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	<title>Small Business Resource &#187; Incentives</title>
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		<title>What Are The Best Pricing Practices For Small Business During An Economic Slowdown?</title>
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		<pubDate>Tue, 21 Feb 2012 18:08:14 +0000</pubDate>
		<dc:creator>admin</dc:creator>
				<category><![CDATA[Running Your Business]]></category>
		<category><![CDATA[Customer Level]]></category>
		<category><![CDATA[Customer Needs]]></category>
		<category><![CDATA[Distribution Channel]]></category>
		<category><![CDATA[Downturn]]></category>
		<category><![CDATA[Economic Slowdown]]></category>
		<category><![CDATA[Financial Crises]]></category>
		<category><![CDATA[Great Time]]></category>
		<category><![CDATA[Incentives]]></category>
		<category><![CDATA[Market Factors]]></category>
		<category><![CDATA[Mckinsey]]></category>
		<category><![CDATA[Price Sensitivity]]></category>
		<category><![CDATA[Price Structure]]></category>
		<category><![CDATA[Pricing Strategy]]></category>
		<category><![CDATA[Profitability]]></category>
		<category><![CDATA[Request Price]]></category>
		<category><![CDATA[Slashes]]></category>
		<category><![CDATA[Small Business Info]]></category>
		<category><![CDATA[Sudden Shifts]]></category>
		<category><![CDATA[Time Period]]></category>
		<category><![CDATA[Unintended Consequences]]></category>
		<category><![CDATA[Verge]]></category>

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		<description><![CDATA[In an economic slowdown your pricing is determined by factors like input cost of production or distribution channel cost etc. .....  which are primarily working on market factors.  Generally one should be working on a reactive strategy of open price .... which allows for revision in product pricing over a shorter time period instead of quarterly or yearly market driven slashes or increases. <br /><br />The important consideration is to try to maintain sales, even if some of them yield marginal or no profit (i,e, break even). In other words, so long as you are covering your costs, particularly fixed costs, then there is value in doing so. <br /><br />However, unless you wish to become the low-cost leader going forward, then this low pricing may create a precedent which customers expect to continue, and it also may devalue the brand. <br /><br />So pricing strategy must be decided carefully, with all things considered, including unintended consequences. And it may be better to have various incentives rather than simple price cuts in order to sustain sales. <br /><br />In the article "Pricing in an Inflationary_Downturn", McKinsey recommends the following actions: <br /><br />-Watch for sudden shifts in price structure <br />-Adjust to changing customer needs <br />-Monitor customer-level profitability <br />-Update price sensitivity research <br /><br />Many companies across the nation are on the verge of closing their doors and some have already started liquidating their inventory. This can be a great time to create opportunity for your business. Here are a few items to look at: <br /><br />Item 1: Renegotiate Your Vendor Pricing: <br /><br />Go to your current vendors and request price decreases due to the economy. You may be able to receive your inventory at a fraction of your old rates because of the risk of your vendors losing their business. Most agreements can be negotiated when financial conditions are more abundant ..... so this provides the perfect opportunity to turn the financial crises into an opportunity for your company. <br /><br />Item 2: Create A Customer Loyalty Program: <br /><br />Many companies started slashing prices to attempt to drive additional business to their company. However in researching the response of the consumers you may find them upset because if those prices were always available why did they not get them before. So you may consider creating a customer loyalty program ..... send a letter and give fliers to every customer saying that you want to retain them as a customer and are now rewarding them with a % off by signing up. What this does is make it look like you are giving an additional perk instead of cutting all your costs. <br /><br />In any environment, it's a best practice to price based on your customers' willingness to pay. To the extent possible, strive to understand if and how your customers' willingness to pay has changed and also how able you are to meet those customers' needs relative to your competition. Unless you have a sustainably lower cost business model, you'll want to avoid competing on price as a price cut is very easy for a competitor to copy but leaving you both with lower margins in the process. The airline industry comes to mind. <br /><br />Are you in a position of relative strength? If so, that might allow you to innovate, differentiate your offering, and improve your value proposition based on shifting customer needs, thereby taking market share without necessarily changing your price. <br /><br />If you find that your customers' willingness to pay doesn't cover your costs, you'll have to re-examine your business model. <br /><br />Keep in mind that there would be different answers for a lot of different situations. First of all strategies may be different in B2B than in B2C. Within each type the following factors will play an important role: <br /><br />1. Company strategic posture – what you want out of the situation: sail through? Take advantage? Weaken competitors? Portray as socially responsible? Etc. <br />2. Financial strength/leverage available. <br />3. Brand positioning <br />4. Relationships with customers <br />5. Distribution leverage <br />6. Product category in terms of price elasticity <br />7. Cost cutting advantages available. <br /><br />You should consider the above and more factors before determining how to price during a slowdown. <br /><br />The only thing I would add is to caution that: <br /><br />1.Understanding price sensitivity in the current climate is critical - price decreases may not have the expected effect and that's an expensive mistake. <br /><br />2. Be aware of potential changes in your value proposition as the market changes. Your product may now be perceived in a different way and the value you deliver will still be the ultimate driver behind what you can charge. <br /><br />3. Price is a key positioning statement, not just a piece of simple mathematics. Think long and hard about how a price change will be perceived by your customer and the long, as well as short term effects a price change may have.<br /><br />In the end cutting the customer's price just for the sake of cutting their costs isn't the answer.  Lower your costs first ..... ensure your product/service maintains "value" .... and focus more on customer loyalty/retention.<p><p>Copyright &#169; 2009 <a href="http://freesmallbusinessresource.com" title="Small Business Resource">Small Business Resource</a><br/><br/><a href="http://freesmallbusinessresource.com/what-are-the-best-pricing-practices-for-small-business-during-an-economic-slowdown/">What Are The Best Pricing Practices For Small Business During An Economic Slowdown?</a></p>
]]></description>
			<content:encoded><![CDATA[<p>In an economic slowdown your pricing is determined by factors like input cost of production or distribution channel cost etc. &#8230;..  which are primarily working on market factors.  Generally one should be working on a reactive strategy of open price &#8230;. which allows for revision in product pricing over a shorter time period instead of quarterly or yearly market driven slashes or increases. </p>
<p>The important consideration is to try to maintain sales, even if some of them yield marginal or no profit (i,e, break even). In other words, so long as you are covering your costs, particularly fixed costs, then there is value in doing so. </p>
