Small Business Advisor Newsletter

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The Small Business Advisor Newsletter for June, 2002

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CONTENTS
    Notes, tips, etc
    The “Ultimate” Reminder Tool
    Don’t Forget the Telephone!
    Selecting an Attorney for your Small Business

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NOTES/TIPS/etc
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COMPUTER TIP. Got protection? Once again the larger computer magazines voted Norton Antivirus 2002 the best choice for virus software. Get it now!
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NEW POSTAGE RATES. Sorry, folks, it’s another increase. When shipping be sure to check the cost of using UPS or FedEx … might be cheaper. These rates are effective June 30, 2002.

First Class Mail – 1st ounce: .37
Additional oz - .23
Stamped Card - .25
Priority Mail, up to 1lb – 3.85
Express Mail, up to 1/2lb – 13.65
Express Mail, over 1/2lb, up to 2lb – 17.85
Certified Mail charge – 2.30
Return Receipt – 1.75
Insurance, up to $50 – 1.30
Insurance $50.01 to $100 – 2.20
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THE LIBRARY. Don’t forget your local library as a source of business information. For example, your reference section most likely contains the following items that, if purchased, cost hundreds of dollars:

Magazine Advertising Source (SRDS). A giant volume containing listings
of thousands of direct mail lists, mailing list compilers, brokers and
managers.

Phone books from every major city in the U.S and most other countries.

The Thomas Register. 20 volumes of products and services from
Abacuses to Zoo equipment; 2 volumes of company profiles, 3
volumes covering the food industry and 8 volumes of company
catalogs.

Tax guides

Periodicals covering dozens of different disciplines.

The Standard Periodical Directory (Oxford). Every print publication in
the U.S. and Canada including newspapers, newsletters, journals and
catalogs.
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LONG DISTANCE SERVICE tip. Did you know that your long-distance carrier could change your rates without any notice? Be alert for "rate-creep" by calling periodically or carefully checking your statement. Alternatively, some carriers offer multi-year plans in which the current rate is guaranteed.
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THE “ULTIMATE” REMINDER TOOL
by Robert Sullivan

Staying organized will save you a lot of time and we all have our own methods. We frequently get asked for a good method for remembering tasks that need to be accomplished at or by some future date. Turns out the “low -tech” solution is one of the best - a “tickler” file.

A tickler file is simply a file where you store reminders of items to be accomplished at some future date. The easy low-tech way is to purchase a “fan folder” with pockets for each day of the month (available at most office supply stores). Place your reminder in the appropriate slot and each morning check that days’ contents. For a higher tech solution, write notes to yourself using your software calendar program (if it has provisions for doing so - most do).

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DON’T FORGET THE TELEPHONE!
By Arthur A. Hawkins II

With all the hoopla over the Internet and the World Wide Web don't forget
about another instant interactive form of communication - the telephone.

Be in more than one place at a time. Use all your resources to give yourself
an added "personal" reach around the globe, instantly. Yes, the telephone,
fax, e-mail and computer are real power!

"Reach out and touch someone." Save time and money. You can: network,
negotiate, sell, buy, find or present info, have meetings, wheel & deal,
import/export, drum up business, advertise yourself and business, do
research, say thanks. . . When sources give you info - - dial up to track it
down or confirm it. In today's fast track world, this helps you win the race.

Telephone, (e, voice, snail) mail, computer, fax: the cheapest ways to stay
in constant contact with sources (also pagers, wireless & interactive
devices, video conferencing. . .). When you want to obtain Income & Info fast
you must develop different channels of communication with many sources. You
need your distribution network for easy access, advice and a free flow of
info. Use the power of the Direct Market.

"Let your fingers do the walking!" Phone directories are the way to find
income, help, info, free money. . . The White Pages directory has people-
the BLUE pages section has a list of Government Agencies to contact and the
Yellow Pages (Consumer, Business-to-Business) directories list most
businesses (in area) you need to know. Yes, phone books list names, numbers
and addresses too. Find the proper people and places to contact by simply
turning pages. Why not save directory assistance costs: 411 or (area code)
555-1212? Directories give you the info, all you do is dial and speak up.
Simple, isn't it? Why not rest your feet? Maximize the use of your time,
resources and effort. Phone first!

