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ready, set...launch your small business!

Texas State University SBDC, SCORE & WBC
by

Donna Taylor

on 24 January 2013

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Transcript of ready, set...launch your small business!

Launch Your Business! Where to find the best, free resources some inspiration to start your journey... A better way to think about your business... where do you get the money? banks & credit unions Credit score of 680+
30% owner investment
Management experience
Industry experience
Business plan
Alternative income
Low risk high risk
high interest rates
extremely competitive
solid business plan required
need to have a great pitch other sources of funding:
angel investors & venture capital Startup loans
$500-$50k
Largest nonprofit microlender in US
Asal Shokati
www.acciontexas.org
(888) 215-2373 Startup loans
Loans up to $100k
Ave. credit score 575
Alt. source income
Rates:7.5-15%
www.peoplefund.org
(512) 222-1000 Startup loans
Loans up to $15k
Business plan req.
Min. 3 mo. sales
Rates:10-13%
www.bigaustin.org
(512) 928-8010 Other Sources of Funding:
SBA Microlenders SBDC WBC SCORE 10 9 8 7 6 5 4 3 2 1 Execution The Starting Point Execution Readiness
Complete the Small Business Readiness Assessment Test
Work on Your Business Model Canvas (11 x 17 Sheet)
Go to the SCORE Website
click on "Online Workshops"
complete "Quick Start Business Plan"
complete "Creating a Strategic Plan"
identify other training that you may need
Draft a resume
Schedule a meeting with your SCORE advisor Your homework assignment: Working TOGETHER to help small businesses
grow in central Texas Providing small
businesses with
lending counseling Free business
and marketing plan
guidance Helping small businesses grow and become successful
(512) 928-2425
austin.score.org

(512) 928-8010
bigaustin.org

(512) 610-0996
AustinSmallBusinessAnswers.com Please contact us – we want to help! Jim Binneboese, Business Advisor Claudia Conner,
Director, BiG AUSTIN's WBC Bill Thompson, Business Advisor,
Texas State University SBDC Developed Business Model Concept Workable Business Plan Demonstrated Experience in this Business Qualified Credit Score Proven Sufficient Equity Position Executable Business Plan Access to Capital Launch Strategic Development Expansion goals of this class: the takeaway: find out if you are cut out to be an entrepreneur bank of Mom & Dad personal savings home equity BiGAUSTIN's WBC
(Claudia Conner) with special thanks to a success story: Gayle Reaume Ready, Set.. With help from your local SBA resource partners find out if you have what it takes to be an entrepreneur inspire you to start your journey show you a better way to think about your business give you a starting point take advantage of free resources the Business Model Canvas is a better way find inspiration from our success stories use the tools we discussed to start your journey Are you cut out to be an entrepreneur? Do you have experience in this line of business? Do you consider yourself a leader and self-starter? Do you have support for your business from family and friends? show you where to find the best, free resources http://web.sba.gov/sbtn/sbat/dsp_sbat.cfm?Tool=4 Are you willing to commit long hours to make your business work? Take the test and find out! Do you know your credit score? Do you know where to get your credit score? Do you know what a good credit score is? More self-assessment: http://www.AnnualCreditReport.com (the only one that's REALLY free) (most people don't) 620-659 Fair
660-699 Average
700-740+ Excellent We want YOU to be one of our success stories! "SCORE was an integral part of getting Little Green Beans
off the ground and I’ll continue my relationship
with my mentor, Celia Bell, to keep it growing tall."
-Sharon Munroe, Austin, Texas “SCORE -
I can’t thank you enough!”

- Natalie McKee - Austin, TX The best, free resources for business startups http://www.austin.score.org click on "Online Workshops"
complete "Quick Start Business Plan"
complete "Creating a Strategic Plan" http://austintexas.gov/page/steps-starting-business where to get licenses & permits where to get Assumed Name Certificate (DBA) charging, collecting & filing your taxes http://www.austinsmallbusinessanswers.com/community-resources/ Thank you for being here!
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