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SCORE Offers Free Business Counseling
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Rick German
Photo by Linda Karn |
(posted Mar 15)
If the Speedway Redevelopment Commission's calendar of events stays on
course, Main Street construction should start in 2010. The ticking clock
is starting to create some worries for Main Street merchants as to how
they will survive the construction phase without losing customers.
Sheilah Adams expressed concern that she would give up too much to keep
customers coming during construction on Main Street. Adams is the owner
of Alterations Plus. She worries about remaining competitive when Main
Street construction no longer makes it convenient for customers to get
to her business.
The Speedway Merchants Association is providing support to business owners and invited Senior Core of Retired Executives Mike McEvers and Rick German to explain their services of free business counseling at the March 13 association meeting. SCORE is a subgroup of the Small Business Administration.
German told the group that part of the advice includes having an accountant
and attorney. SCORE counsels people from how to start a business to business
expansions. They also help with creating financial statements, business
and marketing plans. Whether or not the threat of losing a business market
share is real or perceived, the importance of business survival is a good
marketing plan. A business owner might be "the best of the best"
and have the perfect business location, but "the marketing plan is
your salvation," he said.
McEvers said the biggest problem with small businesses is failing to market
themselves. Implementing a good marketing strategy requires discipline.
Often business owners get caught in the vacuum of the daily grind, forgetting
to set aside time to focus on marketing. He warned that getting sucked
into the vacuum of the everyday tasks creates reactionary thinking instead
of a creative, proactive thought process. Businesses can't stay status
quo with the price of gas and hedging for inflation.
McEvers explained that it does not matter what type of business it is.
He categorized all business owners as capitalists who need to make money
for the bottom line.
He used the Warren Buffet philosophy that an owner must be able to pay himself before the bills or something is wrong. The business owner should not settle for scraps.
Jennifer Lyttle of All Affaire Occasion Catering said the redevelopment
would benefit Main Street in the long run even though her business would
probably disappear at 4900 W. 16th Street, but she does not intend to give
up. She plans to take a proactive stance to keep her business viable during
the redevelopment.
Lyttle offers a catering services seven days a week and will work within everyone's budget. "I'll take every penny you are willing to spend. Holidays cost a lot more," she said.
Lyttle shared her cooking talents by providing sample desserts to the group.
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