WELCOME

Progress Report

Welcome to our tenth issue of the AR Online. We hope you're enjoying each issue and finding the contents useful for your business. Just a reminder, next month you'll be receiving your print edition of The Alliance Report. Then the AR Online will hit in-boxes twice in October.

We've worked hard to improve on each issue of the AR Online. So far, we've added pictures to make our newsletter more attractive and reader-friendly. And to make our newsletter more interactive, we have already included an online survey (of sorts) and plan to run other online polls.

Other new additions include the AR Online advertisement and sponsorship opportunities which open the online marketplace for members to promote themselves - affordably.

As we work to tailor our newsletter to your needs, we need your input. As with all of our Alliance ventures and benefits, we're interested in hearing what you like, what you would like improved and what you'd like to see in the future. So please, drop us an e-mail. We'd love to hear from you to learn how we can improve this newsletter for you.

Very truly yours,
Libby Beatty, Chair
MBA Board of Directors

NEWSWORTHY

New Loans for Veteran-Owned Businesses

The Small Business Administration has recently introduced a streamlined, low-interest loan program directed at business owners who are veterans or members of the military.

The Patriot Express Pilot Loan Initiative can be used for most business purposes, including start-up, expansion, equipment purchases, working capital, inventory or business-occupied real-estate purchases.

The new Patriot Express loan is offered by SBA's network of participating lenders nationwide and features their fastest turnaround time for loan approvals. These loans feature SBA's lowest interest rates for business loans, generally 2.25 percent to 4.75 percent over prime depending upon the size and maturity of the loan.

There were four Pennsylvania approved Patriot Express lenders at the time this article was written. Your local SBA district office may, however, have a more current listing of lenders in your area.

IRS Seeking Input on Revised Forms

The Internal Revenue Service is seeking input from those who use Form 1065, U.S. Return of Partnership Income, and Form 1120, U.S. Corporation Income Tax Return. The IRS plans to have the forms and related schedules ready for use for taxable years ending on or after December 31, 2008. Comments are due from the public by September 14, 2007.

On the new forms, the IRS has taken care to ask only for information that in most cases will be readily available. The redesign of the Forms 1065 and 1120 is based on two guiding principles:

Promoting compliance by accurately reflecting the entity’s ownership structure so the IRS may efficiently assess the risk of noncompliance; and
minimizing the filing burden on most taxpayers by requiring this information only from complex entities.

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MARKETING

Five Quick Tips for Better Marketing

Market to your target audience: There is no formula for selling your product or service to everyone. What works is understanding who your market is and directing all your advertising efforts towards them.

Don't assume your tastes are your customers too: This means stick to your research (and not your gut) when it comes to targeting potential customers. Just because you think you understand your audience doesn't mean you do.

Promote yourself, not your competition: Even when you mention your competition comparatively, you are giving them name recognition. Let your customers compare for themselves. Focus your efforts on your services and products to show customers there is no comparison.

Be Patient: The expression "get rich quick" usually carries a sneer with it for very good reasons. As you know, it takes time and strategy to build a name and reputation for your business. Remember that and be patient and give your advertising time to work. For example, Absolute Vodka's bottle campaign is nearly twenty years old and has succeeded in making Absolut the third largest brand of alcoholic spirits in the world.

Move Over Myspace - Are You Linked In?

If you haven't heard of it yet, you will soon. LinkedIn is an online network that allows members to make online connections with colleagues (and classmates), discover inside connections when looking for a job or business opportunity, or find an industry expert for advice.

When you join, you create a profile that summarizes your professional accomplishments. Your profile helps you find and be found by former colleagues, clients, and partners. You can add more connections by inviting trusted contacts to join LinkedIn and connect to you.

Your network consists of your connections, your connections’ connections, and the people they know, linking you to thousands of qualified professionals.

As LinkedIn grows, each new member brings their offline business relationships with them encouraging growth and opportunity for everyone. Sometimes it really is, who you know and not what you know.

So are you LinkedIn yet? Yes or No or Not Yet.

YOUR FINANCES

Non-profit for Profit

These days, business and charitable causes seem to go hand-in-hand and now Mission Fish, a nonprofit service, and eBay Giving Works have teamed up to help you to build your business while supporting causes important to you.

Here's how it works: List items for sale on eBay and donate part or all of the final sale price to your favorite nonprofit organizations.

