Desert Ridge Nieghborhood NAWBO is BACK!

Don’t miss the kick off of a new Neighborhood NAWBO at Desert Ridge. Actually it is “re-opening under New Management”. Victoria Trafton and Cathy Lafee are hosting this lunch on the first Thursday of every month starting March 5. This is one more way to deepen relationships with NAWBO members AND build a referral business foundation!

Bring a friend that you would like to introduce to NAWBO and join us for this first meeting. You can count on a fun exercise that will build relationships faster than you would have thought! You might just meet someone who will change your life!

Desert Ridge

Desert Ridge

Date: March 5, 2015
Time: 11:30 – 1 PM
Location: Mimi’s at Desert Ridge
Questions? Contact
Victoria Trafton 
And
Catherine Lafee
Clafee@wradvisors.com

Do You Need Money To Grow Your Business?

Last year the Maricopa Small Business Development Center helped Arizona small business owners secure $6.3 Million Dollars in loans to help them grow their business. Most growing businesses need to secure additional funds to ensure cash flow.  Whether you need the funds currently or in the future, it is important that as a business owner you understand the process of securing funds so you and your business are prepared.

There are some basic requirements that all lenders have including a written Business Plan or Executive Summary about your business. What they really need is a story about your business and where it is now and where you want it to go if you had the money.

Your business plan will include a complete commentary on your business, including topics such as your marketing plan, competition, pricing, operational plan, financial plan, and more.

There are two key components for you to focus on…first is the marketing plan. Who are your customers? How are you going to get them to buy your products or services? What is your unique value proposition that differentiates you from your competition?

Secondly, a financial projection that looks into the future and provides a budget, a financial model, of what your business will look like, assuming you do get the money you need! You need to think of how your revenue will grow, what costs might increase, and how much cash you will need as working capital as your business continues to grow.

Sounds like a big task? It is, so prepare these documents now and keep them updated on a regular basis.

Also, there is assistance available at no costs from experienced SBDC counselors to help you through the process. The SBDC will assist in writing your Business Plan/Executive Summary, and your financial projections. SBDC counselors know what the lenders need and want, and have experience in successfully finding money to help small businesses grow. And, all these services are at no cost to you!

There is money available for your business!!! Whether you need the funds now, or you want to make sure your business is prepared for the future, keeping your business plan and financial projects up to date is an excellent business practice.

Written by:

Norcross

 

Cope Norcross

Acting Maricopa SBDC Center Director and NAWBO Community Partner

To make an appointment to meet with a counselor, just go to this website (http://maricopa-sbdc.com/) or call 480-784-0590.