Home > Entrepreneur Daily > May 2008

Entrepreneur Daily

The New Work Week

(Business Trends, HR and Management)

Following up on our previous blog post, here's an article from Yahoo! News about how rising gas prices are affecting workplaces across the country. Some employers are offering workers a four-day week to help save gasoline.

Time for Telecommuting?

(Business Trends, HR and Management)

Los Angeles Times columnist, David Lazarus, ponders what life in Los Angeles would be like without suffering through commutes that take days off your life and gas bills that put expensive purchases to shame. He concludes that while public transportation only does so much--especially in a city like Los Angeles--perhaps it's time for employers and employees to consider telecommuting and working from home.

According to an American Electronics Association report in April 2008, an estimated 1.35 billion gallons of fuel could be saved if all Americans who could telework, did so 1.6 days per week. So not only would that spare the atmosphere billions of pounds of carbon dioxide, but that would mean fewer people on the roads and less frightful commutes.

Some employees will be bold enough to ask for telecommuting options, however according to Tom Abate from the San Francisco Chronicle there's an advantage to business owners initiating the move toward more at-home-work: lower office occupancy costs and better retention of key employees. Making work easier (and cheaper) for your employees may mean more efficiency. Phones with QWERTY keyboards and Wi-Fi connectivity also allow employees to spend less time in the office or on the road, and more time getting stuff done.--Whitney Chen

Cashing In on Beetle-Mania

(Business News)

Colombian entrepreneur German Viasus has a passion you have to see to believe. Check out this article from the Los Angeles Times. Though most people would cringe at the thought of multiple beetles crawling up their shirt, Viasus relishes the creatures that are helping his business thrive.

"If I produced 1,000 beetles a day, I could sell them all," Viasus said. He ships 300 giant beetles each month, retailing them for as much as $350 each in Tokyo pet stores. According to this article, the Japanese believe big beetles are good-luck charms and symbols of strength and tenacity.

Viasus' beetles also serve another purpose. Viasus uses them in a process he devised to make enriched organic fertilizer. For that purpose, the company was given a loan from Colombia's Environment Ministry for pursuing "green" markets. Colombia is hoping to catch up in its production in the "bio-commerce" realm.

The How-To Hotspot

(Events and Resources)

Ever wish you could write your own ballad or successfully grow a garden of annuals on top of running a successful business? The internet, again, brings answers. This time in the form of Quamut.com, a site of brief-yet-thorough how-to guides that can be viewed online, for free, or downloaded for a small fee. You can learn everything from how to tie a square knot to how to play golf. It also offers business "how-tos" that entrepreneurs may find helpful, like how to have proper business etiquette and build a website.

Quamut.com also has a QuamutWiki feature where users can share their own how-to-guides on topics of their choosing. This could be an opportunity to explain your industry in laymen's terms and build trust in your company's expertise.--Whitney Chen

Prepare Your Business for Disaster

(Events and Resources, HR and Management)

Natural disasters have been front-page news around the world this spring, and are being chalked up as the deadliest to date. Yet, four out of 10 business professionals admit to not being prepared for a disaster. A new national survey of 5,000 business professionals, conducted by Office Depot, sought answers. The survey found that unprepared business professionals say readiness-planning isn't a priority, that it's too expensive and that they don't know how to adequately prepare.

"What’s most alarming about the survey findings is that the prevailing attitudes are steeped in misperceptions," says Jon Toigo, a disaster-recovery expert based in Tampa, Florida who works with Office Depot to help educate small businesses about important preparedness measures. "A $1 piece of media, like a CD-R, to store important data such as key customer lists, vendor details and presentations, could make a big difference in being able to keep your business running.  And it doesn’t take but minutes to back up your data on a regular basis."

According to Toigo, the key to effective planning is to protect your most valuable assets: your people and your data. When developing your preparedness plan, Toigo recommends small-business owners build solid contact lists, including at least five different forms of contact per employee. As for data, he recommends backing up the data your business can't live without and moving it off-site. For larger storage needs, Toigo suggests products that allow you to grab your data and go, like the Ativa 4GB Flash Drive and the Maxtor External Hard Drive.

To learn more about solutions for protecting your people and your data, download a free copy of a guide Toigo helped author called Expecting the Unexpected: Disaster Preparedness Strategies for the Small Business. The guide also provides preparation checklists and guidelines on how to get started.

Small-Business Confidence Rises

(Business News)

The Discover Small Business Watch reported that small-business economic confidence is rising as cash flow issues improve. The monthly poll of 1,000 small-business owners with less than five employees said economic confidence rose more than five and a half points in May to 81.8, up from 76.1 in April.

"Together with improved confidence in economic conditions for their own businesses, cash flow issues will be a good barometer of whether this rise in economic confidence is a trend, or just another blip in what has been a downward pattern for almost a full year," said Ryan Scully, director of Discover's business credit card.

In addition, 28 percent of small-business owners agreed that economic conditions for their business are getting better, up from 24 percent in April. Overall, 71 percent said they thought the U.S. economy is getting worse, down from 76 percent last month.

Federal Contracting Web Chat

(Events and Resources)

Understanding the process of finding government contracting opportunities can seem daunting to small-business owners. That's why the SBA is offering a live web chat to help answer small business government contracting questions this Thursday, May 29 from 2 p.m. to 3 p.m. EDT.

The chat, titled "How to Do Business with the Federal Government" will be hosted by Fay Ott, associate administrator for government contracting and business development. Ott will respond to questions on how small-businesses owners can gain access to the federal marketplace, walk through the procurement process and explain how to register a small business into the Central Contractor Registration database.

To join the live web chat, go to sba.gov and click on "Your Small Business Voice Online Chat." If you want to ask Ott a question, visit here before May 29 to post your question online.

