Office of Business Development. City of Boston

Transcription

1 Office of Business Development City of Boston

2 Key Questions for Business Assistance What is your dream for your business? What do you have now that can help you achieve that dream? What do you need to achieve that dream? What are the 3 strengths of your business? What are 3 areas that you would like to improve?

3 Key Questions for Business Assistance What are your concerns? (What keeps you up at night?) Financial concerns? Cost of operating your business? Protecting your business legally? Safety? Encouraging customers to come back more frequently? Improving the overall operations of your business?

4 Programs to Address Holistic Needs of Business Owners Needs assessment to determine root needs of businesses, and best services/referrals. Boston Main Streets On-Site Business Assistance Women on Main Partners with Non-Profits Zoning and Permitting Storefront Improvement Projects Energy Efficiency Programs

5 On-Site Business Assistance Pipeline of services to address different stages and needs of businesses. Designed for businesses at critical decisionmaking point: Existing businesses Business owners committed to investing financial and human resources to improve the business. Services: Financial coaching Marketing consulting Legal consulting Business coaching In-depth business operations consulting

6 On-Site Business Assistance Over past two years, we have served 60+ businesses. Those that received in-depth business operations consulting: Increased revenue by an average of 50% in the 6 months following the assistance and created average of 2 new jobs in the 6 months following the assistance. Reported an increase in ability to manage and grow their business. Businesses that received marketing/customer experience assistance: Increased their ability to attract and retain customers Reported an increase in self-confidence as a small business owner. Reported an increase in foot traffic On-Site Business Assistance is the launching pad for many businesses

7 Description of Services: I work with food-focused businesses to help them achieve and maintain financial sustainability. By starting with the numbers, I help businesses understand the financial impact of their operations so they can maximize profits. I help entrepreneurs articulate their business strategy so they can obtain growth-financing

8 We Work With: Restaurants, Cafés, Food Trucks, Farms, Food Producers Case Study: A bakery-client approached us because she wasn t profitable but didn t know why. We set her up in QuickBooks and trained her to effectively use the program so that she could extract useful information about her business We created a recipe costing tool so that she could so if she was pricing her products correctly

9 Julia Shanks Food Consulting Key Lesson Learned: With proper bookkeeping, the business understood where the expense were too high, and could make adjustments. After analyzing the food costs, she was able to adjust her pricing effectively.

10 Retail Visioning We help improve the look and feel of a tired or let go retail business by working on interior design, signage, visual merchandising, print & on-line communications We refresh EVERYTHING including the attitude of the business owner!

11 Retail Visioning We can best help storefront small businesses that want to put in the work to attract more customers and more $$$. New or experienced business owners who are willing to learn a new interior design trick, try out a new marketing tip, step outside their comfort zone be open to making a change for the better.

12 Retail Visioning Case Study: Maria s Hair Salon, Hyde Park Reduced footprint. Refreshed paint / color Added communication tools Re-engaged Maria s confidence. Outcome: Confident. Happy. Looking good. Added stylist. More $. Curtain wall, fresh paint, wall sconces, holiday decorations, loyalty cards, business cards, move reception desk, repair / handyman services, purchased 4 th styling table. LOTS OF COMPLIMENTS & ENCOURAGEMENT.

13 Retail Visioning Key lesson learned: Quitting is not an option. Not for Maria. Not for Emily. Not for Retail Visioning. When the paint chips are down try, try again. Helping her take that first step - painting - put her on a path to renewed confidence; action and achievement.

14 Good Egg Marketing Description of Services: Technology/Marketing Consulting Online marketing (websites, social media, marketing, ecommerce) Loyalty programs, customer relationship management Business Coaching Assist with business analysis Develop implementation strategy Provide ongoing coaching and support for implementation

15 Good Egg Marketing Business Types and Business Needs that are the Best Fit Food-related enterprises, retail, B2B. Businesses seeking to increase sales, build customer loyalty, develop marketing systems.

16 Good Egg Marketing and Ula Cafe Case Study: Increase sales Analyzed sales, customer service, web, , & social media; recommended actions and how to monitor; assessed quarterly. Sales increased 6.3%; social media engagement increased. Key Lesson Learned: Pinpointing specific challenges and testing/ measuring solutions aids decision-making for your business.

17 DAILY GENERAL COUNSEL LEGAL ADVICE & SOLUTIONS FOR SMALL BUSINESSES HOW: CONSULT, COUNSEL, EDUCATE & EMPOWER BUSINESS OWNERS; RESOLVE LEGAL ISSUES & DRAFT LEGAL DOCUMENTS WHO: ALL SMALL BUSINESSES - PRODUCT, SERVICES, RETAIL, DISTRIBUTOR, LIGHT INDUSTRIAL WHAT: BUSINESS FORMATIONS, CONTRACTS, LEASES & LOANS, EMPLOYEE ISSUES & MANUALS, VENDOR & CUSTOMER PROBLEMS, DISPUTES/LAWYER LETTERS, COLLECTIONS, NEGOTIATION STRATEGIES, & MORE

