Morehouse College Entrepreneurship Center Best Practices: Invoicing/Subcontr acting Presented By: Bonita S. Moore HBCUs/MIs Partnerships Meeting September.

Morehouse College Entrepreneurship CenterBest Practices: Invoicing/Subcontracting

Presented By: Bonita S. MooreHBCUs/MIs Partnerships MeetingSeptember 16, 2015

College at a Glance

Nation’s largest private, independent, liberal arts college for men

Our mission is to develop men with disciplined minds who will lead lives of leadership and service

Enrolls approximately 2400 students from all over the US & over 30 countries

Employs 176 full time faculty, with 100% of tenure faculty holding doctorial degrees

Graduates approximately 500 men annually

The Morehouse College Entrepreneurship Center (MCEC) is a global model for higher education and industry collaborations, programs that connect education with student leadership development, and community-focused resources and support.

Our programs and services have one goal – to increase small business development. We accomplish this through: Links to prime contractors for bid development and mentoring support; Community resources to access information, services, and options for

business start-up support; Research, consultative and program services to government agencies,

corporations and universities seeking to expand their small business supplier pool; and

Education and outreach to encourage college students and youth to consider entrepreneurship as a career choice.

Understanding the business of doing business… Invoicing

Reporting

Customer/Client Relations

Publicity

InvoicingDetermine when the mentor needs your

invoice each month.

Work backwards to determine milestone dates for the vendors/consultants & yourself.

Determine mentor invoice requirements to avoid rejections

Communicate invoice requirements & terms clearly to vendors/consultants to avoid delays.

Keep records based on overall as well as client invoicing

Reporting Invoices and reports are conjoined twins

Determine what the mentor needs in the report Period of performance What happened Any problems What is the plan or how did you address problems Denote planned activities for next reporting period Show cumulative invoicing Show project percentage completion.

Communicate mentor needs to all vendors

Quality Customer/Client RelationsOpen and constant communication regarding

all aspects of project

Keep mentor and protégé engaged in progress of project

Be involved on conference calls

Be present at meetings (virtual or actual)

Be the glue that holds the contract together

Roles and Responsibilities

Identify

Director - MCEC

Proposal Manager Business Manager Project Manager

Pre-AwardBusiness DevelopmentProposal DevelopmentSupplier Selection

AdministrationAccountingPurchasingContractInvoicing

Project ManagementSubject Matter ExpertsProject Execution Project MonitoringProject Closure

Provost

THE DOMINO EFFECTLate invoices

Late mentor payments

Late vendor payments

Unhappy vendors

Unhappy mentors

Unhappy proteges

Strained Cash Flow

Partial List of Satisfied VendorsHewlett Packard Enterprise Services

Thomas & Herbert Consulting

Lockheed Martin

ASM Research

PUBLICIZE YOUR SUCCESSPress releases for awards and project

completions Past performance noted in proposals Nunn-Perry Partnerships

Visibility

Impact reports

Customer testimonies

Dr. Tiffany Bussey: (404) 653-7898e-mail: [email protected] P

rop

osit

ionMorehouse College

830 Westview Drive, SW

Atlanta, Georgia 30314

Doing Business with

Bonita Moore: (404) 653-7899E-mail: [email protected]

www.morehouse.edu/centers/enterpreneurshipwww.mcecenter.com

Facebook: Morehouse College Entrepreneurship Center