Spring is the season for fresh beginnings. Like any growing thing, the seed of a small business requires nourishment to bloom. Developing a feasible organization calls for strategic attention and tender care. Professionals should prepare for the details that determine the start of a business, as well as its sustainment.
According to Jason Nazar of Forbes, 70 percent of startup small businesses survive at least two years, 50 percent survive at least five years, 33 percent survive at least 10 years and 25 percent survive 15 years or more. Telhio recommends the following steps for bringing your business’ success into blossom.
1. Soil. The saying, “bloom where you’re planted” may not always hold true for growing businesses. If your endeavor is expanding beyond the soil where it started, don’t stunt the growth. Commercial mortgages provide professionals with the resources they need to make the most of an unexpected spurt. Telhio has helpful contacts and informative resources on the matter, available here.
2. Sunlight. Exposure is essential to a business’ success. Employ marketing methods that match your business’ brand and effectively carry its consistent message to the right audience at the right time. The public’s sights should be well set when light is shed upon your pursuit.
3. Timing. Time the reveal and promotion of your product or service with the market to which it matters. Your business is as viable as its environment allows. If you’re ahead of the market’s trends, be strategic about waiting for the right time to take a lead. You wouldn’t plant a flower bed before winter’s last frost and you won’t premiere a product before the public knows they need it.
4. Tools. Gardeners use shovels and hoes, while CEOs use smartphones and social media. Embrace technological advancements to make your business as fruitful as possible. Telhio’s online services and mobile apps allow professionals to keep up with their rapidly budding businesses.
5. Care. Starting a small business is a daunting and complex undertaking. Your professional pursuit should also be your personal passion. Wholehearted love for the business propels a perseverant leader.
For more tips, resources or guidance on navigating small business success, contact a member of Telhio’s business services team online, or give them a call at (614) 221-3233.
Telhio is open to anyone who lives, works, worships or goes to school in Franklin, Fairfield, Delaware, Licking, Marion, Pickaway and Union counties. Founded in 1934, originally as the credit union for the Columbus Telephone Co., Telhio is a not-for-profit financial cooperative where its members are also its owners. Driven by its philosophy that members come first, Telhio is committed to the highest standards of responsibility and conduct. Telhio offers – branching offices throughout central Ohio and nearly 4,000 shared branching locations nationwide. Additionally, Telhio credit union participates in the highest level of combined federal and private share savings insurance available, insuring deposit accounts up to $500,000.*
* Federally insured by NCUA. Additional coverage up to $250,000 provided by Excess Share Insurance Corporation, a licensed insurance company.
