Small Business Marketing Strategies for Oregon Businesses

Small Business Marketing Strategies for Oregon Businesses

Small business owners often don’t have big marketing budgets to work with, which can make promoting products or services a challenge. The good news is that there are many ways to market your company that cost little or nothing but can still significantly impact your bottom line.

Below are our top small business marketing strategies.

1. Set Up a Google My Business Listing

Having a Google Business profile is one of the most effective and free marketing strategies available for local businesses. This allows your business to show up on Google Maps, the local section of Google Search, and the right-side Knowledge Panel for branded searches. 

For your business profile to show up higher on Google Maps or local results, you’ll need to optimize it by claiming verified ownership—which can be done through your Google My Business account.

With a Google My Business profile, you can share details and photos of your business, including its location, contact information, and services and products offered. Whether you’re looking for foot traffic or web traffic, Google is the ultimate search referrer and helps people find your business when looking for products and services like yours in their area.

Your Google Business profile also allows customers to share reviews and ratings about their experience with your business, which helps attract potential customers through their Google search results. Be sure to share your Google My Business link with your customers and encourage them to leave reviews.

You can set up your Google My Business profile here

2. Make the Most of Social Media Marketing

Having a prominent social media presence is no longer optional for small businesses—it’s a marketing must. Social media helps define your image, promote your business, gain clientele, and build relationships.

It’s best to start with one or two social channels that cater to your target market and ideal audience instead of trying to master all the different platforms at once. Once you learn one and do it well, add another. Be sure to leverage the latest trends on your platforms, like posting Facebook Stories, Instagram Reels, etc.

Some ideas on what to post include promoting your blog posts to drive traffic to your website, running polls and requesting feedback, and sharing client testimonials. 

While it’s OK to post recycled content once in a while, be sure to publish original content, too, including your own videos and photos, and share valuable tips and information. 

Tagging your loyal customers, partners, and vendors on social networks can broaden your business’s organic reach to a new potential audience, help you grow your following, and potentially attract new customers. 

When creating the “About” section on your business social media pages, make sure you get it right. This means creating a compelling description and optimizing the text by utilizing keywords that boost its SEO rank.

Managing multiple social media accounts, creating engaging content, posting consistently, responding to user comments and questions, and keeping up with trends can be a full-time job. Consider hiring an experienced social media manager or outsourcing the work.

3. Engage Your Audience Via Email and Text Marketing

Sending messages about your products or services via email and text is a powerful way to turn leads into customers and foster loyalty. Building successful email/SMS marketing campaigns is critical for any company and is the most effective method for reaching people interested in what your business is offering.

As a small business owner, your email list, including current and prospective customers, is one of your most valuable assets. That’s why building a customer contact list should always be a top priority. 

For customers, it’s easy to click “Follow” on social media, but they aren’t always eager to give out their email address. To get more emails and phone numbers, offer an email/text opt-in on your website, start a monthly email newsletter, and offer discount codes in exchange for providing their contact information.

When it comes to email and SMS marketing, prioritize quality over quantity. An inbox flooded with promotional messages is likely to annoy a customer into unsubscribing, while a small number of messages with valuable content can boost engagement. One of the best ways to do this is to place a coupon in your messages.

Still, great content doesn’t guarantee that recipients will open your message. To improve audience engagement, open rates, and conversions, put thought and effort into the subject line, call to action, and the email’s design. 

Before sending out a marketing email, always send a test email to yourself to preview what it will look like from a customer’s perspective. This ensures that any formatting issues get caught and addressed before the email goes out to your entire list.

4. Deliver Promotions Through Direct Mail Campaigns

Direct mail may be more costly than email marketing, but if you have a targeted list and promote appealing offers, it can be very effective—and profitable. Direct mail also has a longer life span than email marketing, which has a life span of just a few seconds. RetailWire reports that direct mail’s average life span is 17 days.

