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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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.

Understanding the What’s and Why’s of Advertising

Have you ever seen an advertisement and thought that something similar might well benefit your small business? Well, it just could. Or, it could backfire and be a complete waste of money.

That’s because advertising is but one element of a business’s overall marketing strategy. True, it has many facets—print, billboard, online, broadcast, direct mail, etc.—but each element and the message it conveys has been carefully developed with a specific purpose in mind. In other words, image is not always everything.

“Success Thinking”—It’s All About Attitude

As a small business owner, you’re not just “the boss.” You’re also the leader, the person employees, vendors, customers, and prospects look to for guidance, support, and confidence. And being a leader is easier than you think. It begins with a positive, “can-do” attitude that your business delivers what it promises, and can achieve any goal.

Plan Now to Survive the Seasonal Sales Cycle

Seasonal businesses devote a large part of the year preparing for those special weeks or months when most of their revenue is generated. For many retailers the holidays are boom time. Fitness centers soar in January and sag with the summer exodus. Some businesses sell more when the weather warms, the tax or wedding season arrives or tourists travel.

Those boom times come at a price—financial survival throughout the remainder of the year when business slows to a trickle.

Use Mindful Management to Control Routine Costs

You’re very meticulous when it comes to providing quality service or products to your customers. So why treat your routine administrative expenses the same way? Every extra dime or dollar you spend on supplies, photocopies, postage, etc. adds up. Taken together, those “little things” can take a huge chunk out of your profits.

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.

Don't Let Office Clutter Clog Up Your Efficiency

For many small business owners, a cluttered desk or office is a sign of success. Things are good, so there’s more that has to be done. But it doesn’t take much for office clutter to go from a source of pride to a serious, potentially overwhelming problem.

Motivation Matters in Getting the Best from Your Employees

One of the first and most important lessons an entrepreneur learns is that employees really are a small business’s most important resource. In fact, the business literally cannot succeed with out them. Their talent, skills, and effort truly add value to your products or services, allowing you to focus on the planning and creative issues that will move your business forward.

Point, Click, Read: The Power of Good Web Copy

Good writing is the fundamental element of all your small business marketing strategy. A thoughtful, well-crafted message that connects with your customers will do more to connect with your customers than any other element.

This is particularly true for websites. Although the web is a visual-driven medium, with sites using flashy graphics, sounds, and other fancy features, success still comes down to what you say and how you say it.

Ethics: Don't Do Business Without Them

Operating an honest, ethical business may seem like a no-brainer. But in today’s highly competitive business environment, the temptation to bend the rules looms large. And don’t think that it’s OK to do something “just this once.” Not only is a wrong choice always wrong, but one-time ethics breaches often become habits. And, once the reputation of you and your business are compromised, it may be impossible to repair the damage.

Equipment Leasing Equals Lasting Value

Ready to invest in some new equipment for your small business, but concerned about the added burden of a loan? Consider leasing. 

Not only does leasing help you conserve your cash, it also ensures that you don’t wind up paying for equipment that quickly becomes obsolete or unsuited for your needs. And if you need the equipment only for a short time or special project, leasing saves you the hassle of having to be both buyer and seller.

Maximize Your Web Site's Visibility and Value

“You do your best business on Main Street,” so the old saying goes. But for 21st Century small businesses, “Main Street” is the so-called Information Highway of the Internet.

While a Web site is now considered a must for most any kind of small businesses— whether it’s just a “billboard” or a full e-commerce site— just having an Internet presence is not enough. You must continually monitor and reevaluate its looks, function, and utility to make sure its meeting the needs of your business and— more importantly— hose of your customers.

Borrowing from Friends or Family Requires Wise Management

Friends and family are an invaluable source of support for the aspiring small business owner. And often, they’re an invaluable source of financial assistance as well.

In fact, more small businesses rely on loans from friends and family than any other funding source. Familiarity with the person and his/her business goals, the investment opportunity, and the ability to monitor the venture’s progress are among the major reasons why friends and family members willingly contribute to a start-up or expansion.

Build a Better Business by Listening to Your Customers

Do you ever wonder what your customers think of your business? Are you meeting their expectations? Are there area’s that need improvement? Will they like that product or service enhancement you’ve been thinking about?

All those answers and more are there for the asking. All you have to do is listen.

Franchising is Fun and Rewarding — If You Do Your Homework

Franchising has been characterized as a way to be in business for yourself, without being by yourself. Rather than having to “reinvent the wheel,” a franchise owner can take advantage of tested concepts and proven operational and marketing strategies, as well as the franchisor’s institutional knowledge and guidance. 

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