_____ From: Lorene Hintz [mailto:email@example.com] Sent: Monday, February 02, 2009 12:40 PM To: firstname.lastname@example.org Subject: Small Business Development CenterMessage 1 of 2 , Feb 2, 2009View Source
From: Lorene Hintz [mailto:sbdc@...]
Sent: Monday, February 02, 2009 12:40 PM
Subject: Small Business Development Center News
Small Business Development Center News
Great Northern Development Corporation
In 2008 the NE MT SBDC sponsored 24 trainings in it's seven county region; 249 area entrepreneurs and business owners attended the trainings.
The SBDC applauds the participants for attending and working to improve their business skills.
7:30 AM - 4:00 PM
Consumer Credit Counseling
1:00 - 3:00 PM
Wolf Point, MT
1:00 - 3:00 PM
Greet the Dawn
for more information
"Listening to Your Business"
Workshops were held in Glasgow and Wolf Point in January. Nine area businesses took advantage of the training provided by the Small Business Development Center, NE MT Job Service, and SBA.
Throughout the workshop participants prepared a "one minute" marketing statement to highlight their business. They envisioned where they wanted to be in three years, identified the gap, and prepared an action plan. The group identified their businesses life cycle and checked red flags that could be detrimental to their growth.
Comments made were: "This workshop has helped me look at planning for retirement." "This afternoon made me see that setting goals and planning for the future is critical to my business." "I have a vision; now have a roadmap and plan of action to get there." "Outside advice has helped me be more objective in my focus."
If you are interested in a workshop in your area, please contact SBDC.
Setting goals will help you focus and work toward things that you REALLY want for your family and business this year. Make your goal setting a "family affair" by talking with your family and letting them choose goals that can be obtained within a short time span. Your successful accomplishments will help to keep your whole family motivated to stick to your plan for 2009. "Planning leads to success, failing to plan allows circumstances to lead you." Be a leader in 2009!
~Lorene Hintz, SBDC Business Advisor, Wolf Point , MT
Do you have "More Month than Money?"
We all have wants and dreams, but buying everything we see and want can put us in a financial bind. Using credit cards to pay for impulsive buying only makes matters worse. In addition, people have lost jobs because of company cutbacks and are worried about how the monthly bills at home will be paid.
Consumer Credit Counselors will be in Wolf Point and Poplar on February 23 & 24. One-on-one counseling will be available to attendees following the workshop. All community members are welcome to attend!
Attend for a low cost of $10.00 and learn more about the following topics:
- Learn to "Build your Budget" that can become your road map to financial success! Track your income, expenses, and fritters.
- Tax Preparation and Earned Income Credit
- Debt Management counseling that is designed to help both you and your creditors. CCCS acts as a mediator between you and your creditors, often negotiating reduced payments and/or finance charges. Develop a repayment schedule that will allow you to pay both your living expenses and your debts.
- The Bridge to Benefits tool is simple and available to anyone at no cost. It will help connect eligible working individuals and families across Montana with work support benefits, such as energy assistance, health care, child care assistance, food support, school meals and the Earned Income Tax Credit.
- Employment Assistance program information.
Consumer Credit Counseling
Monday, February 23, 2009, 1:00 - 3:00 PM
GNDC, Conference Room, 233 Cascade Street , WolfPoint
Consumer Credit Counseling
Tuesday, February 24, 2009, 1:00 - 3:00 PM
FPCC, Greet the Dawn Auditorium, Poplar
Contact Lorene Hintz at 653-2590 or sbdc@...
Sponsored by the Small Business Development Center , SBA,
Consumer Credit Counseling Service, and NE MT Job Service.
Business owners often get trapped because they don't heed the messages their business sends and they don't pay attention to basic principles. The following checklist represents a clear set of danger signals - situations and issues - that have a negative effect on cash flow. Take a few minutes under the harsh, cold light of reality to ask yourself how many of the following danger signals exist in your business and then evaluate carefully their implications:
· No physical inventory taken on a regular basis
· Lots of old inventory and no plan to get rid of it
· Buying at trade shows without a purchasing plan
· Buying for brand names versus targeted gross margin and turn
· No knowledge of what actual price points sell in your store
· Lack of a good point of sale system that shows your gross margin, turns and return on inventory by department
· Supplier discounts rarely taken
· Offering credit as a way to boost sales (why are you a bank?)
· Buying from vendors because you can't say no (see point 3)
· No on-going communication between you and your banker
· Credit line not completely paid off each year for at least 30 days
· Short-term credit such as credit lines used for long term assets such as store expansions or leasehold improvements
· You brag to others about how much money you save by doing your own books (hint: probably time to fire yourself from this job!)
· Bank statements not reconciled every month
· The same person who does your books also deposits your checks, pays your bills, opens your mail, never goes on vacation, etc. (hmmm, wonder what else they're up to?)
· Balance sheet is prepared only at the end of the year, and then only used for tax purposes.
· You don't get accurate statements (income statement and balance sheet) each month by the 15th of the following month (and you're still waiting for your year-end statements
· You spend more time avoiding paying taxes than you do actually figuring out how your business is doing
Danger signals are just that - signals!
The longer you wait, the fewer options you will have. Now is the time to gain control and keep it. Get ahead of the game, sleep better at night, and get in a much better position to weather whatever rough seas lie ahead.
Information from Profit Mastery
UpcomingEvents Skills and Issues Day, February 18, 2009, Sidney, Montana Consumer Credit Counseling ,February 23 & 24, 2009 ,Wolf Point & Poplar, Montana
"IN THE BUSINESS WORLD, THE REARVIEW MIRROR IS ALWAYS CLEARER THAN THE WINDSHIELD."
Lorene Hintz, SBDC Business Advisor
233 Cascade, Wolf Point , MT 59201
This email was sent to kranches@... by sbdc@....
Great Northern Development Corp | Small Buisness Development Center | 233 Cascade Street | Wolf Point | MT | 59201