In the summer of 1999, I ate gourmet pastries at work every Friday afternoon. It was a perk of working at a dot-com during the hey day, and as a fresh college graduate, I thought it was a standard part of the working world. But then the ceiling fell and our eclairs and cupcakes and chocolate truffle tarts suddenly stopped. Amid layoffs and benefits cuts and everything else, I still remember everyone griping about the lack of sweets around the kitchen.

This article in the Knowledge@Wharton newsletter explains the risk that companies take when they start messing with employee benefits--a move many small businesses have to consider during tight economies. If you have to cut perks, Wharton management professor Sigal Barsade reminds companies to consider the consequences: "I do not recommend taking away perks, but if a company has to, management needs to remember that taking things away from people almost always leads to feelings of unfairness," she says.

Posted by Shannon McRae on July 24, 2008 05:06 PM

If you haven't caught on yet that the Internet is a great tool for small business owners, check out this WSJ.com article about yet another way the Internet is putting small business owners on the same playing field as large enterprises—social networking.

That's right, Facebook, MySpace, Second Life, Twitter and all the other crazy social networking sites you've heard of can help you grow your business. How, you ask? By quickly and easily connecting you to other small business owners (or customers, or vendors) who can help you answer your tricky business dilemmas—and you don't have to leave the office to do it.

Want more tips on harnessing the power of technology for your business? Check back next week, when the August/September issue of MyBusiness will be live.

Posted by Lena Basha on July 23, 2008 02:14 PM

Many small businesses are a lot like a family--tight-knit, understanding and friendly. But at some point or another, you might have to deal with an employee who is not performing his or her job as expected, which can be difficult. To avoid a potentially awkward confrontation, this Tools and Tips article from NFIB.com offers some suggestions on how to approach the employee and work toward improving his or her job performance. Steps include:

• Reviewing the job standard with the employee to make certain it's known and understood


• Counseling the employee by implementing a plan that specifies what must be done to attain standard performance—and a reasonable timetable for doing so


• Regularly monitoring the individual's progress against the plan, and provide support and assistance


• Removing apparent obstacles to the employee's success, and make any reasonable accommodations needed to enhance employee performance

Posted by Megan Goodchild on July 22, 2008 04:20 PM

Worried you're going to have to let go of that new salesman or customer service representative you just hired a year ago? Think again, says Smart Money: "Conduct layoffs now, and you'll spend even more to train a whole new batch once the economy picks back up."

Instead, the smsmallbiz.com article suggests ways to cut back on payroll, either by reassigning tasks to an employee whose workload has dried up, reducing hours and wages and even asking for volunteers for a temporary (unpaid) leave of absence.

Are these the best solutions to the problem? Not by a long shot— but they sure beat having to let go a loyal, trained employee.

Posted by Lena Basha on July 21, 2008 04:51 PM

With the state of the economy right now, you can't afford to lose workers—even if they are getting ready to retire. Wondering how to keep your most seasoned employees? Check out this U.S. News & World Report article on how to convince the baby boomers in your company to stay and encourage them to pass their vital skills on to your younger workforce. Also, learn how small business owner Brian Hughes follows this practice in his Montvale, N.J-based environmental engineering company in the "Silver Linings" feature in our April/May 2007 issue.

Posted by Emily McMackin on July 17, 2008 04:33 PM

E-mail marketing is one of those things that, if you're not already doing it, you know you should be. For one, it's probably the cheapest ways to communicate with your customers. But just because it's cheap (well, cheaper than, say, designing, printing and mailing a postcard) doesn't mean you should try it all to figure out what sticks.

There are some best practices, and the business owners featured in this Smart Money article knows exactly what they are. Click on over for some tips on what to do and what not to do when it comes to e-mail marketing.

Posted by Lena Basha on July 16, 2008 04:18 PM

A good employee is hard to find, but that doesn't mean you should hire just anybody to join your team. For small business owners, choosing the wrong hire could cost more than wasted time and added stress--it could severely damage your bottom line.

So how do you go about hiring the right employees? This article on CNN.com's Fortune Small Business section offers tips for hiring well, including narrowing down job requirements, interviewing and checking references. But hiring the right employees is just the first part of building a winning team. According to this article on BusinessWeek.com, it's important to adjust as your company grows and your workforce's skills change, even if that means letting go of employees who no longer perform well in their positions.

Learn more about the importance of developing your hiring practices in this MyBusiness article.

Posted by Megan Pacella on July 15, 2008 09:45 AM

I marvel at my parents' relationship for many reasons, the main one being that they've owned a business together for almost 20 years. While they're the first to tell you there have some tense moments, overall I think they have a stronger relationship because of their business. I forwarded them this Wall Street Journal blog post about rules for making your business and marriage work. Even if your spouse doesn't work in the business with you (actually especially if they don't)--you need to be mindful of how your obsession affects their lives.

