Too Many Choices! I’m Stuck!

At this point, if you have been sorting through the various alternatives that will lead you to doing more of what you love, you will likely have several solid candidates. Using your personal values as the filter has lent accuracy and credibility to each…but you’re stuck!

Randomly moving between the choices will only serve to confuse the process and, depending on your energy and mood, you will see the same choice in different light on a different day. Yikes!

Try the ‘reverse’ approach.

Recently, a friend moved from a larger to a smaller home. She had been a lifelong collector of art and was struggling where to put the individual pieces – largely because there was no way there was enough wall space for everything in the new home. Something had to go…but what?

The reality is that, when confronted with more choices, the brain struggles to make decisions. An effective process of elimination will make the difference. The difficulty for my friend was that she started with her favourite pieces and worked down. Since she was fond of most of the work, eliminating anything became very problematic.

I suggested she start by eliminating the pieces that, under no circumstances, would work in the new house. Size shape and color scheme were actually quite easy ways to rule out pieces that could not practically  and appropriately fit in the new home. She actually ruled out 2/3 of the art work.

What she had left were not only beautiful pieces, it was easy to find a place in the new home. Unstuck!
The same process works when looking at alternatives for new directions in your life. You may want to do all of them – and maybe you can some day – but right now, which are the ones that just won’t work? Once those have been  set aside, the choices left behind will make it simpler and easier to decide where to begin the transition to doing more of what you love.

If this doesn’t, call your coach!

To Do More Of What You Love, Start With A Map

Once a person is seriously engaged in changing their lives to do more of what they love, it becomes quite apparent that there are many moving parts to the process. The various elements are diverse, often unclear, and sometimes actually compete with one another. Organizing this wide array of information is an imposing task and this is the step where many people give up in confusion or frustration.

Fear not, my friends, there is definitely a way!

When I decided to start a coaching practice, there was a variety of critical elements to address for me to launch my business: coach training and certification, financial aspects – both personal and business, marketing plan, tools and assessments, physical location, professional affiliations to name a few.

That’s when I discovered mind mapping. Starting with the central point naming the goal (become a coach), each of the critical elements has its own stream, with its own elements related to it. Once complete, the map gives you a visual image of your entire project and allows you to create the individual action steps to complete each piece. Mind mapping is the creation of Tony Buzan and his website provides a great explanation of the process. If you want to test another version, a free version of mind mapping can be found here.

Of course, if you are still stuck, you can call your coach!

Business plan can boost odds of success

Q: Why prepare a business plan? I'm very experienced in my field and don't need financing. My uncle says I have a good idea and should just get started before somebody else beats me to it.

A: The need for business planning is all about managing risk. The greater the risk, the greater the need to investigate, research and think through all relevant aspects of starting or operating a business.

Some business ventures or situations carry little risk. Maybe your business gives you a nice, stable income, you don't particularly want or need to grow, or you and your employees could survive if your business suddenly shut down. In those cases, you may not need a formal business plan, and need only keep your eye on your market and on others who could affect your business.

But the more you are risking, in terms of dollar investment, time spent deferring something else you need or want to do, or maybe forgoing income for your family, the more you need to formalize your plan.

Veteran SCORE counselor and small-business owner Matt Fitzgerald says: "The value lies in the process of researching and thinking about your business in a systematic and critical way … not in producing a finished document."

Avoiding mistakes

You'll need a document, though, to share your ideas and plan with others. The plan is not only important for starting up, but for running the business as well. It takes time now, but can avoid costly, perhaps disastrous, mistakes later.

For startups, it gives you an indication of how successful you might be. For existing businesses, it tells you the condition of your operation. Can you take advantage of opportunities that may arise or deal effectively with challenges that may occur?

You can start or run a successful business without a business plan, and you can fail with a good one. An appropriate plan just increases your chances of success.

SCORE counselor

Fitzgerald suggests a thorough review of a business plan from someone like a SCORE counselor. "Getting a third party to serve as a sounding board will provide valuable, unbiased feedback on how to improve things, look at the plan from a lender's or investor's perspective, and raise questions you may have overlooked," he says.

