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As a small business owner, you’ll often wear many hats that could include anything from helping clients to managing finances. But it’s impossible to be an expert on every little thing, right?

Maybe you’d like to strengthen your knowledge in certain areas because they’re not your strong suit (i.e. bookkeeping), or you’d like to get beyond breaking even and grow your profits. 

Just know that you don’t have to go at it alone. Business advisors are resources that not only can help you overcome hurdles, but can also help you get on a better path to achieving your goals. 

What Does a Business Advisor Do?

Business advisors are like an all-in-one financial consultant, marketing strategist, confidence-building cheerleader, and growth coach. Think of them as a co-pilot, an extension of your business if you will, who stays up to date with industry trends. They can help you identify your business’s strengths and weaknesses, come up with a game plan, decide the best way to reel in more clients, and find ways to optimize your daily operations. They also offer help with navigating some of the requirements to get your business off the ground. 

5 Reasons to Meet with an SCCU Business Advisor

If you’ve been searching high and low for a small business advisor, look no further than Space Coast Credit Union. Here are the top reasons why: 

1. You’ll get nuggets of wisdom

The SCCU Business Advisors team is made up of people who bring a lot of different backgrounds to the table, such as finances, leadership, and marketing. They’re also Certified Small Business Consultants with the Association of Accredited Small Business Consultants. In other words, you can feel rest assured that the advisor you meet with will give you sound advice on your money matters and on other areas to help your business grow and succeed.  

2. Your consultations are FREE

Anybody, even non-SCCU members, can meet with our Business Advisors for FREE—either virtually, in your place of business, or in a branch location—your choice! (SCCU members can take advantage of their coaching and consulting program.) They specifically want to learn more about YOU and YOUR business, no matter if you’re just starting out or in the thick of it. 

They’ll ask you questions to learn more about your goals, objectives, and the challenges you’re facing. Plus, they’ll also walk through a step-by-step guide with you to launch your business. Better yet, they can help you with your banking needs, such as recommending merchant services, accounting and payroll services, etc.

3. You’ll get expert advice on your finances

Did you know that about 50% of all small businesses fail during the first five years of being open? The top reasons many businesses close are cash-flow issues and getting customers. An SCCU Business Advisor will help you maintain success by learning more about your business and how it operates and transacts, as well as your goals. Then, they’ll provide you with recommendations and even come up with a structured plan in some cases to meet those goals, such as generating more revenue, maximizing profitability, and saving more money. They can also help you choose a financial management solution to keep your finances running more smoothly on a day-to-day basis. 

As a side note, SCCU has partnered with BancCard, which allows businesses to accept all card types with EMV/NVF terminals that have smartphone/tablet functionality. Plus, we also offer a variety of FINSYNC packages that help businesses centralize their finances all in one location, such as payments, payroll, and accounting and cash flow. Learn more about FINSYNC here. 

4. You’ll get assistance with creating a blueprint for success

Once they’ve nailed down your goals and finances, they’ll work with you to map out a plan with winning strategies to strengthen your business’s future—both for short-term and long-term planning. If you need to secure capital funding, they’ll go over the information and documents you need to make it happen with a loan or credit card. Or perhaps, you’d like a little more advice with branding your business, attaining clients, developing supply chains, or launching new products or services. 

5. You can get guidance on employment growth

It’s not uncommon for small businesses to have some growing pains as they scale their operations. If you’re facing roadblocks with hiring, such as listing jobs, meeting skill gaps, interviewing difficulties, etc., then a business advisor will be happy to help give you some pointers so that you can build your dream team. 

They may also make recommendations for human resource specialists if you’d like more information on legal requirements. Additionally, they may also suggest organizations to join or events to attend that’ll help you connect with other business owners and community members because networking often helps lead to employee referrals. 

Best Practices for Meeting with a Business Advisor

If this is your first time meeting with a business advisor, here are some key tips to better prepare you for a more successful outcome:

1. Be ready to discuss your goals and challenges

2. Bring any questions you may have 

3. Come with an open mind 

That’s it! Remember, a business advisor only wants to help your business grow, so be prepared to receive constructive feedback. You’re welcome to meet with an advisor just once or multiple times to solve ongoing issues and go over more financial information. 

Small Business Services | About Space Coast Credit Union

If you’d like to become a member of SCCU, you can become one if you live or work in any of these 34 counties and make a $5 deposit to a Share Savings account. As a member-owned cooperative and not-for-profit financial institution, we prioritize our members’ interests. We work to return surplus income to our members in the form of higher dividends, better rates on loans, and low fees. Plus, we strongly value helping our neighbors in the community and our hometown heroes. 

Did you know that we offer Free Business Checking? No more paying unnecessary monthly fees and no minimum balance requirement, so that money you save can go right back into your business! (Psst, you can also add a joint business account holder to your account.) Plus, you’ll have Online & Mobile Banking, digital wallet services, and access to 20,000 fee-free ATMs nationwide. 

We also offer a Business Visa^® Platinum credit card with no annual fee and great low rates. Additionally, we offer business savings accounts and business loans for commercial real estate & construction and commercial vehicle & business equipment with checklists to help you get started. Any of our business advisors will be happy to help you every step of the way.