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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How To Price My Products or Services?

What Price Should I Be Charging? Setting the proper prices for your products and/or services is a critical element to determining the success of your business. The right price will help you to be competitive in the market place as well as profitable. The four briefs referenced below will provide the detailed information you will need to establish your pricing model. PRICING PROCEDURES FOR RETAIL When your company purchases and sells a product, the revenues derived from sales of the product will directly affect the … 
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Crowdfunding 101 Introduction

This post is intended to provide the business owner an overview of the key elements of crowdfunding [CF]. Crowdfunding is getting a “crowd of people” to donate money, for a specific cause or project, in exchange for various rewards/returns, using a specific web site based tool [called a platform]. The word crowdfunding is an umbrella term that includes 4 different funding relationships between individuals and organizations, connected through an internet based platform. Four (4) Types of Crowdfunding REWARD Based Crowdfunding: Investors give money and receive a … 
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Inventory Accounting and Control

Businesses that buy merchandise for resale or who use material to produce a product must account for that material before it is delivered to the customer. All of this physical material, including supplies that are part of the final product, is classified as: Merchandise – goods acquired by wholesalers or retailers for resale including goods held for sale in display rooms or out on consignment Raw Material – items that will be a component of a produced good Work-In-Process – the accumulated costs of partially … 
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Creating and Distributing a News Release

The news release is the standard format to use when sending communications to the media. The following provides general information about constructing a news release as well as some good pointers about content. Please refer to Brief 06.07 Writing for the Media brief for additional information. FOR IMMEDIATE RELEASE: CONTACT: (Make sure the person listed is readily available to answer media contacts) Name: Company: Phone: Website URL: Headline Centered, Bold — use active verbs to tell what the release is about Keep it short — … 
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Do’s and Don’ts of Using Social Media in Business

Do’s and Don’ts of Using Social Media in Business Introduction Before beginning to create a plan to use social media to market any business you must first create a business plan. Doing anything with social media should be among the last things you do before launching your business. You must understand which audience you want to target and where they are before reaching out to them. The next most important thing to remember is the Internet is not a toy. The Internet is truly a … 
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Starting a Business

This brief roundup will share five guides for specific businesses that you may want to investigate prior to jumping in with two feet. Often there are a lot more elements to be considered than we may initially think about when starting a business. Don’t start blindly instead be informed of what you can expect. Child Day Care Requirements in Cincinnati The information presentedvin this brief for the City of Cincinnati is intended only to provide a general picture of the industry, a partial checklist, and … 
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Operating a Consulting Business

INTRODUCTION Consultants offer particular skills and know-how to others who will pay them to provide advice, assistance, and/or solutions. Some business owners don’t want to do certain tasks, others find some tasks not cost-effective to do in-house, still others simply lack the knowledge to solve particular types of problems. These situations are where a competent consultant fits into the picture. A consultant can aid a client by providing such services as: research, marketing surveys, planning, evaluation of a method in use or being considered, training … 
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What About Franchising?

For many entrepreneurs, franchising is a way to start a business with an established brand name in the marketplace. There are several pros and cons to franchising that every entrepreneur should understand before getting involved in a franchise agreement. Research a franchise opportunity completely to determine if it is the right business for you. Marketing Support A franchise company has spent years establishing a brand name and finding effective marketing programs. As a franchise owner, you would have the benefit of using that experience to … 
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How To Form a Nonprofit Organization

Contact: Melinda Zemper Feb. 1, 2016 Phone: (513) 706-3737| Email: mzemper@fuse.net New SCORE Seminar to Help Entrepreneurs Form a Nonprofit Organization Volunteer arm of SBA offers 45 SCORE workshops per year Greater Cincinnati SCORE, business volunteers who help entrepreneurs start up and run small businesses and nonprofits, will offer a new seminar on “How to Form a Nonprofit Organization.” The seminar will be held Saturday, March 19 from 8:15 am to noon at the Hamilton County Development Center in Norwood. It is one of 45 SCORE … 
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