Category Archives: Business Advice

Mid‑year Check-in: Keeping Your Small Business on Track

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As the year reaches its halfway point, it’s the perfect time for small business owners to take a step back and assess where things stand so far. A mid-year check-in is a powerful strategy to realign your goals, improve operations, and finish the year strong.

Here are five essential tips to help guide your mid-year business review:

1. Reevaluate Your Goals and Key Performance Indicators (KPIs)

Remember those big goals for your business you set at the start of the year? Now’s the time to ask:

  • What progress have you made so far?
  • Are your current targets still relevant?
  • What adjustments are needed to hit your year-end objectives?

Whether you’re ahead of schedule or need to pivot, revisiting your KPIs ensures that you stay focused and aligned with your vision.

2. Assess Your Financial Health

Strong financials are the backbone of any successful business. Now is a good time to take a deep dive into:

  • Cash flow: Are you consistently in the black?
  • Expenses: What recurring costs can you reduce or eliminate?
  • Profitability: Are your margins improving, and what can you optimize?

Analyze the numbers – identifying small adjustments now, can lead to major improvements by year-end.

3. Check-in with Your Team

Your team plays a crucial role in executing the vision. Use mid-year as an opportunity to:

  • Have one-on-one conversations to understand team needs and goals.
  • Gather feedback on processes, tools, and workload.
  • Recognize accomplishments and plan for professional development.

A motivated, aligned team will always outperform a disengaged one.

4. Review Your Tools and Systems

Technology should be working for you, not against you. Ask yourself:

  • Are there any tools slowing your team down?
  • Could automation or new systems increase productivity?
  • Are your invoicing, payroll, or inventory processes efficient?

Even minor tech upgrades can save time, cut costs, and improve the customer experience.

5. Measure Customer Satisfaction and Retention

Happy customers are the key to long-term success, and mid-year is a great time to find out how well you’re meeting their expectations.

  • Look at customer retention, repeat purchases, and feedback.
  • Analyze survey responses, support tickets, and online reviews.
  • Use this information to improve your service and offerings.

Use these insights to fine-tune your approach and ensure your customers stick with you through the rest of the year and beyond.

A mid-year check-in is more than a to-do item on a checklist. It’s your chance to reset, refocus, and finish the year with purpose. Learn more about how First Financial can help support your small business by emailing us at business@firstffcu.com and checking out our small business services.

Heat Up Your Small Business Marketing This Summer

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As temperatures rise, so should your marketing efforts. Summer presents an excellent opportunity for small businesses to boost visibility, build community connections, and drive seasonal sales. From refreshed branding to local partnerships, now is the time to get creative with your marketing strategy. Here are seven effective ways to turn up the heat on your marketing this summer.

1. Get Involved in Local Summer Events

Summer is packed with community festivals, outdoor concerts, markets, and parades – making it the perfect season to amplify your brand’s local presence. Whether you sponsor a local event, set up a vendor booth, or simply volunteer your services – showing up for your community builds trust and increases visibility. Be sure to promote your participation on social media, in your email newsletter, and with signage or print ads. Event involvement gets your name in front of more people while creating content opportunities you can use all season long.

2. Collaborate with Other Local Businesses

Nothing says summer like community, and that includes local business partnerships. Team up with complementary businesses in your area to launch co-branded promotions, bundle deals, or offer seasonal giveaways. You’ll increase your exposure to new audiences while reinforcing local connections that customers value. For example, a gym could partner with a smoothie shop for a “sweat and sip” deal, or a bookstore and coffee shop could offer joint loyalty discounts. Think creatively and lean into what your community loves most during the warmer months.

3. Tap into Wedding Season

Between May and September, wedding season is in full force and the marketing opportunities are endless. Even if your business doesn’t fall directly into the wedding industry, there’s likely a way to get involved. Promote custom gifts, beauty products, catering, rehearsal dinner spaces, dessert options, and more. Market services to the bridal party or newlyweds – such as florals, financing, or travel planning. Tailor your messaging to speak to this massive audience, including wedding guests looking for last-minute accessories, gift ideas, or travel accommodations. Any business can also offer small discounts to newlyweds and/or bridal parties.

