SCORE Big With Your Small Business

June 11, 2008


asdamd/photos/stylus/29604-SCORE250.jpg

Photo by iStockphotos

Ken Yancey, CEO of the Service Corps of Retired Executives, explains how to get complimentary counseling on starting, growing and managing your business.

By: MATT ALDERTON

A business isn't just a company. It's also a classroom. It's equal parts learning and producing. In fact, that's how it's always been. One need only flip through a history book in order to prove that business owners aren't merely merchants, but also teachers and students, mentors and protégés. In that respect, 15th century cobblers are no different than 21st century CEOs.

Just ask Ken Yancey. As CEO of the Washington, D.C.-based Service Corps of Retired Executives, better known as SCORE, he spends his days espousing the benefits of mentoring within the small business community. And thanks to his army of volunteer business veterans, those benefits are stronger and more numerous than even before. What's more, Yancey's quick to point out, they're free.

The ProNet Small Business Resource Center recently spoke with Yancey to find out how SCORE—which has counseled businesses such as Vermont Teddy Bear Company, Vera Bradley Designs, Jelly Belly Candy Co. and Jimmy Johns Sandwich Co.—can help both new and seasoned small business owners become smarter, more satisfied and more successful.

Small Business Resource Center: What is SCORE and what do you?

Yancey: SCORE is an organization of volunteers—mostly retired businessmen and women—who provide counseling and training to small business owners and people that would like to start a business. We were founded by the Small Business Administration in 1964 and our primary services are free to any small business owner that comes. If you're a small business owner or you're interested in being involved, it's to your best advantage to come and sit down with one of our counselors and go over your challenges, your opportunities, your business plan, your ideas, whatever it happens to be. We have 370 chapters nationwide and we actually do business in about 800 locations; each chapter has a series of branches within its community where it offers services.

SBRC: What services, exactly, does SCORE provide at each of its 800 locations?

Yancey: There are really three things that we offer today. First is one-to-one counseling and it's free to anybody that asks; it's available in any of our local offices or any of their branch locations. The second is that same counseling, only it's available online via e-mail; we've been counseling online since 1997, so we were one of the really early advice sites on the Internet. Today that represents about one-third of our business; more than 100,000 people each year take advantage of our online counseling. The final service that we offer is a series of workshops or seminars; these do have a small charge associated with them—it averages about $35 nationwide per workshop—and last year we did over 7,000 of them on topics that relate to starting, growing, managing, buying and selling a business.

SBRC: How can folks find SCORE?

Yancey: There are a couple of simple ways to get to your chapter. First, we have a national 800 number, which is 1-800-634-0245. Probably the easiest, though, is on our Web site at www.score.org. On the left-hand navigation there's a "Find SCORE" function; you pop your ZIP code in and we'll let you know what chapter's closest to you and give you all the information you need to follow up.

SBRC: Who can benefit most from SCORE counseling?

Yancey: Small business owners, existing business owners, everyone. We've counseled businesses that are in excess of 100 years old and we've talked to people who just have an inkling of wanting to start a business, but aren't sure what they want to do or how to begin. We can take that person, for instance, and walk them through a series of questions—what are their hobbies, what are their interests, what is their background, what kind of business experience do they have—and help them make some decisions about what might be best for them, then run through an individual assessment, a feasibility study, a business plan and whatever else makes sense. As the baby boomer generation continues to mature, we're also starting to see more companies talk to us about exit strategies. I would say that the thing we do best, though, is help a business that's in whatever stage work through its business plan and help create a path forward.

SBRC: What can't an entrepreneur find at SCORE?

Yancey: We don't give legal advice and we don't give tax advice, although we're happy to sit down with small business owners and help them find their issue. For example, if they're working on a contract, we'll take a look at the contract and help them be a little bit better prepared when they go to seek professional assistance. Because the laws and tax code change so often we don't have any interest in replacing or replicating what you can get when you go to professional counsel, whether it's a lawyer or a CPA or somebody along those lines.

SBRC: Who, exactly, are your volunteers?

