Women Entrepreneurs

Financial Management for Small Business

Summary

Are your accounts receivables late? Is your inventory not moving? You will learn how to maximize income and minimize expenses.

The Arizona Department of Commerce offers a must do Small Business Services Online Program that guides you through what you need to know to start or expand your business in Arizona. The step by step guide acquaints you with all the statewide resources and information needed to start up your Arizona small business!  Included in the guide is detailed “how to” information on the following subjects:

  • Business Structure

  • Business Name Registration

  • Specific Business Activities

  • State Regulatory Licensing

  • Transaction Privilege Tax

  • Employee Hiring

  • City/Town Compliances

  • Loans

  • Procurement Opportunities

  • Certification for S/W/W/DBE

You should NOT start a business in Arizona without going through this guide. It is available 24/7 and you can proceed at your own pace. It is extremely valuable! : Click This Link  

You should NOT start a business in Arizona without going through this guide. It is available 24/7 and you can proceed at your own pace. It is extremely valuable!

Avenues of the World: Our SCORE Success Story

Meet Monika, one of Northern Arizona SCORE's clients, who was able to grow her business faster with the help of SCORE counselors.
 

Owner/Founder
Monika Leuenberger
My Location
2915 N. Fourth St
Flagstaff AZ 86004
United States

Technology to Increase Business Efficiency

Summary

This free online workshop brought to you by SCORE and Verizon will help you grow your business by using technology to incease efficiency.

Technology for Your Business

Summary

This free online workshop brought to you by SCORE and Verizon will help you grow your business using technology. 

Valuing a Business

Summary

This free online business workshop will: explain reasons to assess your company's fair market value, illustrate the 3 approaches to determining your company's fair market value, and interactive worksheets to help put it all together.

DMG Grows Business In Right Direction With SCORE Help

Entrepreneurs often face the dilemma of deciding how and when to add new services in order to keep a small business growing. For Angela Todd, founder and CEO of DMG, Inc., the challenge was identifying the most promising niche for her company, then investing the right resources to make it successful.

Owner/Founder
Angela Todd
My Location
Laguna Niguel CA
United States
Year Company Formed
1999
My Successes

In 1999, Angela Todd had started her own business that provided “turnkey” services for Southern California’s commercial real estate market. Drawing on her experience in professional services marketing, she helped connect real estate brokers and developers with qualified engineering consultants and contractors to help launch and complete new projects.

Angela enjoyed tremendous success in her first four years as an entrepreneur. In 2003, her husband Charles, himself a commercial development professional, was ready to become a partner and help take the business to the next level. The question was, what direction was best for the company go?

“We were growing fast, trying to be a lot of things to a lot of people,” Angela recalls. “With so many potential paths available, we needed to find one that was right for us.”

By narrowing their market, it helped DMG double its business in 2004. Angela is now looking to bring the company’s services to new markets, including banks that provide SBA-backed loans to other small business owners. DMG is also giving back to the community through activities such as sponsoring a luau fundraiser for St. Jude’s Children’s Research Hospital, and sponsoring a motocross racing team.

“We essentially created our own niche market—providing due diligence engineering and inspection services within the ‘short escrow’ period—the brief timeframe that brokers and developers have to verify the value of their properties to lenders,” Angela says. “We act as the ‘building police,’ investigating the property and the surrounding areas for hazards and concerns using our own engineers and inspectors to ensure that these services are performed within each customer’s stringent escrow contingency deadlines.”

What's Great About My Mentor?

While researching SBA loans, Angela learned about SCORE’s free mentoring services. After meeting with volunteer mentor Betty Otte, an expert in launching and managing various types of businesses, Angela was confident that she had found the answer.

Otte made recommendations for shaping DMG’s marketing advertising strategy. “Even though my background was in marketing, Betty provided valuable advice on how to tailor our message to our target markets,” Angela says. “Betty essentially gave us homework assignments, and every one proved to be successful.”

Along with refining DMG’s direct mail pieces and client newsletter, Otte has helped the couple bring some fun to their work. “Betty gave us the idea of turning our business development visits to brokers into ‘holidays,’ where we deliver pastries along with company information,” Angela says. “That reinforces our presence in each office, and we almost always meet someone we’ve not done business with.”

How SCORE Helped

“A lot of credit goes to Betty and SCORE,” Angela says. “Our discussions have produced valuable ideas that have helped us build our business, and address issues that might have thrown us off track. That’s why I recommend SCORE to everybody I talk to. Who wouldn’t want to take advantage of all that valuable knowledge and support?”

Tagline Communications

Since her college days, Celina Taganas Duffy, ran her painting, graphic design and greeting card business by the seat of her pants. Celina managed to achieve a measure of success thanks to creative talent, hard work and unique line of patented envelope-free greeting cards.

Celina recognized that regardless of her creative skill, her business—Tagline Communications—would be stymied unless she improved and streamlined her business practices. “I had been running my business for awhile, but I knew I could run it more effectively and efficiently,” says Celina.

Owner/Founder
Celina Taganas Duffy
My Location
Tustin CA
United States
Employees
2
Year Company Formed
1995
My Successes

Now I focus on the important areas,” says Celina. She claims that her revenue has risen by 80 percent with the help of her team of SCORE mentors and is grateful for their help in “completely turning the business around.”

