 WELCOME
Getting attention from the media is all about consistency, your unique message and distributing that message. But how about getting the media to give you a call and ask for information?
It's easy. Spread the word about your specific talent or expertise through seminars, articles and announcements to the press. For instance, if you are well-versed on the topic of computer information technology, talk to your business association about doing a seminar on identity theft. The pre-event publicity alone will put your name one step ahead of your competition.
Speaking of the media - As a community service, MBA is proud to announce the second workshop in the series, "Fired…What Next." Part II of this free series is designed to help small businesses and start-ups with the most essential elements of starting, maintaining and succeeding. This second session will deal with marketing without money…or maybe just a little.
Our presenters are well-known and accomplished:
Paige Miller, president of MultiPlanet Marketing and president of the Philadelphia Chapter of the National Association of Women Business Owners.
Ken Abrams, a Master Certified Coach and CEO of TOPcoach International, LLC.
Call me at (610) 604-4994 to reserve your space at this special event.
More information can be found on MBA's event calendar.
Libby Beatty, Chair
MBA Board of Directors
NEWSWORTHY
Important Upcoming Insurance Deadline
Midlantic Business Alliance's insurance administrator, The Administrators, Inc. (TAI), has asked us to notify our current members of the following insurance deadlines and updates that may affect your business.
Downgrade Freeze
The Administrators, Inc. advises their Blue Cross health insurance subscribers of the following:
On July 1 the insurer customarily puts a hold on all downgrades for companies whose premium rates renew on January 1, 2011.
TAI strongly recommends that any group currently enrolled in a traditional prescription plan (i.e. - $5/10, $10/20) consider switching to a formulary drug plan - 3 tier. Groups can potentially save hundreds of dollars per month just by changing the Rx portion of their current medical plan.
If you are considering a downgrade for an effective date of July 1, the carrier requires that product change forms be submitted prior to June 1, 2010. To allow time for your information to be reviewed and processed, the deadline to receive these forms at TAI's office is 12:00 (noon) on Friday, May 14, 2010.
Please be aware, requests received after May 17 to downgrade Blue Cross coverage cannot be processed until an effective date of January 1, 2011.
TAI Customer Service Licensed Benefit Specialists are available at (800) 634-4428 to discuss alternative options.
PA Commuters Brace for Fee Increases
SEPTA has a new proposal on the table that is asking for a system-wide fare increase - roughly six percent, to start July 1.
The new fare would affect tokens,  transfers and weekly/monthly transit passes while the base rate of $2 would remain the same. The proposed rate increase is part of the Pennsylvania Transportation and Reform Commission's recommended periodic fare increases which SEPTA plans to implement every three or four years.
SEPTA understands that this is unwelcome news to commuters, but they point out that other nearby states are asking to raise fares by 25 percent.
 BACK TO TOP
MARKETING
Follow Through with a Follow-Up
People fail to follow-up after meetings, sales and discussions for various reasons. Some are too busy, some simply forget and some just aren't ready to do business. Here's how to organize your follow-ups  to turn prospects into customers and keep customers coming back:
Your Method: Collect all pertinent contact information or a business card. Ask the prospect if they prefer e-mail, phone call or a face-to-face meeting. Prepare for your scheduled follow-up by having your promotions and product/service specs at hand.
Call Frequency: If the opportunity to schedule a call was missed or the call wasn't answered, continue to follow through. Some people are uncomfortable to be perceived as pushy, but you are doing your potential customer a service by calling with an opportunity or suggestion. One well-focused call a week per contact is fine.
And Again: Following-up after making a sale is another good habit. Use the opportunity to confirm delivery of your product/service, ask about satisfaction and see if they have any questions.
BACK TO TOP
YOUR FINANCES
Collection Tips to Spur Cash Flow
Late-paying customers detract from your ability to sustain a cash flow.  The following suggestions will make sure that you are doing everything in your power to get paid ASAP:
Bill & Invoice on Time: Getting paid on time means billing on time. This means that your invoices need to be dated and sent as soon as possible. There are many e-mail invoicing software packages available to help you get the jump on your billing routine.
Discounts for Early Payments: An analysis of your losses from late-paying customers may reveal that you would benefit from giving early-paying customers a discount. The discount may also persuade slow movers to pick up the pace. Offer this option for a limited time to decide if it's worth continuing.
Consequences: Renegotiate your contract with late payers, requiring them to make down payments or pay a retainer for continued service. You can also penalize them by making continued service available only by C.O.D.
BACK TO TOP
FOR THE HOME-BASED BIZ
The Surge: The Hidden Threat to Home-Business Hardware
A power surge is a sudden rise or spike in electrical current that can destroy your computer's business data and hardware. Home businesses carry a larger risk of power surges because of cable TV, satellite  dishes and infrastructures around private residences.
Surge protectors/power strips offer an inexpensive means of protection - but they're not all created equal. Here's what you need to know before you buy:
Response Time: A good response time carries a rating of 10 nanoseconds or less.
Joule Rating: A reliable protector can absorb a minimum of 400 joules.
Indicator Light: Be sure that the protector has an indicator light that shows when it is actively protecting or "grounding" and when it's working improperly.
Recommended Options: Circuit breakers are a great feature that will stop the flow of electricity if there is an overload. Various outlets are available that can serve multiple appliances, and there are protectors that also have jacks for cable and phone lines.
BACK TO TOP
HUMAN RESOURCES
Find Savings Tracking Vehicles with GPS
Small businesses with one or more vehicles bear a significant  expense, especially if the drivers are doing their own errands or taking the long route. If you feel your business is susceptible, using a GPS to track your vehicles is well worth the cost and time.
Many GPS units track and create a "history" of vehicle movements that easily allows you to see where the vehicle went and when. Aside from exposing abusive employee practices you may simply find smarter and shorter routes to plan and execute your vehicle trips.
Prices vary for GPS units and you could probably find good used units online. Other options include renting a unit or using an online tracking service like Geosavi. Act now, as fuel prices are expected to spike this summer.
BACK TO TOP
IT
Tech Tools
The following tech tools can help you plan your next  business trip, get big results on presentations and help you reevaluate your pay-per-click approach:
Key Compete: This service lets you see what other companies are using as their keywords to optimize search results. The free trial gives you five sample search results.
Big Posters: This Internet company offers affordable rates for custom poster designs. The work includes laminating and mounting too.
Trip It: This free travel tool is really practical. Simply forward your confirmations for flights, hotels, etc. to plans@tripit.com, and you will receive an e-mail which includes a one-page travel itinerary and your log-in data for your new account. Now you can view your travel itinerary online from anywhere.
BACK TO TOP
MEMBER NEWS
MBA member John Messner, president of Aim Realty & Appraisals reports his office performed many 2009 tax/re-assessment appeal appraisals in Montgomery, Delaware and Chester Counties with great success. Should you or your clients need a tax/re-assessment appeal appraisal or an estate appraisal, please contact John at (610) 853-6636.
BACK TO TOP
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.
BACK TO TOP
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.
|