<p>However, unless you wish to become the low-cost leader going forward, then this low pricing may create a precedent which customers expect to continue, and it also may devalue the brand. </p>
<p>So pricing strategy must be decided carefully, with all things considered, including unintended consequences. And it may be better to have various incentives rather than simple price cuts in order to sustain sales. </p>
<p>In the article &#8220;Pricing in an Inflationary_Downturn&#8221;, McKinsey recommends the following actions: </p>
<p>-Watch for sudden shifts in price structure <br />-Adjust to changing customer needs <br />-Monitor customer-level profitability <br />-Update price sensitivity research </p>
<p>Many companies across the nation are on the verge of closing their doors and some have already started liquidating their inventory. This can be a great time to create opportunity for your business. Here are a few items to look at: </p>
<p>Item 1: Renegotiate Your Vendor Pricing: </p>
<p>Go to your current vendors and request price decreases due to the economy. You may be able to receive your inventory at a fraction of your old rates because of the risk of your vendors losing their business. Most agreements can be negotiated when financial conditions are more abundant &#8230;.. so this provides the perfect opportunity to turn the financial crises into an opportunity for your company. </p>
<p>Item 2: Create A Customer Loyalty Program: </p>
<p>Many companies started slashing prices to attempt to drive additional business to their company. However in researching the response of the consumers you may find them upset because if those prices were always available why did they not get them before. So you may consider creating a customer loyalty program &#8230;.. send a letter and give fliers to every customer saying that you want to retain them as a customer and are now rewarding them with a % off by signing up. What this does is make it look like you are giving an additional perk instead of cutting all your costs. </p>
<p>In any environment, it&#8217;s a best practice to price based on your customers&#8217; willingness to pay. To the extent possible, strive to understand if and how your customers&#8217; willingness to pay has changed and also how able you are to meet those customers&#8217; needs relative to your competition. Unless you have a sustainably lower cost business model, you&#8217;ll want to avoid competing on price as a price cut is very easy for a competitor to copy but leaving you both with lower margins in the process. The airline industry comes to mind. </p>
<p>Are you in a position of relative strength? If so, that might allow you to innovate, differentiate your offering, and improve your value proposition based on shifting customer needs, thereby taking market share without necessarily changing your price. </p>
<p>If you find that your customers&#8217; willingness to pay doesn&#8217;t cover your costs, you&#8217;ll have to re-examine your business model. </p>
<p>Keep in mind that there would be different answers for a lot of different situations. First of all strategies may be different in B2B than in B2C. Within each type the following factors will play an important role: </p>
<p>1. Company strategic posture – what you want out of the situation: sail through? Take advantage? Weaken competitors? Portray as socially responsible? Etc. <br />2. Financial strength/leverage available. <br />3. Brand positioning <br />4. Relationships with customers <br />5. Distribution leverage <br />6. Product category in terms of price elasticity <br />7. Cost cutting advantages available. </p>
<p>You should consider the above and more factors before determining how to price during a slowdown. </p>
<p>The only thing I would add is to caution that: </p>
<p>1.Understanding price sensitivity in the current climate is critical &#8211; price decreases may not have the expected effect and that&#8217;s an expensive mistake. </p>
<p>2. Be aware of potential changes in your value proposition as the market changes. Your product may now be perceived in a different way and the value you deliver will still be the ultimate driver behind what you can charge. </p>
<p>3. Price is a key positioning statement, not just a piece of simple mathematics. Think long and hard about how a price change will be perceived by your customer and the long, as well as short term effects a price change may have.</p>
<p>In the end cutting the customer&#8217;s price just for the sake of cutting their costs isn&#8217;t the answer.  Lower your costs first &#8230;.. ensure your product/service maintains &#8220;value&#8221; &#8230;. and focus more on customer loyalty/retention.</p>
<p><p>Copyright &#169; 2009 <a href="http://freesmallbusinessresource.com" title="Small Business Resource">Small Business Resource</a><br/><br/><a href="http://freesmallbusinessresource.com/what-are-the-best-pricing-practices-for-small-business-during-an-economic-slowdown/">What Are The Best Pricing Practices For Small Business During An Economic Slowdown?</a></p>
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		<title>Preparing your business for expansion</title>
		<link>http://freesmallbusinessresource.com/preparing-your-business-for-expansion/</link>
		<comments>http://freesmallbusinessresource.com/preparing-your-business-for-expansion/#comments</comments>
		<pubDate>Wed, 15 Feb 2012 18:34:15 +0000</pubDate>
		<dc:creator>admin</dc:creator>
				<category><![CDATA[Grow Your Business]]></category>
		<category><![CDATA[Brand Image]]></category>
		<category><![CDATA[Budget]]></category>
		<category><![CDATA[Business Expansion]]></category>
		<category><![CDATA[Consistent Profits]]></category>
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		<category><![CDATA[Customer Base]]></category>
		<category><![CDATA[Foreseeable Future]]></category>
		<category><![CDATA[Franchise Attorney]]></category>
		<category><![CDATA[Fundamental Differences]]></category>
		<category><![CDATA[Incentives]]></category>
		<category><![CDATA[International Franchise Association]]></category>
		<category><![CDATA[investment]]></category>
		<category><![CDATA[Keeping Control]]></category>
		<category><![CDATA[Landscape]]></category>
		<category><![CDATA[Mentor]]></category>
		<category><![CDATA[Money Pit]]></category>
		<category><![CDATA[New Location]]></category>
		<category><![CDATA[Nuance]]></category>
		<category><![CDATA[Preparing Your Business]]></category>
		<category><![CDATA[Presence]]></category>

		<guid isPermaLink="false">http://freesmallbusinessresource.com/?p=4199</guid>
		<description><![CDATA[So you&#8217;ve built a business that will remain successful for the foreseeable future, but you aren&#8217;t quite sure how to move forward. The question of how to scale your business can be difficult to answer, because there are fundamental differences between a business that you can effectively control on your own, and a larger business [...]<p><p>Copyright &#169; 2009 <a href="http://freesmallbusinessresource.com" title="Small Business Resource">Small Business Resource</a><br/><br/><a href="http://freesmallbusinessresource.com/preparing-your-business-for-expansion/">Preparing your business for expansion</a></p>
]]></description>
			<content:encoded><![CDATA[<p>So you&#8217;ve built a business that will remain successful for the foreseeable future, but you aren&#8217;t quite sure how to move forward. The question of how to scale your business can be difficult to answer, because there are fundamental differences between a business that you can effectively control on your own, and a larger business that requires additional layers of management.</p>
<p>Here are some strategies that you can implement in order to move forward, as well as some considerations that will have to be made before using each strategy.</p>
<p><strong>Opening a New Location</strong></p>
