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Growth

Growing your established business? There’s a lot to learn. You can increase your odds of success by doing your research before you get started. The Utah Small Business Development Centers (SBDC) provide information to help you research your idea and plan your next move.

Step 1: Complete the Online Request for Business Consulting

Looking to grow your existing business? Let the Utah Small Business Development Centers (SBDC) help. First, request business consultation , or call your local Small Business Development Center (SBDC). This will start your relationship with a Utah SBDC. Your local SBDC will then contact you and make an appointment for a confidential meeting to see how we can help you.

Step 2: Find Small Business Development Center (SBDC) Network workshops and classes

Want to learn more on specific topics? The Utah SBDC Network provides low-cost and free workshops throughout the year on a variety of business topics. We have local professionals hold small, interactive workshops about social media marketing, cash flow management and more. These classes cover topics essential to accelerating the growth of your business. Not sure where to start or need specific help? Contact your closest SBDC and sit with a consultant to map out a plan.

- Are you looking for documents or links for key resources? Check out our resources page.
- Are you ready to grow but need some money to do it? Try the SBA loan finder or speak with your local SBDC consultant.

Questions to Consider when Preparing to Grow Your Business:

1. Plan to Grow

- Have you written your growth ideas into a business plan or business model canvas?
- How do you want to expand your business — A new market, new products, new pricing, or purchasing a competitor?
- Have you tested your ideas for growth with a pilot project or collaboration?

2. Your Operational Plan

- Do you need additional money to increase capacity?
- Will you need more working capital with the changes?
- Do you need to be more efficient and effective in your production process? What is your plan to accomplish this?
- Do you have the capacity to meet future sales levels?
- Do you need more space or a bigger facility to meet capacity needs?

3. Your Team

- Do you have people with the right skills for growth on your team?
- Do you have a plan for attracting future personnel?
- Have you defined the duties, responsibilities, skill and experience needed for each position?
- How will you effectively, quickly train new people in your workforce?

4. Increasing Your Market

- Is there potential for growth in your market?
- Who is the market you want to reach?
- What is your plan for marketing to your target markets?
- What is your marketing budget?

5. Your Financial Plan

- How much capital will you need for business expansion?
- How will you raise this capital?
- Do you have a business growth plan for investors or lenders to review?
- What are your anticipated sales, profits and cash flow based on your growth plan?

6. Planning for Change

- How will you manage the changes?
- How will the changes affect your company?
- What strategy do you need to employ to manage change?
- What training for existing employees will you need?