At WESST, we have developed a process for helping our clients truly understand what it takes to start, grow and build a thriving, sustainable business. We start with "strategy first, tools second" to help our clients implement financial, marketing and organizational systems that support the entrepreneur AND the business. Our talented employees undergo a rigorous hiring process in order to provide only the best business advisors and trainers. Our employees are 100% committed to providing the best opportunities for our clients to succeed.
WESST staff are all committed to our Mission, Vision and Values and will work with anyone who is committed to the process of exploring, developing and living entrepreneurship. We work with clients at every stage of business from pre-venture to mature, from 1 to 100 (or more) employees and can provide business consulting, training, lending, incubation and digital media production.
If you already have an existing business, please learn more about how WESST can help you by exploring:
- Training Schedule
- Business Consulting Services
- Business Loan Program(s)
- Business Incubator in Albuquerque
- Comcast Digital Media Studio at WESST
Explore these resources:
Quiz: Should You Start A Business?
Even if you have an existing business, this quiz will help you evaluate whether starting a business fits well with your personality and skills.
Thinking through your business idea carefully and putting together a solid business plan is essential for every entrepreneur. This is true whether or not you need to raise money to start up your business—even if you don’t need to approach a bank or other lender, putting your business plan into writing is a key step in the path to success. Here you’ll find a sample business plan, a detailed outline, and several worksheets to walk you through this vital process.
Free Tools: Startup Risk Calculator; and a Startup Valuation Calculator
These free easy-to-use Crowdfunding Tools from EquityNet* are designed to help companies less than four years old analyze valuate their businesses before they engage investors. Both tools are based on the company’s patented Enterprise Analyzer™ technology. The Startup Risk Calculator helps entrepreneurs better understand their business risk and improve their odds of business success. The Startup Valuation Calculator helps entrepreneurs estimate, compare, and better understand their business valuation.
*EquityNet recently received a perfect 5-star rating by Crowdfunding Website Reviews. The independent review rated EquityNet as the number one crowdfunding support service website. The company has been recognized by Forbes, Entrepreneur Magazine, Bloomberg, Worth Magazine, CNET, and other journals as the inventor and pioneer of equity crowdfunding.
SBA Resource Partners Disaster Preparedness, Response, and Recovery Guide
Is designed as a working guide that will direct you through the steps as you consider how to proceed post-disaster and a planning guide before any disaster.
It can also be used in conjunction with your local NMSBDC Advisor or SBA Resource Partner, who is ready to help you walk through all of the steps. Or, if you choose not to work with an advisor, it is set up so you can do the steps by yourself.
We will introduce you to the Four-Stage Disaster Management Model and guide you through the various steps in preparation for any disaster and subsequent follow up.
We wish you well through this process.
Business Plan Tools and Examples
Thinking through your business idea carefully and putting together a solid business plan can be an essential exercise for any entrepreneur. This is true whether or not you need to raise money to start up your business—even if you don’t need to approach a financial institution or other lender, putting your business plan into writing is a key step on the path to success.
Despite what many people think, business plans do not need to be complicated or intimidating, and many of the exercises and activities undertaken as part of the planning process can be important steps to financial self-sufficiency regardless of how close you are to starting a business. To help you, WESST offers a business plan template and a sample business plan, both downloadable from this page. Feel free to adapt the template to suit your own unique business needs.
Business Plan Outline (PDF)
A great business plan outline that provides a guide for information that you will need in order to start and grow your business. This outline can be used as part of WESST’s loan application process.
Sample Business Plan – Whispers in the Wind (PDF)
Get a sense of what a completed business plan looks like with this fictitious company.
Sample Mission Statements (PDF)
Every business should have a mission statement that provides a focus and direction for the company. It serves multiple purposes for the business like including it in your plan and posting it in your business so clients/customers know what your business mission is.
Goal Setting Worksheet (PDF)
A quick one-page worksheet to get you started thinking about your business.
Understanding Your Market
Industry Analysis Worksheet (PDF)
A quick worksheet to help you start analyzing your industry.
Marketing and Promotion Worksheet (PDF)
This worksheet helps you start thinking about your promotional strategy.
Marketing Methods Worksheet (PDF)
A sampling of marketing methods you can employ to promote your product or service.
Defining Your Product
Product Analysis Worksheet (PDF)
A one-page worksheet that helps you really start narrowing in on what makes your product/service absolutely unique. Why would someone buy from you instead of your competitor? This is key information for your marketing strategy.
Pricing Worksheet (PDF)
This worksheet walks you through key price modeling, including break-even analysis.
Managing Your Finances
You may need to enable editing and enable content to use the spreadsheets in Excel.
Financial Statements Template (xls file)
A multiple tabbed spreadsheet that allows you to create pro-forma (projections) financial statements including Profit and Loss, Balance Sheet, Cash Flow Analysis
Multiple Product Break-Even Calculator (xls file)
This break-even model takes the Pricing Worksheet (above) to another level. Calculate your break-even analysis using four different products (or services). Instructions included in the workbook.
Startup/Expansion Cost Calculator (Interactive PDF)
A fillable PDF worksheet to tabulate your start-up/expansion costs.
Startup Risk and Startup Valuation Calculators (via EquityNet)
Gives a benchmark for start-up risk and valuation (you will be leaving the WESST website). Provided for informational purposes only. Always consult a CPA for actual valuation or start-up risk evaluations.
