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Washington, May 24, 2023 /PRNewswire/ — To run a successful small business, entrepreneurs must focus on what problem their service or product solves, according to /PRNewswire/. ScoreAmerica’s Small Business Leader and Resource Partner of the US Small Business Administration.
getting started
SCORE client Iyobosa Erotic (right) developed Chicago-based online travel solution Preparure with support from SCORE Mentor Steven Lome.
Starting a business can be a daunting task, especially if you’re a sole proprietor, and writing a business plan may not be the top priority on your to-do list. But business plans are more than just outlining action items and financial projections. It also shows that your business should be taken seriously by funders, consumers and potential employees.
Basics of business planning
Every entrepreneur needs a business plan, but where do you start? Cheri BalesMentor of SCORE Kalamazoo/Southwestern Michigan, explained that the process need not be complicated. “The important thing is to put something on paper,” Bailes said. A business plan is a starting point, and it can be as simple as jotting down a few notes at first. The most important part of planning is the reasoning behind the business itself.
“As managers, we talk too much about what we say, but sometimes we talk about how we say it, but forget why,” Bailes said. . “What problem or problem is your business or service trying to solve?” By focusing on the “why,” you can differentiate your business and show what it can offer.
Entrepreneurs who want to learn more about business plans can free recorded webinars Led by Bailes National SME Week Virtual Summit It was held earlier this month. Co-hosted by SCORE and SBA, the online event also featured expert advice on topics ranging from how to use AI in email marketing to what small businesses need to know to prepare for a recession. Registration is free and you can watch any session on demand.
SCORE can help
The good news is that you don’t have to tackle it alone. SCORE Mentoring is a free service available to aspiring or established owners of US-based businesses. If you want to find a mentor, SCORE’s website A list of mentor profiles detailing the mentor’s area of expertise, location, and availability for online or face-to-face meetings. You can also request an interview with a mentor of your choice. Or, if you prefer, SCORE’s “Mentor Matchmaker” service will match you based on your business, preferences or specific challenges you face.
“When I first worked with SCORE, I had this idea for a business, but I didn’t know where to start,” said a SCORE client Iyobosaeroowner of online travel solution Preparure Chicago. “My mentor has been hugely influential in the development and continued development of Prepare.”
About the score:
Since 1964, SCORE has helped over 11 million entrepreneurs start, grow or successfully close their businesses. Her 10,000 volunteers at SCORE provide free expert guidance, resources and education in all 50 US states. Visit SCORE www.score.org.
Funded [in part] Through a cooperative agreement with the US Small Business Administration.
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