<p>The most obvious strategy is to open up a new location somewhere outside of your original customer base&#8217;s range. Just because this strategy is common, though, doesn&#8217;t mean it&#8217;s best for you. This requires a firm understanding of of your available budget and the landscape of the market.</p>
<p>To start with, you should already have consistent profits each year for several years. You&#8217;ll need to be sure that the new location offers similar potential, and that it won&#8217;t become a money pit. Don&#8217;t assume you can pull out of your investment at any time. There are bureaucratic limitations that can prevent this, and a failed location can be bad for your brand&#8217;s image.</p>
<p>Before investing in any new location, make sure that you are filling needs that aren&#8217;t already being filled in the area, and that there is a large enough potential customer base.</p>
<p><strong>Open a Franchise</strong></p>
<p>By opening a franchise you don&#8217;t keep the same level of ownership that you had in the beginning, but each location has greater incentives to be self-sufficient. In this way, a franchise can maintain a more entrepreneurial presence.</p>
<p>Take care to hire an experienced franchise attorney, and join the International Franchise Association. Ideally, you should find a mentor who has done it successfully before. Finding the right balance between keeping control of the brand and letting managers handle their own issues is important, but it demands nuance and planning.</p>
<p><strong>Diversify Your Business Model</strong></p>
<p>Rather than doing more of the same, you can set your sites on other niches of the market that aren&#8217;t being filled. Having multiple sources of income not only increases your profits, it makes your business less vulnerable to changes in the marketplace.</p>
<p>Diversification can mean several different things. For example, you can start outsourcing some of your internal training programs to other companies and provide training for other businesses. You could tweak your existing products in a way that appeals to a different corner of the market. You could make your products available at other locations or sell products produced by other businesses. All of these are feasible possibilities.</p>
<p><strong>Merge with Another Business</strong></p>
<p>Buying a business off the auction block or merging with a loyal ally can be a very successful strategy when done properly. This makes use of existing infrastructure in a way that makes expansion possible where it wouldn&#8217;t otherwise be easy to do. That said, there are some things to keep in mind.</p>
<p>You must have a strategy for retaining the customers of both businesses before the merger occurs. You will need to decide whether the best strategy will involve two separate brand names, a new name, or one of the old names. You will also want to retain the best parts of both businesses, or you will risk losing the core values that made the business successful in the first place.</p>
<p><strong>Go Online</strong></p>
<p>The web offers opportunities for growth that weren&#8217;t available to previous generations. While not everything online can be scaled as easily as a blog&#8217;s audience, there are fewer physical barriers in place to prevent growth. But an online presence is different from a physical presence in many ways, and these are differences that have to be accounted for before moving forward.</p>
<p>The internet is an information economy, and information has some fundamental differences from physical products. Most importantly, it can be easily copied so that more than one person can access the same information at the same time. This demands a different approach. Information should be approached primarily as a form of promotion, rather than as a product.</p>
<p>By the same token, information is never copied just because. There must be something about the information itself which makes it particularly easy and desirable to share it. This is what most successful online companies have managed to achieve.</p>
<p><em>Author Bio: Christina Maquire writes for <a href="http://www.upack.com/">U-pack Moving Co</a>., a company that helps small businesses reach their dreams!</em></p>
<p><p>Copyright &#169; 2009 <a href="http://freesmallbusinessresource.com" title="Small Business Resource">Small Business Resource</a><br/><br/><a href="http://freesmallbusinessresource.com/preparing-your-business-for-expansion/">Preparing your business for expansion</a></p>
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		<title>Big Job Losses</title>
		<link>http://freesmallbusinessresource.com/big-job-losses/</link>
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		<pubDate>Tue, 17 Jan 2012 18:11:09 +0000</pubDate>
		<dc:creator>admin</dc:creator>
				<category><![CDATA[Running Your Business]]></category>
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		<description><![CDATA[The employment numbers out today from the U.S. Bureau of Labor Statistics were simply depressing – though not surprising.<br /><br />For example, based on the household survey – which often captures more entrepreneurial activity – the story is quite grim.  Since the November 2007 peak, the U.S. has lost nearly 1.7 million jobs.<br /><br />Meanwhile, the payroll survey points to a loss of 524,000 jobs in the last two months, and nearly 1.2 million since this past December’s peak.<br /><br />The payroll survey also offers a look at the private sector jobs picture.  From the December high, the private sector has lost more than 1.3 million jobs, including more than 500,000 over the past two months.<br /><br />The economy certainly could use help from our nation’s capital. But things like tax rebate checks, temporary and targeted tax measures, bailouts, and more government spending will do little. Indeed, much of that could just do more damage. The economy needs permanent and substantial tax and regulatory relief that boosts the incentives for investors, entrepreneurs and businesses to take the risks necessary to build and grow the economy. <br /><br />Raymond J. Keating<br />Chief Economist<br />Small Business &#038; Entrepreneurship Council<p><p>Copyright &#169; 2009 <a href="http://freesmallbusinessresource.com" title="Small Business Resource">Small Business Resource</a><br/><br/><a href="http://freesmallbusinessresource.com/big-job-losses/">Big Job Losses</a></p>
]]></description>
			<content:encoded><![CDATA[<p>The employment numbers out today from the U.S. Bureau of Labor Statistics were simply depressing – though not surprising.</p>
<p>For example, based on the household survey – which often captures more entrepreneurial activity – the story is quite grim.  Since the November 2007 peak, the U.S. has lost nearly 1.7 million jobs.</p>
<p>Meanwhile, the payroll survey points to a loss of 524,000 jobs in the last two months, and nearly 1.2 million since this past December’s peak.</p>
<p>The payroll survey also offers a look at the private sector jobs picture.  From the December high, the private sector has lost more than 1.3 million jobs, including more than 500,000 over the past two months.</p>
<p>The economy certainly could use help from our nation’s capital. But things like tax rebate checks, temporary and targeted tax measures, bailouts, and more government spending will do little. Indeed, much of that could just do more damage. The economy needs permanent and substantial tax and regulatory relief that boosts the incentives for investors, entrepreneurs and businesses to take the risks necessary to build and grow the economy. </p>
<p>Raymond J. Keating<br />Chief Economist<br />Small Business &#038; Entrepreneurship Council</p>
<p><p>Copyright &#169; 2009 <a href="http://freesmallbusinessresource.com" title="Small Business Resource">Small Business Resource</a><br/><br/><a href="http://freesmallbusinessresource.com/big-job-losses/">Big Job Losses</a></p>
