Important Facts On Electronic Application For SBA 8A Business Development Program

Do you happen to be small business firm waiting for your turn to get your share of profit from the federal market? If it is so then you should know that getting enrolled into an SBA 8A certification program for small business development is just the right thing you should do to accomplish your business objectives. SBA 8a program can help you brave through the challenges that you face in your respective business field. It can get you trained with the necessary skills. What’s more, it can help you widen your profit margins in strategic steps. You can easily get enrolled into an SBA 8a business development program by using the electronic application system. However, before you do so let’s just take a look at some important facts pertaining to the e-application procedure.

The objective of SBA 8a e-application

SBA 8A e-application is a noble initiative from the federal government. It is believed by industry experts that e-application system is conceptualized as well as implemented to make it sure that the SBA 8A applicants can apply for the business development program without taking much trouble.

What are the basic requirements of the SBA 8A e-application?

8a SBA e-application is a highly systematic process and you need to know about some fundamental requirements in the first place.
• The SBA 8a applicants should make it sure that they register with the GLS or general log in system in the first place.
• No part of the application form should be left unattended or unfilled up.
• Applicants should furnish all the important supporting documents.
• Applicants must not produce false statements under any circumstances.
• The applicant should follow the step by step instructions given in the user manual.

Who can take advantage of the online application procedure?

Let’s take a look at the small business fraternities that can elicit good amount of advantage out of the 8a SBA online application process. The list includes

• SDBs or small and disadvantaged business firms
• Women owned small business firms
• Veterans who happen to be service disabled
• Minority business firms

How are the e-applicants going to get the privilege of a waiver?

While making the application online you can get the privilege of having a waiver of the requirement pertaining to two years of existence in a particular business field provided you can prove that

• You have sufficient technical expertise in your field of operation
• You have adequate knowledge of business management
• You have a good record in the contracting market
• You have personal equipment as well as facilities to complete the contract within the given timeline
• You have a strong business plan

The e-application process is a one hundred percent an internet based solution. It is completely Make it sure that you are going to keep a close eye on the facts related to e-application as these facts are going to get you more acquainted with the application process. You can rest assured that these important facts are going to make the SBA 8A e-application an easy to handle task for you.

Keys to a Successful Business Model?

Do you know your business model? If you’re not sure, you’re not alone. Many business owners are clueless when it comes to this topic!

Simply put, your business model is how your business makes money. You can think of it this way: what exactly are people paying you for? (Without paying customers, you have a hobby, not a business.)

It’s important to emphasize that your business model must be proven. There’s no need to reinvent the wheel here! To find a proven model, simply take a look around at others who are highly successful in your chosen industry. How does their business make money? What income streams are they incorporating? What are they selling?

For example, my business is primarily an information-product-based business model. With this model, a business owner makes money as a teacher, expert or coach, and builds their brand by delivering information and advice in the form of products, one-on-one coaching, workshops, online programs, books and more.

The business owner offers solutions to a particular problem, and clients and customers pay them for it.

Here are some additional examples of what your business model could look like:

You sell:

  • A one-on-one service
  • A group service
  • A standard physical or digital product
  • A customized physical or digital product

Advertisers pay:

  • To be positioned in front of your audience

The customer pays:

  • For leads or referrals (for example, affiliate marketing)
  • For your talent (for example, hosting, speaking, acting, etc.)
  • Just like my model, your model could be a combination of all of these.

Ultimately, you make the rules here, but it’s smart to follow a proven model that plays to your strengths.

It’s also helpful to understand your business’s sweet spot. How do you find that sweet spot? It lives at the intersection of who you most want to work with, what you most want to deliver, and what your client or customer most wants to buy.

If you’re having trouble getting people to invest in your products and services, take a step back and make sure you’ve done your research. Are you selling something they truly want and would pay for? (Not just what you think they need.) Do you have the evidence to back it up?

What you think they need is irrelevant; it’s what they will PAY for that really matters.

As you can see, several pieces have to come together to form the business model puzzle. Fortunately, with a little research and looking to others who have paved the path before you, you’ll be on the right (and most profitable) track to business success.

I’d love to hear your thoughts in the comments below!

10 Tips for Business Success

Recently, as I studied to learn how to do a business enterprise, I heard and took notes from the mouths of successful entrepreneurs on proven and tested methods and strategies they’ve adapted to help their businesses to thrive even in the midst of changing economies. We call such methods & strategies Rules of Thumbs.

