The Elevator Pitch

What is an elevator pitch? An elevator pitch is an overview of your business that can be conveyed within 30 seconds (30-80 words) during the ride of an elevator. It should leave your listener wanting to know more. Elevator pitches can be written for products, people or businesses. Why would you want an elevator pitch? There are a variety of advantages in defining your elevator pitch or mission of your small business and much of your marketing efforts will be based around this. Without one … 
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Leasing Versus Buying Equipment

Should you lease equipment for your factory, warehouse, store or office, or should you buy it – – assuming Your capital is limited and you must borrow or lease to finance the purchase? Factors Favoring Leasing Leasing eliminates the immediate need for sizable amounts of cash up front. There is no down payment, other than one or two months of prepaid rent. Lease charges are spread over a comparatively long period of time; individual payments are usually lower than service on debt. Restrictions placed on … 
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Sales Agreements for Service Providers

Whenever a supplier of services sells to its customers it is vital that a written agreement be established spelling out the specific services to be provided, when, at what price and other pertinent terms. This written document takes the form of a Sales Agreement Contract. In many instances this Sales Agreement is the supplier’s signed proposal with a place for the buyer to sign his acceptance of the proposal. The key elements of the Sales Proposal are: Supplier’s company logo Contact information including company name, … 
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Partnership and LLC Operating Agreements

Checklist of Points to be Considered in Partnership and LLC Operating Agreements: A partnership (a dual member Limited Liability Company (LLC) is similar to a traditional partnership) is a person or an association of persons with the purpose of forming and operating a business enterprise. Like corporate by-laws, the central legal document for a partnership, a Partnership Agreement, or an LLC Members’ Operating Agreement, governs the workings of the business, and provides a clear outline of the rights and responsibilities of all of the Partners … 
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Marketing and Advertising for Small Business

Marketing and advertising are critical areas for every business owner to embrace to help their business thrive. As the owner you may not be conducting the marketing but you should have a firm understanding. Our brief library contains content on all of the subjects below. Advertising Advertising is part of an overall Marketing Plan. It’s the way you reach your target potential customers, at the proper time, in the proper place. It is the way to get the word out that you are in business … 
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Four Ways to Market Your Website

In this post we will identify for the business owner the only four techniques that can be used to draw potential users to the web site. This is typically referred to as “web site marketing.” Note that this is commonly, but mistakenly, called “search engine optimization” or SEO. We will not cover the techniques for using your web site to market your product/services; covering such issues as presenting your product/service; establishing a market basket, dealing with available inventory, estimating shipping cost and time, downloading product … 
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So You Want to Own Your Own Business

Last Wednesday over 20 people attended the first workshop presented by the SBA and SCORE for people interested in starting a business. Mr. Richard Dumaine from SCORE helped the attendees do a skill assessment to determine if owning a business was right for them. The audience seemed most interested as some common myths about being a business owner were reviewed and dispelled. Mrs. Nicole Pickard first presented an overview of what the Small Business Administration’s role is and how it helps small business entrepreneurs. She … 
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Patents for Small Businesses

This Post is a general overview of patents. Please check the U.S. Patent Office website, uspto.gov, for the most up to date information. Caution: Note for Small Business Owner: In general, patents are seldom obtained by small businesses due to the (detailed herein) overall cost of from $100,000 to $150,000. Legal fees alone can cost from $75,000 to $100,000. An issued patent is of value when it is: (1) sold; (2) scares a competitor from using the patented concept or (3) when the patent is … 
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Your Business Attorney

Developing a relationship with an attorney for your business as you begin to launch your business and/or before you need their services can make the process of finding an attorney easier and less stressful. What legal services can an attorney provide your business? Select and implement your legal form of business organization LLC: understand the benefits and limitations of this form of legal protection Multiple member LLC or partnership: draft operating and buy-sell agreements between partners Sub-S or schedule-C corporation: draft corporation buy-laws, buy-sell agreement … 
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Finance Your Business

There are several potential sources of funds for start-up businesses. Among these sources are loans, which could include: funds from the owner’s savings (treated as a loan); a second mortgage loan; charging against credit cards; loans from friends or relatives; bank business loans; credit union loans; and, loans from federal/state /local government programs. There are many sources of microloans, which are generally loans of up to $30,000. Historically, however, the seed money for most businesses has come from the owner’s personal savings. On average, less … 
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