Welcome to the SCORE Small Business Success Blog, where small business experts and mentors share tips, discuss trends, and provide advice on a wide range of topics affecting entrepreneurs in every industry.
Without the basics, business owners expose themselves to failure. Read here about the upcoming workshops to gain fundamentals skills in accounting, banking, strategic planning and more.
The author offers an unusual approach to reducing the risk of starting a new business. The author analyzes his experience with a client and proposes a straightforward approach to building a company's financial model from start to finish.The author describes step-by-step the process how to validate the data while also demonstrating the reasons of why clients might face a problem of adapting SCORE spreadsheets to produce a reliable financial forecast.
Getting advice early helps avoid common pitfalls for small businesses.
Norm Beckert emphasizes the role of the employees in the high customer satisfaction. The author's recommendation is to treat the team members - he calls them Team Players - as partners by giving them key leadership roles and to reward them by using Profit Sharing Program.