April 2009

EDITORIAL

The signs are undeniable.  Our national GDP is essentially flat.  Credit is tight.  The stock market is in the pits.  Unemployment is rising and there's a steady stream of bad news.  That adds up to the definition of  recession.  Leading economists, and even usually upbeat government leaders, warn us that this one is going to get worse before it gets better.  In the best of times, 40,000 U.S. businesses fail each year.  In a deep recession, that number will be much higher.

How is this recession impacting small business?  Consumer spending is down.  Both business and personal debt is rising.  Loans are difficult to obtain.  Competition will continue to intensify.  In proportion to your revenues, expenses will be going up.  For small business owners, recession means fewer customers, with fewer dollars to spend, and much greater competition for those dollars.

But, there is also a bright side. Change also creates opportunities.  In this edition of our SCORE Biz-Success Newsletter, we will focus on strategies that will help you, not only survive these difficult times, but to come out of this a winner.

Bob Presley, Editor

Surviving Recession

Your First Steps Toward Survival

By Rick Leslie, SCORE Business Counselor

Everybody's crying wolf and running for cover.  These are tough times for small business owners.  There's no profit at the end of the month and, therefore, no paycheck for the owner.  Inventory is accumulating, and customer's buying patterns are changing. What does a small business owner do?  What are the options?  It's obvious that we need to reduce costs and increase revenues, or at least maintain current revenues as best we can. 

If a small business owner is to survive these troubled economic times, and come out on the other side poised for growth, you must take several important first steps right now.

Crucial First Steps  

SCORE BizSuccessTips

You Can't Sell a Job

By Sue Phalen, SCORE Business Counselor

The typical business owners who come to SCORE have much in common.  Having worked as an employee elsewhere, they are experienced in delivering what their business produces.  Their job is their passion and it shows in how they do business. They are optimistic and motivated risk takers.

But, doing a job is vastly different from running a business.  And, therein lies a major pitfall for many small business owners.  Read More.

 SCORE  Insider's Report

The Inside, Outside, Upside & Downside Of Convenience Store Operations

 By Bill Craig, SCORE Business Counselor

Being in the C-Store business is one thing; being successful is another.  It may sound great to meet the public, manage people and build your own business.  However, if you are not prepared to meet the challenges, your success is limited, maybe doomed.

There IS considerable room to be a success in this business, but it takes preparation before you make the commitment.  If you're thinking about starting a convenience store business, here are some things to consider before you make the leap.

Get the Inside Story from SCORE's C-Store Expert

Counselor Spotlight

Irwin Miller, SCORE Business Counselor

He was born in the "Big Easy", New Orleans, but hard-working Irwin Miller got to Houston as soon as he could and, after receiving his B.S. degree in Pharmacy from the University of Houston, and starting with Mading Drug Company, quickly established himself as a leader in the pharmacy/health care industry, where he enjoyed an outstanding career of more than 45 years.  In 1951, Irwin moved on to establish his own company, Prescription Laboratory, Inc., of which he was president for more than 30 years.  As a consultant and provider pharmacist, he serviced over 100 nursing facilities caring for more than 7,000 residents.

Industry peers recognized Mr. Miller's achievement.  He was elected "Texas Pharmacist of the Year" in 1968.  He received the National Assn. of Retail Druggist's "Service to Society Award", the "Distinguished Alumnus Award" of the U of H College of Pharmacy and "Outstanding Consultant Pharmacist Award" from the Texas Pharmacy Association.  Irwin served as President of the Harris County Pharmacy Association and Director of the Texas Pharmacy Association. 

Retiring in 1995, Irwin Miller has never slowed down, serving in a variety of volunteer positions.  In 1996, he was "Volunteer of the Year" at U. of H. College of Pharmacy, where he served on the Deans Advisory Council.  He has also served as chairman of the HISD Drug Abuse Committee and in the Drug Abuse Education Program of the Texas Department of Corrections.

Mr. Miller joined SCORE in 1995 and, for more than a decade, has been a valuable mentor to hundreds of startup and established small business owners in the Houston area.  He has also served as chairman of the Houston SCORE chapter, and as a SCORE District Director. 

Irwin Miller's wealth of hands-on business experience, and his hard-earned knowledge, can be yours free of charge. For your own personal, private counseling appointment, call

SCORE Palm Center Business Technology Center, 5330 Griggs Road at Martin Luther King Blvd.  (713) 845-2424