Some marketing ideas for direct mail include sending a postcard or brochure promoting your business, discount coupons, a gift card, or small branded items with your company’s logo. People hang on to things they can use, so putting your logo on items like magnets, pens, notebooks, and stress balls means more exposure for your business.

You can also time your direct mail campaigns around your customers’ birthdays. Send them special coupons or promo codes to acknowledge their big day. You can send both email and direct mail birthday coupons and compare the results. You may get a better response from an email campaign, but promotional emails often get lost in people’s busy inboxes.

5. Reward Existing Customers and Create a Referral Program

Your current customers are your most valuable resource, especially as they are your primary source of referrals and reviews. A referral from a current customer is the best kind of lead you can get, and a positive review from that customer can pay dividends for years.

One of the best ways to source new leads is to tap your existing network. Reward your repeat customers with loyalty programs that incentivize referrals and discounts. 

To encourage current and past clients to refer you to their family, friends, and co-workers, offer them an incentive, like a gift card, free product or service, or another reward that will motivate them to send referrals your way. 

Word-of-mouth marketing is one of the most trusted and powerful strategies for growing your small business.

The Oregon SBDC Network is here to help small business owners throughout the state. Visit OregonSBDC.org to locate a Center near you and access our no-cost advising services today!

Small Business Benefits of Using Customer Relationship Management

Small Business Benefits of Using Customer Relationship Management

Wouldn’t it be great to have one tool that can host your customer database, act as a sales funnel for your website, send follow-up customer emails, and aid in structured marketing campaigns for your business? There’s good news: This tool already exists! 

All this marketing can be done under one platform called a CRM, which stands for customer relationship management

In this article, you’ll learn how a CRM tool helps companies manage their interactions with customers at all points during the customer life cycle; keep them engaged from discovery to education, purchase, and post-purchase; and improve the overall customer experience. 

What Is a CRM?

The goal of customer relationship management is to improve business relationships to grow the business. When you hear the term “CRM,” it usually refers to a CRM system, which is a tool that companies use to manage all their relationships and interactions with current, past, and prospective customers. 

A CRM helps companies stay connected to their customers and streamline processes and touchpoints, including providing support and additional services throughout the relationship.

Who Is a CRM For?

There is a CRM system for every business type. A CRM helps organize customer information and stay connected to customers at different milestones before, during, and after your sales or purchase process. 

If you’re a product-based business, you’ll want to pick a CRM that’s specific to product sales, and service-based businesses should choose one specific to services. There are also CRMs that are specifically designed for industries, so you’ll want to do your research upfront. 

Having a CRM system gives your sales, customer service, business development, recruiting, marketing, and other roles in your company a better way to manage the external interactions and relationships that drive your business’s success.

CRM systems allow you to see how customers have interacted with your company, milestones in their journey, what they purchased, when they last bought from you, how much they’ve spent, and so on. 

It also stores their contact information, which helps you identify sales opportunities and manage marketing campaigns more effectively, while also making this data accessible to anyone else in your company when they need it.

The right CRM can help companies of all sizes drive growth, but it can be especially beneficial to a small business that must find ways to do more with a much lower budget.

How Does a CRM Add Value to Your Small Business?

Implementing a CRM system for your business offers a lot of value. Below are some of the benefits that a CRM solution can provide your small business:

  • Improved customer service: Customers don’t have to repeat their stories over and over each time they contact your company. With a CRM system, you can address issues more quickly and effectively, leading to better customer support. 
  • Increased sales: Using CRM to improve and streamline the sales process, build a sales pipeline, automate tasks, and analyze sales data leads to more sales. A CRM allows you to have all your customer-facing voice, chat, and email touchpoints accessible in one place and deliver the right message on the right channel at the right time in the sales life cycle.
  • More customer retention: CRM tools can show you when customer churn happens, which is when customers stop using your company’s product or service or stop subscribing, so you can identify and address those pain points.
  • Analytics you can use: CRM tools make your data accessible, understandable, and relevant to your business needs. All your sales data, finance data, and marketing data flow into the CRM to become metrics that help you make sense of everything and use it to your business’s benefit for customer acquisition and retention.
  • Better business efficiency: Having all your day-to-day business functions in one place creates a better workflow, improved project management, and enhanced team member collaboration. CRM automates tasks to eliminate menial, repetitive work. 
  • Improved knowledge sharing and transparency: Collaborative CRM tools help you build a knowledge base, establish best-practice workflows, and facilitate frictionless communication among team members. A CRM platform allows everyone in your organization to gain visibility on your business processes, fostering better collaboration. 

