After a long period of planning and hard work, you’ve finally turned your dream of starting a small business into reality. As many business owners soon recognize, however, the launch is just the beginning of their entrepreneurship journey. Once you’re open for business, it’s time to start thinking about how to grow and scale your company for longer-term success.

Ohio is considered one of the best states to start a business according to Forbes Advisor, with a 13% increase in the amount of small businesses across the state and a 76% rate of survival.

“Ohio business owners are passionate about the products and services they offer and excel at identifying and addressing customer needs. However, managing a business requires you to be a life-long learner,” said Laura Gibbons, Chase Business Banking Market Manager in Cleveland. “By leaning on a team of trusted advisors, you can gain the tools and resources necessary to take your business to the next level.”

Get started with these four steps:

  1. Secure additional financing. Future financing plans could include applying for more
    loans, grants or investor funding. It’s helpful to build a strong relationship with a bank you trust, which will play a critical role in supporting your small business’ growth, as well as connect you to other resources.
  2. Streamline operations. Investing now in operations processes could pay off in the long run, such as using digital tools to simplify and automate processes like invoicing, approvals and payments. You can move money faster with real-time payments, which can improve your cash flow while minimizing the risk of fraud.
  3. Build your team. While many small businesses are solo operations, adding team
    members to manage the workload can help make your business run more smoothly. If you already have an accountant or bookkeeper, build from there and add other
    employees who have the industry expertise to help put your business on the path for lasting success.
  4. Expand your network. You’ll need advisors, consultants and experts who have seen it all, or who know someone who has. Spend time identifying events, like trade shows and expos, informational sessions, and networking receptions with buyers and potential suppliers, as well as programs you may qualify for that offer additional support. Making these connections can also open your business to new customers. JPMorganChase offers a complimentary one-on-one Coaching for Impact program that will be expanding and in 38 cities by the end of this year, featuring Certified Small Business Consultants to mentor and coach small business owners so they can better run their business. As of the end of 2023, the program has helped over 5,000 businesses grow.

The operations and methods you used to get your business started may not be the same ones you need to scale it. Focusing on your future and investing in your facilities, teams and processes can get your organization oriented toward growth and help minimize business interruptions down the road.

For more tips and resources to help you grow your small business, visit chase.com/business and chase.com/business/coaching-for-impact.
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For informational/educational purposes only: Views and strategies described on this article or provided via links may not be appropriate for everyone and are not intended as specific advice/recommendation for any business. Information has been obtained from sources believed to be reliable, but JPMorgan Chase & Co. or its affiliates and/or subsidiaries do not warrant its completeness or accuracy. The material is not intended to provide legal, tax, or financial advice or to indicate the availability or suitability of any JPMorgan Chase Bank, N.A. product or service. You should carefully consider your needs and objectives before making any decisions and consult the appropriate professional(s). Outlooks and past performance are not guarantees of future results. JPMorgan Chase & Co. and its affiliates are not responsible for, and do not provide or endorse third party products, services, or other content. Deposit products provided JPMorgan Chase Bank, N.A. Member FDIC. Equal Opportunity Lender.

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