Celina is now making plans to hire a graphic designer and find dedicated studio space, two steps that will allow her to spend more time painting her colorful and vibrant canvases. Celina’s greeting cards feature miniatures of her paintings and she’s also eager to expand Tagline Greetings, the greeting card side of Tagline Communications.

What's Great About My Mentor?

In November 2001, Celina visited the SCORE Santa Ana, CA Chapter and met with Mentor Leanore Saks. As an artist herself, Leanore offered insightful advice on the industry, pricing, portfolio development and general business planning.

When Leanore was going to be out of town for some time, Mentor Betty Otte stepped in to help Celina develop some marketing ideas. While learning more about Tagline Communications, Betty discovered that Celina frequently sent her invoices out late. She asked Mentor Hiro Kranz, a certified management accountant and retired controller, to assist. Soon, Hiro began meeting with Celina to develop a system to invoice accounts properly. Hiro taught Celina how to use QuickBooks and advised her on hiring a bookkeeper.

Betty continues to visit Celina’s office each month for mentoring. Celina says, “Betty keeps me focused and motivated. She gives me monthly project tasks to help me evaluate my business.” The future looks bright and busy for Celina, and she is confident with her SCORE mentors lending a hand, she will continue down the road of success.

How SCORE Helped

“My experience with SCORE has been amazing. I know I have strengths, but I’ve learned that I can’t do everything by myself. Having experts handle various aspects of my business, has freed up a lot of my time.” Says Celina Taganas Duffy. 

Barbara Gray Krause Designs Finds Success WIth SCORE Mentor

Barbara Krause had everything it took to be a successful graphic designer: more than 20 years of experience, numerous awards, and a Rolodex full of prestigious clients who appreciated the quality and timeliness of her work.

So what was she doing selling construction products?

That's what a volunteer mentor at SCORE's Las Vegas chapter wanted to know in 1996 when Barbara sought advice about her latest business venture. " Doubtful of the product's prospects for success, the mentor encouraged Barbara to consider a business that would capitalize on her natural talents instead. Barbara went home still pondering the potential of her relative's proposition, but the words of the SCORE mentor had struck a chord in her thinking. While attending a business networking luncheon some time later, Barbara sensed the proverbial "light bulb" clicking on in her mind. Instead of concentrating only on logos and brochure typefaces, why not help other businesses design their overall corporate image?

Owner/Founder
Barbara Krause
My Location
Las Vegas NV
United States
Employees
3
Year Company Formed
1996
My Successes

Certain she had finally hit on a solid, attractive opportunity, Barbara wanted to avoid making the same mistakes that had limited her success in the past. "It was discouraging to know so little about running a business," she says. "I was determined to learn how to become a business person."

Barbara initially gave her plan six months to succeed, yet she hardly noticed when that deadline arrived. By then, she had developed a thriving business aiding firms of all sizes and types. Her strategy included conducting seminars on marketing, even though she was a novice at public speaking. But by concentrating on what she knew and what her audience wanted to learn, she quickly became a hit on the Las Vegas business-meeting circuit. Her message is simple, yet effective: Small businesses can support each other by trading their expertise and knowledge.

Barbara has since expanded the scope of her services by teaming with Nevada State Bank to offer seminars on home buying in the fast-growing Las Vegas area. She's also conducting programs on how members of today's "sandwich generation" can balance their home and work responsibilities with the demands of caring for aging parents. Another project in the works—a TV production on do-it-yourself logo design—will soon bring her to cable systems around the country.

Meanwhile, demand for her seminars on marketing and networking continue to grow along with her consulting business. Barbara says that this torrent of talent might never have been unleashed had it not been for Bill Burns and her other SCORE mentors.

What's Great About My Mentor?

Barbara needed assistance and knew exactly where to go to find the expertise she needed,  SCORE. With the help of Volunteer Mentor Bill Burns, a former manufacturing and marketing executive with a large aluminum company, Barbara formulated business and marketing plans that would help her identify and contact clients in need of her services. The chapter's pre-business seminar also helped her understand the ins and outs of business management. "I couldn't believe it," she says. "I had paid thousands of dollars for marketing classes over the years, and here I was getting all this expertise for free, not to mention the invaluable follow-up support."

"Bill and others were so kind, approachable, and full of experience and good ideas," Barbara says. "They gave me the confidence and guidance that are so important to get a business started. Thanks to them, I've found a conduit by which I can succeed by doing something I enjoy, enrich my own life and help many other people in the process."

A nationally recognized expert on entrepreneurship, Barry Moltz has founded and run small businesses for the past 15 years, experiencing both great success and great failure along the way. His latest book, BOUNCE!: Failure, Resiliency, and Confidence to Achieve Your Next Great Success, offers entrepreneurs a new perspective on the concept of failure, and how recognizing and even embracing it can set the stage for bigger successes.

Forget about having “no fear,” or asserting that, “failure is not an option.” Actually, it is a very real option, and often happens. It’s okay to be afraid and it's okay to fail. Not everything works. Learn from failure and bounce to the next action and success. It's about resilience.

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