Types of CRM Systems

CRM software compiles customer information in one place. Having this data handy helps your employees interact with customers, anticipate their needs, record customer updates, and track sales performance goals.

CRM solutions can be categorized into three primary types: collaborative, operational, and analytical.

1. Collaborative CRMs

Collaborative CRMs, also referred to as strategic CRMs, centralize customer data where your marketing, sales, and service professionals can all access it. 

They provide visibility into all customer communications, purchase history, service requests, notes, and other details, so customer support reps are better prepared to solve customers’ problems. Collaborative CRMs can also act on this information automatically to expedite service.

As this data is shared across the organization, each department can act on it as needed. For example, at a car dealership, the service department can use sales data, like when a car was sold, to automatically contact the customer to schedule their service appointments.

2. Operational CRMs

With sales and marketing, operational CRMs automate processes related to identifying prospects, keeping tabs on customer interactions, forecasting sales, evaluating marketing campaigns’ performance, and more.

This way, your sales team can spend more time cultivating relationships with customers, while your marketing team can target specific audiences with personalized messaging.

3. Analytical CRMs

Analytical CRMs aggregate customer information from various sources to identify patterns relating to customer trends and behavior. 

These insights can be used to generate and convert more leads, develop smarter marketing campaigns, and enhance customer service. They can also help with sales forecasting, budgeting, and reporting.

What Is the Best Free Small Business CRM Software?

Many CRM services offer free plans hoping that you’ll eventually upgrade to a paid plan.

Free CRM systems allow you to try out the platform with your team to see if it provides value that makes sense for your needs—especially if you’re a small business or a startup on a small budget. Since it’s free, there’s really nothing to lose. 

Below is a list of some CRM providers that have tools for product- and service-based businesses. We recommend that you explore these and other CRM services to see which features align best with your company’s CRM goals.

  • Freshworks: Features basic contact and deal management functionality, but remains competitive with in-built calling, webform lead generation, and allowing unlimited users.
  • Zoho CRM: Features workflow automation and can work with Zoho Campaigns to send up to 12,000 bulk emails a month.
  • HubSpot CRM: Offers contact storage of up to 1 million records, custom data fields, website marketing, and up to 2,000 bulk emails a month.
  • Insightly: Has advanced project management tools, including post-deal tracking, as well as customized reporting and bulk email marketing. 
  • Agile CRM: Includes customizable data fields, one workflow automation, and bulk email marketing.

Finding the best CRM solution for your business will require some comparison shopping. But whichever CRM product you choose, your small business will quickly see its advantages, and you may wonder how your company operated without a CRM in place!

Need Assistance?

The Oregon Small Business Development Center Network is committed to building Oregon’s best businesses.

Our 20 regional Centers assist small businesses throughout Oregon with advising, classes, and access to the resources they need to be successful. Each Center is backed by our statewide support network, helping small businesses access the proper assistance wherever they are in Oregon. 

If you have any questions, connect with your local SBDC at OregonSBDC.org.

How Small Businesses Can Leverage Social Media

How Small Businesses Can Leverage Social Media

Having a presence on social media can reap big rewards for your small business. Social networking sites allow you to reach your target audience in a cost-effective way while engaging current and past customers and attracting new business opportunities.

Social media users span all demographics, but the key is identifying which platforms your customers are using and how best to promote your product or service through those specific channels.

