50 Do's to Build Your Business #3

 

50 Do’s to Build Your Business #3

 

 

21. Make succession plans, or selling-your-business plans YEARS in advance.

22. Seek the best URLs and Twitter monikers for your business, whether or not you use them now.

23. Never compromising on new hires, but always waiting for the right candidate.

24. Hiring outstanding people when you meet them; create their job as you move along.

25. Always reviewing every idea, initiative, or sales pitch by asking  “What can we do to make this unforgettable?”

26. Always remembering to say Thank You to customers and staff.

27. Always “Trust, but verify” People on your team may mean well, but without guidance they can go off-track.

28. Always listen to those with more gray hairs than you.

29. Hire an experienced business lawyer, not just anyone with a law degree.

30. Provide solutions for your customers and your employees, and they will always be your customers and employees.

 

 

Marty Kahn, SCORE Counselor

Visit us at: www.scoresouthflorida.net

 

50 Don'ts to Build Your Business #2

50 Don’ts to Build Your Business #2

 

11.Assuming everyone else is like YOU in their tastes, expectations, values and risk appetites.

12.Underestimating costs.

13.Overestimating revenues.

14.Not having a professional recent photo of yourself, for your website, the local press, Facebook, etc.

15.Not developing standard greetings and personal mission statements for when you meet new people or attend networking events.

16.Not having a networking STRATEGY for consciously finding, meeting and QUALIFYING prospects.

17.Neglecting market research that would help you understand customers’ needs.

18.Trying to do things on the cheap (clunky websites, bad product design and packaging, do-it-yourself accounting)

19.Not being able to articulate your business’s unique value proposition.

20.Not pursuing partnerships with likely organizations such as suppliers, promotional partners or non-competing peers (across town or three counties away).

 

 

Marty Kahn, SCORE Counselor

Visit us at: www.scoresouthflorida.net

 

 

50 Do's to Build Your Business #2

 

50 Do’s to Build Your Business #2

 

11.Be pro-active in selling job candidates on the virtues of your company.

12.Offer new customers extra incentives to build their confidence in your company.

13.Keep a SPECIAL notebook or a digital document to record ideas for new products and tactics.

14.Make sure you always have the right insurance coverage.

15.Know your banker better.

16.Pay attention to your customers’ personal interests, their support staff, even their children.

17.Tell your employees you have confidence in their decisions.

18.Remembering that great ideas are less important than how they are executed.

19.Understand the difference between LEADERSHIP (Where are we going?) and MANAGEMENT (What do we need to get done today?)

20.Set up development plans for key employees.

 

Marty Kahn, SCORE Counselor

Visit us at: www.scoresouthflorida.net

 

 

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:

TOM HYMAN   

 

 

When Tom retired from a long, successful career as Regional Sales Manager for a major liquor distiller, he knew he possessed the skills to help others start a new venture, or grow their existing business. That reflection ultimately led him to apply for Membership in our Chapter. And what was an appealing outlet for Tom, became a real coup for Boca SCORE.
 It wasn’t long at all before Tom began displaying his keen analytical mind, the ability to determine crucial issues for his clients, and an open, supportive attitude that made clients feel more determined than ever in their pursuit of their personal dreams. That attitude, those sober, thoughtful ways are clearly measured in Tom’s annual Client statistics, which place him in the top echelon of all our members.
As you can tell, Tom enjoys responsibilities, so it was no surprise when he volunteered to be a Mentor at the Young Entrepreneurs Academy (YEA), There he mentored Jordan Zietz, a 12 year old, who went on to win 3^rd place in the National finals.
Tom has also become our Liaison to the Boynton Beach Chamber of Commerce, where he has earned the respect of the Chamber’s office team, and so now our eblasts offering various business courses are being fully disseminated to their members.

For all these things and more, we are honored to salute Tom on his election to Special Counselor of the Month for October, November, and December.

50 Don'ts to Build Your Business #1

Don’ts To Build Your Business #1

 

 

1. Not doing a business plan. (Even well established businesses should have a plan that outlines their market, products and objectives.
2. Not understanding your break-even point.
3. Underestimating the importance of cash flow.
4. Not differentiating your business from your competition.
5. Ignoring the powerful plus of having a mentor.
6. Working alone when a partner could compensate for your weaknesses and triple your effectiveness.
7. Undercapitalizing the business at the start.
8. Not tapping into common sources of startup funds.
9. Failing to inform groundfloor investors, typically friends and family, of the inherent risk of startups.
10. Expecting venture capitalists to be helpful.

 

Marty Kahn, SCORE Counselor

Visit us at: www.scoresouthflorida.net

 

 

50 Do's to Build Your Business #1

 

“50 DO’S TO BUILD YOUR BUSINESS”

 

 

1. Pay attention to personnel problems.
2. Read and interpret data or get a mentor to help you.
3. Ask for referrals from every customer and every prospect.
4. Empower subordinates to challenge and correct you.
5. Take advantage of “green” solutions for cost savings AND branding.
6. Make every deal one in which both sides win.
7. Take time to explore other people’s ideas before shooting them down.
8. Recognize that feedback from customers, suppliers, staff-is a gift.
9. Set clear policies for accounts payable.
10. Recognize that dissatisfied customers are opportunities rather than problems.

 

 

Marty Kahn, SCORE Counselor

Visit us at: www.scoresouthflorida.net

 

 

 

100 Do's and Don'ts Watch this space

 

Over a 10 week period we will feature a series of Do’s and Don’ts for small businesses. The author is Martin Kahn, a SCORE Counselor, and a former small business owner. Marty owned his own business for over 40 years, and, fortunately, was able to successfully retire from it. But along the way, he made some mistakes too. He is willing to share his experiences with you.

 

There are 100 items in the series and we will present them10 at a time. Some of the articles will list the “Do’s”, while others will be the “Don’ts”.

 

So, tune in, maybe you will learn something from Marty.

 

 

Steve Koenig, SCORE Counselor

Visit us at: www.scoresouthflorid.net