Seven Tips to Jump Start Your Small Business

2 min read

| By Gale Staff |

As part of National Small Business Week, the U.S. Small Business Administration (SBA) takes the opportunity to highlight the impact of outstanding entrepreneurs, small business owners, and community members from all 50 states and U.S. territories. Every day, they’re working to grow small businesses, create 21st century jobs, drive innovation and increase America’s global competitiveness.

Be a part of these outstanding statistics by reading below for seven tips on how to jump start your business venture using Gale resources:

Tip #1

  • To start your small business journey, envision a product/service that’s unique and fulfills a need or solves a problem. Gale Small Business Builder is a step-by-step online planning tool for starting, managing and optimizing your business or non-profit.

Tip #2

  • It’s a must to thoroughly research your market, industry, trends and to identify the competition. DemographicsNow provides users with over 17 million company profiles and access to highly detailed U.S. demographic data.

Tip #3

  • Before bringing your business to life, create a business model and test it by determining when the business will be able to cover expenses and turn a profit. Tools such as Lean Canvas, SWOT, Porter’s Five Forces, and more plan the high-level framework in which your business will operate and is featured in Gale Small Business Builder.

Tip #4

  • Sole proprietorship, partnership, or corporation? Research which best suits your needs and move forward to register your business or corporation with Gale LegalForms.

Tip #5

  • Assessing funding opportunities is a vital step in creating your business plan, whether its self-funding, loans, or crowdfunding. Gale Small Business Resource Center is the comprehensive database that includes this information and more.

Tip #6

  • Every business needs a brand identity. Plan your marketing strategy, figure out what sets your business apart and capitalize on it. Gale Small Business Resource Center features the entire Business Plans Handbook series, which contains hundreds of sample business plans created by real-life entrepreneurs. Gale’s new title, Encyclopedia of Major Marketing Strategies, Vol. 4, available on GVRL, covers 100 marketing campaigns by some of the top global brands and high-profile social movements of the last few years.

Tip #7

  • Define the strategies and goals of your business and how you will operate it profitably by implementing your business plan. Gale Small Business Builder’s “Entrepreneurship Profile” feature helps users explore what they can bring to the table as an entrepreneur and assess where they stand in preparing to start a business.

Tell us how your library is commemorating the SBA’s National Small Business Week! Leave a comment below ↓

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