 WELCOME
How Low Can You Go? Or How High Is the Sky?
Pricing your product/service can be a tricky process, especially when the economy is what it is, but think carefully before raising or lowering.
Raising your prices can establish value. Think about purchases that you have made – doesn’t it seem the higher priced article surely must be better? And maybe it is. Even though you will probably lose some customers, they will be replaced by those who see the value in what you are selling.
Lowering your prices works for the customer who is comparing your prices to another company’s prices. Now you will be perceived as the bargain. As long as there’s still a profit after testing new pricing schemes, this may work well for both you and your customer.
Libby Beatty, Chair
MBA Board of Directors
NEWSWORTHY
Is Government Holding Back Your Business?
U.S. Congressman Patrick Meehan (PA-07), member of the House  Committee on Oversight and Government Reform, has released a new video announcing a website dedicated to listening to the personal stories of constituents, Pennsylvanians, and nationwide job creators about how government is impacting job creation.
Businesses and employees in the 7th District are asked to visit /www.meehan.house.gov or www.americanjobcreators.com where they can complete a form and identify federal government regulations that impede the growth and success of their business.
Congressman Meehan will use the information gained through the website to guide the work of the Oversight and Government Reform Committee, which is responsible for effective oversight over the federal government. CLICK HERE to Watch Video “Is Government Holding Back Your Business?”
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INSURANCE
The following article has been provided by The Administrators, Inc., Midlantic Business Alliance’s endorsed insurance administrator.
Easy Ways to Add Steps to Your Day
Independence Blue Cross suggests that exercising doesn’t have to be a rigid, time-consuming activity. In fact, it shouldn’t be thought of in terms of one activity. That is why we like the  10,000-a-day concept so much – walking your dog, walking with your child to the park, walking to and from the parking lot, taking the stairs instead of the elevator can all be parts of a daily exercise routine that together add up to 10,000 steps.
The challenge is to think creatively about ways you might add “steps” to your day. Here are just a few ideas:
- Take the stairs as often as possible
- Park several blocks from your destination or park at the rear of the parking lot
- Walk the last few blocks instead of riding the bus all the way to work
- Get off the elevator below your destination and walk a couple of flights of stairs
- Park at the opposite end of the mall from where you need to shop
- Walk to do shopping or other errands.
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MARKETING
Piggyback Popular Summer Businesses for a Marketing Alliance
As outdoor and summer-strong businesses prepare for their busy season, now is the time to suggest a summer marketing alliance. By either splitting the cost of new ad pieces or simply supporting one another’s efforts to market, you can increase your reach twofold, at least. Here are suggestions  for a possible business partner:
Landscaping & Home Care Businesses: These types of businesses typically have lots of extra space on their equipment tows or trucks. They may include pool care, lawn car, or even home renovation. Consider becoming an affiliate with one or all of these businesses in order to have your ad towed and parked around the neighborhoods of your potential customers.
Pet and House Sitting Businesses: Many people leave their homes and pets in the hands of professional businesses when they go on summer vacations. These businesses have access to the inside of potential clients’ homes. Perhaps they could place your marketing materials with their bill and coupon receipt.
Resorts and Sports: Summer is a big travel season so resorts, hotels and B&Bs are great places to get your materials in the face of vacationers and travelers as part of complimentary guest pamphlets. Likewise, summer sports and outdoor supply and adventure companies are good opportunities to sponsor teams, contests and events. The New News Source
The news media is getting more segmented as smaller online news services work to deliver pertinent news to smaller, local audiences. This new “hyper local” trend is giving small businesses a new format to increase their marketing efforts. Here are a couple sites that will help expand your local reach:
Everyblock: This site was just acquired by MSNBC and is among the most established local news sources. You can search for local news by a variety of factors including neighborhood, zip code or even school district.
Patch: This local news source is expanding from NYC outwards at a healthy pace, meaning it should reach the greater Philadelphia region in no time. Patch functions as an aggregate local news engine that draws from local bloggers and news sources.
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YOUR FINANCES
Negotiating with Your Payroll Company
In these tight fiscal times, negotiating rates should be a priority, so why not start with a large expense like payroll. Many small businesses outsource payroll to avoid errors that can result in hefty fines, but just because you outsource payroll doesn’t mean that you won’t have additional expenses. Here are some tips to help you negotiate the best rates for your business and avoid getting stung by extra fees:
Membership Privileges: Do you belong to a business group or trade association? These groups will often go to bat for you to negotiate discounted rates. MBA’s upcoming payroll processing program is an example.
Restructure: If your payroll company offers rate packages or sliding fee structures, you can renegotiate instead of paying per service. Or, if you already have a package, try to renegotiate features you can do without.
Budgeting for Savings
Tough economic conditions cause us to reevaluate the way we spend. The benefit of challenging your spending habits is that you can find new ways to not only save now, but save for the long term. Here are some tips:
- Needs vs. Wants: Make a list of things you’re buying, both business and personal, and divide them into two columns, essential and non-essential.
