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May 09, 2008

Easing the Pain at the Pump

When I used to tell people about my 80-mile round-trip commute to work and back, the typical response was that the traffic must drive me crazy (it does.) More recently, though, comments have turned to gas prices. While I can happily report that my little compact gets an average of 37 mpg, allowing me to fill up less frequently than some folks I know who live in town, it still hurts to go to the pump.

But no matter what—or how much—you drive, skyrocketing gas prices are affecting us all. And since it's not feasible for all of us to ditch our cars for bikes, today's Tools and Tips article on NFIB.com offers some hints on how to get the most out of your gas tank, including:

  • Check your tires. Over- or under-inflating can greatly reduce your gas mileage and the life of your tires.

  • Clean out the trunk. The FTC says that even an extra 100 pounds can drag your gas mileage down by 2 percent.

  • Park in the shade. Some estimates say that running the air conditioner at full blast just to cool a heated car uses as much at 40 cents out of a gallon of gas.

  • Watch your speed and accelerate with care. Be mindful of the gas you use when you put the pedal to the metal a little too hard. Even using your cruise control to help keep your speed constant while driving on the highway will keep your engine from needless revving.

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May 07, 2008

Rising Costs Means Raising Prices Plus Some

My neighborhood gas station has stopped posting the price of gas. Instead, the sign says:

Regular: An arm
Mid-grade: Both legs
Premium: First born

Even if you don't run a delivery business, by now you've probably felt the pressure at the pump. But have you figured out how to offset the increase in prices? Wilton, Conn.-based Wave Hill Bakers is dealing with the rising cost of fuel—and another commodity that's central to their business: wheat flour.

Sure, they've raised prices (a little) to compensate for the increased costs, but it doesn't end there, details this Wall Street Journal article.

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May 06, 2008

Running a Seasonal Business

With spring temperatures setting in, owners of water parks, marinas, day camps and other summer businesses are preparing for their peak season. But what about owners of ski resorts and other businesses that make their money off cold temperatures? According to this BusinessWeek.com article, the off season is the perfect time to strategize, develop marketing plans and lay the foundation for when things get crazy.

Not sure where to start? Check out this MyBusiness article about Scott Ralls. The owner of Southwoods Camp in Paradox, N.Y., used the off season to maximize his camp facility, adding sports facilities, cabins and a media center. Ralls quickly realized that he could boost his off-season business by renting the camp for reunions, retreats and weddings.

For more information about running a seasonal business, check out the tips in this BusinessWeek.com article.

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May 05, 2008

How to Sell an Unpopular Product

Business is easy (and even fun) when you have a product or service that everyone wants. But what happens when what you're selling fades in popularity? How do you market products that are no longer popular? That's the focus of this Knowledge@Wharton article which chronicles the trials of a Hummer dealership as well some real estate investors in down markets.

Even if your product isn't considered unpopular, some business owners must overcome consumers' hesitation to buy a new product when the old one they have still works. If that's the case, offering trade-in discounts are a good idea, according to some of these examples.

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April 30, 2008

Same Sauce, Different Name: When a Business Copies Your Idea

Where I live, we have at least two restaurants that cater to the chicken-fingers-are-my-favorite-food set. And yes, I frequent both of them—frequently.

Even though I've been going to both restaurants for years, I just noticed—this week, in fact—that they're basically the same restaurant, and, (here's the kicker), they both have the exact same "signature" dipping sauce. Of course, the sauces are called completely different things—probably to make people like me think they're completely different sauces. But they're not; they're exactly the same.

Which begs the question: Should someone get in trouble over this?

Geoff Williams tackles this subject in the current issue of MyBusiness in an article called "Coping With the Copycats." A recent New York Times article also covered this subject.

I guess it's a good thing we'll be talking about patents, trademarks and copyrights in the next issue of MyBusiness.

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April 29, 2008

How to "Green" Your Business

You might be tired of hearing constant talk about global warming, buying a hybrid and anything else eco-friendly, but that doesn't mean the green trend is going away any time soon. In fact, America's emphasis on all things green can help your small business weather the current economic downturn--but only if you're willing to take steps to create a more environmental business.

Think "greening" your business sounds too difficult? Think again. According to this USA Today columnist, all it takes is a few easy steps. For example, shutting down computers, printers, fax machines and other electronic office equipment at the end of day can drastically cut your energy consumption--and your electric bill. Ready to take on a greener challenge? The market for green products is exploding, making it the perfect time for your business to start selling an environmental product or service.

The bottom line is this: Now is the perfect time to make money by saving the planet. Check out the column for more ways to make your enterprise--and your bottom line--a little greener.

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April 28, 2008

Sell Value When Consumer Spending Is Down

My grandmother is always looking for value. In fact, she drives about 60 miles round trip to grocery shop at the nearest commissary because, as she claims, their bread is a good 50 cents less than what she'd pay at her local store. Value appeals to my grandmother--and to most every other consumer as well.

When the economy tightens and consumer spending slows, emphasizing value is a good way to boost sales, according to this article in The Los Angeles Times. Paying attention to good service and throwing in some freebies helps, too. "When people are watching every penny, they want excellent customer service," says Sam Herskowitz, president of franchise retailer Sterling Optical. Good news for small businesses which are always able to top big chains in providing great service.

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April 25, 2008

The Price of Immigration Rules

Unless you live in Timbuktu, you've probably heard about the government's crackdown on the hiring of illegal immigrants in U.S. businesses.

The latest effort in this direction is the Department of Homeland Security's proposed no-match rule, which would require businesses to fire employees if there isn't a match between their name and Social Security number. After the rule was challenged in federal court, the government revised the proposal to offer a safe-harbor to businesses that follow the procedures.

