Want to boost the longevity of your startup or small business?
The region offers plenty of resources to help keep your business in business, local experts say.
“Economic Alliance Snohomish County is a great place for business owners to learn more about what is available within the county,” said Cate Taylor, the alliance’s small business liaison.
The nonprofit serves as a combined economic development organization and countywide chamber of commerce, offering help at every step to entrepreneurs — from launching a business to bringing an idea or product to market. The group offers one-on-one mentoring, as well as help finding and procuring funding.
A small Business Resource Guide offers information for getting help with launching a business, government markets, business growth, market research and business development, Taylor said.
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Taylor, a small-business owner for 15 years, uses the acronym TRIM to describe the four questions all business owners should ask when making a company decision: Time: Do I have enough time to make an informed decision?
Resources: Do I have the resources to make the decision?
Information: Do I have enough information to make the decision?
Money: What will it cost or make?
Small businesses have some unique advantages, said Diane Kamionka, interim executive director of the Northwest Innovation Resource Center. The nonprofit helps entrepreneurs and inventors in Northwest Washington bring ideas to life by helping with strategies, funding and other resources.
One of the biggest advantages of a small business is the ability to innovate quickly.
“They don’t have the lengthy processes that many big businesses have to try out new ideas, so they can test innovations rapidly with their customers,” Kamionka said.
That means involving customers in decisions about new products or services, she said. Doing so builds a strong brand and encourages customers to share their experiences with others.
Interacting with customers in new ways can help small businesses keep their customers when big businesses try to draw them away.
Another advantage: Small businesses are often in a better position to introduce new products or innovations that serve niche or micro-niche markets.
That’s “something bigger businesses have a harder time focusing on when they don’t produce revenue levels in the millions of dollars,” Kamionka said. “Small businesses can benefit from the smaller more focused revenue streams niche markets produce.”
Other Business Resources:
Janice Podsada: jpodsada@heraldnet.com; 425-339-3097
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