Why did you start your business? Did you start it so you would have a job? Did you start it because you wanted to be your own boss? Did you start it because you wanted to make a lot of money?
With the downturn in the economy, it's time to take a look at your business and determine why you got into your business in the first place. If you are not having fun in your business, perhaps it's time to re-think what you are doing. It's time to take a day or so and figure out your short and long term planning.
Ask yourself,
"When I started my business did I envision what I am doing now?"
"If not, what can I do to change my business so that it is what I dreamed it would be?"
If you are not having fun in your business, perhaps its time to make a change so that you do have fun!
What do you think?
Saturday, May 30, 2009
Thursday, May 28, 2009
The Chrysler Fiasco
I have been working on a story called "Is Capitalism Dead?", but I can't print it now, because it's completely out of date now that Ken Tinnerman has broken a story that the majority of the dealers on the Chrysler "cut" list were republican donors. For a copy of the story go here:
http://www.newsmax.com/timmerman/chrysler_republicans/2009/05/27/218757.html
However, it also turns out that 88% of all car dealerships are republican:
http://www.fivethirtyeight.com/2009/05/news-flash-car-dealers-are-republicans.html
How does this affect your business? Large business corporations frequently give donations to both parties to assist them with their lobbying efforts. Small business owners do not normally have this ability because 1. They don't have the money, and 2. They are usually giving money because they truly believe in the cause.
California is decidedly a Democrat state. The San Diego area (where I'm from) has typically been Republican. I'm sure that this will be a huge topic for the water coolers today, but here is my take on it:
First of all, if most auto dealers are republican, of course there will be a higher percentage of republicans on the "cut list".
Second, this is a huge black eye for whoever has made the decision. The person or persons should have realized that this would get out, and should realize the bad PR that this would have created.
Third, business owners shouldn't have to feel intimidated by their political beliefs. I realize that individual customers can show their displeasure by boycotting, etc, but business owners shouldn't be made to feel that the government itself can take over their business because of money that they gave to one side or another.
I suggest that Chrysler release the criteria that they used to create the "cut list". In today's Twittering world they'd better move on this fast.
What do you think?
http://www.newsmax.com/timmerman/chrysler_republicans/2009/05/27/218757.html
However, it also turns out that 88% of all car dealerships are republican:
http://www.fivethirtyeight.com/2009/05/news-flash-car-dealers-are-republicans.html
How does this affect your business? Large business corporations frequently give donations to both parties to assist them with their lobbying efforts. Small business owners do not normally have this ability because 1. They don't have the money, and 2. They are usually giving money because they truly believe in the cause.
California is decidedly a Democrat state. The San Diego area (where I'm from) has typically been Republican. I'm sure that this will be a huge topic for the water coolers today, but here is my take on it:
First of all, if most auto dealers are republican, of course there will be a higher percentage of republicans on the "cut list".
Second, this is a huge black eye for whoever has made the decision. The person or persons should have realized that this would get out, and should realize the bad PR that this would have created.
Third, business owners shouldn't have to feel intimidated by their political beliefs. I realize that individual customers can show their displeasure by boycotting, etc, but business owners shouldn't be made to feel that the government itself can take over their business because of money that they gave to one side or another.
I suggest that Chrysler release the criteria that they used to create the "cut list". In today's Twittering world they'd better move on this fast.
What do you think?
Wednesday, May 27, 2009
What the Tweet is Twitter?
Ok, I finally caved into peer pressure and I got a Twitter account. Kathe was already taken so I was forced to use KatheKline, even though I'm going to be changing my name someday because I got married. I guess I'll deal with that when I have to.
I found out that somebody had already twittered about my blog. I hope I have the terminology right. I'm not sure if I'm using the right words. Anyway, I'm going to be taking some marketing classes/seminars about this whole twitter thing and I'll let you know if it's any good.
Any one out there Twittering? What are your thoughts on this whole Twitter business?
I found out that somebody had already twittered about my blog. I hope I have the terminology right. I'm not sure if I'm using the right words. Anyway, I'm going to be taking some marketing classes/seminars about this whole twitter thing and I'll let you know if it's any good.
Any one out there Twittering? What are your thoughts on this whole Twitter business?
Tuesday, May 26, 2009
For PR, enter competitions!
I read a post written by Erin Jacobs titled “How to compete with the Big Guys”. http://www.startupnation.com/blogs/index.php/2009/05/22/how-to-compete-with-the-big-guys/
Basically she is recommending that in addition to normal marketing techniques, that small businesses should sign up for contests and compete.
Her company actually did this. She works for Vertical Marketing, a company that does email marketing and postcard mailing campaigns. The company sponsored a contest, http://www.startupnation.com/leading-moms-2009 and got press from ABC news, who ran a story on the winner.
Entering contests for your business makes a lot of sense. If you win the grand prize, of course you will receive some PR for that, but even if you don’t then you will get valuable feedback on your product or service.
I like her idea and I’m going to look for some ways that I can compete, or perhaps I’ll hold a competition for business owners? Now I’ll just have to think of what the competition will be and what the prize will be.
What do you think?
