On that magical day when you first open your own business, you look into the future with nothing but hope and sky-high dreams for success. Starting something from nothing is a huge accomplishment, and you definitely deserve to bask in the glow of the honeymoon period. As time moves on, you may start to question your strategy and worry about how you’ll make it through your first few years. It’s important to learn how to ask for help. Here are some tips on how to find support for your small business.
Explore Your Financing Options
One of the biggest obstacles you’ll face as you run your own business is money, and that’s why it’s crucial to explore your financing options early and often. Whether you need a small bump to support your cash flow after the holiday season or you want a large influx of capital to expand to a better location, there are a wide variety of small business loans you can apply for.
If and when you decide to take a loan for your business, don’t take it as a loss. It can take more than two years for your business to reach sustainability and more to see healthy growth and profits. Keep this perspective in mind as you research the different types of loans that you can apply for.
Join Your Local Chamber of Commerce
There’s one resource for your business you should take advantage of very early on, and that’s your local chamber of commerce. These city entities exist specifically to connect and support small businesses and promote healthy business growth in your area.
Once you pay the minimal yearly fee, you will have access to services, events, and resources that your local chamber offers. You can also display your official chamber of commerce stamp, which can help your business appeal to consumers and customers who like supporting local entrepreneurs.
Connect with the Small Business Administration
All across the country, there are local chapters of the Small Business Administration (SBA), and they can help you connect with seasoned veterans in your industry as well as provide counseling on how to run your business. The SBA exists to help small businesses succeed, so it’s a great place to find support as you move through the various stages of opening and running a business.
Attend Industry Conferences
Once you feel confident about your services, products, and business model, you should consider attending conferences and expos related to your industry. Every year there are thousands of business conferences held across the country and around the world. Some of the reasons to attend include:
- Networking with your peers
- Learning from industry leaders
- Discovering new vendors
- Understanding industry trends
- Finding new technology
- Securing business partnerships
Participate in Local and Regional Fairs and Events
While you’re adding a few conferences to your yearly calendar, make sure to include a schedule for participating in your local and regional community by joining fairs, expos, and events. From your weekly farmer’s market to seasonal and holiday fairs, these events can help you network with other local businesses and provide exposure to an important customer base, namely, the people in your area.
Develop an Online Community
You may find that the opportunities to grow your physical profile in your local area aren’t as satisfying as you’d like, and that’s when you can turn to the digital space to develop a community. One way to do this is by interacting with other small businesses online and supporting each other on social media.
Your online community should consist of a majority of followers who are your customers, clients, and supporters. Reaching the right sector and audience with your services and products is often challenging and takes a lot of time, but it’s worth the resources. You may consider hiring a social media manager who can focus solely on developing genuine and helpful content for your online following.
With any new venture, there are bound to be bumps in the road. Don’t get disheartened by the first few obstacles you come across. Lean into your resources and community to find the support you need for your small business. Success doesn’t come easily, it takes determination, grit, and the help of the community around you.