Posted by Shannon McRae on July 14, 2008 07:47 AM

Looking for a way to get your company's name out there? These days it seems like every business owner is turning to e-mail to spread the word about products and services. But with the deluge of information filling customers' inboxes, how do you get your message to stand out? A recent article in U.S. News & World Report details the success stories of three small-business owners who use e-mail marketing as their main avenue for reaching out to customers.

Desiree Scales, founder and CEO of Georgia-based Bella Web Design, keeps customers informed about the latest design technologies and trends through her e-mails, which offer tips and commentary on industry news. Online retailer Lisa Timon of Create My Keepsake, which sells scrapbooking supplies, uses a monthly e-mail newsletter to let customers know about sales, promotions and new products—a tactic that gives her an edge in a competitive market. Josh Molinari and Anthony Green rely on e-mail coupons to draw customers to their Fajita Grill in Syracuse, NY. These owners share their secrets about how to launch a successful e-mail marketing campaign and how to keep the momentum going.

Posted by Emily McMackin on July 11, 2008 09:25 AM

This is a topic that MyBusiness has covered for years, so it's nice to see the rising cost of health insurance for small business get some very mainstream coverage in the New York Times.

The article talks about states that are taking it into their own hands to break down the barriers and help more small business owners afford healthcare coverage for themselves and their employees. From tax credits to pooling options to caps on premium increases, states like Arizona, Connecticut and Montana are trying to find a solution to the healthcare crisis.

Read about the ways NFIB is fighting for healthcare reform here and here, and look for more on the topic at www.FixedForAmerica.com.

Posted by Lena Basha on July 9, 2008 03:37 PM

Just yesterday I was picking up a few things from the grocery store and remembered that I was out of dishwashing liquid. Quickly scanning the shelves I found my favorite brand of ecofriendly soap. I also noticed that I was paying a good bit more for it than the other well-known brands my mom has used my entire life. But I'm willing to do it. Protecting the environment and my family from harsh chemicals is worth a few more dollars.

The owners of this civil- and environmental-engineering firm are banking on the idea that a lot of other Americans are like me--willing to pay a little more to help the environment. The Wall Street Journal explains how Sherwood Design Engineers charges clients an extra 0.05 percent of their bill to put toward renewable-energy credits. So far, no customers have balked at the fee, says Bry Sarte, the firm's chief executive.

Posted by Shannon McRae on July 8, 2008 10:50 AM

Do you ever feel like there aren't enough hours in the day to finish everything on your to-do list? Each day, small business owners face multiple demands—and the smaller your operation, the more you must juggle. How do you accomplish all you need to without going insane? You might find some good advice in this Entrepreneur article published on the U.S. News & World Report Web site. The biggest key to accomplishing more in less time is to stay in control of your environment—instead of letting it stress you out, writes Romanus Wolter, author of Kick Start Your Success and Kick Start Your Dream Business.

Other tips Wolter suggests include:
•Setting a 10- to 15-minute time frame to accomplish a specific task and eliminating any distractions
•Looking for alternative ways to work on tasks or achieve results
•Clearing your mind of obstacles by writing them down
•Managing interruptions by writing down your next action step
•Giving yourself time to regroup

For more time management tips, check out "Stress Management" in the "Growth and Planning" section of www.NFIB.com/toolsandtips.

Posted by Emily McMackin on July 3, 2008 12:41 PM

Here's one from the "I never would have thought about that" file: The Wall Street Journal's Independent Street blog suggests that different shaped conference tables will get you different results in a meeting. Buy a round one and you'll find yourself leaving a meeting with a lot of loose ends. Long and thin? Your employees will form cliques, which will hamper teamwork.

The perfect conference table, the blog says? Rectangular and about five feet long.

Posted by Lena Basha on July 2, 2008 04:13 PM

No matter which news station I watch or newspaper I pick up, it seems that every media outlet only offers a bleak economic forecast. That's why I was intrigued when I saw this article on BusinessWeek.com, which argues against getting overly concerned about the economy.

The article points to a recent op-ed in the Wall Street Journal entitled "Life is Good, So Why Do We Feel So Bad?," which states, "It would seem that there really are two...American economies—the real economy and the perceived one." The article also points to a 2007 poll asking Americans if they consider themselves part of America's "haves" or "have-nots." Surprisingly, 75 percent of respondents consider themselves part of America's "haves."

Obviously higher fuel and food prices, and a slumping market spell out some trouble for small business owners and other Americans, but it's nice to hear a different viewpoint of the economy. Check out the article for on our economy's bright side.

Posted by Megan Pacella on July 1, 2008 11:40 AM

We've been in budget discussions at my house recently. It's something we've meant to do since the beginning of the year, and here were are halfway through 2008. We finally decided it was time to get serious. I felt better about our procrastination when I read this AP article. Turns out mid-year is a great time to revisit financial goals and budgets--especially for small business owners and especially during this kind of economy. Things to look for: how new tax provisions will affect your business (like the increased mileage deduction and a near doubling of small-business expensing limits), whether you need to be more concerned about receivables and if there are any ways to save on energy costs.

Posted by Shannon McRae on June 30, 2008 07:59 AM