Small businesses find plenty of help in hard times

NEW YORK — Many small business owners believe you should never go it alone — you should always have a support system, whether it consists of financial advisers, mentors, fellow entrepreneurs or consultants, to guide you. It’s true in the best of economic times, and it’s certainly the case in the current climate.

This is an extremely difficult economy, and even veteran business owners need a sounding board. They find it from a growing number of resources, among them peer or networking groups, mentors, professional and trade groups and government-sponsored organizations like SCORE, an association of executives that counsels small business owners. Very often, this help comes at no cost.

“I’ve been seeking a lot of help and advice recently,” said Jeremy Brandt, founder and chief executive of 1-800-CashOffer, a network of professional homebuyers based in Dallas. “A lot of it is about analyzing opportunities, when to get out of certain lines of business ... figuring out what I should cut back on, what should I increase spending on.”

Brandt, who’s been in business for five years, has two main avenues for advice. He belongs to the Entrepreneurs’ Organization, which among other things helps the business owners that are its members form peer groups to discuss the issues they’re dealing with. He also has a mentor through the World Presidents Organization, an association of current and former CEOs of major businesses.

Brandt says one of the biggest problems he sees among fellow business owners is “they’re making the same mistakes made 100 times over by other people who have been in the same position.” By regularly meeting with peers and mentors, Brandt said owners can avoid some of the pitfalls.

Megy Karydes also uses a mentor, from a Chicago-area organization, Chicago Community Ventures, whose services include consulting for business owners. Last year, the first year in business for her public relations firm, Karydes Consulting, she met with her mentor a few times; this year, it’s been more frequent. And her mentor doesn’t just soothe her or hold her hand — he challenges her.

“He almost holds me accountable — ‘Did you do any of this? Why didn’t you do that?’ ” Karydes said. “It forces me to be more thoughtful about the actions I take.”

She finds her mentor also can be a good source for new business. “I want to make sure I’m on his radar. If something comes up, he’ll remember me.”

Business owners can find mentoring or advice in many places — starting with trusted advisers like accountants and lawyers. Many owners swear by their networking groups, formed either ad hoc, or through organizations like the ones Brandt and Karydes have used.

Professional organizations such as associations of women or minority business owners also can be resources. So can industry groups, chambers of commerce and houses of worship.

Federal, state and local government agencies may also sponsor counseling or mentoring. The federal government’s best known resources are the Small Business Administration’s Small Business Development Centers, also known as SBDCs, and SCORE. Both are available locally and hold regular workshops as well as offering individual counseling.

SBDCs are often located at colleges and universities, and there are more than 1,000 across the country. They can be located through the SBA Web site: www.sba.gov/aboutsba/sbaprograms/sbdc/index.html.

FIND NEARBY HELP

• A SCORE office is located in the Stegmaier Building, 7 Wilkes-Barre Blvd., Suite 362, Wilkes-Barre. Call 826-6502 or e-mail wbscore@epix.net

• The Wilkes University SBDC is in the Innovation Center @ Wilkes-Barre, 7 South Main St. Call 408-4340 or e-mail sbdc@wilkes.edu