Let’s take a look at the benefits small business owners can gain through social media marketing and dive into the differences among the top sites, so you can determine which ones are the best fit for your company.

Top 3 Benefits of Using Social Media for Your Small Business

Social media offers free access to a vast audience of potential customers, providing endless opportunities to spread brand awareness, increase traffic to your business website, and generate sales.

If you’re a small business owner on a tight budget, or if your business is brand-new, having a presence on one or more social media platforms is a marketing tactic that makes sense. While there are many benefits to leveraging social media, we outline the top three benefits for small businesses below:

1. Boost Brand Awareness

When it comes to marketing, social media has a massive advantage over traditional media platforms like TV, radio, and print. With one social media post, you can immediately spread information about your business and potentially reach millions of people.

If you’re an online retailer or service-based business, you can expand your audience to people all over the country who could potentially be buyers of your product or services. If you’re a brick-and-mortar business, you can target people who live in, or travel through, your specific Oregon location. There is no other form of advertising that can give you this type of reach for the cost.

2. Bring Traffic to Your Business Website

Another benefit of social media is that it’s easy to direct traffic to your own website by simply including a call to action in your posts, like “Visit our website to sign up now!” or “Get 10% off when you purchase online today!”

Encouraging social media followers to visit your website can improve the quality and quantity of your inbound traffic. Also, it’s an effective way to generate traffic without having to rely on SEO and Google Search.

3. Gain New Customers and Increase Sales

Another significant benefit for small businesses using social media is the ability to target your posts. You can take advantage of advertising tools that get your posts directly in front of your target audience and gain exposure to potential customers. With retargeting ads offered by most platforms, you can make sure your content is being seen by those who are most likely to patronize your business, based on demographics like age, gender, location, personal interests, and more.

Targeted posts are considered paid advertising on social media, but the good news is that on platforms like Facebook and Instagram, you can choose between CPC (cost-per-click) or CPM (cost-per-thousand-impressions) models and set your own daily budget. It’s a great tool to attract new clients and help grow your small business.

Social Media for Small Business: 5 Major Platforms

One of the struggles small businesses have with social media is figuring out which platforms are right for the business and will provide the most value. Not every social networking site is a good fit, and trying to master each one is too time-consuming. Instead, it’s best to consider which one your target audience uses and focus your efforts there.

Facebook

Facebook is the world’s largest social media network, with over 2.9 billion active monthly users in 2021. Having a presence on Facebook is a must for every small business, regardless of what products or services your company offers.

Facebook statistics:

  • 200 million small companies are on Facebook.
  • 63% of Americans over 12 say they have a Facebook account.
  • 78% of consumers have found a product through Facebook.

Creating a business profile page is free, and you can customize your page with images and list your website URL, contact information, hours of operation, and the products and services your company offers. Once your profile is set up, you can create posts that share information, photos, videos, infographics, company news, blogs, and more. And with a Facebook Business account, you’ll gain access to advertising tools and in-depth analytics.

Instagram

Instagram is incredibly popular, with around 1.1 billion active users in 2021. What sets Instagram apart from other social media sites is that it is a visual platform dominated by photo and video posts. Therefore, it’s best for small businesses that have appealing visual content to share. Just ensure that your images and video are high quality.

Instagram statistics:

  • More than half of the global Instagram population worldwide is age 34 or younger, and it is especially popular with teens.
  • Instagram is also one of the most influential advertising channels among female Gen Z users when making purchasing decisions.
  • 90% of people on Instagram follow a business account.

From Instagram Live to Instagram Stories, small businesses can use Instagram’s tools to promote their offerings. It’s important to note that this platform is almost entirely mobile. It doesn’t allow you to take photos or create new posts on the desktop version unless you use a special social media management tool.

Twitter

Twitter currently has 396.5 million users and is best for sharing brief updates, engaging with followers, and sharing links to blog posts. You can share tweets—which are posts containing 240 characters or fewer—photos, videos, links, and more. You can also interact with others on the platform by mentioning users in your posts and liking and retweeting tweets from other users.