So, what's all this legislation costing employers? A U.S. News & World Report brief points to a Chamber of Commerce study for that answer. In the study, a former Office of Management Budget economist estimates that these proposed rules could cost businesses an estimated 1 billion a year.

To learn more about how immigration affects your business or how you can get involved in the debate, visit the immigration issues section of www.NFIB.com.

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April 23, 2008

Tame Your Inbox Once and For All

I have a coworker who doesn't leave for the day until her inbox is empty. Me, on the other hand? I once was unable to access my inbox from a Web-based program because it was simply too large. And by too large, I mean it had 12,000+ e-mails in it.

Today—after spending a few hours purging and filing away those thousands of e-mails that are no longer relevant but I just couldn't bear to delete—my inbox has 654 messages, which by some people's standards is still probably too much, but it works for me.

I'm sure after reading this week's Steve Strauss column in USA Today, I'll be motivated to clear it out even more. He's got some great tips on taming "the beast."

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April 22, 2008

Celebrating Small Business

This week is National Small Business week, and that means it's time to celebrate America's job creators. To highlight the importance of the small business sector in America, the NFIB Research Foundation compiled a list of facts and figures that indicate exactly how much small businesses have done for their communities, employees and local economies. Here are a few highlights:

  • 91 percent of small business owners contributed to their community in the last year through volunteering, in-kind contributions, and/or direct cash donations. About 41 percent contributed all three ways.
  • Small firms provide the first job for most entrants to the labor force. Many of the skills learned in these first jobs, such as showing up on time, learning respect for owners and customers, and learning how to get along with co-workers, last a lifetime.
  • Small businesses have developed a significant number of this nation's most important inventions and innovations, such as heart valves and the airplane. Small firms are twice as innovative per employee as larger firms.

To view the complete report, check out this article in the "Issues in the News" section on NFIB.com--and don't forget to thank a small business owner this week.

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April 21, 2008

Plan Flights to Avoid Delays

Flight delays are the bane of any business traveler's existence. It's bad enough to be stuck when you're on vacation with family or friends. But when you've been in an all-day meeting and you're just trying to make it home in time for your child's t-ball game, sitting in the airport with other tired travelers is the last thing you want to do. As summer approaches, flight delays only seem to get worse. But now there's a new site that can help you avoid delays. Delaycast uses tools to predict the best days, times and airlines to choose for a trip, based on your airport preference. Right now the site includes the top 60 U.S. airports and 11 airlines.

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April 18, 2008

The Scoop on Social Networking Sites for Businesses

Do you have a MySpace, Facebook or LinkedIn page for your business? More importantly, should you? That's the question explored by Deborah Brown in a recent Small Business Trends blog post. As more businesses look for ways to build their brand by interacting with customers online, Brown examines the pros and cons of four common social networking sites for businesses: Facebook, LinkedIn, Twitter and Squidoo. A few highlights:

Facebook: Creating a Facebook "fan" page for your business can create a buzz, provided you know how to use it. This means offering relevant information, special updates and useful applications as well as a place where fans can connect with others like them.
Twitter: This is quickly becoming a source that reporters and industry insiders are turning to for the most up-to-date news of the day.
LinkedIn: This is a great way to connect with colleagues, and the underused "recommendation" section can shed a positive light on your company and the work you do.
Squidoo: Turns the spotlight on your company through posting of links, books, recommendations and more.

Whatever social networking site you prefer, the benefits of using one can be boiled down to this, says Jon Rognerud, a technology expert mentioned in the article. It's really just like having a conversation with your neighbor across the backyard fence—only with a technological twist, he explains.

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April 17, 2008

What to Consider When Outsourcing IT

If you prefer not to handle your small business' IT needs in-house but aren't sure what steps to take when hiring an outside company, this article from The Wall Street Journal offers some great advice, including:

  • Have an exit strategy. Think through what will happen in the event things don't work out.

  • Meet the account team. Meet the account employees in person and find out about their skills, expertise in your industry and comfort with the technical environment they'll be working in.

  • Find out how your data will be protected. Learn whether a vendor may expose customer data or your firm's intellectual property to another vendor, such as one outside the U.S. that may not have the level of security that you would want.

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April 16, 2008

Get Creative When Workplace Problems Arise

OK, pop quiz time.

You move your business across town and some of your employees start to complain of a long commute. Do you…

a. Start looking for new employees.
b. Listen to their complaints and work with them on flexible schedules and telecommuting options.
c. Listen to their concerns and then buy them all cars!

If I were a business owner, I'd probably pick "b," but if I were the owner of Jacksonville, Fla.-based Verv, the correct answer would be "c."

That's right, two Verv employees were given cars after the company relocated, and it's not that crazy of an idea, according to this New York Times article. There's value to being flexible when solving workplace problems. Flexibility is the beauty of working in a small business, after all.

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April 15, 2008

The Key to Successful Networking

You know the drill: You're enjoying a wedding reception for a close friend and before you know it, some overzealous business owner has you cornered by the cake, trying to force his business card into your hand. Networking is necessary for running a successful business, but if you're the person cornering someone else by the cake, you might want to rethink your strategy.

So how do you know the proper etiquette for networking at social events? It's all about balance, says Maggie Flynn, author of this recent Tools and Tips article on NFIB.com. "If the other person seems more interested in talking about the friends you have in common or other socially-centered topics, don't try to keep turning the conversation back to business," she continues. "Just enjoy the fact that you're chatting with an interesting new person."

Check out the article to learn more about the proper time and place for networking.

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