Small Business Development Center
At Chemeketa Center for Business & Industry
chemeketa students

Category Archives: Uncategorized

Marketing Basics

By Chemeketa SBDC

A basic marketing class that focuses on:

  • What is your target market?
  • How do you determine your target market?
  • How do you reach your target market?
  • How do you know if your marketing is working?

Date: Thursday, June 22
Time: 12:30 to 2 pm
Location: Chemeketa Center for Business & Industry, 626 High Street NE, Downtown Salem
Cost: $49
Registration and Information: 503.399.5088


Business Loans – Preparing a Loan Package

By Chemeketa SBDC

Provides basic overview of loan packaging and important information about the factors that lenders take into consideration when reviewing loan applications.

Date: Thursday, April 27
Time: 12:30 to 2 pm
Location: Chemeketa Center for Business & Industry, 626 High Street NE, Downtown Salem
Cost: $49
Registration and Information: 503.399.5088


Running a Profitable Business Using QuickBooks 2016

By Chemeketa SBDC

A profitable business with improper cash flow can mean the death of a business.  Join us to review important topics you need to know for cash flow management and analysis.

Each class is on a Thursday morning from 8:30 to 11:30 am in the Computer Lab at Chemeketa’s Small Business Development Center. Each sessions costs $149. Join us for a hands-on, practical class using QuickBooks 2016.

 

Thursday, April 20
QuickBooks – Understanding Cash Flow
Why am I profitable but have no cash? This session will cover:
 Understand Financial Statements
 Analyzing the Cash Flow Statement
 Choosing Profitable Tactics for Cash Flow

 

Thursday, April 27
QuickBooks – Estimating and Invoicing
How can estimating improve cash flow in your business? This session will cover:
 Estimating Job Revenue & Expenses
 Invoicing & Collecting for Work Done
 Tracking Jobs for Better Decisions

 

Thursday, May 11
QuickBooks – Receivables & Payables
How can I manage receivables and payables profitably? This session will cover:
 Setting Up Customer & Vendor Records
 Tracking Receivables & Payables Effectively
 Collecting Receivables

 

Thursday, May 25
QuickBooks – Tracking Time & Payroll
How do I pay employees and payroll taxes on time and legally? This session will cover:
 Setting Up Payroll & Employee Records
 Paying Employees & Payroll Taxes Accurately and on Time
 Tracking and Billing Time Worked

 

Thursday, June 8
QuickBooks – Inventory Management
How can I manage inventory and not let it manage me? This session will cover:
 Setting Up Items for Detailed Information
 Purchasing & Selling Items Effectively
 Tracking & Adjusting Inventory without Overwork

 

Thursday, June 15
QuickBooks – Reports
How can I get accurate and timely feedback on results? This session will cover:
 Using Standing Reports for Management, Investors, and Lenders
 Creating Customized Reports for Management

 

Thursday June 22
QuickBooks – Budgeting
How can I plan for the future and track my results? This session will cover:
 Using QuickBooks only
 Using Spreadsheets & QuickBooks
 Tracking Results Compared to Budget

 

Date: Thursdays, April 20 – June 22
Time: 8:30 to 11:30 am
Location: Chemeketa Center for Business & Industry, 626 High Street NE, Downtown Salem
Cost: $149 each session
Registration and Information: 503.399.5088

 

 


Group Therapy for Social Media

By Chemeketa SBDC

Join us for a monthly group-advising session where you:

  • Bring your questions about website strategies, social media, online marketing, and sales writing
  • Learn from other awesome business owners
  • Benefit from group brainstorming about your questions
  • Set marketing goals for the coming month
  • Meet the third Thursday of the month (January through June)

There’s no cost to attend.

Date: January 19, February 16, March 16, April 20, May 18 and June 15
Time: 3 to 4:30 pm
Location: Chemeketa Center for Business & Industry
626 High Street NE, Downtown Salem (free parking at Marion Parkade)
Cost: No Charge
Information: 503.399.5088


Advanced QuickBooks 2016

By Chemeketa SBDC

QuickBooks can be as simple or complex as you wish to make it.  The success of QuickBooks is essentially based on your ability to set up the system in the most effective way to help you derive the information you want.

