Q: What 2-3 business plan elements are banks studying more closely today?

A: Financials: Can you repay the loan with interest? That's all the bank cares about. They want to see that you have a financial model that makes sense.

Marketing and operations plans: Where the is money going, and what is your primary method for generating money to help pay back the loan? 

Q: Can small businesses learn anything from larger companies' marketing and visibility strategies?

A: No. Large companies are all about branding and long-term loyalty. A small business needs to be aggressive and creative, focusing on guerilla marketing, and direct response - invest $2 and get $3 back in 30 days.

A good way to get ideas is to look at other entrepreneurs in your locality, and how they present themselves in the media. What are they doing to get publicity and draw people to their locations?

Q: Many entrepreneurs struggle with delegating responsibility, even when faced with the overwhelming challenge of keeping their business growing. What are some tips for finding a comfort level that will allow them to feel better about "letting go"?

A: Use this formula: figure out how much you want to salary yourself, and divide that by how many hours you'll work in a year. The result is your own hourly rate, say $100/hour. Then look at tasks you do repeatedly-cleaning office, going through mail, and so forth. Are you willing to pay someone $100/hour for it? Probably not.

There are a lot of low-cost options for delegating these tasks-virtual assistants, college students who do it for credit. Once you delegate those tasks and focus all your time on high-value stuff, your business will flourish.

Q: You're a big proponent of mentoring. What makes SCORE uniquely positioned to assist any type of small business at any stage of its development?

A: Being able to talk with someone who's been there and done that is invaluable. The hardest thing is finding that kind of person. SCORE's done that for you. They've already found these great mentors who are willing, ready, and able to advise you on what to do - and what not to do - based on their knowledge and experience.