Here's how it benefits your business: eBay Giving Works listings tend to sell at higher final prices, because buyers are more willing to purchase and often pay more for items that benefit a nonprofit. You can enhance buyer trust and loyalty by aligning with a cause, and you will receive a receipt for your tax-deductible donations.

Also, when a seller creates an eBay Giving Works listing, and that item sells, eBay will credit the Insertion and Final Value Fees back to the seller, equal to the percentage of the final sale price that the seller had elected to donate.

Family Business: A Tradition of Change

A study conducted on family businesses that were at least 100 years old and run by fourth, fifth and sixth generation members showed that a commitment to change is what kept the business from faltering.

Change often arose from strategic planning and having the foresight to expand into new ventures. But change wasn't just about services and products. It also included new hires, new markets and implementing new technologies.

In the end, adaptability seems to be the glue that holds family businesses together.

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HUMAN RESOURCES

Prevent Office Violence

Here are steps you can take to provide a more secure work environment for you, your employees and your business:

• Perform background checks on ALL hires
  
• Create a zero-tolerance policy for behaviors that can induce violence, such as bullying or threats
• Assess the physical security of your business space (or hire an expert to do a professional evaluation)
• Develop and practice response measures to handle crisis
• Control access of non-employees to the best of your ability

Help with Hiring

The Commonwealth Workforce Development System, CWDS, is Pennsylvania CareerLink's powerful new online tool for offering one-stop access to a wide-range of services for employers. This new system and website will be launched on September 4, 2007.

CWDS's Employer Enhancements will include: ranking of matching job seekers; address validation; improved candidate searches and access to Labor Market Information directly from the CWDS homepage.

Starting September 4, 2007, the new website will be www.cwds.state.pa.us. To preview the sample homepage click here.

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IT

The Question: Switch to Microsoft Vista?

The short answer is, not yet. Although Windows Vista boasts improved security and more efficient file-sharing capabilities for small businesses it is still new in the market and that means the bugs are just now being discovered.

In addition, Vista may require more than a simple upgrade because your present system may not be able to handle the power of Vista without expensive upgrades. If you really want Vista now, your best bet is to buy a new PC that will have Vista already installed.

If you're not in the market for a new computer wait six to nine months so all the kinks can be ironed out.

Get Google on Your Website

Google has recently released a Custom Search Business Edition that you can display right on your website. The Custom Search Business Edition costs $100 per year for websites of less than 5,000 web pages.

This Edition is different from Google's free search tool because the Business Edition enables customers to enjoy technical support, customization of search results using XML API, a tailored look and feel, optional Google branding - and no ads next to the search results. You can also get basic reports to see how often people use your search engine, and what people are searching for on your site.

The software doesn't require any special setup. You simply use the setup wizard and copy and paste a line of code to your site. That's all it takes to get the power of Google on your site.

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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.

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MBA EVENTS OF INTEREST

Retire in Style

Retirement may seem like a dream in the far-off distance, but you have to plan now because taxes, inflation and procrastination, can give you a rude awakening when your time for retirement actually arrives. And what about your employees? Are complicated tax laws making establishing and administering a plan too difficult and/or expensive?

Wednesday, September 12, 2007
8:00 AM to 10:00 AM
Merrill Lynch
Wayne, PA

Click here to learn more

A Night of Networking

Join Midlantic Business Alliance and Sun East Federal Credit Union for an after-hours networking event at MBA member The Arts Scene, an innovative and cutting-edge contemporary art gallery located in West Chester, PA.

Enjoy the artsy atmosphere while mixing and mingling with fellow business owners and professionals.

Members attend for free!

Thursday, September 13, 2007
6:00 PM to 8:00 PM
The Arts Scene
West Chester, PA

Click here to learn more

Business to Business End of Summer Social:
An Evening of Building Alliances

End the lazy, hazy days of summer by bringing in some new leads. Merrill Lynch is opening their doors and welcoming fellow MBA members and business professionals.

Break out your best marketing materials and come sell your products and services while enjoying light food and refreshments.

Members attend for free!

Wednesday, September 19, 2007
6:00 PM to 8:00 PM
Merrill Lynch
Wayne, PA

Click here to learn more

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Sponsors of MBA's AR Online Newsletter

The Administrators, Inc.

(800) 634-4428
Health insurance for every budget

Loyal To You Greetings

(610) 857-2122
Helping professionals increase repeat
and referral business with greeting cards

Sun East Federal Credit Union

(610) 485-2960
Offer a great employee benefit

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.