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SCOREBOARD
from Greater Knoxville
A business resource providing business owners and managers
with tips, ideas, and news to help your business grow and become more successful.
November/December 2012
Volume 6, Issue 6
 
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IN THIS ISSUE |
December brings the end of one year and the start of another. It's a time for review, learning, and planning. So this issue of SCOREBOARD includes articles to assist in your own review and planning, including two of the most popular subjects you've chosen to read about this past year: Management and Financing. Another subject that's uppermost in business owners' minds this time of year is tax preparation, so we've included two articles to assist you in this manner.
Our chapter has updated our web site with a new format that makes it easier to find what you're searching for, is quicker and easier to navigate, and includes new content. Congratulations to volunteers Walt Williams and Kim Kruse for their efforts in designing and publishing this great tool for small business owners and prospects. Be sure to check us out at www.scoreknox.org.
We've added a new feature to this issue of our SCOREBOARD e-newsletter - a section for our clients to share news about your business. Tell us about an award or special recognition you've received, if you've added a new location, introduced new products or services, added employees, whatever is newsworhty that we can share with our client base and readership. Send your message to news@scoreknox.org or let your counselor know.
So may we wish you a Happy Holiday Season and a Great New Year.
PS - Be sure to send articles or the entire newsletter to friends and colleagues who can benefit from the information. |
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Management |
Natural disasters like Hurricane Sandy destroy everything in their paths, including businesses. Yet disaster recovery planning is something many small-business owners put off. To learn how to begin making plans before a disaster happens read Is Your Small Business Prepared for a Disaster?
As a small business owner, there's little doubt that you try to save money wherever possible. If your goal is to keep your costs to a minimum as you get your business off of the ground, your insurance policy is a great place to start. How To Effectively Lower Small Business Insurance Costs details five ways you might be able to save money.
Shipping costs are one of the biggest expenses for many small businesses, but resourceful entrepreneurs are finding ways to reduce the sting. Jane Proter offers ways you may be able to reduce these costs in Ten Ways to Trim Shipping Costs.
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Financing & Borrowing |
If your business is a startup or has than 10 employees and under $500,000 in annual revenue encounter difficulty in receiving loans from big banks, there are alternate sources. One such is micro lenders, community-based non-profit organizations. Learn more about this source of funding in Micro Lenders Come Up Big for Small Business.
Some small businesses are turning to another new crop of alternative lenders. Instead of relying just on collateral and credit scores, these cash-flow lenders use software that reviews hundreds of other criteria to make loan decisions within minutes instead of weeks or months. Read Small Businesses Turn to Alternative Lenders to see if any of these sources are an option for your needs.
How does an entrepreneur or small business owner who does not have good personal credit get a loan of some kind to start, build, or grow their business? There are ways to obtain that loan as Tom Gazaway explains in Small Business Financing Options for Those with Not So Great Credit.
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Taxes & New Employees | |
As your self-employed business grows, you'll probably be hiring new employees for the first time. This can be a tedious, time consuming and confusing process. You might have a payroll processing company, your local bank, or your bookkeeper/accountant perform these tasks. If you decide to do the work yourself, you can use an accounting software package that includes basic payroll functions. What Employers Need to Know About Payroll Taxes provides basic information to help you through this task.
It can be easy to forget about Uncle Sam when you're in the midst of day-to-day operations, but making tax mistakes can be costly for your small business. To help you prevent hearing the knock of the IRS at your door, read The Top Five Tax Mistakes Small Businesses Make to ensure you avoid them.
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News About Our Clients | |
Several months ago we included Lyschel and Garrett Burket of Knoxville in SCOREBOARD as an example of using crowdsourcing or peer-to-peer lending. They used Kickstarter to raise funds to start their business, Ice Cream Floats. Their business is up and running and is featured in the December issue of BoatU.S. magazine. You can read about their successful fundraising and growth by clicking here.
Brady French, Owner of Ekotykes Cloth Diaper Service in Sevierville TN, has been selected by SCORE as a winner of Sam's Club Holiday Program. Sam's Club will provide Ms. French with airfare, hotel accommodations, ground transportation to and from the airport, meals, and event resources and materials to attend SCORE's Small Business Educational Event in North Dallas, Texas. Learn about EcoTykes Cloth Diaper Service by clicking here.
Suzanne Cox, owner of UpDoIt in Hernando MS recently had her hair styling device featured in the December issue in InStyle magazine as a "Must Have Hair Tool for Party Hair." To view her tool click here. |
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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.
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UPCOMING WORKSHOPS | |
Spreadsheet Basics
Your Gateway to Better Utilization of Financial Software
- Set up formulas, sort and filter data
- Link spreadsheets, set up multiple tabs
- Utilize cell notes/comments
- Format worksheets utilizing fonts, color, fills, orientation, etc.
Who Should attend:
Those who use email and/or word software at a basic level and have basic keyboarding skills
Who Should NOT attend:
Those who can create complex spreadsheet formulas
You are encouraged to bring your own laptop computer (not required) Tuesday, December 18th, Noon to 3:00 PM Roane Alliance Building 1209 N. Kentucky Street, Kingston
Click here for additional information
Lunch will be provided
Workshop is free for Chamber members, $35 for non-members
Space is limited, so call 865-367-5572 to reserve your spot now!
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"Time Management"
Strategic Concepts and Practical Time Savers
Topics Covered include:
- Are you working on what is urgent or what is important?
- Do You understand your ROTI (return on time invested)?
- Do you know what to delegate and how to effectively do so?
- Do you effectively handle paper (hard copies and electronic)?
- DO you manage the work or are you being managed by the work?
Thursday, February 28th, Noon to 2:00 PM
Roane Alliance Building
1209 N. Kentucky Street, Kingston
Click here for additional information
Workshop is free for Chamber members; $35 for non-members
Space is limited so call 865-367-5572 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
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We want to thank our premium sponsor. Click on their logo to visit their web site.
To send this newsletter to associates and other businesses, click the 'forward email' link in the bottom section.
To contact us to schedule a counseling session, please click here.
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If you have an idea you'd like to share with us or a suggestion for future issues, click here.
Did you miss an earlier issue of SCOREBOARD? Click here to view our archived issues. |
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865-692-0716 Suite 450, 412 N. Cedar Bluff Road, Knoxville TN 37923 |
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