Business Expansion is Still Possible
For those wanting to expand your business, with the right preparation, guidance, and planning you can look more forward to your long-term goals.
As someone who has served Front Range businesses with over 14 years in the industry, as a commercial loan officer with Elevations Credit Union I’ve seen, and helped, businesses weather the hard times and prosper in the good times. Most of what I do is advisement. Yes, I am going to secure your loan, but I am also there to share how to achieve milestones and take the next steps for your business.
The COVID-19 pandemic certainly surprised us all in how quickly we had to pivot to a world where sheltering at home was safest, and we are still navigating this new normal in our daily lives. The pandemic has also amplified many of the barriers to expansion that businesses face: hiring a skilled workforce, cost of and access to building materials, and the availability of land as demand increases. Looking at this list can be daunting for any business owner, and there are challenges facing businesses of every size across industries and across the country.
Something I’m passionate about is helping businesses overcome challenges and find opportunities to achieve their long-term goals, and many businesses share the goal of expansion.
For those wanting to expand — with the right preparation, guidance, and planning you will be able to achieve your goals. Part of navigating these challenges to achieve your goals comes down to being aware of the nuances of the issues and identifying organizations, funding sources, and individuals capable of helping achieve your goals.
The first step is planning — and it’s something you can do each day without being overwhelmed by world events.
The first step is planning — and it’s something you can do each day without being overwhelmed by world events. If you have your finances, staff, and realtor in order, you will not have to scramble when the time is right to make a move. Being prepared is one piece to the puzzle, and having trusted advisors involved in the conversation to help guide you makes expansion more attainable.
Build a Team You Trust
With trusted advisors, organization, and planning, you are enabled to make an informed decision. When you have a team you can depend on for honest input, it makes it easier to answer questions, like whether or not now is the right time to expand, if it makes more sense for you further down the road, and what may be other options.
Timing, Timing, Timing
A lot is possible for you and your business, the key is finding the right advisors, being prepared and — perhaps most importantly — timing. This can also be the one factor most out of your control. This is why being prepared and having a trusted team of advisors will lead to not only you feeling ready to take the next step, but actually being ready when the timing is most advantageous toward meeting your long-term goals.
While these times are unpredictable and daunting, it’s good to stay optimistic about your goals and continue to work each day to lay the foundation for future growth and expansion.
If you’re ready to take the first step in building your trusted team, visit: Elevations Credit Union.
Jason Barnes is a Commercial Loan Officer for Elevations Credit Union.