Tuesday, February 28
Introduction and Expectations
Customer and Vendor Review
Setting Up Employees
Recording Time and Payroll

Tuesday, March 7
Report Center
Standard Reports
Customizing Reports
Excel Spreadsheets

Tuesday, March 14
Banking and Borrowing
Budgeting
Inventory Management
Customizing Forms

Date: Tuesdays, February 28 – March 14
Time: 8:30 am to 12:30 pm
Location: Chemeketa Center for Business & Industry, 626 High Street NE, Downtown Salem
Cost: $195
Registration and Information: 503.399.5088


The Importance of Entrepreneurs

By Chemeketa SBDC

If you’ve studied economics, you might have learned that there are four basic types of resources.

These are: land (which encompasses all natural resources), capital (meaning tools and machinery), labor (people) and entrepreneurship. Yes, that last one means business owners who take a risk to start and grow a business. This may even be you!

Entrepreneurs do wonderful things for our economy. They take initiative (read: risks) to create and sustain businesses that produce goods and services for the rest of us.

They create new goods and services that help us all now and in the future. They create jobs. They change the way society looks at solving problems.

Sometimes they create and foster positive social change. In short, we couldn’t exist without the entrepreneurs among us.

In September 2015, the United Nations adopted a list of 17 Sustainable Development Goals (http://sustainabledevelopment.un.org/topics) that start with “No Poverty” and “Zero Hunger.”

Right in the middle of the pack is goal No. 8, which is “Decent Work and Economic Growth.” The description reads: “Promote sustained, inclusive and sustainable economic growth, full and productive employment and decent work for all.”

Guess who is going to step up to the plate and get that done? Entrepreneurs, of course!

If you are one of these important people, then pat yourself on the back. And if you know someone else who is, give them a shout-out and thank them for their work. We all depend on them.


Home Based Business Issues

By Chemeketa SBDC

If you work from home, you already know that running your business out of your home is a great way to save on office and commuting costs. It also affords you the chance to be closer to your young family or older parents (if these are part of your daily responsibilities). But being at home also makes you vulnerable to interruptions and distractions that you need to consider — maybe even more than you might face at a traditional office. The most common pitfalls you are likely to encounter are usually the following. Consider these strategies to avoid letting distractions get in the way of getting business done.

Household responsibilities: Don’t let errands and household activities become a regular part of your workday. Cultivate the attitude that even though you are physically at home, you are mentally at work. If the vacuum cleaner is calling your name, you are probably avoiding some work task that you don’t want to do. Relegate chores to their own time — schedule them in if you have to. Emergencies do happen but keep in mind how you organized your personal time when you worked in the office and approach errands the same way working at home.

Family and friends: Talking to your spouse, your children or friends can potentially consume much of your time. Instead, work out a clear plan with your family and get their support. Let them know when you will be working so they will avoid disturbing your concentration. Hang a “Genius At Work” sign at your office area and when the sign is out — you’re not available.

Many mothers of infants and young children chose to work at home only to find that the care and nurturing of the children consume their full daylight hours. If that is the case, and the tender age of the child prevents the “Genius” sign from working — change your office hours, perhaps after the children are asleep or early in the morning before other activities have started.

Losing focus: Don’t interrupt yourself with office minutia or extraneous telephone calls. Set up your working environment to help you stay focused on the job at hand. Put temptations out of sight as much as possible. Make a list of tasks and/or projects to complete and check them off as you complete them. If non-business telephone calls (either welcomed or not) disrupt your work consider getting a separate line or letting your answering/voice mail pick up. And, don’t initiate personal calls during your office hours. If disruptions continue to be the bane of your workday, consider relocating your office to a different part of the house.

The luxury of working at home comes also from the flexibility of setting your schedule. If your job requires you to put in eight hours a day, consider breaking your “work day” into two shifts of four hours and maybe very odd hours, say from 5 to 9 a.m. and again from 7 to 11 p.m. Be flexible, be creative but be dedicated to your schedule.


Delegation Vital to a Business’ Growth

By Chemeketa SBDC

One of the harder chores that a business owner faces is delegation. While there may be immediate gratification when someone takes a task off your overwhelmingly full plate, the fact is that once you feel the relief, you may very well begin to question whether it has been done as well as you expected, as fast as you could do it, or even done right.

No one can do everything alone. We know that intellectually. But whether we can accept it personally is another step. Delegation is vital to the growth of a business. It is also important in developing the sills and abilities of your staff. It allows you to groom your staff for higher-level positions and to take increasing important roles in decision-making.

While delegation, the assignment of part of your work, is the reason you add staff, often we don’t fully understand that with delegation also must come authority and accountability. Three steps are generally needed for the delegation process to be successful.

First you must assign responsibility to someone. You must ask someone to do a job or perform a task.

