WELCOME

I would guess that you are as tired as I am of the doom and gloom blanketing our nation. The inauguration seemed to put a new spin on the doom and gloom depending on your party and your own vision for the future. MBA tunes into politics to the extent that it promotes or hurts small businesses. For that reason, our primary goals, in this difficult time, are to help you promote what you're selling through either low-cost or free opportunities.

Here are two ideas: My Business Advantage is a free advertising tool. Give us 250 or 500 copies of a promotional piece the size of a third of a sheet of copier paper (8 ½ " x 3 ½"). We'll include it in a packet to be distributed at MBA events, meetings and by mail - 250 locations with each distribution. Members only. Interested? Email MBA for more information.

Member News: AR Online (the publication you are reading) is beginning a new column to include member-submitted information of interest to readers. Did your company win an award, celebrate an anniversary or promote a staff member? We'll include your news in our newsletter, along with your contact information (of course). Simply e-mail your brief report to MBA.

Libby Beatty, Chair
MBA Board of Directors

NEWSWORTHY

Philadelphia's New 311 System A Ray of Hope?

Philadelphia's new non-emergency call system is up and running. The free line operates 24/7/365 and provides general information on the city and its services. Area residents can call 311 to connect with any city department or agency to get information or register complaints. Each caller will receive a tracking number to save time in the event that follow-up service is required.

The city hopes that the new hotline will reduce the number of non-emergency calls that 911 receives helping everyone get the attention they need quickly and efficiently.

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MARKETING

Always Know Your Edge

What separates you from your competition? If you're not sure, now's the time to decide and make it the central theme of your marketing campaign. Here are some questions to ask yourself before you find your niche and get your message out to potential customers:

Your products. What makes your products better or different? Is your product more reliable, longer-lasting, eco-friendly or recyclable? Do a percentage of the proceeds go to charitable causes?

Your service. The latest buzz word in customer service is "rewards." Rewards programs create strong, post-sale relationships that can keep customers coming back for more. What can you offer to your clients as an incentive to become repeat customers?

Your pricing. Customers are frequently willing to pay a little more for established brands if they trust and rely on the seller. Providing bundled services and offers can also enhance the perceived value to customers.

Don't Go - Show!

Take advantage of today's technology and sell your products without leaving the office. Instead of holding meetings, schedule conference calls. Instead of printed catalogues, try creating a disk or a website.

Even sales presentations can be recorded and sent to prospective clients. You can also hold real-time webinars. By creating a presentation to be viewed on the Internet you can hold phone conferences and have a real presence without actually being there.

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YOUR FINANCES

Raise Capital by Going Public

Taking your company public is a big decision, and sometimes the obligations may outweigh the benefits. Consider the pros and cons as you ponder this important decision.

Some of the pros include: access to more investors offers the possibility of more capital; increased recognition of your company; and more attractive employment incentives through stock options which may allow you to increase employee retention and attract new talent.

The cons of going public include: the requirement that you keep all shareholders informed of the company's business operations, finances and new legal obligations. In fact, you may be held liable if you don't.

In order to go public you'll have to register with the Securities and Exchange Commission. Click here to learn more about the registration process.

Tax Tips to Consider

Every year small businesses overpay on taxes because of basic misunderstandings and unredeemed deductions. Ask your accountant about these deductions:

Business Trips: Instead of categorizing business-trip hotel stays as entertainment write-offs (50% deductible), can you deduct them as lodging write-offs (100% deductible)?

Domestic Production: Do you qualify to get the 6 percent deduction on net income by using the Domestic Production Activities deduction?

Staff: Do any of your employees qualify you to claim the Work Opportunity Tax Credits (WOTC)?

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FOR THE HOME-BASED BIZ

Organize It

Getting organized and managing your time is frequently read about, thought about and sometimes, implemented. This subject, however ubiquitous, is particularly relevant for the one-person business. Here are a few more tips for the business owner who manages every aspect of a company:

Touch it once: You've heard about this aspect of organizing but it bears repeating: Look at it, decide what to do with it (either file it or act on it) or trash it. Look around your desk to see if you should apply the touch-it-once rule.

Distractions are your enemy: The home-based business owner cannot afford many distractions. The family home, however, is fraught with them. Schedule specific work hours when the office area should be off limits for anything but business.

Delegate if possible: If you have piles of clerical duties, investigate hiring a part-time assistant. Spend your time on what you're selling.

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HUMAN RESOURCES

Teamwork Equals Success

Studies show that employees who are well-trained and understand their responsibilities are more productive without a boss looking over their shoulder. Here are some tips for trying "hands-off" management:

Trust and Let Go: Surrender your need to be hands-on with every project. Put your trust in the people you saw fit to hire. It's unlikely that any mistake will be irrevocable or destroy your business.

Start Slow: Each week, hand off a little more work. Give employees new tasks as well as the creative freedom to complete them. This empowers the employee to "own" the new task which may lead to time or money-saving advancements.

Be Clear: Be sure to clearly communicate your goals for the project you are delegating. By describing your desired outcome and encouraging questions you ensure that each project you hand off is leading towards your vision of success.

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IT

Technologies to Take Your Business up a Notch

Researching all of the new technology on the market could take up as much time as running your business. For that reason, here's a breakdown of some helpful and functional tools that may be able to change the way you do business:

Database Management: Microsoft's SQL Server is a relational management system that allows you to create a data platform for your business that can be viewed and managed from anywhere at any time. You can try out SQL Server for free at Microsoft.com.

E-mail Marketing: For under $100 a month, e-mail marketing services can help you launch an e-mail campaign aimed at creating continuous communication with your clients. For small businesses, keeping customers in the loop means keeping customers.

New Challenges, New Website

As a business grows it frequently must change to meet new challenges. One of the new challenges is redesigning the website. Along with a new website there usually comes a new designer. Here are some questions to help you determine if it's time for a change.

Does Your Site Help You Meet Your Goals?
Your site may look good but is it in line with what you hope to accomplish? Some designers are too involved with the actual look of the site. Find a designer who understands your business objectives, and ask how the redesign can maximize form and function.

How Are You Measuring the Site's Success?
There are statistics that need to be considered before you judge whether or not your site is functioning at its best. Browse the web for tools that can help track how many visitors you have, where they come from and what they do on your site.

Does Your Site Turn Browsers into Buyers?
There are many reasons why browsers leave without buying. Some are easily confused or over-stimulated by poorly arranged products and shopping categories while others might judge that the business is untrustworthy because of the site's appearance. Your site should offer ease and incentives to shoppers.

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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

7+ Million Out of Work…and Counting
How to Start Your Own Business

There is agreement among economists that unemployment may hit the eight percent level this year. If you have already been affected by this trend or are concerned about its impact later, this is a seminar you must attend.

If you need to begin an entrepreneurial career or are just interested in the process of beginning one, this seminar will help you.

Tuesday, February 24, 2009
8 AM - 10:30 AM
MBA Conference Room - Broomall, PA

Click here to learn more or register

BusinessLink Networking Event

Thursday, March 26, 2009
8 AM - 10:00 AM
MBA Conference Room - Broomall, PA

$5 for members,
$15 for non-members to attend,
$30 for non-members to attend and join MBA

Click here to register

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Sponsors of MBA's AR Online Newsletter

Sun East Federal Credit Union

(610) 485-2960, extension 217
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.