Celebrating Small Businesses with SunTrust Entrepreneurship

This post was sponsored, and paid for, by SunTrust.  All opinions are my own.

Shopping small is something that is truly near and dear to my heart… so many of you have inquired about my journey to being an entrepreneur and I am honored to get to share pieces of advice about my journey in the hopes it may very well help some of you out there follow your dreams, too!

Back in 2011, November was designated was National Entrepreneurship Month… and you know I am all about the occasions and parties, SO let’s celebrate! My personal [and business] bank of choice is SunTrust, and they are all about helping small business owners succeed and assist them in navigating through their journey.

So… What made me decide to start my own business? I had left the corporate marketing world after Caroline was born and I truly missed marketing and advertising, though I was looking for the ability to be able to work from home on a more lenient work schedule. I started brainstorming with my husband Jeff about possibilities and what I wanted to do and he told me he wanted me to pursue my dreams. A few months later, I had crafted a proper business plan, put pen to paper, and started planning to open my own e-commerce children’s shop called Sugar Bit. To make it a reality, I read articles, books and asked a ton of other entrepreneurs about how they got started, advice they could offer, what they wish they knew and then got down to business.

Looking back, there are a ton of things I wish I had known about owning my own business… if I was starting all over again, I’d quickly remind myself of these three things [AKA my bits of advice]:

ONE. Successful businesses aren’t built overnight. These things take a LONG time to grow and prosper and remember not to be too hard on yourself, for there are going to be a lot of highs AND lows throughout your journey, but keep your eyes on the prize and constantly update your goals and business plan.

TWO. Stay on top of technology and your competition. As an e-commerce retailer, competitors pop up every single day so you have to pay attention to what you’re doing AND what your competitors are doing. Stand out, take a chance… ask for your customers’ opinions and help and they’ll truly offer some AMAZING advice. I’m also constantly updating our website, changing out brands, trying something new and making sure my customer experience exceeds other stores in my industry.

THREE. Make budgets and stick to them. I’m not a financial guru–thankfully my husband is–but I’ve had a ton of challenges when it came down to sticking to my Sugar Bit budgets for events, inventory, branding, etc and these “details” add up quickly. Constantly update your bank accounts, look for the best % rates from banks and lenders and never be afraid to ask questions from people who want to see you succeed.

The SunTrust Small Business Best Practices Guide is something I would absolutely recommend any and all entrepreneurs read… I’m not a newbie anymore, but the knowledge I gained from this resource definitely made me sit back and rethink components of my financial strategy for my business, and as a type-A personality, the straightforward checklist is something you’re sure to benefit from.

They offer a ton of ideas and ways to implement areas to make you more successful AND more profitable, including: Starting Your Business, Controlling Cash Flow, Increasing Profitability, Growing Your Business, Protecting Your Assets and Planning for Business Transition. CHECK IT OUT HERE.

This post was sponsored, and paid for, by SunTrust.  All opinions are my own.