Make Your Office a Work of Art

(HR and Management)

Outfitting the office or store can be both the most fun and most arduous task for the rising small-business owner. Some items-- desks, chairs, pens, etc.--are must-haves. Computers, printers, modems and wiring are also essential. The question is, how can your work space stand out from the rest?

Artecnica might help you find the answer. The website is home to a host of common objects that are designed to blend art and technology. Recycled glass vases can add a colorful and eco-friendly statement to your office, while a KnoWhere clock displays time zones of your choosing so there's no excuse for missing conference calls with the New York and Los Angeles offices.

Also, at the recent International Contemporary Furniture Fair, Artecnica showcased their new Wiremore (vs. "wireless") collection of electrical products that transform power cords messes from behind-the-desk shame to something that's aesthetic and begging to be seen.--Whitney Chen

The Latest Web/Technology Acquisitions

(Business News, Tech)

In January, we blogged about PartnerUp's list of the top acquisitions in the web and technology sectors from 2007. Now, the online community has updated that list with acquisitions in the web, technology and software sectors from the first quarter of 2008.

According to PartnerUp, the majority of the deals that made the list were in the $100 to $250 million price range. Of the 22 acquisitions that were disclosed, the total value of these deals was $4.75 billion.

Check out PartnerUp's blog for the full list.

Checking Your Bag? Think Again

(Business News)

Earlier this month, we blogged about the rising costs of air travel. Today, American Airlines announced the enforcement of new charges, the cutting of domestic flights and the possible layoff of thousands of workers. According to this Associated Press article, American Airlines will start charging $15 for the first checked bag starting June 15. In addition, the airline plans to raise other fees for services such as reservation help and oversized bags.

The fee-hike won't apply to elite members of frequent flyer programs, those who purchased full-fare tickets and those traveling overseas.

American Airlines chairman and CEO Gerard J. Arpey said the new fees should raise several hundred million dollars for the airline. According to Arpey, the changes are being made to adapt to "the current reality of slow economic growth and high oil prices."

Entrepreneurs Need R&R, Too

(HR and Management)

The American Express OPEN Small Business Monitor, a semi-annual survey of business owners, revealed that more entrepreneurs will be taking summer vacations this year--and they don't feel bad about it. According to the survey, 59 percent of small-business owners plan to escape for at least one week during the summertime. This is especially significant considering many business owners continue to face common cash flow issues, and the strain of rising gas prices and energy costs.

The survey reveals about 71 percent of small business owners say they can vacation guilt-free. But of course, being entrepreneurs, 81 percent will check in, at least once, with the office while they're gone. Some will combine business trips with vacations.

While more than half of small-business owners plan to travel, according to an a new survey commissioned by Access America conducted by Ipsos Public Affairs, only about one-third of Americans will be traveling, thanks to the uncertain economy. And almost half of those who have vacation plans expect to scale back. Phyllis Korkki of The New York Times notes that although this may not be good for some travel destinations (both abroad and on the mainland), it may benefit small business, with customers staying closer to home and local businesses.--Whitney Chen

Mixing Business with Love

(HR and Management)

Is summer lovin' on its way to your office? David Koeppel of Newsweek writes that employers are becoming more wary of office romances and the repercussions that may come with possible break-ups. According to the U.S. Equal Employment Opportunity Commission, sexual harassment charges have climbed the past couple years. And in an attempt to prevent more claims, companies are beginning to require office lovers to sign consensual relationship agreements that clearly state their equal footing in the romance.

While some find it awkward, ineffective, and needlessly legalistic, being aware of your employees' interactions and emotional well-being can prevent nasty arguments and litigation as well as bring resolution and success to any break-up or business.--Whitney Chen

Changes in Store for SBA

(Business News)

According to the Washington Post's Small Business Blog, current SBA leader Steven Preston could soon take over as head of the Housing and Urban Development Department following the resignation of the previous director, Alphonso Jackson. The Senate Banking Committee has scheduled a hearing for Tuesday, May 20, to examine the proposed move.

After receiving approval from the banking panel, Preston would still have to seek approval from the full Senate. The blog's sources said that if Preston is confirmed as head of the housing department, SBA Deputy Administrator Jovita Carranza is expected to take his place as head of the SBA.

Online Marketing Made Easy

(Marketing)

With the world going increasingly digital, here's yet another opportunity to stay up-to-speed. Webcards, developed by Smalltown, act as online Yellow Page ads, created by you, to keep customers informed. Use Webcards to share product and service information, list store locations and offer promotions. These listings--which can be outfitted with photos and maps--may also stand on their own (with their very own URL) and as embedded advertisements in search engines like Google, Yahoo! and AOL.

If your business doesn't have any other online presence, consider Webcards to increase visibility and keep customers up-to-date. If you already have a website, Webcards can be used instead as an advertising and outreach tool. Check out the Webcards and Smalltown websites for more details.--Whitney Chen

SCORE Offers Workbook Giveaway

(Events and Resources)

SCORE "Counselors to America's Small Business" has teamed up with The Company Corporation to offer two free small business workbooks to the first 1,000 people to sign up for the "How-To Workbooks Giveaway."

The books focus on starting and structuring a business. How to Really Start Your Own Business specifically covers topics important to aspiring small-business owners, including business plans, finance options and infrastructure support. How to Really Structure Your Business details the options that small-business owners have, such as selecting a state to incorporate in and how this can affect marketing options.

To sign up, go to the SCORE website, click on "How-To Workbooks Giveaway," then complete the "Contact Us" form by entering your name, street address and e-mail address. Click "Submit," and you'll receive your free copies of each workbook in two to four weeks.