 WELCOME
Keep a Check on What Your Employees Want
As a business owner, how do you think your employees would respond if they were asked if benefits matter to them. If you say not so much, a recent survey by insurance provider Aflac would say you were wrong. The surveyed workers say that they were more likely to take a job with better benefits even if it meant a lower salary.
Money talks, but apparantly not louder than employee benefits. By offering a good package of benefits, employers can improve productivity, attract and retain the best talent, drive greater employee satisfaction and control costs.
That sounds pretty great, right? Small businesses, according to the survey, are more likely than midsize or large firms to say taking care of employees is their number one objective.
So, be sure to communicate with your employees about the details of their benefits and how best to utilize them. Your efforts will not go un-noticed.
Libby Beatty, Chair
MBA Board of Directors
NEWSWORTHY
Beware of e-mails claiming to be from IRS
Bogus e-mail scams are resurfacing, including one involving payments  allegedly rejected by the Electronic Federal Tax Payment System. The e-mail has a link that may download malicious software.
Information on what to do if you receive a suspicious IRS-related communication is available on IRS.gov.
INSURANCE
MBA’s endorsed health care administrator, The Administrators, Inc., has supplied the following Independence Blue Cross article:
IBC Supports the Fight Against Diabetes
IBC is proud to serve as the presenting sponsor of Step Out: Walk to Stop  Diabetes on Saturday, October 1, for the fourth consecutive year.
Together with the American Diabetes Association, IBC remains committed to creating awareness aboout the potential risks for diabetes, how to prevent the disease and for those who have been diagnosed, how to better manage their condition and take steps to improve their health.
Step Out with IBC
Please join IBC on October 1 for Step Out, and know that with each step you take and each dollar you raise, you’ll be making strides toward a healthier future for yourself and our community. Join IBC in the fight against diabetes by forming a team or donating today!  BACK TO TOP
MARKETING
Sizing Up Your Target
Having limited resources in a growing business makes deciding which jobs to take a challenge. Some believe that with effective scheduling you can accommodate any orders, but in reality each business has different resources and goals. Here are some approaches to help you decide what  works best for you:
Aim for Exposure: This approach means doing your best to handle jobs both big and small in order to maximize your market exposure. Practically speaking, if you only focus on large accounts and you lose one, the damages may be irreparable.
The Mean: Like the Buddha counseled – avoid the extremes and aim for the middle. This means targeting mid-sized accounts, accommodating larger ones when they arise and filling the gaps with smaller accounts in between.
Small to Large: Focusing on small accounts and employing transparent pricing allows you to offer customers more customization. This helps to pay the operational expenses of your business while large orders help you bolster growth overtime.
Note from the editor: These tips assume that your business has the choice of many options – perhaps a bit short-sighted considering our economy. But take what applies to your business, and discard the rest. That’s what these articles are all about. - Libby
Dealing with Rising Costs
The rising cost of your products and services has likely seen an increase in the past few years causing you to change production and pricing strategies. Here are some suggestions for how to implement these changes without turning away customers:
Entry Prices: If raising your prices is the only option, try introducing lower-priced items. Aside from diverting attention from price increases, it gives existing customers options other than taking their money and needs elsewhere.
Production Location: Rising fuel prices has probably has increased the cost of shipping, materials and production across the board. To offset these costs try looking for manufacturers or suppliers that are geographically closer than your present ones.
Varied Offerings: Seasons, trends and holidays are good reasons to alter products without losing your following. More than anything customers appreciate honesty, so marketing changes around availability and demand help to cushion the blow.
Marketing to the Masses
Marketing has more to do with grabbing attention than simply selling products. Try shifting from selling to telling people about your business with a more creative approach. Here are some ideas to get started:
Increase Entertainment Value: Clever, irreverent and funny commercials help to get  your message across. Try creating a video short that you can post on YouTube or on your website - both cost you nothing, except the time spent making the short.
Customer Tastes: Your customer base is partly defined by their tastes. Your customers’ tastes can help you create contests and events that will speak directly to your audience and those around them with similar interests. For example, a travel agency could hold a contest for the silliest family vacation portrait. Get the picture?
Celebritize: Give your customers the chance to be a celebrity by asking them to create an ad for your product or just simply talk about what your business has done for them. You can use free offers to sweeten the deal.
