With 80 percent of businesses in Northern Nevada categorized as “small companies” that employ 50 or fewer people, one key to rebuilding our economy is supporting those small businesses – and starting more.
Luckily, several non-profits in Reno offer advice, expertise and support to entrepreneurs seeking to start and/or grow a business.
The Nevada Small Business Development Center is one such group. This week Rod Jorgensen, director of counseling and management consulting, offered insight and tips to potential business owners – based on nearly 20 years of experience and with working with hundreds of companies that are making it.
“The most successful companies are getting 90 percent of their volume (sales) from outside the local area,” he said.
In other words, these companies sell over the internet, in large cities or in the wider world – much like Jimmy Beans Wool that I wrote about last week.
“I’m a big fan of virtual businesses. There’s not a lot of start-up debt,” Jorgensen said.
The NSBDC staff offers information, advice and other services – and the best part? It is FREE. They offer info on finances, demographics, technology, training, and can connect business people with other useful organizations.
“We counsel 800 to 1,000 businesses or proposed businesses each year,” he said. Of those 20 to 25 percent actually go into business.
“The Information is free — whether a company chooses to use it, is up to them,” Jorgensen said.
I am a big fan of research — Avoid the known pitfalls — you will find plenty of others along the way. Are you starting a business? Have you worked with NSBDC, SCORE or other group? Did it help? Tell me about it!