Twitter statistics:

  • 206 million users access Twitter daily.
  • Twitter is most popular among users age 25 to 34.
  • Worldwide, men use Twitter more than women.

If you have engaging content to share and can voice that content in a captivating way, Twitter can be a valuable platform for quickly spreading the word about your business. To boost your tweets, you can use hashtags, and when users retweet your posts, your content could go viral. When using Twitter, it’s essential to strike a balance between sharing your own content and retweeting relevant content from other users.

LinkedIn

LinkedIn has 260 million monthly users and is the prime platform for professional social networking. This is the best social media channel to find and recruit talent for your company, position yourself as an industry leader, and promote your business to other professionals.

LinkedIn statistics:

  • Women account for 43.1% of LinkedIn users, while 56.9% of LinkedIn users are men.
  • The age group with the most LinkedIn users is between 25 and 34 at 60.1%.
  • 50% of internet users with a college degree or higher use LinkedIn.

Users on LinkedIn create their own profiles that showcase their skills and professional experience, similar to a resume. Businesses can create a company profile that showcases their offerings. LinkedIn is effective for posting job openings, information about your company culture, blogs related to your industry, and other content that would interest professionals. You can also join industry-specific LinkedIn Groups, which can help with brand recognition and introduce others to your company profile and website.

TikTok

TikTok is relatively new to the social media arena. On this platform, its 100 million active users can create and share short videos. It is mainly dominated by Gen Z users, and as it skews toward a younger audience, it may not be the right fit for your small business.

TikTok statistics:

  • 53% of TikTok users are male; and 47% are female.
  • Roughly 50% of TikTok’s global audience is under 34, with 32.5% between 10 and 19 years old.
  • TikTok was the most downloaded app in 2021, with 656 million downloads.

TikTok is known for posting memes, dance challenges, and viral moments. It can be a successful marketing platform for small businesses, but only if used properly. The good thing about TikTok is that it doesn’t just show you videos from those you follow. Instead, it offers a continuous stream of content, including videos from people you don’t follow but that the app thinks you might like. This means potential customers can see your content without going directly to your profile.

Get Started with Social Media for Your Small Business

Learning how to leverage social media for your small business can set you up for success.

The Oregon SBDC Network is here to help small business owners. Find the SBDC closest to you to access the resources you need to help your Oregon small business grow and thrive by visiting OregonSBDC.org.

How to Prepare a Small-Business Marketing Plan (2022)

How to Prepare a Small-Business Marketing Plan (2022)

What a SWOT Analysis Is, and How Best to Utilize It When Creating Your Marketing Strategy

One of the most valuable tools for Oregon entrepreneurs is a comprehensive small-business marketing plan. Why is it so critical to your success? Because without potential customers having awareness of your offerings, even the best product or best service will languish.

An effective small business marketing plan is not about having a big marketing budget—it’s about determining the right marketing strategies for your business, understanding your competitive advantages, and developing tactics to support your visibility and marketing goals.

In this guide, we’ll share some tips on preparing your small-business marketing plan, including how to:

  • Evaluate your business by creating a SWOT analysis
  • Determine your small-business marketing budget
  • Identify the target audience for your small business
  • Set marketing goals and build your marketing strategies
  • Finalize your small-business marketing plan

Evaluate Your Business by Creating a SWOT Analysis

The first step to creating a small-business marketing plan is to understand where your business stands. An honest assessment of internal and external factors will help you put together a strategic direction for your business.

One way to begin is by creating a SWOT analysis, which stands for Strengths, Weaknesses, Opportunities, and Threats.

For Strengths, consider what your business does well. What qualities separate you from others in your industry? What internal resources do you have that serve as an advantage? What tangible assets do you have, such as intellectual property, capital, or proprietary technologies?

