Before you notice the labels at Panache Vintage & Finer Consignment in Brighton, you may notice the hats. Yet, the hats are more than decorations; they represent the incredible entrepreneur behind one of Rochester’s most unique and successful female owned boutiques: Joan Lincoln.
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Published Mar. 29, 2013
Use this guide from SCORE Lancaster to plan for your new small business.
Starting and managing a business takes motivation, desire and talent. It also takes research and planning. Like a chess game, success in small business starts with decisive and correct opening moves, although initial mistakes are not fatal. It takes skill, discipline and hard work to regain the advantage.
To increase your chance of success, take the time upfront to explore and evaluate your business and personal goals. Then use this information to build a comprehensive and well thought-out business plan that will help you reach these goals.
Published Mar. 29, 2013
Learn from SCORE Westchester about the difference between passion and reality and the roles they play in entrepreneurship.
When entrepreneurs are thinking about starting a business, there are two distinct concepts critical to success that pop-up time and time again: Passion and Reality
Passion is best described by the following quote:
Because the people who are crazy enough to think they can change the world are the ones who do. -Steve Jobs
Published Mar. 29, 2013
Learn about alternatives for small business financing and increasing the appeal of your loan application.
Typical Requirements to Obtain a Bank Loan
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Credit Score of 700 or above.
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Cash flow sufficient to make loan payments from day “1”.
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Collateral sufficient to cover entire loan.
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Obtaining a loan for 100% of capital needs is usually not possible. Lenders usually required borrowers to have some personal or other source of cash to cover at least 25% or more of the total need.
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Published Mar. 29, 2013
Learn from SCORE Westchester about legally registering your business.
Under an Assumed or Trade Name or as a Partnership
Most counties have a clerk office where you can register your name and obtain a trade certificate. They will issue a trade certificate or a partnership certificate after verifying that the name of your business is not already in use.
There is a small fee and they will usually give you a few copies which are for yourself, the state and your bank.
Published Mar. 29, 2013
SCORE Westchester provides tips for creating an effective elevator speech for introducing your new business.
What is an "Elevator Speech"?
An "Elevator Speech" is a concise, carefully planned, and well-practiced description about your company that anyone should be able to understand in the time it would take to ride up in an elevator.
Published Mar. 29, 2013
Learn how to choose the best legal structure for your new business.
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Sole Proprietorship
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"C" Corporation
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Limited Liability Partnership
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Partnership
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"S" Corporation
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Limited Liability Company
(This information is provided for guidance only. Competent legal accounting advice should be obtained to assist you in making a decision on form of organization)
Published Mar. 29, 2013
The Willamette SCORE chapter provides insight into what lenders look for in a successful and convincing business plan.
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Don’t push adjectives. Let me assign my own. This year for every plan that really looks like it might be disruptive or game-changing I saw 20 or so that claimed to be.
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Tell stories. A story tells market need way better than general market numbers. Write about problems you solve, who has them, how you solve them, and why you do it better than anybody else.
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When it comes to finding a great name for a business, brand, product or service, it really comes down to this: A good name should make someone smile or nod, not scratch their head in confusion.
When it comes to finding a great name for a business, brand, product or service, it really comes down to this: A good name should make someone smile or nod, not scratch their head in confusion.
About the Author
Daniel Kehrer, Founder & Managing Director of BizBest Media Corp., is a nationally-known, award-winning expert on small and local business, start-ups, content marketing, entrepreneurship and social media, with an MBA from UCLA/Anderson. Read more of Daniel's tips at
www.BizBest.com, follow him at
www.twitter.com/140Main and connect on LinkedIn at
www.linkedin.com/in/danielkehrer.
On Saturday, May 4th, 2013, the Princeton SCORE chapter and Princeton Public Library are joining forces to host the 5th Annual Small Business Fair in downtown Princeton. The fair will be held at the Princeton Public Library from 11am to 3pm, and attendance is FREE.
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