The Third Annual
Small Business Success Seminar
Saturday, September 15, 2007
8:30 a.m. – 4:30 p.m.

Sponsored by:
SCORE®, Counselors to America’s Small Business
City of St. Petersburg Business Assistance Center
University of South Florida, St. Petersburg

Seminar Highlights:
(Learn How the 3 Ms, Money, Marketing and Management
drive your business to success!)

The 3 Ms Drive Successful Businesses- Presenter, Ron Caffrey, SCORE®

M 1: Money

• Adequate start-up funds – first 3 months
• Attention to accounts receivable
• Careful inventory management
• Line of credit before you need it
• Positive cash flow

M 2: Marketing

• Research, competitive analysis
• Unique selling proposition
• Focus offerings and action
• Court and question existing customers
• Marketing/Communications budget

M 3: Managements

• Prepare, monitor and update your business plan
• Two hours per week for planning and assessment
• Monitor cash flow
• If fun is gone…change something

Marketing and Advertising- Presenter, Sheryle Isaacs

• The Importance Of Marketing And Planning
• Several Effective Marketing Strategies
• Implementing a Marketing Plan.
• Learn A Few Proven Marketing, Promotional And Advertising Tips For A Small Budget
• Free Resources To Look Professional On A Small Budget
2007 Success Seminar

The Law and Your Business - Presenter, Gary Teblum

Types of Entities and Selection:

• Sole proprietorship, Partnership, LLC , S Corporation, C Corporation

Issues of Entities:

• Documentation of relationship with co-owners
• Respecting the separateness of the legal entity
• Utilization of legal entity name
• Fictitious trade names registration and compliance

Protection of Intellectual Property:

• Trademarks, trade names, copyrights, patents
• Domain names, website ownership
• Non disclosure and invention agreements with employees and others given access

Securing Necessary Licenses - Occupational Taxes

Qualification to do Business in Other States

Employee Issues:

• Employee Handbook or Manual
• Proper documentation of employee benefits
• Health plan
• COBRA rights
• Retirement or 401(k) plan

Finance, Accounting, and Tax Issues:

• Raising debt and equity capital
• Sources
• Securities laws
• Register sales or qualify for exemption
• Antifraud
• State and federal
• Payroll and payroll taxes
• Potential personal responsibility
• Refrain from using payroll taxes to fund cash shortfalls
• Electronic deposits
• Sales taxes
• Registration
• Returns and payment
• Resale exemption certificate
• Employment files and documents:
• Maintaining employment files
• Application forms
• Background check
• W-4 - Exemptions
• I-9 - Immigration
• W-2 - Timely preparation and distribution

Employee Performance, Termination, and New Hire Issues:

• Disciplinary memos
• Periodic written reviews
• Factual not judgmental
• Sensitivity to discriminatory actions or statements
• Workers Compensation coverage
• New hire reporting
• Florida statute 409.2576

Insurance Issues:

• Adequate types and amounts of insurance
• Liability
• Property
• Windstorm and flood
• Business interruption
• E&O and D&O

Accounting, Taxes, and Your Business - Presenter, Todd Rosenberg

The Roles of an Accountant:

• Strategist
• Custodian
• Advisor
• Compliance
• Conductor
• Promoter

You Need an Accountant Because:

• Time Management
• Objectivity
• Expertise
• Experience and Knowledge

Types of Accountants and Qualifications:

• Bookkeepers
• Accountants
• CFOs
• CPAs/Local CPA firms
• Regional CPA firms
• National CPA firms
• Qualifications: CPA, ABA, ABV, AFE, ATA, ATP, AVA, AES, CCSA, CB, CBM, CDFA, CFA, CFE, CFSA, CFM, CFP, CrFA, CFC, CFFA, CFD,
CFE, CFS, CGAP, CGFM, CHFP, CISA, CISM, CITP, CIA, CM, CMA, CM&AA, CPP, CPEA, CPFO, CQA, CRP, CTP, CVA, ECS, EA, FCPA, PFS

How to Select a Firm:

• Background
• Certification
• Personality
• Fees
• Ask Around

Cash Flow Management - Presenter, Dick Swarts, SCORE®

Financial Management:

• Basic Accounting System (Monthly Report Card)
• Looks Backwards
• Forecasting/Budgeting System
• Looks Forward
• Monitoring System
• Compares Actual to Forecast
• Dictates Strategy or Changes

Financial Data:

• Balance Sheet
• Operating Statement (Profit & Loss)
• Accrual vs. Cash Methods
• Source and Application of Funds
• Startup Funding
• Break Even Analysis: BE=Fixed Cost/Sales Less Variable Cost
• Cash Flow Measurement & Projections

Accrual Basis:

Matches Revenues to Related Expenses

• Post Revenue at Invoice
• Post COGS with Revenues
• Accrues Annual or Quarterly Expenses Monthly

Must be Used

• When a corporation exceeds $5 million in revenue
• Where there is inventory
• Where there are credit sales

Taxes May be Due Before Revenue Received

Cash Basis:

• All transactions posted when cash flows in or out
• Usually used for sole proprietor in service business
• Not appropriate for retail/wholesale or manufacturing
• Taxes paid after revenue received

Cash Flow Statement:

• Converts the accrual basis used to prepare the Income

tatement and Balance
Sheet to a cash basis.

• Five Categories:

• Cash Flow From Operations
• Cash From Net Change in Working Capital
• Cash Flow From Financing Long Term Debt
• Cash Flow From Purchase or Sale of Fixed Assets
• Cash Flow From Net Changes in Owner’s Capital

Start-Up Expenses:

• Buildings / Real Estate
• Leasehold Improvements
• Capital Equipment
• Location / Admin Expenses
• Opening Inventory
• Advertising / Promo Expenses
• Other Expenses
• Contingency Fund
• Working Capital

Improving Cash Flow:

• Good inventory management
• Concentrate on higher margin items
• Take advantage of trade terms
• Shop for lower priced suppliers
• Control operating expenses
• Extend bank loans on better terms
• Pay at the last minute (maintain good relations)

Accounting Tool Kit:

• QuickBooks Basic, Pro, Premier 2005, Industry Specific, Payroll
• QuickBooks Simple Start $100 to Enterprise $3500
• Simply Accounting
• Peachtree
• Microsoft Small Business Manager
• Cougar Mountain
• Oracle Small Business Suite
• Vista
• MAS 90 Small Business
• Business Works Accounting

Useful Web Sites for Reviews

• www.2020software.com

• www.businesstown.com/accounting/basic.asp

Consult with Your CPA!

QuickBooks Accountant Editions

Business Owners’ Experiences - Presenters, Betty Hayes and Philippe Piquet

Ms. Hayes spoke about her experience owning Uncle Dea’s Family Restaurant. Mr. Piquet discussed lessons learned as a co-owner of Twigs and Leaves, a native plants nursery.

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Please contact the City of St. Petersburg Business Assistance Center for information regarding free business counseling and workshops for the start-up and expansion of small businesses.

727-893-7146

www.stpete.org/bac