Health Insurance Options to Consider For Your Small Business

July 31, 2020 by First Federal Bank

Health insurance is a benefit most workers demand from their employers. As a small business owner, you might be overwhelmed by how to provide health benefits to your employees or secure adequate coverage for yourself. But there is no reason to panic. There are plenty of options to help satisfy your health insurance needs and the needs of your...

Topics: Small Business, Entrepreneurship, Insurance

Inspiring Your Sales Force

July 20, 2020 by First Federal Bank

A motivated, invested sales force is key to getting your business off the ground and seeing it thrive. It’s your role as the leader of your company to put your team in a position to succeed, and inspiring your salespeople to achieve their best results is precisely how you can empower your business and your people.

Topics: Small Business, Entrepreneurship

Tips to Guide and Improve Your Customers’ Experience

July 15, 2020 by First Federal Bank

A customer journey is a planned path of interactions and engagements your customers will experience with your company — such as seeing your advertisements, buying their first product and liking your posts on social media. While this may sound straightforward, SalesForce explains that understanding these journeys can help you build a positive...

Topics: Small Business, Entrepreneurship, Marketing

Why You Need to Update Your Business Plan

July 10, 2020 by First Federal Bank

When you drafted your business plan, you outlined your goals and the path you’d take to achieve them. Now that your company is up and running, your business plan might not be an accurate representation of your new goals, the state of the market, or your enterprise’s worth. Your business is a living, breathing entity that is constantly changing....

Topics: Business Banking, Small Business, Financial Education, Entrepreneurship

How to Analyze Your Profit Margins

July 06, 2020 by First Federal Bank

When you’re a busy entrepreneur it can be easy to get lost in figures like expenses, sales, and earnings. However, these numbers don’t paint the whole picture of your company’s health. That’s why it’s important to understand your company’s profit margins, which show you the proportion of how much profit you’re actually earning when compared to...

Topics: Small Business, Financial Education, Entrepreneurship

Add These Business Newsletters to Your Inbox

June 08, 2020 by First Federal Bank

Want to improve the success of your business? Start by learning from other business owners and market experts. By subscribing to communications from these companies and news outlets, your email inbox will be loaded with tools to give your company a leg up.

Topics: Resources, Business Banking, Small Business, Entrepreneurship

Finance Options for Opening a Restaurant

January 07, 2020 by First Federal Bank

Whether you have an old family recipe that you feel should be shared with the world or want to try your hand in a growing industry, starting a restaurant is challenging yet rewarding experience. Setting aside the intricacies of creating menus and establishing your brand, you will need significant seed money—The Balance Small Business’s Lorri...

Topics: Small Business Lending, Small Business, Entrepreneurship

Should Personal and Small Business Banking Overlap?

December 27, 2019 by First Federal Bank

One of the most common mistakes small business owners make is failing to separate their personal and small business finances. Many owners try to process their business transactions through their personal bank accounts, but whether they do it for convenience or to help reduce expenses and bank fees, the reasons to not do it are much more...

Topics: Small Business, Entrepreneurship

How to Make a Loan Against Your Retirement Accounts

December 23, 2019 by First Federal Bank

Saving for retirement is meant to help you finance your future, improving your quality of life after your work years. The more you are able to set aside and the longer you allow that money to accrue, the more cash you’ll have to live on. Because of this, it’s recommended to defer taking funds from your retirement savings as long as possible —...

Topics: Small Business Lending, Business Banking, Small Business, Retirement, Entrepreneurship

The Cost of Hiring a New Employee

September 18, 2019 by First Federal Bank

Whether your business is growing or a departure has left a vacancy, you need to hire a new employee. While the benefit of having that person join your company is valuable, the cost of hiring them — beyond their actual salary — can add up. To ensure you’re budgeting accurately for your next round of hiring, keep all of these overlooked costs in...

Topics: Small Business, Entrepreneurship