Starting your own business can be both an exciting and scary endeavor. Not only will you need passion and perseverance to weather the ups and downs, but you’ll need to be prepared well in advance of putting up that Open Sign if you want to make it in the long run. If you are thinking about starting your own business here’s what you need to know to get started. Continue reading “Starting a business? Here’s what you need to know”
One of the best things about the holiday season is the traditional recipes that have been made year after year and passed down from generation to generation. Here are some of our family favorites here at Litchfield Bancorp. We hope you enjoy them as much as we do. Happy Holiday!
If you haven’t heard about National Preparedness Month, which was started in 2004, now it the perfect time to learn about it and implement some of the key principles within your business. Even though the whole month of September is designated as National Preparedness Month, that doesn’t mean you should only revisit your emergency plans at that time, it’s a yearlong endeavor that takes some organization and teamwork. Even with warnings from the news and weather channels, you still never truly know when disaster will strike and the severity of the situation. Continue reading “September is National Preparedness Month. How is your business preparing?”
Whether you are a business owner, a salesperson, or a customer service representative, you’ve probably figured out that people hear, speak, and understand information very differently. Not surprising since every person is unique, BUT even though people make purchasing decisions very differently, they do it for the same reason. They either buy to gain pleasure or to avoid pain – that’s it! HOW they come to those decisions and work through the process is determined by their personality. To build those lasting relationships with customers and be able to close a sale, you must be able to read them and understand how they think and digest information. Continue reading “Want to increase your sales? Learn how to read your customer’s and their personality type”
If you are a parent who has children involved in extracurricular activities and sports, you may already be aware of the skyrocketing increase in the cost of these programs. The costs for everything from music classes, to sports, to dance has seen a 3% to 10% increase according to Backpack Index. Continue reading “Keeping up with the rising costs of Youth Activities and Sports”
It’s something no one talks about. It’s right up there on the list of taboo items you don’t mention to other people, like your annual income and amount of debt you have or your credit score. The lower it is, the less likely you are to share that number with people. But you’d probably be surprised at how many people have made mistakes and witnessed the swan dive of their credit score. The important thing is to get it fixed as quickly as possible. Continue reading “I messed up my credit. How do I fix it?”
As a business owner, providing what your customers want is vital to your business. Businesses that boast high customer satisfaction rates go above and beyond delivering their product and/or service – it’s all about the perks. For brick and mortar businesses, one of those perks is free WiFi! More and more types of businesses — from fast-food restaurants to laundromats — are investing in fast, free internet service for their customers. Continue reading “Should you offer free WiFi in your business?”
Warning: Depending on your child’s hobbies and interests, suggesting they seek employment for the Summer Break and beyond may result in glares, the silent treatment, and resistance.
Some high schoolers love the idea of working to make some extra money, while others think it’s a fate worse than death. However, summer break is a great time to enter the job market and earn money to put towards buying a car, college tuition, paying a cell phone bill, or even simply building a savings account. A job or internship can also be added to those college apps to show work experience and new skills – not to mention they may discover a passion or future career. Continue reading “Why your high school student should have a summer or part time job”
You’ve been in business for years, you’ve got a solid Profit and Loss Statement, so why is your bank asking for an updated business plan before providing you with a loan? Well, to simplify it, even though you’ve known your cousin Sharon for 30+ years, you probably wouldn’t loan her thousands of dollars without asking her what she plans to use it for, how risky a venture it is, and how she plans to pay it back. It’s kind of the same theory. Even though your company isn’t a start-up, you’ve been known in the community for years, there is still a risk for the bank in lending your business the money. Continue reading “Why your bank wants to see an updated business plan before giving you a business loan”
Emergency fund, rainy day fund, whatever you call it, it’s important to know how much money you should have set aside in case something unexpected happens. While it may be somewhat of a moving target – the golden rule has always been to have at least 3 to 6 months’ worth of expenses saved up – 6 months especially if you have a family. Continue reading “Emergency funds and how much is enough for your family”