Improve Your Chances For a Loan

Getting a small business loan is not easy. Here are some tips from Robert Seiwert that offer a glimpse into how bankers think. 1. Get to know bankers at several institutions. Find out which banks in your area make loans to firms like yours. Some banks specialize in business loans; others don’t. Some specialize in lending only to certain industries. The best way to find out is to simply ask the bank. 2. Briefly summarize your firm’s value proposition and your strategic plan. If you … 
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Tips for an Effective Home-Based Business

You cannot operate a business at home successfully if you try to do it in a casual, ill-planned way. First, find out if you are suited for a business in a domestic environment. To be successful, you must treat your business as a bona-fide business. A solid plan, with dedicated execution of that plan. A SCORE counselor can assist you. In Cincinnati call (513) 684-2812. Advantages & Disadvantages You are in control of your working hours and free from someone telling you what to do. … 
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Three Quick Steps to Finding New Customers

Step1: Determine unique characteristics, approximate size and location of your trading area. How far will your average customer travel? The Statistics Family Expenditure Survey can identify what the average household spends on goods and services. Population forecasts for your area and planned construction are available. The internet can help identify names of your competitors.Your Chamber of Commerce and local business publication can give you insights. Step 2: Get out and study your competitors . Visit locations where their product is offered. Analyze the location, customer … 
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Cash Flow

What is cash flow, and why is it important? Simply, cash flow shows how cash comes into and goes out of a business. Cash flow statements report where money comes from, where it goes and when the cash flows occur. Most often, a company tracks cash flow in three categories: operating, financing and investing. Operating Cash Flow is the cash generated day to day when a company sells its goods and services. When customers pay for these, cash flows into a company. Cash flows out … 
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Four Businesses Named SCORE Greater Cincinnati Clients of the Year

Contact: Melinda Zemper Sept. 24, 2014 Phone: (513) 706-3737| Email: mzemper@fuse.net Four Businesses Named SCORE Greater Cincinnati Clients of the Year Cincinnati and national SCORE celebrate 50th birthday A nonprofit that builds self-esteem in girls through art, video production studio, exhibit fabricator and a tax franchise were named top greater Cincinnati SCORE Clients of the Year Sept. 19 at a Maketewah Country Club luncheon meeting. A Brush of Hope headed by Aimee Lowrance of Mason; JYSproductions led by Jason Young of Kenwood; Exhibit 3 Fabrications … 
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Innovation

Innovation, in a business context, is generally thought of as the product or application of creativity. Peter F. Drucker suggests that innovation “is the specific instrument of entrepreneurship.” Mr. Drucker further suggests that there are seven sources of innovative opportunity. Four of these relate to a specific industry or service sector: the unexpected; the incongruous; process needs; and structural change. The other three relate to the human and economic environment: demographics; changes in perception, mood, and meaning; and new knowledge. Let us observe some of … 
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Owner’s Checklist for Starting a New Business

Background work assess your strengths and weaknesses establish business and personal goals assess your financial resources identify the financial risks determine the start-up costs decide on your business location do market research identify your customers identify your competitors develop a marketing plan Business transactions select a lawyer choose a form of organization (proprietorship, partnership, or corporation, for example) create your business (register your name, incorporate the business, etc.) Get a web domain compatible with your chosen company name, or get an appropriate domain name first … 
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Break-Even Analysis

A significant advantage of some business ideas is that the venture can break even at what seems to be an easily achievable volume. A technique for quantifying that volume, called break-even analysis, examines the interaction among fixed costs, variable costs, prices, and unit volume to determine that combination of elements in which revenues and total costs are equal. Fixed costs are those expenses necessary to keep the business open, and are not impacted by sales volume. They will include such things as rent, basic telephone … 
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Sharpen Your Unique Selling Proposition

In his book, The Road Ahead, Bill Gates of Microsoft writes of “friction-free capitalism” made possible by developments in communications, chief among them the Internet and its World Wide Web. In this context, “friction” is everything that keeps markets from functioning as the “perfect competition” of economics textbooks. This friction can be a function of distance between buyer and seller, costs of overcoming this distance, and incomplete or incorrect information. Friction manifests itself by causing barriers to entry for new competitors, limiting the number of … 
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SCORE Greater Cincinnati Selects Betsy Newman as Executive Director

Contact: Melinda Zemper Aug. 1, 2014 Phone: (513) 706-3737 Email: mzemper@fuse.net SCORE Greater Cincinnati Selects Betsy Newman as Executive Director Hyde Park resident is author, speaker, business consultant Betsy Newman of Hyde Park, a speaker, business consultant and author of five leadership and career-enhancing books, has been selected executive director for the greater Cincinnati SCORE chapter. She begins her duties August 4. “Her role will be to take SCORE to even higher levels of achievement and recognition,” said Bill Haman, SCORE counselor and selection committee … 
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