Second, you must give that person the authority, the power, to accomplish the task or job. This may include the power to get specific information, order supplies, authorize expenditure and make some decisions.

Finally, you must create accountability, the obligation to accomplish the task. (Note that while you can create accountability – you cannot delegate it away. You remain accountable to your business. If your staff fails to complete the job – you are accountable.)

Communication, good communication, is the key to successful delegation. First you have to know what you want to accomplish and you need to clearly communicate the task or project. If there are any absolutes you also need to let you staff know what they are and how these absolutes must be accomplished. You need to think of the tools (including information) the person will need and let them know where they can access these tools. You should be very clear about the expected outcomes, deadlines and deliverables.

And then you need to get out of the way. And remember, it is always a learning process. If you cannot afford mistakes, you cannot avoid training. Set your staff up for success, not failure.


Confidential Business Advising Offered to Business Owners in Yamhill County

By Chemeketa SBDC

The Chemeketa Small Business Development Center (SBDC), with support from the McMinnville Area Chamber of Commerce, is pleased to announce the hire of a McMinnville-based business advisor Larry Strober who will be counseling business owners in Yamhill County. There is no cost to business owners for this service.

“We are thrilled to have an advisor on board to serve business owners in Yamhill County,” Marcia Bagnall, Chemeketa SBDC Director, said. “While the SBDC has worked with many businesses in Yamhill County over the years, it will be nice for the Yamhill business community to have support closer to home.”

Mr. Strober will be meeting with business owners one-on-one to discuss business strategies, expansion, hiring and other HR matters, financial issues, marketing needs, and other business-related issues. He has over thirty years of senior management experience with emerging companies, and has expertise in business planning and business turnaround. “I’m looking forward to helping strengthen local businesses and seeing them thrive,” he said.

Business owners may contact Mr. Strober directly at 415-720-8262 to set up an appointment, or call the McMinnville Chamber to be directed to him.

“We are excited to partner with the Chemeketa SBDC to bring this very valuable resource to Yamhill County,” Nathan Knottingham, President/CEO of the McMinnville Chamber, said. “The McMinnville Area Chamber of Commerce is committed to building a strong local economy and supporting resources like business advising, which is free of charge to businesses thanks to the support of Chemeketa, and fills a very real need for many of our small businesses and entrepreneurs in this area.”

The Chemeketa SBDC is 1 of 19 SBDCs throughout Oregon that provide assistance to new and established small businesses.  The Chemeketa SBDC is a part of the Chemeketa Center for Business & Industry, located at 626 High Street NE in Salem. Over the past 30 years they have provided training, resources, and advising to thousands of business owners in Marion, Polk, and Yamhill counties.   For more information about the SBDC, visit http://sbdc.chemeketa.edu, call 503-399-5088, or email sbdc@chemeketa.edu.

 


Five Steps to Project Your Business’ Sales

By Chemeketa SBDC

Every business owner should be forecasting sales. You may use actual numbers if you have historical financial records. But what do you do if you have nothing to refer back to? You will need to determine how many potential customers are there and how many of these potential customers are likely to buy from you, decide the average sale per customer, and then project this out for the year. Try this:

First, determine the total number of potential customers living in your territory. (Don’t forget — the more clearly you can define your customer — the more realistic your research!)

If you sell to the general public, you need to find the information from the new U.S. Census data for your market area. You can find this information on the Web (www.census.gov) or at the library. If you sell to other businesses, there are many potential sources of information. One of the best is a trade association that represents your industry. You can also find this information through a Web search or at the public library.

Once you have determined the total number of potential customers living within your geographical area, you have the base to begin narrowing down your target market.

Second, determine the number that will likely buy from you. You need to be realistic. Consider your competition (both in number and quality), consider that some of the people will not buy from you or your competition, and consider people will find substitutes for your product. What percentage of the total available population will you be able to attract?

Third, determine your average customer sales per year. How many purchases will your average customer make in a year? How much will they spend on each purchase? Is this a repeat business or once and only once? Does the average customer buy the same product/service, or will they need other complementary services? Trade associations are good sources of information to help answer these questions.

Fourth, determine your annual sales volume. You have determined the number of customers and determined the average amount each customer will spend per year. Multiply these two numbers together to calculate your expected annual sales volume.

Finally, evaluate the annual sales volume figure. Does the number you calculated make sense? If not, go back and work the numbers again. What assumptions have you made about your customers? How accurate or risky are these assumptions? You can guess, and this is not a bad place to start. But — then — you need to back up your assumptions with actual figures to gain the greatest degree of reality for your projections.