Business Planning Archives

America’s SBDC Blog

A “Forbes 100 Best Websites for Entrepreneurs”

Starting a Food Product Business in 8 Steps

March 14, 2023

Starting a food product business can be an exciting and challenging venture. There are several steps involved in the process, which we will outline below:

Step 1: Develop Your Product Idea

The first step in starting a food product business is to develop your product idea. Consider your strengths, interests, and passions. Conduct market research to determine if there is a demand for your product, and if there is already competition in the market. You can use online resources, such as Google Trends and social media platforms to gather information on market trends, and learn about what customers are looking for in food products. Identify what makes your product unique and why it will appeal to customers.

Want to Achieve Your 2023 Financials Goals? Start Now and Get Your Team Involved.

December 23, 2022

By Lauren Owen

Imagine it’s December 2023 and you are about to stand up and thank your team for a job well done at your annual holiday party. You’re happy because you set and met many strong goals for your business this year, including your profit goals. This year’s profits allowed you to distribute meaningful bonuses to your team and make plans for investments that will help grow your business in the years to come. Yes, there were some challenges, but for once you didn’t feel like it was all on your shoulders. The team really stepped up.

As you reflect on what actions made the difference, a couple of things stand out.

How to Write and Follow a Business Plan: Tips for the First 365 Days

November 17, 2022

By Dustin Ray

Starting up a successful business is no small feat. Many prospective entrepreneurs are daunted by the statistics and the harsh reality that 18.4% of businesses fail within their first 365 days, according to the Bureau of Labor Statistics. It’s bound to be a competitive landscape, no matter what industry you’re in.

Luckily, your first year doesn’t have to be a flop with some careful planning and preparation. Creating and following a business plan, avoiding common pitfalls, taking advantage of resources, and learning from others are all important steps in getting your new business off the ground. This guide is designed to help get you off to a good start.

6 Strategies to Prevent Quiet Quitting from Your Team

October 20, 2022

“Quiet quitting” is the newest buzzword in the business world. While this term evokes mental images of employees leaving their job without saying a word, the reality is much less terrifying. Quiet quitting is when employees stop going above and beyond at their workplace. Quiet quitting is a response to the idea of hustle culture, a form of workplace culture that can lead to severe burnout.

Unfortunately, for many small businesses, the idea of employees doing the bare minimum for their job is unsustainable and can cause stagnant business growth. However, there are plenty of things that you can do to prevent quiet quitting. Things like valuing your employees, clearly communicating work expectations, and offering advancement opportunities can all go a long way toward preventing the “quiet quitting” phenomenon.

Here are 6 Strategies to Prevent Quiet Quitting from Your Team Click To Tweet

5 ways to get funding for your new business

September 20, 2022

By Myranda Mondry

You’ve got it: Your million-dollar business idea. The only problem? You don’t have a million dollars (yet—fingers crossed!). Launching a new business takes passion, courage, and, yeah, capital. If you don’t have at least a small bank of startup money lying around—few of us do—it can be the roadblock that prevents your million-dollar idea from taking off.

Fortunately, new businesses like yours have a few options when it comes to funding and capital. And you don’t have to be well versed in finance to take advantage of them. The following are a few common ways entrepreneurs can fund their big ideas—transforming them into small businesses.

12 3 ›»