In this episode, Melinda Emerson chats with Dr. Lorneth Peters about her entrepreneurial journey and role at the Small Business Development Center. They discuss the importance of mindset, understanding business terminology, and the benefits of mentorship for small business owners. The episode also covers misconceptions about the SBA, steps to start a business, and the necessity of home-based business insurance.

(0:00) Introduction of Dr. Lorneth Peters and episode overview

(4:31) Dr. Lorneth Peters' entrepreneurial journey and role in the Small Business Development Center

(8:22) Importance of mindset and reinvention in running a business

(13:09) Services and benefits of Small Business Development Centers

(16:03) Necessity of mentorship, understanding business terminology, and having a team for small business owners

(21:35) Misconceptions about the SBA and the difference between SBA, Small Business Development Centers, and SCORE

(23:00) Steps to start a business and the concept of the 'BAILS' team

(26:49) Importance of home-based business insurance and having a dedicated lawyer

(28:19) Client success story and issue with credit scoring in America

(33:09) Dr. Lorneth Peters' favorite podcast, marketing tips, and recommended business book

(35:12) Conclusion and outro by Melinda Emerson