 WELCOME
There's a lot going on in the world today. And here in the U.S. we're battling over who gets elected to the top spot. My daughter in D.C. says there's excitement, anticipation and the thrill of competition in our nation's capitol. She says even the bars are serving red and blue drinks.
But we have our own everyday tension here at home just trying to find new customers and keep the old. And we'll hope that whoever is elected top dog keeps our small business issues in mind.
In the meantime, take a night off from election news and concentrate on some new prospects. Your Alliance works hard to find great new places for members to network. Here's one that you really shouldn't miss - Philadelphia's #1 venue for fans of the Phillies is where you should be on March 25.
Of course you know where I mean: Chickie's & Pete's Café in South Philly. Our business and baseball theme works perfectly on baseball's Opening Day, while we exchange cards and have some fun.
Click here for details.
Mark your calendars, and I'll meet you there.
NEWSWORTHY
Small Business Compliance, Simplified
Federal agencies are now required to publish compliance guides for small businesses when new legislation is likely to affect them. The guides will be posted on each individual agency's website and are meant to make the regulations easier to understand and implement.
To stay ahead of the game, we suggest visiting each regulatory site to sign up for free e-mail updates so that you can be made aware of changes as they occur.
Give Me Five
On March 13, 2008, the U.S. government is introducing a new $5 bill as part of its ongoing commitment to protect U.S. currency from counterfeiters. As with the earlier redesign of the $10, $20 and $50 bills, some things about the new $5 bill have changed, and some have stayed the same.
The security features make it easier for you to check the new $5 bills you receive and more difficult for counterfeiters to fake. Hold your bills up to the light to check these easy-to-use features:
Two watermarks: A large number "5" watermark is located in a blank window to the right of the portrait. A second watermark - a column of three smaller "5"s - has been added to the new $5 bill design and is positioned to the left of the portrait.
Security Thread: The embedded security thread runs vertically to the right of the portrait on the redesigned $5 bill. The letters "USA" followed by the number "5" in an alternating pattern are visible along the thread from both sides of the bill. The thread glows blue when held under ultraviolet light.
Together, these features make the bills safer because they're easier to check, smarter to stay ahead of savvy counterfeiters, and more secure to protect the integrity of U.S. currency.
Want to check out the new design or learn more about the changes? Click here.
Educational materials are also provided for free download to educate cash handlers about the security features in the bills.
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MARKETING
Need Direction for Direct Mail
The trick of direct-mail campaigns is knowing and finding your prospects including their age, job title, etc. Here are some tactics for gathering that information:
List Brokers: List brokers find the right list for your needs and get 15 percent or a small handling fee directly from the list vendor.
List Managers and Aggregates: A list manager knows many list options and can let you know when the lists were last updated and the frequency of their usage and by whom.
Publishers: Many print publishers rent their lists. These lists can be offered with job titles, SIC codes and/or geographic requirements.
Trade Show Tips
Trade shows are a great way to drum up new business and to attract customers to your company. The best way to prepare for a trade show is to know what you are getting into. Here are some things to consider when preparing for your next trade show:
Show History: Before committing to exhibit at a trade show, ask organizers - how many people attended in the past, how the show is promoted and past participants' success and satisfaction.
Preparing a Display: Draw in your prospects with professional-looking product displays, photos, signs and promotional materials. Seek help from an expert to create any part of your display that you don't have the time, tools or ability to create.
Product Literature: Be prepared with enough literature for the expected number of attendees. Plan ahead to make sure your prospects leave with a lasting positive impression and a means to contact you to do business in the future.
Pre-show Promotions: Invite contacts, customers and potential clients to the show well before the event by letter, e-mail or phone calls.
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YOUR FINANCES
Helping Customers Pay - Their Own Way
Surveys show that customers are more likely to make a purchase if their  preferred method of payment is an option. Did you know that the average cash sale is just $30, while the average check sale is $52 and the average credit card sale is $76. And 35 percent of American Express cardholders won't enter a business that doesn't display their card's logo. So your business is missing out if you don't yet accept all forms of payment.
Contact MBA's Member Services Rep Hazel Smarowsky at (610) 604-4994, ext. 103 to learn about the merchant card processing benefit. Or log on to the Members Only section of www.mbainc.org.
Business Costs Abound
But Some May Not Be Necessary
Start lowering your expenses by taking a look at your overall business records to find additional deductions. Ask your accountant for advice to be sure that you aren't becoming entangled in a situation that could lead to an audit.
With that mentioned, here are some places to start looking:
Check for hidden deductions. The costs of training employees, interest on business loans and advertising costs are all business expenses that you may be able to deduct from your overall income.
