WELCOME

My brother-in-law is always in a constant state of "fixing." And if there's nothing to fix, then he's in trouble. So when I saw these goofy light bulbs he was installing all over his house, I thought there was probably nothing to fix. How wrong I was.

I checked out the goofy light bulbs and discovered that the swirly-shaped things he was installing were compact fluorescent light bulbs (CFL). Using 75 percent less energy and lasting ten times longer, the CFLs were saving him $30 over each bulb's lifetime. Now, imagine how other small changes could affect your small businesses' bottom line.

From changing a light bulb to installing energy-saving systems, it's easy to make changes that reduce energy costs and improve energy efficiency. Check out Business.gov and look for Small Business Guide to Energy Efficiency to help you become energy efficient, save money and locate assistance. In today's economic times, every dollar counts.

Libby Beatty, Chair
MBA Board of Directors

NEWSWORTHY

The First Step for Compliance

The U.S. Department of Labor recently released a new suite of FirstStep elaws advisors to help employers comply with the department's record keeping, reporting and notice requirements.

This new tool is part of a set that also includes a poster advisor and an employment law overview advisor. These Internet tools are free and web-based. The advisors provide questions requiring yes or no answers or multiple choice responses which then provide the user with customized information explaining the requirements of each law.

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MARKETING

Survey Says…Zoomerang

Knowing what your customers think is integral to the success of your business, so why not ask them? Zoomerang.com can help you gather valuable customer opinions by using surveys in the form of e-mail, off-site surveying and by real-time telephone. Zoomerang can also transfer paper surveys into an electronic format or help you create a new format to deliver the best results.

In addition to getting the survey out, Zoomerang can also help you make sense of the results.

The FREE Zoomerang Basic offers up to 30 survey questions and 100 responses. Survey results are kept for 10 days. To learn more, go to Zoomerang.com and get a quick online quote or view samples.

Send a Postcard

Postcards are a fast and inexpensive way to reach new customers and stay in touch with old ones. Not only are they easy to create, but they are a great tool to target and track customers.

Simple and direct: Treat your postcard like a billboard, making it simple and memorable at a glance. It should leave the reader curious about your offerings.

Get it read: The USPS reports that postcards are six times more likely to be read than any other form of direct mail.

Postcards without postage: Instead of mailing, postcards can be handed out at events, left on local bulletin boards or placed in customers' lobbies (with their permission, of course).

YOUR FINANCES

Get Paid in Full

Customers who are regularly delinquent in their payments can have a damaging effect on your company's cash flow. In order to avoid getting crunched by late-payers consider the following tips:

Create a protocol: By having a clear and formal billing process you let customers know that deadlines are serious and late payments won't go unnoticed.

Get some up front: If your business is a service industry, consider working on retainer and if you are selling a product, you can ask for an advance up front.

Send a reminder: Send payment reminders to your clients a week to five days before the account is due. Also, keep records of invoices and e-mails for proof.

Speak up: Some business owners feel that calling their clients will bother them or create bad blood. In reality, the only thing your silence creates is a customer who thinks late payments are OK.

Walk away: Review your client list annually. Separate the ones that are regularly delinquent, and send them on their way. You'll have more time for your clients that understand that your business expects payments on time.

Parents & Children, Sisters & Brothers Doing Business

Keeping business in the family is a driving force for many entrepreneurs. But building a family business can be a double-edged sword with equal opportunities for desirable and disastrous results.

Here are some considerations to keep in mind as you try to keep it all in the family.

Establish boundaries: Discuss how you will address family members in business settings. It's also important to agree on how to keep high tension work situations from getting personal.

Clarify roles: Agree on the titles, responsibilities and contributions of family members. This includes skills, experience and even time. As with other employees, schedule regular "review" periods. Use these meetings to discuss if each person's commitments since the last meeting were performed as expected and if changes need to be made for the next "review" period.

Designate decision-makers: Decide who will make what decisions and which decisions will be made jointly. Also, set up a time each day when business issues can be discussed to make the joint decisions.

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FOR THE HOME-BASED BIZ

Should You Stay or Should You Go?

Some businesses start out at home and find it necessary at some point to move on. But exactly how do you know when it's time to move to a commercial property?

There are many reasons business owners might be facing this dilemma. Perhaps harmony in the family is suffering. Maybe community zoning laws do not allow the changes your business requires.

Running a business from home is not for everybody. Whatever your situation is, make a list of the problems you are facing to help make the decision whether to stay put or start researching your alternatives such as using virtual offices or renting office space.

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HUMAN RESOURCES

Recruit with Creative Ads

Creative and well-conceived ads usually have the largest success rates, so employ those same standards to your recruiting ads. Simply stating the job title, requirements and experience is boring. Job candidates will more likely respond if they are enticed.

The first step in breaking the old model is to dress up the job title. For example, change the title of office manager to business team coordinator.

Instead of listing your requirements, try using examples of job responsibilities in a more motivating manner. "Organize the team environment to meet the challenge of excellent customer service."

Attractive ads bring in attractive prospects - so get creative.

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IT

Check Out This Google Tool

Want to make it easier for customers to buy from your website? With the Google Checkout tool, online shoppers can quickly and easily buy from your store.

Google Checkout offers low fees for credit and debit card transactions - charging two percent plus 20 cents per transaction. And there are no fees to get set up or to access the service.

Plus, if you advertise with Google AdWords, you will also be eligible for free transaction processing for some or all of your Google Checkout sales each month. For a limited time, when you sign up you'll actually receive $50 in free AdWords advertising.

Get to the Point

Surveys have shown that over 50% of e-mail readers will look at the "from" line before opening. When using direct mail, it is helpful to choose an e-mail "from" name that includes your purpose in writing and your company name i.e. newsletter@abc company.

But don't neglect the "subject" line either. Here are a couple tips:

Most subject lines are about 50 characters, including spaces. Your most important information should be included in that 50. (But make sure you don't cut off that deadline date or the sale price or something else crucial to the subject.)

If you have info that's specific to your target e-mail list like product preferences or interests, be sure to personalize the subject line to attract attention.

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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

Networking Luau

Aloha. Whether you're looking for new customers or an opportunity to talk business, MBA's luau is just the place on a warm summer evening.
The Manayunk Brewery & Restaurant is hosting the MBA luau on their upper deck. Enjoy complimentary beer or wine and a light dinner while chatting with your prospects along Main Street in Manayunk. What a great way to take care of business!

Thursday, August 14, 2008
6:00 PM - 8:00 PM
Manayunk Brewery & Restaurant - Philadelphia, PA
$15 for MBA members if paid in advance, $20 at the door,
$20 for non-members (must be paid in advance)

Register or Click here for more information

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Sponsors of MBA's AR Online Newsletter

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.