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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Revitalizing Your Old PCs Can Maximize Your IT Investment

Computer technology changes so quickly, it almost seems like today’s state-of-the-art today might well be obsolete. Though few small business owners can afford to be on the “bleeding edge” of PC technology, they also don’t want to compromise their employees’ productivity with seemingly outmoded machines.  As a result, they find themselves making periodic purchases of new hardware while the old machines pile up in a closet or corner.

Your Price Is Right — If You Do Your Homework

“How much should I charge?”

That’s one of the first questions most small business owners ask. And it’s not an easy one to answer. Setting a pricing strategy depends on many factors — the type of product or service you’re offering, your own costs to provide it, your expected profit, your customers’ location, the “going rate” for your industry, and many others.  

Finding just the right balance between all of the factors involved is more art than science. Pricing too low can cut into your profits, while overpricing also can hurt your business.

Good Planning Will Help You Know How to Grow

After a fast start, your small business seems to have lost momentum. What happened? And more importantly, what can you do about it?

Given the interconnected nature of today’s economy, even small, largely local businesses are influenced by trends and events in other industries, and even other continents. 

For Fast-Track Fulfillment, Consider Specialized Shipping Services

Handling the fulfillment responsibilities yourself may seem like a good, cost-saving idea when you’re just starting out. But as demand for your products grows, so too will your fulfillment backlog. Unless you stay on top of it, your sales will suffer along with your company’s reputation for quality and responsiveness.

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.

The Potential Power — and Pitfalls — of Partnerships

The idea of a partnership may be appealing if you’re considering launching a small business.   Unlike solo ventures where the burdens fall on a single person, partners can share responsibilities and often bring different skills and knowledge to the business. One partner may be great with numbers and planning, while the other is a whiz at marketing and sales. Combining these elements can open more doors and help the business realize more opportunities more quickly than it could with only one person involved.

Overtime Awareness Will Protect You and Your Employees

Will you be asking your employees to work overtime this year? Before you start setting those work schedules, make sure you fully understand the rules governing overtime pay.

Under the Fair Labor Standards Act (FLSA, administered by the U.S. Department of Labor’s Wage and Hour Division, hourly employees must be paid overtime at time-and-a-half for working more than 40 hours in a workweek. Overtime pay may not be waived by any agreement between you and your workers.

Overtime Awareness Will Protect You and Your Employees

Will you be asking your employees to work overtime this year? Before you start setting those work schedules, make sure you fully understand the rules governing overtime pay.

Under the Fair Labor Standards Act (FLSA, administered by the U.S. Department of Labor’s Wage and Hour Division, hourly employees must be paid overtime at time-and-a-half for working more than 40 hours in a workweek. Overtime pay may not be waived by any agreement between you and your workers.

Some Insights on Successful Outsourcing

Outsourcing is a common practice in today’s business world, but it’s not the domain of large companies. Small business owners use outsourcing for a variety of reasons— to handle work overflows, receive specific expertise in a new or unfamiliar area such as marketing or IT, or take on more routine administrative tasks that are taking up too much of their time and attention.

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