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Hidalgo County Herald
Lordsburg, New Mexico
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January 8, 2010     Hidalgo County Herald
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January 8, 2010
 

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HIDALGO COUNTY HERALD FRIDAY, JANUARY 8, 2010 3 SBDC Report /00,000iding ne most common business-plan mistakes By BETSY GILLE'I-rE, directorof size on the total amount consum- lectual property with a patent, market research and planning for TeChnology Ventures Corporation Entrepreneurs looking for funding and those just getting started should pay special atten- tion to the marketing sections of the business plans they submit. This is where the most common mistakes -- and the most outra- geous assertions -- are made. Typical errors include flawed ap- praisals of market need, market sizing, customer identification and branding. Market need: This most ba- sic element of a business plan is often woefully undeveloped. Unless a product or service pro- vides tangible benefits to poten- tial customers -- at a cost that the customer considers a value -- an entrepreneur has little chance of success. Savvy business people check in with potential custom- ers in the early stages of a ven- ture and periodically thereafter to determine if the product idea is a good one and to incorporate cus- tomer needs and desires into the product. They also check with in- dustry groups that have problems their products can solve. Market sizing: The more re- alistic an entrepreneur is about - the size of her potential market, the better chance she has of be- ing taken seriously by potential funders, who want evidence that a product developer knows her potential market. For instance, someone manufacturing an appa- ratus for'dental surgery should not base his estimate of market ers spend on dental visits and toothpaste, when the market for his apparatus represents only a fraction of the dental equipment sales market. Market numbers have to be reasonable, but they don't have to be exact; venture capitalists and other funders con- duct their own due diligence when they are interested in a busi- ness plan. Customers: Many business plans do not correctly identify customers. Someone who devel- ops photovoltaic cells and mod- ules for a solar-power system,' for example, should realize that his customers are the companies that build the systems for consumers rather than the end users who buy the solar systems once they're built. If a business isn't sighted on the target customer, its market numbers will likely be wrong. Branding: Many entrepre- neurs obsess about branding and worry that they will fail in the marketplace without a recogniz- .able brand. An entrepreneur should instead create credibility around her company name rather than an individual product name. For example, with a company like Microsoft, the credibility of each new software product is rein- forced by combining the cred- ibility of the company's name with the product name. After re- searching possible names, an en- trepreneur should protect himself, his company and his product names by trademarking them just the way he would protect intel- UPCOMING EVENTS Continued from Page 1 Diabetic support group The LaVida Diabetic Sup- port Group will be. meeting on Wedqesday, January 27 'h from 10:00 am- 11:00 am. This month, Lori Rodriguez with the Coop- erative Extension Service, will be doing a presentation on "Nutri- tion Facts." Come join us and stay informed for either yourself, a loved one in your family, or a friend:-For those  not familiar with our:Diabetes Support Group, we meet every last Wednesday of the month, 10 am-I l am in the HMS Conference Room, 530 E. Demoss Street in here in Lordsburg. If you have any ques- tions, please don't hesitate to call Gloria Vargas @(575)542-3047. Team Kids Team Kids is held every Wednesday at the First Baptist Church of Lordsburg from 6:00- 6:45 p.m. Team Kids is open to students in grades 1-6. Marquez account An account has been opened at Westem Bank in Lordsburg to help benefit Joaquin Marquez, who is currently awaiting a kid- ney transplant. Ask any Western Bank teller for more information. Smoking cessation TUPAC Smoking Cessation Classes will begin on Monday, January 11, 2010, through March 1, 2010, .consisting. of..7..classes held on Mondays with the excep- tion of 1 class on Wednesday, February 3, 2010. Class time will be @5:30 p.m. to 7:00 p.m. & will be held @Hidalgo Medical Ser- vices Conference Room @530 E. DeMoss St., in Lordsburg. To enroll or for more information, please call Gloria Vargas or Danielle Gomez @the HMS Fam- ily Support Office @542-3046 or 542-3047. We will not be accept- ing new enrollees after the 3 ra. Class. If you're ready to commit to quit smoking, we're ready to commit to helping you quit! Hidalgo County fl00]EtEtL .[) New Mexico Press Association Member Hidalgo County Herald (USPS Illl 020697) is published weekly by Hidalgo County Herald in the City of Lordsburg, County of Hidalgo, 212 E. Motel Drive, Suite B, Lordsburg, New Mexico 88045-1948, 52 issues a year. Subscription rates vary. Subscription rate is $30 per year. Requests for corrections and complaints concerning news and editorial content of the Hidalgo County Herald should be di- rected to the editor. For further information on the Hidalgo County Herald's approved grievance policies, readers may contact the pub- lisher. Any unsolicited manuscripts become the property of the Hidalgo County Herald and will not be returned. All information con- tained herein is copyrighted 2009 by the Hidalgo County Herald, All photos/stories, unless stated, are written by our staff. POSTMAS- TER: Send address changes to Hidalgo County Herald, 212 E. Mo- tel Drive, Suite