You want your business to grow and prosper, right? Then you have to plan for it, and here are five key areas to consider:

Revisit your business plan. With your business plan in the flexible format recommended on the Plan It section, it will be easy to evaluate your goals. Have they changed? Do some sections need revision? Are your supporting documents in order? What new ideas/concepts/plans do you need to add?

Assess your operations. Are you operating as efficiently as you could be? How close are you to capacity? Do you need more space or larger facilities just to meet current capacity needs?

Evaluate your team. Do you have the right people working for you? Do you have a plan for attracting new personnel? Have you defined the duties, responsibilities, skills and experience needed for each position? In what areas of your business could you use more or better help? What types of training programs are you able to provide?

Grow your market. Are you reaching the right markets for your product or service? What markets are you missing and what plans do you have for reaching them? Is your marketing budget adequate? What promotional strategies are you using and are they effective?

Rate your financial situation. Have you reached your break-even point? What’s your cash flow situation? How much capital would it take for you to expand? Can you afford to do so?

No business can grow if it remains stagnant — doing the same old things, in the same old ways. Plan for change as you go by adopting new ideas and expanding into areas of operation you might not have previously considered, such as government contracting and exporting.

 

Selling to Florida

Working with State Agencies

Some small businesses may find it worthwhile to develop a marketing campaign specifically for state of Florida agencies.

MyFloridaMarketPlace, which is part of the Florida Department of Management Services, has nearly 15,000 registered buyers who issue, on average, 5,000 purchase orders each month. MyFloridaMarketPlace.com streamlines interactions between vendors and state government entities and provides the tools to support procurement for the state of Florida.

Florida agencies have three levels of purchasing: (1) Formal purchases (greater than $35,000; require competitive bidding); (2) Informal purchases (less than $35,000; no requirement for competitive bidding); and (3) State term contracts.

After you determine which level best matches your business’s abilities, your next step is to register in the MyFloridaMarketPlace system. For details, visit www.dms.myflorida.com/myfloridamarketplace.

Government Contracting

Selling to Uncle Sam

Many businesses have found government contracting to be both a lucrative and long-term avenue to expansion. Every level of government buys goods and services, spending billions of dollars annually even during times of economic uncertainty.

To best position your firm for successful government contracting on all levels, the Florida SBDC Network suggests these steps:

Evaluate
Understand what agencies buy, when and how much is purchased; focus on market areas that present the best probability for your firm’s success.

Plan
Target government agencies and prime contractors who are buying what you provide; research government agency procurement histories and forecasts.

Register
Complete the required/mandatory government database registrations including: D&B DUNS, System for Award Management, Dynamic Small Business Search, MyFloridaMarketPlace, city government and others.

Prepare
Develop a corporate capability statement for your firm, create a government-focused “sales pitch,” collateral materials and e-marketing resources; secure preferred small business certifications such as: 8(a); Woman-Owned Small Business, HUBZone, Veteran-Owned and applicable state and local certifications.

Pursue
Monitor computerized Bid Matching Services (daily searches and email alerts); identify contracting/sub-contracting opportunities through government bid boards, posting databases and networking; obtain a GSA Schedule contract, if applicable; analyze solicitations/bids and cost elements.

Achieve
Support the phase-in of your government contract; develop a government-accepted accounting system; prepare in advance to handle any possible contract audits, reports and modifications.

Government Contracting
Specialists at the Florida SBDC Network are available to help you learn the ins and outs of government contracting and help you best position your firm as a successful government contractor.

 

Exporting

Going Global

Another option for small businesses looking to increase sales and profits is expansion into international markets. Does your firm’s product or service lend itself to export? Have you considered extending your market reach across international borders? If you answered “yes” to either question, your geographic positioning could not be more ideal.

Positioned at the nexus of transportation links in the Americas, Florida boasts a multimodal system that ensures the seamless movement of people and products between any two points around the globe. Moreover, Florida businesses enjoy access to the nation’s second largest Foreign Trade Zone (FTZ) network, where value can be added to foreign goods tariff free before shipping them on to another country.

If you find the idea of expanding into international markets an appealing growth strategy for your business, exporting assistance is available through Enterprise Florida’s International Trade and Business Development division and its six trade offices, which are strategically located throughout the state.

For companies brand new to exporting, the Florida SBDC Network offers International Trade Services and Trade Specialists to help business owners navigate the complexities of international trade. One-on-one consulting is available to help with learning foreign trade basics, obtaining required licenses, understanding country requirements for products and preparing an “Export Marketing Plan.”