First Federal Lakewood’s “Business Boost” series offers insight
By Terry Troy
Local small business owners can access on-demand business and management advice to help them deal with burnout, prevent cybersecurity hacks, develop sound business plans, and more. The advice, shared via online video, is part of First Federal Lakewood’s Business Boost series, a program that provides time-strapped small business owners and entrepreneurs with expert insight from trusted peers.
“Our business customers have vast expertise that can benefit other small business owners with managing and growing their businesses,” said Kurt Kappa, chief lending officer. “We weren’t surprised to find that these experts were ready and willing to share advice on many aspects of achieving success.”
One of those willing experts is Joe Spooner, president of Spooner Inc., a Westlake-based labor relations and HR consulting firm.
“Every service we offer starts with a client asking us to help them solve a problem,” Spooner said. “So, when First Federal Lakewood approached us with this opportunity, we were happy to share some expertise in the HR field — which can be such a maze for many employers.”
Launched last year, Business Boost tackles a range of topics relevant to small business owners, such as starting a digital marketing campaign; asking the right questions when talking to your insurance advisor; and how cash flow management can make – or break – your business.
“We know that small business owners are juggling many responsibilities at once, and their work doesn’t always end at 5 pm every day,” Kappa said. “Which is why we make sure that these videos are available 24/7, so they can always have access to the information that they need on their own time.”
First Federal Lakewood recently added to the collection of resources with additional topics including how to deal with burnout, addressing cybersecurity concerns, developing business plans to secure lending and bring in investors, and tips for managing human resources.
“The local experts working with us have really brought a sense of community spirit and cooperation to this project,” said Kappa. “They share First Federal Lakewood’s commitment to seeing local businesses grow and thrive which has made Business Boost a win-win for everyone involved.”
The Business Boost video series will help any entrepreneur as they look for information on different areas of their business that they may not have expert knowledge in, such as IT security or the right insurance they need, added Kappa.
“There is a video in the series on marketing to give advice on a business’s digital brand presence,” he added.
With topics on cashflow management, accounting, human resources and leadership, the goal of the series is to provide a resource to any business, whether B2B or B2C, with the fundamental knowledge to build their businesses.
“We intentionally picked topics that many new or smaller businesses might not have an in-house resource—such as HR,” said Kappa. “A business can watch these videos to get advice on the top considerations they should make sure to have in place as they work to grow their business.
There is also a video in the series from the director of the Lorain County Small Business Development Center on how to create a business plan.
“As a mutual bank, our mission is to help local communities grow and prosper,” said Kappa. “By providing small businesses with resource to help them be successful, it works to make all of our communities great places to work and live.”
First Federal Lakewood is the largest independent depositor-owned bank headquartered in Ohio with assets of $2 billion. With 20 full-service branch locations and 9 mortgage lending offices throughout Ohio, First Federal Lakewood provides deposit, commercial lending, residential mortgage lending, cash management and investment services to individuals and businesses.