 WELCOME
The MBA networking event held at Chickie's & Pete's near the Philadelphia stadiums was not only successful, but fun. There was a large, animated group doing business with an entertaining backdrop of sports, drinks and crab fries (really).
One of the things I noticed was how work talk, peppered with the Phil's new season, the election and the merits of detailing your car the right way (really) left everyone feeling energetic and refreshed, even though "working."
I spent some time talking with MBA's new Sun East account executive, Scott Edwards, about…birds. We also talked about home equity loans for small business owners. But because Scott loves wild birds as I do, we discussed a bit about the return of the Bluebird to Tyler Arboretum, a bird once thought headed for extinction.
I noticed that throughout the two-hour networking event, that's just about what everybody was doing; chatting about their prospect's personal interests. Mixing it up goes a long way to developing a business relationship.
Very truly yours,
Libby Beatty, Chair
MBA Board of Directors
NEWSWORTHY
Decrease in Workers' Comp Costs
In February, Gov. Edward G. Rendell announced a 10.22 percent overall decrease in workers' compensation costs that will result in $250 million in savings for Pennsylvania employers.
"At a time when more Pennsylvanians are working than ever before, we have seen significant decreases in workers' compensation claim frequency," Governor Rendell said.
"I am pleased to announce that workers' compensation insurers may be reducing their rates due to our approval of the Pennsylvania Compensation Rating Bureau's recent filing to decrease costs an average of 10.22 percent overall.
"Right now, Pennsylvania employers are benefiting from the excellent job they are doing to provide safe workplaces for their employees. Additionally, our workers' compensation insurance system remains strong and competitive. Today's announcement is a win-win for business."
Costs and savings will vary by type of business as well as specific claims history. Some employers will see savings, others may not. In addition, employers will see their 2008 unemployment compensation taxes reduced an estimated $141 million.
Winning Federal Contracts
The Small Business Administration (SBA) has just launched its latest free online course, Business Opportunities: A Guide to Winning Federal Contracts. The instructional, self-paced guide is easy to follow and available in the Online Training section of SBA's website.
The course is designed for all small businesses, especially women entrepreneurs and small firms in underserved markets. Information about the federal market will be provided along with where to find contract opportunities.
From the SBA's training site, click on the menu of free online courses, and then select the first course listed under government contracting.
Before entering a course, you will be prompted to complete an online registration form. The registration process is simple, asks only a couple of questions and will take less than a minute to complete.
Business owners can earn a certificate of completion from the SBA once the course is completed.
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MARKETING
Advertise with Your Faxes
It's probably not a surprise to most of us who use fax machines, but cover letters usually take up only half the available space on a page; so why not use that space to advertise.
For example, use the extra space on the page to list your company's services or if you are in retail, list your products and promotions.
Then every time you send a fax you'll be advertising for free.
Three of the Top Business Card Mistakes
If you're like most business professionals, your business card is probably your most widely-seen promotional item. So take a close look to make sure you're not making any of these common mistakes:
Itsy, Bitsy Print: Small print is hard to read. Be sure that your name, phone number, website and address are large enough to be read easily.
Empty Back: If the back of your business card is blank, you are wasting valuable space. The back of your card can be used to list your services, testimonials or act as a coupon or promotional offer.
No Personality: Your card should be as unique as your business. Why not do something different with your space? Attach a magnet to the back of your card so it can be hung on the fridge or a filing cabinet. Round the corners of your card. Display a mini-map with your location.
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YOUR FINANCES
2008 IRS Tax Tips
Of course, advice is plentiful on the IRS website. But where exactly do you find the latest tips and advice? The IRS has a page titled 2008 Tax Tips. The list of offerings range from monthly filing tips to a New Form for Employees Misclassified as Independent Contractors.
Another area to check out is the Fact Sheets 2008 page of the IRS site.
Personal Balance Means Better Business
Most entrepreneurs are, by nature, do-it-your-selfers. But taking time for yourself and learning how to delegate responsibilities is an integral part of growing your business. Here are some pointers to help you keep yourself balanced:
Outsource: Consider outsourcing your HR, accounting or IT needs. You can also start delegating responsibilities to trusted employees. In addition to relieving some of your burden, the added responsibility can often motivate employees for bigger and better things.