Under Weaknesses, write down what challenges you have, whether they are something your company lacks, limitations in resources, or advantages your competitors have over you.

Identify Opportunities for your business, such as underserved markets for your products or services, favorable market trends for your products or services, and other external factors that may have a positive impact on your business and industry.

For Threats, take a look at what factors can negatively impact your business and industry, such as emerging competitors, changes to laws and regulations, and changes to customer sentiment.

Generally speaking, strengths and weaknesses should speak to internal circumstances, and opportunities and threats will focus on external factors that affect your small business.

Determine Your Small-Business Marketing Budget

Marketing costs money, so once you have a clear understanding of the circumstances of your small business from creating a SWOT analysis, it’s time to set a budget for your marketing plan.

As you begin to determine your marketing budget, be realistic about what you should invest. If you own a new business that is working to establish itself, you might consider allocating a higher percentage of your gross revenue as compared with an established business.

In addition to setting a monetary budget, consider the amount of time you plan to spend marketing your business each week. Oftentimes, busy entrepreneurs put their marketing efforts on the back burner as they get bogged down by day-to-day tasks. It’s crucial to apply enough time and resources in this area to move the needle for your business.

If marketing is not your forte and you don’t have time to focus on executing marketing strategies on your own (or don’t have a dedicated staff member to help you), your budget might include hiring specialists to assist with your marketing efforts.

Identify the Target Audience for Your Small Business

With your SWOT analysis complete and a marketing budget in mind, the next step in how to prepare your small-business marketing plan is to identify who you will target through your marketing efforts.

A small business’s target market is determined by many factors. You can consider specific demographics such as:

  • Geographic location
  • Business type
  • Gender
  • Income level
  • Marital or family status

You can also consider the psychographics of your target audience, which include:

  • Values
  • Interests and hobbies
  • Lifestyles
  • Behaviors

When you know who your target is, you can then determine which channels you will focus your marketing strategy on.

Set Marketing Goals and Determine Your Marketing Strategies

You’ve conducted a SWOT analysis. You know who your ideal customers are. Now it’s time to determine how you’ll reach them and set some benchmarks.

Some common examples of marketing goals include:

  • Increasing website traffic
  • Generating leads
  • Increasing social media followers
  • Growing an email list
  • Improving conversion rates

While setting specific goals is a vital aspect of the strategic planning process, it’s just as important to break down each objective into small, actionable steps to help you reach your goals.

Many small-business owners implement the SMART method (Specific, Measurable, Attainable, Relevant, Time-based), which can clarify each goal, focus your efforts, and efficiently allocate time and resources.

Consider these questions as you create your goals:

  • What is the goal? Be Specific.
  • How can my progress be Measured?
  • Do I have the skills and resources for this goal to be Attainable?
  • Why is this goal Relevant to my business needs?
  • What is the Timeframe for achieving this goal?

Once you have your goals in place, you can determine the best channels and marketing tactics to reach your target audience and make progress toward reaching your goal.

Here’s an example of a SMART goal, and some marketing tactics that can be employed:

Goal:
Increase unique website visitors by 10% in 2022.

Marketing Tactics:

  • Create a search engine optimization (SEO) strategy.
  • Create a pay-per-click (PPC) campaign to drive new users to your website.
  • Implement a social media advertising campaign to create awareness and increase traffic.
  • Review progress on a monthly basis.
  • Finalize Your Small-Business Marketing Plan

The final task in the planning process of your small-business marketing plan is to prioritize the tasks you want to accomplish. Having a to-do list to reference takes the guesswork out of deploying your marketing initiatives while running your business.

As you finalize your plan, you may wish to have a mentor review your small-business marketing plan, particularly if you are a new business owner. The Oregon SBDC Network offers no-cost, confidential advising services in all areas of business to help Oregon entrepreneurs succeed.

For established businesses that anticipate growth, the network’s Market Research Institute provides customized, data-based reports to help business owners build a customized marketing plan based on their needs and goals at no direct cost.

