? Homework for Starting a Business pt 6 - Basic Business Cents Article by Lou Schultz ~ Hubbard County Regional Economic Develeopment Commission- Hubbard County, MN - Home

Basic Business Cents

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Homework for Starting a Business

Part VI-Use Your Available Resources

by Lou Schultz, SCORE counselor

Original publish date 08/2010 (#46)

When starting a business, don’t be a “Lone Ranger.” Take advantage of all the brainpower around you to get you started on the right foot and continue there. Many resources are available. We all tend to be so excited about our business idea that we fail to listen to input from others. We don’t learn by talking but by listening.

In my article published in the Park Rapids Enterprise June 23, 2010, I detailed available help from SCORE (at one time the acronym stood for Service Corps of Retired Executives but not all SCORE counselors are retired so the organization just uses the acronym today), SBDC (Small Business Development Centers), SBA (Small Business Administration), MN State (Minnesota State Community and Technical College), HCREDC (Hubbard County Regional Economic Development Commission), and your local banker. All provide tools and/or advice at no charge to you and have helped many other start-up ventures. Their experience can be invaluable to you.

Informal advisors of people you respect are useful. They may be other business people, colleagues, friends, and family. People just naturally want to help someone who asks for advice.

Libraries, local, university, and www.jjhill.org are good sources for information. Trade publications and government agencies such as the U.S. Census can be helpful in obtaining data.

The biggest change in available resources for information is the Internet. Web sites, Google, Internet Explorer, and other tools supply almost unlimited information.

In addition to the free resources, it is prudent to invest in professional advice from an attorney and a certified public accountant.

Ask for counseling, use available business templates or tools, enroll in training courses, and use your judgment after you have all this input to develop your course of action. I was once given very good advice, “Never fail by yourself!”

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