SMALL BUSINESS ROADMAP

All businesses—big or small—cycle through stages on their journey toward profitability. With this roadmap, entrepreneurs can prepare for important milestones by receiving guidance on how to begin, what decisions need to be made, and how to implement them. We’ve also included an “Essential Business Resources” key that matches the Gale resources built to support each stage of business developmen

IDEATE

Envision a product or service that’s unique and fulfills a need or solves a problem. Additionally, self-reflect to ensure you have what it takes to start a new business. 

  • Small business resources for IDEATION

    GALE BUSINESS: PLAN BUILDER

    Offers step-by-step guidance for starting, managing, and optimizing a business or nonprofit. The intuitive dashboard walks users through five areas of exploration in order to develop a plan focused on long-term success. Includes integrated access to Gale Business: Entrepreneurship, Gale Business: DemographicsNow, and Gale LegalForms for libraries subscribing to any of these resources.

    GALE eBOOKS

    Offers unlimited, simultaneous access to eBooks on the GVRL platform that can help lead entrepreneurs and small business owners down the right path.

    GALE BUSINESS: ENTREPRENEURSHIP

    Maps to the four key stages of business: plan, fund, start, and manage. This resource covers all major areas of starting and operating a business and includes nearly 1,000 sample business plans.

RESEARCH TARGET MARKETS & COMPETITION

Thoroughly research your market. Examine the industry and trends, research potential customers and their buying habits, and identify the competition.

  • Resources

    GALE BUSINESS: PLAN BUILDER

    Offers step-by-step guidance for starting, managing, and optimizing a business or nonprofit. The intuitive dashboard walks users through five areas of exploration in order to develop a plan focused on long-term success. Includes integrated access to Gale Business: Entrepreneurship, Gale Business: DemographicsNow, and Gale LegalForms for libraries subscribing to any of these resources.

    GALE DIRECTORY LIBRARY

    Provides businesses and nonprofits with authoritative digital directories used for gathering competitive intelligence, targeting specific markets, or researching individual entitie

DEVELOP A BUSINESS MODEL

Create a business model and test it. On paper, build the high-level framework that your business will operate in. Test the model by determining when the business will be able to cover expenses and realize a profi

  • Resources

    GALE BUSINESS: PLAN BUILDER

    Offers step-by-step guidance for starting, managing, and optimizing a business or nonprofit. The intuitive dashboard walks users through five areas of exploration in order to develop a plan focused on long-term success. Includes integrated access to Gale Business: Entrepreneurship, Gale Business: DemographicsNow, and Gale LegalForms for libraries subscribing to any of these resources.

    GALE DIRECTORY LIBRARY

    Provides businesses and nonprofits with authoritative digital directories used for gathering competitive intelligence, targeting specific markets, or researching individual entitie

STRUCTURE THE BUSINESS

Sole proprietorship, partnership, or corporation? Research which one best suits your needs and move forward with registering your business or corporation

  • Resources

    GALE LEGALFORMS

    Helps users understand common legal procedures and handle their legal affairs through access to thousands of authentic, customizable legal documents.

    GALE BUSINESS: ENTREPRENEURSHIP

    Maps to the four key stages of business: plan, fund, start, and manage. This resource covers all major areas of starting and operating a business and includes nearly 1,000 sample business plans.

ASSESS FUNDING OPPORTUNITIES

Whether raising capital for startup or expansion, your options include self-funding, equity (angel and venture), debt (loans from financial institutions), and crowdfunding to help assemble the appropriate balance of funds needed for your business.

  • Resources

    GALE BUSINESS: ENTREPRENEURSHIP

    Maps to the four key stages of business: plan, fund, start, and manage. This resource covers all major areas of starting and operating a business and includes nearly 1,000 sample business plans.

IMPLEMENT A BUSINESS PLAN

Define the strategies and goals of your business and how you will operate it profitably. This living document should be updated as needed and will answer many of the questions banks or investors will ask.

  • Resources

    GALE BUSINESS: PLAN BUILDER

    Offers step-by-step guidance for starting, managing, and optimizing a business or nonprofit. The intuitive dashboard walks users through five areas of exploration in order to develop a plan focused on long-term success. Includes integrated access to Gale Business: Entrepreneurship, Gale Business: DemographicsNow, and Gale LegalForms for libraries subscribing to any of these resources.

    GALE eBOOKS

    Offers unlimited, simultaneous access to eBooks on the GVRL platform that can help lead entrepreneurs and small business owners down the right path.

    GALE BUSINESS: ENTREPRENEURSHIP

    Maps to the four key stages of business: plan, fund, start, and manage. This resource covers all major areas of starting and operating a business and includes nearly 1,000 sample business plans.

BUSINESS LICENSES, INSURANCE & OTHER REGULATIONS

Make sure your business is operating legally. It is advisable to seek legal counsel and authoritative resources.

  • Resources

    GALE LEGALFORMS

    Helps users understand common legal procedures and handle their legal affairs through access to thousands of authentic, customizable legal documents.

    GALE BUSINESS: ENTREPRENEURSHIP

    Maps to the four key stages of business: plan, fund, start, and manage. This resource covers all major areas of starting and operating a business and includes nearly 1,000 sample business plans.

CREATE BRAND IDENTITY

Plan your marketing strategy. Figure out what differentiates you and capitalize on it.

  • Resources

    GALE LEGALFORMS

    Helps users understand common legal procedures and handle their legal affairs through access to thousands of authentic, customizable legal documents.

    GALE BUSINESS: ENTREPRENEURSHIP

    Maps to the four key stages of business: plan, fund, start, and manage. This resource covers all major areas of starting and operating a business and includes nearly 1,000 sample business plans.

REFINE, MATURE & INNOVATE

Your business plan must evolve. Recognize what worked and what did not. Pay attention to your executive statements, which will inform your decisions about new opportunities.

  • Resources

    Gale Business: DemographicsNow

    This powerful online resource provides users with actionable demographic, company, and residential data in targeted geographic locations to support market research and business planning activities.

    Learn more

    GALE BUSINESS: PLAN BUILDER

    Offers step-by-step guidance for starting, managing, and optimizing a business or nonprofit. The intuitive dashboard walks users through five areas of exploration in order to develop a plan focused on long-term success. Includes integrated access to Gale Business: Entrepreneurship, Gale Business: DemographicsNow, and Gale LegalForms for libraries subscribing to any of these resources.

    GALE eBOOKS

    Offers unlimited, simultaneous access to eBooks on the GVRL platform that can help lead entrepreneurs and small business owners down the right path.

    GALE BUSINESS: ENTREPRENEURSHIP

    Maps to the four key stages of business: plan, fund, start, and manage. This resource covers all major areas of starting and operating a business and includes nearly 1,000 sample business plans.