Welcome to the SCORE Small Business Success Blog, where small business experts and mentors share tips, discuss trends, and provide advice on a wide range of topics affecting entrepreneurs in every industry.
The role played by a “Cash Cow” component in your business portfolio is often undervalued and overlooked. Simply stated, the term “Cash Cow” is a term commonly used to describe a product or service which consistently generates positive cash flow. Typically “cash cows” are well established and within the mature stage of the business cycle. As such they offer limited opportunity for growth and require minimal new investment.
Start-up businesses typically work with a limited cash reserve. As an initial step in your planning process, prepare a cash flow projection for the purpose of finding the point at which the business will reach a “breakeven” point” and subsequently begin to generate a positive cash flow. Despite the amount of research carried out by entrepreneurs, often revenue projections are overly optimistic and operating costs underestimated.
Many clients approach SCORE with ideas derived from established hobbies. Before investing large amounts of time and money to launch a new business the owner needs to consider whether It’s a realistic business opportunity or an expanded hobby.
Thinking of starting a business? Maybe you want to own a food truck. Maybe you want to sell products on the Internet. Maybe you have an opportunity to buy an existing business. Well, no matter what your business idea or ambition may be, you need a “BAIL” Team to help you be successful.
Many people tell you that entrepreneurship is not for the faint at heart. And many people going into business wonder why. Well, it’s because stepping into your dreams takes courage. Courage lies at the very seat of your soul.
The social scene is back! As the holiday season approaches, it’s easy to get overwhelmed with the influx of social and networking events available to our small business community. As a business owner, how do you effectively run your business while efficiently managing your time?
Welcome to Savannah SCORE! As the newly appointed Chapter Chair, it is a great privilege to lead our team of expert volunteers. Our number one goal is to inspire and assist the small business community that makes Savannah so unique. Over the coming months, you will notice a few enhancements to our local chapter including a new website, highlighting our local clients and mentor team; refreshed education programs that are relevant to today's business community; and an inclusive approach to ensure that our team accurately represents the entire local business community.
Like many business owners, you may wonder the purpose of business credit.
From adopting solid business practices to working with a goal-oriented mindset, there are several success secrets shared by AAPI business owners.