Set Limits: Give yourself a schedule and stick to it. Create time during the day for personal calls, set a time to leave the office or make plans to do something unrelated to your business for an hour after work. Even an hour dinner break can sometimes re-energize you for burning the midnight oil.
Unplug: Plan some time each day to work without electronics, gadgets or even the phone. Devote the time to neglected areas of your business, employees or even clients. When's the last time you received a handwritten, business note?
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HUMAN RESOURCES
Are You Liable for Your Employees?
The answer to the above question is, yes. If you have an employee who lands your company in front of a judge for sexual harassment, you should know that the employee is not the one on trial - your company is.
So it's important for you to know that judges are usually lenient with companies that educate their staff and take action promptly if there is an accusation. By creating an atmosphere where harassment of any kind is not tolerated, you have a better chance of protecting your company.
Log onto the website of the US Equal Employment Opportunity Commission where there's a special small business section with answers to some common
questions that employers encounter.
Is An Exit Interview Too Much Trouble?
Some business owners may find the idea of an exit interview uncomfortable and even unnecessary, but the truth is that outgoing employees may have information that could greatly benefit your business.
To set the scene, consider taking the employee out for a drink after work. The social setting should create a relaxed environment where the former employee can share feelings and problems with the job. Ask about hidden difficulties and flaws with the business in general. If you are feeling gutsy, ask his or her opinion of you.
The difference between what a current employee and a past employee will tell you can be substantial, so don't miss the opportunity to collect details while simultaneously giving an employee a dignified send-off.
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IT
Creating a Password? Toughen Up
In today's world your business data is as valuable as the money you have in the bank. That's why having a relaxed attitude about business passwords is a dangerous and risky practice.
By creating strong passwords you can add another line of protection for your business and your bottom line. Here are some tips for creating tough passwords:
- Use at least eight characters to create a password that is relevant to you.
- Alternate lower and upper case letters.
- Incorporate numbers but not obvious combinations like birthdays or anniversaries. One way to do this is to substitute numbers for letters such as using a zero instead of the letter "O."
- Use special characters when permitted.
- If you have a system that prompts you to change passwords monthly, don't reuse old passwords.
- Don't store files with password information on your computer system. Instead keep a hard copy stored somewhere safe and private.
Recharge Your Site
The number one problem with most websites is that they are neglected. Content, accessibility and links should be updated frequently.
Here's some advice for keeping your site fresh and functional:
Study the Competition: If you feel lost or uninspired, check in on what your competition is doing. By using services like compete.com, quantcast.com or alexa.com you can also see how many visitors your competition's site is getting. These free services also let you know the basic demographic information and how much time surfers spend on the sites about which you're asking.
Web Window Shoppers: Turning surfers into shoppers means collecting feedback with web analytics software and making small adjustments to your prices, copy and layout. A new trend in impulse buying is to offer cybershoppers a bill me later option that offers financing to customers.
Cyber Salesperson: Otherwise known as avatars, animated characters acting as a cyber salespeople can greet visitors to your site and let them know about promotions, services and new products. For $10-$50 a month your can use Sitepal.com to create an avatar for your site. Sitepal also lets you record your own messages and uses your own voice to address your guests.
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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
“Life Begins at Retirement”
Prepare for the Good Life
Whether retirement seems like a dream in the far-off distance or is right around the corner, you need to know how to protect your investment. If you’re unprepared, taxes and inflation can give you a rude awakening when your time for the “good life” arrives. So pre-planning is absolutely critical.
Thursday, April 17, 2008
6:00 PM to 8:30 PM
Troy University - Exton Campus
Free for MBA members,
$25 for non-members and must be paid in advance
Click here for more information.
E-mail Debbie Winshel to register or call (800)533-3732.
Creative Networking
with an Exceptional Backdrop of “Living Showrooms”
Spend a spring evening mingling with fellow business professionals in the "living showrooms" of MBA member Cedar Hollow Design Center's restored 1840's general store.
Thursday, April 24, 2008
6:00 PM to 8:00 PM
Cedar Hollow Design Center, LLC - Malvern, PA
Free for MBA members,
$20 for non-members and must be paid in advance
Click here for more information
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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. |
