Second stage businesses are established entities that have survived the startup phase, and have the intent and capacity to grow. Take your company to the next level with the help of resources around planning, marketing, human resources and more.
Plan Your Business
Just like with a new business or startup, second stage companies need planning to achieve success. Understanding your company’s path forward and your long-term goals are key identifying what you already know, what your gaps are, and how to move forward.
Drive your business to the next level with a well-crafted plan. There are three popular resources that will help you achieve a written plan. Choose the resource that best fits your company’s needs.
- A well-thought out business plan is necessary for obtaining loans and is a model for your success. Refer to the Business Planning section.
- If you do not anticipate needing a loan, there are two similar resources that will help you organize the same information that a business plan covers, but in a much shorter format. These resources will help you whether you plan to bootstrap your company, seek investment, or apply for a loan.
- Business Model Canvas: a template that helps you identify and outline 9 crucial building blocks related to your business. It is much shorter and more visual in nature than a business plan
- Lean canvas: An adaptation of the Business Model Canvas. It also focuses on problems, solutions, key metrics and competitive advantages in a slightly different format.
Drive Profits through Marketing and Sales
Marketing is all about customers: knowing their needs and wants and creating the environment in which it is easy for them to buy. Use the Resource Navigator to find organizations near you that provide marketing and sales development services.
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Hire Great Employees
Your people are your company’s most valuable asset. Be thoughtful in how you attract and retain the right employees to support your growth. Here is an excellent human resources blog covering topics like leadership, recruiting, performance management and much more.
Maintain Permits and Registrations
Most likely you licensed and registered your business when you started. As businesses grow, their licensing requirements may change, especially if and when employees are added. Get legal and stay legal. Visit the Texas Workforce Commission website to access everything you need to know as an employer and job seeker in Texas.
Explore the various options for fueling your business’ growth.