 WELCOME
This message is for employer eyes only:
Complete healthcare coverage used to be something employers typically offered to their employees. No more. The cost is going up, up, up and consequently, the benefit offered is going down, down, down. As you'll read in the article Cutting Health Care Costs, there are ways to cut some of this rising cost from your budget.
Unfortunately, some of your employees will balk. But both you and they know the reality. Health insurance, for a variety of reasons, has soared in cost, and concessions must be made. So be nice, but firm. Your business must be profitable in order to pay any benefits at all.
I think, however, that most employees will surprise you and be supportive of their company. I know mine did.
Libby Beatty, Chair
MBA Board of Directors
NEWSWORTHY
Mark Your Calendar and Check It Twice
As you know, this year daylight savings began three weeks earlier than normal, and it's actually going a week longer until November 4.
Remember to mark this in your Microsoft Outlook calendar and other online schedule-keepers. That's because this "timing" change was enacted by a 2005 law, so pre-2005 software and devices don't know about our change in law.
That spells trouble for us as well as our computers and software which may become an hour off in the extended week in November. If you haven't dealt with the problem yet, updates to correct this problem are probably available through your software provider's website.
For example, Microsoft offers different fixes for different programs and program versions. Click here for the answers to your Microsoft questions.
NOTE: You may want to take this as an opportunity to begin or reaffirm your commitment to the practice of confirming the time of meetings scheduled. After all, you never know if your associates have updated their calendars.
 BACK TO TOP
MARKETING
Retailers Cut Costs by Teaming Up with Distributors
Smart retailers know exactly what to ask for from distributors: HELP. An often untapped resource, distributors have been known to help retailers cut costs by giving planning, promotional and marketing support.
Ask your distributors to offer personnel to help market and maintain a current inventory. Distributors have been known to cut prices in order to create room for new inventory that can be used to the advantage of a retailer with specific promotional goals in mind. Also, a distributor may be willing to share the cost of ads and promotions.
Put Your Logo on Your Customers' Plastic
MasterCard has recently implemented a new program that allows  entrepreneurs to place their logo on pre-paid gift cards. The gift cards are available in denominations ranging from $10 to $500 and can be used wherever MasterCard is accepted. The gift cards are also customizable and can carry the recipient's name and an embossed message.
This is a clever idea to brand a business, but you're going to pay for it. Costs include: a logo set-up fee, a per-card service fee, a loading fee, etc. So make sure to read the fine print and do the math to make sure this is a worthwhile investment.
BACK TO TOP
YOUR FINANCES
The Gift of Prevention: Putting the Freeze on Fraud
The holiday season is known for prosperity, but it can also bring tidings of ill will. Take preventative actions to protect your business, yourself and your customers from crime.
Be on the lookout for counterfeit currency. Train staff who handle cash to inspect each bill. Visit www.moneyfactory.gov/newmoney for information and training materials about the security features in authentic U.S. currency.
Create a system to accept and verify that incoming address changes come from your customers and not an identity thief. Have a policy that all changes must be done in writing and with a signature. Then follow-up with a call to verify authenticity.
Controlling Healthcare Costs for Your Company
With the cost of healthcare rising steadily, it's prudent to be aware of alternatives for managing this major cost for your bottom line. Here are some suggestions to consider:
Comparison Shop
Check with your insurance administrator to see what changes have occurred and what new plans have been introduced that could help you save.
Cut Some "Extra" Coverage
Consider other ways to cut back your company's "healthcare" costs. Perhaps you can start by reducing the level of benefits of additional health-related programs like dental and vision care or prescription drug coverage.
Increase Employee Contributions
The most direct route to cutting high premiums is to turn some of the cost over to your employees. Of course, employees won't jump at the idea, but it's better than no health plan, right? (But be sure to allow for open and honest conversation with employees. They need to understand the impact of healthcare on your ability to run your business and protect or create jobs.)
To discuss strategies for cutting your company's healthcare, contact MBA's insurance administrator, The Administrators, Inc.
BACK TO TOP
HUMAN RESOURCES
Small Business Firing
Since small businesses are frequently confined by small spaces and close relationships, letting someone go can be a unique challenge. Here are some tips to help the process move as smoothly as possible:
Fair Warning: Let employees with poor performance know that they are being monitored. This allows them the opportunity to make improvements.
