Tap into a deep reserve of research.
If you’re not looking to the library for business information, you are missing out on a free resource that goes beyond rows of books. Libraries are adapting to community needs, and many now offer services for entrepreneurs that include online learning, research databases and business librarians to help you navigate them.
Here are three ways you can use your local library’s resources to build your business:
Get Started
Many libraries provide access to sample business plans through their databases. You can use those plans as a jumping-off place to develop your own. For example, if the idea you had is to open a cupcake shop, you can log onto the database, click on “sample business plans,” type in “bakery,” and get multiple results that focus on cupcake businesses. It’s that simple.
When it comes time to research your plan, there are databases for that as well. Libraries can help you find detailed information about both your industry and local market. The D&B Million Dollar Database, for example, is a comprehensive listing of public and private companies that might become your competitors or your customers.
There are consumer lifestyle statistics and interactive maps that will help you find information on your target demographic. Before making key decisions like choosing a location for your brick-and-mortar store, you can read custom reports that show what ZIP codes your potential customers live in, the average breakdown of how they spend their money, and what types of advertising are most effective when marketing to them.
One of the most popular databases—and one that many libraries offer—is ReferenceUSA, which consists of more than 5,000 sources of public information, all updated regularly.
Develop Your Skills
Many libraries offer free access to online learning sites like Lynda.com, so that you can take a class on SEO copywriting or watch a video on designing a website. These will allow you to learn the fundamentals on a wide variety of topics. Don’t forget about it for your employees, either. The online learning that libraries provide can be a useful tool for staff training that ranges from building teamwork to software tutorials.
Grow Your Business
Library databases are able to help some entrepreneurs research sales leads, and help others learn more about their competition. The Mergent database can help you read up on other companies. Many libraries also offer free subscriptions to national and regional newspapers that cover your competitors.
Libraries can often help you find industry-specific data that applies to forming an advertising strategy for your brand, picking which social media platform to focus on or running an online promotion. Your library might subscribe to SRDS.com, a database of the nation’s media outlets, which can help you pick the best way to get your message out.
Next time you need business help, consider stopping by your local branch. Your ace in the hole may turn out to be your library card.