Basically she is recommending that in addition to normal marketing techniques, that small businesses should sign up for contests and compete.
Her company actually did this. She works for Vertical Marketing, a company that does email marketing and postcard mailing campaigns. The company sponsored a contest, http://www.startupnation.com/leading-moms-2009 and got press from ABC news, who ran a story on the winner.
Entering contests for your business makes a lot of sense. If you win the grand prize, of course you will receive some PR for that, but even if you don’t then you will get valuable feedback on your product or service.
I like her idea and I’m going to look for some ways that I can compete, or perhaps I’ll hold a competition for business owners? Now I’ll just have to think of what the competition will be and what the prize will be.
What do you think?
Monday, May 25, 2009
Business Leader Success Advice: A Break In The Supply Chain
I read the following blog today after my day off observing the Memorial Day Holiday: Business Leader Success Advice: A Break In The Supply Chain
The author does have a point that the bankruptcy of the auto dealers will hurt suppliers and other small businesses that rely on the auto makers for their livelihoods, but I am concerned that the way the government has taken over some banks, some insurance companies, and some auto manufacturers. It's not in the interest of the free market system. It's not in the interest of capitalism.
I understand that our economy needed to be propped up, and I understand that when the bailout occured we were at a very vulnerable position--that we could have entered a recession much larger than the one we are in. But I can't help feeling that we are putting off the inevitable, that if our auto industries can't survive on their own, that they won't survive at all.
And now that we are headed towards government ownership of private business, I can't help wonder...
Is capitalism dead?
The author does have a point that the bankruptcy of the auto dealers will hurt suppliers and other small businesses that rely on the auto makers for their livelihoods, but I am concerned that the way the government has taken over some banks, some insurance companies, and some auto manufacturers. It's not in the interest of the free market system. It's not in the interest of capitalism.
I understand that our economy needed to be propped up, and I understand that when the bailout occured we were at a very vulnerable position--that we could have entered a recession much larger than the one we are in. But I can't help feeling that we are putting off the inevitable, that if our auto industries can't survive on their own, that they won't survive at all.
And now that we are headed towards government ownership of private business, I can't help wonder...
Is capitalism dead?
Thursday, May 21, 2009
Free Choice is no Choice
Many of you are aware of the "Employee Free Choice Act", which basically takes secret votes for Unionization and turns them into public votes. I think that this idea is a threat not only to business, but also to our democracy system.
For help fighting this Act, please go to: http://www.uschamber.com/chambers/efca_gr_toolkit
What do you think?
For help fighting this Act, please go to: http://www.uschamber.com/chambers/efca_gr_toolkit
What do you think?
Wednesday, May 20, 2009
300 Dealers Sue
I've been listening to the news about the car dealers who have been given three weeks notice that they will be losing their dealerships.
http://www.chicagotribune.com/business/dow-chrysler-dealers-suit-may19,0,6471245.story
I heard one dealer last night tell his story that they were supposed to cut the bottom 14% of the car dealers, but he is actually in the top 2% and his franchise is being taken away and given to the dealer down the street. He will be getting no compensation for this transaction.
This morning I heard a similar story. A dealer in Florida who was just forced by the franchise to do a million dollars of upgrades to his dealership, will be losing his franchise in three weeks and it will be given to the dealer down the street.
His inventory won't be repurchased, and he won't be compensated for the money he had to borrow to do the upgrades.
I'm going to be doing more research on this issue, but it sounds to me like capitalism is in danger of dying.
Of course, bankruptcy courts have a lot of latitude, but to take from one to give to another... well that sounds like a different type of government to me.
What do you think?
http://www.chicagotribune.com/business/dow-chrysler-dealers-suit-may19,0,6471245.story
I heard one dealer last night tell his story that they were supposed to cut the bottom 14% of the car dealers, but he is actually in the top 2% and his franchise is being taken away and given to the dealer down the street. He will be getting no compensation for this transaction.
This morning I heard a similar story. A dealer in Florida who was just forced by the franchise to do a million dollars of upgrades to his dealership, will be losing his franchise in three weeks and it will be given to the dealer down the street.
His inventory won't be repurchased, and he won't be compensated for the money he had to borrow to do the upgrades.
I'm going to be doing more research on this issue, but it sounds to me like capitalism is in danger of dying.
Of course, bankruptcy courts have a lot of latitude, but to take from one to give to another... well that sounds like a different type of government to me.
What do you think?
Thursday, May 7, 2009
Aardvark, what a great tool!
Yesterday I signed up for Aardvark, which is a cool social networking site for question answering.
You ask a question, and in 5 minutes or so, somebody on the site sends you an answer.
I asked a question about my outlook account. I use two computers (three if you count my blackberry) and when I send an email from one of my computers it shows up on the other, but not vice-versa. I asked a question about why this is, and how to fix it. Within five minutes I had three people working on my case.
As of this writing, I still don't have my answer (a lot of suggestions though!) but I'll update you later to let you know if I ever find out the answer.
And if any of YOU know what the problem is, please let me know!
Wednesday, May 6, 2009
Blogger verification
I had to add this to verify that I'm the owner of this site.