Always Have a Plan

Before getting into any business activity, whether small or big, it pays to have a business plan or blueprint to follow. This is sort of your guiding star that will prod and direct you to your destination. It empowers you to have an overall view of all aspects of your business and the potential problems you may meet. It also has solutions to potential threats to your business undertaking.

Start Small and Grow Big

It is usually a safer idea to start small, so that you may learn the kind of business you are in. Customizing yourself to many of the hurdles and challenges that you may meet during the stages of building the business is an essential element you may use in your future decisions as an owner or manager. Expand as the need arises and when you think you can handle the pressures, expectations and responsibilities needed for business growth.

Track Your Finances

You can do this with a record keeping system. Keep track of your incoming and outgoing. Too many expenditures can greatly affect your cashflow or the equilibrium of your business and can capsize your boat. Accurate and innovative record keeping can help you to see trends and the status of your business, where it has come from and where you should take it. Such records can prepare you to make wiser decisions and rectify and realign things before they get out-of-order.

Study the Proper Marketing Mix for Your Business

Strategize what mediums to use in marketing your product or service. Most people use the written text. Use audio, video or podcast to reach your prospective clients. Be proactive and know what’s the best price for your clients and when to lower your prices or vice versa to satisfy the law of demand and supply. Know how and where to place your products and pay attention to demographics.

Don’t Overspend

Live within your means is a very old saying that is of use not only in business but in all of life’s financial aspects. Don’t be lured by excessive or unplanned marketing or promotional activities or expenditures that could have a drastic effect on your company’s budget.

Have a Reserve Fund

This will not only serve you during hard times but during emergency situations such as fire or floods or other events that you haven’t imagined could happen to your business. Since most businesses experience tough times, don’t be naïve and think that you will not. Prepare from the start for struggle. If you are one of the few businesses that don’t struggle, great! But don’t count on it. Akin to mountain climbing, the longer your ropes are, the greater heights you are capable of reaching.

It Pays to Have a Business Insurance

I knew a friend who have prepared for tough times and reaped the rewards of her vigilance when a great storm hit their place. Of all the business owners in town, she was the only person who planned for worst case scenarios by purchasing a business insurance. While majority of the businesses around her were ruined, she received a huge amount of cash enabling her to do a major repair and upgrade the amenities of her beach resort. In actuality, she came out better than before the storm.

Innovate or Change With the Times

What was upbeat in the 90′s may not be popular now. Be flexible. Innovate, or choose to die. This is a rough statement, but many businesses have lagged behind because they won’t respond or update adequately to changing trends, changing methods, changing times. You must plan from the start.

Beat the Competition

Always, always, always – stay competitive. Your competitive attitude is essential for confidence that you can produce a product or service as well or better than anyone else. It also fortifies your “guard”, increasing your capabilities, resourcefulness and ingenuity.

My fiancé is a golfer. His golfing hero is Ben Hogan. Hogan believed that you must have an edge on your competition.” In other words, you have to do something that they don’t do! Bottom line: Do something that other businesses don’t do. Have things that other businesses don’t have. And the more unique you are, (the more things you have that they don’t have), the more this sets you above any competition you may face.

Be Persistent

In the midst of all the nitty-gritty details of having to conceptualize, start, grow and maintain your business, you need persistence. Why? Because success is generally not easy to make and there are times you may need to fall, not only once but a few times, to become successful. This is part of your education in the University of Hard Knocks. Remember the adage, “If you fall off the horse – get back on.”

Years ago, Stanford University did a study to find the most common traits of successful people. They called this study The Peak Performance Study. In it, they examined the elements that made successful people successful. They examined people from all walks of life: such as business, entertainment, sports, medical, politics, etc. What they discovered was that most successful people fell many times in their rise to success. But the one reason, the so-called common denominator that all of them possessed was, you guessed it, persistence. Foremost among this list is perhaps the American Civil War President, Abraham Lincoln, who failed to get elected 50 times — before he became President of the United States. So if you have a great idea, and you know it, don’t let anyone or anything discourage you from pursuing it. Chances are that along with the millions before you who have not given up on their dreams, you, too, will eventually win and be called a success — if you simply persevere.