SIZE YOUR MARKET - EASILY & PRECISELY
Here is a proven, simple approach that can be used to accurately forecast the market-for and sales-of your product or services. It consists of 5 easy steps. Follow them and arrive at a good estimate of your opportunity. Your market and your share. >>-> MORE >>->
Dated November 7, 2009 Topics: Business Planning, Chairman's Message, Marketing and Sales
MARKETING THE MEGA ROLL
Why do you think Mega toilet paper rolls arrived in our stores? It was a marketing strategy, of course. Consumers always go for getting more. I first became interested in the Mega roll phenomenon after I purchased it and discovered that it did not fit on the toilet paper dispenser in my bathroom. I learned there was more to this marketing strategy than first occurred to me. It is worth considering by all of us business folks. >>-> MORE >>->
Dated September 1, 2009 Topics: Chairman's Message, Marketing and Sales
BUSINESS COMMUNICATIONS
Have you ever played the Telephone Game? It’s that game where everyone sits in a circle; the first person whispers a message in a neighbor’s ear. Each participant whispers to the next person in the circle what he or she thinks the prior person said. The game has no winner: the entertainment comes from comparing the original and final messages, which are usually vastly different. How to improve? Read on.
Dated August 1, 2009 Topics: Chairman's Message, Management
ONLINE OR FACE-TO-FACE COUNSELING?
Getting free confidential advice from a successful businessperson by simply writing a question or describing a problem in the space provided on the SCORE website seems like a no-brainer. Why wouldn’t everyone want to try this method of gaining expert insight and advice? Are you hesitating? This article will guide you through the online cyber counseling process so that you can decide if you want to try it. >>-> MORE >>->
Dated June 29, 2009 Topics: Chairman's Message, SCORE Functions
WHAT IS A “SUCCESS STORY?”
On average, a Cedar Rapids SCORE volunteer counsels two entrepreneurs each day of each year. Are all of these entrepreneurs considered a success? How does SCORE decide which businesses to feature in the Newsletter as a “Success Story”? There were twelve success stories written up in our email newsletters since the inauguration of the SCORE Cedar Rapids Newsletter in October 2007. From those twelve businesses, three were given special awards 
at our annual Small Business Week celebration on Monday, May 18. You can read about that event and those special SCORE ONE awards elsewhere in this Newsletter.
Many of the entrepreneurs we counsel represent a brief relationship with SCORE. A typical client seeks SCORE advice about how to start a business or how to prepare a business plan so the business can get a loan or attract investors. In many of these cases, the client gets this information or advice and we never hear from them again so we do not realize they became very successful because of our counseling. If you are one of those cases and would like to be featured in our newsletter, please contact me.
Recently, another SCORE volunteer and I co-counseled a person who wanted to buy an existing business. We instructed the client to get all of the information from the seller that is needed to evaluate a purchase of this kind; we informed the client that, if the seller refuses to supply these details, then our advice would be to walk away-not to buy. In this case, the seller supplied the requested documents that revealed no profits in the past three years. When this was explained to the prospective buyer, the buyer made the decision not to purchase the business. This counseling case is considered a success-the SCORE counselors helped the client understand that this particular business was not worth the seller’s sale price. Obviously, this is not a “success story” that merits a feature story even though the service to the client was important.
Some of our printed success stories came about because the client stayed in touch with the counselor-in some cases used the counselor as an ongoing mentor so the counselor was aware of the success attained. In one case, a SCORE volunteer, now retired from counseling, informed us of the success of a business he had extensively counseled. We must rely on each SCORE volunteer to be willing to write about the success of a client or to recognize that a client is successful and ask someone to write about it. Once we have a success story, the client must be willing to be featured in our email Newsletter and to sign a release form.
Right now, we are counseling our future success stories. It is so exciting to see a client go from simply having an idea for a possible business to emerge in a year or more as a successful business. We enjoy the growth of each client. Our SCORE volunteer counselors are waiting for your call.
Jean Kruse
SCORE® Chairperson and CPA (retired)
CONTACT ME
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The Cedar Rapids SCORE® Chapter serves Linn, Jones, Benton, and Cedar counties. Phone 319-362-6405. There is absolutely no charge for our services, and we can help ensure you succeed.
Counseling help from the comfort of your home.
