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Starting: Do You Have the Moxie?
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New Entrepreneur Resources

Are you an adventurer with a vision? Do you imagine a new product or niche service? Businesses do thrive in tougher economic times. It’s a combination of the right idea & sound execution.

If you are thinking of staring a business, here are some resources to help you start the planning:

Fast Track: 5 Tips to Jumpstart Your Biz
From Entrepreneur.com: 10 Traits of Entreprenuer’s
Quiz: Are You Ready to Be Your Own Boss?
10 Tips: 10 Resources to Help You Start Smart.

You can talk to a mentor even as you are thinking about a business. Is it right for you? What does it take to get started? How do you fund the first year? You may plan to own a business, but you don’t have to be alone in business. Ask a SCORE mentor for advice online.

Do you have some tips & links for new entrepreneurs? Add a comment.

-Christine Banning, SCORE
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SCORE
For 50 years, SCORE has helped aspiring and current small business owners achieve their dreams. Through a network of over 11,000 volunteer business mentors in 340+ chapters across the country, SCORE connects decades of business experience and knowledge with those who can best use it.
www.SCORE.org | Facebook | @SCOREmentors | More from SCORE

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Managing: How Should You Manage Business Cash Flow During Tough Times?
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Manage cash flow carefully

“Cash management should be a significant part of good business management in both ‘good’ times and ‘tough’ times,” says Bob Paul, my fellow counselor from SCORE Chicago.  “Improve cash flow both by reducing expenses AND increasing sales. Don’t focus just on the expense side.”

Paul knows what he is talking about.  He was Vice President of Credit and Collections at John Deere for a multi-billion portfolio of loans to businesses and individuals.  Here’s his RX for today’s entrepreneur:

Increase sales efforts

  • Improve your lead generation process to find new potential customers.
  • Convert more potential customers into buyers.
  • Find ways to get more repeat business from old customers.
  • Offer and encourage the purchase of add-on products and services to increase average transaction sizes.
  • Revisit pricing and look carefully at profit margins.

more…

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