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Sunday, July 27, 2014

How to Sell


“Build it and they will come”. Remember this phrase? Well it is not enough for a viable business! You can “build it”, “stock it”, “market it”, “fund it”, “Post it” and even more. But if you don’t SELL IT….you lose! Here are some of the things you need to SELL IT:
 
Know Your Customer’s wants/needs

Know the Product
            Demonstrate it

Know the Competition

Communicate Effectively
            Select Appropriate Medium
Ask the Right Questions
Make Connection/Rapport
Get the Customer to “Yes”
Ask for the Sale

Expand Your Network
Everyone Should Know What You Do
Opportunities Mean Sales

Keep in Touch After the Sale


Sell it and win!

 

Steve Koenig, SCORE Consultant


 

 

Wednesday, July 23, 2014

Posters, Posters


 

Florida businesses must display Federal and State of Florida employment law posters where they can be easily viewed by employees.

 
Check with the Florida Department of Economic Opportunity for the details

 
www.floridajobs.org › Business Growth and Partnerships

 
Select “For Employers”

 

 
Steve Koenig, SCORE Counselor


 

 

Saturday, July 19, 2014

Florida at mid 2014



An April issue of Florida Trend contains the following headline:

 
2014 Economic Yearbook:  Florida is back!

 
The article goes on:

Florida's economy is back. Real estate is surging, unemployment is down and tourism is rising. Some counties are hard at work diversifying their economies, while others are beginning to capitalize on major infrastructure projects.”

 
It is now mid year or later. How about your business?

 

Steve Koenig, SCORE Counselor


 

 

Monday, July 14, 2014

Obtaining a Florida Small Business License



New businesses in Florida need to look at state, county and local regulations to obtain the needed licenses. The type of business, structure, and location impact your Florida license. Visit the Florida official economic development organization, Enterprise Florida, Inc. Here are some issues to consider.

 
If you provide goods and/or services to the general public you will need a general business license, called a business tax receipt. They can be obtained by registering with the tax collector’s office. County tax collectors provide business tax receipts. You may also need a city business tax receipt, depending upon your location. You can contact your county tax collector for further information. Costs of a business tax receipt will vary.

Depending upon your industry, your business may also be a regulated profession or business which must be licensed through the Florida Department of Business and Professional Regulation. For some professions, you can apply and update your licenses online at the Florida Department of Business and Professional Regulation. You can also check there to determine if your business has additional state licensing requirements.  

In some instances, a business will operate under a fictitious name or doing business as (DBA), which means a company name other than their legal name, so it must apply for its fictitious name with the Florida Department of State. This can be done online or downloaded and mailed from a form you can obtain at the Florida Department of State, Division of Corporations website. Once your fictitious name has been approved, your company may use this name to transact business throughout the state of Florida.

Don’t forget to keep your licenses current


Steve Koenig, SCORE Counselor


 

Thursday, July 10, 2014

America's Youngsters Rapidly Becoming Entrepreueurs


 
One of the most exciting pieces of news on the small business front today is the emergence of youths 11-18 years of age starting and operating real, money-making businesses. This is due to such rapidly growing organizations as YEA (Young Entrepreneurs Academy), which caters to students in 168 different communities and 30 states across the country.

 
Here in Palm Beach County, South Palm Beach SCORE was the very first organization to provide a team of volunteer business executives to assist in the mentoring of the youngsters in the program. The program, now entering its 4th year of operation, is administered locally by the Boca Raton Chamber of Commerce, and the class size is limited to 24 students, all of whom pay a fee for the 30 week, 100 hour program, with scholarships available.

 
The fruits have been rich and growing.  The YEA program boasts over 1000 businesses started, with one fifth still operating in the 2nd year. Assisted by scholarships of over $500,000, the savvy youngsters are tasting real financial success and developing true entrepreneurial skills for their futures. And our SCORE Chapter is in the forefront of promoting this exciting small business concept.

 

Martin Kahn, Certified SCORE Mentor
 
 
 

Thursday, July 3, 2014

What is a kitchen or culinary incubator?


A kitchen or culinary incubator is shared kitchen space for new or early-stage “food entrepreneurs.”  Many begin from home under Florida’s “Cottage Industry” Law. All hope to elevate their “cottage business” to the next level but that requires a larger, relatively inexpensive, professional facility. 

The concept of shared kitchen provides relatively inexpensive space and overhead (rent and utility) because costs are divided among users. An incubator adds the element of technical assistance (a little hand holding through the process) to the shared kitchen experience.

Equipment for a basic commercial kitchen costs at least $ 150,000 and depending on the area, hourly rents fluctuate between $ 17.50 and $ 25.00 per hour.

Making a product, be it grandmother’s cookie recipe or a killer salsa, is the easy part. Learning the legal, product-development or marketing elements  of the business is tough. No matter how great a product might be, if no one knows about it or if it’s hard to find, chances for success are zilch. Culinary or kitchen incubators offer reasonable options that include supplemental education that help entrepreneurs strengthen their business plans to navigate the intricacies of distribution and comply with regulatory procedures. A crucial component for “food entrepreneurs” is the ability to discover, at an early stage, if they have what it takes to get into the food business. Discovering that option, early on, saves potential “food entrepreneurs” money, headaches, heartaches and overall frustrations. 