18 DAILY GENERAL COUNSEL CASE STUDY: BAKERY/CATERER EXCESSIVE OVERTIME BY STAFF & WAGE & HOUR VIOLATIONS; VENDOR MONEY DISPUTE CREATED HR POLICY FOR OVERTIME, REDUCED PAYROLL, CORRECTED VIOLATIONS, VENDOR DISPUTE SETTLED PAYING 50% WITH 2-YEAR PAYMENT PLAN OWNER LEARNED HOW TO CONTROL STAFF WORK HOURS, BE IN COMPLIANCE WITH LABOR LAWS, & HOW TO SOLVE COLLECTION PROBLEMS

19 DAILY GENERAL COUNSEL CASE STUDY: BAKERY/CATERER KEY LESSON LEARNED SMALL BUSINESS OWNERS NEED NOT GO IT ALONE. WHEN THEY INVEST THEIR TIME TO WORK WITH PROFESSIONALS, THEY BECOME SMARTER BUSINESS OWNERS WHO GROW THEIR BUSINESSES FASTER, BECOME MORE PROFITABLE & REACH GREATER SUCCESS.

20 innerovation Coaching by James Lopata MTS, ACC & Jeb Bates MSOD, PCC Boston Business Booster program (B3) Six Months to a Vibrant Valuable Business - for - Established Businesses who want to move to the next level and/or are worried about how to fix deeper problems New Businesses who want an experienced partner to get their game plan together for growth and success

21 innerovation Coaching by James Lopata, MTS, ACC & Jeb Bates, MSOD, PCC Training For Warriors, Boston Problem Stalled sales Real problem Unaligned team Key Lesson Getting to the real solution begins with knowing the real problem Solution Surprising insight Effective strategy Clear action Follow-up Outcome 400% rev increase well oiled machine Watch the video:

22 GNEMSDC Executive Coaching: One-on-one training and coaching covering all business issues, leadership, finance, marketing, operations and human resources Development of a work plan and follow up visits to implement plan. Financial Coaching: Analysis of financial statement Training of business owner in pertinent financial issues Create a customize financial management system and train owner

23 GNEMSDC Business Types Retail, grocery stores, service, distribution, restaurant and contractors Inventory: Cash Flow Problem Analysis of root of problem Improved purchasing and cash flow

24 GNEMSDC Key Lesson Learned: Business owns the solution to the problem

25 International Institute of New England Overall Business Development Support Financial Management Marketing Customer Service Support Business Types & Needs Micro to small businesses Businesses that are looking to: Strengthen bookkeeping strategy Create and implement new marketing strategy Market their product & Services Retain existing customers & recruit new customers

26 International Institute of New England Needs of the business Recruit new customers Retain existing customers Explore customer satisfaction Ultimate goal to open an antique shop Services provided Strategy focused on improving online presence, analyzing customer feedback, traditional marketing and identify additional channels to sell products, Inventory management

27 International Institute of New England Outcome Improved sales/ Customer retention Plan to open a store in the summer Key Lesson Learned: Analyze customer satisfaction and Interact with your customer on a regular basis

28 Main Street Partners Description of Services: Customized assistance provided by top professionals in their respective fields Common focus areas include: marketing, social media, website design, pricing strategy, HR processes, business system implementation, inventory management, bookkeeping, growth strategy development Business Types and Business Needs that are the Best Fit for your Services Storefront businesses that have been in operation for at least 6 months Owners must be willing and able to work with our teams to implement changes to grow and improve their businesses!

29 Case Study: Main Street Partners Situation: Relatively new business that needed assistance putting systems in place to structure their business for growth Key focus areas included: Inventory management, bookkeeping, online presence, marketing, growth strategy Outcomes: Researched various systems and implemented bookkeeping, POS, and business management systems; optimized Google searchability for newly launched website; developed various marketing materials, suggestions to grow marketing, and a plan for non-digital marketing; developed partnership strategy to target relevant local businesses as potential partners

30 Main Street Partners Key Lesson Learned: Keep track of your goals! Know what you want to achieve in the short, medium, and long term. Continue to track what works and what doesn t when trying to achieve these goals. Review your notes and reprioritize frequently!

31 Assistance Process Main Street Directors, board members, volunteers speak with business owners about their dreams, needs, opportunities. The Main Street contact invites their Neighborhood Business Manager (NBM) to meet with the business owner to do a comprehensive needs assessment. The Main Street contact and NBM discuss best programs and services to meet needs. The NBM works with the Office of Business Development team to match the business with services. If the business is good fit for On-Site Business Assistance, OBD team matches contractor to business based on needs. The assistance is provided over a period of up to 6 months, with 6 months of follow-up. The Main Street organization plays KEY role in supporting business throughout this process to ensure success!

32 Next Steps! Think of the conversations you ve had with business owners over the past several months. What are their goals? Concerns? Speak with them about their goals for 2015 and what they need to achieve these goals. Then, talk with your Neighborhood Business Manager to set up a visit with the business owner to talk about ways to assist them!

33 Questions?