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		<title>Rewarding Employees and Clients with Tickets to Sporting Events</title>
		<link>http://freesmallbusinessresource.com/rewarding-employees-and-clients-with-tickets-to-sporting-events/</link>
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		<pubDate>Sat, 14 Jan 2012 14:21:41 +0000</pubDate>
		<dc:creator>admin</dc:creator>
				<category><![CDATA[Employee Relations]]></category>
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		<guid isPermaLink="false">http://freesmallbusinessresource.com/?p=4149</guid>
		<description><![CDATA[Sometimes it is the little perks that encourage an employee to work harder or entice a client to choose your business over the competition. Sometimes it&#8217;s just about keeping an existing client happy or giving your employees something to work towards at the end of a long work week. Presenting tickets to a sporting event [...]<p><p>Copyright &#169; 2009 <a href="http://freesmallbusinessresource.com" title="Small Business Resource">Small Business Resource</a><br/><br/><a href="http://freesmallbusinessresource.com/rewarding-employees-and-clients-with-tickets-to-sporting-events/">Rewarding Employees and Clients with Tickets to Sporting Events</a></p>
]]></description>
			<content:encoded><![CDATA[<p>Sometimes it is the little perks that encourage an employee to work harder or entice a client to choose your business over the competition. Sometimes it&#8217;s just about keeping an existing client happy or giving your employees something to work towards at the end of a long work week. Presenting tickets to a sporting event is a great way to boost morale among employees or impress that out-of-town client who happens to be coming to visit when his or her favorite team is visiting for a game. If used correctly, tickets to a sporting event can be a great incentive or even a way to ease the tension before heading into negotiations for an important business deal.</p>
<p><span style="text-decoration: underline;"><strong>Impressing a Client</strong></span></p>
<p><strong>Do not Place Strings On Business-related Incentives</strong></p>
<p>If you are trying to impress a client with some tickets to the baseball game this weekend, that&#8217;s fine. Just don&#8217;t imply that you expect something in return. Not only is this bad business sense, it can also be illegal and get you into a lot of trouble. Make it clear that you are offering your client or potential customer tickets as a gesture of goodwill and expect nothing in return.</p>
<p><strong>Find Out What Your Clients Like</strong></p>
<p>If you have a regular client that you want to impress with little perks now and then, do a little research first. Find out what sports team she likes. If she has a husband or boyfriend, consider having extra tickets available for an extra guest. A client tends to remember little personal touches like this. Make the event a little more special by making arrangements for travel to and from the game. If a client is coming in from out of town, he is likely to be staying at a hotel. Arrange for car or limo service. Consider an invitation to dinner before or after the game.</p>
<p><strong>Rewarding Employee Performance</strong></p>
<p>Make It Clear What an Employee Needs to Do to Earn Tickets</p>
<p>Tickets to a sporting event can be a major incentive for an employee to finish up that report on time. Especially if there is a big game coming up. However, you want to be fair to all employees when offering such an incentive. Avoid the appearance of favoritism. If you only have a certain number of tickets, make it clear that only the top five or ten performers for the week will be eligible this time. Consider softening the blow to the other employees by holding an office lunch or having a casual day.</p>
<p><strong>Make It a Regular Incentive</strong></p>
<p>It is unlikely that you are going to be giving away Super Bowl tickets to boost employee performance. Consider purchasing tickets to different games throughout the season and offering weekly office contests. This gives employees something to look forward to each week and provides an overall boost to office morale. Additional stipulations can be added, such as limiting the number of times an employee can win within a given amount of time. This gives more employees a chance to earn tickets. The last thing you want to do is create a hostile environment over something that is supposed to be fun. Clearly post any rules, stipulations or exceptions.</p>
<p><strong>Author Bio:</strong></p>
<p>Nancy Zimmer writes for TicketLiquidator.com, a website dedicated to helping event-goers find <a href="http://www.ticketliquidator.com/tix/new-york-knicks-tickets.aspx">cheap New York Knicks tickets</a></p>
<p><p>Copyright &#169; 2009 <a href="http://freesmallbusinessresource.com" title="Small Business Resource">Small Business Resource</a><br/><br/><a href="http://freesmallbusinessresource.com/rewarding-employees-and-clients-with-tickets-to-sporting-events/">Rewarding Employees and Clients with Tickets to Sporting Events</a></p>
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		<title>Ways to Get More Walk-in Traffic for Your Business</title>
		<link>http://freesmallbusinessresource.com/ways-to-get-more-walk-in-traffic-for-your-business/</link>
		<comments>http://freesmallbusinessresource.com/ways-to-get-more-walk-in-traffic-for-your-business/#comments</comments>
		<pubDate>Tue, 08 Nov 2011 04:42:04 +0000</pubDate>
		<dc:creator>webkriti</dc:creator>
				<category><![CDATA[Grow Your Business]]></category>
		<category><![CDATA[Billboards]]></category>
		<category><![CDATA[Block Party]]></category>
		<category><![CDATA[Brand Image]]></category>
		<category><![CDATA[Business Hours]]></category>
		<category><![CDATA[Buzz]]></category>
		<category><![CDATA[Dj]]></category>
		<category><![CDATA[Environmental Causes]]></category>
		<category><![CDATA[Food Trucks]]></category>
		<category><![CDATA[Foot Traffic]]></category>
		<category><![CDATA[Free Advertising]]></category>
		<category><![CDATA[Giveaways]]></category>
		<category><![CDATA[Host Benefits]]></category>
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		<category><![CDATA[Old School]]></category>
		<category><![CDATA[Poor Turnout]]></category>
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		<category><![CDATA[Spectacle]]></category>
		<category><![CDATA[Walk Ins]]></category>

		<guid isPermaLink="false">http://freesmallbusinessresource.com/?p=4025</guid>
		<description><![CDATA[Even if you’re in a great location with tons of foot-traffic, you may find that you have trouble getting passers-by to stop in and check out your store.  And if you’re in a location that doesn’t get much traffic of any variety, you’ll be even worse off.  While you could spend a ton of money [...]<p><p>Copyright &#169; 2009 <a href="http://freesmallbusinessresource.com" title="Small Business Resource">Small Business Resource</a><br/><br/><a href="http://freesmallbusinessresource.com/ways-to-get-more-walk-in-traffic-for-your-business/">Ways to Get More Walk-in Traffic for Your Business</a></p>
]]></description>
			<content:encoded><![CDATA[<p><strong><a href="http://freesmallbusinessresource.com/wp-content/uploads/2011/11/Store-Sign.jpg"><img class="size-medium wp-image-4026 aligncenter" src="http://freesmallbusinessresource.com/wp-content/uploads/2011/11/Store-Sign-300x225.jpg" alt="" width="300" height="225" /></a><br />
</strong></p>
<p>Even if you’re in a great location with tons of foot-traffic, you may find that you have trouble getting passers-by to stop in and check out your store.  And if you’re in a location that doesn’t get much traffic of any variety, you’ll be even worse off.  While you could spend a ton of money putting up billboards and purchasing ads on TV and radio, there are better ways to get a buzz going so that people seek out your store.  Here are just a few ways to go about increasing your walk-ins.</p>
