WELCOME

I know of a company that has a bulletin board in their lobby with small, construction-paper flowers. On the flowers are employee pictures and brief descriptions of individual, work-time success stories written by happy customers.

I've noticed that people waiting in this lobby gravitate to the bulletin board and read all about the great employees in the company.

Think of the possibilities! Any company, small to large, can use this idea. And it's just one idea of many when thinking about testimonials. Here are a few tips for using testimonials in your business:

All employees should be asking for testimonials from customers. Then, pick one employee to collect and organize them for your company's website, brochure, and of course, the lobby's bulletin board.

Be sure your sales staff asks their customers for testimonials on a regular basis. These are the people that usually have a close relationship with customers.

Please don't use any made-up stories from fake customers. This is a quick way to send your company's reputation plummeting if the worst happens and you're found out.

It will probably be an annoying last step, but try to get written permission before using a testimonial.

Libby Beatty, Chair
MBA Board of Directors

NEWSWORTHY

New Tax Incentives for Small Biz

A $17.6 billion jobs bill, with big tax incentives for small businesses, was recently signed into law by President Obama. The two tax breaks aimed at small businesses are for creating jobs for previously unemployed persons.

One of the tax breaks will make the business exempt from paying Social Security payroll taxes on that employee. Each employee that remains with the business for a full year makes that business eligible to collect $1,000 on each employee on their 2011 tax return, or 6.2 percent of the wages paid to each employee in 2010. There is no restriction on the number of claims.

The bill also extends the provision of the 2008 stimulus bill allowing Section 179 deductions on business assets like vehicles and equipment to be deducted for up to $250,000 of the business's capital expenditures.

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MARKETING

Reputation Over Advertising

A popular business concept is that in order to effectively build your brand you have to advertise to build "awareness." Another idea is that reputation is more powerful than advertising. To help you decide where to focus your energies consider this…Are you more likely to buy because of a paid advertisement or the testimony of a person who has experienced the product first hand?

Sometimes it's just wiser to put your money into great service and a great product and let your reputation be your advertising. Leave the boasting on billboards for another day.

Want ideas on how to build your reputation? Go to www.gitomer.com.

Get Referrals Without Asking for Them

When you approach a client for a referral it can give them the impression that you only care about making the next sale. But by taking your time and acting tactfully, you can nourish the original relationship and get a new lead.

Try asking for an introduction instead of a referral. An introduction helps to remove the pressure of a referral, because a referral request assumes that the client is pleased enough with your service to promote it. This assumption coupled with the pressure of the request can turn a client into a stranger.

By instead asking the client to introduce you to someone, you help to remove the pressure on them and the new prospect can make a decision about you without feeling that they are being set up.

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YOUR FINANCES

Put Aside Time to Save

Whether it's planning ahead or simply planning better - putting aside time to find savings should be a part of your work week. Here are some suggestions to get you thinking about where you can find savings:

Don't Wait to Mail: By planning ahead as opposed to mailing last minute, you can send letters, documents and packages through the post office and cut your costs. That means filling and sending orders or important documents should go to the top of your daily
to-do list.

Bargains on Regular Purchases: Put aside time to make a list of your monthly purchases. Research those items online to see if you can find coupons, sales or better deals from new vendors or stores. You can assign an employee to check the prices monthly to stay on top of the savings.

Product Rebates: You may figure that the money isn't worth the time to fill out a rebate, but if you have an employee or assistant to tend to the task, the savings will add up quickly. High-priced office equipment like printers, scanners and computer hardware often have sizeable rebates so be sure to check for them upon purchasing new equipment.

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FOR THE HOME-BASED BIZ

Supplementing Your Home Business

Working from home gives you the flexibility to change the face of your business in order to support it during slumps.

Here are some ways you can supplement your primary home business by temporarily branching out:

Pet Sitting: Start a part-time, local pet sitting and walking service. Clients will be happy that you are right in their neighborhood.

Coaching/Consulting: Use your expertise to fashion yourself as a part-time coach or consultant. Your primary business will give you the clout, the credentials and the experience to offer your expertise to new clients.

Debt Collection: Start by researching the laws of debt collection, noting that there are different regulations for home-based collectors. With a pool of partnering businesses to offer your new trade and the experience you'll gain to help keep your collections in order, your time and effort will surely pay off.

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HUMAN RESOURCES

Moody Employees Work to your Advantage

Researchers have found that the conflicting moods of employees can actually be an advantage. The findings show
that when good moods are paired with bad moods, they generate creativity and spark innovation. The key to directing employee
energy though, is the job of the manager.

Here are some helpful tips to turn employees' dispositions into creativity:

Provide Feedback: Conversations should be geared towards learning and improving allowing happy workers to expand and challenging moody workers to create solutions.

Establish Trust: Motivation geared towards confidence allows bad moods to accept negative feedback as a precursor of positive change and success.

Share Experience: Giving employees insight into how you make decisions inspires them to take more risks and utilize creativity.

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IT

Feed Off the Competition

News sources and blogs are invaluable outlets for staying current on market trends up-to-date on your competition. And by using RSS feeds, you can track specific types of news and information that's pertinent to your business. Here's a list of RSS sites that will help you organize and merge your research into one spot for free:

Bloglines.com: This site will track your RSS feeds and organize the articles for a better overview of your research materials. There are various options for viewing and putting together your content, but format is simple and effective.

Pageflakes.com: This site has thousands of widgets dubbed "flakes" that connect you to various news and networking sources. With so many options, your material can be organized into columns. You can then choose from multiple templates to customize your page.

Chi.mp: This service provides you with a free domain in ".mp" space that keeps you connected to all your blogs, news and social networking spots in one place.

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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.

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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.