SCOREBOARD

from Greater Knoxville

 SCORE Logo April 12 

A business resource providing business owners and managers

with tips, ideas, and news to help your business grow and become more successful.

March/April 2012  Volume 6, Issue 2 

WHAT "MARCH MADNESS" MEANS FOR YOUR BUSINESS
IN THIS ISSUE

Nearly everyone is familiar with NCAA basketball's "March Madness" and many even participate in "Bracketology." But there's another "March Madness"  for businesses: tax season! Although it's almost over for this season, now is the time to prepare for next year's. So we've included articles in this issue to help you make sure your records are in order and that you take advantage of tips that may reduce your tax bill.

 

When planning improvement in any area of business, a tactic used by many leaders is to create a negative (DON'T DO THIS) and then turn it into a positive (DO THIS). Let's say that you want to increase revenue. First, create of list of actions that will reduce revenue. For example, you DON'T increase marketing efforts, you DON'T meet delivery promises, or DON'T show up for scheduled appointments. Now that you have a list of actions NOT to take, simply change the DON'TS into DO'S. We've included articles that give you some ideas on what NOT to do that can allow you to improve your own business.

 Chuck Christiansen & Gary Bickford at 2011 Cleint of the Year Award

 

We want to congratulate SCORE Counselor Chuck Christiansen, seen here on the right with client Dr. Gary Bickford at SCORE's 2011 National Client of the Year Award Ceremony, for being selected as a Finalist to represent SCORE at "Champions of Change," a recent White House event devoted to entrepreneurial mentoring and development work. Chuck's dedication and expertise in mentoring his client base makes him an ideal choice to be included as a finalist, and we congratulate him on this recognition!

 

 

We encourage you to read these articles to make your business even more successful, and remember that SCORE is here "For The Life Of Your Business."

TIPS FOR YOUR TAXES

When it comes to finances and taxes small businesses are making common mistakes that can prompt an audit or leave money on the table. Read "Top Three Tax Mistakes for Small Businesses" to be sure you're not making them.

 

Dollar BillsSelf-employed business owners (there are more than 21 million!) have some special considerations when preparing for tax season. "A Quick Guide For 'Solepreneurs'" provides some guidance you need to be aware of, whether you file your own taxes, use a tax service, or outside professionals.

 

There is another great resource to assist you in this area - the Internal Revenue Service itself. They have a special section on their web site for small businesses that you need to review periodically, or visit to find answers to your questions. The site is http://www.irs.gov/businesses/small/index.html.

MARKET PLANNING USING THE "DON'T" METHOD

One activity that every business must undertake is marketing planning. Make sure you DON'T make the mistakes outlined in "Top 10 Marketing Planning Mistakes." NOTE: this list originally appeared in a blog authored by Chris Conner, and appeared in Marketing Maven and has has been revised by SCORE Counselor Chuck Christiansen.

 

One major marketing mistake is made by many firms. Find out what it is and how to prevent or correct it in "The Number One Small Business Marketing Mistake."

MANAGING YOUR BUSINESS

Business owners are involved in many areas of planning and implementation. Again, there are many management actions that business owners can benefit from by using the DON'T method. Author Susan Wilson Solovic provides some management guidance in "Three Small Business Blunders to Avoid."

 

We all know how important it is for entrepreneurs to create great relationships with customers. But there is another group without whom you could not run your business - your vendors.  Creating great relationships with your suppliers is important, so find out how to in "How To Make Your Vendors Love You."

 

Marketing may not be the most important priority among your responsibilities or departments but perhaps you need to change the way that you think about and define "marketing" in your business. Jon Taffer, host of the popular TV program "Bar Rescue,"  defines marketing with the term "Customer Reaction", and author Elizabeth Kraus defines it as anything and everything you do to attract, engage, retain or motivate customers. Read more about how to implement this definition in "Why Everything is Marketing When it Come to Your Small Business."

SCORE Is Looking For A Few Good Men And Women

The Greater Knoxville SCORE Chapter is recruiting volunteers to assist the small business community in our coverage area. If you're an experienced business owner or have managed a business and would like to counsel small business owners, we'd like to speak with you. In addition to volunteer counselors, we're also seeking volunteers with experience or talents in making presentations, performing administrative functions, and assisting in fund raising efforts. If you are interested, or know someone who fits these needs, contact SCORE at 865-692-0717 or email us at volunteer@scoreknox.org.  To see what you gain from volunteering, watch this short video.

 

PS - it is not necessary for volunteers to be retired.