B, Lordsburg, NM 88045-1948. Periodicals Postage Paid at Lordsburg, New Mexico. PUBLIsHER/EDITOR: Brenda Hood ADVERTISING MANAGER: Glenda Greene PHONE: 575-542-8705 FAX: 575-542-8704 E-MAIL hcherald @aznex.net Company names are not pro- tected by registering the com- pany with the state. Neglecting to trademark a company name leaves a business person vulner- able to a cease and desist notice or a lawsuit, which means all the money spent advertising and pro- moting a company under a con- tested name is wasted. A trade- mark search at www.uspto.gov should precede naming a com- pany or product, and legal assis- tance should be engaged for trademarking. Outlandish statements: The only rule to follow when making assertions in a.business plan is to use some judgment. Just because a business has sold 25 un{ts in a 1 million-unit market, that's no guarantee it will be successful. Claiming that there's no compe- tition might be akin to saying there's no need for the product or service. A business plan writer should resist the urge to oversell her product. She should ask a trusted person who is not famil- iar with the industry to read the plan and pOint out where it fails to explain what need the product addresses, who its customers are and why this is the best of all pos- sible products. Technology Ventures Corpo- ration is holding a workshop in Albuquerque on Wednesday, No- vember 11 to help entrepreneurs assess the market for their prod- uct. This is one in a series of busi- ness planning workshops offered prior to the submission deadline for business plans to be consid- ered for the annual Equity Capi- tal Symposifim. For more infor- mation, visit www.techventures.org. This article is excerpted from the AugustSeptember 2007 issue of Innovation: America's Journal of Technology Commercializa- tion, and can be found at http:// www.inn.ovation-america.org/. Western New Mexico University's SBDC offers assis- tance to'entrepreneurs who are starting a business or wanting to expand an existing business. These services are available at no cost. Call 538:6320 for an ap- pointment with a business advi- sor, or email sbdc@wnmu.edu. The SBDC office is located on the second floor of the Besse-For- ward Global Resource Center on 12th Street. More information may be found at ww w. nmsbd . com/si lvercity/ index.html. The SBDC office, along with all other campus offices, will be closed for the holidays starting December 17 and continuing through January 6, 2010. ii Cowboys tour bus makes pit stop in Lordsburg A Dallas Cowboy tour bus owned by team owner Jerry Jones traveled through Lordsburg last week. The driver, Emory "Bullet"Tyler, Jones' personal driver, allowed several local citizens to board the bus while it was parked at the Comfort Inn. Pictured below with a 24-carat gold coated Super Bowl Championship Football is Clark Smith Jr. (left) and Ali Salinas Jr. and his nephew, Caleb Saenz (right). The bus was en route to California to make an appearance at the Alabama/Texas NCAA Champion- ship game.Tyler said he would be picking up Jerry Jones in California. Photos courtesy CLARK SMITH JRJLordsburg ",Design the Yea'" Workshop January 28 Submitted by TWClSilver City The Wellness Coalition's Wellspring Center is presenting a full day workshop entitled "De- sign the Year" by presenter, Sunny Yates, on Thursday, January 28th from 8:30 am to 4 pm at TWC's Wellspring Center located at 409 N Bullard in downtown Silver City. Join us for a 2010 Design the Year Workshop! Design extraor- dinary annual accomplishments and identify the tools you need to achieve them. Successful in- dividuals make successful orga- nizations. Participants will: Celebrate the accom- plishments of 2009 Focus newly on your vision for your life and your or- $ I O0 - $2000 We want to make you a loan! Build Your Credit. No Checking Account Needed. Apply in person or call ahead! 6ENTRY FINANCE 205 E. 2N9 STREET, LOROSDgR6, NM 575-542-8066 (tealt out our great listings/ w,qppraisals: ._7lome, anch & Commercial Hachita-2 BR, 2 Bath MH plus extras E. 'B' Street 609 , Pyramid Shadows 20+ acres  li/ 209 Pyramid-Fixer Upper! ' filial  ',59 Lee Trevino Corner Lot. P-" --- Commercial Buildings on.200, block of Shakespeare 32 Acres vacant land available in Cotton City %  505 East 'E' Street Paisan0 Real Estate Appraisals & Rentals 575-542-$$95 Property Management Don Kerr-Real E>lalc Broker & C'erlificd Apprai:fl ganization Design key areas of per sonal, community and proes- sional fulfillment for 2010 Invent new possibilities and strategies for achieving the results you want with more fun and less effort Identify, and be set up to take, immediate actions to launch an.extraordinary 2010 The presenter, Sunny Yates, is a management consultant and executive coach. She has coached managers, business own- ers and individuals committed to breakthroughs in productivity and effectiveness for than 25 years. This workshop is the first of many workshops being offered at no charge thanks to a generous Capacity-Building Grant from the Compassion Capital Fund. The cost of lunch will be $10. Pre- registration is required. Please .note: priority registration will be given to staff and volunteers of nonprofit and faith-based organi- zations. To register, call 575-534- 0665 or email well spring @ welinesscoalition.org. Largest In ent0ry of Quality I Used Vehicles in the Area! Check out these great on used lrucks! ill 1997 Ford F-250 2001 Ford F-250 2009 Ford Escape 2007 F0rd F-150 Gray 2004 Ford F-250 2002 Ford Ranger 2009 Ford Explorer 2007 Ford Ranger 2008 Ford F-150 Gray 2008 Ford F-150 Red 2003 Volkswagon Jetta 2002 Cadillac DeVille 2003 Mercury Sable 2006 PontiacG-6 2003 Crown Victoria 2008 Pontiac Grand Prix 2009 Ford Focus (Blue) 2004 Lincoln Towncar 9MITH F 0 R e IN C. 412 1:..41rlve3, lords2f,, NM T