Wenatchee Office located at 238 Olds Station Road, Wenatchee. By appointment call 509-888-7252 or email jim.fletcher@wsbdc.org

Thursday, June 30, 2011

Taking Your Business to the Next Level

By Kathleen Purdy, Olympic Peninsula SBDC 
“How can I evaluate new business opportunities?” “How can I determine whether to sell one of my three businesses?” “How can I better plan for future contingencies?” “Will I be able to sell my business in ten years and afford to retire?” These questions and others like them are ones that small business owners should be  asking themselves. As often happens, we become complacent when all is going well. We can breathe--and even take a vacation! However, businesses often take on a life of their own and may be headed down a path that is different from what the owner envisions. The owner just hasn’t told the business of his or her vision. Taking your business to the next level is that type of planning. It asks: “Where is my business going? Where do I want it to go? How can I get there?”

8 Ways to Increase Your Cash Flow in a Cash-Crunched Economy

by Kirk Davis, Green River SBDC

Every day I hear about cash flow problems from business owners. In this economy, most of us are having cash flow concerns. I am hearing that sales of most small retail businesses are down 10% to 20% from
last year. If you don’t understand the different ways to increase your cash flow, you can get stuck thinking you have no options. If you are having cash flow concerns, chances are it is difficult for you to get a loan  from the bank.

Wednesday, June 22, 2011

Can You Increase Sales by Exporting?

The Washington Small Business Development Center Export Program focuses on working with new-to-export and new-to-market companies with little or no expertise in international trade. The program has set an ambitious goal of establishing a “Culture of Exporting” across the state within the next two years.

Join the Online Revolution -- Engage in Radical Self-Promotion

By Kirk Davis, Green River SBDC

The Goal of Social Media is to Increase Sales. Really?

Social media provides the tools that enable us to have online conversations. I know, the big advice out there today about social media is don’t try to sell anything to anyone. The idea of social media is to be part of the conversation to build relationships over time. Of course, our goal in business is to sell more stuff to more people.

The new revolution in business is social media marketing. If done right, it can be your key to radically improving sales. The question is how do you increase sales by using social media? Sun Tzu in the Art of War explains that strategy is determined by the terrain. Here is an overview of the social media terrain.

Revisiting Your Credit Strategy

By Susan Hoosier, Longview SBDC

Monitoring and understanding your cash flow is probably one of the most critical aspects of business management. Cash flow has always been important to businesses, but many business owners have recently been reminded of this in a very unpleasant fashion; i.e. the cancellation or reduction of a vital credit line.

Business owners typically concentrate their efforts on year-end tax planning and strategizing for increased sales in the coming year. It is rare, in the planning process, to see businesses pay equal attention to planning for cash flow by reviewing the business’ credit strategy (the way that bills are paid and the way in which you receive payments for goods and services that are sold).

The ABCs of Profitability

By Jennifer Shelton with the Bellingham SBDC.

As a business owner or future entrepreneur, I believe it’s never too early to start thinking about how to make and keep your business profitable. In simple terms, profitability is the amount of sales revenue left over after business costs. Learning to measure profits helps to answer the question, “Are we making enough or going to make enough money for our efforts?”

Five Keys to Building a Strong Business

By Janet A. Harte, with the Vancouver, WA SBDC

One thing all business owners have in common  is their desire to build a strong business. A strong business is one that can withstand the ups an downs of an economic cycle; it can replenish itself through profits; it’s agile, flexible, and communicates well; and it can support the owner’s lifestyle. A strong business is based on a true business opportunity and a sound business model. While a business opportunity is shaped by the market environment; a business model is the shaped by the owner.