June 2009

EDITORIAL

In our last SCORE BizSuccess Newsletter we asked, "What's your economic forecast for Houston business?"

Your answers reveal that some of you are doing quite well, even increasing sales and profits over last year.  But, for others, profitability is down.  Without further comment, we will simply allow your collective answers to speak concerning the economic climate for small business in the Houston area.

Bob Presley, Editor

Read the Survey Results. Click Here. 

SURVIVING the Tough Times

Washington Dignitary To Be Keynote Speaker

At SCORE's Business Forum, Surviving the Tough Times

Saturday, May 30, 8:30am - 2:00pm

Houston Community College Campus, 3100 Main at Elgin

Breakout sessions (in English and Spanish)

1.      Improving and Keeping Good Credit

2.      Marketing and Business Plans

3.      Understanding Banking and Alternative Lending Opportunities

4.      Business Development

Free Admission and Free Lunch

Register today at: score37@scorehouston.org, or Call  713-773-6565

Read All About This Important Event.

SCORE BizSuccessTips

Maintaining and Increasing Revenues During the Tough Times

By Rick Leslie, SCORE Business Counselor

In earlier SCORE BizSuccess Newsletters, we suggested these important steps toward  "Surviving the Recession":

Survival Step 1:  Give your business a thorough internal checkup.  Utilizing an updated forecast, and cash flow analysis, arm yourself with the most accurate estimate of what you might expect in the coming year.  Take a hard and honest look at the steps that will be required to stay solvent, with a positive cash flow, over the next 12 months.

Survival Step 2:  Stop the bleeding. Review your company's top 5 expenditures.  Know where the money is going.  Monitor all expenses closely. 

Now, if you've administered the above diagnostics and learned that the patient needs to be on life support, what will you do about it?  It doesn't require a MBA degree to see that what you really need is increased revenues.  But, how do we accomplish such a feat in recessionary times such as these?

Read Rick Leslie's timely advice on how to maintain, and even increase, revenues during these tough economic times.

SCORE  Insider's Report

How To Value a Business

By Jeff Jones, SCORE Business Consultant

As a business broker and business appraiser for the past 30 years, I have sold and appraised many businesses. The value of a business will depend upon a lot of factors, such as the number of years in business, number of employees, the amount and condition of the equipment, facilities, supplies and inventory, the type of customers, the degree customers are tied to the owner and the stability of earnings. The value of a business is usually a function of its earnings, not its tangible assets.

There are three approaches to valuing a business. Click here to learn How to Value Your Business.

Counselor Spotlight

Jacob (Jake) Struck, Score Business Counselor

With a background in science and engineering, Jake Struck enjoyed a long and successful career in the textile, chemical and pharmaceutical industries.  During his 42-year career, he was engaged in research, new product development, mergers & acquisitions and technology development with large corporations and a number of smaller businesses. As Director of Applied Sciences with a national pharmaceutical company, he led a group of technical professionals in the fields of biochemistry, microbiology and biomedical engineering.

In 1978, in order to broaden his business marketing and financial management experience beyond technical areas, he joined a small company as Director of New Product Development. He was elected to their Board of Directors and was appointed Executive Vice President when the company went public.

Jake has recently been cited for his fifty years of membership and service in the American Chemical Society, has been elected to Sigma Xi and the New York Academy of Sciences, and is listed in American Men and Women of Science.

Mr. Struck has been a valued SCORE counselor since 1996.  His areas of expertise are Management, Manufacturing, Planning, Financial Management and Patents & Trademarks.  Jake Struck's wealth of hands-on business expertise, and long years of experience, can be yours free of charge. For your personal and private counseling appointment, please call: SCORE, Palm Center Business Information Center, 5330 Griggs Road at Martin Luther King Blvd., 713-845-2424