Fitzgerald will teach a SCORE workshop on business planning on June 16. Learn more and register at www.scorehouston.org.

SCORE seeks volunteers to help small business

Published in the May 22, 2015

Q: How can I volunteer some of my time to help small business owners start and grow their businesses?

A: SCORE is a nonprofit association where you can volunteer to share your business experience, give back to your community, gain satisfaction from seeing others succeed, and connect with like-minded people. Each year, SCORE volunteers touch thousands of lives, sharing their knowledge and experience so that entrepreneurs can realize their dreams of business success. 

Nationwide more than 11,000 men and women in 320 SCORE chapters donate their time and talent to assist America's small businesses. At SCORE Houston, volunteers provide free, confidential one-to-one and team business mentoring and low-cost training workshops and seminars. We now counsel aspiring entrepreneurs at 12 locations and we teach about 130 workshops each year in 16 locations around the Houston area.

Whether you have owned your own small business, come from a large company, are retired, are a college student, or just have a sincere commitment to helping small businesses or volunteering, there is a place for you as a SCORE Houston volunteer.

Whatever their background, SCORE counselors share a belief that small business owners are more likely to succeed if they have business mentors to guide them. We are seeking new volunteers of diverse backgrounds and experiences to complement and grow our team of 105 volunteers in the Houston area. 

SCORE volunteers can contribute their time in different ways. 

Many are business mentors who meet with our clients to help them with business plans, apply for financing, and grow their businesses. But, being a large service organization, we require administrative, technical, and management functions so we can provide our client services. 

Much of our work can be done in the evenings or weekends from anywhere. 

So, there are lots of ways a volunteer can help SCORE help other people.

New members go through an orientation program to get familiar with SCORE and comfortable with the counseling process. All members stay up-to-date by attending regular monthly training sessions.

In Houston, we share offices and work closely with the U.S. Small Business Administration. We have twelve satellite locations throughout the city and are looking to establish more. Visit our website, www.Houston.SCORE.org. 

If you have questions or would like to volunteer to help people achieve business success, please e-mail us at scorehouston@gmail.com, or, call our office at 713-487-6565.

Workshop explores options for starting a business

Published in the May 10, 2015 

Q: I want to get started in a small business, but I can't decide among buying an existing business, operating a franchise or starting from scratch. Can you suggest anything? 
A: There are a number of ways of getting into business, each with its pros and cons. Fortunately, there's a free workshop coming up that can help you sort through the alternatives. SCORE and Capital One Bank have partnered to present the "Business Alternatives for the Entrepreneur" workshop scheduled for 9 a.m. to noon Thursday at the Kingdom Builders' Center, 6011 W. Orem Drive. This is one of a series of workshops designed to help small businesses survive and thrive.

The workshop has three parts.

1. Diana Trondsen, FranNet Franchise Consultant, will show you how to search for and evaluate franchise alternatives. Trondsen has more than 15 years of experience in single- and multi-unit franchises.Trondsen will help you explore the franchise opportunities and options that can meet your budget for entry while maximizing your earnings. She will take you through the process of choosing a business that will fit you well and give you control over your finances and plans for retirement. Learn why it is so important to make the right choice upfront and how to go about finding the right fit for you.
   
2. Mike Fadden, SCORE mentor, will help you explore whether you should start a new business or buy an existing one. Fadden has been involved in the startup of three companies and has business acquisition experience. He will review the 10 most important factors you need to consider in evaluating acquisition options. Sample topics include: What management experience is required? Is funding one alternative easier than funding another? Will you control your own destiny? What are the business valuation metrics?
   
3. Neil Polansky, of the city of Houston's Business Solutions Center, will discuss specific business operating requirements including "doing business as" designations, state sales tax permits, federal taxpayer ID numbers, appraisal of business personal property (rendition), financing options, deed restrictions, the Texas Deceptive Trade Practices Act, city contracting basics, and the Hire Houston First and Liftoff Houston programs.

