Hssba New Client Presentation
- 2. Small Business Life Cycle Source: Small Business Association 2
- 3. Business Statistics Failure Rate - Most (60% to 80%) of small businesses fail within five years of starting. Common Causes of Small Business Failures: Lack of experience - Not having sufficient know-how to run a business in the chosen market or area Lack of expertise - Not having expertise in the essentials of business operations, including finance, purchasing, selling, and production Lack of strategy - Not taking the time to craft a vision and mission, nor to formulate and properly implement strategy Poor financial control - Failing to track the numbers and to control business finances and credit. Growing too fast - Not taking the time to consolidate a position, fine- tune the organization, and systematically meet the challenges of growth Insufficient commitment - Not devoting enough time to the requirements of running a competitive business Ethical failure - Falling prey to the temptations of fraud, deception, and embezzlement. 3 3
- 4. Why Us? Traditionally when a business gets started, an Accountant or Attorney is hired to set up the legal entity (articles of incorporation, certificate of formation, tax id etc), which is in fact the first step of starting a business….. but what happens after that? Where do small business owners go to establish their Business Profile (DNB # / Paydex Score, Experian #, References etc.) to improve the company’s chance of receiving financial services such as loans, credit lines, lease and credit accounts? Who do they call to help them identify financial programs that are available? What about business, marketing or strategic plan development? Don’t forget about logos, websites, business cards, communication support (voicemail, fax, and email) and marketing material? Each element is essential to successfully launching, sustaining and growing a small business and Head Start Small Business Advisors can affordably provide them all to you! 4
- 5. Top 5 Mistakes Made by Small Business Owners #1 – Not Hiring Head Start Small Business Advisors to Assist with Their Small Business Needs. #2 – Not Properly Incorporating / Managing Their Business. #3 – Using Personal Credit to Finance Their Business. #4 – Applying for Business Financing (Credit Lines / Loans) Before Establishing a Business Credit Score and Payment History. #5 – Believing that Great Business Credit Revolves Around Having Bank Accounts and A Couple of Corporate Credit Cards. 5 5
- 6. Advantages of Working With Us! We empower YOU, the small business owner, to establish a solid foundation by building a business profile (from the ground level) that will demonstrate stability and corporate structure to customers, vendors and financial institutions. We empower YOU, the small business owner, to have the financial freedom and flexibility to successfully launch your business. We empower YOU, the small business owner, to have focus that will allow you to concentrate on day-to-day growth strategies, sales projections and financial gain(s). 6 6
- 7. Our Services! Business Profile Builder: Incorporate Business w/ Secretary of State Establish Dun and Bradstreet Number Establish Tax ID Business Credit Builder: Establish NET 30 Accounts (Pay Off in 30 Days) Establish REVOLVING Accounts (Pay Monthly) Establish BUSINESS Trade Lines Establish PAYDEX SCORE / INTELLISCORE of 75+ Business Brand Builder: Establish Physical Presence (Office) Establish Market Presence (411 Listings, Business Periodical Listings) Establish Communication Methods (Phone, Fax, Voicemail, Email) Establish Marketing Tools (Logo, Website, Business Cards, Brochures, Flyers) 7 7
- 8. Our Services Cont.! Business Consulting: Fund Raising / Fund Verification Financing (Equipment Leasing etc.) Accounting Marketing Sales / Business Development Business Planning Strategic Planning Project Management SAP IT Graphic Design Power Point Presentations Web Development 8 8
- 9. Summary Until now, business consulting of this magnitude has been out of reach for the majority of small business owners. Mainly because consulting firms have “traditionally” been to expensive to retain. The fact remains, however, that in order to achieve short and long term objectives, small business owners “must” be able to tap into the expertise, experience, strategic direction and resources that business consultants have to offer. Head Start Small Business Advisors completely understands the challenges that you face….. Help us help you overcome them. 9