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Welcome to the Small Business Growth Center Newsletter
The purpose of this newsletter is to point small business owners
and their employees towards free resources and tools that can help improve business operations and make their lives easier.
Each issue will contain 4 business features, and one "fun feature"
in the side bar (because all work and no play is no way to keep your
sense of humor--a critical component of any business success.)
We welcome your comments and suggestions. Enjoy!
Now on with the reviews...
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Must-Read Internet Marketing Newsletter
The Internet is the great equalizer for small businesses when it
comes to marketing. Whether you're selling products, communicating with
clients via email, or creating your business' first website, a little
insight can go a long way in making your efforts a success.
One great resource is Larry Chase's Web Digest for Marketers. It's the
one newsletter that has remained on my must-read list for over 10 years. Each issue is
focused on one Internet marketing topic, and provides short reviews and links
to marketing resources.
[Editor's Note: WDFM was my inspiration for this newsletter (and imitation truly is the sincerest form of flattery.) Thanks for
the great newsletter, Larry!]
Subscribe to Larry Chase's Web Digest for Markerters
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What are Your Customers Saying About You?
If you may think you're too small
to show up in online news, or even search engines, you may be more present more often than you think. The advent of social media means your customers are blogging, posting, and commenting all over the Web, and they may
just be talking about you.
If they're saying something good, you'll want to know. If they're unhappy
and broadcasting it to the world, you'll really want to know.
In addition to doing periodic searches for your company on major search
engines, here are some ways to stay on top of it:
- Create a Google or Yahoo Email Alert (this one requires little upfront effort--and you receive alerts automatically)
- Search Google Blogs for your company
name
- Search forum posts in Twing
Bonus Tip: Perform the same searches and set up alerts on your competitors' names for some quick and easy competitive insight.
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Reduce Your 2008 Small Business Taxes
The Economic Stimulus Act May Reduce Your 2008 Small
Business Taxes
Democrat or Republican, whether you supported the legislation or not, it would
be silly not to take advantage of tax savings provided for small businesses in
the 2008 tax year as part of the Economic Stimulus Act.
In a nutshell, the government is allowing you to take a significantly higher tax
write-off for all capital equipment purchased in 2008, and it is doubling the
allowable write-off for Expensed Equipment (from $125,000 to $250,000)
purchased in 2008.
Learn all about it, and how you can take advantage, by watching the Small
Business Administration Online Seminar (about 7 minutes), then using the
calculator at the end of the presentation.
Access the seminar and the calculator here
Of course, this is no substitute for professional advice from your accountant,
but it is a great primer on the tax advantages available this year.
Even with our rocky economy, 2008 is a great time for a Small Businesses to
invest in itself--if you can afford it.
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Do a Financial Ratio Checkup
Financial Ratios, such as the Current Ratio (current assets
divided by current liabilities) and the Debt to Equity Ratio (total
liabilities divided by total equity) are quick ways to get a high-level picture
of your company's health.
The American Express Open Small Business site provides a very useful tool for
assessing your company based on 11 common ratios. The site provides
explanations of each Ratio, an optimal value for each, and simple calculators
for performing the analysis.
Access the Ratio Analysis Tools
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Got Small Business Growth Center Newsletter?
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Have an iGoogle page?
Add our Small Business Tip of the Week
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Play Johnny Money!
This game, from the NFIB Young
Entrepreneur Foundation, is designed to teach high-school students about
running a business--but it can be fun for you seasoned business owners
too. Use it to test outcomes for
different risk-tolerances and pricing strategies, or use it as a training tool to help your novice staff.
To play, go to
http://game.johnnymoney.com
Click the "New User" link, and create a user in the
PaySimple Game:
--Select "Student"
--Enter Class Code: BB6E2F5F-8A7D5CAC
This writer created a business worth just under $71M--how will yours perform?
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Suggest a Site
Have a
Small Business resource or tool you think others will find useful? Send
us a link and we may include it in a future issue!
Email Us
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Small Business Growth CenterProvided by: Creating Platforms
that Help Stars Shine
In our view, Small Businesses are the stars of America. If they thrive,
our world is a better place--more jobs, improved economy, and more people
become empowered. When people are empowered, communities are empowered,
and these people become the mentors of the next generation.
PaySimple strives to bridge the gap for small businesses by providing technology that enables them to bill, collect, and manage their customers' payments under one user-friendly system. Best of all, PaySimple is designed for small businesses' needs and budget, so it requires no technical knowledge to set up or customize. Learn more at www.paysimple.com.
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