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Pitch your business

Business pitch

It started with passion. Then the idea. Now you even have the whole business plan with all the details addressed. What you likely do not have is the money. A business pitch competition could possibly be just the thing to get your startup truly started.

Made popular by the television program “Shark Tank,” business pitching for funds has taken off. There are a surprising number of pitch competitions with funding and exposure opportunities.

Maybe one of these is right for you:

• Huggies MomInspired Grant Program

• MIT $100,000 Entrepreneurial Challenge

• HATCH Pitch

Check out for more information.

Deneen Bloom, The North Carolina 100

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Be a better co-worker

Better coworkers

Most of us spend lots of time with our co-workers. What could you do differently to be a better one? Sources from human resource blogs to Reader’s Digest offer tips on how to be a better co-worker.

A few favorites:

– Recognize people’s contributions. Everyone likes compliments.

– Get to know each other.

– Be on time for meetings; it shows respect for other people’s time.

– Don’t jump to conclusions. When an issue arises, take the time to gather all of the information and avoid jumping to a negative, blaming conclusion.

– Pitch in. A great co-worker is a team player.

Deneen Bloom, The North Carolina 100

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Why CEOs hire from the service industry

Service industry hires

According to RevGen CEO John Rosar, hiring service industry alums can be great for business. Rosar’s top reasons include:

• Waiting tables is difficult. Enduring long hours on your feet is the mark of a hard worker.

• A server’s ability to read many different types of people and communicate with them effectively is beneficial in nearly every field of work.

• Service industry workers must manage many different tasks at once, and ensure quality service for each guest by staying organized.

• Servers hustle. They’re required to keep up in a fast-paced environment and connect with customers in the midst of chaos.

Katelin W. Davis, The North Carolina 100

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HR tips for small businesses

HR Management is essential for running a successful business, but it is often overlooked by small-business owners. No matter the size of your business, proper HR strategies are a must. Here are some tips for small-business managers to help optimize employees’ performance and create a safe and professional work environment:

• Always praise employees in public, but scold in private.

• Document everything, even if it does not seem important.

• Provide and maintain written job descriptions, an employee handbook, workplace rules and regulations, etc.

• Consider using personality tests as part of the hiring process.

• Continuously encourage honest feedback from employees.

– Haley Pegg, New Orleans Chamber

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How to value a small business

How much does a seller want? How much has a seller invested in their business? How much does a seller need to put their daughter through college? These are all incorrect ways to value a business that sellers often use to calculate price.

The best way to value a business is to determine how much it will make for a future owner, then multiply that by a “multiple” of what similar businesses have sold for.

The good news is that the True Owner’s Benefit is more than what’s on the tax return, and comparables for similar businesses are readily available.

Neal Isaac, VR Business Brokers