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The
Small
Business Advisor
Newsletter for April,
2003
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CONTENTS
Notes, tips, etc
New Technology Column!
Business Succession
Make Every Minute Count
Increase Website Traffic
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NOTES/TIPS/etc
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What are the top filing errors made by small businesses and self-employed
taxpayers? Find the answer here: http://www.irs.gov/businesses/small/article/0,,id=107767,00.html
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USEFUL NEW WEBSITE, http://www.itools.com. Use it to find people,
websites, discussion groups; look up words (dictionary); translate
text (type it in) or translate an entire webpage!
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RETIREMENT PLANNING. Don’t forget customized KEOGH’s
as a possibility. They can be expensive to setup but have many unique
advantages. Check with your attorney or tax advisor for details
if it one might be right for you.
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TRAVEL. Discount website fares can change. One that has been the
best for you may not always be. Check at http://www.sidestep.com,
a site that presents information from various travel sites to allow
you to make a better choice.
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Legal Information for your business: http://www.lawoffice.com.
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We are pleased to introduce Greg Welsh, who will write a monthly
column on information technology covering subjects important to
small business owners. Greg has more than twenty years experience
in the field with organizations and projects of all sizes, from
small start-up companies (he's started two consulting firms of his
own) to larger organizations with thousands of people using the
information technology solutions he has put in place to drive the
business goals in support of the company mission.
There are three main threats to your business's
vital information flows: file and service-based attacks from viruses,
worms, and Internet intrusions; data loss through catastrophic failures
of storage media or disasters (think tornadoes, floods, and terrorists);
and employee actions, whether they are accidents or malicious attacks.
You may think that this is an area that will cost lots of cash,
but the simple fact is that keeping your computers and network up-to-date
with the latest patches and system updates goes a long way toward
minimizing your exposure to viruses, worms, and other hacker exploits.
In fact, the greatest risk from virus and Internet attacks is loss
of productivity, not loss of data. However, even if your data is
completely backed up and can be recovered completely if destroyed
by a virus, the loss of an hour's, or a day's work, can erase hard-won
profits.
Read the entire article discussing your system's
vulnerability to file- and service-based attacks and how to take
simple steps to reduce your exposure here!
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BUSINESS SUCCESSION
by Robert Sullivan
Guess what? You are not going to live forever.
Thinking about business succession is about as popular as writing
your will – but it is a big mistake not to plan early. Not
doing so can cause big problems later.
Failure to plan for business succession can result
in huge monetary loss not to mention the loss of the business itself.
Taxes can easily take 50% resulting in bills that can only be paid
by selling the business.
The small business owner must carefully think through
the process of succession. Who to leave the business to? What to
take from the business? The major succession alternatives include
Selling the business (possibly to employees)
Turn over the business to a family member
Leave the business to a trusted employee
Take the company public (IPO)
The right choice is never easy and it’s a
good idea to get your professional advisers involved to ensure you
understand the issues involved.
By planning early you will have the option of investing
time in a family member and or employee(s) to ensure they have the
background to continue the business. Additional training may be
required. Or, you may find that you need to search for someone new.
Planning early also allows you to let existing customers become
comfortable with any new people they will be dealing with.
Ensure that any “secret” processes
or formulas are made available to those who will succeed you.
If you have planned early and carefully, when it’s
time you may simply step aside knowing the business will continue.
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MAKE EVERY MINUTE COUNT or, Time is Money!
by Robert Sullivan
You’re a one-person business! What gets done
is up to you – success or failures belong to you. It’s
a lot of responsibility but the freedom is worth it all. Right?
Right? I know, it’s easy to get overwhelmed and it seems that
there is simply not enough time to do all you want to do! There
is a way out of this dilemma – technology!
There is little doubt that technology has allowed
the small one-person businesses to flourish right under the noses
of the big guys. We’re more flexible, have less inertia, provide
more personal service, and respond to needs of customers. But we
need to ensure that we make good use of every minute and this means
thinking through the various tasks we perform and decide how technology
can assist. Here are a few specific examples –no doubt you
will come up with more!
1. Answering the telephone. Ah, the phone –
a great tool and a great irritant. Save time by having a good answering
machine (or, if absolutely necessary, an answering service). How
do you spend time on the phone? If you find that you’re frequently
answering the same questions consider an answering system that allows
the caller to depress different numbers for various snippets of
information.
2. Do you spend time driving to the local copy
center? Maybe you should have your own copier or possibly a faster
printer – even a color printer which are becoming very inexpensive.