4. Refresh Your Ad Designs for Summer

Give your advertising a seasonal facelift by incorporating summer themes into your visuals and messaging. Bright colors, sunny imagery, and seasonal motifs like beaches, fruit, or backyard barbecues can help your ads feel fresh and relevant. If you’ve been running the same creative for months, this is a great time to re-engage customers who may have started to tune it out. A simple refresh can make your business feel more vibrant and top-of-mind.

5. Give Your Social Media a Seasonal Makeover

Update your profile banners, imagery, and content calendar to reflect the fun and relaxed tone of summer. Whether you’re using tropical color palettes, summer puns, or photos of your products outdoors – embrace the vibe of the season to strengthen emotional connections with your audience. Don’t forget to adjust your posting schedule for summer habits. People tend to scroll more in the mornings or evenings, so time your posts accordingly – and consider batching content in advance to keep up with vacation schedules.

6. Launch a Summer Contest or Sweepstakes

Rather than cutting prices during a peak sales season, consider running a contest or giveaway to boost engagement and incentivize purchases. For example, customers who spend over a certain amount and follow your social channels would be entered to win a grand prize revealed at the end of the summer. This boosts sales during busy months, while helping you gather leads and keep customers engaged as the season winds down.

7. Don’t Overlook Back-to-School Marketing

When summer draws to a close, smart businesses start shifting their focus to back-to-school needs. The best part? Nearly every business can find a relevant angle. Cafés can offer grab-and-go breakfast deals or boxed lunches. Fitness studios can promote classes designed to help parents decompress. Tailors can market uniform alterations. Whatever your niche, look for creative ways to support families preparing for the fall.

Fuel Your Business Growth with First Financial

First Financial is here to help your small business succeed. From business checking accounts to newsletters and virtual retirement planning seminars, we offer the resources you need to grow through every season. To learn more about our business services or to speak with a representative, visit your local branch. Don’t forget to subscribe to the First Scoop Blog for more expert tips on financial wellness and small business success!

How Small Businesses Can Make a Difference This Earth Day

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While environmental challenges like climate change and pollution may seem overwhelming, every business — big or small, has the power to make a positive impact. With Earth Day on the horizon, now is a great time for business owners to evaluate their operations and implement small changes that will make a big difference.

At First Financial, we believe sustainable business practices aren’t just good for the planet, they’re also smart for your bottom line. Here are a few easy ways your business can go green this Earth Day.

1. Rethink Your Waste Habits

Start by taking a closer look at what your business throws away. Whether packaging, breakroom or food waste, reducing how much ends up in the trash can significantly lower your company’s carbon footprint. Encourage employees to recycle properly, set up clearly labeled bins around the workplace – and evaluate how often supplies are tossed when they could be reused or repurposed. Every item that gets recycled instead of landfilled counts.

2. Recycle Old Electronics and Office Equipment

E-waste is one of the fastest growing types of waste, and businesses can play a role in keeping it out of landfills. Instead of tossing old electronics, look for certified recycling programs or donation centers that take items like computers, printers, and monitors. Recycling electronics responsibly helps conserve valuable resources and keeps toxic materials from polluting the environment.

3. Go Paperless Where You Can

Cutting down on paper is a win-win for the environment and your business. Digital documents and cloud storage can reduce clutter, lower supply costs, and streamline collaboration. If your operations allow it – switch to paperless invoicing, emailed receipts, digital forms, and online customer communications. It’s a small shift that can have a lasting impact.

4. Choose Greener Packaging

Switching to biodegradable or recycled packaging materials is a meaningful step. Consider materials like plant-based plastics or recycled paper that decompose naturally and reduce your environmental footprint. Many customers also appreciate and support eco-conscious packaging choices, which can boost your brand’s image.

5. Power Down to Save Energy

Leaving electronics running when not in use, leads to unnecessary energy waste and higher utility bills. Turn off lights and equipment at the end of the day, and consider smart surge protectors that automatically cut power to unused devices. If available, enable power-saving settings on computers and other office electronics to minimize energy usage during idle times.

6. Upgrade to LED Lighting

Lighting may not seem like a big issue, but it’s one of the easiest places to save energy. Switching from incandescent bulbs to energy-efficient LED bulbs can reduce electricity use by up to 75% and these bulbs also last significantly longer. Take it a step further by installing motion sensors in lesser-used areas like restrooms or storage rooms to ensure lights are only on when needed.

