The entrepreneurial dream is to bring innovative ideas to the marketplace that solve an unresolved problem or fill an unmet need. Research shows that most new business ventures are dreams being lived out without a sufficient business plan and the undergirding of professional advisors.
Practical Application of Business Resources
Over the last decade, Table SALT Group associates have studied this common issue and explored practical solutions. The result is a framework known as the Business Quad Squad, a comprehensive professional advisory suite, to help business startups build a solid foundation for sustainability and profitability.
Tips for a Strong Business Foundation
Every startup budget should allocate funds for consulting services in marketing, finance, accounting, and law. The marketing strategy will determine the viability of a customer base and create targeted, attractive advertising. An existing banking relationship provides expertise on the financial products that best support a particular small business’s cash management. Accounting and legal advice are invaluable in tax planning, asset protection, and regulatory compliance. It is best to have a team working in those areas for you so that you can focus on delivering a superior product or service on time.
Get Ahead of the Competition with a Mentor
The breadth and depth in the intricacies of management that can only be gained in practice take time. For an inexperienced proprietor, the availability of mentors to advise on the unwritten rules of business success is priceless. Our boutique approach to mentorship, team building, and programming originate from working with hundreds of small business owners to help them build viable businesses – formulating business plans, sourcing capital, and building rewarding relationships. We have found an emphasis on leadership growth, getting out of the weeds to focus on the vision and developing a team that will help launch that vision is not only essential, but affordable.
Put Sound Business Practices in Place Early
For all practical purposes, specifically loan applications, contract proposals, and structuring new deals (just to name a few ) there is no better way for business leaders to get prepared and build a solid foundation than to know how to put into practice a successful Business Quad Squad. Lenders, agencies, and potential clients have more confidence in a partner that can show fiscal responsibility and the ability to build sustainable relationships. Taking this first step will improve the longevity and success of business exponentially.
DIY is Easy with the Right Business Resources
Explore our recommended list of essential tools to help you do it yourself and apply these best practices. Consulting with our expert staff to answer your questions can also help you develop a tailored plan.