Think about the cost of trips in money and time when determining
if you should really spend $500 on a newer, faster printer.
3. Answering questions; presenting information
to clients. Necessary but time consuming. Consider the Internet.
This wonderful tool is amazing. Place a listing of frequently asked
questions about your product or service online; a catalog; details
about your background; customer endorsements; and other details
that a customer may want to view. Advertise your website just like
you would advertise your telephone number.
4. Mailing and shipping. The last thing you need
is to waste time in lines at the post office! Don’t do it.
Get yourself a postal scale and meter (Pitney-Bowes has an inexpensive
program). Use the postal service Internet site (www.usps.gov) to
determine costs and the most economical ways to mail.
5. Use e-mail rather than the telephone. Much more
efficient and no playing “tag.”
6. Automate you banking. Sign up for your banks
internet-based services. If they don’t offer this service,
look for another bank!
Make every minute count!
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IS YOUR WEBSITE OPTIMIZED FOR SEARCH ENGINES?
by Scott Buresh
For the technically inclined, there are numerous
places on the web to get detailed, in-depth information on how to
properly optimize a web site for the best possible search engine
rankings. However, many people don't care about the technical aspects
of search engine optimization- they just want to know what is wrong
with their site (and how to fix it). What follows is a practical
guide that covers some of the most basic search engine issues. It
is in no way intended to be comprehensive, but it should help the
average site owner determine whether their site is optimized, and
if not, how to make some simple changes to improve their search
engine rankings.
Issue #1- The Title Bar. On your homepage, what
does the title bar say? If you use Internet Explorer, this is the
blue bar at the extreme top of the window that displays your page
(it may include the words "Microsoft Internet Explorer"
at the end). Does your company name appear here by itself, when
you have more important keywords to emphasize? Worse yet, does it
say "untitled"? This area should contain the most important
keywords you see on your homepage (Don't have any text on your homepage?
See issue #2). To check the rest of your site, click on any link
from your homepage and see if the words in this title bar change
for each page in your site. They should- and each title bar should
contain the most important keywords from their corresponding page.
Note: Very long keyword strings in the title bar should be avoided-
six words or less is optimal. Also, words in the title bar should
not repeat more than once, and identical words should not appear
next to one another.
Issue #2- Content. Search engines all try to list
sites that contain good content. Translation- you need words on
your pages, not flashy graphics. This text should contain the most
important keywords that your potential customers would use to find
you on a search engine. If you have very few or no words on your
pages, it is a good idea to add some, ideally around 250 per page.
For aesthetic reasons, this is not always practical, but even 100
well-written words can have an impact on rank. It is also important
that you make certain that the words are written in a language the
search engines can read. Using your mouse, bring your cursor down
to the text on one of your web pages. Clicking and holding down
the left mouse button (make sure you aren't near a link) see if
you can highlight just one or two words of the text. If you can,
everything is most likely fine. If nothing happens, or you can only
highlight a large block, it is most likely in graphic form. Graphic
text needs to be replaced by standard html text to allow the search
engines to read it. Your web expert should have no problem understanding
what you require, and the transition should be fairly simple and
affordable.
Issue #3- Meta Tags. Some people believe that meta
tags are the Holy Grail of search engine optimization. Unfortunately,
their effectiveness is limited (many engines ignore them completely),
but they can play a limited role in determining rank on some engines.
To see if your site has meta tags, go to your home page. Click the
"view" command at the top of the browser window. From
the pull-down menu, select "source". This should open
up another window that shows your code. Much of this may seem indecipherable,
but there should be two commands there (usually near the top of
the code). One of these says meta name="description" content=
and will go on to describe your company and products, and one says
meta name="keywords" content= and goes on to list applicable
keywords for your site. If these tags are missing, have your web
expert insert them.
Issue #4- Links. Link popularity has become increasingly
important to search engine rankings, with 19 of the top 20 engines
using it in their ranking algorithm. Simply put, search engines
give a ranking boost to sites that have incoming links from quality,
related sites. There are numerous free tools on the web that will
allow you to see what sites link to yours (just type "free
link popularity check" in your favorite search engine). If
you don't have many sites linking to yours, it may be time to start
a link building campaign. This is where you find quality, non-competing
sites in your industry and ask them if they would like to exchange
links. An additional benefit of link exchanges is that these links
can bring you additional, highly targeted traffic.
Conclusion
Although following the above guidelines will by no means guarantee
you top page rankings for your keywords, fixing one or more of the
problems should have a very positive impact on your search engine
rankings. For the volumes of potential customers that a search engine
can send to your site, it's certainly worth the effort.
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