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Add Value to SBDC Client Meetings with Industry Intelligence

Posted August 06, 2020 by Courtney Farfour

As a small business development center (SBDC) counselor, you see a wide range of entrepreneurs looking to you for guidance on how to make their dream of starting a business come true. But having in-depth knowledge on a multitude of industries can be time-consuming.

Sure, you can Google information on the industry to share with the business owner, but how do you narrow down the most important information among all of those search results? Throw into that mix the COVID-19 pandemic and providing advice to business owners just became even more challenging.

Incorporating an Industry Intelligence tool, such as Vertical IQ, into your research process allows you to work smarter by compiling relevant, up-to-date content on many different industries and local markets to help guide the small to medium-sized business (SMB) owner.

4 steps to more valuable SMB advice

Small business owners don’t have the luxury of having a team of associates to help them navigate all the ins and outs of their industry, and that is where you play a big role! Helping your SMBs to be ready to handle the hurdles that may come their direction is imperative. Here are a few specific ways Industry Intelligence can help you in your role as an SBDC counselor:

  • Become knowledgeable about the SMB’s industry by utilizing in-depth reports. Use industry-specific intelligence covering all aspects from the overall operations of the industry to the specific trends and risks associated with them. Walk through the cash flow and explore potential expenses and typical equipment purchases.
  • Provide insight about local economies. Highlight the current market conditions, local housing market, job growth, and unemployment for the area in which the SMB is conducting business.
  • Ask relevant questions. Really dig into helping the SMB to talk through all of the aspects of their industry. You may even ask questions on subjects they hadn’t thought of yet!
  • Add value with easily shareable industry content. Today’s meetings look different than they did a few months back. Generate shareable content surrounding the SMB’s industry to make your next video conference meeting more engaging.

               >> Free On-Demand Webinar: Local Economies and Why You Should Know Them

Save time and add value with Industry Intelligence

Industry Intelligence can be your lifeline as a counselor to SMBs. Being prepared with in-depth industry knowledge will allow you to immediately relate to business owners and provide guidance to their most pressing questions along their journey. And using the Industry Intelligence on Vertical IQ, including our insights on Local Economies, makes preparing for your next SMB counselling session both efficient and effective.

>> Visit https://verticaliq.com/registration-free-access/ to get started for free today!


Image credit: nesa-by-makers via Unsplash

Tags: industry knowledge, small business owner, small business, small to medium sized business, industry intelligence, smb, advisors, SBDC

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