Category Archives: Counseling Tips

Key Financial Ratios

Financial ratios are designed to measure aspects of financial performance. These ratios can be meaningful used alone, but are generally more useful when compared to other companies in the same or similar industries. These comparisons will identify variations from the norm which may then warrant management attention. See RESOURCES, below, for more ratios and sources of industry data. In addition, as with other measures, how these ratios change over time can be important to identifying trends, either problem areas or areas that have shown improvement. … 
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Selecting a PR/Marketing Agency

While Public Relations and Marketing are two separate functions, they share many of the same considerations when selecting an agency for your company. After discussing these considerations we will consider what is unique to each function. Base the decision on value Make a decision about your agency based on the value it can deliver, not on price alone. A good agency will match the best mix of activities against your budget to maximize the results. Is the prospective agency interested in your company? A strong … 
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Legal Considerations Brief Roundup

Legal considerations are not to be ignored by small business owners. The easiest way to avoid any problems is to be prepared. Preparation should begin with choosing your attorney before you need one. Your Business Attorney 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, … 
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Eight Inexpensive Marketing Strategies

From: In a recent marketing workshop I attended, I discovered that most business owners rely on just two or three marketing strategies to attract new business. However, there is a multitude of ways to drive new business to your door. Here are a few: Networking. Networking is perhaps the most commonly used approach by small business owners. However, it is often poorly executed. Many people attend a networking function and take the wrong approach by trying to meet as many people as they can. … 
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Effective Elevator Speeches

Effective Elevator Speeches that Leave a Lasting Impression by Julie Brander An elevator speech is a short introduction of who you are and what your company does in about 200 words or less. It should highlight your uniqueness and focus on the benefits that you provide. It is delivered in an enthusiastic upbeat way, introducing yourself, shaking hands, having eye contact, engaging the potential client and handing out a business card. A good elevator speech would include: The services or features that you provide. The … 
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SCORE Mentoring

SCORE has been counseling new and existing businesses for over 50 years in the Greater Cincinnati and Northern Kentucky area and has a network of over 100¬†business executives who donate their time to help entrepreneurs.¬†Sign up today for free confidential business counseling in a one-on-one or group setting tailored to fit your needs. Counseling can be conducted at the client’s place of business or at one of our many greater Cincinnati locations. To help you to better understand the mentoring process, we have included below … 
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Five Pillars of a Satisfying Volunteer Job

SCORE’s own Dick Wendel has developed the Five Pillars as a way to help you determine if your volunteer work is satisfying to you. The criteria are: Volunteer work should be fun and punctuated by a variety of engaging activities. It should be something you look forward to. Volunteer work should offer a social outlet and involvement with people you like and with whom you share cordiality. It should create a sense of belonging. Volunteer work should provide a learning experience that, aside from adding … 
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Lessons Learned – All in the family!

In counseling it is judicious to avoid getting in the middle of a dispute and negotiation between family members. Case in Point: A physician who owned all the shares of a very successful and profitable medical corporation Sub S Corp with 7 doctors, asked for counseling to smooth the succession and transition of leadership roles in the corporation. The father of the owner had founded the practice and, despite his intentions to retire and encouragement from others to retire, had shown no inclination to back … 
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Get Paid Now

By: Gene Marks Don’t you just love calling on deadbeat customers and being given excuses like “your invoice got lost” or “we only process checks once a month?” Kimberly Martinez has seen this movie, and she hated it. Her $2 million (sales) fashion accessories firm Bonitas International sells lanyards, “organza bags” and other things my teenage daughter and wife would buy. About a year ago Martinez’s wholesalers were taking their sweet time paying her and she was about ready to explode. Then Martinez signed up … 
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Front Office – Back Office – Do you have them covered?

An entrepreneur can create a wonderful pizza or perhaps sell it. Others simply buy pizzas and eat them. Late last week I attended a presentation put on by a SCORE Mentor from our Dayton Chapter. His name is John Talty and he is a forward thinking individual with a very strong background of marketing with NEC. There were many facets to his presentation but one significant take-away for me as a mentor/counselor is that as we develop a relationship with a new client, we need … 
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