How to Use SBDC Small-Business Mentoring to Start or Grow a Business

How to Use SBDC Small-Business Mentoring to Start or Grow a Business

Advising and mentorship at the Oregon Small Business Development Center Network

A business mentor is an experienced and trusted adviser who can provide support and advice when it’s needed. Whether they’re starting or growing your small business, entrepreneurs can benefit from small-business mentoring and can put a small business on the right track toward success.

Luckily, finding an experienced small-business mentor is as simple as connecting with the Oregon Small Business Development Center Network.

Free advising services

Our mission at the Oregon SBDC is to provide expert advice, training, and resources for small-business owners through 20 conveniently located centers throughout Oregon.

One of the many benefits of connecting with your local Small Business Development Center is the free advising services for business owners.

Tap into the insight of our knowledgeable team of advisers, and receive valuable small-business mentoring through this no-cost service.

Advising is confidential and can cover a variety of topics, including:

  • Strategic planning
  • Business support
  • Understanding and analyzing business financials
  • Hiring and scaling your operations
  • Intellectual property concerns

Our advisers understand how to start a small business in Oregon—and how to scale it when you’re ready. They can support you with individualized advice at every stage of your small-business venture.

Starting a company

It’s one thing to have a great business idea and another to actually start a business. Often, first-time entrepreneurs are unsure where to begin.

The Oregon SBDC has several tools available that help to streamline the process of creating and running your business, and one such tool is LivePlan.

This business planning software can simplify:

  • Creating your business plan
  • Budgeting and forecasting
  • Tracking performance

With customizable functions, hundreds of sample plans, and the ability to connect to other accounting software like QuickBooks, LivePlan can help you plan, fund, and grow your business.

As part of our small-business mentoring services, small-business owners can access this valuable software through their adviser.

Growing your business

If your small business is ready for growth, the Oregon SBDC can help guide you through the process of expanding it to the next stage.

GrowthWheel is a visual toolbox for decision-making and action planning for start-ups and small businesses, designed to build your business in a simple, action-oriented process that stays true to the way most entrepreneurs think and work.

It tackles the ongoing challenges that businesses across industries face in each stage of their life cycle and helps to map out business decisions.

The best part? It’s available at no cost to clients who work with our advisers as part of the benefits of small-business mentoring through the SBDC.

Understanding your market

When you work with a small-business mentor at the Oregon SBDC, their expertise in your local area will help you understand the market in which you operate.

For a more in-depth look, the Network’s Market Research Institute provides customized research reports and market intelligence for established businesses that anticipate growth.

Small-business owners will have access to data that will help them:

  • Identify opportunities
  • Better understand the competitive landscape
  • Refine business plans
  • Make smarter, more informed business decisions.

Based on your individual needs and goals, the institute’s market research report will encompass a range of topics and market analyses for a customized marketing plan with no direct cost to you!

Your adviser can help you understand and create a plan around your custom report, from industry trends and statistics to geographic analysis and supply chain information.

Finding and securing financing

When it comes to funding for your business, you want to ensure that any advice you receive is relevant to you and will help you succeed.

The Oregon SBDC’s Capital Access Team (CAT) is made up of specialized advisers located throughout the state who provide expert advice on accessing capital to foster economic growth and resilience.

When you connect with the CAT, you’ll be mentored by experts to help you:

  • Assess readiness for funding to determine next steps
  • Advise on business planning and projections to be “funder-ready”
  • Discuss and advise on different finance strategies
  • Provide financial analysis and feedback as needed
  • Advise on funding package documentation
  • Assist clients with funder relations and connections

The Capital Access Team has helped Oregon businesses successfully access more than $255 million in capital since its founding in 2010.

Small-business mentoring is available at each of our 20 Centers. To learn more about our network and how we can help you start a business or grow your existing small business, visit www.OregonSBDC.org.