Create a Script: Plan ahead by knowing exactly what you are going to say (avoid small talk by going straight to the point), and have a witness present to protect yourself. Also, be prepared to change their passwords and access codes as soon as an employee is terminated.
Maintain Control: No matter how the employee reacts, maintain your composure. You can be compassionate while still maintaining a sense of professionalism. By putting yourself in their shoes you will be able to treat them as you would like to be treated in the same situation.
How to Choose a Temp Agency
Temp agencies are usually sought out when unexpected circumstances  arise, but taking a more proactive approach towards finding an agency can save money and increase the likelihood of getting exactly what you need. Common reasons for using temp agencies span from trying to save on full-time staff to filling in temporarily vacant or seasonally-required positions.
Temp agencies use different methods for recruiting candidates. Some use newspaper advertisements and job fairs while others use computer testing and psychological evaluations to screen candidates. If you need a temp with specific skills, it is best to use an agency that uses thorough interviews to help you get exactly what you need.
Agencies usually charge a fixed percentage greater than the hourly cost of the worker, but most firms are willing to haggle. To find an agency near you use the online tool at the
American Staffing Association or use MBA's online marketplace or Member Directory to find fellow members in the Employment Search field.
BACK TO TOP
IT
Boost Customer Perceptions with Alias E-mail Accounts
By creating alias e-mail addresses you create the illusion of being larger than you are while complementing your goal of professionalism.
So, instead of having one e-mail address, consider creating one or more special alias accounts.
Tips for IM-ing in Business
Adopt a user policy for Instant Messaging (Im-ing): Employees need to know whether you view IM-ing as an appropriate vehicle to communicate with customers or business partners.
Don't use Im-ing to communicate confidential or sensitive information. If your company is in the business of providing professional advice regarding stocks, finances, medicine or law, chances are it's not safe or smart to do so through IM-ing. It is better suited to communicating quick information about project status, meeting times or a person's whereabouts.
Be aware that instant messages can be saved. Some IM services allow you to archive entire messages. Bottom line: Be careful what you say just like you would in an e-mail.
Be aware of virus infections and related security risks. Most IM services allow you to transfer files with your messages. If you collaborate on documents for your business, file transfer is important. You'd be wise to learn more about the quality of your firewall protection to decide whether or not to restrict transferring files through IM.
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
MBA EVENTS OF INTEREST
Enchanted Evening of Networking
Join Midlantic Business Alliance and Sun East Federal Credit Union at Whole Foods Market - Devon for a magical night of trick-or-treating - BusinessLink Style.
The trick…bring your business cards, brochures or whatever helps promote your business. The treat…new business contacts, connections and customers.
Come dressed as the most creative ghost, goblin or ghoul and grab a prize for the best costume. It’s sure to be a ball…
Thursday, October 25, 2007
6:00 PM to 8:00 PM
Whole Foods Market - Devon
Free for MBA members & non-members
Click here to learn more
Instant Intros: “Speed Dating” for Businesses
“Speed dating” is nothing more than marketing, and Midlantic Business Alliance (MBA) felt a new marketing concept in one area of society
suggested it would work in business…so we did it.
It worked and 22 companies sat down with each other in face-to-face meetings and started doing business.
Reserve your spot at the next networking adventure, and give Instant Intros a try.
Wednesday, November 14, 2007
7:30 AM to 9:30 AM
The Country Squire Diner
Cost: $25 for MBA members and non-members
Click here to learn more
Participation is limited to one representative of each industry so reserve your spot now.
BusinessLink Networking Breakfast
Spend the morning with a fun group of professional men and women who want to meet new clients and contacts just like you. Bring your business cards, brochures or whatever else it takes to showcase your business while mingling with professionals from different industries.
Introduce a business owner friend or colleague to Midlantic Business Alliance by bringing them to this special networking breakfast, and we will waive the fee for both of you.
Tuesday, December 4, 2007
7:30 a.m. to 9:30 AM
The Little Inn Restaurant
Free for MBA members and their non-member guests, otherwise MBA members pay $15 in advance, $20 at the door
Click here to learn more
BACK TO TOP
Sponsors of MBA's AR Online Newsletter
Cruise Planners
(610) 628-9664
Land & sea vacations / fundraising for non-profit organizations
LAD Enterprizes
(610) 429-3122
Your business technology advisor
(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.
|
