secure a loan in order to grow. In tough times that can be a difficult challenge. However, the better prepared you are, the better your chance of success. Put yourself in your banker’s shoes. Three of the first questions in your banker’s mind are:
Old or New School, Quality Counts or, “It’s the Product, Stupid”
Can a company survive today without engaging in social media, without posting, tweeting, and otherwise dipping into the live media stream? Apparently, yes! In a recent blog, Jonathan Weber* noted that despite Apple’s “old school” approach to marketing (Apple spends on slick magazine ads and TV and they don’t blog, tweet, or do much with Facebook) they have had a major impact and smashing success in the computer, mobile phone, and music industries. Why?
One Small Change Can Yield Big Dividends
We sometimes take a slash and burn, all or nothing approach to change. However, great results also stem from one small change. When faced with a large problem, or several problems, managers can be tempted to think that changing everything will fix everything. They believe sales will rise if only they fire the entire staff, completely change the product line, and/or outsource a department. Dramatic changes often divert focus from normal business goals to implementation of the change and working out its attendant issues.
Where’s the Beef?
Need a loan? You will need a solid business plan to help you to secure a loan, so make sure yours is well-written. The size of a business plan will vary according to the nature and scope of your business, but here are some basic requirements. A well-written, compelling informational section with:
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