<ol>
<li>Hold promotional events.  Everyone loves a good spectacle, so try to think of events you could hold to get your name out to the public and people coming in.  You might want to get neighboring businesses to hold a block party (complete with DJ and food trucks, for example) so that costs are defrayed and everyone can benefit from increased foot traffic.  Or you might go into the community to host benefits for charitableor environmental causes, which stand to improve your brand image enormously.  The sky is the limit on this one.</li>
<li>Follow up with contacts.  Most events will yield contact information for customers that are interested in learning more about your business.  You may even secure contacts online through your website.  But if you fail to follow up with them, offering not only information but also incentives to get them in the store, you have no one to blame but yourself for a poor turnout during business hours.</li>
<li>Host sales and giveaways.  This is old-school, but it still works because everyone loves to save money and get stuff for free.    Of course, you’ll have to do some advertising so people know what you’re up to, but you may get loyal patrons bringing in new friends as well as random people off the street coming to check you out.</li>
<li>Butter up the media.  Free advertising isn’t easy to secure, but you can get the media to plug you in a number of ways.  The easiest, of course, is by sending them samples (read: freebies) to try out and review.  This works for talk-show hosts, radio personalities, and of course, bloggers.  Plus, you’ll find out pretty quickly who you want to send more stuff to and which outlets are not worth the effort.  From there you may be able to determine which plugs are delivering the most walk-in customers.</li>
<li>Use online resources.  <a href="http://storesigns.com/">Store signs</a> posted around town may catch the attention of a few customers here and there, but you can dramatically increase your walk-ins by using a number of resources on the worldwide web.  Your website is a great way to increase exposure and reach new customers across the globe (especially if you have an online store), but in order to appeal to locals and visitors, you need to give them incentive to come in.  You should set up accounts with social networking sites like Facebook, Twitter, and Foursquare (just to name a few) and encourage visitors to your website to friend and follow you.  Then offer exclusive discounts, coupons, or freebies to those who drop in and cite your social media as the reason.</li>
</ol>
<p><p>Copyright &#169; 2009 <a href="http://freesmallbusinessresource.com" title="Small Business Resource">Small Business Resource</a><br/><br/><a href="http://freesmallbusinessresource.com/ways-to-get-more-walk-in-traffic-for-your-business/">Ways to Get More Walk-in Traffic for Your Business</a></p>
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		<title>Innovative Ways To Promote Your Travel Company</title>
		<link>http://freesmallbusinessresource.com/innovative-ways-to-promote-your-travel-company/</link>
		<comments>http://freesmallbusinessresource.com/innovative-ways-to-promote-your-travel-company/#comments</comments>
		<pubDate>Tue, 26 Jul 2011 16:53:42 +0000</pubDate>
		<dc:creator>webkriti</dc:creator>
				<category><![CDATA[Grow Your Business]]></category>
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		<category><![CDATA[Innovative Marketing]]></category>
		<category><![CDATA[Marketing Strategies]]></category>
		<category><![CDATA[Number 1]]></category>
		<category><![CDATA[Odd Situations]]></category>
		<category><![CDATA[Places Of Interest]]></category>
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		<category><![CDATA[Travellers]]></category>

		<guid isPermaLink="false">http://freesmallbusinessresource.com/?p=3777</guid>
		<description><![CDATA[The internet is a huge place now, and for a business to ignore it is potential suicide. From 2005 to 2010 the amount of web pages doubled, and it&#8217;s predicted that by 2015 it will be 8 times what it is now. It can represent a huge market, far bigger than any footfall you would [...]<p><p>Copyright &#169; 2009 <a href="http://freesmallbusinessresource.com" title="Small Business Resource">Small Business Resource</a><br/><br/><a href="http://freesmallbusinessresource.com/innovative-ways-to-promote-your-travel-company/">Innovative Ways To Promote Your Travel Company</a></p>
]]></description>
			<content:encoded><![CDATA[<p>The internet is a huge place now, and for a business to ignore it is potential suicide. From 2005 to 2010 the amount of web pages doubled, and it&#8217;s predicted that by 2015 it will be 8 times what it is now. It can represent a huge market, far bigger than any footfall you would get to a shop, so your online presence needs to be attractive in order to convert customers. However, many markets now have become saturated, with thousands of companies vying for the same spots. This has been taken advantage of with the ever changing &#8216;art&#8217; of SEO, where eventually it comes down to who has the most money and therefore can afford the most online marketing. It is also not helped by the dominance of Google, making the page 1, number 1 spot the most highly fought over and leaving the others out of the game. You therefore need to look to innovative marketing strategies in order to get noticed. Technology today is helping companies achieve this, so here are some of the most creative travel marketing schemes i&#8217;ve found. You may want to try applying some of these to your business:</p>
<p><strong>- QR Codes</strong><br />
QR Codes are a form of barcode, except that they are square and can hold a lot more information than the standard kind. These have been used in manufacturing for part labelling for over 20 years, but have made it into general circulation as a marketing device in the past few years, as they can be scanned by simple smartphone apps. The great advantage is that they can display adverts with pictures, and are placed in odd situations to provide offers, discounts and other incentives to people who scan them. They are very cheap to produce and can be used in a wide variety of places.</p>
<p><strong>- Apps</strong><br />
The amount of companies developing apps today has grown a massive amount, making them much cheaper than they were only a year ago. Canadian RV company CanaDream have spent the past few months making a location based iPad app that helps travellers to find local places of interest, as well as mapping campsites, stop over areas and other areas useful to RV travellers. As this is branded with the CanaDream logo and information about the dealerships, it acts as a great brand awareness tool. Even though people might not ever use CanaDream, they will know the name and there is a greatly increased chance they will recommend them to a friend.</p>
<p>James works for <a href="http://www.hotelshopuk.com">Hotelshop</a> UK, <a href="http://www.motorhomes.co.uk">Motorhomes</a>, CyclingNews and many others. He is a keen writer, sportsman and traveller who loves to journey around the UK and Europe</p>
<p>&nbsp;</p>
<p><p>Copyright &#169; 2009 <a href="http://freesmallbusinessresource.com" title="Small Business Resource">Small Business Resource</a><br/><br/><a href="http://freesmallbusinessresource.com/innovative-ways-to-promote-your-travel-company/">Innovative Ways To Promote Your Travel Company</a></p>
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		<title>What Type of Employee Benefits Should a Small Business Offer?</title>
		<link>http://freesmallbusinessresource.com/what-type-of-employee-benefits-should-a-small-business-offer/</link>
		<comments>http://freesmallbusinessresource.com/what-type-of-employee-benefits-should-a-small-business-offer/#comments</comments>
