WELCOME

Now that the year is coming to a close, does it seem as if your customers and prospects seem overextended and you feel there's not much reason for you to push for more business? Don't resign yourself to that end-of-year feeling of doom just yet.

Actually, this is a time of year that can present a special opportunity for you to crank up your efforts while people are feeling hopeful, open and, with luck, agreeable to listen to your pitch to try new things.

As your prospects are making their resolutions for the new year, consider what you can offer to help them accomplish their goals. If you are a financial advisor, you are well placed to work on your clients' plans for their future security. If you work with nutrition and weight loss, this is an ideal time as folks are noticing the results of not eating properly. If you sell insurance, your prospects may have already been considering the benefits of your products. Be creative.

And don't be gloomy. It's time to take a deep breath and move forward.

Libby Beatty, Chair
MBA Board of Directors

NEWSWORTHY

Chase Increases Lending to Small Businesses

Chase announced last month that it will increase lending to small businesses in 2010. While the $4 billion in additional credit will be available to qualified businesses with annual sales of less than $20 million, the majority of new loans will be targeted to companies with sales of less than $10 million.

In fact, Chase plans on hiring 325 small business bankers to assist them in reaching out to qualified businesses and providing these businesses with one-on-one financial advice.

Chase's other plans for small businesses involve granting second interviews on loan requests and hosting of webinars and town halls regarding small business credit.

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MARKETING

Rethink Your Reward and Review Programs

Customer rewards and reviews are great ways to maintain and promote your business, but repeated use of the same approach will often get you the same results. Spice things up and try expanding your techniques:

Rework Frequent Buyer Programs: Instead of rewarding your repeat customers with the same thing again and again, surprise them with something new. Instead of a simple discount, send them a gift of equal or greater value. Another approach is to send customers a free trial of a service/product. This will highlight crossover products/services while rewarding the customer's loyalty.

Exchange Reviews: Arrange an exchange with another website to review each other's products/services. Then each of you can post the positive reviews with links to one another's website.

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YOUR FINANCES

In Defense of Fraud

Protecting your business's bottom line is not only a matter of exploiting opportunities, but not getting exploited by opportunists. Here's how to protect yourself and your business from identity theft:

Sticky Fingers: Pickpockets can gain a wealth of information from your wallet and your handheld devices. Photocopy everything in your wallet so that you can react before damage is done. Use an access code on your devices to protect information, passwords and any private data that may put you and your business at risk.

Mailbox and Garbage: Your mailbox and your garbage bin are prime targets for data thieves as bills, correspondences and statements are full of personal data. A mailbox with a lock is a good deterrent. Shred sensitive documents before you toss or recycle them. Dumpster divers are more than happy to get stinky to collect your information.

Agency Assistance: Contact a credit reporting agency and have them put a fraud alert on your file. This will require lenders to ask for additional personal information when you - or someone posing as you - requests credit. The fraud alert will span all three major agencies. Make sure to find out the length of the alert as they can expire without warning.

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FOR THE HOME-BASED BIZ

Controlling Heating Costs at Home this Winter

Here are some easy ways to instantly reduce your heating expenses:

Thermostat: Each degree you lower your thermostat represents one to three percent off your heating bill. Try setting the thermostat to 60 degrees at bedtime. When you're out of the house try 55. Also, lower your water heater temperature to 115-120 degrees.

Exhaust Fans: Generally, exhaust fans pull warm air out of the house replacing it with cool air. Use these fans only when it's absolutely necessary.

Service Providers: Many heating companies provide annual checks and tune-ups for your heating system. General maintenance and calibration could save up to 10 percent of your current bill. Local utility companies may also offer free energy audits and devices to keep usage in check. These improvements may result in tax breaks and discounts on homeowners insurance policies.

Closed: The damper on your fireplace can create a draft and pull the warm air right out of the house. Make sure it's sealed tightly - and do the same for other areas of the house susceptible to outside colder temperatures, i.e. the attic, garage, etc.

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HUMAN RESOURCES

Office Savings: Make it More Like Home

Making your business space more like home is one way to cut costs. Here are some ways you and your employees can cut costs and make the office feel more like home:

Keeping Kitchen: Ask your employees to donate or share their spare mugs, plates or silverware for office use. BRIGHT IDEA: The money you save on disposables can help purchase food for employee meals. Keeping employees at the office increases productivity.

Household Chores: Take time to consider the abilities of your staff to make the most of their time and talent.

No Place like Home: If it's getting more difficult to pay the rent, consider allowing your employees to work from home so you can downsize office space.

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IT

The New Wave in Collaboration Software

Functioning in real-time, Google Wave will help small businesses share ideas and create new ones in a collaborative environment. Wave starts with a single idea that is sent to selected participants who then can add their input with text, photos, videos and more.

All participants can rewind the Wave to see who made what changes and suggestions. Because Google Wave functions in real-time, it will be easier to communicate and help you move quickly through any project.

The platform resembles an e-mail format showing who is signed on and what projects are pending. The software is currently in its trial phase, but you can request an invite here when it becomes available.

At the moment, Wave is planned to be presented as a free tool upon its official release.

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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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COMMENTARY

Cap and Trade...Welcome to the Big Leagues
By Stephen Markowitz

The term Cap and Trade has been prominent for some time now, and you need to understand that it puts you in the same boat as General Motors or PECO. Cap and Trade is an energy bill, a whopper of a bill that is guaranteed to increase your operating costs. All energy companies and large businesses will have to purchase credits from the government to offset the impact of gas emissions on the environment. The so-called control of the "greenhouse effect" will clearly impose another tax on you, courtesy of this Administration. Because once the big companies purchase credits from the government, to whom do you think they will pass along the cost? If you're at a poker game and you're not sure who the sucker is at the table…it's you.

Congress has estimated we will lose somewhere between one and a half to five million jobs under Cap and Trade. Big business will be hit hardest by the cost burden, and those expenses will directly increase the cost of goods and services they deliver to you.

The Obama Administration admits that energy bills will rise. By as much as 40 percent. Actually the term used by candidate Obama was "skyrocket" in a quote to the San Francisco Chronicle in 2008. Adding insult to injury, initially the credits (at least 80 percent of them) will be given rather than auctioned to big businesses that curry favor with the Administration by supporting this attack on the economy. They will still pass the cost represented by those credits to you.

This Administration has shown in the impractical manner in which health care has been rushed through Congress with bribes and threats, that the will of the majority of voters is not important once the election is over. That doesn't mean we give up our rights to speak out on issues that affect our ability to provide jobs and support families.

This should not be taken as an attempt to diminish the gravity of the problem of the devastation of the environment. As a member of Sierra Club, I am sensitive to all that we need to do to halt the destruction of the environment. But the solutions should not become a burden placed squarely on your backs while the big boys pick your pockets.

You should be educating yourself about Cap and Trade and letting your representatives in Washington know that you're fed up and not going to take it anymore. Since Congress estimates the impact on job loss, let's make some of them join that group. Elections are less than a year away, and now is the time to let them know you'll be at the poll.

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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.