Entrepreneurs can ‘SCORE’ big through expert advice – Volunteers are eager to tutor business novices

One of the best-kept secrets in the world of business is that there are literally thousands of experienced, successful business advisers who are available and eager to help entrepreneurs launch new ventures. And, remarkably, this counseling and mentoring is free!

By David M. Brown
Brigham Young University

http://deseretnews.com/dn/view/0,1249,595077611,00.html

These services are provided by a national organization called Service Corps of Retired Executives (SCORE). SCORE is a nonprofit association headquartered in Washington, D.C., and is a resource partner of the Small Business Administration. SCORE has 389 chapters in the United States and has more than 12,400 retired and working executives who volunteer their time and business expertise to help today’s entrepreneurs.

These volunteers have specific industry and general business expertise. Members may be retired business owners, business executives or operations managers. A number of members are still working full-time and are many years away from their own retirement. All SCORE members receive specialized training offered by the association.

SCORE has a 40-year track record of providing training and counseling assistance to small businesses. The organization has helped more than 6 million people better understand their businesses and realize their business dreams.

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In and around Missoula, please contact: http://www.missoulascore.org

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Last year, the Salt Lake SCORE chapter provided one-on-one counseling, free of charge, to more than 3,900 current and prospective business owners. Assistance included advice on business planning, marketing, business start-up or expansion, retailing, business financing, choosing the right business structure and general business management.

In addition, low-cost workshops ($20 to $75) are available to help you either start a new business or develop new strategies for an existing business. These workshops are presented by practicing professionals who volunteer their services in an effort to provide accurate and current information to small businesses. Bankers, attorneys, certified public accountants, insurance professionals, marketing experts and many other professionals bring their work experience to the classroom, where they provide practical information that is essential for a new business owner.

Among other things, the workshops will tell you how to: form a limited liability company; incorporate your business as an "S Corp."; plan and get ready for business; choose the right structure for your company; finance your business; apply for a business loan; keep records and comply with tax codes; properly insure your company and key personnel; and develop sales, marketing and advertising strategies.

The SCORE Web site (www.SCORE.org) provides a wealth of information, including numerous templates of real business plans and financial and accounting statements that can be copied to your hard disk for future reference. These templates will save you considerable time and provide real help in preparing business plans, bank loan requests, break-even analyses, competitive analyses, financial histories, ratios and many other much-needed reports and papers.

SCORE has been referred to as the "grandfather of all mentoring organizations." Its army of professional volunteers is dedicated to providing entrepreneurial education to help in the formation, growth and success of your business.

If you want to SCORE really big, contact the Salt Lake office at 1-801-746-2269, the Ogden office at 1-801-629-8604 or the national office at 1-800-634-0245.

David M. Brown is affiliated with the BYU Center for Entrepreneurship. He can be reached via e-mail at [email protected].