Best Practices for Managing Your Business's Social Media Accounts

November 24, 2023 by First Federal Bank
For better or for worse, your company’s social media posts can draw a lot of attention. However, a few smart practices can keep your brand looking good in the public eye. Here’s a look at what you should — and shouldn’t — do to maintain a healthy social media presence for your business:   Do include a call-to-action   Whether you’re...

Topics: Small Business

The Dos and Don'ts of Customer Retention

November 17, 2023 by First Federal Bank

A healthy business must have a thriving customer base that provides stability as a major revenue driver. In fact, Harvard Business Review found it’s easier and less costly to retain existing customers who already know your brand and your products or services than to acquire new customers. To have an effective customer retention approach, though,...

Topics: Small Business

Positioning Your Product in the Proper Market Context

November 03, 2023 by First Federal Bank

Whether you’re coming to the marketplace with a new innovation or a spin on a consumer staple, product positioning is key for success. If you know how to market your product and to whom, you’ll be in a better position to compete with and surpass your competitors.What is product positioning?Product positioning is crucial for a successful...

Topics: Small Business

How Your Business Can Prepare for the Holiday Season Now

October 20, 2023 by First Federal Bank

Before you know it, the holidays will be here. And then it’s too late! You run the risk of missing out on profits, growth, and overall holiday enjoyment if you don’t take steps now to prepare for the bustling season. With these tips, you can ready your staff and business for a successful holiday run:Create your marketing planThe holidays are a...

Topics: Small Business

What is the SBA, and What Does It Do?

October 06, 2023 by First Federal Bank

If you’ve considered starting a small business, you’ve almost certainly heard of the U.S. Small Business Administration (SBA). The SBA is one of the most useful resources for entrepreneurs and companies on the grow, and it’s been an incredible asset for countless American businesses over the past 80 years. What is the Small Business Administration?

Topics: Small Business

Be on Guard for These Common Tax Scams

September 29, 2023 by First Federal Bank

As a small business owner, it is crucial to stay vigilant against tax scams that can potentially harm your financial well-being. Fraudsters are continuously evolving their tactics, making it critical to educate yourself on common tax scams. By being aware and taking proactive measures, you can safeguard your business and personal information. In...

Topics: Small Business, Financial Education

Best Practices for Establishing a Succession Plan

August 11, 2023 by First Federal Bank

The concept of business succession is having a unique moment of public interest thanks to the popular television series. But if you run a business, the need for a succession plan is very real and important. Taking steps today to put a succession plan into place won’t just prevent drama — it’ll ensure your business is continually run by people who...

Topics: Small Business

Protect Your Business from Financial Fraud with Positive Pay

July 28, 2023 by First Federal Bank

Advanced technology spurs financial fraud. As businesses find quicker ways to optimize the payment process through automation, active fraud prevention becomes necessary. Positive Pay is a tool to help protect your business.

Topics: Business Banking, Small Business

Do You Need a Business Partner?

July 21, 2023 by First Federal Bank

Is it time to bring a partner aboard to help with your business? Shifting to a partnership will have major implications for your company, so it’s crucial to assess your business needs and know what you’re looking for in a partner before making any sort of commitment. Here are some pointers to help you think through this important decision What is...

Topics: Small Business

Common Accounting Mistakes Small Businesses Make

July 07, 2023 by First Federal Bank

Managing the way money flows into and out of your business is critical to set yourself up for long-term success. If your books aren’t balanced and in check, it can create financial and legal problems that may derail your momentum and undermine your ambitions. Being aware of some of the most common accounting mistakes small businesses make can make...

Topics: Small Business

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