Wisconsin River Bank with location in Sauk City and Lodi. Wisconsin River Bank offers personal and business banking services.
Wisconsin River Bank has branch locations in Sauk City and Lodi, Wisconsin. Savings, checking, mortgages and home equity Loans. Wisconsin River Bank home page.Contact information for Wisconsin River Bank based in Sauk City and Lodi, Wisconsin.
Wisconsin River Bank serves the people and businesses of Sauk, Columbia and Dane Counties.

Starting a Business

Are you an entrepreneur? Do you really want to start a business? If your answers to these questions are yes, and your desire does not disappear as you go forward researching your business opportunities, here are some "helpful hints" that will enhance your success.

Commitment. Starting a business is not easy and the single most important factor is your personal commitment. It typically takes up to five years for a new business to reach profitable levels. Initially, this means that as the business owner there are nominal returns for your efforts. You must be totally committed.

Need. Starting a business is an undertaking. First, you must review the merit of your idea. Is there a market for your product or service? You need to also analyze the potential for your market. What is the size; who are the buyers; who are your competitors; etc.

Preparation. Starting a business is much like a real estate development . . . instead of location, location, location . . . it is preparation, preparation, preparation. This involves laying out a business plan, developing financial projections, and preparing a balance sheet of income/expense statement for the first 12 months, together with projected profit and loss statements for the first five years.

Marketing. You need to know your business' competitive advantage when creating your marketing plan. What will make you unique that will bring you business? It may be low cost, service, locality, quality, or a combination of factors. Then you must communicate your uniqueness and play it to your advantage. Remember there is no such thing as ever being finished with Marketing.

Capital. It is important to also remember that the number one reason that a new business fails is lack of capital. Be sure to have in place a good source of financing; whether it is coming from your personal savings, family, financial institutions, government programs, or off balance sheet financing, such as leasing.

Team. Your team needs to include having the best staff that you can. By taking your time, you will be able to hire more and fire less. It is important to be clear about what you expect from your staff and to provide them with the appropriate tools, including educational training, computers, and mentoring. There is also a second layer to your team and that is your advisors. Choose your accountant, attorney, banker, and other consultants based on their understanding of your business' needs and goals. Your team is there to assist you in meeting the challenges of your new and growing company to make a successful business.

Remember, starting your company takes commitment, need, preparation, marketing, capital, and a good team! You will get a lot of advice along the way to starting your business. The secret is to choose what you feel is right for you. Our "advice" is to seek out successful entrepreneurs; ask them what was the key to their business' success.

Wishing you much success.


Locally owned and managed.

Locally owned and managed.


Wisconsin River Bank Residential Mortages.

Wisconsin River Bank offers Personalized Personal Banking with a Community Touch.
 

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