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Newsletter Archive

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The Small Business Advisor Newsletter for March, 2003

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CONTENTS
Notes, tips, etc
I want to start a _______ business!
Image is really Important!

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NOTES/TIPS/etc
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VETERAN OWNED BUSINESS. If you are a vet-owned business you should visit the Center for Veterans Enterprise at http://www.vetbiz.gov to learn about their services. They work with the SBA’s Office of Veterans Business Development. Find out how they can help by visiting http://www.sba.gov/VETS.
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If you have employee’s fraud can be a problem. Take steps to prevent and detect:

1. Make sure employees have a way to report fraud.
2. Examine your books periodically
3. Set a good example
4. Prescreen employees carefully
5. Perform regular bank reconciliation’s
6. Have a written code of ethics
7. Secure inventory and supplies
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See if you qualify as a “small business.”
https://eweb1.sba.gov/naics/dsp_naicssearch2.cfm
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Check out some ideas on how to be successful with your business:
http://www.sba.gov/starting/indexsuccess.html

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I want to start a _______ business!
by Robert Sullivan

One of my most frequently asked questions is, "I want to start a (insert specific business here) business - where do I start and/or find information."

AFTER you have schooled yourself in the basics of starting a (any) business such as by reading articles available on The Small Business Advisor (http://www.isquare.com) or on many other small business related websites including the SBA at http://www.sba.gov, here are some hints on finding information that relates to the specific business you are interested in:

1. Visit similar businesses that are nearby - talk to the owners. You might be surprised at how much information you can find with this technique. Small business owners love to talk about their business - even if they view you as a possible competitor.

2. Visit a local large bookstore such as a Borders or Barnes & Noble and browse the small business shelves. You will find many books devoted to specific businesses. Here are a couple we like:

101 Best Home-Based Businesses for Women by Priscilla Y. Huff
100 Low-Cost Businesses You Can Start Today by Entrepreneur Magazine

Both are available at bookstores or Amazon (http://www.amazon.com)

3. Visit your local library and ask at the reference desk for a copy of their periodical reference. This thick volume will contain listings of periodicals covering specific business areas. Contact the appropriate periodicals and get a sample issue.

4. While at the library also review their association's reference. Here you will find hundreds of associations devoted to every imaginable topic. One or more might be useful to you. Industry specific associations generally have a variety of information available that will be useful to you. There are Associations for everything, for example;

American Alligator Farmers Association
American Art Pottery Association
American Beauty Association
American Furniture Manufacturers Association
Clowns of America
National Association of Child Care Professionals
National Chimney Sweep Guild

…. There are thousands ….!

5. Do an online search for your specific business - the Internet is a fantastic source of information and data.

6. For wholesale product information for many businesses check out The Thomas Register. The library will have this reference (about 20 volumes!) and it is online at http://www.thomasregister.com.

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Some really good advice … ed:

IN BUSINESS, IMAGE ISN'T EVERYTHING; IT'S THE ONLY THING!
by Chuck and Sue DeFiore

We have all heard this lament, but how much do we practice it. With all the relaxed rules today, do we really present ourselves in the best light. It seems all the articles I see today are about how old fashioned today's workers find their supervisors or bosses to be in the way they dress, the policies they implement and the old fashioned ways in which they conduct their business.

I am of the belief, and will continue to believe, that the first impression I make is the lasting one. Whether it is by phone, web site or in person, I want to present myself in the best possible light. But then again, I am from the old school, the one today's workers are complaining about.

Let's look at the companies that are still standing. After all the hoopla has passed, the companies that have used the fundamental principles of Business 101 are the ones still among us. The Intels, IBMs, Burger Kings, AT&Ts, Sears, Microsofts, Dells, Gateways, etc.

I am not advocating living in the dark ages. I believe for a company to survive it has to move with the times, but the basic structure and foundation on which we have built our business - image, courtesy, ethics, the customer being right, are the cornerstones to running a successful business, whether it is home-based or not.

Too many home-based business have taken the pajama mentality into all of their business practices. I have called on businesses that have cute messages on their machines, music that is obnoxious, children answering the telephone, screaming televisions, radios in the background. This does not inspire confidence in me to do business with this person.

That is not to say I have not had reservations about companies that have offices outside the home. In fact, it was a call placed to one that inspired this article. When I called and spoke to the owner of this business, she had no idea on how a particular process worked or what it's cost would be. Wow, it's her business and she doesn't know how it works or what it costs. Guess who I didn't do business with. I am not saying you have to be an expert, but at least know the basics and tell me you employ an expert in that area that will be better able to help me, don't hem and haw and tell me you don't have a clue. This does not give me a good impression of you or your company.

There are businesses in corporate offices that are more fun houses than companies...and they don't inspire any confidence in me either, so I am not picking on home-based businesses.

The purpose of this article is to remind all of us (home-based and non-home-based) that how we present ourselves is of paramount importance.

When you answer your telephone, answer it in a professional manner. When you go to an outside meeting, if you are home- based, dress for the meeting, not for home. If you have clients come to your home, be sure it is presentable, and that you are too. Just because you work out of your home, does not mean, shorts and a T-shirt are appropriate for meeting a client. Have your identity package (business cards, letterhead, brochure) done professionally, proofread and spell check any correspondence that leaves your office.

Your first impression, whether in person, over the web, by phone, or correspondence is a lasting one. Make it a good one and you'll have clients for life if you treat them right - the old fashioned way.

The only place I've ever found I was wrong is with restaurants. Some of those little holes in the wall have turned out to have the best service and the best food, so I guess when it comes to businesses, you can't judge all books by their covers, just most of them.

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