Contact your local Center to get started!

Small Business Development Center Approved for Columbia County, Oregon

The Center will be the Oregon Small Business Development Center’s 21st location in the state

The Oregon Small Business Development Center Network (Oregon SBDC) announced the approval of a new Small Business Development Center in Columbia County, Oregon. The Columbia County Small Business Development Center (Columbia County SBDC) is the first new center formed in Oregon since 2013. It marks the network’s 20th Center offering core business advising services in the state of Oregon.

The Columbia County SBDC will combine with a newly formed Business Resource Center (BRC), co-locating small business advising and coaching with economic development, business retention, recruitment and expansion, and tourism. The Center and staff will have access to all programs, protocols, systems, training, and software within the Oregon SBDC to enhance its already considerable capacity.

In addition, the new Columbia County SBDC will collaborate with BRC partners to conduct outreach and client recruitment that will serve every community throughout Columbia County. The advising services provided will be consistent with the other Oregon SBDC offerings, which include—as mandated by the federal Small Business Administration—no-cost advising and coaching to any business.

The Columbia County SBDC will be operated under the direction of Columbia Economic Team (CET) Executive Director Paul Vogel.

“This exciting development really is all about timing, and the timing is just right,” said Vogel. “Historically, our county has been difficult to serve by the Portland Community College SBDC due to geography and population factors. We’ve been experiencing significant growth, however, and the COVID pandemic both underscored the glaring need for business support and provided funding sources to make it possible,” Vogel added.

The Columbia Economic Team, a private/public membership organization serving Columbia County launched an initiative to form the Business Resource Center and SBDC after filling grant making and other small business assistance gaps during the pandemic and economic downturn.

“On the road to recovery from the COVID-19 pandemic, the Columbia County SBDC is a much-needed and anticipated resource for local small-business owners,” said Mark Gregory, state director for the Oregon SBDC. “With the new SBDC’s presence in Columbia County, there will be opportunities to expand and create new businesses, and provide business support solutions for the many challenges Oregon’s small-business communities face as they emerge from the pandemic in 2022.”

The Oregon SBDC would like to thank several state and local partners and investors. These partners include:

  • Columbia County Board of Commissioners
  • Columbia Pacific Economic Development District (Col-Pac)
  • The City of St. Helens
  • The City of Scappoose
  • The City of Clatskanie
  • The City of Vernonia
  • The City of Columbia City, Oregon
  • Sen. Betsy Johnson
  • U.S. Rep. Suzanne Bonamici
  • The Columbia Economic Team
  • CET Executive Director Paul Vogel
  • Tammy Marquez-Oldham, PCC SBDC Director

For all press inquiries please contact Paul Vogel at paulvogel@columbiacountyoregon.com.

How to Write a Business Plan for Your Oregon Startup

How to Write a Business Plan for Your Oregon Startup

If you’re not sure how to write a business plan for your Oregon startup, it’s pretty simple once you know the general structure it should have. As for why you should take the time to write a business plan, well, think of it as a framework to guide you through the stages of beginning and operating your business.

Plus, a business plan shows people that you’re prepared with a plan for the future of your business, and that’s important for everyone from potential investors to employees to partners.

A well-written business plan is just one tool for building a successful business, but it’s a really important one for the foundation of your business.

There’s no right way or wrong way to write a business plan for your Oregon startup. The most important thing is to craft a document that meets your needs and the needs of your business. Here are some things you might consider including in your plan.

Executive Summary

An executive summary is an eagle’s eye view of the company—think of it as the CliffsNotes version of your business plan. It should include:

  • An outline of the company’s goals
  • An outline of the company’s goals
  • A summary of the products and services the company offers
  • A brief description of the market the company serves
  • A projection of the company’s potential growth
  • Basic info about your leadership team and employees, as well as the business’s owners
  • Any plans related to asking for financing or pitching the company to investors

Overview of Company and Objectives

Now, it’s time to dive in and talk about the problem your company solves. Who do you serve and how do you meet their needs? What advantages do you have that will make you a success? It’s time to boast about your strengths and what makes your company a valuable addition to the business landscape.

