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Www.scorela.org Tens of thousands of Americans commence actions to start a business every year. What is the success rate? Approximately 10% to 25% actually.

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Presentation on theme: "Www.scorela.org Tens of thousands of Americans commence actions to start a business every year. What is the success rate? Approximately 10% to 25% actually."— Presentation transcript:

1 Tens of thousands of Americans commence actions to start a business every year. What is the success rate? Approximately 10% to 25% actually start a business. Approximately 20% of the businesses started last 5 or more years. This means that: ONLY 2% TO 5% OF THOSE PEOPLE WHO TAKE ACTION TO COMMENCE A BUSINESS ACTUALLY START ONE THAT LASTS MORE THAN 5 YEARS !!! Improving your clients’ chances of success

2 It is very difficult to start and grow a successful business. It takes planning, hard work, discipline, passion and commitment. Clients need to take the steps within their control to maximize their chances of being one of the 2% to 5%. What does this mean?

3 Find a mentor or mentors who work well with them. (THIS IS BY FAR THE MOST IMPORTANT STEP) Prepare a list of the key steps to complete: To be in a position to actually “open the doors” of their business. To lay the foundation for successful growth after start- up. Perform a frank evaluation of: Their business idea Their personal skills/traits Their commitment and passion Continue to work with their mentor(s) after starting the business. Key Steps within their Control

4 Brings order and structure to the “chaos” of starting and growing a business. Gives the client a much clearer picture of where they are going and how to get there. Significantly upgrades the experience, expertise and resources supporting their efforts. Provides them with an advisory board. Forces them to be honest with them- selves. Benefits of Key Steps

5 Guidance Creating the list of start-up steps Performing a frank self-evaluation Setting priority objectives and actions/timing to achieve them (and indentifying appropriate Score workshops) Finding other people (mentors, etc) to help the client Provide: General business advice and brainstorming ideas Encouragement when the client face obstacles Be a sounding board particularly regarding business strategy Hold the client accountable to their commitments. Importance of Mentors

6 Customize the Score’s generic start-up list to fit the client’s circumstances. Each item will require its own sub-list of actions. In most cases the business plan should be completed first, in particular: The viability of the client’s business to generate and grow sales. The amount of funding the client needs and their ability to obtain it. Key Steps to Open the Doors

7 Now and at various points in the process objectively evaluate: The viability of the business model. Their personal experience, skills and traits. Their passion for and commitment to achieving their goal. The process of starting up a business will test all of the above as they proceed. The client should treat the process as if it is a job and they need to show up on time and put in a full effort or they will be fired. Self Evaluation

8 Set objectives to be achieved within a certain time frame (e.g. 14, 30 days etc). Determine the days in the week and hours on those days the client will work on the project. Determine the frequency of contact/meeting with the mentor(s) Prior to each mentor contact/meeting: Provide a brief progress report Any materials that the client wants their mentor(s) to review Their agenda for the meeting Follow the agenda at the meeting. Schedule the next meeting and the mentor(s) The client’s takeaways from the meeting Any new objectives Effective Project Management

9 HOW CAN SCORELA ASSIST THE CLIENT IN MAKING THEIR DREAM COME TRUE? We offer over 70 very capable mentors at no charge. We offer the following resources that will assist the client to identify and complete the key steps to start their business. Workshops given by experts in their field A website containing significant “how-to” information (e.g. business planning, sub-lists pertaining to many of the key steps on your list, etc.) In short: SCORELA is a near one stop shop providing support that will significantly help the client to take the key steps within their control to maximize their chances of being in the 2% to 5%. How can SCORE help?

10 Workshops Offering ongoing workshops including: Starting Your Own Business Creating a Successful Business Plan Financing Your Business Marketing Franchising Creating an On-Line Presence Promoting and Protecting Your Invention The Use of Social Media And Others

11 Services Face-to-face counseling at no charge counseling at no charge Business workshops - nominal cost Website resources at Free presentations from highly successful entrepreneurs


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