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Isms and America...watch this 50 year old cartoon
I just watched this cartoon that was made 50 years ago. It discusses freedom and how it will be taken away if people subscribe to "isms". It's worth watching, but there are some "ads" inserted by the person who posted it to youtube.
http://www.youtube.com/watch?v=WB6p5QPVhPI
Makes you think about what's been going on the last 8 or 10 years....
What do you think?
http://www.youtube.com/watch?v=WB6p5QPVhPI
Makes you think about what's been going on the last 8 or 10 years....
What do you think?
Monday, May 4, 2009
401(k) and your employees
A lot of employers are unaware about a case that went to the Supreme Court that can affect them. It has to do with 401(k) plans. Before the ruling, which happened in Feb of 2008, it was assumed that employers were not responsible for what happened to an individual employee's 401(k) plan. This is no longer the case. Employees who have individual losses, and not just classes of employees, have the right to sue employers over the losses in their plan.
If an employer allows unwise investment choices, or extremely high fees, that employer can be liable for damages, so it is very important that an employer doesn't just "set it and forget it", when implementing a 401(k) plan.
Although the stock market is up as I am writing this, we all know how volatile the market has been over the last year or so. I think it is a wise idea to review your 401(k) plan at least once a year.
Luckily, getting a plan review isn't really that difficult. There are four key areas to look for when reviewing your plan, and you can get a full report on this by going to: http://www.californiabusinessresource.com/Why_Evaluate_Your_Business_es_401(k).html
Reviewing the plan, having an investment policy statement and sticking to it, maintaining records on educational meetings, etc, are all simple things that an employer can do to mitigate the risk.
There is also another way to mitigate the risk as well--outsource your 401(k) plan liability by engaging a Professional Employer Organization (PEO). By outsourcing your employees via a PEO, you are not only lowering your risk, but many times you are lowering the cost as well. I'll write about PEOs in another post. I think that in today's troubled times, employers must do everything that they can to lower the risk of getting sued by former or current disgruntled employees.
What do you think?
If an employer allows unwise investment choices, or extremely high fees, that employer can be liable for damages, so it is very important that an employer doesn't just "set it and forget it", when implementing a 401(k) plan.
Although the stock market is up as I am writing this, we all know how volatile the market has been over the last year or so. I think it is a wise idea to review your 401(k) plan at least once a year.
Luckily, getting a plan review isn't really that difficult. There are four key areas to look for when reviewing your plan, and you can get a full report on this by going to: http://www.californiabusinessresource.com/Why_Evaluate_Your_Business_es_401(k).html
Reviewing the plan, having an investment policy statement and sticking to it, maintaining records on educational meetings, etc, are all simple things that an employer can do to mitigate the risk.
There is also another way to mitigate the risk as well--outsource your 401(k) plan liability by engaging a Professional Employer Organization (PEO). By outsourcing your employees via a PEO, you are not only lowering your risk, but many times you are lowering the cost as well. I'll write about PEOs in another post. I think that in today's troubled times, employers must do everything that they can to lower the risk of getting sued by former or current disgruntled employees.
What do you think?
Sunday, May 3, 2009
Swine Flu
This last week I've been following the Swine Flu issue and have been wondering what will happen to my business if the Swine Flu really does become an epidemic.
I'm wondering if "Business Interruption Insurance" covers an epidemic. I emailed a friend of mine who is a Property Casualty Broker, but I haven't heard back yet. As soon as I do hear back, I'll let you all know.
I'm also thinking that I need to back up my work, and I'm going to sign up with an offsite backup service this week. Nothing like a good epidemic to remind me that I need to do a data backup! Actually I do regular backups that I keep on portable drives, but having an offsite backup is one additional step that one can take to protect the business.
For those of you who've met me, you know that I'm already sort of a "germaphobe". I don't like to shake hands with people just before or during a meal, and I've gotten a lot of flack for this in the past. I don't trust those little bottles of purel to completely kill all of the germs. Lately I've been surprised that people are still shaking hands during meals in light of the 24 hour flu coverage. This drives me crazy!
Anyway, I'll be updating you soon with the information on Business Interuption Insurance and other ways we can all protect our businesses if there was some sort of natural disaster.
What do you think?
I'm wondering if "Business Interruption Insurance" covers an epidemic. I emailed a friend of mine who is a Property Casualty Broker, but I haven't heard back yet. As soon as I do hear back, I'll let you all know.
I'm also thinking that I need to back up my work, and I'm going to sign up with an offsite backup service this week. Nothing like a good epidemic to remind me that I need to do a data backup! Actually I do regular backups that I keep on portable drives, but having an offsite backup is one additional step that one can take to protect the business.
For those of you who've met me, you know that I'm already sort of a "germaphobe". I don't like to shake hands with people just before or during a meal, and I've gotten a lot of flack for this in the past. I don't trust those little bottles of purel to completely kill all of the germs. Lately I've been surprised that people are still shaking hands during meals in light of the 24 hour flu coverage. This drives me crazy!
Anyway, I'll be updating you soon with the information on Business Interuption Insurance and other ways we can all protect our businesses if there was some sort of natural disaster.
What do you think?
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