What Makes A Good Entrepreneur? Entrepreneurs are all different.

No one gender, age, education level or ethnicity has a particular advantage. But UBC SEPTEMBER CALENDAR certain person-alities do make a difference. By looking at the profile of successful entrepreneurs, you can assess your strengths against theirs. Many entrepreneurs exhibit the

UPCOMING CLASSES AND

Excel 1: Basics for Business Tuesday October 8th, 12:00pm-2:00pm Excel 2: Charts & Graphs Tuesday October 15 , 12:00pm-2:00pm Excel 3: Formulas, Functions, Formatting Tues. Oct. 22nd, 12pm-2pm Excel 4: Simple Macros Tuesday October 29, 12:00pm2:00pm
th

The Monthly

The Official Newsletter of

September Issue (9-2013)
Inside this issue: How Well Trained Are You? - P.1 Fast Road to Entrepreneurial Success - P.2

9/2 9/3

UBC Closed (Labor Day) Open World Meeting

QuickBooks Basics INTENSIVE: Friday October 4th, 8:30am-5pm QuickBooks Basics RELAXED: Mon, Tues, Wed Oct. 2830, 3pm-5:30pm QuickBooks Payroll INTENSIVE: Friday November 8th, 9:00am-2:00pm Contractors Licenses Test Preparation: October 21-25 th,

BUILDING A STRONGER DOUGLAS COUNTY, ONE ENTREPRENEUR AT A TIME..

OF DIRECTORS

9/4 Umpqua Valley Winegrowers Assoc. 9/11 LEAN Partnership Meeting 9/12 Umpqua Basin Economic Alliance 9/16 The Partnership Board Meeting 9/17 ODOT Rail Planning Meeting

BOARD

HOW WELL TRAINED ARE YOU TO OPERATE YOUR SMALL By Bob Hillis
New business owners often begin their careers as employees working for someone else. This qualifies them for training their peers and gives them excellent insight into how to do it better, but this skill set isnt all that is needed to operate a successful small business. The successful small business owner has to be a generalist. In addition to technical skills, the small business owner needs to have skills in marketing, human resources, financial analysis, property management, time management, strategic planning and product pricing and costing to list just a few. These skills are required, to some degree, to operate in the highly competitive global market that all businesses are subject to. Day-to-day activities of a small business owner usually gravitate to their comfort zone, or what they know and like to do. They usually feel more comfortable working face-to-face and satisfying their customers most immediate needs than they do planning for the next season, or doing any kind of product or service cost analysis. The balance of providing that excellent local customer service has to be tempered with longer term overall business management disciplines. The most important of which is to ensure that the small business has the necessary cash flow and contribution margins to survive and be able to provide those exceptional, personal, local touch services long-term. Umpqua Community Colleges Small Business Development Center offers the Small Business Management Program to aid in continuous business owner training. This program is uniquely different from traditional educational curriculum in that the small business operators own business becomes his/her textbook and laboratory. The program offers a series of relative workshops with a variety of professional presenters in a classroom setting, one-to-one coaching is received from a professional business adviser and networking with other business owners with one goal: to make your business more successful. This very popular limited enrollment program begins in October with once monthly evening workshops. Conveniently scheduled monthly business advising appointments, either at your place of business or at the

Rick Coen, Chairman Pete Bober , Vice Chair Debbie Fromdahl, Treasurer Rene Toman, Exec. Director Ron Doan, Past Chair Alex Campbell Betty Tamm Dan Courtney Joe Olson Kelly Morgan Lance Colley Mark Bilton-Smith Mickey Beach Monte Mendenhall Penny Tannlund Perry Murray Rena Langston Scott The size ofHenry your Susan Buell success is measured by the Susan strength of Morgan your desire; the size Wayne Luzier of your dream; and how you handle disappointment along the way.

THE MONTHLY HATCHLING SEPTEMBER ISSUE 9-2013

The Perfect Pitch Training 9/18 Roseburg Angel Investment The following trainings will be provided to assist aspiring local entrepreneurs and companies prepare for and compete for funding in the 2013 Roseburg Angel Investment Network (RAIN) Business Plan Competition coming up in November. John Lee of Folium Partners will give "The Perfect Pitch" training. This is geared toward entrepreneurs and other business managers who need to sell their ideas to an audience and then to ask for funding. Saturday, October 26th 9:00AM Umpqua Business Center

Roseburg Angel Investment Network Upcoming Competitions Launch Stage: RAIN is calling for the best and brightest early stage companies to compete for an estimated $150,000 seed capital investment. Applicants should be companies with growth potential, evidence of a market, proof of concept/prototype, and be based in Oregon. Firms must be willing to give up a portion of equity for investment. The final deadline is September 9th. Wednesday, November 13th Danny Lang Center, UCC
Image: http://www.business-opportunities.biz/2012/02/22/infographic-building-thebetter-entrepreneur/