Save for your retirement. Sole proprietors are allowed to put up to 20 percent of their annual income into retirement accounts, i.e. solo 401(k)s, SEPs or a Keogh. If your company was established as a corporation, you can put up to one-quarter of your income into savings and, therefore, reduce your taxes.
Put your family to work. By distributing your income to family members you can increase the amount that is taxed at lower tax brackets. Ask your accountant for advice so you spread your wealth fairly and legally.
Hire independently. Payroll and the resulting taxes can be reduced by hiring independent contractors instead of employees.
To learn specific ways to control your costs, register to attend MBA's upcoming Business Planning Boot Camp: Strategies to Save Your Business Money.
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HUMAN RESOURCES
On the Clock…On a Break?
Salary.com's 2007 Wasting Time Survey found that an average employee wastes 1.7 hours of a typical 8.5 hour work day. The reasons given by employees for slacking included long work hours, not enough work to do and their work is not challenging. Time spent not working was commonly spent using the Internet, socializing with co-workers and conducting personal business.
Ultimately, it's up to you to train your managers to understand what employees are doing and how they can do it better. What do your managers know about their staff's daily activities?
How to Hire Manual Laborers
Experts agree that employees with less skill and education often pose greater absenteeism problems. To avoid finding yourself with a worker who won't work, you should know what questions to ask in an interview and what to look for in the answers.
Be sure to ask applicants how their last boss would describe their attendance record. Then follow up the interview with a call to that boss. If that person chooses to reveal information to you, pay attention to the answer as well as the tone accompanying it. Do they match? If not, there may be more they're not willing or able to share.
Also ask applicants about their achievements - both personal and professional. Through this question you are trying to uncover if they have shown dedication, commitment and reliability toward a cause or organization. This may translate to a reliable worker.
To complete any hiring process, a background check is recommended by hiring experts. Type "employment verification" into any search engine to find companies that will perform the check at an acceptable price. (Or check out experts in our MBA Membership Directory.)
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IT
Your Cheap Wireless Guide
The "luxury" of doing work away from the office is available to just about anyone nowadays.
For starters, try logging on to www.logmein.com to remotely connect and work from any computer that's been previously set up; and it's free. (Of course, you'll need to access the Internet at your remote location.) The only shortcoming is that anyone near the target computer can see where you are surfing and what you are working on.
Teach an Old PC New Tricks
In order to utilize Microsoft's new Vista OS software many users need to invest in costly upgrades, which makes little sense considering an entire new system complete with Vista can be found for less than the upgrade. If you are planning on making a change, don't be so fast to trash your old PC. Here are some ways to utilize your old system to help sustain your business and/or some good causes:
Dedicated Backup Server: By turning your old PC into a backup server you can conduct regular backups for all of your networked systems and warehouse archives in one place.
You can purchase backup programs off the shelf or if your budget is especially tight, go online to a site like www.backuptoserver.com to download a free backup program.
Firewall Overhaul: By turning your old PC into a hardware firewall you can enhance your security and reduce the risk of virus attacks, identity theft and spyware infiltration.
To find free software for your new hardware firewall, go online to a site like www.smoothwall.org.
Distributed Computing Movement: Distributed computing is a method of using spare computers, via the Internet, to create a virtual supercomputer. By donating your computer's unused processing you can help researchers find cures for diseases such as Alzheimer's or join SETI in the search for extraterrestrial life in the universe. Ask your accountant if there are any write-offs for donating your computer's efforts.
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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
Business
Planning Boot Camp:
Strategies to $ave Your Business Money
Overlooked tax deductions and credits…An inappropriate accounting
system…Improper payroll procedures…An insufficient retirement plan…Unbudgeted expenses
Any of these mistakes could be costing you and your business plenty. Don't let Uncle Sam (or inefficient procedures) take another cent of the money your business has earned and is entitled to keep.
Wednesday, March 19, 2008
8:30 AM - 10:00 AM
American Executive Centers,
Plymouth Meeting
Free for MBA members and American Executive Centers’ tenants,
$25 for others who must pay in advance
Click here for more information.
Contact Debbie Winshel to register.
Network and Rally
for Your Business and the Fightin' Phils
at Chickie's & Pete's Café
What better way to talk business and baseball on Opening Day than to join us at Midlantic Business Alliance's networking party at Philadelphia's #1 venue for fans - Chickie's & Pete's Café.
Tuesday, March 25, 2008
6:00 PM - 8:00 PM
Chickie’s & Pete’s Café, South Philly
$15 for MBA members if paid in advance, $20 at the door,
$24.99 for non-members and must be paid in advance
Click here for more information.
Contact Debbie Winshel to register.
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Sponsors of MBA's AR Online Newsletter
(800) 736-6034
Home office support! Virtual offices, meeting rooms,
secretarial and IT support.
(610) 485-2960, extension 284
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.
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