		<pubDate>Sat, 16 Jul 2011 05:54:39 +0000</pubDate>
		<dc:creator>webkriti</dc:creator>
				<category><![CDATA[Running Your Business]]></category>
		<category><![CDATA[Access To Health Care]]></category>
		<category><![CDATA[Added Expense]]></category>
		<category><![CDATA[Choices]]></category>
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		<category><![CDATA[Employee Benefits]]></category>
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		<category><![CDATA[Voluntary Benefits]]></category>

		<guid isPermaLink="false">http://freesmallbusinessresource.com/?p=3743</guid>
		<description><![CDATA[Most large companies offer benefits not because they are required to, but because they want to be competitive.  If you know anything about health insurance then you are probably well aware of the expense of having it (especially if you’re paying for it on your own).  But when it comes to health benefits offered by [...]<p><p>Copyright &#169; 2009 <a href="http://freesmallbusinessresource.com" title="Small Business Resource">Small Business Resource</a><br/><br/><a href="http://freesmallbusinessresource.com/what-type-of-employee-benefits-should-a-small-business-offer/">What Type of Employee Benefits Should a Small Business Offer?</a></p>
]]></description>
			<content:encoded><![CDATA[<p><strong><a href="http://freesmallbusinessresource.com/wp-content/uploads/2011/07/Employee-Benefits.jpg"><img class="size-medium wp-image-3744 aligncenter" src="http://freesmallbusinessresource.com/wp-content/uploads/2011/07/Employee-Benefits-300x199.jpg" alt="" width="300" height="199" /></a><br />
</strong></p>
<p>Most large companies offer benefits not because they are required to, but because they want to be competitive.  If you know anything about health insurance then you are probably well aware of the expense of having it (especially if you’re paying for it on your own).  But when it comes to health benefits offered by an employer, you must realize that the reason you pay less is because your employer is paying the lion’s share for your coverage.  However, many small businesses cannot afford this added expense (they can barely afford your salary).  Unfortunately, that could mean they don’t exactly have the pick of the litter when it comes to hiring.  So how far should a struggling company go when offering benefits in order to keep current employees happy and attract new applicants?  Here are just a few benefits that small businesses can feel good about providing.</p>
<ol>
<li>Limited benefits.  One easy way for a company to save on providing health insurance benefits is to only offer limited plans (so as to cut their own cost).  Although employees will not realize the same access to health care that they might get through a large corporation, having some coverage is better than none.  You might not get to choose the hospitals you can visit or the doctors you like, but at least you won’t be blowing all of your pay on medical costs.</li>
<li>Voluntary benefits.  This is a great alternative for small businesses that allows them to add extra coverage with no additional cost (to the company).  Any employee that wants to may pay more in order to enjoy more choices when it comes to their coverage.  This creates further options not only for the employees (some of whom are more than happy to pay extra in order to get what they want); it also means that small companies have more incentives to help them attract quality employees.</li>
<li>Flexible scheduling.  Although small businesses often demand a lot from their few employees (requiring them to wear multiple hats and sometimes work long hours), they have the ability to offer a lot in return, especially when it comes to flexibility.  Whereas a larger company needs to mandate working hours because it’s the only real way to keep track of everyone, smaller businesses may be able to arrange for swing shifts and flexible hours simply because everyone knows everyone else and the close-knit family atmosphere means that employees will cover the gaps to help each other out.</li>
<li>Telecommuting.  Having a portion (or all) of the staff working remotely can make life easier for everyone.  For the employees, the obvious benefit is avoiding a commute and working from the comfort of home.  And a small business that can allow all employees to work remotely can skirt expenses like a lease, utilities, and liability insurance.  Even those that allow a portion of their staff to work from home can significantly reduce costs.</li>
<li>Carpool rewards.  Depending on the state you live in, you may be able to arrange for government reimbursement if you have enough employees participating in a carpooling program.  You should check your local laws, but it could end up being an appealing benefit to offer employees facing a long commute.</li>
</ol>
<p>Sarah Danielson writes for Midwest HR, a <a href="http://www.midwesthr.com/">Chicago corporate wellness program</a> company. Midwest HR offers innovative HR solutions to organizations that are focused on productivity, profitability, and growth.</p>
<p>&nbsp;</p>
<p><p>Copyright &#169; 2009 <a href="http://freesmallbusinessresource.com" title="Small Business Resource">Small Business Resource</a><br/><br/><a href="http://freesmallbusinessresource.com/what-type-of-employee-benefits-should-a-small-business-offer/">What Type of Employee Benefits Should a Small Business Offer?</a></p>
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		<title>How to Negotiate a Salary with a New Employee</title>
		<link>http://freesmallbusinessresource.com/how-to-negotiate-a-salary-with-a-new-employee/</link>
		<comments>http://freesmallbusinessresource.com/how-to-negotiate-a-salary-with-a-new-employee/#comments</comments>
		<pubDate>Tue, 12 Jul 2011 12:28:12 +0000</pubDate>
		<dc:creator>admin</dc:creator>
				<category><![CDATA[Running Your Business]]></category>
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		<guid isPermaLink="false">http://freesmallbusinessresource.com/?p=3717</guid>
		<description><![CDATA[You have posted a position, conducted interviews and found the perfect candidate. Now this person is asking for a higher salary than what you offered. Negotiating a salary with a new employee does not need to be a dreaded task. Armed with the right tools and knowledge, you can gain the upper hand in salary [...]<p><p>Copyright &#169; 2009 <a href="http://freesmallbusinessresource.com" title="Small Business Resource">Small Business Resource</a><br/><br/><a href="http://freesmallbusinessresource.com/how-to-negotiate-a-salary-with-a-new-employee/">How to Negotiate a Salary with a New Employee</a></p>
]]></description>
			<content:encoded><![CDATA[<div id="normal"><strong id="textpreview_title"></strong>You have posted a position, conducted interviews and found the perfect candidate. Now this person is asking for a higher salary than what you offered. Negotiating a salary with a new employee does not need to be a dreaded task. Armed with the right tools and knowledge, you can gain the upper hand in salary negotiations.</p>
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<p><strong>What should you know before extending an offer?</strong></p>
<p>Know your limits. Your limits may be based on the economy’s climate, the job market, <a href="http://accountingresume.ca/accountant-salaries/">salaries of similar employees</a>, internal salary ranges and the success of your company. It helps to find out the candidate’s most recent salary and benefits. Many companies ask for salary information on the application.</p>
<p>When you make the offer, be clear with the candidate if the offer is not negotiable. If the the salary is not negotiable, then there may be other incentives you can offer this person. However, you need to first determine how much real and potential value the candidate has to offer.</p>
<p><strong>Is the candidate worth it?</strong></p>