Yancey: Our volunteers are retired businessmen and women. About 20 percent of them are still active; they're all seasoned businesspeople that have experience. Somebody told a joke not long ago about our volunteers: There's a guy down in a hole and a couple people walked by and weren't able to help him and a SCORE volunteer walked by and the guy says, "Gosh, can't you help me?" and the SCORE volunteer jumped in; the guy looked at him and says, "Why did you do that?" and he says, "Well, you know, I've been here before and I know the way out." That's really what it is that our volunteers provide. They have the experience, they've made payrolls, they've made difficult decisions and, let's face it, they've made bad decisions, too. So they have that ability to share. I think that most people agree that regardless of whether you're a small business owner or you work for somebody else, it's really a good thing to have a mentor and to engage that person on issues and challenges related to your business. Our volunteers really provide that coaching, including mentoring advice, handholding and occasionally cheerleading. It's not a bad thing just to get in front of a SCORE volunteer and have them say, "You know what? You're doing great. You're on the right track." That validation is really valuable for all of us.

SBRC: Being that your volunteers are business veterans, are they able to effectively counsel small business owners about emerging business strategies, such as Internet marketing?

Yancey: I won't tell you that every single volunteer I have has expertise when it comes to Internet marketing. What I will tell you is that if they don't have it, they know where to go to get it. They can engage another volunteer within our organization to provide that very specific advice about search engine optimization and things of that nature. So yes, we have the ability to bring that kind of a talent to bear.

SBRC: Because you're related so closely to the SBA, are you able to help small business owners navigate their programs?

Yancey: We're very closely affiliated with the Small Business Administration. They actually founded SCORE in 1964 and we remain a grantee of the SBA so we're very close to them. And the answer is yes, our volunteers can help small business owners that are interested in SBA programs, whether it's the new Patriot Express loan or Community Express loan, 504 loans or 8(a) certification, we have volunteers and we're able to refer small business owners to others who can help them through those processes. Clearly, the SBA has a lot of terrific products and services. They're not as difficult to access as they once were, so it's a really good option for many, many small business owners out there.

SCORE recently launched a series of online workshops for small business owners; to see a schedule of workshops and sign up, visit www.score.org/online_courses.html. Meanwhile, for more information about SCORE and its services, please visit www.score.org or call 1-800-634-0245.

SCORE Big With Your Small Business

June 11, 2008


asdamd/photos/stylus/29604-SCORE250.jpg

Ken Yancey, CEO of the Service Corps of Retired Executives, explains how to get complimentary counseling on starting, growing and managing your business.

By: MATT ALDERTON

A business isn't just a company. It's also a classroom. It's equal parts learning and producing. In fact, that's how it's always been. One need only flip through a history book in order to prove that business owners aren't merely merchants, but also teachers and students, mentors and protégés. In that respect, 15th century cobblers are no different than 21st century CEOs.

Just ask Ken Yancey. As CEO of the Washington, D.C.-based Service Corps of Retired Executives, better known as SCORE, he spends his days espousing the benefits of mentoring within the small business community. And thanks to his army of volunteer business veterans, those benefits are stronger and more numerous than even before. What's more, Yancey's quick to point out, they're free.

The ProNet Small Business Resource Center recently spoke with Yancey to find out how SCORE—which has counseled businesses such as Vermont Teddy Bear Company, Vera Bradley Designs, Jelly Belly Candy Co. and Jimmy Johns Sandwich Co.—can help both new and seasoned small business owners become smarter, more satisfied and more successful.

Small Business Resource Center: What is SCORE and what do you?

Yancey: SCORE is an organization of volunteers—mostly retired businessmen and women—who provide counseling and training to small business owners and people that would like to start a business. We were founded by the Small Business Administration in 1964 and our primary services are free to any small business owner that comes. If you're a small business owner or you're interested in being involved, it's to your best advantage to come and sit down with one of our counselors and go over your challenges, your opportunities, your business plan, your ideas, whatever it happens to be. We have 370 chapters nationwide and we actually do business in about 800 locations; each chapter has a series of branches within its community where it offers services.

SBRC: What services, exactly, does SCORE provide at each of its 800 locations?

