WELCOME

Welcome to MBA's third AR Online newsletter. So far, we've had comments, both positive and negative, and hope to implement suggestions as we go. Please continue sending your e-mails.

From My Experience…
When my daughter graduated from college, she received a gift certificate for $50 to a local sports store. It got lost. For four years. When we discovered it, we took it to the store and were told that it was too old, that their books had been "put away" and they would not honor it. I talked to a lawyer friend about this who said, in his opinion, unless the certificate had an expiration date, it was valid. This information didn't wash at the sports store, and they still refused to honor her certificate (with no expiration date).

Short of making a scene at the store as some self-help magazine articles might suggest, we let it die. The moral: If your store or business offers gift certificates, be sure there's an expiration date. Otherwise, years later, you just may have some woman making a scene at your place of business.

Libby Beatty, Chair
MBA Board of Directors

NEWSWORTHY

Philadelphia Entrepreneurship Week

From April 23 to 28, 2007 Philadelphia will play host to area entrepreneurs in an effort to encourage and celebrate local businesses. Small businesses and entrepreneurs will have the opportunity to participate in Philadelphia Entrepreneurship Week events ranging from workshops to a party at World Cafe Live and a Spring Market.

The workshops and networking events are about entrepreneurs and their needs. The week will be filled with resource sessions aimed at promoting and informing entrepreneurs about the services that are available to them.

Philadelphia Entrepreneurship Week is free and will be held at various locations throughout the city.

Office Depot Event for Women in Business

On April 25, 2007 Office Depot and Success Strategies for Business Women are sponsoring a conference to be held at the Union League of Philadelphia.

Branding Yourself for Unstoppable Success is geared towards businesswomen who want to network with "success-minded women" in order to expand their resources and attract more business. The conference aims to provide businesswomen with tools to help brand their businesses by sharing step-by-step instructions for maximizing skills and building successful strategies.

Informative sessions will be held including topics like: Seven Keys to Success, Statistics and Stories of Women Entrepreneurs, Enhancing Productivity Using Current Technologies. Attendees will also have the opportunity to meet with corporate representatives in one-on-one "Matchmaker Sessions."

To register or learn more click here.

Your Benefits Should Be a Sign of the Times

Many employers are using benefits like gas gift certificates to help their employees in the face of ever-increasing transportation costs. Other benefits that can help employees deal with rising costs include increasing your mileage reimbursements. On January 1, 2007, the IRS increased the standard mileage rates for the use of a car to 48.5 cents for each business mile driven.

If your business can't afford "standard" employee perk programs such as cash bonuses, transportation-based benefits are a viable and useful offering to any employee that doesn't live at the office…

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MARKETING

Notice Overdue: Business Is Back in the Library

Many entrepreneurs are getting hip to an old fad: the library. And libraries are coming to understand that entrepreneurs are a bigger part of their business these days. The American Library Association has taken special notice of the business community because of the number of small business owners requesting help from the library services.

Go to just about any public library's web page and find a mass of business references including links to government offices, business publications, sources for business advice and sales lead companies.

Plus, here's an interesting service. It's called Ask Here PA which allows you to "chat" online with a librarian and get live answers to your questions 24 hours a day, seven days a week.

Of course, by visiting your local public library you can also get free Internet access or check out a best-seller.

Big Companies Can Make Big Mistakes:
Take Small Steps to Protect Your Investment

Once upon a time, a notable coffee-serving giant made a free offer that it seemed no one could refuse. But after a week of pouring out the java, the giant found it had to discontinue the offer. It seems the original offer was made through e-mail and was tampered with and redistributed beyond its original intent.

The moral of the story: Next time you're offering a special promotion such as a free service or frequent shopper card, consider how it can be exploited and then create clear and specific terms to make sure your promotion leaves you with more than regret.

Is Your Business Bi-Continental?

The U.S. Department of Commerce is sending small businesses overseas. The department's Export Assistance Center helps small and mid-sized companies sell their products to foreign markets. You can also learn how to export or register to access market research and trade leads.

Trade specialists are available to help plan your international business. Call 1-800- USA-TRAD(E) to find a trade specialist and get answers to your export questions. And to see if the government is looking for companies in your industry to do business overseas, visit www.export.gov.

YOUR FINANCES

Deadbeats Got You Frazzled?
Asking the Right Questions to Get What's Yours

Collecting late payments can be a delicate matter, but if you know what questions to ask you can get the answers (and the payments) you need. Here are some suggestions:

To whom should I speak regarding this invoice? Make sure you are talking to the person in charge of taking financial action whether it's the chief financial officer or the owner of the business.

Did you receive the invoice? Don't assume that your customer is just putting you off. Sometimes mail really gets lost or invoices are incomplete or incorrect.

Was there a problem with our service/product? Be sure to have a clear contract of business terms, so that you can deal with discrepancies according to your company's protocols and policies.

These questions show the customer that you are aware of overdue payments and that you are ready to help them deal with the problem before the term "collection agency" needs to be mentioned.

Sticky Fingered Staff?
Something to Think About…

According to the Association of Certified Fraud Examination's Report to the Nation on Occupational Fraud & Abuse, U.S. organizations lose five percent of revenue to fraud every year.

The study upheld previous studies that indicated that the level of authority a person holds within an organization will tend to have the most impact on the size of the loss in a fraud scheme. The more authority an individual has, the greater the individual's access to organizational resources and the more ability that person has to override controls in order to conceal the fraud.

