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Take a Nap

(Business Trends, HR and Management)

What happened to the days of laying your head on your desk and drifting off for 20 minutes of bliss? Though most of us haven't enjoyed naptime since elementary school, some scientists say naps aren't just for 6-year-olds. According to this washingtonpost.com article, "sleep scientists have discovered advantages to napping, which they view not just as solace but also as something akin to brain food."

The article cites a 25-year survey conducted by researchers at the University of Haifa in Israel showing that naps, when taken in the workplace, can increase productivity and reduce "general crabbiness." Other experiments echo those findings. For example, Matthew A. Tucker of Harvard Medical School discovered that a 45-minute nap can enhance the ability to perform tasks relying on memory.

As a result, some companies are making nap rooms available to their employees, or encouraging them to relive their elementary school days by resting at their desk. One New York City sleep salon, Yelo, is taking advantage of the trend by offering a place for clients to nap for 20-to-40 minutes at a time.

To read more about the growing acceptance of napping, and to determine if you could use more naps, check out the book Take a Nap! Change Your Life, by Sara Mednick, or utilize her website.

You Be the VC

(Events and Resources)

In September, we mentioned an entrepreneurial competition to find some of the best new business ideas in America. It's called You Be the VC, and it's an open call to entrepreneurs with brilliant tech ideas. Bang Ventures, a New York-based investment firm, came up with the contest to allow people from all walks of life to compete for resources to start their own companies. 

The first few stages of the competition have concluded, and now, the fate of the19 finalists is in your hands. Cast your vote for the most deserving entrepreneur after viewing the video elevator pitch of each finalist. The top ideas range from paperless coupons to royalty-free media to advertising-subsidized wireless services.

Your vote must be submitted online by 11:59 p.m. (EDT) on Wednesday, April 30. Winners will be announced on May 23. The winners will spend the summer in Cambridge, Massachusetts, working with a team of expert consultants, advisors and programmers to build their dream startup company.

 

Can Stimulus Checks Boost the Economy?

(Business News)

Today, four days earlier than announced previously, the United States Treasury Department will start depositing stimulus payments into Americans' bank accounts--roughly 8 million by the end of the week, they estimate. Treasury Secretary Henry M. Paulson says that these stimulus checks and investment incentives will create more than half a million jobs by the end of the year. President Bush also hopes these checks will provide a much-needed boost to our economy.

"Al's Morning Meeting" of Poynter Online briefly encapsulates how retailers and stimulus check receivers' are responding--and it's across the board. Retailers, of course, hope the checks will boost customer spending. But, that may not be the case. A Los Angeles Times/Bloomberg poll stated that only 18 percent planned to actually spend the money while a combined 65 percent will either save it or use it to pay bills.

To learn more about how average Americans plan to use their stimulus checks, look at this CNN slideshow.--Whitney Chen

Entrepreneurs Awarded for Relief Efforts

(Business News, Events and Resources)

The SBA lauded two business owners, a mayor, and a volunteer yesterday at National Small Business Week in Washington, DC who rose in the face of Hurricane Katrina and other natural disasters. The Phoenix Awards for Small Business Disaster Recovery and Outstanding Contributions to Disaster Recovery went to Henry L. Coaxum Jr., owner of Coaxam Enterprises, Inc., Scott Smith, president and CEO of Cellect, LLC, Mayor Kenneth Boswell of Enterprise, Ala., and Melinda Bygate of Summerfield, FL. for displaying exceptional courage, resourcefulness, and tenacity.

From managing employees to taking millions of dollars worth of loans for relief efforts, they truly embodied the entrepreneurial spirit of hard work and creating solutions to aid their businesses and communities.

President Bush, in his speech at National Small Business Week, put it simply: "Do you have the perseverance to endure the bad times, and the humility to handle the good times?" Bush acknowledged that our economy is, indeed, in a bad time. Though he says thanks to many small businesses continuing to be innovative and resilient, we will come out of these times stronger.

