Ask SCORE

SCORE, "Counselors to America's Small Business," is a nonprofit organization of more than 13,000 volunteer business counselors who provide free, confidential business counseling and training workshops to small business owners. Call 610.327.2673 for the Pottstown SCORE chapter, or find a counselor online at www.pottstownscore.org

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Eight Ways to Manage Your Time and Multiple Projects

As a small business owner, you must have fallen into the trap of having to juggle many tasks in a limited time. While there is no magic formula to hitting the right balance and managing your time seamlessly, you can improve your time-handling skills to accomplish more tasks on your to-do list. Here are some ways to help you keep everything in check when working on multiple projects at the same time.

1. Make a to-do list before you start your day

Record Keeping 101: Information Your Small Business Needs to Maintain

One of the most important administrative responsibilities small business owners face is keeping accurate and current records. Not only is it critical for assessing opportunities and risks that can affect your company’s profitability and potential for growth, it’s also necessary for ensuring legal and regulatory compliance.

Regardless of the type of business you are running, record keeping comes with the territory. Some types of documentation and information are required for all businesses and others may or may not be necessary depending on your industry.

Get Ahead of Your Personal Paper Chase

Forget everything you’ve read about the “paperless” office. Though our computers, PDAs, and smart phones have digitized many aspects of daily life, paper is still very much with us.

Good Habits Can Translate Into Great Sales

The longer you’re in business, the more you realize that the only constant is change.  You may be enjoying strong sales across a broad customer base, but those conditions could be far different in just a matter of months.  A competitor’s offer may tempt your customers to try something different.  Organizational and operational changes may require you to build relationships with new people from scratch.

Opportunities Abound for Sharpening Your Small Business Skills

Very few people begin the process of building a small business with a full knowledge of all the skills required for success.  Even those who extensive experience or education in business management still need to bring themselves up to speed on the added responsibilities of entrepreneurship—tax issues, employee management, business development, accounting, etc.

Redefine Your Management “Quality Time”

Time is a precious commodity for every entrepreneur. With all the responsibilities of managing and growing a small business, the hours and the days can easily slip by, sometimes leaving one to wonder just how much got accomplished.

For many, the go-to time management tool is the to-do list. Marking off completed items may provide a sense of satisfaction—at least until you remember what else has to get done— but it may not be as productive as you think, according to professional organizer and productivity expert Julie Morgenstern

Accuracy is Essential in Small Business Valuations

When you first contemplated becoming an entrepreneur, you probably spent some time calculating how much your time was worth. Now, you may be wondering how much this business that you’ve built is worth.

There are many reasons for determining the value of your small business. You may be ready to raise capital by issuing stock or selling a portion of the business to a prospective partner. An appraisal may also be needed in order to spin off a portion of your business, settle a dispute or divorce, liquidate some assets, or sell the business entirely.

Pottstown SCORE Celebrates 25th Anniversary with Client Expo

On October 22nd, the Service Corp of Retired Executives (SCORE) Pottstown Chapter celebrated its 25th anniversary with a first of its kind Client EXPO. The event was open all of the tri-county area business community and their supporters. SCORE is a national organization of volunteer advisors offering free, confidential business advice to small businesses, entrepreneurs and local communities. All of the exhibitors at the EXPO were SCORE Clients or sponsors.

5 Benefits of Hiring a Diverse Workforce

Not only is variety the spice of life, but it also holds a lot of value for small businesses. Hiring a diverse workforce—a staff that’s inclusive of people from different cultures, capabilities, religions, ages, educational backgrounds, political affiliation, sexual orientation, and personalities—can bring new perspectives and insight to your company.

Advantages of Diversity in Your Business

The B2E (Business to Employee) Focused Company

Naturally, most small businesses put a lot of time, energy, and resources toward catering to their customers. Whether your business is B2C (business to consumer) or B2B (business to business), there is another audience you need to keep happy: your employees.

Solopreneur Tips: Ways to Grow a One-person Business

Solopreneurs encounter many of the same challenges that other business owners face — and some unique ones, as well. Tasked with single-handedly managing all aspects of their businesses — sales, marketing, production, office management, accounting, etc. — they can quickly become overworked and overwhelmed. They may also find it difficult to grow their businesses as they deal with competing priorities and not enough hours in the day.

Fortunately, with dedication to working smarter and not harder, solopreneurs can gain the capacity to devote more time and energy to revenue-growth.

Self-Employment Tax 101 for Small Business Owners

When you have made the transition from someone else’s employee to being your own boss, you gain the autonomy to create your own professional path. You get additional responsibilities, as well—including paying self-employment tax. 

Self-employed individuals are required to not only directly submit the income tax they owe to the federal, state, and local governments, they must also remit self-employment tax to the IRS.

Who Is a “Self-Employed Individual”?

6 Simple Steps for Getting Things Done at Your Small Business

Whether you are running a for-profit or nonprofit business, an ability to organize efforts and initiatives is a necessary skill to achieve success. Effectively executing efforts and accomplishing goals requires planning and coordination among team members (which may be a combination of employees, vendors, suppliers, contractors, etc.).

 While some small business owners seem to have a natural knack for project management, it is not everyone’s strength. Do not feel defeated if it is not yours and you do not have the resources to hire a professional project manager.

Email Marketing Rules Every Small Business Owner Needs to Know

According to the Direct Marketing Association, the typical ROI (return on investment) for email marketing is about 4,300 percent. With that kind of effectiveness, it’s definitely a marketing activity worth considering for your small business. But before you blast out your first message, you need to know the rules.

How The Business Structure You Select Affects Your Income Tax Treatment

The business structure you choose for your startup will affect your company from a legal standpoint, and it will have an impact on your taxes, as well. Before you decide on the structure for your small business, you should do some research and talk to tax and legal professionals for guidance. The better you understand your options, the more likely you’ll be to operate under the structure that will benefit your business the most.

An Overview of A Few of the Most Common Business Structures

Sole Proprietorship

Simple Tips for Better Time Management

With so many responsibilities to tend to as a small business owner, it is easy to get overwhelmed and fall short on what you want to accomplish. If you are a new entrepreneur who formerly worked for an employer other than yourself, you may discover managing time has become more challenging. That is natural. After all, you have gone from having your work schedule and priorities set for you to needing to prioritize every project and task related to running your business.

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