If you’re already in operation, it’s a little easier to talk about what you do and how you do it. If not, summarize what you hope to accomplish and how you’ll get it done. This is where you should talk about goals, listing milestones with specific steps you’ll be taking in the future.

Market Analysis

Here’s where you let all that market research shine to show you understand what businesses similar to yours are doing. What are their strengths, and why do their businesses work? What are you doing better, and what are you bringing to the market that doesn’t already exist?

Summarize your market demographics and talk about how those demographics fit into what your business sells. Give an overview of your target market’s purchasing habits, buying cycles, and willingness to adopt new products and services. What is the trajectory of your target market—is it growing, stable, or in decline? Quantify your market with as many details as you can.

Ideally, you’re focusing on segments that can support the growth of your business. It’s much easier to serve a market you can define than to have nothing but a vague idea of who your market is.

Company Organization

Describe your type of business—are you a sole proprietorship, a partnership, a corporation, or a limited liability company? Mention your registered agent here, as well (if you have one).

Next, create an organizational chart that shows who holds each position in the company and how their experiences are a key part of the business. If you want, you could include resumes or key stats for each member of your team (this could be helpful if you are presenting the business plan to a possible investor).

It’s also helpful to include a breakdown of what each member of the team does—a basic job description works well here.

Overview of Services or Products

What is your service or product? What is the lifecycle of that service or product? Discuss how what you sell benefits your customers. How is it different from what’s already on the market? If no market for your product or service currently exists, define the opportunity for entering the market and explain why you believe people want what you will sell.

Do you have any research or development in progress? If you’re planning to offer new products or services, give an overview of the timeline and implementation needed to make that happen.

Last, list any trademarks, patents, or copyrights the company owns.

Marketing and Sales Strategy

Your business’s marketing and sales strategy will evolve to fit the needs of your business and your offerings as you grow and as marketing trends change, but it’s good to have a starting point. This section should discuss how you’ll attract customers, retain them, and upsell them. Here are some important talking points when discussing a marketing and sales strategy:

  • What’s your budget for marketing?
  • How will you know if your marketing is successful and how will you adapt if it isn’t successful?
  • What platforms will you be on and how are they relevant to your audience?
  • What will you do for advertising and how will you get the word out?
  • How will you measure return on investment (ROI)?
  • Do you need people to promote your products? How will you form these partnerships?

Logistics and Operations

Provide an overview of the workflows you need to run your business smoothly. Cover all the components you think you need for your planned business operations (or document them, if you’re already in operation), including things like:

Facilities: Where will you work? Do you have actual retail space, and where is it?
Suppliers: For products, where do you get the materials you need for production (if you produce them yourself)?
Production: How are your products produced? How will you handle spikes in demand?
Equipment: What equipment do you need to run your business?
Inventory: Do you have an inventory management system?
Shipping: Do you have a fulfillment process for shipping products to customers?

This section of your business plan shows that you have a solid understanding of your supply chain and have a plan in the event of any spikes in business or sudden growth.

Financial Projections

Here’s where you talk about the projected financial success of your business. If you’re already up and running, include income statements, balance sheets, and cash flow documents. You may also want to include any relevant information about capital expenditures.

If you’re just getting started and don’t have historical information, you may want to get more specific with your projections. You could project quarterly or even monthly information for your first year after starting the business.

A Final Note

Know that although a business plan is an important map, it isn’t meant to be perfect or permanent. It’s designed to be reviewed and adjusted regularly so you can stay on track. Without this baseline, it will be much more difficult to adjust and have a historical reference for making decisions. A business plan shows you where you’re going and where you’ve already been, and that’s key for building a successful business.

If you have any questions about how to write a business plan for your Oregon startup, get in touch with your local SBDC at OregonSBDC.org.