SCORE Big with Business Knowledge by Kimberly Fleming - City News Group, Inc.
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SCORE Big with Business Knowledge

By Kimberly Fleming, Community Writer
March 26, 2014 at 01:50pm. Views: 100

SCORE, a non-profit organization, has devoted its time to educating prospective and current business owners on how to start and sustain their businesses. Host Alan Jeffe conducted an informative class of “How to write a Business Plan.” Mr. Jeffe, an 80-year-old IBM Retiree, with past experience in consulting business deals, says the job “keeps me on my feet.” Along with co-worker Ann Oliver, a retired real estate executive who has dabbled in the business of non-profits and trade associations, was present to help organize the class. Some key points taught at the event included: -The importance of doing research when writing your business plan -How to organize a business plan -The benefit of spying on the competition, noting that the competition’s weakness should be your strength -Being prepared to answer investors' questions -Having a marketing plan Mr. Jeffe also advised that if you are going to buy an existing business, always ask to see the books. “If you are denied the books then turn around and walk away from from the deal because if books can’t be produced, that's not a good sign for the business.” If you are like most people and need a loan to finance your idea but don’t have the credit to satisfy the banks, another option is to find a private investor or investors for a practice known as “crowd funding”. Also, beware that if your business provides alcohol it is a well-known fact that alcohol licenses are a long and tedious process and very difficult to obtain. Management of the business is also a part of the business plan. The investors need to know how the business is going to be run and by whom. Alan Jeffe suggested a booklet available online by the Employment Development Department office explaining how to perform legally as a California employer. Many entrepreneurs from all different arena attended the event including David Sierra of Gordito’s Tacos Food Truck who is hoping to use the information to expand his business in the Inland Empire. Board and Behave owner, Farren Mahone, a Kennel Specialist is also planning to use the information to expand and grow her business. Concord law student, Renee Anderson, worked in the Aerospace Industry for years where she served as Government Contract Consultant. She is planning to use what she learned and assist others with negotiations of contracts. Pastor Linda Toussaint of Restore of Life Outreach Ministry in San Bernardino will be using the information to develop tutoring and childcare programs through her church.

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