Community Caring Center of Greater Boynton Beach is located at 410 East Boynton Beach Blvd. (Boynton Beach, Florida 3343).  The Center’s (561-364-9501) a nonprofit kitchen incubator program aimed at offering practical business training and mentoring.  The center is a licensed State of Florida, Department of Business and Professional Regulations, Hotel and Restaurant and Department of Agriculture approved facility, for the preparation and sale of food.  For information, appointments or to learn more about the center, contact Sherry Johnson, the Center’s Executive Director at 561- 386-4261.

In the Community Caring Center of Greater Boynton Beach, Inc., d/b/a The Secret Garden Café, a Culinary Incubator Program’s commercial kitchen, one finds   caterers, personal chefs, bakers, street vendors, cake decorators and producers of specialty food items such as condiments and candies. Kitchen space is shared and scheduled to accommodate individual needs. The fee-based system recognizes that entrepreneurs generate little or no income during the first five start-up years; therefore rental fees are lower than other commercial kitchens that may rent space to tenants on an hourly, daily or monthly basis.  Tenants at The Community Caring Center sign a kitchen booking agreement that details the initial requirements to rent space, including providing copies of business license from both  city and  county, food management or handler certificates and food vendor license from either or both Florida Department of  Business and Professional Regulations or  Department of Agriculture.

Chefs, bakers and caterers who prepare their food at the Community Caring Center of Greater Boynton Beach's culinary incubator,  can sell their creations at the Secret Garden Café in the Cafe/Bakery/Deli Departments. The Secret Garden cafe is perfect for High Teas, private dinner parties, wine pairing events, and small groups needing a special meeting room. Sunday Brunch, (beginning September 7, 2014) catered weddings and special events are also available.  For questions or reservations, the café can be reached at 561-752-8598.

Suzana Sagy Macario, SCORE Counselor


 

 

 

Wednesday, July 2, 2014

Bitcoins Treated as Property for Federal Tax Purposes


Many retailers and online businesses now accept virtual currency for
sales transactions, but the federal tax implications were relatively
unknown until recently when the IRS issued a set of FAQs on virtual
currency such as bitcoins. The FAQs provide basic information about the
U.S. federal tax implications of transactions in, or transactions that
use, virtual currency. Here's what you need to know.

Sometimes, virtual currency such as bitcoins operate like "real"
currency--i.e., the coin and paper money of the United States or of any
other country that is designated as legal tender, circulates, and is
customarily used and accepted as a medium of exchange in the country of
issuance.

But bitcoins do not have legal tender status in any jurisdiction. If
you've been paid in virtual currency, you should be aware that virtual
currency is treated as property for U.S. federal tax purposes. In other
words, general tax principles that apply to property transactions also
apply to transactions using virtual currency. Among other things, this
means that:

     Wages paid to employees using virtual currency are taxable to the
employee, must be reported by an employer on a Form W-2, and are
subject to federal income tax withholding and payroll taxes.
     Payments using virtual currency made to independent contractors and
other service providers are taxable and self-employment tax rules
generally apply. Normally, payers must issue Form 1099.
     The character of gain or loss from the sale or exchange of virtual
currency depends on whether the virtual currency is a capital asset in
the hands of the taxpayer.
     A payment made using virtual currency is subject to information
reporting to the same extent as any other payment made in property.

If you're a business or individual that deals in virtual currency such
as bitcoins, don't hesitate to call us.

 


Barry Eisenberg, SCORE Counselor


 

Tuesday, July 1, 2014

Special Counselor of the Month

   

We are delighted to shine the spotlight on a distinguished member of our staff who by his or her efforts brings great credit to our organization. This month we are honored to salute:


ALPESH PATEL


 
Alpesh is a relatively new member of our award-winning Chapter, but in a very short time he has made a lasting impression. Becoming an IT aficionado at a very early age, Alpesh today owns and operates his own  Brand and Internet Marketing company, but still makes time to help others through his volunteer service with SCORE.
In addition to a full complement of clients eager to receive his mentoring, Alpesh also serves the Chapter as the Facilitator for our monthly Tech Roundtable, which often has a waiting list of eager attendees. And recently, at our 6th Annual SCORE Business Conference at Lynn University, Alpesh instructed four sold-out classes on “How To  Build a Website”.
So, you see Alpesh’s versatility. What you don’t see, until you are being mentored by him, is his gentle, thoughtful way of guiding clients to the goals they seek. This special skill, combined with his extensive background of knowledge makes Alpesh a much sought-after Mentor.
No “picture” of this talented and giving Mentor would be complete without mentioning that, with all he has on his plate, operating his business, meeting with business clients, volunteering at SCORE, serving as an advisor to several charities, Alpesh still makes sure to spend quality time with his young children at sports and activities, and assist at school events.
 So, take a well-earned bow, Alpesh Patel, our Special Counselor of the Month.Everything you do, for everyone you help, makes our Chapter shine!