As a seasoned business owner, I know from brutal experience how much time and money go not only into starting a new business, but into whipping it into shape enough that you aren’t spending all your resources putting out one fire after another.
In fact, it isn’t uncommon for new business owners to have all the customers they can handle yet still feel as if they’re perpetually an inch from disaster.
There were months when I opened my first business where I’d be owed literally hundreds of thousands of dollars from satisfied clients while not having a single cent in my pocket.
At times, I got so desperate that I’d put on a business suit—something I’ve always hated—and drive around town begging clients who weren’t behind on their payments to pay up early. If successful, these last-minute visits would be justified; otherwise, they were just a waste of daylight, yet another precious commodity I never quite had enough of.
Silver linings
If you experience days where you theorize that words like “quandary” and “crisis” and “disastebacle” – okay, I made that up – wouldn’t exist if some sweaty small business owner somewhere hadn’t invented them, I don’t blame you.
Here’s the good news. With a little hustle, young business owners today can take advantage of a plethora of free resources that old-timers like me never dreamed of. Whether it’s mentoring, free business classes, or assistance in finding affordable financing, a savvy entrepreneur can take steps toward whipping their business into shape without draining their coffers:
1. SCORE
SCORE is a nonprofit organization that offers free business mentoring and education to entrepreneurs. With over 10,000 volunteer mentors across the United States, SCORE provides personalized guidance on various aspects of starting and running a business. Entrepreneurs can connect with mentors in person at local chapters or virtually through email, phone, or video calls. SCORE also offers workshops, webinars, and online resources to help small business owners at every stage of their journey.
2. Small Business Development Centers (SBDCs)
SBDCs are part of the U.S. Small Business Administration (SBA) and provide free counseling and training to new and existing small businesses. With nearly 1,000 local centers across the country, SBDCs offer assistance with business planning, financial management, marketing strategies, and more. Their advisors can help entrepreneurs develop business plans, navigate formation processes, and improve operations.
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3. Amazon Small Business Academy
Amazon’s Small Business Academy offers a range of free resources for both aspiring and established entrepreneurs. These include live events, podcasts, on-demand classes, and access to a network of business professionals. The academy provides practical guides for starting and growing a business, with specific resources for those interested in selling on Amazon’s platform. Their Founders Table event series is particularly valuable for new entrepreneurs, featuring insights from industry experts and successful business owners.
4. Google for Small Business
Google offers several free tools and resources for small business owners. The Google Business Profile – formerly Google My Business – helps drive customers to both physical storefronts and online platforms. Google Workspace and Google Drive provide free productivity tools, while the Google for Small Business page offers guidance on SEO, advertising, and marketing. Additionally, Google’s small business lesson collection covers topics such as market research, business planning, and funding preparation.
5. U.S. Small Business Administration (SBA) Resources
The SBA provides a variety of free resources for small business owners. These include online courses through the MySBA Learning Platform, covering topics from starting a business to writing a business plan. The SBA also offers sample business plans, free workshops and webinars, and access to resource partners who can provide additional support and guidance.
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6. MicroMentor
MicroMentor is an online community that connects entrepreneurs with experienced business mentors. This platform allows small business owners to receive strategic one-on-one advice tailored to their specific needs. MicroMentor is free to use and provides opportunities for entrepreneurs to build supportive networks, gain insights from seasoned professionals, and access guidance on various aspects of business growth.
7. FDIC’s Money Smart for Small Business
The Federal Deposit Insurance Corporation (FDIC) offers the Money Smart for Small Business program, which provides free training modules and resources for small business owners. These modules cover a wide range of topics, including financial management, risk management, tax planning, banking services, insurance options, and organizational structures. This resource is particularly valuable for entrepreneurs looking to improve their financial literacy and business management skills.
8. U.S. Department of Commerce Resources
The U.S. Department of Commerce, comprising 12 different agencies, offers various resources to promote job creation and economic growth. One notable resource is the Minority Business Development Agency, which provides support specifically for minority-owned businesses. These resources can help entrepreneurs strengthen their position in the global marketplace and access opportunities for growth and development.
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9. Small Business Mentorship Initiative
The Small Business Mentorship Initiative is an independent nonprofit organization that supports entrepreneurs and small business owners in underserved communities. This initiative connects business owners with accomplished mentors who provide dedicated, one-on-one guidance and valuable connections. The mentors offer broad expertise in various aspects of running a small business, including strategy, finance, marketing, and operations.
10. Clover’s Free Resources
Clover, a business solutions provider, offers a range of free resources for small business owners. These include an eBook library with downloadable guides on various business topics, as well as Clover Academy, which provides on-demand videos and webinars. While Clover’s primary business is providing paid services, these free resources can be valuable for entrepreneurs looking to expand their knowledge and improve their business operations.
Though I’m grateful that the days of scrimping and saving every penny of every dollar and every minute of every hour are far behind me, there is a certain nostalgia – a feeling of having experienced something unique and important – when I reflect on them.
I’m also exceedingly grateful that fledgling entrepreneurs these days have an abundance of free business tools with which to improve their prospects a mere click of a mouse button away. Taking advantage of such services may well give you a crucial advantage in the years to come.
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