Starting a Business

Simple Steps Debut

Date
Wed, 2011-04-13 11:13

The Tulsa Chapter is proud to debut a new workshop series in May titled, Simple Steps to Growing Your Business.

Please click on the workshop tab to learn more.

We all need to keep the cash flowing so we can run and grow our businesses. But, for many entrepreneurs, money is still hard to come by. And I don’t mean investment capital; it’s become a waiting game just to collect money that’s due us. 

Cash

Far too many business owners have receivables they, well, haven’t received. So, how do you collect what you are owed? 

About the Author

Rieva Lesonsky HeadshotBizSuccessTips Editor Rieva Lesonsky is founder and CEO of GrowBiz Media, a content and consulting company. A nationally recognized small business expert, Lesonsky has appeared on hundreds of radio shows and numerous local and national television programs. Read more of her insights at SmallBizDaily.com.

Many entrepreneurs are challenged—even intimidated—by the prospect of collecting what is owed to them, partly because most don’t like being confrontational and partly because they are afraid to find out they’ve been had. In spite of this discomfort or fear, however, you must be proactive in collecting your receivables. If you’re not, you gain nothing and lose everything.

PiggybankCertainly, nonexistent or sloppy bookkeeping practices will slow down the process and exacerbate the discomfort, simply because you can’t remember and/or can’t prove that a customer is in arrears. Even when you’re well organized, collecting overdue accounts is not easy or pleasant.

About the Author

This article provided by Terri Lonier of Working Solo. Lonier is the author of a series of five working solo books for entrepreneurs. This article is excerpted from Smart Strategies for Growing Your Business by Terri Lonier.

5 Tips for Writing a Business Plan For a Loan

  • Begin with a statement of purpose. You should be able to explain your business in 25 words or less.
  • Tell how your business will work and why it will be successful. List the owners.
  • Fill in the business details. Describe its products or services, the customers, the market and the competition. List the managers and their credentials.
  • Supply three years of projected financial statements. Include income, loss, and cash-flow projections.
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Download this list of 35 best practice tips for planning your business.

LEIGH & MICHAEL MURPHY

"My husband and I developed a “passion” for Kettle (pop) Corn; and, when we decided to try it as a business a friend felt it would be advantageous for us to attend the SCORE® seminars on how to start a new business. This resulted in an on-going series of meetings with SCORE® counselors, each time benefiting from the advisors’ invaluable experience and knowledge. Today Kernel’s Kettle Corn is a reality!

We have a business location on the Santa Fe Plaza, and we could not be more grateful for the excellent direction and advice that we received from the SCORE® counselors along the way. From help in setting up our basic “business structure,” to doing the necessary research to “vet” our idea, thru the implementation of our business plan, the thing we found unique about SCORE® was their ability to stick with time-proven, good business sense, while continuing to incorporate practical suggestions for navigating through the ever changing economic times in which we live today.

Having mentors who have been there “first hand,” and understand the needs of a small business is a real plus for anyone needing direction. As we learned from our time with SCORE®’s counselors, many small businesses have failed simply for not doing the basic planning and investigative work needed to be successful. Even with something as simple as popcorn we can honestly say that, had we not followed through on the approaches suggested by SCORE®’s advisors, we might not be in operation today. We are now completing our first year in business and are making preparations to expand.

Even now that we have started our business, SCORE® counselors continue to give support. My husband and I have also attended additional seminars this past year, to learn about websites and the internet, as this will be a next step for our continued success. SCORE® has been a great experience for me and I recommend it for anyone who wants to start or cultivate their small business. Best of all, Its FREE!!!

My Location
On the Plaza, Santa Fe, New Mexico
United States

Not all franchisers are created equal. Some are scrupulous, and others are not. Some give lots of training and support and are easy to work with, and others don’t. Some do not have problems with their network of franchisees and others have far too many.Before you get too excited and start thinking with your wallet instead of your head, find out the answers to these sorts of issues long before you sign any documents.

About the Author

Steve Strauss HeadshotSteven D. Strauss is a lawyer and writer and is one of the country's leading experts on small business as well as an international business speaker. The best-selling author of 17 books, his latest is the all-new 3rd ed. of The Small Business Bible. You can listen to his weekly podcast, Small Business Success Powered by Greatland, visit his new website for the self-employed, TheSelfEmployed, follow him on Twitter, and "like" TheSelfEmployed on Facebook. You can e-mail Steve at: sstrauss@mrallbiz.com. © Steven D. Strauss

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