TOOLS & RESOURCES

Living an independent, entrepreneurial lifestyle can be one of life’s great joys. However, building a small business requires a special mindset and careful guidance to build strong and sustainable businesses.

At WESST, we have the tools to bring your business idea to reality. We provide Consulting, Training and Lending to anyone - whether you have a new product or service, want to break out on your own in your existing field, or have an innovative idea to improve existing offerings in the marketplace.

WHY WESST?

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 dedicated 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.

SHOULD YOU START A BUSINESS?

This quiz will help you evaluate whether starting a business fits well with your personality and skills.

TAKE THE QUIZ

START UP RISK CALCULATOR & START UP 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.

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BUSINESS PLANNING

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.

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BUSINESS PLANNING

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 - Whisper in the Wind (PDF)

Get a sense of what a completed business plan looks like with this fictitious company.

Sample Mission Statement (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.

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, and 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.

Start-Up/Expansion Cost Calculator (Interactive PDF)

A fillable PDF worksheet to tabulate your start-up/expansion costs.

Start-Up 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.

Note: You may need to enable editing and enable content to use the spreadsheets in Excel.

Resources for Entrepreneurs

Small Business Resources to Help You Start and Grow Your Business

Below 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.

Albuquerque Office of the Mayor

Albuquerque Economic Development Dept.

Albuquerque Independent Business Alliance (AIBA)

Albuquerque Economic Development (AED)

Black Chamber of Commerce of New Mexico

Albuquerque Hispano Chamber of Commerce

American Indian Chamber of Commerce of New Mexico

Association of Commerce & Industry of New Mexico

Greater Albuquerque Chamber of Commerce

National Association of Women Business Owners (NAWBO) Northern NM Chapter

Finance New Mexico

Albuquerque Small Business Development Center

SCORE

South Valley Economic Development Center (SVEDC)

Encuentro

Dreamspring

Elevated Lending CBC

The Loan Fund

New Mexico Networking Links

UNM Small Business Institute (SBI)

Law 4 Small Business

New Mexico TREC

New Mexico Small Business Assistance (NMSBA)

Albuquerque Office of the Mayor

505-768-3000

cabq.gov/mayor

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!

Albuquerque Economic Development (AED)

505-246-6200
abq.org

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.

American Indian Chamber of Commerce of New Mexico

505-766-9545
aiccnm.com

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.”

New Mexico Networking Links

Stacy Sacco
505-489-2311
NMNetLinks

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.

UNM Small Business Institute (SBI)

Stacy Sacco

SBI Director
Phone: (505) 489-2311
sbi@unm.edu

Angella Welcome
SBI Coordinator
Phone: (505) 277-8869
sbi@unm.edu

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.

New Mexico Small Business Assistance (NMSBA)

nmsbaprogram.org

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.