Upcoming Workshops

 

 "Should I Go Into Business For Myself?"

This is a two session workshop designed for those considering beginning their own business.

  

9:00 AM to Noon, Sat. April 14 (Session 1) & Sat. April 28 (Session 2)

Knoxville Campus of Roane State Community College,

132 Hayfield Road, Knoxville (Off Parkside Drive)

 

Click here to view content, directions, and to register,

 or call the Greater Knoxville SCORE office (865-692-0717)

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5:30 - PM to 8:30 PM, Tues. May 8 (Session 1) & Tues. May 22 (Session 2)

Knoxville Area Urban League,

1514 E. Fifth Avenue, Knoxville 37914

 

Click here to view content and registration information

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9:00 am to Noon, Sat. May 5 (Session 1) & Sat. May 19 (Session 2)

Knoxville Campus of Roane State Community College,

132 Hayfield Road, Knoxville (Off Parkside Drive)

 

Click here to view content, directions, and to register,

or call the Greater Knoxville SCORE office (865-692-0717)

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"Independent Contractors Workshop"
 This workshop is designed especially for small "trades" contractors with six or fewer employees and covers questions like:
  • How do you make more profit?
  • How do you price your services?
  • How do you survive in tough times?
  • How do you determine what your time is worth?
  • How do you develop shortcuts to accurate job pricing?
The cost is $100 and includes lunch and break beverages plus a USB thumbdrive with related computer software and business forms.   
Thursday, April 26, 8 AM to 5 PM
Clarion Inn, 3634 Merchants Center Blvd
Knoxville TN 37921
Click here to view content and registration information.
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"How To Delight Your Customers"
The Value of Keeping Customers
The Customer Satisfaction Triad
How Do Your Customers Describe Your Business?
When To Thank Customers
Effective Complaint Resolution
 
Wednesday, April 25, Noon - 2 PM (CDT)

Cumberland Business Incubator

2569 Cook Road   Crossville, TN

Just off I-40 Exit 320

 

Lunch Will Be Provided

Space is limited so call 931-456-4910 to reserve your spot now!

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"Prospering in Tough Economic Times"

 What are Your Marketing and Strategic Options?

 

Have you analyzed your products, market segments, and operations in light of the current economy?

 Have you analyzed your competitors? Suppliers? Customers? Understand the opportunities?

Do you know how to extract data on 14,000,000 businesses by geography, size, & other characteristics?

Are you protecting your customer base? Expanding it?

 Have you developed alternative plans to deal with future economic uncertainty?

  

Thursday, April 26, Noon to 2:00 PM

Roane County Chamber of Commerce

1209 N. Kentucky Street, Kingston

 

Lunch will be Provided.

Workshop is free for Chamber members; $35 for non-members.

  

Space is limited so call 865-376-557 to reserve your pot now!

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"Time Management"
Strategic Concepts and Practical Time Savers

 

Are you working on what's important or what's urgent? 
Do you know what and when to delegate?
Do you effectively manage paper?
Do you manage yourwork or does your work manage you?

 

Wednesday, May 23th   Noon - 2 PM (CDT)

Cumberland Business Incubator

2569 Cook Road   Crossville, TN

Just off I-40 Exit 320

 

Space is limited so call 931-456-4910 to reserve your spot now!

 

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Thursday, May 24, Noon to 2:00 PM

Roane County Chamber of Commerce

1209 N. Kentucky Street, Kingston

 

Lunch will be served.

Workshop is free for Chamber members; $35 for non-members.

Space is limited, so call 865-376-5572 to reserve your spot now!

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Visit And Support Your Local Chamber of Commerce

Anderson County Chamber of Commerce   www.andersoncountychamber.org

Blount County Chamber of Commerce   www.blountchamber.org

Claiborne County Chamber of Commerce   www.claibornecounty.com

Cocke County Partnership Chamber of Commerce   www.cockecounty.org

Farragut/West Knox Chamber of Commerce   www.farragutchamber.com

Loudon County Chamber of Commerce   www.loudoncountychamber.com

Monroe County Chamber of Commerce   www.monroecountychamber.org

Roane County Chamber of Commerce   www.roanealliance.org

Scott County Chamber of Commerce   www.scottcountychamber.com
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We want to thank our premium sponsor.  Click on their logo to visit their web site.
  

First Tennessee Foundation 

 

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Greater Knoxville SCORE Chapter  www.scoreknox.org 
865-692-0716  Suite 450, 412 N. Cedar Bluff Road, Knoxville TN  37923