Tens of thousands of Americans commence actions to start a business every year . What is the success rate ?

1. Improving your clients’ chances of success • Tens of thousands of Americans commence actions to start a business every year. • What is the success rate? • Approximately 10% to 25% actually start a business. • Approximately 20% of the businesses started last 5 or more years. • This means that: • ONLY 2% TO 5% OF THOSE PEOPLE WHO TAKE ACTION TO COMMENCE A BUSINESS ACTUALLY START ONE THAT LASTS MORE THAN 5 YEARS !!!

2. What does this mean? • It is very difficult to start and grow a successful business. • It takes planning, hard work, discipline, passion and commitment. • Clients need to take the steps within their control to maximize their chances of being one of the 2% to 5%.

3. Key Steps within their Control • Find a mentor or mentors who work well with them. • (THIS IS BY FAR THE MOST IMPORTANT STEP) • Prepare a list of the key steps to complete: • To be in a position to actually “open the doors” of their business. • To lay the foundation for successful growth after start-up. • Perform a frank evaluation of: • Their business idea • Their personal skills/traits • Their commitment and passion • Continue to work with their mentor(s) after starting the business.

4. Benefits of Key Steps • Brings order and structure to the “chaos” of starting and growing a business. • Gives the client a much clearer picture of where they are going and how to get there. • Significantly upgrades the experience, expertise and resources supporting their efforts. • Provides them with an advisory board. • Forces them to be honest with them- • selves.

5. Importance of Mentors • Guidance • Creating the list of start-up steps • Performing a frank self-evaluation • Setting priority objectives and actions/timing to achieve them (and indentifying appropriate Score workshops) • Finding other people (mentors, etc) to help the client • Provide: • General business advice and brainstorming ideas • Encouragement when the client face obstacles • Be a sounding board particularly regarding business strategy • Hold the client accountable to their commitments.

6. Key Steps to Open the Doors • Customize the Score’s generic start-up list to fit the client’s circumstances. • Each item will require its own sub-list of actions. • In most cases the business plan should be completed first, in particular: • The viability of the client’s business to generate and grow sales. • The amount of funding the client needs and their ability to obtain it.

7. Self Evaluation • Now and at various points in the process objectively evaluate: • The viability of the business model. • Their personal experience, skills and traits. • Their passion for and commitment to achieving their goal. • The process of starting up a business will test all of the above as they proceed. • The client should treat the process as if it is a job and they need to show up on time and put in a full effort or they will be fired.

8. Effective Project Management • Set objectives to be achieved within a certain time frame (e.g. 14, 30 days etc). • Determine the days in the week and hours on those days the client will work on the project. • Determine the frequency of contact/meeting with the mentor(s) • Prior to each mentor contact/meeting: • Provide a brief progress report • Any materials that the client wants their mentor(s) to review • Their agenda for the meeting • Follow the agenda at the meeting. • Schedule the next meeting and email the mentor(s) • The client’s takeaways from the meeting • Any new objectives

9. How can SCORE help? • HOW CAN SCORELA ASSIST THE CLIENT IN MAKING THEIR DREAM COME TRUE? • We offer over 70 very capable mentors at no charge. • We offer the following resources that will assist the client to identify and complete the key steps to start their business. • Workshops given by experts in their field • A website containing significant “how-to” information (e.g. business planning, sub-lists pertaining to many of the key steps on your list, etc.) • In short: • SCORELA is a near one stop shop providing support that will significantly help the client to take the key steps within their control to maximize their chances of being in the 2% to 5%.

10. Workshops • Offering ongoing workshops including: • Starting Your Own Business • Creating a Successful Business Plan • Financing Your Business • Marketing • Franchising • Creating an On-Line Presence • Promoting and Protecting Your Invention • The Use of Social Media • And Others

11. Services • Face-to-face counseling at no charge • Email counseling at no charge • Business workshops - nominal cost • Website resources at www.scorela.org • Free presentations from highly successful entrepreneurs