Library Resources to Help Grow Your Business

Did you know that Arapahoe Libraries pays for online resources that can help business owners and aspiring entrepreneurs to obtain useful information that isn't available for free on the internet? At the library, we typically call these resources "databases" which can be confusing because that term also refers to many different types of electronic resources and tools. In this article, I'll share information about two of my favorite business resources and give examples of how business owners use them to grow their businesses.

Data Axle

You can use Data Axle to create lists of businesses and potential customers (aka people) based on a variety of criteria. I know that might not sound very exciting, but when you look at the features listed below, you'll see how powerful and useful these tools are. 

Business Lists

Lists of businesses from Data Axle can help a business grow in several different ways. 

1. Business owners can benefit from understanding their competitors and how their services or products are different. Knowing this information helps business owners explain why their services or products are better or different than their competitors.
2. If you have a brick-and-mortar location, you will want to make sure your location isn't too close to a competitor's store.
3. Some businesses sell products or services to other businesses, so they can use these lists to help them market their business as well.

You can filter the criteria for your business lists by geographic area (such as cities, counties, metro areas or zip codes), type of business, number of employees and more.

Example:  A few years ago, I worked with a business owner who sharpened knives and blades. Each month, he would find new customers by running a list of all the new businesses in his area that he knew used knives or blades. Then, he contacted them to suggest setting up a schedule for him to provide sharpening services. This type of proactive marketing allowed him to continually find new customers, instead of waiting for them to find him.

Customer Lists

It's also possible to run lists of people. There are two options for running those lists.

• US Consumers and Lifestyles: allows you to filter by estimated home value, estimated income and interests/hobbies. 
• New Movers and Homeowners: allows you to run lists of people who have recently moved into a new home or apartment. 

Example: A business owner of a window washing company shared that he used Data Axle to identify neighborhoods with high value homes. When he didn't have a job, he'd go to that neighborhood and knock on doors to offer his company's services. Afterward, he'd send postcards to the homes in that area, since many people don't immediately say yes to a service. Often, it takes a few interactions or time for a consumer to decide to use a service. Many successful businesses have created a multiple touch strategy for sales. For more information on sales strategy check out the book The Neuroscience of Selling by John Asher.

Gale Business Entrepreneurship

When someone starts a business, they quickly discover that their sales and profits are affected by factors that are out of their control. For example, if unemployment is high in the area where they sell their product, people may buy less or choose cheaper products. If tariffs are high, they may have to pay more for raw materials or the business owner may have to raise their prices.  One way to better understand these potential impacts is to stay up to date on industry trends and challenges. That's where Gale Business Entrepreneurship comes in handy. You can find and read industry-specific articles for free! 

Here are a few examples of the useful information that you can find in Gale Business Entrepreneurship:

• Real business plans that were written by business owners who obtained a loan. A business owner or aspiring entrepreneur can use this as a template for their own business plan.
• Articles from over 300 different trade journals are available These types of journals often have articles written by experienced business owners providing insights on how to run, manage or market a business. Plus, there will be articles about how business owners are dealing with any new issues impacting an industry.
• Directories of resources available to businesses. For example, there are directories of franchises, trade journals and reference books. These can be helpful if a business owner is seeking more resources and information than is available from Arapahoe Libraries!

Have more questions?

These are only two examples of the business resources available from Arapahoe Libraries. If you have questions about these resources or other questions about starting a business, schedule an appointment with a business librarian or visit the Business Help