Business Counseling Frequently Asked Questions (FAQ)
- What should I bring to my business counseling appointment?
- What should I expect to come away with at the end of each session?
This will depend on what you need to discuss during the visit.
Initial appointment
- Your notes, paper, pencil, description of your business, tentative schedule, partners, supporting documents and/or research, rough business plan, range for funding, etc.
- Review How to Start a Business in North Carolina *Booklet* (.pdf) and "Process to Start a Business" prior to your appointment date.
- Please remember we are guests in the offices we occupy
and there are businesses, so refrain from bring another
individual that is NOT part of the business venture.
Business plan and funding
- Draft business plan, funding sources considered, customer demographics, location, etc.
Marketing and/or Expanding your business
- Customer demographics, pricing, performance, position, and promotion, for your business, enhanced product and/or service offerings, advertising [media, internet, print], etc.
Insurance and Operations
- Business liabilities, insurers considered, staffing, benefits, bookkeeping, payroll, computers and technology, data-bases, etc.
Inventory and Supplier management
- Vendors and/or alternate sources, mix of products and/or services, computers and technology, data-bases, customer files, trend analysis, flexibility, etc.
Buying or selling your business
- Pricing, residuals, consulting, partnerships, franchising, insurance, staff, capital equipment, customer files, etc.
Initial:
- Basic milestones in the process of starting a business
- Criteria for Business plan development
- Criteria for Business licensing
- Criteria for Financing
- Criteria for Marketing plan
- Criteria for Legal
- Criteria for Insurance
- Be prepared to depart with an action list and set additional appointments
Business Plan:
- Specific elements for Business plan
- Writing process
- Self help references
- Critique of existing Business plan
- Be prepared to depart with an action list and set additional appointments
Finance:
- Specific elements of a loan application
- Specific elements a lender looks for
- Institutions suited to small businesses
- Understanding of SBA and its programs
- Be prepared to depart with an action list and set additional appointments
Insurance:
- Specific elements in policy
- Institutions suited to small businesses
- When needed
- Liability, Health, Injury
- Federal and State requirements
- Be prepared to depart with an action list and set additional appointments
Cash Flow:
- Specific elements in a balance sheet
- Paper and Electronic tool to help
- Understanding ROI, EBITA and Profitability
- Earnings before interest, taxes, and amortization expense, [Brake even]
- Be prepared to depart with an action list and set additional appointments
Staffing:
- Criteria for staff W2 vs. 1099
- Taxes and Insurance burden
- When needed
- Be prepared to depart with an action list and set additional appointments
Real estate:
- Specific elements in a lease
- Terms and Conditions [Ts & Cs]
- Location - Location
- Demographics
- Be prepared to depart with an action list and set additional appointments