Small-Business Optimism Sours

(Business News, HR and Management)

According to recent data from the OPEN from American Express Small Business Monitor, small-business optimism is at its lowest point in the survey's six-year history. Some of the main concerns cited by small-business owners include cash flow, the costs of doing business and rising energy costs.

The economy is also affecting how entrepreneurs will vote come November. According to the survey, four in 10 small-business owners say the economy is the issue that will most sway their decision in the upcoming presidential election.

The survey discovered that business owners in the retail industry have the most negative outlook on the economy. In addition, about 20 percent of small-business owners in the North Central states report that their companies risk going out of business due to the economy.

Despite these dismal statistics, the OPEN from American Express Small Business Monitor found that growth is still a priority for entrepreneurs, reporting that seven in 10 business owners plan to grow their business over the next six months, with 31 percent planning to hire.

National Small Business of the Year Named

(Business News, Events and Resources)

A lawyer-turned-entrepreneur was the recipient of the title National Small Business of the Year at the U.S. Small Business Administration's National Small Business Week 2008. Shawn Boyer, the award recipient, started SnagAJob.com in 2000 after a friend asked for help finding a summer internship online. When Boyer noticed the absence of websites geared toward internships or hourly jobs, he researched the business, left his job as a lawyer, found venture capital and started the company.

Eight years later, Boyer's business has grown from just two employees to 110 full-time employees.  The company grossed sales of $11 million in 2007.

To read about the runners-up and to follow the events of National Small Business Week, check out the National Small Business Week website.

Make the Earth Day Connection

(Marketing)

Even if your company doesn't celebrate Earth Day every day of the year, there are plenty of ways you can show you're green. Entrepreneur Robyn Rhodes, who we featured in our March article, Confessions of Workaholics, found a way to integrate Earth Day into her jewelry design company.

Rhodes' ecological awareness campaign donates 20 percent of the proceeds from the sale of her Rumi necklace to Global Green USA. Model and actress Josie Maran is the face of the campaign and a supporter of Global Green. The necklace, Rumi, is named after Maran's youngest daughter as a symbol of future generations.

Check out the campaign and the necklace here.

Small Business Week Goes Virtual

(Business News, Events and Resources)

The SBA's National Small Business Week kicks off today in Washington, D.C. and runs through Friday, April 25. If you can't attend in person, the SBA is offering live webcasts for all award events (excluding the opening reception) and forums. Simply go to the National Small Business Week website on the day and time of the event. Speakers and forums will focus on healthcare, procurement, trade and energy.

You can also view a free web seminar on leadership communications hosted by Liminal Group on Thursday, April 24 from 11:00 a.m. to noon (EST). Granville Toogood, a well-respected executive communications consultant, will share insight on how to speak effectively and confidently before a large audience, with employees and with customers.---Whitney Chen

Entrepreneur at WPO Conference

(Events and Resources)

The Women Presidents' Organization is taking over Boston next week for the 11th annual WPO conference. From April 24 to 26, women business leaders will be listening to speakers and attending interactive seminars at The Westin Copley Place--and Entrepreneur will be on the scene. I will be there to speak with and learn from some of the most powerful and influential women in the U.S.

The WPO is a nonprofit membership organization for women presidents' of multimillion dollar companies. On average, members have annual sales of $12 million, 89 employees and 21 years in business.

The conference kicks off on Thursday, April 24 with a keynote speech by Malcolm Gladwell, author of The Tipping Point and Blink. The theme of the conference is Innovation: Maintaining the Competitive Edge. For more information about the schedule and registration, click here.

Get Ready to Haggle

(Business News, HR and Management)

Customers are taking the upper hand as prices for products and services become more negotiable, the Los Angeles Times and The New York Times report. Many small businesses are no strangers to negotiating deals. But as haggling hits larger businesses, small businesses may need to lower their prices, or customers will likely find better deals at larger stores like eBay, Amazon, and NexTag.

