Business Resources Library

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6 Signs You're Ready to Open a Second Location

For owners of brick-and-mortar businesses, deciding when to open a second location is one of the most critical strategic questions that you’ll face: Open too soon and you risk overextending your resources. Wait too long and you could lose invaluable momentum and competitive advantages. How do you know when it’s time? We’ve put together this list of essential indicators to help you decide. You’re likely ready to open a second location when: 1. You have more [...]

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Beyond Salary: 5 Small Business Strategies for Retaining Employees on a Budget

Most employers think about long-term strategies like raising wages, paying for health benefits, or subsidizing a 401k when it comes to improving employee retention rates. While these are effective, there are other strategies that business owners can take on in the short-term to retain qualified workers. In this article, Pacific Community Ventures shares five low-cost strategies you can take to distinguish your business and improve retention rates without breaking the bank. 1. Offer Stable But [...]

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How to Grow Your Service-Based Small Business

While businesses with tangible outputs can simply produce and sell more products, it’s often more difficult for entrepreneurs in service-based businesses to envision ways to increase revenues, particularly if they typically offer their services on a per-hour or per-project basis. Excelsior Growth Fund spoke with Deb Boulanger, EGF Consulting Corps member and founder of The Great Do-Over and The Launch Lab for Women Entrepreneurs, a 12-week virtual business accelerator. Deb teaches [...]

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Online Business Apps

Even if your business is on a tight budget, there are numerous free, web-based resources available to help you stay organized, streamline communications, and optimize your online presence.  To help you navigate the seemingly endless sea of online business resources, we’ve compiled a list of five applications that can help your company achieve its goals without breaking the bank. 1. Project & Task Management Trello: Trello is an easy-to-use project and task management [...]

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What lenders want to see in your business plan

As a small business lender, Excelsior Growth Fund has “insider” knowledge about what lenders really look for in business plans. Ensuring that your plan includes the key points outlined in this article will help lenders better understand your business and your funding needs. Every business needs a plan. While they’re critical during the startup phase, they’re just as essential during growth periods to keep leadership focused. Down the road, your business plan can provide [...]

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