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

Focus on Your Customers in 2020

June 26, 2020 by First Federal Bank

The retail industry never stops evolving, and as a business owner, it’s important to keep up with consumer habits. From putting your values at the forefront to giving your customers more ways to shop, there are plenty of ways to show your customers that you care. Here are a few strategies for adapting to what modern shoppers want from their...

Topics: Small Business, Marketing

What Are Marketing Moments That Matter?

June 22, 2020 by First Federal Bank

When it comes to marketing, there are many ways to reach your audience. Website content, social media and advertisements can all help your business succeed, but you need to make meaningful connections with customers to create a bond of brand loyalty. Consider the moments that matter in your business and what you can do to make them memorable. ...

Topics: Small Business, Marketing

Why You Should Join Professional Organizations

June 10, 2020 by First Federal Bank

After graduation, you’re probably looking at ways to save money, not spend it. So you might consider foregoing your professional organization membership or forfeiting the idea of joining one in the first place. Joining a professional organization, however, is a smart investment to advance your career.Knowledge is powerAlthough a major...

Topics: Small Business, Community, Think Local

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

Do You Need a Dress Code?

May 25, 2020 by First Federal Bank

When building a company, there are a myriad of factors to consider — including how your employees appear to customers. To give your business a more professional appearance, consider instituting a dress code to provide a set of guidelines to help your employees decide on appropriate workplace attire. Here are a few factors to help you decide if...

Topics: Small Business

We are #LocalStrong

May 15, 2020 by First Federal Bank

In early April, First Federal was challenged by another financial institution to help stimulate our local economies. Each FF employee was given $25 by the bank and challenged to spend with a local small business or non-profit, or pay it forward to an essential worker. We were so inspired by our generous and creative employees! 

Topics: Small Business, Community, Think Local

Tips to Keep Your Financial Records Well-Organized

May 08, 2020 by First Federal Bank

Keeping your financial records well-organized is important for more than fulfilling regulations or legal requirements. It also helps you better understand your business, now and in the future. Without a proper record-keeping system, it can be easy to lose track of important business details. Give your small business a better chance to survive...

Topics: Small Business

What is Business Valuation?

April 30, 2020 by First Federal Bank

A business valuation appraises the monetary value of your company. While a business valuation is an essential part of selling a company, it can be useful even if you aren’t looking to sell your small business. An accurate, up-to-date business valuation can enable you to quickly respond to an unexpected opportunity or setback. For instance, if...

Topics: Business Banking, Small Business