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Growing a New Business

Brought to you by Donna Satterlee, Marketing Specialist Community Banking Expert


If you have a new business, the Small Business Development Center provides a list of 5 things you need to do your first year (or two).

(1)  Know yourself. Where do you fit in the marketplace? What unique value do you provide to your customers? What problems are you solving? These questions and more create your brand. Your brand is what will separate you from your competition.

(2)  Focus. Do not overlook the power of the planning process. Break down the year into 30, 60 and 90-day sprints. Define your goals and identify tasks to reach those goals. Work on this plan every single day.

(3)  Get clear on your target market. Narrow down your ideal client so you know where to find them. For example, if your target market is young Portland professionals who attend every Timbers' home games and like whiskey, you know exactly what events, the brand voice that will resonate, and the kind of advertising that will get you the best return on investment (ROI).

(4)  Develop your sales funnel. How do you engage with a potential customer? What do you do to turn them into a paying customer? Don't miss because you were unprepared or the prospect didn't know how to work with you.

(5)  Keep track of your finances. Set up your bookkeeping systems to keep track of your sales and expenses. Not taking the time to do this will cause huge headaches come tax season. More importantly, you need to know where you're spending your money and who your best paying customers are, so you can make better decisions.

 

Call us if we can help you build your business.

PREMIER COMMUNITY BANK

314 E. MAIN STREET

HILLSBORO, OREGON 97123

503.693.7500

HYPERLINK "http://www.pcboregon.com/" www.pcboregon.com