Feeling the squeeze of a slowing economy, both business owners and consumers search for ways to move forward. Included along with the Los Angeles Times article is a tip sheet for wannabe hagglers. One such tip: "Loyalty counts." This suggests to small businesses that rewarding loyal customers with lower prices may win them and their business over. And it's just one way business owners can survive through this temporary downswing.--Whitney Chen

Kiva Makes Twice the Impact

(Business News, Events and Resources)

Last October, we told you about the microlending site, Kiva.org. Now, the site--which helps developing-world entrepreneurs achieve their business dreams--has partnered up with Advanta to up the ante. It's called KivaB4B, and through it, customers can make small loans to Kiva entrepreneurs using Advanta business credit cards. Once a grant has been issued by an Advanta small-business customer, Advanta will match each grant dollar for dollar, capping at $200 per month, per account.

Advanta currently has 1.3 million billion small-business customers. The program estimates that if only 1 percent of those customers made a one-time grant for $50 through Kiva, developing-world entrepreneurs would receive $1.3 million.

Condensed, Convenient News

(Business News, Events and Resources)

The entrepreneur has a lot to do in a day: finance the business, develop the product and plans, hire talented and motivated employees and--occasionally--sleep. Sitting down and enjoying news or articles in print or online isn't always an option.

Enter Brijit.com. Editors read The New York Times, The Economist, ESPN Magazine, and even some episodes of "This American Life," (to name a few) and summarize articles in a bite-sized 100 words or fewer. This is great for the person (or entrepreneur) who, instead of a newspaper or magazine, carries a PDA or laptop and doesn't have time to search bookmarked sites. A rating system also saves time by letting you know which full articles (linked to the abstracts) are worth the time to read.

There's certainly nothing wrong with staying current, tucking a few "hey, did you know that's" under your belt for a casual conversation and being entertained--especially if it only takes a couple minutes.--Whitney Chen

To Blog or Not to Blog

(Business Trends, HR and Management)

Does your company need a chief blogger? That's the question being asked by this Advertising Age article. Now that the novelty of corporate blogging has passed, blogs are being viewed as a branding voice. Companies like Coca-Cola, Marriott and Kodak have all hired chief bloggers to engage customers and share their stories.

But, as the article points out, a blog voice isn't necessarily right for every brand. Analysts say that companies that want to blog should first identify the reason they want to do so. "They really need to start with reading, following their customers, commenting on communities. Then think about creating something," says Sean Howard, director of strategy and innovation at Lift Communications and blogger for CrapHammer.com.

According to Geoff Livingston, CEO of Livingston Communications and blogger for Buzz Bin, companies need to look beyond the blog. "What [companies] need to focus on are the principles behind social media that make it work, like participating in a larger community works, and not controlling the conversation works," Livingston says.

Consumer Confidence Sinks

(Business News)

According to the RBC Cash Index, consumer confidence sunk to deeper lows this month--the deepest we've seen since 2002. Right now, consumer confidence is at a mark of 29.5, compared to 33.1 in March, and 89.5 in April 2007. Economists and strategists point their fingers at high gas prices, an injured housing market and a sharp influx of unemployment.

Yet, there continue to be some glimmers of hope--small businesses made 55,000 new jobs recently and there were actually fewer unemployment claims this past week. Also, President Bush met with owners of small and mid-size businesses to encourage them to take advantage of incentives and to make capital investments in hopes of restoring consumer confidence.--Whitney Chen

Leading Ladies Unite

(Events and Resources, HR and Management)

Last week, Microsoft Office Live Small Business held its first Vision to Venture event, an entrepreneurial conference for new and veteran women entrepreneurs.  The event featured discussions and presentations by experts including Rich Sloan, author and co-founder of StartupNation , Susan Wilson Solovic, author and co-founder of Small Business Television , and John Jantsch, author and founder of Duct Tape Marketing . The day-long conference, which debuted in St. Louis, will travel to four more sites over the next month. After May 15, the conference will be available as an on-demand webcast and a portion of the proceeds will be donated to Dress for Success, a nonprofit that provides interview suits, confidence boosts and career development to low-income women in more than 75 cities worldwide. --Lindsay Holloway