Yancey: There are really three things that we offer today. First is one-to-one counseling and it's free to anybody that asks; it's available in any of our local offices or any of their branch locations. The second is that same counseling, only it's available online via e-mail; we've been counseling online since 1997, so we were one of the really early advice sites on the Internet. Today that represents about one-third of our business; more than 100,000 people each year take advantage of our online counseling. The final service that we offer is a series of workshops or seminars; these do have a small charge associated with them—it averages about $35 nationwide per workshop—and last year we did over 7,000 of them on topics that relate to starting, growing, managing, buying and selling a business.

SBRC: How can folks find SCORE?

Yancey: There are a couple of simple ways to get to your chapter. First, we have a national 800 number, which is 1-800-634-0245. Probably the easiest, though, is on our Web site at www.score.org. On the left-hand navigation there's a "Find SCORE" function; you pop your ZIP code in and we'll let you know what chapter's closest to you and give you all the information you need to follow up.

SBRC: Who can benefit most from SCORE counseling?

Yancey: Small business owners, existing business owners, everyone. We've counseled businesses that are in excess of 100 years old and we've talked to people who just have an inkling of wanting to start a business, but aren't sure what they want to do or how to begin. We can take that person, for instance, and walk them through a series of questions—what are their hobbies, what are their interests, what is their background, what kind of business experience do they have—and help them make some decisions about what might be best for them, then run through an individual assessment, a feasibility study, a business plan and whatever else makes sense. As the baby boomer generation continues to mature, we're also starting to see more companies talk to us about exit strategies. I would say that the thing we do best, though, is help a business that's in whatever stage work through its business plan and help create a path forward.

SBRC: What can't an entrepreneur find at SCORE?

Yancey: We don't give legal advice and we don't give tax advice, although we're happy to sit down with small business owners and help them find their issue. For example, if they're working on a contract, we'll take a look at the contract and help them be a little bit better prepared when they go to seek professional assistance. Because the laws and tax code change so often we don't have any interest in replacing or replicating what you can get when you go to professional counsel, whether it's a lawyer or a CPA or somebody along those lines.

SBRC: Who, exactly, are your volunteers?

Yancey: Our volunteers are retired businessmen and women. About 20 percent of them are still active; they're all seasoned businesspeople that have experience. Somebody told a joke not long ago about our volunteers: There's a guy down in a hole and a couple people walked by and weren't able to help him and a SCORE volunteer walked by and the guy says, "Gosh, can't you help me?" and the SCORE volunteer jumped in; the guy looked at him and says, "Why did you do that?" and he says, "Well, you know, I've been here before and I know the way out." That's really what it is that our volunteers provide. They have the experience, they've made payrolls, they've made difficult decisions and, let's face it, they've made bad decisions, too. So they have that ability to share. I think that most people agree that regardless of whether you're a small business owner or you work for somebody else, it's really a good thing to have a mentor and to engage that person on issues and challenges related to your business. Our volunteers really provide that coaching, including mentoring advice, handholding and occasionally cheerleading. It's not a bad thing just to get in front of a SCORE volunteer and have them say, "You know what? You're doing great. You're on the right track." That validation is really valuable for all of us.

SBRC: Being that your volunteers are business veterans, are they able to effectively counsel small business owners about emerging business strategies, such as Internet marketing?

Yancey: I won't tell you that every single volunteer I have has expertise when it comes to Internet marketing. What I will tell you is that if they don't have it, they know where to go to get it. They can engage another volunteer within our organization to provide that very specific advice about search engine optimization and things of that nature. So yes, we have the ability to bring that kind of a talent to bear.

SBRC: Because you're related so closely to the SBA, are you able to help small business owners navigate their programs?

Yancey: We're very closely affiliated with the Small Business Administration. They actually founded SCORE in 1964 and we remain a grantee of the SBA so we're very close to them. And the answer is yes, our volunteers can help small business owners that are interested in SBA programs, whether it's the new Patriot Express loan or Community Express loan, 504 loans or 8(a) certification, we have volunteers and we're able to refer small business owners to others who can help them through those processes. Clearly, the SBA has a lot of terrific products and services. They're not as difficult to access as they once were, so it's a really good option for many, many small business owners out there.

SCORE recently launched a series of online workshops for small business owners; to see a schedule of workshops and sign up, visit www.score.org/online_courses.html. Meanwhile, for more information about SCORE and its services, please visit www.score.org or call 1-800-634-0245.