 WELCOME
Regardless of the status of our nation's economy, small businesses and their strategies for success seem to remain the same. Or similar anyway.
Start with your existing customers. If you're not new to all this, then you already have a list. This all-important list of detailed customer information is your stepping stone to more business. Studies have shown that a higher percentage of sales come from this database. So, maintaining a link, i.e. customer retention, is a must. Be sure you're sending promotions, newsletters, coupons - either by e-mail or snail - to keep your customers thinking about you and what you are selling.
Second, new customers. The old stand-by methods of promotion will still work (like improving your ads and sell sheets), but be sure to do what your competion is doing: adwords, social media and ezine advertising. And check out the free open house MBA's Delaware Business Connections Group is holding. If you're close to Hockessin, then rsvp today. The BCG groups are an amazing way to prospect for leads. Each group limits their membership to just one person per trade so all leads will go to the proper person. Let a BCG be yet another stepping stone to more business and more success.
Libby Beatty, Chair
MBA Board of Directors
NEWSWORTHY
Appliance Rebate Program Gives Back
April 21st marked the start of Pennsylvania's federal stimulus-funded  appliance rebate program. Using $11 million from the American Recovery and Reinvestment Act (ARRA), the program
will reward households rebates between $100-$500 for purchasing Energy
Star-rated non-electric water heaters, furnaces and boilers.
The idea is that cutting heating costs, which compose more than half of an average household's power consumption, will lead to the most significant reduction of state energy use.
COBRA Continuation Coverage Assistance under the American Recovery and Reinvestment Act of 2009 (ARRA)
COBRA Subsidy Eligibility Period Extended Through May 31, 2010
On April 15, 2010, President Obama signed legislation that extends the deadline for involuntary-terminated covered employees to qualify for the COBRA premium subsidy. Under the law, as amended, workers now involuntary-terminated between September 1, 2008, and May 31, 2010, may be eligible for a 65 percent subsidy of their COBRA premiums for up to 15 months. The Continuing Extension Act of 2010 can be here.
In complying with COBRA's notification requirements, employers and plan administrators should use Model Notices with accurate and up-to-date information regarding the COBRA premium reduction, including the new May 31, 2010 deadline for electing coverage. The model notices with the May 31, 2010 deadline will be available here.
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MARKETING
Mainstream Marketing Makeover
In order to breathe new life into your marketing campaign, try taking a fresh look at what you already do and go from there - here are some ideas:
Treat the Press: This doesn't mean taking them to lunch - it means giving them what they want. Reporters want stories and announcements that are unique, entertaining and controversial. To get noticed in a crowd you have to turn the other way!
Talk Blog, Target Blog: Participating in the same blogs that your target customers do is a good start, but there's more opportunity there. Start by contacting the blog's creator and ask if they would like to receive samples of your product. It can then be reviewed and discussed on the blog.
Time for an Intern: If time and money are true issues for you, get an intern to help you market. Contact local business schools or departments and offer an internship. Students are eager to get experience and course credit, plus they are often learning about the best practices in marketing tactics.
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YOUR FINANCES
Reinvest in Renegotiating
Renegotiating business terms with customers, partners and vendors takes  gusto and initiative. But as the flailing economy continues to affect just about everyone, you may find more flexibility in negotiating.
Here are some approaches:
Clients: Instead of just increasing rates, tyr adding more value to your services. This could mean extending warrantees or increasing levels of service. Implementing customer-incentive programs that increase in value over time is another way to bolster your business.
Partners/Employees: Pay cuts are largely unpopular in theory, but they can be replaced with stock, discounts or additional perks. Partners have as much to lose as you do, so work in unison with them to create temporary terms that result in a larger payoff over time.
Vendor/Landlords: When you can't buy your products anymore, wholesalers and vendors feel the pinch too, so try to renegotiate credit terms or better deals on bulk orders, etc. The same goes for leased space. Try to create new lease rates with cheaper payments for a longer term.
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FOR THE HOME-BASED BIZ
There's No Place like Home…for Employees?
There may come a time when your home business needs to take on  employees, but before you decide to invite a new member into your business family, make sure you consider the house rules.
Here are some things to consider before you hire:
- Workspace: Do you have room? It's important for an employee to feel like there's room to work without feeling back-to-back with their boss. If you don't have the luxury of extra space, be sure to let the employee know in the interview to gauge their ability to cope. Also consider how comfortable you are having an employee use your family's bathroom.
- Entrance/Exit: Having a route to and from the office space in your house is helpful for establishing a professional atmosphere. This helps keeps a realistic division between home and work life.
- Opinions are Two-Way Streets: Be sure your family members are comfortable with a stranger in the house. Also be sure to ask prospective employees how they feel about working in a home office. Use full disclosure when discussing the specifics of home/office protocol and give scenarios during the interview to gauge how applicants react to certain situations.
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HUMAN RESOURCES
Getting Peak Performance from Employees
The name of the game is change.
If you're hoping to get  more out of your workforce, let them know that new ways of thinking lead to new forms of success.
Here are methods for rousing and restructuring your workforce.
Reconsider your company vision.
Create a message of action using the future to help clarify the present and make it accessible to everyone - no matter their rank or office status.
Devote more time to managing your people. By scheduling regular staff meetings you can anticipate future problems and gain broader understanding of your company's human resource issues. Performance reviews conducted by superiors and peers can also initiate change.
Ask the employees to review the company. This is a great opportunity to poll your employees to see if management is working efficiently.
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IT
Log Me In
 For collaboration and connectivity, Log Me In offers solutions for doing business from a distance. Among their most enticing offerings is Log Me In Express, allowing you to share your computer screen with another computer almost instantly. Simply download the applet and share your code with the desired participant who then can log on and see your screen from anywhere.
Log Me In Free is another offering that gives you access to your own computer from a web browser from anywhere. This means you can access any of your software or files from any computer that has an Internet connection. Both programs are currently free to use. Log Me In does offer other pay services to enhance your connectivity.
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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
Hockessin Business Connections Group Open House
Exchanging pre-qualified leads in a group setting is just about the best way to gain new customers for your small business.
Come see what Midlantic Business Alliance's Business Connections Groups are all about by attending this FREE event.
Wednesday, May 12, 2010
7 AM to 8:30 AM
Cokesbury Village
726 Loveville Road
Hockessin, Delaware
For more information or to reserve your spot, call Hockessin group member Michael Mele at (302) 731-2131 before May 10th.
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.
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