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Small Business Advisory Board Services - Gain Expertise, Contacts, and Mentoring

Join SCORE's Small Business Advisory Board Services to receive guidance from experienced business owners and executives who will help strengthen your brand, provide valuable business contacts, and mentor you throughout your entrepreneurial journey. Attend seminars, mentoring sessions, and advisory board meetings to gain the expertise and support you need to succeed. Visit greateraiken.score.org for more information.

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Small Business Advisory Board Services - Gain Expertise, Contacts, and Mentoring

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  1. Greater Aiken SCORE 2016 Performance Advisory Boards Seminars Mentoring 48 Sessions 1,669 Attendees 309 New Clients 545 Total Client Meetings 20 Companies 12 Now Active Partners

  2. SMALL BUSINESS ADVISORY BOARD SERVICES • Experienced business owners or executives will be assigned to help your company • They will guard what they learn by signing a Non-disclosure Agreement • They will serve at no charge OUR COMMITMENT TO YOU

  3. Consider a SCORE Advisory Board 1 EXPERTISE YOU CAN'T BUY 5 Great Reasons 2 BUSINESS CONTACTS WHEN YOU NEED THEM 3 BENEFITS OF A FORMAL BOARD, BUT NO HASSLE 4 STRENGHTEN YOUR BRAND 5 BE MENTORED

  4. KNOW DID YOU At 5 Years Most Start-ups Are Still In Business!

  5. KNOW DID YOU Small Businesses Make-up Almost 90% of All SC Companies

  6. Hometown Success Stories

  7. What More do You Need to Know? KNOW DID YOU • About your Costs • Competitors • Size of Your Market • Break-even Volume • Customer Loyalty • Using Social Media • Measuring Performance • Pricing SCORE Can Help You greateraiken.score.org

  8. SUPPORTING SPONSORS & PARTNERS

  9. GREATER AIKEN SCORE……. Recognized for outstanding small business community impact • ‘Platinum’ status 2014, 2015, 2016, the highest Chapter distinction awarded (among six chapters in South Carolina) • South Carolina Chapter of the Year in 2015 & 2016 • Ranked 5th nationally for 2016 (among 320 chapters)

  10. SMALL BUSINESS • ADVISORY BOARD SERVICES • Experienced business owners or executives will be assigned to help your company • They will guard what they learn by signing a Non-disclosure Agreement • They will serve at no charge OUR COMMITMENT TO YOU

  11. Consider a SCORE Advisory Board 1 EXPERTISE YOU CAN'T BUY 5 Great Reasons • 2 • BUSINESS CONTACTS WHEN YOU NEED THEM • 3 • BENEFITS OF A FORMAL BOARD, BUT NO HASSLE • 4 • STRENGHTEN YOUR BRAND • 5 • BE MENTORED

  12. 2,667 Small Businesses Drive Aiken County Employment KNOW DID YOU 12 Organizations Drive the Other Half of All Employment

  13. KNOW DID YOU At 5 Years Most Start-ups Are Still In Business!

  14. Hometown Success Stories

  15. What More do You Need to Know? KNOW DID YOU • About your Costs • Competitors • Size of Your Market • Break-even Volume • Customer Loyalty • Using Social Media • Measuring Performance • Pricing SCORE Can Help You greateraiken.score.org

  16. SUPPORTING SPONSORS & PARTNERS

  17. Business Plans Understanding and Writing Business Plans

  18. Business Plans Understanding and Writing Business Plans

  19. Let’s be real and lay out a Plan !!! • No two businesses fail for the exact same reasons. But the businesses that do succeed always have Business Plan.

  20. Purpose of a Business Plan • Commitment • Objective View of Business • Communication Means • Foundation for the Future

  21. Keys for Successful Plan • Prepare a concise 4-7 page plan in your own words. • Describe your understanding of the business need and market opportunity. • Demonstrate you completed your market research. • Assess the competition. • Explain your competitive advantage.

  22. Business Plan Powerful Communication Tool • Know Your Audience • Internal • Employee(s), Management Team • External • Document Used for Financial Funding • The Business Plan is Your Tool and the Foundation for Your Strategy

  23. Typical Business Plan Sections • Executive Summary • Business Description • Product & Services • Marketing, Selling and Pricing • Financing • Appendices

  24. Executive Summary • Written as the Business Plan summary in a way that captures the audience and/or reader’s attention. • Features • Product Features and Benefits • Competition • Expectations, Hopes, and Challenges • Financing • Payback and Profit

  25. Business Description • Mission Statement – 2 short sentences • Business Description • LLC, Sole Proprietorship, Franchise • Management Team • Marketing • Customer Service • Accounting • Legal • Administration

  26. Products & Services The MEAT of the Business Plan

  27. Products & Services WHAT IS YOUR COMPETITIVE ADVANTAGE?

  28. Marketing & Selling Define the Ideal Customer Determine How You Will Sell to that Customer

  29. Pricing • Must Cover All Your Costs • Materials, Labor, Overhead • Be Aware of Competitors’ Prices • How Many Units Do You Need to Sell to Make a Profit • A Higher Price is Justified if Your Product or Service Has a Competitive Advantage

  30. Financing Forecast how much you are going to sell over the next 3 years. The most deadly contributor to startup failure is not knowing how to manage the business finances.

  31. Appendices • Resumes of Personnel • Break Even Curves • Balance Sheet • Cash Flows

  32. Mistakes to Avoid In Writing a Plan Wasting Time on a Plan You Do Not Need Starting from Scratch Sharing TOO Much Putting Formality above Creativity Failing to Think Ahead Writing Something You Cannot Stick To

  33. Useful Resources on the Internet score.org sba.gov/tools/business-plans Bplans.com

  34. Handouts Available for YOUR Use SCORE Simple Steps for Starting Your Business SCORE Outline of a Business Plan SCORE Business Plans for Startup SBA Business Plans Bplans Business Planning Guide It is important to remember that the contents shown in this brief seminar session should be treated as a guide, and not as a rigid, all encompassing format !

  35. Keep Your Business Plan Alive Thru USE I thought I was on the road to success, but my GPS maps were out of date !

  36. Questions & Answers CONTACT Your Greater Aiken SCORE Counselors at: Tel: 803 641-1111 (Aiken Chamber of Commerce) 803 279-2323 (North Augusta Chamber of Commerce) SCORE can assist you in reviewing and commenting on your DRAFT Business Plan !!!

  37. Let’s Examine What We Have Learned • Exercise - Ice Cream Business Scenario • Two Partners are venturing to start a business of selling ice cream at the local AA baseball park. They have obtained permits for a food concession and have obtained park owners’ permission provided a percentage of gross profits is returned to the park owners. The baseball season is about to begin and the partners are pressed for time to launch their venture. • What considerations should be undertaken and what descriptions should be covered in their business plan. Use the handout sheet to formulate your ideas. • You are Free to think this out …… but must clearly state your reasoning. Write down your reasoning and be ready to discuss the part of the business plan assigned in 15 minutes.

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