7. Make Energy-Efficient Building Improvements

Commercial buildings contribute significantly to carbon emissions, but simple improvements can lower your impact. Try:

  • Sealing windows and doors to prevent energy leaks.
  • Using blinds or shades to regulate indoor temperatures.
  • Upgrading insulation to reduce heating and cooling needs.
  • As old light bulbs need to be changed, switch to energy-efficient lighting.

Ready to make an even bigger change? Consider renewable energy options like installing solar panels or energy management software that adjusts usage based on building activity.

Start Small, Think Big

Every environmentally conscious decision you make — no matter how big or small, can lead to significant results over time. As a business owner, your choices set the tone for your team and customers.

At First Financial, we’re proud to support small businesses in building stronger, more sustainable futures. For more tips on business banking and smart financial solutions, call us at 732.312.1500 or visit your local branch. Don’t forget to subscribe to our First Scoop Blog for ongoing resources and ideas.

Celebrating Women in Business: Advice from Successful Female Entrepreneurs

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More than 12 million women-owned businesses operate nationwide, driving innovation and economic growth. March is Women’s History Month, and First Financial is celebrating women in business by sharing valuable insights from successful female entrepreneurs. We are highlighting some impactful advice from Constant Contact’s article, “9 Successful Women Entrepreneurs Share Their Best Business Advice for Women,” that just might resonate with some of our readers.

If you’re a female small business owner or you’re looking to get started, take these lessons to heart as you grow your company. Remember, First Financial is here to support you with business banking solutions, investment and retirement guidance, financial education and more.

1. “No one is going to believe in you like you do.”– Latasha McRae, Peeks Cosmetics

Latasha McRae, founder of Peeks Cosmetics, knows firsthand that self-belief is key to success. Inspired by her mother’s perseverance in raising her family while battling Lupus, Latasha was determined to create her own path.

One of her biggest challenges was knowing who to work with and who aligned with her brand. Her advice? “Use discernment when dealing with anything in life. Take your time, do your research.” Trust yourself, do your due diligence, and always be your own biggest advocate.

2. “I hope to see more and more women in small business and big business, whatever area or arena they’re looking to get into, just step up as they are.”– Julianna Curtis, The Energy Barre

Julianna Curtis, founder of The Energy Barre, recalls moments of self-doubt and struggling to balance confidence with authenticity when speaking with clients and partners. Her journey led her to embrace her true self: “I am who I am. Confident to stand next to any male or female counterpart because I am talented, I am aware, I am informed, and I know what I’m coming here for.”

No matter where you are in your journey, take time to discover your unique leadership style and step into your role with confidence.

3. “Figure out what your brand values and messaging are, and stay true to them in everything you do.”– Nicole, Jennifer, and Colette, Lime Ricki

Sisters and co-founders of Lime Ricki, a boutique swimwear brand, credit their success to staying true to their brand’s values. Nicole, Jennifer, and Colette shared that having a strong foundation has helped them navigate challenges and make clear decisions without second-guessing. “This allows us to respond rather than react to issues and challenges that arise and gives us a foundation for making decisions and directing our course of action.”

Their advice applies to marketing as well: “Consistent, relevant messaging and email marketing that maintains our brand and core values,” has been their most effective tool for driving sales. Knowing your values keeps you grounded and gives you a solid road to follow — especially in competitive industries.

4. “Remind yourself there is always room in the market for you in whichever industry you pursue.”– Marissa Tilley, Lady Black Tie

Starting a business can be intimidating, especially when entering a saturated market. When Marissa Tilley launched Lady Black Tie in 2018, the formalwear space was already filled with established brands. But rather than let that discourage her, she found ways to bring something new to the industry. “Don’t let the brands that have been around longer than you intimidate you and keep you from starting. If anything, use this competition as motivation, and recognize that you can bring a fresh perspective and new ideas to your industry.”

If you’re a new business owner, focus on the unique value you bring and remain to adapt to trends and customer preferences. Just because you weren’t the first, doesn’t mean you can’t be successful – it’s all about your brand’s unique value proposition.