 Add up the cost of your non-essentials to see what you’re spending, and then come up with a list of ideas of how to reinvest that money back into your business.
- Membership Sharing: Whether its movie rentals or gym memberships you can reduce the cost by sharing. And, you can share movie memberships like Netflix with your friends by just sharing your password. If you can’t share a gym pass, then you and a friend can create an exercise regiment to do at home or local park.
- Extending Payments: If you finish paying off your car or your home, you can keep paying into a savings account to keep the saving habit going strong. A home or car maintenance account will certainly come in handy down the line. Every penny counts.
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FOR THE HOME-BASED BIZ
A Hub for Small Biz Inspiration
Business on Main is MSN’s online resource for entrepreneurial advice and business tools. It is also a small business community for business people with common challenges to share their stories and advice. When you join the community you can create a business profile to network with other owners to find services and to promote your own business.
The site also offers videos and articles, but one feature that stands out is the Answer Source. This  is a tab to submit a specific question about your business. The questions are then answered by MSN’s experts and the Business on Main community. You will also be referred to the questions answered database to find out how similar questions have been answered.
It’s free to join, so check it out.
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HUMAN RESOURCES
Savings for Entrepreneurs On-the-Go
Whether you’re a contractor moving from client to client or a business that offers delivery service, using your transit time wisely can help you find savings and save time. Here’s how:
To Do List: Creating a list of items you need for upcoming jobs helps you save time and cut fuel costs by planning these errands into your daily rounds. Map Quest and Gasbuddy can be used to find the cheapest fuel  prices on your route.
Mistake List: Since time is money for contractors and delivery services it’s important to closely track how you spend your time. Excessive time finding a client’s home/office or preparing for a job wastes valuable time. A list will help you create new routines that save time and money.
On Site Suggestions: Take pictures of the job site so you can plan the job accordingly. Photos are also useful for promoting your work. And seek referrals when closing a job with satisfied customers.
Ways to Be Accountable
By: Ken Abrams
Unfortunately, it’s all too easy to weasel out of a commitment that we make only to ourselves. Sometimes all it takes is a promise to someone else to spur us to live up to our commitments. Here are 10 ways to hold yourself accountable:
• Ask a friend or loved one to support your efforts.
• Have an accountability partner. Perhaps someone you see at trainings or a work buddy.
• Set SMART goals. Then measure your results against them.
• Reward yourself. Make it really fun or pleasurable to achieve what you commit to!
• Work with a coach. A coach will remind you of your vision and commitments, and help you explore your roadblocks to action.
• Create or join a “nag” group or a “dream circle”—any group of people you report to regularly.
• Keep accurate records and have others review them. A bookkeeper could keep you accountable for producing monthly financials.
• Put money on it. You’ll get really serious!
• Publicly declare. Now your public reputation is riding on your word.
• Establish heinous consequences. Donate to an organization whose activities you abhor if you do NOT follow through on your commitment.
Ken Abrams, MCC, can be reached at (610) 240-4857. His web address is www.kenabrams.com
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IT
A Tip from the Google Guru
Getting your company to the top of a Google search may seem too good to be true, but with some tips from the SEO (search engine optimization) guru Wil Reynolds of SEER Interactive, you could find your business near the top of the page. Reynolds has made a $2 million-a-year business out of getting his clients prime spots on Google search engines. To get some insights into his genius go to YouTube to view the lectures and in-depth tutorials. Reynolds is known for his generosity of business information so these spots are not to be missed.
Office Tools
Here are some of the more popular new office tools that help you run your business more efficiently and help to cut costs:
Dymo File: This software was designed to help you clear the clutter of towers of paper and transform them into digital copies to be stored electronically. This system uses bar codes that are applied to your papers and then scanned onto your computer.
Mimio Interactive: This portable device can turn a dry erase board into an interactive presentation platform. The device works with almost any projector to turn your board into a touch screen that can digitally capture any notes you create. Fraud Prevention
The unfortunate truth is that scammers are smart, and they know exactly  what they are doing. So you need to know what to do to best avoid being scammed. Start by educating yourself. Use the following resources to validate the credibility of any company you find questionable:
Federal Trade Commission: The Federal Trade Commission’s website allows you to check the current status of a company’s license.
Better Business Bureau: This site gives you access to any public complaints that have been filed against a business.
The Ripoff Report: This site is full of personal stories of businesses who claim to have been done wrong. You can post your own complaints or learn about others’ mistakes.
Scambusters: This site specializes in Internet scams and identity theft.
Fraud.org: This site, run by the National Consumers League, tells you about the top 10 telemarketing and Internet fraud scams and allows you to share your experience.
IRS Advice on Avoiding Tax Scams: This site educates the public to recognize and avoid tax schemes, as well as offering options for reporting them.
U.S. Patent and Trademark Office: Learn about invention promotion scams and how to properly and safely patent and protect your ideas and inventions. Also learn how to properly file a complaint.
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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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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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