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Welcome to SCORE
Greetings!
SCORE, Service Corp Of Retired (and Working) Executives, Counselors to America's Small Business offers free counseling to St. Louis area small businesses. For more information contact us at 314-539-6600 Ext. 242 or www.stlscore.org to learn more about what SCORE offers. Main Office - 200 N. Broadway, Suite 1500, (In St. Louis Place), St. Louis, MO 63102St. Charles EDC office - 636-447-5000
St. Charles Development Center
5988 Mid Rivers Mall Drive
St. Charles, MO 63304
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BUSINESS ACUMEN:
THE
UNIVERSAL LANGUAGE OF BUSINESS
"Taking the pulse of your business"
What does your doctor do when you go in for a visit? He checks your weight, blood pressure,
temperature, and pulse. In the same way
you should check the pulse of your business by staying on top of the building
blocks of money-making.
When it comes right down to it, business is very
simple. Every business is the same
inside. There are universal laws of
business that apply whether you are one-person business or a very big
business. Successful business leaders
know them. They have what is called "business acumen" the ability to
understand the building blocks of how a business makes money.
The best business people, whether they are running a small or
large business, think the same way.
They know their cash situation, They know which items are profitable and
which are not. They understand the
importance of keeping their products moving, inventory turnover, and they know
their customers.
You have to know the total picture of how your company is
doing by answering the following questions.
- What
have your company's sales during the year? Are your sales growing, declining or
flat?
- Is
your company growing profitably?
- What
is your company's profit margin? Is
your profit margin growing, declining or flat?
- What
is your company's return on assets?
- R = Profit Margin X
Velocity(Sales/Tangible assets)
- How
does this compare with your competitors?
Other industries?
- Do
you know your company's inventory velocity? Inventory
turnover.
- Is
your company's cash generation increasing or decreasing?
- Is
your company gaining or losing against competition?
- What
are the external realities of your particular business? This is not an easy
question to answer and requires some market research on your part.
If you can answer these questions for your company, you are
speaking the "universal language of business".
In short, you need to know your sales, profit margin,
inventory turn, return on assets, cash position, and be in touch with your
customers.
With this information you can set clear priorities and
action plans. That what successful
business leaders do. You need to set no
more than five priorities to retain customers and achieve your money-making
goals. A business priority defines the
most important action that needs to be taken at a certain point in time like:
> Doing
business on the internet.
>Controlling
prices.
>Reducing
expenses
>Improving
customer satisfaction
>Improving
velocity
>Improving
profit margin
Need help with this process? Our SCORE counselors can help. Come in to our Main office downtown or our Branch office in St. Charles and meet with a counselor for FREE.
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FOR IMMEDIATE RELEASEContact Information
,June 19, 2008
Michael L. Keaton, Director of Communications
media@score.org
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Washington, D.C.
SCORE and SBTV.com Team Up to Provide New Online Resources for Entrepreneurs
SCORE
"Counselors to America's Small Business" and SBTV.com will work
together to make new resources and information available to aspiring
entrepreneurs and small business owners. SBTV.com, as SCORE's online
media partner, will produce podcasts with SCORE clients and help
promote the value of SCORE's mentoring.
The podcasts will highlight SCORE's expertise and advice by
interviewing clients who achieved success thanks to SCORE. SBTV.com
will include information from SCORE in its daily news broadcast, which
reaches 40,000 viewers each day. SCORE will be a featured content
provider for SBTV.com's weekly eNewsletter, which reaches 300,000
readers.
SCORE CEO Ken Yancey says, "SCORE is pleased to form an alliance
with SBTV.com, a leader in providing cutting-edge resources to
America's small business community." Yancey adds, "SBTV.com will help
SCORE reach new markets and provide clients with additional tools and
information that can help them succeed." "SBTV.com and SCORE are a perfect fit. Both our organizations are
committed to providing small business owners and entrepreneurs with the
resources they need to start and build a successful business. With our
combined reach and resources, we can help millions of American
entrepreneurs," says Susan Wilson Solovic, CEO of SBTV.com.
SBTV.com's SmallBiz Center is THE place on the Internet
for small businesses to connect and collaborate, as well as contribute
content to showcase their businesses and expertise. The SBTV.com team
understands small business is as much about a way of living as it is
about making a living. Visit National SCORE on
the Web at www.score.org.
or in St. Louis www.stlscore.org |
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Improve Your Business
SCORE has several Entrepreneurial Educational programs to help you learn more about running your business successfully. SCORE programs include:
Seminars
"The Basics of Running a Successful Business"
(Two sessions, choose one or both!)
July 10 & July 12, 2008
"How to Start and Manage Your Own Business"
August 9, 2008
Two SCORE workshops have now been scheduled for summer -
"How to Write a Winning
Business Plan"
July 26, 2008
REGISTER NOW!!
"Bookkeeping and Finance"
August 23, 2008
To learn more about dates, times and how to register-
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Free Workshop Series
A special workshop offered by the St. Charles City-County Library District will be held in August. This workshop is free and open to the public, registration required. Business Opportunities workshop will be held August 13.
All workshops will be held from 6 to 8 pm at the St. Charles City-County Library District Nonprofit Development Center located at 425 Spencer Road in St. Peters. Please call the Spencer Road library to register at 636.441.0794. This is a cooperative effort by the St. Charles Development Center, MO Small Business Development Center, USEAC, SCORE, the SBA, Grace Hill and MoPTAC. |
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Score Client sends "Thank-You" -
From SCORE St. Louis client -
Dear Ed, Joe, and
Tom,
I very much
appreciate the time you took to meet with me on Friday. It was very helpful, and
I valued the input from all three of you. I think you fellas are wonderful
individually, and the whole was even greater than the sum of the parts!
After
weeks of cogitating and worrying about how to expand my business, I feel much
more peaceful and prepared regarding the process. SCORE was the first place I
turned when I was starting my business, and your collective lifetimes of
experience and expertise have been a great help, and indeed a blessing, every
step of the way.
Warmly, Kathy Evans, "Write for You" Life Stories,
LLC
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Workshops for 2009
SCORE News
The St. Charles City/County library district and St. Louis
SCORE, Chapter 21 have formed a cooperative venture to jointly sponsor small
business related workshops beginning in January of 2009. The library district
will promote these workshops through it's various internal and external venues.
Submitted by Ed Kent, Educational Director, SCORE - 21
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