Resources for Entrepreneurs
Small Business Resources to Help You Start and Grow Your Business
This is a growing list of local and national resources for entrepreneurs and small businesses. Bookmark this page for future reference.
Gross Receipts Tax rates change every six months. Please review the Tax Rate table every December and June. See the updated NM Taxation & Revenue Tax Rate table.
Whether you are thinking about moving to Albuquerque to start a business or you are an outstanding local business looking to take that next step, Albuquerque has everything you need!
The City of Albuquerque’s Economic Development Department (EDD) works to create, diversify, and enhance job growth and to promote business development and stability. EDD supports business and the development community within city government and between city agencies.
AED is a private, nonprofit organization whose mission is to recruit business and industry, help local companies grow and generate quality job opportunities in the Albuquerque metro area. AED provides confidential assistance to businesses considering the area for expansion and new investment. Since its creation in 1960, AED has recruited more than 200 companies and 25,000 jobs to the Albuquerque metro area.
The African American Chamber’s mission is to develop and empower economic opportunities with a focus on Black Owned Businesses in the Greater Albuquerque Communities. We promote economic growth of our Black Owned Businesses through education/training, networking, advocacy and mentorship.
The AHCC is organized to promote economic development, to enhance economic development opportunities and to provide business and workforce education with an emphasis on the Hispanic and Small Business Community in Albuquerque and New Mexico.
Our vision at the Chamber continually promotes the development of a healthy, self-sufficient American Indian Economy, both on and off the reservation. Our mission is both simple and powerful: “To help Native People achieve successful economic development initiatives while incorporating, strengthening and building upon Tribal Values.”
ACI’s mission is to enrich the lives and prosperity of New Mexicans through a vibrant business climate built by effective advocacy and education.
The Greater Albuquerque Chamber of Commerce works every day to make our community a place where businesses can grow and prosper and where people want to raise their families.
NAWBO provides a variety of opportunities for members to participate in our chapter life and encourage their active involvement in our committees. Our primary goals are to enable members to improve their leadership skills by applying their unique talents and interests to serve our members.
Since 2007, the Finance New Mexico project has delivered business knowledge and resources to New Mexico entrepreneurs seeking to start or grow a business.
The Albuquerque Small Business Development Center (SBDC) is a grass roots economic development organization providing valuable assistance to owners of small businesses and to individuals considering starting a business in Albuquerque, Bernalillo County, and the East Mountains.
As highly successful and experienced business professionals and entrepreneurs, SCORE mentors deliver valuable, timely, and practical advice. Whether you are a start-up or an existing business, our mentors will help you and your business open new markets, reach new customers, and achieve new goals.
The South Valley Economic Development Center provides facilities, resources and training for new and expanding small businesses, with an eye to job creation and fostering the economic revitalization of the South Valley community.
Since inception in 2010 Encuentro’s focus has been to provide the Latino immigrant community with top quality adult education programs in a welcoming and culturally accessible environment.
An award-winning 501(c)(3) nonprofit organization that increases access to business credit, makes loans and provides training, which enable emerging entrepreneurs to realize their dreams and be catalysts for positive economic and social change.
Enchantment Land Certified Development Company (ELCDC) is a leading private, non-profit organization financing business loans throughout New Mexico and El Paso, Texas.
The Loan Fund is a nonprofit community lending institution. We provide loans, as well as training and consulting services, to small businesses, entrepreneurs and nonprofit organizations in New Mexico that are typically unable to obtain financing through traditional lending sources.
New Mexico Networking Links (aka NMNetLinks) to make a positive difference in the local community and help foster economic development in New Mexico. The site features several lists with nearly 2,000 links to numerous business organizations, educational institutions, government agencies and other resources to meet the needs of the following population segments:
- Job hunters seeking employment in marketing-related jobs including advertising, communications public relations, fund-raising and development, meeting planning and sales.
- New New Mexicans who recently relocated or are planning to move here in the near future.
- Small Business Owners wanting to expand their network to grow their business.
The UNM Small Business Institute (SBI) at Anderson provides consulting work for local businesses by linking them with graduate and undergraduate students who are guided by members of the faculty. These mutually beneficial partnerships simultaneously offer students the opportunity to experience real life challenges while providing businesses with management assistance, expertise and guidance at an affordable rate of $500 per project.
Law 4 Small Business
Law 4 Small Business is all about helping small businesses navigate and avoid difficult problems. Their focus is also on helping new entrepreneurs get new businesses off the ground and assisting existing businesses in remaining safe and protected as they grow.
TREC is focused on connecting the intellectual capital of Sandia and other lab retirees to provide technical assistance to small businesses and start-ups. We are hosted by WESST and are available to meet with any business or start-up to help them solve technical issues they may encounter in the development of their product or service.
The New Mexico Small Business Assistance (NMSBA) Program provides New Mexico small businesses facing technical challenges access to the unique expertise and capabilities of Los Alamos and Sandia national laboratories. At no cost to the business, small businesses can seek assistance from lab scientists and engineers to solve challenges and overcome barriers to company success.
Through the NMSBA Program, companies can access critical expertise, provided by select contractors to address business and manufacturing challenges. Through NMSBA, current contract opportunities include assistance from New Mexico Manufacturing Extension Partnership, University of New Mexico, New Mexico Institute of Mining and Technology, or New Mexico State University.