SCORE turnaround team helps businesses needing counseling

Turnaround team helps businesses needing aid Q:My upholstery business is suffering in this economy. Is SCORE counseling just for startup businesses or is help also available to me? -- James G., Richmond

A: There is a misconception that SCORE's volunteer time and monthly workshop content are devoted to clients who are thinking about starting a new business.

SCORE counseling is available to anyone who feels the need for unbiased, professional assistance.

In fact, in response to the current recessionary economy, the Richmond Chapter of SCORE, Counselors to America's Small Business, has resurrected the "SCORE Small Business Turnaround Team" to help existing businesses improve their performance and profitability.

Originally formed in the 1990's to respond to a previous recession, its purpose was to gather SCORE counselors with specialized skills to quickly intervene with troubled existing businesses.

In the 2009 version, its mission has not changed and, to date, has helped small and medium-size businesses in retail, restaurant, automotive, business-to-business and even nonprofit organizations. Each of these existing businesses has somewhat different problems and needs.

The turnaround team calls upon the skills of the many local Richmond SCORE counselors.

Their expertise includes accounting and finance, marketing, banking, insurance, retail, IT, human resources, manufacturing, advertising, and many more.

The process is straightforward -- the team will review the client's financials, operations, marketing plan, personnel, products or services, strategy, customer focus and the competition.

Following the review, they will prepare, in conjunction with the client, a customized turnaround plan based upon the needs of the organization, with a task-oriented calendar for improvements.

The SCORE specialists may contribute advice, plans and even complete programs.

In the end, though, the client is responsible for fully engaging in their own business turnaround, including participating in weekly progress meetings with the primary SCORE counselor.

The team's chairman is Michael McDermott, a SCORE volunteer, a small business profit improvement coach and author of the "2009-2011 Recession Survival Guide."

A typical client for the SCORE Small Business Turnaround Team would be a company that is not currently under bankruptcy protection, has some working capital and the desire to recover and grow the business.

Also needed is an owner's willingness to commit to weekly, oneto two-hour private counseling sessions and share business information.

SCORE business turnaround counseling services are confidential and offered free of charge to existing business owners and managers.

All of the SCORE counselors are experienced business professionals, typically from the general management ranks or successful small business owners.

Volunteers with the Richmond Chapter of SCORE, Counselors to America's Small Business, will answer questions from small-business owners and managers. Go to http://www.richmondscore.org and click on the link to "Ask SCORE." A counselor will respond within 48 hours. Select questions and answers will be featured in Metro Business on the second and fourth Mondays. To learn more about management issues facing small businesses and SCORE's workshops, go to http://www.richmondscore.org or call (804) 771-2400, ext. 131.