Here's a quick lesson in phone manners: Smile while you are talking--the
callee will See & Feel it. Be polite to everyone you speak with. Know what
you are going to say and to whom. Gather all info you need before calling,
and Use it! Never forget your purpose for calling. Execute with authority.
Practice first. Win by being professional, confident and in control.

Make the most of each call. Don't waste time: have a pen & pad by the phone
to jot down any names, numbers and info you run across. Speak clearly and
loud enough so each listener understands you. Don't put anything in your
mouth when on the line. Be prepared to be put on hold and/or frequently
transferred from place to place. Find out exactly how much waiting time you
have. Leave a clear concise message if you have a long wait. Ask for new
#_numbers_# before being transferred. Answer the phone promptly (before 3
rings) with energy and enthusiasm. And return all in-coming calls and
messages promptly! Know what to expect. Plan ahead and you will reap the
rewards.

"The early bird catches the worm." Speak directly with decision makers by
calling early (7:30am-10am). Late calls (after closing, e.g, 5pm) can be
quite effective too. In general avoid "rush hour": lunch time and closing
time. You don't want a distracted callee and rushed talk, DO YOU? Yes, there
are times when it's effective!

Unfortunately, you may encounter rude and ignorant people. Never sink down
to their level. It could be you caught the best person at the worst time. So
don't retaliate with rudeness. Smile so they can See & Feel it. If there are
further problems, tactfully and politely try to calm them. If you eliminate
their bad attitude then proceed with your business. If not, call again
later. Use the phone/fax to get whatever you need, including referrals, in a
hurry. And always remember the phone/fax is your friend and ally.

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SELECTING AN ATTORNEY
by Raymond M. Klein

One professional you will need to deal with in your small business is an attorney. The best time to search and find an attorney is BEFORE you need one! There are many ways to find an acceptable attorney among which are personal referrals and recommendations from your banker, accountant, and other owners of small businesses. Do not use an attorney referral service … these are simply “name brokers.” In the process of selecting an attorney, you will be interviewing and you will have to ask relevant questions. Raymond M. Klein’s book, “Putting a Lid on Legal Fees (How to deal effectively with lawyers)” includes a listing of questions you may use during these interviews. It is reproduced below with permission of the author.

Questions for your interview of a prospective lawyer:

Conflict
1. Do you have an existing or prior client who may have a legal conflict with me or who may be a business competitor?
2. Have you or your firm taken a position in Court inconsistent with my position?

Experience
1. What areas of law are your personal specialties?
2. How long have you been working on these specialties?
3. Have you handled a matter like min? How often?
4. (If litigation) How many and what kind of Court trials have you personally handled in the past 3 years?
5. In what areas of law do other lawyers in the firm have an expertise?
6. What are the alternative ways of dealing with my project (or case)? What specific action do you recommend?
7. Do you see obstacles or problems with my project (or case)?

Staffing
1. Who will be in charge and responsible for my matter?
2. Which other lawyers will work on my matter and what is their level of experience?
3. If other lawyers will do substantial work, may I meet them now?
4. What is the size of your firm?
5. Do you have the time and the interest to work on my project?

Billing and Cost
1. What are the hourly rates of the persons who will work on my matter?
2. What fraction of an hour is used in billing?
3. Will you provide detailed time records that include date, service, time, and the name of the person doing the work? [This is a MUST … ed]
4. How is travel time in town billed?
5. How is out-of-town time billed?
6. How is Court time billed?
7. Do you charge for photocopying, computer research, word processing, overtime, postage, preparation of bills, or other such items? If so, how much? [Some firms charge very high rates for photocopying … you may save by doing this yourself and ensuring copies are not made unless you approve it first … ed]
8. What is your estimate of the total hours for the project? By each stage? [If you can’t get an answer to this question, find another lawyer … ed]
9. What is your estimate of the total cost? By each stage? [same comment as above … ed]
10. What is your estimate of the time for completion?
11. Do you require an advance “retainer” against future bills? How much? Will I get back any unused portion?
12. Are you willing to prepare a budget?
13. Do your current clients participate in their legal matters? Do they do some of the work that does not require a lawyer’s expertise? [This approach can save you a lot of money! …ed]
14. What factual investigation, first drafts, or other work could I do in order to save you time?

If you are not COMPLETELY happy with any of the answers, keep looking! [ed]

(These questions were excerpted from “Putting a Lid on Legal Fees” by Raymond M. Klein. The book may be ordered toll-free by calling 1 (800) 445 6429)

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