In this episode we explore a highly-valuable local resource for every phase of a business' development... Small Business Development Centers and our guest Miller Slaughter. The WKU Small Business Development Center is committed to helping small business and entrepreneurs in the area. For the past 30 years our highly trained staff has been assisting small businesses in South Central Kentucky with Starting, Financing and Growing their business.
3 Key Points
- Business success requires preparation & a plan
- For every challenge & stage for your company's development, resources exist
- SBDCs are local, affordable and are ready to help, leverage their expertise
Time Stamped Notes
- [1:00]- Acquisition Preparedness Checklist (Buyers & Sellers)
- [2:30]- RA's episode comments & insights
- [4:35]- Begin trio-log conversation with Miller Slaughter and Greg Reynolds
- [6:15]- What is the SBDC?
- [7:40]- Who can work with the SBDC
- [11:10]- Millennials and modern entrepreneurship
- [12:10]- Types of businesses and associated challenges
- [15:00]- Common buy/sell scenarios & how to prepare your business for sale
- [18:30]- Businesses in Bowling Green, KY
- [20:30]- Events and workshop resources
- [21:30]- Finance preparation
- [26:00]- SBA lending changes
- [27:00]- Seller financing realities
- [29:30]- Challenges with selling a business
- [31:00]- Connecting with the SBDC at WKU
- [34:30]- SBDC as a resource for your business
- [37:00]- WKU Center for Research & Development
- [38:30]- Business challenges? Get help!
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