<p>The first step in determining the value of this person is to answer a list of specific questions. How desperately does your business need this person? Is it a challenge to find someone with their skill set? Do you need to hire someone right away? Can you see this person staying with the business on a long-term basis? What is their potential for growth in this role?</p>
<p>If you have a pool of second-best candidates with similar profiles, then you have the upper hand. However, if the candidate has a unique skill set that is perfectly-suited to the role, then he or she may be worth it. Additionally, consider whether or not this person is already working. If this person is currently employed somewhere else, then he or she is less likely to leave their job for less than they want as an unemployed applicant is.</p>
<p>At the same time, you will need to balance your company’s needs with budgets and your current employees’ salaries. Offering a new employee the same salary or higher than that of current employees can create problems with morale and retention.</p>
<p><strong>How do you gracefully make a counteroffer?</strong></p>
<p>If you determine that the candidate is worth more than your initial offer, then you will need to make a counteroffer. Consider your budget. If you truly cannot offer a high salary per se, then perhaps you can offer an incentive such as a bonus for their first year of employment, extra vacation time, stock options, a commission on top of their base salary or reduced hours for the same pay. Before offering any of these incentives, however, research federal laws. Some nondiscrimination rules may state that offering one employee more benefits than another is illegal.</p>
<p>If you do have additional funds at your disposal, you can give the candidate an opportunity to prove him- or herself by offering to increase their wage in increments. For example, if he or she is asking for $1.00 more per hour, then offer him or her $0.50/hour more after six months and another $0.50/hour more after a year.</p>
<p>By being firm with your salary range, determining the candidate’s value and knowing what your counteroffer options are, you can negotiate new-hire salaries with confidence and professionalism.</p>
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<p>Salary negotiotions are a pivotal part of the hiring process.  A keen understanding of the economic climate, the <a href="http://accountingresume.ca/">conditions of the particular industry</a>, and the abilities of the applicant are important considerations.  Hiring is no simple task, and one must use tact in salary negotations.</p>
<p><p>Copyright &#169; 2009 <a href="http://freesmallbusinessresource.com" title="Small Business Resource">Small Business Resource</a><br/><br/><a href="http://freesmallbusinessresource.com/how-to-negotiate-a-salary-with-a-new-employee/">How to Negotiate a Salary with a New Employee</a></p>
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		<title>Utilizing Local Colleges for Interns and Employees</title>
		<link>http://freesmallbusinessresource.com/utilizing-local-colleges-for-interns-and-employees/</link>
		<comments>http://freesmallbusinessresource.com/utilizing-local-colleges-for-interns-and-employees/#comments</comments>
		<pubDate>Sat, 21 May 2011 07:22:37 +0000</pubDate>
		<dc:creator>webkriti</dc:creator>
				<category><![CDATA[Running Your Business]]></category>
		<category><![CDATA[Better Reason]]></category>
		<category><![CDATA[Business Obligations]]></category>
		<category><![CDATA[Colleges]]></category>
		<category><![CDATA[Educational Assistance]]></category>
		<category><![CDATA[First Job]]></category>
		<category><![CDATA[Home Tuition]]></category>
		<category><![CDATA[Home Tutors]]></category>
		<category><![CDATA[Incentives]]></category>
		<category><![CDATA[Interns]]></category>
		<category><![CDATA[Internship]]></category>
		<category><![CDATA[Local College]]></category>
		<category><![CDATA[Medical Insurance]]></category>
		<category><![CDATA[Ongoing Education]]></category>
		<category><![CDATA[Professors]]></category>
		<category><![CDATA[Seminars]]></category>
		<category><![CDATA[Sick Leave]]></category>
		<category><![CDATA[Team Building Exercises]]></category>
		<category><![CDATA[Team Exercises]]></category>
		<category><![CDATA[Unfortunate Task]]></category>
		<category><![CDATA[Woes]]></category>

		<guid isPermaLink="false">http://freesmallbusinessresource.com/?p=3625</guid>
		<description><![CDATA[There are many ways to keep the employees you already have.  You can give them promotions and raises, engage in team-building exercises, and offer benefits like medical insurance, paid vacation, sick leave, and ongoing education (in the form of educational assistance or even seminars and home tutors but keep the home tuition in mind).  But [...]<p><p>Copyright &#169; 2009 <a href="http://freesmallbusinessresource.com" title="Small Business Resource">Small Business Resource</a><br/><br/><a href="http://freesmallbusinessresource.com/utilizing-local-colleges-for-interns-and-employees/">Utilizing Local Colleges for Interns and Employees</a></p>
]]></description>
			<content:encoded><![CDATA[<p><strong><a href="http://freesmallbusinessresource.com/wp-content/uploads/2011/05/College-Student.jpg"><img class="alignnone size-medium wp-image-3626" src="http://freesmallbusinessresource.com/wp-content/uploads/2011/05/College-Student-225x300.jpg" alt="" width="225" height="300" /></a><br />
</strong></p>
<p>There are many ways to keep the employees you already have.  You can give them promotions and raises, engage in team-building exercises, and offer benefits like medical insurance, paid vacation, sick leave, and ongoing education (in the form of educational assistance or even seminars and home tutors but keep the <a href="http://www.hometuitionagency.com.sg/">home tuition</a> in mind).  But no matter how many incentives you give employees, eventually they will move on, leaving you with the unfortunate task of hiring someone new.  Even worse, you may have all the employees you can afford without the ability to meet your business obligations.  Whatever your staffing woes, local colleges could offer a solution.  They can provide qualified individuals that may be interested in hiring on with your company or even participating in an internship.  So if you’re thinking that you need some help, paid or otherwise, here are just a few good reasons to set up a partnership with a local college in order to expand your pool of applicants.</p>
<p>1.       Interns are free!  Is there any better reason to bring in an employee than the fact that you’ll receive their services without having to spend a dime?  Of course, there is a disclaimer: they may require some hand-holding.  In fact, you might be giving them their very first job, which means they’ll be a little green.  They require more training and you’ll probably have to keep track of their progress (to report to their professors, at the very least).  But you’ll get at least some work done without the burden of having to hire an additional paid employee (that you might not be able to afford).</p>
<p>2.       Up-to-date knowledge and skills.  Whether you take on an intern or hire someone outright, you’ll likely benefit from the fact that they have been exposed to the latest advances and newest equipment related to your field.  This knowledge can not only be used to improve your business, it can also benefit your other employees, who may not have received any continuing education in several years.</p>
<p>3.       Enthusiasm.  There’s no doubt that students in their twenties are going to have a lot more chutzpah than older employees.  Not only will they bring a level of excitement to the job that may be lacking in your current office environment, they will also work their butts off to prove that they deserve to be there.  Many will hang on your every word, eager to please you and succeed in their new position (as well as learn whatever they can during their time with you).  In short, they will bring an infectious energy and creativity to your workspace, which will likely benefit everyone.</p>
