The Kansas Small Business Development Center has a variety of resources to assist you with starting up your business, as well as helping you better set goals and KPIs for your business. While easy to get caught up in the day to day demands of your business, the need to take a breath and see where your business is at in the marketplace is critical for long-term success.
Startups: When you meet with your advisor, they will listen openly to your concerns and discuss your financial challenges, goals, and expectations in a judgment-free environment.
Business Plan & Financial Projections: Your Kansas SBDC Advisor can help you create/update your Business Plan & Financial Projections given where your business is currently situated vs where you would like to see it grow.
Industry Comparisons: Your Kansas SBDC Advisor has access to tools to help you see where your performance compares to others in your industry. The value of this can help you discover where to examine for cost savings as well as where to invest for greater profit opportunities.
Understanding Financial Statements: This doesn't have to be a headache. We help you understand the raw materials from which your financial statements (P&L, Balance Sheet, CashFlow) are constructed, including invoices, deposits, accounts receivable and accounts payable, and much more. We help you make sense of the numbers that allow you to keep your business's financial health in check.
Data Analytics Benchmarking and Key Performance Indicators (KPIs): Identifying your KPIs allows you to key in on financial information and metrics that are important to your business. These could include customer satisfaction, sales calls, and weekly revenue. The Kansas SBDC can work with you on setting your KPIs and how to measure and track them to ensure better decision making.
Putting the Numbers to use with Key Performance Indicators (KPI’s): You are tracking all this info about your business, but are you using those numbers to help you operate better? Many times the answer is no, let your Kansas SBDC Advisor help you use those numbers for Projecting/Budgeting and Goal Setting for your business to help lessen some of the “negative surprises” that can occur when running a business.
Learn more about how the SBDC can help you by visiting our website www.kansassbdc.net.
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