At the workshop you also will have the opportunity to meet one-on-one with a SCORE mentor to discuss your situation and network with other small-business operators who are facing similar challenges.

Awards program includes small business tips

April 26, 2015

Q: Where can I go to network with other small-business owners and lenders, and pick up some pointers?

A: I suggest attending the 2015 Small Business Awards Luncheon/Workshops/Expo hosted by SCORE Houston. This year's event will be on May 7 at the JW Marriott Houston, 5150 Westheimer, in the Galleria area.

The U.S. Small Business Administration will present seven of Houston's best small-business entrepreneurs with prestigious awards including the Small Business Person of the Year. The keynote speaker will be Sallie Sargent, president and CEO of the Houston Super Bowl Host Committee.

Before the luncheon, SCORE will conduct two small-business workshops.

"Creating an Intentional Culture": Liz Lara-Carreño, outreach program director for the Goldman Sachs 10,000 Small Business Program at Houston Community College, will discuss how to gain and retain a competitive edge by aligning the environment, communications and emotional drivers to a company's strategic vision and brand.

"Email vs. Social Media: Which One is Right for Small Business?" Business coach Toni Harris will discuss how the various social media platforms fit in your business; which platform has the best return on investment; and how to determine which tools are effective at growing your business.

At the event you also can visit exhibits and network with sponsors, representatives of banks and other lending institutions, small-business entrepreneurs, SCORE mentors and other SCORE Alliance Partners. To learn more and register for the luncheon and workshops, visit www.scorehouston.org.

Marvett Sawyer Howard will receive the 2015 Financial Services Champion of the Year Award for her work fostering the development of the Houston small business community. Howard is the assistant vice president for community development banking at Capital One Bank.

Among the many programs that she directs or helps coordinate is Capital One's "Getting Down to Business" Program. This is an innovative technical assistance training program designed specifically for small businesses with annual revenue of less than$1 million.

The program is free and features a multicourse in-depth curriculum, offered over eight months. Capital One will match funds that participants deposit in a savings account up to $2,000, which the business owners can use for operations, staffing or the purchase of supplies upon completion of the program. Deadline: May 5. Apply Online Now.

Construction college can upgrade small contractors

April 12, 2015

Q: I've been able to start up my construction business, but to really get going I could use some advice on how to win bids, effectively deal with general contractors and, in general, operate my small business. Where can I get help?

A:  I recommend the Construction Contractors' College, a program of the Entrepreneurs' Learning Center at the Kingdom Builders' Center. This program launches on June 9 with a curriculum shaped by representatives from certifying agencies, experienced contractors and successful small businesses. The program's major sponsor is Capital One Bank, and it's free to participants. Qualified graduates have access to more than $750,000 in funding to assist in expanding their businesses.

The overall goal of the Construction Contractors' College is to help small and minority business owners in construction and construction services who have been in business at least one year. It's designed to prepare owners to bid on contracts in the public and private sectors. The curriculum has been developed and will be taught by experienced business leaders to achieve the following objectives:

1. Develop sound business practices.
2. Improve the credit-worthiness of the individual owner and the business.
3. Position businesses for bidding opportunities.
4. Take the owner's business to its next level, particularly in the area of economic development, enabling these businesses to become employers increasing the financial stability for themselves and their employees.
5. Give business owners face-to-face time with general contractors.

The comprehensive curriculum is designed to provide relevant and useful information that can be practiced immediately. Course topics include credit awareness, specialized business plan development, certification, bidding, project management and access to capital.

Participants will learn to develop a business structure around their skill or trade, improve their likelihood of securing financing, have direct access to the Metropolitan Transit Authority's express certification process and receive coaching and counseling from experienced professionals, including SCORE and other seasoned consultants.

The six-month program is for small construction contractors who have been in business at least a year and have filed tax returns in their business names. Classes will meet two evenings each month at the Kingdom Builders' Center, 6011 W. Orem Drive. Application for the next term closes on May 1, and only 20 slots are available to the best-qualified candidates.


Click here to learn more and apply online or call 713-726-2519.