Key to small businesses' success is knowing where to get help

Small businesses are the backbone of the American economy, but while running such a business can be rewarding, it can also be very challenging.

Often the difference between success and failure is knowing when to seek help and where to find that help.

One of the most important messages local small business advocates and support organizations try to convey to entrepreneurs is simple: You don’t have to figure out everything on your own.

You’re not alone

There are hundreds of thousands of small businesses all over the country, but the people behind them too often think they have to come up with all the solutions to the problems they encounter on their own, according to Marjorie Luke, chapter chair for Piedmont SCORE.

SCORE, an acronym for Service Corps of Retired Executives, is the largest small-business mentoring organization in the country. Its thousands of mentors bring expertise from successful careers in a variety of industries and business backgrounds, and Luke said they form the core of the group’s efforts to build successful business communities locally and nationwide.

Luke said getting an outside perspective can help business owners get a handle on issues they might not have considered.

“It’s always good to ask for help,” she said.

One of the fundamentals many business owners overlook is developing a business plan, which is essentially a road map for where the business owner wants to go and what they want to achieve, Luke said.

“A business plan and doing your fundamental market research is absolutely mandatory if you want to get your business off the ground,” she said. “And it doesn’t have to be complicated.”

SCORE offers online resources to help develop a business plan, which Luke said is a good idea even for businesses that are well established.

There are also a wealth of online resources for business plans and other topics through the U.S. Small Business Administration’s website.

“A business plan is a tool that you will use forever for the life of your business,” Luke said. “It’s something every business owner should want to have.”

Other key considerations for running a small business include:

Do you really want to be a business owner? Running a business is a lot of work, and many entrepreneurs discover that work actually keeps them from doing the thing they love most and which prompted them to start a business in the first place. For instance, a baker may find he or she has no time for baking amid all the demands of running a business, Luke said.

Do you have a team in place to help with all the particulars of running a business? Having an accountant, lawyer and web developer/IT expert can help an entrepreneur avoid many of the problems and expenses virtually every small business has to navigate by providing specific expertise.

Expanding opportunity

A homegrown effort to expand opportunities for small and minority-owned businesses is Power Up Spartanburg, an initiative of OneSpartanburg Inc.

While the program does offer similar resources to SCORE in terms of subject matter experts and mentors, Power Up Spartanburg also offers financial assistance for qualifying businesses in Spartanburg County.

This is particularly significant for minority-owned businesses as they have historically had access to fewer resources, according to Jay Jenkins, OneSpartanburg’s director of small and minority business.

While small businesses as a whole form the backbone of the American economy, Jenkins said minority businesses frequently also serve as linchpins for the communities they serve.

Healthy small businesses tend to support and bolster healthy communities, he said.

Another Power Up Spartanburg program seeks to expand small business opportunities by connecting those firms to larger corporations as suppliers. “Power Up: Securing Contracts” acts as a bridge between small firms and larger companies, and Jenkins said becoming a supplier for a major corporation can be a “game-changer” for a small business.

Programs like Power Up Spartanburg and SCORE, which has opened a Spartanburg branch and plans an Anderson branch by the end of the year, can significantly improve a small business’ chances of success.

“It’s never too late to ask for help,” Luke said.