The ProjectionSmart Workshop on Starting Your Own Business

Jun 01, 2020 by Roger Scherping

On May 27 Bob and I hosted our first virtual workshop for SCORE Minneapolis. For those of you who don’t know, SCORE is the best free resource for entrepreneurs and small business owners. SCORE will assign you an experienced executive to serve as your business mentor – for free!

This is from their website: For over 50 years, SCORE has served as America’s premier source of free business mentoring and education. As a resource partner of the Small Business Administration (SBA), SCORE has helped more than 11 million entrepreneurs through mentoring, workshops and educational resources since 1964. 

In these troubled times, a lot of people are finding themselves unemployed, and many of them are considering starting their own business. Because of that demand, SCORE asked ProjectionSmart to do a workshop telling people how to get started on the road to becoming an entrepreneur.

Well, it didn’t take Bob a second to say “yes.” The guy loves to teach entrepreneurship. He currently teaches entrepreneurship at not one but two colleges.

So in our workshop we spent 90 minutes explaining to the participants why they need to plan if they want to be successful and then showing them the easiest way to plan.

We covered many of our favorite topics:

  • Finances FirstTM! Why your first step in planning your startup must be your finances.
  • Why having proof of your business concept is everything today.
  • How you can understand the numbers of your business by using our Startup tool – and why you must understand your numbers if you intend to talk to a banker.
  • The only 3 areas about your business that bankers and investors care about.
  • The meanings of CAP, RAP, and the 3 R’s.
  • And Bob’s favorite saying, “Business planning isn’t something you do once. It’s something you do once a month!”

If you want to see the workshop, here’s the link:

Just email me and I’ll send you the password.

In the meantime, if you’re considering starting your own business, plan! Your chances of success will increase by 50% if you do. And the easiest way to plan is to use the ProjectionSmart Proof PlanTM and Startup financial model.