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Welcome to the WISE newsletter, a program of
The Falcone Center for Entrepreneurship at Syracuse University

Tuesday, May 30, 2006

Amatullah Yamini received the NAACP Small Business Owner Award

On May 25, the Syracuse/Onondaga Chapter NAACP honored some of Central New York's most influential minorities for their work in the community. One of thepeople honored at the 27th annual Freedom Fund Dinner was Amatullah Yamini, owns Salina Shoe Salon, who was the winner of Small Business Owner Award. Yamini said, "This means a lot to me because it's from the community. It's from people that I know, hometown people, and an organization that means hope and growth for African-American people."

Information on the other award winners can be found here.

Friday, May 26, 2006

Article: Are You Cut Out To Be a Consultant?

Not everyone is cut out to be a "free agent." In addition, some industries (or business areas) are more lucrative. So is being a consultant for you? This article looks at the hot jobs as well as questions you should ask yourself. Those questions include:
  • Are the skills you possess in demand, and do you have the experience companies will seek?
  • Can you handle erratic paychecks?
  • Are you able to market yourself, even as you work on projects?
  • Do you have financial security for soft spells?
To read the other questions, as well as the entire article, go here.

Thursday, May 18, 2006

Mother of Invention Grant

Whirlpool Corporation has announced a grant for women. The web site says:
Are you a mom with a great product innovation, invention, service or business idea, but don't know where to begin? Start by entering your idea in the 2006 Whirlpool Brand Mother of Invention Grant.

Whirlpool knows moms are identifying challenges and coming up with innovative and inventive solutions everyday. To recognize this motherly ingenuity, the 2006 Whirlpool Brand Mother of Invention Grant provides moms with the necessary business resources, such as seed money and expert advice, helping to make business dreams a reality.
For more information, visit the Mother of Invention Grant web site. Entries can be submitted online and are due by July 30, 2006.

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Tuesday, May 16, 2006

One simple task to do today

Seth Godin, author of Permission Marketing, last week asked business people to do one simple, five-minute task which he promises will pay off quickly. The task? Ask your web team -- or web developer -- to show you all of your error pages. In other words, find those bad links on your web site, pages that don't display when they should, etc., and fix them. Why? Error pages may frustrate your customers and drive them away.

Yes, this could be a quick task. Godin says it will take five minutes. Even if it takes longer, it will be worth it.

Monday, May 15, 2006

Notes & Quotes: Patricia A. Henriques

At the 2006 WISE conference, Patricia Henriques, founder of Management Alternatives, Inc., listed these success factors for new business owners:
  • Understand your personal ambitions
  • Understand your core competencies
  • Maintain your competitive edge
  • Remain true to your guiding principles
  • Be patient
  • Be flexible
  • Think & act strategically
  • Understand your competition's model

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Tuesday, May 09, 2006

Quote: Careers are like...

Careers, like rockets, don't always take off on schedule. The key is to keep working on the engines.
- Actor Gary Sinese

10 Tips for 10 Million Women

re:invention Blog does 10 Tips for 10 Million WomenTM. The 10 tips are given each week by a woman entrepreneur or executive, are that person's 10 tips for success. This past Saturday, the tips were given by Melissa Punier-Gregory, President and CEO of bluffly.com. Here are her first five tips:
  1. Never let 'em see you sweat
  2. Cut to the chase
  3. The door only closes if you have to change clothes
  4. No fear
  5. Speak softly and carry a small umbrella
To read more about these tips -- and to find tips 6- 10, go here.

The archive of all of the 10 Tips for 10 Million Women can be found here. The women interviewed are in all areas of business and their tips will help you succeed.

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Tuesday, May 02, 2006

How to Write a Fundable Business Plan

Here Brendon Wilson shares his notes from Ann Winblad's presentation at the Startup School 2006 sessions at Stanford University. Winblad is co-founding partner of Hummer Winblad, a venture capital (VC) firm in Silicon Valley focused solely on software.

Winblad didn't talk about a business plan in blow-by-blow details, but gives you a feel for what you need to consider and include when the business plan will be presented to a venture capitalists. In this case, she is focusing on business plans from software companies, but her ideas would be relevant to many businesses. She also talked about the "pitch" presentation.

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Templates for Your Business

The SCORE web site offers templates that may be useful to many small businesses. Those templates are:
  • Business Plan for a Start-up Business
  • Business Plan for an Established Business
  • Bank Loan Request for Small Business
  • Breakeven Analysis
  • Cash Flow Statement (12 Months)
  • Competitive Analysis
  • Financial History & Ratios
  • Loan Amortization Schedule
  • Nondisclosure Agreement
  • Opening Day Balance Sheet
  • Personal Financial Statement
  • Profit and Loss Projection (12 Months)
  • Profit and Loss Projection (3 Years)
  • Sales Forecast (12 Months)
  • Start-Up Expenses
The templates are available for free in a variety of formats. Go to the SCORE web site to download a template today!

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