THE VIRGINIAN-PILOT
Copyright (c) 1996, Landmark Communications, Inc.
DATE: Monday, November 11, 1996 TAG: 9611090168
SECTION: BUSINESS WEEKLY PAGE: 05 EDITION: FINAL
SOURCE: BY ANAHITA WAGER-SMITH
LENGTH: 83 lines
So, you've finally hit upon the idea, the service or the invention you have been dreaming of for what seems like a lifetime. You're going for it, you're ready to go out on your own.
You're thinking, this is great, I am finally going to be my own boss, no one is going to tell me what to do and when to do it. But what's next?
Should you draft a business plan, make some cold calls, or rush out to get that business license? All of a sudden you're a little anxious because you don't know where to start.
You haven't seen a cash-flow worksheet in a couple of years, or maybe you don't even know what one is.
Or it could be that you've had your business for a while and are experiencing problems. The challenges could be stemming from employee complaints, cash flow or growing pains.
Things aren't going exactly as planned and you feel isolated and drained because you're tired of playing every role from the financial manager to the janitor.
Before you call it quits or give up before you even start, turn to the Hampton Roads Chapter of the Service Corps of Retired Executives. This non-profit 30-member association of mostly retired men and women volunteers wants you to succeed.
A new service is being introduced by SCORE, appropriately named Opportunity Knocks, or OK. Its mission is to bring together small business owners and managers to solve problems through shared collective experiences and proven solutions.
According to local coordinator, George Haycox, it's easy for budding entrepreneurs to become isolated and make mistakes because they often try to be all things to all people. The OK program provides a forum to find solutions and save a lot of trial-and-error time and money.
OK can provide another resource for resolving the multifaceted problems that a small company may be facing. Non-competing networking teams meet monthly in groups of 13. Haycox says each team is organized to avoid conflicts of interest and preserve confidentiality.
``OK was first implemented by the SCORE chapter in Central Oregon where the initial response was overwhelming and resulted in waiting lists for new members,'' Haycox said.
The novice entrepreneur interested in free one-on-one or team counseling, can take advantage of the years of experience and knowledge of numerous SCORE business consultants.
``The counselors have had successful careers in all walks of business life and have either owned or managed a business at an executive level,'' said Anthony E. Ewert, area SCORE chairman. Advice is offered in finance, business management, accounting, taxes, record-keeping, marketing and sales.
``We try to focus the client on who the customer is, what his needs are, who the competition is, and discuss ways of advertising and communicating to the customer,'' Ewert said.
Published materials are provided on topics ranging from writing a business plan to cash-flow analysis. ``We will provide them with a list of local banks that do business with the SBA . . . and educate people on the SBA,'' he said.
Mary Thompson, owner of Pet Pals, a home pet-care service, recently sought the help of SCORE counselors on her strategic business plan and record keeping.
``I had started the business . . . and wanted to make sure that I was on the right track,'' Thompson said.
Anette Luke, owner of A.M. Design & Installation, received valuable advice on the pros and cons of buying an existing business versus starting her own custom window curtain business.
``They were very friendly and always set you up with at least two different people,'' said Luke.
As a result of SCORE's help, she received, she wrote a business plan and draft financial documents that proved vital in attaining her SBA loan.
``The bank . . . did not ask me to provide any additional documents,'' Luke said.
SCORE is sponsored by the U.S. Small Business Administration. Small business counseling is offered on a walk-in basis at the Federal Building in Norfolk on Tuesdays from 9 a.m. to 12:30 p.m. No-appointments are required.
Counseling is also offered on Thursdays by appointment at One Columbus Circle in Virginia Beach. Phone 499-4567 for more information.
A workshop, ``How To Really Start Your Own Business,'' is scheduled for Nov. 23 at the Virginia Beach Central Library, Room A; the cost is $35. Also, a half-day workshop on ``Marketing For Small Business'' is held four times per year at various locations.
For more information on OK or the seminars call the main SCORE office at 441-3733. by CNB