Using the “national” SCORE® website you can get confidential advice from a SCORE counselor via the internet by typing in your question. One of our more than 10,500 counselors in the United States who has expertise on the subject you selected will answer your question within 48 hours.
Dated May 27, 2009 Topics: Chairman's Message, SCORE Functions
SCORE® THOUGHTS
KEEPING UP WITH WHAT’S GOING ON IN BIZ 
With technology changing minute by minute, how do you know you are up to date and have the latest knowledge you need to be successful in your business or industry? Are you inundated with emails suggesting ways you can keep up? Do you delete without reading? If you are like me, the United States Postal Service brings flyers and catalogs offering continuing education opportunities to keep skills updated and you round-file most of it. How do you know which to read to get the one hint that will improve your business without wasting your time reading everything? I don’t have all the answers, but I will provide a few suggestions. >>-> MORE >>->
Dated May 20, 2009 Topics: Chairman's Message, Learning and Training
SPRING CLEANING
In the spring, our minds turn to cleaning our house and garage, cleaning our office, and ridding ourselves of unnecessary paperwork and junk. As the rain makes the dirty blackened snow disappear and the trees begin to bud, we want to rid our lives of the excesses that seem to creep onto the tops of our desks and complicate our lives. We all yearn to know: How much of this “stuff” should I save and how much can I safely destroy without regret?
The Internal Revenue Service (IRS) is not the most important reason to keep good business records, but it is the reason that motivates most folks. Some of the information that follows is taken from two IRS publications: #552, “Recordkeeping for Individuals” and #583, “Starting a Business and Keeping Records.” If you want to read more details, I suggest you go to www.irs.gov and click on publications.
In addition to the tax reasons for keeping adequate records, you may need to keep records for insurance purposes or for getting a loan. Everyone who owns a personal residence should have a file or a manila clasp envelope in which to keep a record and receipts for the acquisition of and improvements to the home. The first item in the file or envelope should be the closing statement for the purchase of the home. That document provides the date of acquisition and the cost. After the original purchase, if you make improvements to your home, keep a recap sheet listing each improvement, the date, and the total cost; keep the receipts and backup documentation.
In addition to your home purchase, keep a separate file or envelope for each major purchase of assets such as jewelry, cars, boats, campers, vacation home, rental property, business equipment, stocks, bonds, mutual funds, etc. Each file should be started with the invoice for the purchase, establishing date of purchase and cost. For your business, you will want to have a file for each purchase of real estate and major piece of equipment. You should keep the entire file for each asset for at least three years after you dispose of the asset.
Three years after the filing date of your tax return is the minimum time you need to keep the records pertaining to your income and expenses on your income tax returns. That means that for your 2008 income tax return that must be filed by April 15, 2009, your evidence must be kept until at least April 15, 2012. If you fail to report some income on your tax returns, the length of time is six years after you have filed your return rather than only three years. If you do not file a tax return or you file a fraudulent return, the length of time to keep the records is forever. If you have employees, there are more rules on the retention of employee records; generally, they must be kept at least five years. See IRS Publication 15 for specific employment tax records you must keep.
In summary, many of your records can be destroyed after three years from the date you filed your tax return—things like medical, charitable contributions, property taxes, and vehicle license receipts. It is a good idea to keep these expense receipts in an envelope labeled by year rather than by topic, so when the three years expire, you do not have to go through the file to pull out documents pertaining to the acquisition of assets that you still own. Be careful to shred anything that has identification data on it, such as social security numbers and bank account and credit card numbers.
Jean Kruse
SCORE® Chairperson and CPA (retired)
————————————————————–
The Cedar Rapids SCORE® Chapter serves Linn, Jones, Benton, and Cedar counties. Phone 319-362-6405.
There is absolutely no charge for our services, and we can help ensure you succeed.
Counseling help from the comfort of your home.
Using the “national” SCORE® website you can get confidential advice from a SCORE counselor via the internet by typing in your question. One of our more than 10,500 counselors in the United States who has expertise on the subject you selected will answer your question within 48 hours.
Dated April 26, 2009 Topics: Chairman's Message, Tax Info
Open this Post, and you will be able to read 18 messages from the SCORE Chairwoman in Cedar Rapids.
Dated January 29, 1995 Topics: Chairman's Message, Finance and Accounting, Internet and Web, Learning and Training, Marketing and Sales, Tax Info