First Bank of the Lake: 3 Tips for Starting a Home-Based Business

Home-based businesses have become a more common trend over the years. The dream of becoming your own boss can be a reality, but you have to be willing to work hard, possibly harder than you have ever worked. How bad do you want that dream? You may also need some financial assistance getting started. For an SBA loan at the Lake of the Ozarks, call First Bank of the Lake at 573-348-2265. Keep reading for a few tips for starting a home-based business.

3 Tips for Starting a Home Based Business

Save money where you can by using free services.

When you are just starting your home-based business, the odds are you probably don't have a ton of incoming business yet. Be strategic and use free services where you can. For example, you could use Google Hangouts for business meetings with clients who may live hours away.

Get involved in the community.

One of the best ways to present your home-based business in the best light for your community is to get involved. For example, at the Lake of the Ozarks, there are several community groups you could get involved in, such as:

The Lake of the Ozarks Regional Economic Development Council
Kids Harbor
COPS
BNI Mid America
CADV
The Lake of the Ozarks Idiots Club
Rotary
The Missouri Forget Me Not Horse Rescue

Organizations like these are typically looking for volunteers or board members. Not only could you get the word out there about your new business, but you could be doing a genuinely good thing for the community and helping your neighbors.

Market your business and communicate with your customers the way they want to be communicated to.

Know your target demographic and how they like to be communicated to, whether it be through e-mails, social media, or phone calls. Also, pay attention to how your competitors are advertising. In today's age of technology, it is important to have an online presence so people can find you. Get yourself a working website and social media presence. Actively update your information and stay on top of your marketing efforts.

You Have to Spend Money to Make Money

SBA 7(a) loans are guaranteed in part by the Small Business Administration, an agency dedicating to supporting small businesses across the United States. The SBA guarantees part of the loan, but First Bank of the Lake provides the funding for the loan. Because they are specifically geared towards funding small businesses, SBA loans offer several unique benefits designed to give entrepreneurs a competitive edge, including long-term financing, low down payments, and several different loan options. For a community bank at the Lake of the Ozarks, you can trust with your home-based business financing, call First Bank of the Lake today at 573-348-2265 or visit our website at www.FirstBankLake.com for more information.

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