5. “Join women’s entrepreneur groups.”– Karen Leonard, Innovative Global Vision

Karen Leonard, founder of Innovative Global Vision, initially questioned whether women’s entrepreneur groups would be useful. Now, she considers them one of the most valuable resources for business owners. “These groups have given me friendship, mentors, peers, and provided the sometimes not-so-easy-to-take reality checks. Sometimes an outside perspective can remove the blinders that come from being too close to a situation or issue.”

Connecting with other like-minded women entrepreneurs can provide guidance, encouragement, and fresh insights. Surround yourself with a strong support system, and don’t hesitate to lean on others who understand your challenges.

Supporting Women in Business at First Financial

At First Financial, we are proud to support women-owned businesses by offering personalized business services and banking solutions. Our goal is to help our members gain financial confidence and achieve long-term success. If you’re a small business owner in Monmouth or Ocean Counties – and are looking for financial tools and advice, we’re here to help. For more business insights and financial resources, call us at 732.312.1500, visit a branch, or explore our services online. Subscribe to our First Scoop Blog for more financial advice and inspiration!

Setting Your Business Up for Success in 2025

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As the new year unfolds, many business owners begin looking for ways to accelerate success by developing fresh goals and aspirations. Laying a solid foundation now can help create clarity, direction, and momentum to achieve your strategic objectives. Here are six practical strategies to set your business up for success in 2025.

1. Look at the Past Year’s Lessons

To move forward effectively, start by reflecting on the past year. What worked well for your business in 2024? Celebrate those wins and look for ways to build on them. On the flip side, identify areas where things didn’t go as planned. What lessons can you take from these experiences, and how can they inform your goals for 2025? By analyzing successes and challenges, you gain valuable insights that help you refine your strategy for the year ahead.

2. Critically Assess What’s Working and What’s Not

Begin with a candid evaluation of your current operations. What’s driving growth and success in your business? Lean into these strengths while addressing inefficiencies, distractions, or low-impact projects that aren’t contributing to your goals. It is okay if a project or idea you were excited about last year didn’t pan out. Now is the time to reallocate resources or find a way to put a new spin on those forgotten ventures. Empower your team by involving them in discussions and listening to their thoughts on current processes and their ideas for the future. By prioritizing intentional actions and cutting what’s not working, you create a roadmap for long-term success.

3. Set Three to Five Strategic Goals

Rather than overloading your to-do list, focus on three to five high-impact goals for the year. Begin with a strategic review of 2024’s outcomes and identify priorities that align with your big picture vision. Break each goal into quarterly milestones, assign accountability, and determine what resources or support are needed to achieve them. This clear and structured approach ensures progress without overwhelming your team.

4. Start with Your People

Your team is your greatest asset, so prioritize building and maintaining strong relationships. Whether you’re a solopreneur or managing a large team, connect with key stakeholders like investors, loyal customers, suppliers, and trainers. Communicate your vision for 2025 clearly and involve others in the planning process. By fostering collaboration and strengthening connections, you create a solid foundation for success.

5. Derive Annual Goals from Financial Discussions

Your financial outlook should guide your strategic planning. Assess your current financial position and consider factors like growth stage, market opportunities, and resource allocation. Use this information to set operational and strategic goals for 2025. For expert support, check out First Financial’s business services, including resources and informative newsletters designed to help businesses thrive.

6. Align Goals with the Larger Vision

Start the year by asking, “Where do we want to be in three years?” Align your 2025 goals with this larger vision to maintain focus and momentum. If your vision is to move your business into a larger space or fully renovate your current space, then set goals such as increasing brand awareness by 20% or increasing yearly sales by 15%. Choose goals that can act as stepping stones on the way to the bigger vision. Engaging a mentor, board member, or trusted advisor for an external perspective can provide invaluable insight and keep your plans on track.

Plan for Success with First Financial

Setting your business up for success in 2025 starts with intentional planning and the right support. At First Financial, we offer resources and services to help your business thrive – from financial tools to expert advice. For more business tips and assistance, email business@firstffcu.com or visit a branch today. Don’t forget to subscribe to our First Scoop Blog for ongoing insights and strategies to help your small business achieve its goals in 2025 and beyond.

