WELCOME

I recently received an e-mail from an MBA member, the founder of Performance Fitness, LLC, asking if we would be interested in an article on physical fitness for this newsletter. What a great idea! Our typical topics do not include anything resembling a "health and fitness" category. So thanks to Michelle Collier for helping us think outside the box. If you would like to submit an article on any subject, not just the usual marketing and finance, please do. And look for Michelle's article in an upcoming issue of AR Online.

I hope those members who enjoy Facebook have checked out MBA's page. The next step, you know, is to become a "fan." Social networking has become an essential tool for your business to keep informed, tune in to your prospects and customers and realize that folks are looking for you.

One more item: Facebook, Twitter and LinkedIn are the new guys on the block, but remember that face-to-face networking is still the best way to make contacts. Register today for MBA's Business Boosting Breakfast on June 3 at our office in Broomall.

Libby Beatty, Chair
MBA Board of Directors

NEWSWORTHY

New "PA Sunshine" Program Enables Consumers to Cut Energy Costs

Governor Rendell has opened a new solar energy rebate program for homeowners and small businesses. The PA Sunshine program will allow thousands of participants to slash or even eliminate their electricity bills. Homeowners and small businesses will receive a discount in combination with federal tax credits which can reduce solar electric and hot water system costs by 45 percent.

A typical household could save more than 50 percent, approximately $620 per year, on its annual electricity usage by having a five kilowatt system installed. Without the rebates offered by the "PA Sunshine" program, installation would cost $30,000.

This program will work on a first-come, first-served basis until all funds have been depleted. All homeowners and small businesses interested in this program will be required to select an installer from a list that has been approved by the Department of Environmental Protection.

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MARKETING

Be Creative! Market with the Mundane

Sometimes marketing your business inexpensively is easier than you think - in fact, there could be various underused opportunities right under your nose. Here are some ideas to make everyday objects into billboards for your business:

Go Beyond Business Cards. Your business's logo, contact information, web address, slogan, etc. should be on all of your stationery and business materials including envelopes, faxes, invoices, statements and receipts.

E-mail, etc. Electronic documents, like e-mails, should also include all of your company information with links to your website. About.com has a great list of sites that can help you create and attach your business's info as a signature.

Go Out to Get the Word Out. Whether you are tossing a ball in the park with your kids or shopping at the local mall, wear a t-shirt, golf shirt or jacket that promotes your business. Even leaving your business card at your dry cleaner or inside of a bill jacket at a restaurant could score you some notoriety.

Drive the Message Home. Stickers, magnets and promotional plates are relatively inexpensive ways to turn your vehicle into a mobile billboard.

Protect Your Company's Online Image

There are many ways your business and brand can be misrepresented online. And thanks to the countless social networking options available, skewed views can be shared with all that participate. Since everyone on the net is susceptible to this risk, take the following advice to protect your business and minimize the damages:

To Retaliate or Not to Retaliate: Instead of becoming impassioned with revenge and legal threats, realize that the more energy you put into the issue, the more it will grow. In reality, there is little you can do that won't incite more unwelcome misuse of your brand.

Develop a Plan: Research the problem to see how concerned you should be. Then prepare a statement to familiarize your staff with your business's formal reaction so they know how to respond should any queries arise.

Respond: Depending on the severity of the brand tampering, you can issue a public statement that expresses how the actions are not affiliated with your company and do not represent your interests or motives. Basically, separate yourself and your brand without challenging or antagonizing the accuser. If abuse continues, however, and false claims are made that defame your business, you may be able to take legal action.

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YOUR FINANCES

Assemble a Winning Advisory Board for Your Business

An advisory board is composed of people that can offer their experience and objectivity to help a business owner make sound decisions. Typically, board members have no financial involvement with the company but serve as mentors to help a business grow.

Here are some tips to help you create an advisory board:

The Search: Consider asking the business professionals with whom you have a working relationship, i.e. your banker and lawyer. Beyond who you know, network locally.

Seek the Odd Couple: It's good to have a couple of advisors to offer suggestions, but by having three you'll always have a tie-breaker when there is a clear difference in opinion.

Seek Diversity: Build a group with varied backgrounds. Your group should have different areas of expertise. For example, have one member with strong financial experience and one with strong sales or marketing experience.

Compensation: About 20 percent of small businesses give advisors some form of compensation while larger businesses reward with equity. For smaller businesses it's often the simple reimbursement of travel costs and the ability to make business connections to build their own credibility.