<p>4.       Increased pool of candidates.  If you’re having trouble finding qualified applicants within the community, contacting a local college could definitely solve your problem (especially if you’re willing to offer part-time hours).  You may be surprised by how many individuals have more than the requisite knowledge and skills, but simply need the experience on their résumé in order to advance.</p>
<p>5.       Give something back.  This is a situation where you stand to give just as much as you’re taking.  By hiring interns, you’ll offer them a chance to get something that the college can’t provide: experience.  And if you decide to hire students or graduates from related programs, possibly by offering one-year contracts to select graduates, you can add value to the school since more students may be willing to attend a college that can guarantee jobs upon graduation.</p>
<p><p>Copyright &#169; 2009 <a href="http://freesmallbusinessresource.com" title="Small Business Resource">Small Business Resource</a><br/><br/><a href="http://freesmallbusinessresource.com/utilizing-local-colleges-for-interns-and-employees/">Utilizing Local Colleges for Interns and Employees</a></p>
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		<title>How to Boost Employee Morale</title>
		<link>http://freesmallbusinessresource.com/how-to-boost-employee-morale/</link>
		<comments>http://freesmallbusinessresource.com/how-to-boost-employee-morale/#comments</comments>
		<pubDate>Fri, 29 Apr 2011 03:22:46 +0000</pubDate>
		<dc:creator>webkriti</dc:creator>
				<category><![CDATA[Small Business Blog]]></category>
		<category><![CDATA[Accomplishment]]></category>
		<category><![CDATA[Attitude]]></category>
		<category><![CDATA[Budget]]></category>
		<category><![CDATA[Business Employee]]></category>
		<category><![CDATA[Case Of The Mondays]]></category>
		<category><![CDATA[Cash Bonuses]]></category>
		<category><![CDATA[Crappy Time]]></category>
		<category><![CDATA[Crunch Time]]></category>
		<category><![CDATA[Employee Morale]]></category>
		<category><![CDATA[Fiscal Year]]></category>
		<category><![CDATA[Good Job]]></category>
		<category><![CDATA[Incentives]]></category>
		<category><![CDATA[Job Satisfaction]]></category>
		<category><![CDATA[Pride]]></category>
		<category><![CDATA[Productivity]]></category>
		<category><![CDATA[Rewards]]></category>
		<category><![CDATA[Small Businesses]]></category>
		<category><![CDATA[Stockholders]]></category>
		<category><![CDATA[Track 1]]></category>
		<category><![CDATA[Work Environment]]></category>

		<guid isPermaLink="false">http://freesmallbusinessresource.com/?p=3585</guid>
		<description><![CDATA[The truth about small businesses is that they generally operate on a much smaller budget than larger competitors, meaning that employees have to take on multiple roles (rather than filling a set position) and they often receive less in the way of rewards and other considerations for a job well done.  This can often provide [...]<p><p>Copyright &#169; 2009 <a href="http://freesmallbusinessresource.com" title="Small Business Resource">Small Business Resource</a><br/><br/><a href="http://freesmallbusinessresource.com/how-to-boost-employee-morale/">How to Boost Employee Morale</a></p>
]]></description>
			<content:encoded><![CDATA[<p><strong><a href="http://freesmallbusinessresource.com/wp-content/uploads/2011/04/When-to-Move-On.jpg"><img class="size-medium wp-image-3586 alignleft" src="http://freesmallbusinessresource.com/wp-content/uploads/2011/04/When-to-Move-On-200x300.jpg" alt="" width="200" height="300" /></a><br />
</strong></p>
<p>The truth about small businesses is that they generally operate on a much smaller budget than larger competitors, meaning that employees have to take on multiple roles (rather than filling a set position) and they often receive less in the way of rewards and other considerations for a job well done.  This can often provide for a rather demoralizing work environment.  However, it is your job, as their employer, to keep morale high and ensure that their efforts on behalf of your business do not go unappreciated.  If you find that your employees seem to be suffering from a perpetual case of “the Mondays”, here are a few ways to help them perk up and get the overall attitude of the office back on track.</p>
<p>1.       Praise.  Most people work for money.  We all have bills to pay, after all, or we wouldn’t need jobs in the first place.  That said, your employees can get a crappy, time-wasting job anywhere.  The reason they work for you is that they get something extra out of it.  They stay because they gain a sense of pride and accomplishment from their work (you hope).  But if you want them to continue to feel that way, you need to let them know that you appreciate the job they do.  So make a point of publicly praising employees who exceed expectations and deliver during crunch time.  This will ensure that productivity and job satisfaction both remain high.</p>
<p>2.       Incentives.  You may not have the money to give raises and bonuses every year, but you can certainly find ways to offer incentives to your employees.  If, for example, you exceed sales expectations during the fiscal year, don’t just tell your workers they did a good job.  Show them that your success is their success by offering cash bonuses; or if you didn’t earn that much, at least take them out for a nice meal to celebrate as a team.  You may also choose to make the business “employee owned” if it gets large enough (making employees your sole stockholders) so that they have a vested interest in the success of your operation.</p>
<p>3.       Unexpected bonuses.  If you’re looking for a way to pep up the employees, think about giving one-time bonuses when they least expect it.  You may want to offer them a couple of extra paid days off after completing a particularly large project.  Or perhaps you can give them all gift certificates to a nice local restaurant when a big client renews their contract.  The point is to make your employees feel like they’re part of the process and that they will share in any success with a tangible payoff for their hard work.</p>
<p>4.       Team-building exercises.  If the atmosphere of your office has gotten a little ho-hum and the employees are starting to wear on each other’s nerves, it may be time for a different setting.  Close your doors for a day and take everyone out to a yoga retreat, the bowling alley, or a nearby park for a friendly game of softball.  It will get people to loosen up and interact in a positive way, improving the general mood of the office.</p>
<p>5.       Environmental factors.  If your office is dark and gloomy, it could be putting a damper on the morale of your employees.  You might be surprised by the difference you’ll see if you shell out the cash for a bright new paint job (typical office gray sucks the joy out of any room), full spectrum lighting (ditch the fluorescents for bulbs that emulate natural light), and some artistic adornments that will inspire your employees and quickly boost their morale.</p>
<p>Sarah Danielson writes for <a href="http://www.airpurifierguide.org/">Air Purifiers</a> where you can find various high end brands of air purifiers such as a <a href="http://www.airpurifierguide.org/tech/hepa-technology">Hepa air purifier</a> and many more.</p>
<p>&nbsp;</p>
<p><p>Copyright &#169; 2009 <a href="http://freesmallbusinessresource.com" title="Small Business Resource">Small Business Resource</a><br/><br/><a href="http://freesmallbusinessresource.com/how-to-boost-employee-morale/">How to Boost Employee Morale</a></p>
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