WELCOME

MBA's current challenge is to focus on innovation to help members maintain and grow their small businesses in light of our current depressed economy. Our efforts are geared less toward preaching and more concerning practical help. MBA dug a little deeper in those efforts by recognizing that members need a lower dues structure. As you know, dues are now only $25 per year.

Here's another service for members and those interested in joining the entrepreneurial community. MBA's upcoming seminar How to Start a Business is designed for several categories: those who have lost their jobs and decide to now meet their dream of owning a business; those who are just interested in the process and people who own a business and need a refresher.

Join us on Tuesday, February 24, 8 to 10:30 AM in the MBA conference room in Broomall, PA. We'll discuss all the basics and even what kinds of skills and strengths you'll need as you move forward.

And for the "seasoned" entrepreneur, we'll talk about that business plan you probably need to update.

Libby Beatty, Chair
MBA Board of Directors

NEWSWORTHY

Efolio PA Will Offer a Better Look at Job Candidates

Efolio PA is an online, multimedia electronic portfolio that is scheduled to be rolled out statewide this month. It will be free to state residents and students and is sure to be a great resource for employers looking for new talent.

Efolio PA will allow job-seekers to create a multimedia presence complete with the ability to post video, images, audio files and different types of documents.

Users can create pages geared towards specific fields or job opportunities to give potential employers a more refined view of their qualifications.

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MARKETING

Take Your Promotions Online

In almost every technology there lies an opportunity for your business to benefit. Learn from other companies and start using the Internet to create more powerful promotions and reach a wider audience. Here are a couple of ways to consider reaching out online:

YouTube is not just for entertainment purposes anymore. Use it to promote your business by creating short videos. Commercials, product demonstrations and Q & A sessions can all bring life (and customers) to your business.

SlideShare.net is a community for sharing presentations. Upload presentations that you'd like to show privately to current customers or show publicly to possible purchasers.

Keep Social Networking Confidential

Sharing the details of your life with friends on social networking sites is one thing, but allowing access to just anyone could sour a business relationship without you knowing it.

So, if scattered fragments of your life appear on the pages of friends, here are some tips for keeping your private and corporate business separate:

Set Profile to Private: Most social networking sites have privacy standards in place, giving you the option to reject or allow visitors to view your page or join your "friend" network.

Speak to Friends: Often friends post what some consider inappropriate content that includes your name or face. Simply explain to your friends that your privacy is important to you and your business, and ask them to remove your information from their page (including tags attached to pictures which are easily traced).

Get Help: Larger sites offer assistance with the option of reporting inappropriate behavior, plus there are sites like ReputationDefender.com that can help monitor/remove any damaging or libelous content from the web for a fee.

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YOUR FINANCES

Liquidity Keeps Your Head Above Water

Liquidity helps your company pay bills on time. Here are a few ways to improve your standing:

Your Overhead: Calculate your overhead costs including rent, advertising, professional fees and indirect labor. Then look for ways to lower the expenses in these areas.

Sweep Accounts: These accounts are used to increase your income using excess cash. Sweep your extra funds into an interest-bearing account, and when needed sweep them back to their original account, interest included.

Inactive Assets: If you are holding assets that do not help generate revenue, consider using this money to invest in the growth and upkeep of your business.

Coping with a Recession

Making it through a recession sometimes means relying on other businesses to weather the storm. Here are some cooperative-effort tips to keep your business afloat:

Advance Payments: By asking customers to pay upfront, the need for financing from lenders is reduced. It will also allow you to finance your business operations with working capital.

Use drop shipping. Contact the manufacturer or the distributor of the product you're selling, and ask that they ship the product, along with your invoice, using your shipping label. This can save shipping, inventory and storage costs.

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FOR THE HOME-BASED BIZ

Get Out and Get Business

Surviving uncertain times in a home-based business calls for extra strategies to promote your product or service. Building your base of business requires that you raise your profile by going to gatherings specifically intended for that purpose. Here are some tips for networking:

• Ask someone you know to introduce you to a prospect. Don't forget to reciprocate.
  