The Digital Economy and the Reinvention of Side Hustles

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Side hustles existed long before the COVID-19 pandemic, typically born out of a need to supplement income as opposed to pursue a passion that previously felt out of reach. Before the emergence of rideshare or grocery delivery platforms, one might have supplemented their income by reselling used items at a garage sale or offering their lawnmowing or pool cleaning services to a small circle of friends or neighbors. The pandemic, coinciding with the growth of platform-centered businesses, created the perfect storm needed to not only propel side hustles back into the spotlight – but shine them in a new light. Not only could you pursue something you are genuinely passionate about, you could also make some money doing it. Although the pandemic is thankfully behind us, one thing remains certain — side hustles are here to stay, and they look much different than ever before.

What is a Side Hustle?

A side hustle is generally viewed as a means of generating extra income outside of your primary job. However, a more modern definition suggests that in addition to that – a side hustle provides flexibility and the pursuit of personal passions. For some, flexibility and pursuit of passion might be immeasurable in comparison to supplementary income — causing side hustles to be pursued out of choice rather than necessity.

And Why are They so Popular?

Many factors have come into play to increase the popularity of side hustles among the general population, such as:

  • Digital Economy and Technological Growth: The definition of digital economy is constantly evolving, but generally refers to humans and technology working together to generate business. For example, ridesharing apps like Uber or Lyft have created a market of people willing to provide an on-demand car service to consumers and becoming connected via an app.
  • Generational and Attitude Shifts: Young workers such as those in Gen Z, are one of the few generations that have increasingly experienced an entirely remote or hybrid school and work environment. Additionally, due to recent economic conditions – many young workers have been faced with a difficult introduction to the job market and have been turning to dynamic workplaces to meet their needs. Lastly, younger generations especially tend to put a greater emphasis on well-being and mental health, which might be better afforded by a side hustle if done the right way.
  • Cost of Living: Let’s face it — living is more expensive than ever before. Especially for those living paycheck to paycheck, a side hustle might be an attractive option to bridge the gap between saving for what you need and saving for what you really want.
  • Identity Builder: Side hustles can act like a tattoo of sorts — offering onlookers an insight into one’s interests and passions. It’s a great conversation starter, too.

2025’s Most Popular Side Hustles

The rapidly growing and advancing of technology and digitization has created many opportunities for individuals looking to bring their passions to the right market. Here are some popular side hustles worth considering if you have skills or passions you’re looking to capitalize on in the new year:

  • Freelancing: Freelancing refers to offering your work or services on a per-job or per-task basis, allowing you to potentially work on multiple projects for multiple clients. Whether you have a knack for writing or a passion for computer code, there could be someone out there requiring your services. Some popular platforms to connect freelancers with clients are Freelancer and Upwork.
  • Platform-Based: There has been a rise in platforms that connect consumers with people offering on-demand services, such as Uber or Lyft for ride sharing, DoorDash or GrubHub for food delivery, and Instacart for grocery transport. There’s even a platform called Rover for those animal-lovers who want to pet sit or walk for fun, and earn a little money while doing it. These platforms afford you flexibility when you work by allowing you to create your own schedule. If providing goods to people is more your thing — Etsy and eBay are platforms that allow you to sell various new, used, or handcrafted items to people around the globe.
  • Content Creation: Many individuals have created a side hustle out of posting relatable content on various digital platforms. You have to find your niche — what type of content you would like to provide your potential audience with. Whether you would like to post relatable content about your family or relationship, or tell the world all the fun facts you have up your sleeve, someone might want to watch your content and certain platforms will pay you to post it. Creating content can help you form partnerships with your favorite brands, too — if they want you to represent their product or service.
  • Affiliate Marketing: Affiliate marketing typically refers to content creators and brands working together to promote products or services. These brands gain access to a representative who promotes their product or service to an audience of people willing to listen. An individual can get paid for affiliate marketing in various ways, one of which is when you refer a member of your audience to the brand you are promoting and it leads to a sale. There are many affiliate programs out there — you just have to do your research and make sure it’s right for you!

First Financial is here to help if you are looking to take your passion-project turned side hustle to the next level. Whether you’re looking to start with the basics, or your business has become more established over the years and you’d like to learn more about financing with a Business Loan – we’re here to support your business every step of the way. If you’re ready to take the next step, don’t hesitate to contact business@firstffcu.com, visit us at a local branch, or call 732.312.1500.