|
We hope
you find this arcthve useful. A subscription to The Small Business Advisor
Newsletter is free. Subscribe now - it's easy!
The
Small
Business Advisor
Newsletter for October,
2002
========================
CONTENTS
Notes, tips, etc
Health = Productivity
Watch the Details!
========================
NOTES/TIPS/etc
---------------
EARN EXTRA INTEREST WITH A SWEEP ACCOUNT. A sweep account is a brokerage
or bank account whose cash balance is automatically transferred
into an interest-bearing investment, such as a money market fund.
Use sweep accounts to earn interest on surplus cash. At the end
of each business day, a sweep account would transfer excess funds
into an interest-bearing account, earn overnight interest, and make
the funds available the next day.
---------------
SHOPPING. Buying on eBay can be a great way to save on office products,
equipment, etc but make SURE you are getting a good deal by doing
a bit of research. Just don’t assume. I have seen equipment
sell on eBay at a higher price than retail at a local store! Ouch.
---------------
ENROLLED AGENTS. These folks are licensed by the federal government
and specialize in business tax matters. They can be an alternative
to a CPA at a lower cost! Check for an agent near you by calling
the National Association of Enrolled Agents at (301) 212 9608. They
have about 10,000 members. Also check their website at http://www.naea.org.
---------------
BUSINESS FINANCING. Don’t forget your credit union! Nearly
all credit unions allocate some percentage of their total assets
to commercial lending.
---------------
========================
HEALTH = PRODUCTIVITY
by Bob Sullivan
I don’t think anyone would argue with the
premise that a healthy employee tends to be more productive than
an unhealthy counterpart.Many smaller companies ignore this obvious
fact. Since the cost of employees is expensive (don’t need
to remind anyone of that!) it makes good sense to do as much possible
to ensure maximum productivity. Help your employees stay healthy!
Here are a few suggestions to get you going. Check with your tax
advisor for possible tax advantages.
Check with a local health club to see if you can
obtain a company membership that would allow each of your employees
to join at a reduced cost. (You might even think about paying for
the memberships!).
Replace in-house “junk food” machines
with healthy food counterparts – fruit, for example.
Start an in-house league of some sort – basketball,
touch football, etc …
Keep your premises smoke-free!
Have in-house facilities to support employees who
jog or “power walk” at lunchtime. (Locker room, shower).
Sponsor a company sporting event. Make it competitive.
Give prizes!
Visit http://www.hopepublications.com/ for health-related
posters that can be personalized for your company.
If your business is large enough you may be able
to add a small workout area with a couple of “universal”
machines” for employee use.
Provide parking space for bicycles, or if possible
a space inside.
State a “healthy employee program.”
Encourage better health with contests such as a prize for the employee
losing the most weight or who bicycles the most miles, etc …
be creative.
========================
(ed note: This is a longer than usual article for the newsletter
but it offers such good advice it deserves the space)
ENTREPRENEURSHIP MEANS NEVER TAKING EYES OFF THE
DETAILS
by Azriela Jaffe, copyright 2002
Most people assume that the exhaustion that can
accompany entrepreneurship is primarily related to the sheer numbers
of hours worked. That could be, but the real source of burn out
could be the fear that keeps the business owner awake at night because,
heaven forbid, he or she might have lost track of a crucial detail,
one which can bring the company down. Here's a metaphor on this
topic that came to me recently:
I am happy to say that I am typing this column
with two hands, at normal speed. This is not something to be taken
for granted. Until recently, three fingers on my right hand were
bandaged, forcing me to type awkwardly with my left hand and two
fingers of my right. This is more than a nuisance to a professional
writer with deadlines looming.
With the amount of cooking I do, it's really a
miracle that I haven't had a kitchen accident more often. Distracted
by children, my business, and usually rushing, or to say it nicer,
"maximizing my available time", an army of angels must
be working overtime to keep me and my children safe in the kitchen.
On this particular day, I was cooking chicken for
our Friday evening sabbath dinner. Per usual, the chicken was roasting
for a few hours in a big roasting pan. I donned a thick oven mitt
on both hands, brought out the chicken to be examined and stirred,
and discovered that the oven mitt made it too difficult to handle
the spoon I was holding. So, then I did something stupid.
I removed the oven mitt from my right hand, stirred
the chicken, and then grabbed the lid to place it back on the pot.
That's the lid that had been roasting in the oven for two hours.
That's the red-hot lid, the one that instantaneously burned three
of my fingers because I grabbed it without putting the oven mitt
back on first.
Seconds later I was cursing, under my breath of
course because the children were nearby, while running my fingers
under cold water. No amount of ice, medicine, homeopathic remedies,
and prayers eliminated the inevitable -- big blisters on three fingers,
incredible pain, and a week of awkward typing. Everywhere I went
women approached me and said, "burned your fingers in the kitchen?"
Seems like every cook has a story, and bandaged fingers inducts
a woman into some kind of universal club to which no one wants to
belong.
I had a lot of time, staring at these bandages,
to think about how stupid that mistake was. Just a fleeting second
when I neglected to properly protect my fingers, and I could have
destroyed that which gives me my livelihood. Counting slowly, my
mistake took all of about five seconds. I'm lucky. The burns are
healing. There won't be any lifelong repercussions to my stupidity.
But what about the entrepreneur who has a bad day,
slips up on just one detail, just one out of thousands, but oh,
that one -- that's not a detail to be missed. Even the most fastidious
of entrepreneurs is entitled to a bad day every now and then, isn't
he? It's not human to expect perfection, day in and out, often on
less than five hours of sleep a night.
Many of you are nodding your heads in agreement.
You know that what I say is true, and yet, you also know that this
standard of perfection is what we hold ourselves to when we are
launching a new business or keeping it solvent. Nothing short of
perfection, no room for mistakes.
I'd like to deal with reality for a moment. You
are going to slip up sometimes. Your fingers are going to get burned.
You are a human being, not a robot. The question is, how can you
protect yourself and your company from irreversible damage, should
you suffer a temporary loss in judgment -- and you will!
I have no easy answers, because to offer them would
be insulting and pollyanna. The truth is, you CAN destroy your company
in one bad day. Don't be haughty enough to assume that you can get
yourself out of any mess you might create. So, what's the equivalent
of donning oven mitts before putting your hands into the entrepreneurial
fire?
One, don't make decisions alone. Lean on advisors,
partners, employees, customers, friends, your spouse, and a whole
team of people who keep you accountable and thoughtful about your
actions before pursuing them.
Two, beware of rushing. I know you have to seize
the moment. But, if you don't do your due diligence, you might just
end up with burned fingers and a major set back.
Three, if your
fingers get burned, bandage them up, whine and moan for a day or
two, and then put the mitts back on, and start cooking again. Chances
are good, if you spend enough time in the kitchen, you are going
to get burned.
Return
to top of page
- Back to Home Page
- Back to Archive Index
|