Focusing on prevention is the best way to avoid fraud. The study reviews common methods for detecting fraud including holding surprise, internal or external audits and offering a fraud hotline to gather tips.

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HUMAN RESOURCES

Team on Three

Here are a few suggestions for keeping communication and employee empowerment flowing throughout your organization:

Hold mini-training sessions. Training doesn't have to last hours to be effective. Try holding 10 to 20-minute sessions every few weeks to update employees on software, customer service techniques, etc.

Use quarterly, semi-annual or annual company-wide meetings to bring management and employees together to discuss company policies, business issues, company goals and to solicit suggestions. Use part of the meeting as a brainstorming session with your entire staff to collect fresh ideas for running and promoting your business.

Involving employees on committees can offer management a new perspective to address business and work issues as well as empower employees to get (and stay) involved in the future of their company.

Motivate Your Staff with a Click

If you're looking for a new and cost-effective method for motivating your employees, it's only a click away. Virtual recognition takes the form of a motivational e-mail that, according to many employees, is a welcome change from the normal in-box message.

One employer found that 67 percent of his employees enjoy their daily shot of motivation. Some employers have created entire systems of recognition and rewards dubbed "E-Awards" in which e-cards of praise and thanks are sent from employee to employee. Online recognition is a valuable means of boosting the efforts of employees whose ongoing work leads to the success of the company.

Check out the free biz cards offered at the website of motivational guru and author of 1001 Ways to Reward Employees Dr. Bob Nelson or www.virtualflorist.com.

Fitness is Fiscally Sound

It's not just a coincidence when you're at a mental roadblock on a project that getting up and pacing often can help. Researchers have discovered a connection between exercise, creativity and business success.

Using a creativity test, researchers found that those who exercised before the test had a much longer bout of creativity than those who didn't. Further findings showed that repetitive rhythmic aerobic exercises like running and swimming offer greater insight into the subconscious allowing creativity to blossom.

So the next time you're stuck on a creative task, consider exercise to help expand your mind and trim your waistline.

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IT

All Show, No Go:
The Pitfalls of Pretty Websites

No surprise here…A recent survey revealed that today's web consumers are impatient and in a big hurry. Consumers are now used to a fast pace of life and recognize the Internet as a time and effort-saving tool.

The problem is that many sites, even those owned by big corporations, often overlook functionality for appearance. The study showed that nine out of ten users will give up a transaction after three tries and a third of that number never use that website, or sometimes company, again.

Let your advertising catch the consumer's eye so your site can concentrate on processing their sales - don't let Flash make your business disappear.

For Free or Not for Free…The Choice is Yours

The idea of free, user-friendly business software may make you smirk doubtfully, but save your skepticism for the products because they are yours to try FREE.

Thanks to open-source companies looking to find users to aid their product development process and other companies relying on eventual service contracts, many U.S. businesses are utilizing free software.

Check out these free services to see what your company is missing:

Basecamp is a web-based project-management & collaboration software.

Zoho Show is a web-based presentation tool similar to PowerPoint.

SugarCRM is a customer relationship management program.

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MBA EVENTS OF INTEREST

Organize Your Home-Based Business

Work from home? Too many distractions keeping you from getting your work done? Take part in this interactive seminar to organize your home-based business, and make it a place that you and your clients will enjoy.

Attend this seminar and learn how to: deal with procrastination; prioritize your tasks; enhance and improve your current office procedures and processes and visualize success.

Thursday, April 19, 2007
8:30 AM to 10:30 AM
American Executive Centers - King of Prussia
1060 First Ave., Ste. 400, King of Prussia, PA
Free for MBA members, $25 for non-members, includes credit towards membership (must be paid in advance)
Sponsored by Sun East Federal Credit Union
Reserve by Friday, April 13, 2007

Presented by: Jean Back, the co-founder of Survival Essentials, has provided individuals and professionals the benefits of her organizational expertise for over 30 years.

Ms. Back has varied a portfolio and a wealth of organizational skills geared to helping manage time and physical organization. Her services to clients include, but are not limited to, offering advice on business competence and suggestions for marketing and sales penetration, telephone communication training and de-cluttering.

Effective Employee Discipline

Managing a problem employee can take a lot of time, energy and enthusiasm out of a company. Terminating a problem employee improperly, however, can cost a company financially.

Attend this seminar and learn: The legal do's and don'ts of disciplining and terminating an employee; how to protect your company by thoroughly investigating and documenting personnel problems; tips for counseling an employee to initiate positive change and how to properly handle employee terminations.

PLUS…Companies sending three or more employees receive a free HR Toolkit CD.

Wednesday, April 25, 2007
8:00 AM to 10:00 AM
Sunday's Mediterranean Restaurant
1045 N. West End Blvd., Quakertown, PA
Free for MBA members, $25 for non-members, includes credit towards membership (must be paid in advance)
Sponsored by Sun East Federal Credit Union
Reserve by Friday, April 20, 2007

Presented by: Dick Cipoletti of RCC Associates, an HR consulting and training firm has trained over 50,000 supervisors & staff nationally and teaches in the MBA & HR programs at DeSales University. He is a published author and former television host.

Mr. Cipoletti has also recently partnered with the Midlantic Business Alliance to provide members with low-cost personnel services. Contact MBA Member Services at (800) 533-3732 to learn about the HRPlus benefit program.

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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.