11/19/2009
Dear Dan: The last time I tried to raise prices it was a disaster. Customers revolted. But I’ve cut costs as far as I can, and profits are too thin. How can I raise prices and not lose business? — Once Burned, Price Shy
Dear Price Shy: Millions of small business owners across America seem convinced that raising prices in a bad economy is financial suicide. Held hostage by industry pricing and recession fears, many business owners believe that working harder and earning less is the only way to survive.
But that’s wrong, says pricing specialist Dale Furtwengler, a CPA and president of Furtwengler & Associates, a pricing consulting firm. Cutting costs is like dieting. It rarely produces lasting results. Furtwengler contends that the economy isn’t the issue. Rather it’s the inability of most small business owners to understand the value in what they sell, to make changes if necessary and communicate that value to customers. Read the rest of this entry »
No Comments »
Posted by Daniel Kehrer
11/05/2009
Want to really target your advertising in a cutting edge medium that could surpass even the Internet in terms of advertising growth in the next few years? Then take a look at the emerging field of digital out-of-home (DOOH) advertising, also called out-of-home video advertising.
DOOH delivers hyper-local, personalized and engaging messages to highly specialized, captive niche audiences on out-of-home screens (the so-called “4th screen”) popping up in millions of locations everywhere.
This, say the media pundits, is sure to be the next major growth area in local advertising. It’s laser-targeted stuff. By putting DOOH in your advertising arsenal, you can place video ads and content in front of just the right people, at just the right time in just the right place. Here’s how: Read the rest of this entry »
No Comments »
Posted by Daniel Kehrer
11/03/2009
When our “new” (well, kind of) corporate parent’s PR department called recently wanting to profile me on the company’s internal “Thought Leaders & Trendsetters” web page, I naturally thought it was either a hoax, or just another corporate whim that would quickly fade. But hey, my photo might (and now does) appear right next to the CEO himself, so why not? And later Tweeting my kids that I’m a trendsetter? Priceless.
Still…I’m skeptical. This “thought leader” thing seems like just another corporate buzz word. Then, bam! An email arrives from a very smart, Chicago-based marketing and PR person named Jean Van Rensselar explaining in abundant detail just how cool and beneficial it really is to be a “thought leader” in business —especially a business-to-business type business. Buzz word? Banish the thought, says Van Rensselar. Read the rest of this entry »
No Comments »
Posted by Daniel Kehrer
11/03/2009
By Jean Van Rensselar
A thought leader is essentially a trusted resource. And in an information economy, a trusted resource is extremely valuable. A thought leader can be an individual or a company with a thorough mastery of its business, its customers and the dynamics of the broader operating environment. The bottom line is that a thought leader has an enormous industry edge. It doesn’t matter what industry you’re in – whether yours is a Fortune 1000 company or a bakery in a small town – thought leadership will propel your business in ways that you could never imagine. With the right approach and a small investment, results will materialize quickly.
To be a thought leader – you need to consistently articulate and convey insightful information that listeners and readers value. Truly insightful information is a rare commodity. Here are the benefits; how to become a thought leader; and mistakes to avoid: Read the rest of this entry »
1 Comment
Posted by Daniel Kehrer
11/02/2009
Need a small loan to start or expand a business – a so-called “microloan?” If so, there’s good news. Despite what you might have read lately, microloans of $500 to $50,000 are available through a variety of private sources, government programs and even non-profits. Some of them might even surprise you.
Keep in mind, however, that you’ll need to qualify for the money, submit an application, have a sound business plan or idea, and – gulp – will have to pay back the money. Still, opportunities to secure micro financing for a business startup have broadened.
Here’s where you’ll find the money: Read the rest of this entry »
No Comments »
Posted by Daniel Kehrer
10/29/2009
Merchant account chargebacks are a dreaded event for any business that accepts credit or debit cards. They are expensive, time consuming, subject to fraud and just downright annoying.
Chargebacks are not the same as refunds which are initiated on your end when, for example, a customer returns a product. Rather, chargebacks are initiated through the credit card issuer because the customer has challenged the charge or filed some kind of complaint. It amounts to a reversal of the original transaction, and the merchant gets stuck paying a chargeback fee to boot. Read the rest of this entry »
1 Comment
Posted by Daniel Kehrer
10/28/2009
After a year of delays, the Federal Trade Commission’s new FACTA Red Flags rules that have caused great fear and confusion among small and medium businesses, are in effect as of November 1, 2009. The FACTA Red Flags rules will require millions of businesses (large and small) that grant credit to establish and implement identity theft safeguards for customers. This could include auto dealers, jewelers, furniture companies, health care companies, mortgage brokers, doctors, dentists, equipment leasing dealers and suppliers of various types — many of which are still unaware of the looming compliance issues. Read the rest of this entry »
1 Comment
Posted by Daniel Kehrer
10/28/2009
If your business pays wages, you must file quarterly IRS Form 941 reports to process tax payments and reconcile tax withholding. The next deadline is November 2, 2009. But don’t sweat it — file your IRS 941 forms the easy way with a low-cost online service like FileTaxes.com. Read the rest of this entry »
No Comments »
Posted by Daniel Kehrer
10/27/2009
The time has finally arrived. After multiple delays stretching a year, the much-feared FACTA Red Flags Rules — new anti-fraud legislation that requires millions of credit-granting businesses (both large and small) to implement identify-theft safeguards — take effect just after midnight on Halloween (technically, on Nov. 1, 2009). The Federal Trade Commission (FTC), the rules enforcer, had previously delayed the effective date of FACTA requirements three times.
The problem is this: Despite an FTC effort to educate small businesses and other entities about FACTA red flags requirements, confusion still reigns over what businesses are covered. Even FTC Chairman Jon Leibowitz himself has suggested that Congress may simply have written the law too broadly. Leibowitz ordered his staff to beef up its efforts to educate businesses about compliance and provide more clarity on which businesses are covered, and what they must do to comply. BUT NOTE THIS INSIDE INFO: FTC insiders say the Commission is highly unlikely to take enforcement action against businesses that know their customers or clients individually, or if they perform services in or around their customers’ homes, or if they operate in sectors where identity theft is rare and they have not themselves been the target of identity theft. Read the rest of this entry »
No Comments »
Posted by Daniel Kehrer