SCORESubscribe Subscribe  |  Whitelist Us
Valuable Advice to Help You
Test, Plan, Plan, Grow and Review Your Business Idea!


SCORE

Biz Tips for Your Success - SEPTEMBER 2013

for small businesses in Eastern Massachusetts.


PLEASE FORWARD to others who may benefit.

Excellent Recent Business Articles in this issue:

   1. Test, Plan, Act, Review
   2. Don't Launch Your Business
       Without Covering These Legal Bases

   3.  A Smarter Approach
        to Non-Disclusure Agreements  

 

 

Counselor mentoring seniors
FREE Mentoring 
www.boston.score.org 
Phone 617-565-5591 

 

 Update from Boston SCORE

 

by Jerry Blakeley           September 27, 2013

 

Greetings! 

 

So you have an "idea" for a new business or for expanding an existing business, but what to do next?  The first article in this newsletter provides some guidance to answer this question and our Mentors can help you further with when you next visit a SCORE office. 

 

Although we cannot give legal advice the next two articles provide some general guidance on important issues to protect your business: What legal issues to consider when starting a business and what to consider in using Non-Disclosure Agreements (NDA's). If you need to share proprietary information on your service or product or even financial statements you should consider using a NDA tailored for the information you are sharing and to whom you are sharing the information.


Schedule a FREE appointment today with one of our 49 experienced business counselors to get advice on starting up and growing your business. We are refreshed from our summer sojourns and anxious to work with you on a continuing business.

 

Sign on to www.boston.score.org or Phone 617-565-5591 to arrange or FREE one-hour session. SCORE's nationwide mission is to help build small businesses, one at a time.

 

 

 Test, Plan, Act, Review

 

So you have an idea for a business, what do you do next?


There are four key steps you might follow:

1. Test the idea with your target customers.   Call  them, visit them, try your idea on them and see what their responses are.  Do they need what you are offering?  Will they buy it?  How much will the pay for it?  Can you make a business out of the idea?

2. Educate yourself on the business.  If you are not already in the business segment, learn as much as you can before you start your venture.  Do the on-the-ground research that is necessary to fully comprehend the issues facing your concept in making it a functioning business.  Take advantage of business education in your area. Attend one of our monthly SCORE Business Startup Workshops.

 3. Create a short form Business Roadmap or Plan where you formalize your business idea and test it's viability.   How will you organize your venture?  How will you reach your customers?  If a product, will you need a storefront, inventory or a place of business? Who is your competition? How are they organized and reaching their customers? What resources will you need and what is available to you. A business plan become your strategic and financial roadmap to get from idea to reality and manage each step along the way. SCORE's business plan templates for starting a business and growing an existing business are available at  http://boston.score.org/resources/tab-a

4. Contact Boston SCORE and make an appointment with a Mentor to test your idea, review your plan and receive input from experienced counselors who can guide you along the way from your great idea to a functioning business. 

 

Don't Launch Your Business
Without Covering These Legal Bases
by: Chas Rampenthal, Entrepreneur Magazine 

I have worked with many entrepreneurs who feared navigating the legal system. One common belief shared among early-stage startups is that the more they spend on legal advice, the less money they will have to run, grow or market their company. While this is true, ignoring legal issues from the onset can lead to costly consequences down the road.

These six fundamentals will ensure your new business venture is on legal safe ground from the start, and help take care of legal formalities efficiently:

  

A Smarter Approach to
Non-Disclosure Agreements 

by Polly Brewster, Entrepreneur magazine

The most valuable asset a business has is its secrets, whether that's an algorithm, an organization chart or a revolutionary widget. A non-disclosure agreement could be protecting you or some other entity, and as you're founding your business, it's important to know the difference. Here are a few things to keep in mind when you start making and signing NDAs.  
Read full Article 

 

SCORE - For the Life of Your Business
Has SCORE helped your business? Give back to SCORE to help entrepreneurs succeed: Donate today.

This e-newsletter is sent to all individuals who signed up to receive it at www.boston.score.org. We do not sell, rent or trade the names on our email list. Your email address is only used to send messages from SCORE. Visit www.score.org to view SCORE's Privacy Policy.

Brought to you by SCORE, America's free and confidential source of small business mentoring and coaching. SCORE is a nonprofit association of more than 13,000 volunteer business experts. SCORE offers free mentoring and low-cost workshops nationwide. A resource partner with the U.S. Small Business Administration, SCORE has helped more than 9 million small business clients since 1964.

Call 1-617-565-5591 for the SCORE office near you or visit online at www.boston.score.org

� Copyright 2012. SCORE Association. All rights reserved.