  
• If you are plagued with shyness, decide in advance what kinds of topics to discuss. Be cheerful, ask questions.
  
  
• Be sure you have enough business cards. Your cards should include your type of business as well as your e-mail address.

MBA will hold a networking, business card exchange on Thursday, March 26, at the MBA conference room from 8 to 10 AM. Call (610)604-4994, ext. 105, for information or to register.

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HUMAN RESOURCES

Background Checking of Job Candidates
By MBA Member Don Hoernig

A 2004 survey revealed that 61 percent of job candidates misrepresent information about themselves, either in their resume or in their job interviews. The best way to tell if someone is lying about their work experience, education, criminal record, or even if they are who they say they are is by doing background checks.

In addition, there has been a significant increase in the number of negligent hiring lawsuits filed against employers. Under "Negligent Hiring" an employer is held liable for actions of an employee like sexual harassment, assault, robbery, etc. that harm co-workers, customers or the public. You can only be held liable if you failed to take actions to screen out job applicants who may be potential threats. The two actions that provide the best protection against legal liability are hiring assessments that screen for counter-productive behaviors and background checking.

There are hundreds of providers of employment background investigations who supply reports including:employment verification, criminal records search, civil records search, workers comp search, SSN verification, credit reports, DMV reports, bankruptcy search, degree verification, professional license verification, drug screening.

Several national employers have recently lost cases involving negligent hiring. Don't put your company at risk - make background checking a standard part of your hiring policy.

Don Hoernig is the president of Leadership Associates which focuses on strategic planning and leadership. The company's special emphasis is on employee performance management. Contact Leadership Associates at (215) 563-0570 or by e-mail at leadershipdn@earthlink.net.

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IT

Tech Buying Online

Real bargain shoppers know that online retailers sometimes offer the best savings on office supplies and business technology. Here are some of the best sites for value and customer service:

Amazon.com: Amazon has a reputation for an enormous, affordably-priced selection of products with streamlined navigational and purchasing tools. Customer reviews and guarantees ensure that you know exactly what you're getting. Check out the "Outlet Deals" category for savings.

CDW.com: Formerly known as Computer Discount Warehouse, this site has all the hardware and software that a small business needs. The site is well organized, easy to navigate and offers resources like articles, webinars and podcasts. A CDW account offers access to an account manager who can answer questions, technology experts for recommendations and technical support to keep your systems running.

Buy.com: Buy.com is for more experienced techies who know exactly what they need. Their prices are more competitive than CDW, but you won't get the same level of customer assistance. Buy.com sells a variety of products, so it is best to bookmark the "buy for business" or "computer and office" pages.

Web Tools to Help You Save

There are many ways to cut back during this recession.Here are some free and low-cost tools that merit your consideration:

Openoffice.org: This open-source software works on all common computers and can be used for word processing, spreadsheets, presentations, graphics and databases. It stores all your data in an international open standard format and can also read and write files from other common office software packages. Openoffice.org can be downloaded and used completely free of charge.

Cafepress.com: This site is a great way to create or access cheap, imprintable marketing and advertising materials, i.e. t-shirts, calendars, stickers, clocks and buttons. Cafepress sells the items to be printed, but they don't design a thing. You can browse the "stores" of the 6.5 million users/designers already in the CafePress community. Think you have a thing for design? Try setting up your own shop for free.

Associate-o-matic.com: This affiliate program offered through Amazon gives you the opportunity to build a stand-alone store or add a shopping area to an existing website or blog. Amazon handles the order processing, payments and shipping while you earn up to 15 percent for every sale.

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MEMBER NEWS

This past November, MBA member Robert Bovarnick, Esq.'s column in Forbes.com covered the presidential campaign. As a result of widespread interest, Rob has been asked to write a monthly political column in Pennsylvania Law Weekly. The first appeared in the February 2, 2009 issue. The columns will also appear on www.rbovarnick.com.

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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 Seminar

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.

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

Click here to learn more or register

BusinessLink Networking Event

Join us for bagels, coffee and business, and bring plenty of business cards!

Thursday, March 26, 2009
8 AM - 10 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 learn more or 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.