2025 SMALL BUSINESS TOOLKIT 4 - Flipbook - Page 9
LIT
8. CREATE A LONG-TERM SUSTAINABILITY PLAN
OBJECTIVE: FUTURE-PROOF YOUR BUSINESS BY PLANNING
FOR POTENTIAL POLICY CHANGES.
Steps:
1. Conduct a SWOT (Strengths, Weaknesses, Opportunities, Threats)
analysis.
2. Identify alternative funding sources, such as private grants or
partnerships.
3. Develop a 3- to 5-year strategic plan that emphasizes independence
from specific programs.
Why It Matters: Proactive planning reduces vulnerability to policy changes
and builds resilience.
9. EXAMPLE CASE STUDY: ADAPTING TO CHANGES OF DBE
PROGRAMS
Business Name: Hello Transit Solutions
Challenge: The end of the DBE program removed a key avenue for securing
public-sector contracts.
Solution:
Obtained certifications to access private-sector opportunities.
Invested in networking to build direct relationships with primes.
Expanded services to include transit technology consulting, revenue
streams.
Results:
Secured contracts with two private corporations emphasizing supplier
support from the local economy.
Increased revenue by 15% in one year, despite the loss of DBE
opportunities.
Established stronger partnerships, leading to repeat business.
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