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Marketing
Understanding your competitors and defining your target markets are key
elements to success. NMSBDC advisors can help you use the 4 P's --
product, price, position, promotion -- to reach your target market
successfully. They can also advise you on the cost-effective use of
various marketing and advertising techniques. For more information
on marketing, see:
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International
trade - import & export
International trade is not just for big business. New Mexico small businesses offer many products with global market potential. Each center can help you through the international trade maze through direct assistance or referrals to a variety of New Mexico, federal, and out-of-state resources.
The NMSBDC has launched a free program located near the Silver City SBDC for small businesses that want to trade internationally, especially with Mexico. Services are available for both New Mexican and Mexican companies. The program offers one-on-one counseling, an online resource guide, an electronic database of trade leads, joint venture opportunities, and tips on exporting & importing. Contact the New Mexico International Business Accelerator for more information.
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Women
& minority-owned business programs
Women- and minority-owned businesses comprise an expanding
segment of our state's entrepreneurial economy. Understanding
the additional challenges they face, the NMSBDC provides
training tailored to the specific needs of these entrepreneurs.
Entrepreneurship training can be provided in Spanish within
the network of NMSBDC offices across the state.
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Veterans
Information Programs
Many veterans retire here as a result of the significant
military presence in New Mexico. NMSBDC provides direct
assistance to many existing veteran-owned small businesses,
as well as to veterans and soon-to-be veterans interested
in starting a business. NMSBDC offices located near military
installations often provide on-site entrepreneurship training
in cooperation with the military's Transition Assistance
Program (TAP).
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Small
Business Loans
The NMSBDC works closely with local lenders, the Small Business
Administration, and a variety of government and non-government
lending programs serving New Mexico. While the NMSBDC does
not provide direct financing, we can help you identify your
specific financing needs and develop the proposals required
by various financial institutions. The NMSBDC has helped
entrepreneurs like you obtain more than $200 million in
investment and lending capital in just the last ten years.
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Bookkeeping
Any successful entrepreneur will tell you that good financial
records are vital to understanding how your business is
performing, identifying problem areas, and planning for
the future. Whether you need basic or advanced assistance
in setting up or understanding your small business financial
records, our NMSBDC advisors can help.
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Financials
Preparing projected financial statements can be challenging
to the first time entrepreneur. Understanding historical
financial information for future planning is equally challenging
to existing small business owners, who may find they are
making a paper profit, but still suffer from cash flow problems.
NMSBDC advisors, who have extensive training and experience
in financial analysis, can teach you how to interpret your
business and personal financial statements.
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Computing
Technology is a valuable aid in modern business management
and growth. If not properly utilized, however, the computer
can be more of a burden than a help. You need to evaluate
what computer hardware and software is appropriate for your
business. The NMSBDC can help you identify which business
needs can be addressed with computing technology and provide
training on a variety of financial bookkeeping software.
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Selling
to the Government
Government procurement can be a major source of revenue
for small businesses, especially in New Mexico, with its
many city, state, and federal government offices, military
facilities, and two national laboratories. The NMSBDC cooperates
with a variety of state and federal programs to provide
procurement assistance that enables you to tap this lucrative
market.
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Technical
problems
Small business owners confront a variety of challenges.
Because of the heavy demands on their time, owners can often
feel overburdened and become frustrated or discouraged.
With their extensive experience assisting small business
owners, NMSBDC advisors can usually provide quick, practical
advice. As part of a nation-wide network, the NMSBDC can
leverage its ability to address most issues directly, through
research, or through contacts. Each NMSBDC maintains an
extensive business library on-site, as well as access to
Internet resources.