BACK TO TOP
YOUR FINANCES
Apps to Smooth out Business on the Go
The following free and inexpensive Smartphone apps can help you collect business contacts, bill clients and track your expenses – check them out:
Hours Tracker: This is a great app for service providers who bill clients and projects at different hourly rates. You can clock in and out, see how much you’ve earned and add notes to track the work you did that day. Cost: $2.99
Pay Anywhere: Now you can get paid on the spot by swiping your client’s card right on your phone. The service is free so there is no processing charge, so you keep all the profits. You can also track invoice numbers and keep an inventory of items and services offered. Cost: Free
Expensify: This expense report-generating app can sync with your credit cards and bank accounts to log your expenses. It also scans paper receipts with your phone’s camera and can even record your travel mileage combining all your expense data into one easy-to-view report. Cost: Free
Tax Breaks on the Table for Small Biz, but not for Long
The Small Business Jobs Act of 2010 gave self-employed workers a tax break on health insurance, and small business advocates are trying to get that break extended. The bill would amend the Internal Revenue Code of  1986 to make permanent the deduction for health insurance costs in computing self-employment taxes.
Another bill being pushed by small business advocates would simplify home office deductions. This bill would give home-based business owners the option of a standard $1,500 write-off instead of the complicated calculations required to claim the deduction now. Both bills are currently receiving bipartisan support, but Todd McCracken, president of the NSBA, sees little chance of bills being passed unless they are part of a larger tax reform.
BACK TO TOP
FOR THE HOME-BASED BIZ
Making the Most of your Home Office
Many entrepreneurs dream of the freedom of working from home, but just haven’t found their groove. Whether it’s lack of organization or a need to reevaluate an approach, the following tips will help you pull your new home office together:
Office Space: Commit to setting up a home space where you are comfortable and focused. Then create a schedule that works for you and really stick to it.
Organization & Priorities: The freedom of working from home can be overwhelming unless you have an organized system. A planner, whether  electronic or a notebook, is a powerful ally. Also, there are e-mail tools that can help prioritize correspondences, as sorting and responding to e-mails can be one of the most time-draining activities in your day. Try Teambox if e-mail is challenging you.
Outsource: Whether you need a bookkeeper, an accountant or both, outsourcing can free up some of your time to pursue new clients and develop your business. Another great way to get inexpensive or even free help is to hire a high school or college student as an intern.
BACK TO TOP
HUMAN RESOURCES
Keeping Employees Happy & Healthy
Happy and healthy employees keep productivity high and health care costs low, but the sedentary conditions of many jobs create a real challenge. Studies continue to reveal that sitting for extended periods is hazardous for your health, increasing risk factors for serious disorders like heart disease. Other findings suggest that healthy employees are three times more productive than unhealthy ones. Here are some suggestions to keep your staff active:
Micro-Breaks: By encouraging employees to stand up every 15 minutes and move around, their metabolic activity becomes more constant, helping to decrease the adverse effects of sitting still.
Mobile Meetings: Before your next meeting, take your staff for a walk. The exercise is beneficial for everyone, and it helps to get the creative juices flowing.
Desk as a Gym: Encourage the use of the work station as gym equipment. Simple exercises like squats with your hands on your desk and the use of most any object at arms length can be used as a free weight. Look online for more ideas and send the links to your employees.
Keeping Cool with Challenging Employees
As the owner of a small business, you will probably have to deal directly with employees that test your patience. Before  you lose your cool, take the following tips to heart before approaching a challenging employee:
Spot the Problem: The employee may be a loud-mouth or a complete chatterbox. Both types may never complete their work on time or disrupt the workplace with rumors and drama. If these or similar signs are catching your attention, you have a potential challenging employee.
Time to Act: Don’t react in the moment unless it is absolutely necessary. Instead, cool down and evaluate the situation when your head is clear.
The Setting: Be sure to approach your employee in privacy. Create a neutral setting where you are both relaxed. For example, instead of raising your voice, go out for coffee or a short walk.
BACK TO TOP
IT
Your Business App for Free
In the spirit of keeping your business in step with the times, it may be time to consider creating a Smartphone app for your business. An app can be a great addition to your marketing platform when it serves a specific need,  like benefiting your customers.
For example, maybe you are looking for a way to stay connected with customers/clients to offer them something like news, tips or ongoing sales. You can build a custom app online for free with applications like Appsbar.
Appsbar is an easy-to-use app builder that utilizes a tutorial interface that helps create a customized app with tons of editing options. Appsbar also helps you publish your app so that it can be offered through any popular app store. The apps work across Smartphone platforms and are free from advertisements.
BACK TO TOP
NEW MEMBERS
When our member base increases there is more of everything: more creative networking, more benefits and more experienced, enthusiastic business owners. All move our members toward growth, success and the entrepreneurial spirit.
Click here to meet our newest small business partners.
BACK TO TOP
Unless specifically indicated, MBA does not intend mention of companies, products or services discussed in this publication to be construed to be endorsements. The information in this publication is offered as examples that may be useful to our small business readers. Please consult with an industry professional before implementing any of the tips or subscribing to any of the services described above.
|
