(Startup or New Product)

FIRST STEPS

When you meet with your advisor, they will listen openly to your concerns and discuss your financial challenges, goals, and expectations in a judgment-free environment.

  • New Idea Assessments- Part of successful business development is assessing your idea(s) and deciding whether or not to move forward with them. The Kansas SBDC can work with you on sizing up your business concept and help you formulate a plan for your next steps.

  • Business Plans - A good business plan guides you through each stage of starting, managing, and growing your business. The Kansas SBDC can help you think about your business in a thorough and systemic way and guide you in the process of creating your business plan.  

  • Financial Projections - The Kansas SBDC makes it easy for businesses to evaluate their numbers and use that information to plan carefully and make decisions to avoid business failure.

FUNDING OPTIONS

 

When applying for a traditional bank loan, SBA loan, or a grant, there are certain criteria that most lenders look at. We help you assess your needs and work with you to identify the best funding options for you and your business as well as the steps you must take to meet the criteria.

  • Loans & Grants: For a helpful overview on Loans & Grants click here.

  • Crowdfunding - Crowdfunding is an alternative source of funding by which a certain amount of money is gathered by several individual contributors to fund a specific project, invention, or business. Kickstarter and IndieGoGo are examples of crowdfunding platforms that you can use to raise additional funds. Your advisor can work with you to decide which platform would work best for you and the steps necessary to launch your crowdfunding campaign.

  • Investor Pitches - Pitching to investors is somewhat of an art form. Your Kansas SBDC advisor can help you prepare an effective pitch that explains your business idea, addresses perceived risks, and illustrates a future return for the investor.

  • Capital Access Center(CAC) - The CAC, part of the Kansas SBDC, is a consulting service to small business owners needing Capital (Loans, Lines of Credit, etc) or that have "Ask a Banker" type of questions that they would feel more comfortable asking the experienced staff at the CAC vs asking their own bank.

BUSINESS REGISTRATION BASICS

Your Kansas SBDC advisor can help you understand the process of registering with the state as well as what licenses and permits you may have to obtain, and any fees you may be required to pay. Additionally, we can help you set-up the various Sales Tax Payable Accounts & Business Identification numbers. 

  • Your business structure (Sole Proprietor, LLC, etc) affects how much you pay in taxes, the paperwork you need to file, and your personal liability. 

  • Employer Identification Number (EIN): like a social security number for your business

  • Sales Tax Payable Account Set-up: An account with the State of Kansas for Businesses that need to collect Sales Tax

  • Available LLC “Startup TriFecta” Service for Kansas Businesses: Kansas businesses can call our 7 day per week Assistance Center at (800)949-7661 for help with these first 3 items (Business Structure, EIN, Sales Tax Payable Acct).  For businesses that have determined an LLC is the correct business structure for them, the Startup Trifecta takes approximately 1 hour (give or take 15mins) with same/next day virtual meetings typically available.

  • DUNS Number: a business identification number that is used for some Grant programs, you can apply for your free DUNS number here 

  • Optional:  SBA Business Certifications (Minority, Women Owned, Veteran): These designations can help significantly with Government Contracting and sometimes help with special Grants or Funding programs.  Your SBDC Advisor can help you understand these programs but the actual certification is thru the SBA itself.

HIRING EMPLOYEES

 

You don't have to be an HR professional to learn the basics. The Kansas SBDC can work with you on hiring processes, rules & regulations, staff roles, and manuals.

TECH COMMERCIALIZATION ASSISTANCE

 

To learn more about our Tech Commercialization program (including help with SBIR/STTR Grants & Intellectual Property Protection), click here.
 

MARKETING & SALES

Today’s competitive environment requires small businesses to periodically revisit their marketing strategy in order to be successful. For Kansas SBDC business clients, we help simplify "all things marketing," including creative ways to market your business and how to market on a limited budget. We make it manageable for businesses to evaluate their advertising, promotion, and sales efforts. 

  • Online Marketing (Websites & Social Media like Facebook, etc).  As COVID showed, businesses need an online presence now more than ever.  For businesses needing some extra help in this area, our 7 day per week Assistance Center (800)949-7661 can help you understand (& possibly help set-up) your website & social media page options. 

  • Exporting: Many times overlooked or not fully understood, Exporting can prove to be a worthwhile marketing/sales effort for many businesses. There are special Grant/Funding Programs available to assist Exporters.  Your Kansas SBDC Advisor can work with you to better understand if this might make sense for your particular situation.

  • Strategy: Your Kansas SBDC Advisor can work with you to better understand a straightforward Marketing Strategy for your business (including how to position yourself vs competition thru pricing, promotions, distribution, marketing materials, etc).  

  • Classroom Projects:  Additionally, from time to time, the Kansas SBDC working with our College/University Host Institutions have opportunities for Class Projects where college student teams evaluate & make suggestions for your business.  These student projects will typically run throughout the semester and can cover many different topics (typically Business Plans, Marketing Plans, Advertising, etc), if your timing can match up with the semester requirements this could be very beneficial for everyone. 

 

FINANCIAL RECORDKEEPING

  • Understanding Financial statements: This doesn't have to be a headache. We help you understand the raw materials from which your financial statements (P&L, Balance Sheet, CashFlow) are constructed, including invoices, deposits, accounts receivable and accounts payable, and much more. We help you make sense of the numbers that allow you to keep your business's financial health in check. 

  • Understanding Accounting software for your business, specifically QuickBooks. Why QuickBooks?  It’s the #1 accounting software used by small businesses.

  • Sales Taxes: There are lots of different Sales Tax Rules depending upon your business, so we routinely offer training seminars with Kansas Department of Revenue presenters so you have access to the definitive experts on what you have to comply with (& just as importantly, there are some things you may be doing that you could do differently to save money!)

  • Putting the Numbers to use with Key Performance Indicators (KPI’s): You are tracking all this info about your business, but are you using those numbers to help you operate better?  Many times the answer is no, let your Kansas SBDC Advisor help you use those numbers for Projecting/Budgeting and Goal Setting for your business to help lessen some of the “negative surprises” that can occur when running a business.

Funded in part through a Cooperative Agreement with the U.S. Small Business Administration.

KANSAS SMALL BUSINESS DEVELOPMENT CENTER

at Pittsburg State University

 (620) 235-4921