For The Life of Your Business: Free Mentoring, Training, & Resources for Entrepreneurs

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1 For The Life of Your Business: Free Mentoring, Training, & Resources for Entrepreneurs

2 What is SCORE? SCORE is America s small business resource One-on-one mentoring in person & online. Workshops, seminars & events in your community. Business tools & templates at Free & confidential mentoring We help small biz grow Jelly Belly $160mm rev Vera Bradley $288mm rev 10.4 million served since ,000 assisted this year

3 We Coach Small Business SCORE is a non-profit resource partner of the United States Small Business Administration

4 SCORE: An Overview About SCORE SCORE was formed in 1964 as a resource partner of the Small Business Administration whose mission is to help aspiring and existing businesses succeed. Facts 11,000 volunteer across 320 chapters 1.1 million hours of service donated by volunteers 558,000+ total services delivered annually 432,000+ people served annually 38,630+ new businesses created ,319+ jobs created 2013

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7 Small Business Huge Impact Gallup Research shows SCORE Helps Business Start & Grow Even in Recession SCORE to Help Grow 1 Million Successful Small Businesses by 2017 Since 2009: Business Starts: 206,256 Jobs Created : 236,469 Jobs Saved : 39,730 Businesses that Increased Revenue: 188,101 Source: Gallup SCORE Client Outcomes Survey

8 How do our Clients Win? SCORE Provides Experienced Coaching Sound business planning Product and service review Financial insights Marketing and promotion Resource planning Choosing and negotiating with vendors Customer care

9 Who We Serve Building Entrepreneurship Aspiring and Existing Small Biz Owners Early stage entrepreneurs, who are considering to start a business but who need help defining their ideas, building their plan and obtaining financing Start-up businesses, who are seeking to establish their business and manage their finances Established businesses, who are seeking to grow their business and increase their revenue or customers

10 We help small businesses of varying sizes, in various industries: The conversation begins with one client.

11 The Price for Coaching a Client in Planning and Starting a Successful Business: $0.00 There is no cost to the client.

12 SCORE Mentors Volunteer to Help Our volunteers know the road to success in local and global markets. FACT: Over 90% of SCORE mentors have successfully managed businesses large and small.

13 How SCORE Mentors Help You If you are in the pre-startup or startup phases Confidentially review your business ideas Explain how to apply for licenses, etc. Provide info on finding legal and CPA services Help you create a detailed business plan Advise you on business negotiations Coach you through pre-finance preparations SCORE mentors often work in teams to meet your needs.

14 How SCORE Mentors Help You Mentors can help prepare you for new growth. Confidentially review your business situation Identify your served markets vs new markets Assess product portfolio Assist with SWOT analysis Identify business options Develop your growth strategies

15 How We Help Mentoring: Free face-to-face mentoring in each of its 340+ chapters and also provides online advice through Workshops: Educational sessions on a myriad of topics for entrepreneurs, ranging from business planning to marketing and financing. Roundtables: Facilitated peer sessions in discussing critical business topics. Online Resources: Wide collection of articles, templates, assessments, blogs, and other tools that can be used to learn and implement new strategies. SCORE is here to help you find success as an entrepreneur.

16 Mentoring Free. Personalized. Confidential. Expert Advice For the Life of Your Business Aspiring and existing entrepreneurs can get FREE, confidential, business advice from expert advisors committed to helping them succeed. Every SCORE chapter offers expertise in a variety of fields and industries. Whether you re just starting out, in business, or ready to sell or retire, SCORE can help providing guidance and resources to help with your decisions. Turn to SCORE for assistance with 1 question - or 1,000. We re here to help you succeed. for the life of your business.

17 Workshops e-business Now Helping Entrepreneurs Use Technology to Succeed The goal of this program is to help small business owners with little to basic digital literacy learn about technology tools to help solve their business challenges and grow their businesses. Workshops Include: Boosting Your Business Using Technology Creating a Technology Plan for Your Small Business Building the Perfect Website for Your Small Business Applying Technology to Jumpstart Your Sales Using Technology to Improve Your Cash Flow

18 Online Resources Entrepreneurs Favorite SCORE Resources Source: Gallup SCORE Client Outcomes Survey % of SCORE clients say these SCORE-mentored tools are very important to the growth of their business. Marketing Plan Business Plan Cash Flow Analysis Financial Strategy

19 Lean Canvas Business Model 20 Minute Exercise * Problem Solution Value proposition Unfair advantage 5 Customer segments What are the key (top three?) customer problems (desires and / or needs) that need to be solved? How does your solution address each problem (desire and/or need)? How does it address existing alternative shortfalls? What are the key benefits (top three?) of your solution to the customer? What makes you different (unique) as compared to your competitors (something not easily copied by competitors)? Who are the different customers you are trying to address (e.g. government, retail, etc)? What differentiates them? 9 6 Existing alternatives Key metrics High level concept Channels Early adapters What is available now in the market to solve the identified problems and what are their shortfalls? How can you quantify or measure success; what are the key numbers (e.g. number of items sold, etc)? What is your solution; describe what are the specific benefits you are selling? What are the various buying paths (ways to reach) to the customer (direct purchase, provide as service, leasing, royalties etc)? Which customers are your most likely first customers (e.g. have the highest need; have the money; are risk takers)? Cost Structures 8 7 Revenue streams Quantify the various fixed and variable cost components of your product or service by revenue stream Quantify the revenue streams associated with each buying path. Note: Revenue less cost is profit. Therefore focus on revenue streams which have the highest potential to provide the most profit *Adopted from Lean Business Model Canvas created by Ash Maurya

20 Outline of a Business Plan Executive Summary Company Description-Mission Goals, Strategies Products and Services, Marketing Plan Operational Plan Management and Organization Personal Financial Statement Start-up Expenses and Capitalization Financial Plan Appendices

21 Why SCORE Works You Don t Have to Go It Alone Mentoring provides improved chances for startup and success through one-on-one business coaching. Workshops provide training on critical topics in an environment where you can learn from experts and likeminded entrepreneurs. Online Resources can be your playbook to provide step-by-step outlines for small business strategies.

22 Get Started Today Don t Wait. Call or visit us online: 523 S. Buffalo St., Warsaw, IN Call Renea or Michelle at Kchamber.com or

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