It’s about that time, to TAKE your plan 2 to the next LEVEL
- Develop your own funding source. Businesses owned by minority women have more than doubled over the last ten years, still many find it difficult to receive startup funding from banks and private lenders. Partnerships and sponsors are great, but it’s easier to fulfill their requirements if you also have your own sources of funding. Consider asking 10 people in your network for 10% each of the total startup funding needed. Be sure to develop multiple streams of income through diverse products and services, so you don’t put all your eggs in one basket.
- Create a social media plan. When planning for your business, don’t let marketing through social and digital media be an afterthought. This low-cost, high reward form of marketing allows you to capitalize on your audience where they are already otherwise engaged online. Go into each new project or product launch with the plan for online engagement ahead of time for maximum results.
- Engage a younger audience. Even if your business is targeting an older crowd, think ahead to the pipeline of customers you will want to attract in the future. Embrace younger people within your organization to help grow your ideas and include new technologies and thought processes into your future vision. Engaging young people as employees and customers will ensure your business never stops growing and stays competitive for years to come!