Product diversification is enabling Beau Ties Ltd. of Vermont to tighten its hold on a niche market.

By Matt Griffin and Catalog Success

Kenerson recommends reaching out to your local small business development center for help building a business plan and a viable strategy for your startup.

3. Build a sounding board. One of the first tasks Kenerson and Venman took was assembling an advisory board for the catalog. They sought out established businesspeople in their community who could offer advice on the startup and day-to-day running of a company. They meet with the advisory board quarterly to discuss Beau Ties’ financial outlook, as well as upcoming business plans.