Concept Stage: Not ready for the launch stage competition, consider the

The Fast Road to

Entrepreneurshi p
3. Capitalized Earnings This method of valuation is suitable for service companies and other non-asset intensive businesses. This method places no value on fixed assets such as the equipment, and takes into account a greater number of intangibles. This valuation method is best used for nonasset intensive businesses like service companies. 4. Intangible Value Some businesses, particularly those that are not assetintensive, may be harder to quantify. Service companies and dotcoms are examples of certain small businesses where this kind of valuation may work. In many cases, this involves measuring the overall goodwill or psychological value of a business, rather than its financial value. For example, the valuation of Image Credit: Facebook/Founders an executive recruiting & Funders company may use the cost of recruiting executives and use that calculation to determine possible savings it will give to the buying company. The worth, there-fore, of the executive recruiting firm is not in its overhead systems (e.g. offices, phones, computers) but in its intrinsic value.

Four Roles to Improve Your Teams Collaboration

By Lee Colan, Inc.com LEAD the Team. This role is the person ultimately responsible for the completion of a project or task, and the one who delegates work. There must be only one lead specified per project or task, and s/he is the one who makes final decisions after considering input from others. DO the Work. People with this role directly perform the tasks assigned by the lead. Others can be delegated to assist in doing the work. Performers seek input from subject matter experts. SHARE Expertise. In a consulting role are those whose opinions are sought, typically subject matter experts. There must be two-way communication between the performers and experts about best practices and alternative approaches. Get INFORMED. The final role belongs to anyone who is kept up-todate on progress, often only on completion of milestones. Here, communication is just one way. Clearly communicate and agree to these roles before you begin any project or initiative. Keep it simple and your effective collaboration will generate fast results!

Purchasing a business is the A seller who wants to sell the business as fast as he possibly quickest and fastest road to can is more likely to accept a entrepreneurship. Instead of spending time pre-planning and discounted price. A word of starting a business, you will have warning however, its not wise to in your hands a business that may show how badly you want to buy the business as the seller can have already proven viable. An existing business may come with leverage this significant information against you during a solid customer base, supplier the subsequent negotiations. relationships, and even a welldeveloped brand. This is the best Determining the value of a option for you if you are looking business is more of an art than a for fewer hassles and fewer science: it is not precise. Several mistakes compared to starting a methods commonly used in business from the ground up. calculating the value of a small As you begin your hunt for the business are the following: perfect company, consider Becoming a starting close to home. For new if you're currently 1. Multiplier or Market instance, employed by a small business you Valuation IT find manager like, out if the present owner This method calculates the value would consider selling. Or, ask means of a small business by using an business associates and friends industry average or rule-offor leads on similar businesses thumb sales figure as a that may be on the market. Many multiplier. You can use average of the best business opportunities monthly gross sales, monthly surface by word of mouth -- and gross sales plus inventory or after are snapped up before their tax profits of comparable owners ever list them for sale. businesses in the industry. To The most challenging aspect of determine the multiplier of the industry of the business youre buying a business is often the process of setting the price. This buying, contact your trade association or consult the practice is often fraught with services of a commercial emotions and conflicts, as both the seller and buyer have different business appraiser. ideas of what the business is worth. The party most prepared 2. Asset Valuation with an assessment of the business value will have the Some businesses are worth no upper hand during the negotiation more than the value of their process. tangible assets. If a company is

A BUSINESS PLAN: YOUR MAP TO

From The Desk of the Director

Only 19% of small business owners are reported to use business planning. In addition, interestingly enough, 20% of new start-up small businesses survive at the end of each year. Coincidence? Business planning doesn't guarantee success. However, most people wouldn't think of building a house without a set of building plans. Without a building plan, it is doubtful your foundation would be adequate, you might forget key parts of the plumbing, and your kitchen might end up where your bathroom should be.

The same situation will most likely happen if you don't create a business plan. While you might think that you can keep everything in your head, your results are likely to be disappointing and lacking. The business plan process helps you think through all parts of your business, aids you in establishing a solid found -ation, and puts you in a good position for business growth. The parts of the business plan that you can't do or are difficult for you, are the areas where you need professional help.

A plumber building his own house hires experts in roofing and other unknown areas. You likewise, need to approach your business in the same manner. The UCC Small Business Development Center housed at the Umpqua Business Center offers workshops, on-line courses, expert advising and professional resources to help entrepreneurs and small business owners thrive. A smart first step is a no-cost confidential meeting with one of their knowledgeable business advisors.

Two Out of Five U.S. Workers will be Entrepreneurs Today there are 120million workers in the workforce and 28-million small businesses. In excess of 22-million of those are small companies of one. Nonemployer businesses are the fastest-growing category. Increasingly

BUSINESS PREDICTIONS

Individuals who can iteratively build software will increasingly become the model for entrepreneurs. The Office Will Be the New Class room Completing University at 22 years old with $100K+ in debt and few job prospects is a broken model. Apprenticeships will replace the

experience. The Most Critical Aspects of Business Will Always Get Done Face to Face Many things will change, but what wont change is our deepest need to connect with each other. Both technology and market conditions will continue to