Setting Term Limits: Depending on how often the board meets, create term limits for board members so you have the option of swapping them out in regular intervals. Many businesses use one to two year terms.

Sale and Leaseback: Can It Benefit Your Business?

Sale and leaseback is a financing technique that requires you to sell your equipment (or other asset) and lease it back from the buyer. This allows a benefit from the sale of your asset while continuing to use it to support the productivity of your business. Common items used for leasebacks range from residential or commercial real estate to business equipment and vehicles.

Each monthly payment on the lease is 100% tax deductible which adds up to significant savings. Many leasebacks are negotiable to suit your business's needs and typically last from three to five years.

Securing a leaseback normally requires no collateral. All you need is a functioning piece of equipment and a leaseback partner. To learn more about financing through leasebacks or to find a leaseback partner, use online search engines like BusinessFinance.com.

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FOR THE HOME-BASED BIZ

No More Teachers, No More Books

The summer can add an extra challenge to working from home if you have school-aged children. Here are some tips to keep your productivity from suffering when school is out:

Work the Z's: Depending on whether you work more efficiently at the break of dawn or in the dark of night, make good use of the time while your children are sleeping.

Kid Swap: If you know other parents who work from home, coordinate days to trade babysitting services. You could also consider asking a trusted adolescent or senior to help out for a reasonable wage.

Let them Work: Find small jobs for your children to do that will actually increase your productivity. Stuffing envelopes, applying postage or adding labels to mailings and products are simple tasks that could keep them occupied.

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HUMAN RESOURCES

Establishing Employee Leave and Time-Off Policies

Creating policies for employee leaves and time-off is one way to clarify your expectations of employees and ensure a consistent approach. Here is some basic information that you should address in your company policies:

Sick Leave: Address eligibility requirements. Explain how paid time-off accumulates and describe pay arrangements and benefits during leaves.

Personal Leave: Address requirements for leave with or without pay and an employee's eligibility for returning to work.

Vacation/Holiday: Create a list of the holidays you'll observe and the requirements to qualify and be paid. Your vacation policy should cover the amount of vacation time to which an employee will be entitled based on their rank, position or time accrued.

Funeral Leave: Define the amount of time you'll allow for a leave for immediate family members, etc. Also, will you require documentation for an employee to qualify to be paid for a leave.

Be sure to have an attorney review your policies because of specific legal obligations (jury duty or military service) and employee rights laws.

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IT

Optimize Website Navigation

Simple navigation is the name of the game. If your customer cannot easily find what they set out to purchase from your e-commerce site, they will get it somewhere else.

Design: Navigation tools (like buttons, drop downs, menus, etc.) should be easily accessed from every page of your site. They should be placed in the same spot on every page and have the same format on each page.

Functionality: Navigation links should lead to product information, FAQs, shopping cart, and contact-us pages. Your site should also include Breadcrumbs that highlight the current page in the hierarchy of the site, allowing users to easily find their way back to the homepage.

Shopping Smarts: Your next focus should be the consumer's shopping habits and needs. Some customers know exactly what they want and how much they want to spend, while others have a broader idea. Cater to both types of customers by offering a secondary navigation tool based on product categories, brand names and price ranges. Your customers can then narrow their choices quickly and easily.

It Pays to Save

While building a strong IT infrastructure can improve customer service and help your business become more efficient, the price of creating it could outweigh the benefits. Start small by making the right choices when buying, using and maintaining equipment.

• Two notebook computers cost more on average than three desktop units
  
  
• Unless your employees work on the go, desktop units give you more power and value for the money
  
  
• When buying office computers, put your money into extra RAM instead of speed to get the most value
  
  
• When purchasing monitors, choose LCD over CRT models. They use less power and generate less heat helping to cut office energy costs.
  
  
• Newer UPSs (uninterruptible power supplies) are more energy efficient than old ones and can help save on utilities
  
  
• Instead of using your office AC unit to keep CPUs cool, invest in a "cooling closet" and save in the long run

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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 Boosting Networking Event

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

Wednesday, June 3, 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

View the photo gallery from our last networking event

Seminar: Strategies for Growth in a Down Economy

This hands-on workshop is designed for the business owners who employ at least several team members and who are determined to achieve significant growth and change in their business over the next 12 to 24 months.

Thursday, June 25, 2009
9 AM - Noon
MBA Conference Room - Broomall, PA

$10 for MBA members,
$25 for non-members,
$35 for non-members includes seminar & MBA membership
(all non-members must pay in advance)

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.