Going Virtual - Going Green
July 22, 2008
Several factors are affecting company travel plans this year.
Energy costs. Because of high fuel prices, airline tickets cost more. Also add the cost of lost time, the hassles of going through airport security lines and late arrivals.
All of these situations are making air travel a less attractive choice. The days of flying cross country for a one-hour meeting are disappearing. Increasingly, virtual meetings are replacing travel. Researchers for Hewlett Packard and Cisco Systems, who studied body reactions, say that co-workers in different states and countries experience the same chemical responses to virtual meetings as to face-to-face meetings.
Travel by car for distances of 200 miles is less of a hassle than flying. But it takes more time than conference calls. And it costs more, 58.5 cents a mile.
It’s not just time and money. The frequent-flyer lifestyle can wreak havoc on a person’s health and family life. People who are involved in virtual meetings seem to be pleased with the reduction of air travel.
Here are some web-based options for webinars and online meetings:
Consulting firm BDO Seidman, quoted in Business Week, says it’s not just about travel reduction, it’s also about increasing communication. They say meeting more frequently and in short bursts of time is more productive than flying off to long meetings.
Most companies are considering the green factor in all of their decisions. Flying and driving less will reduce a company’s carbon footprint.
Tips for Cutting Postage Costs
June 18, 2008
1. Clean your mailing lists, make sure you have updated addresses for all recipients.
2. Find out how you can take advantage of United States Postal Service mailing options that benefit businesses, such as bulk mail and online postage.
3. Postcard mailings are generally less expensive than letters.
4. Analyze your needs for packaging supplies, such as boxes, tubes, cartons, drums, strapping, shrink wrap, cushioning, edge protectors, bags, bubble wrap, tags, tape and other packaging products. Buy in bulk, it will save you money!
5. Send your monthly newsletter to your customers with monthly invoices.
6. Switch to e-newsletters if this will save you money.
What Do Small Business Owners and Triathletes Have In Common?
May 13, 2008
Six weeks after major surgery I finally started to train for my third upcoming Danskin triathlon in Seattle, Washington. While creating my training plan, It occurred to me that running a small business is like participating in a triathlon – you as a small business owner need to have some knowledge of all “events” - financial management, customer service and marketing, - or your business will not survive. You may not be good at all of them, but you have to build stamina to stay in competition and finish the race. All successful entrepreneurs I have ever known have had passion for their field. Just like triathletes, small business owners need passion to go out and compete no matter what the circumstances. Not all of us will win. Reaching the goals we have set for ourselves as small business owners, marketers or triathletes may bear bigger significance. Unfortunately I meet too many business owners each week who lack clear goals and desire to become better at what they do. At the same time, when we gain new insights, we become more confident at marketing our services.
“Everything can always be better. This game is fluid. It’s always changing, it’s always evolving. I could always hit the ball better, chip better, putt better, think better. You can get better tomorrow than you are today.”
-Tiger Woods
In addition, most successful individuals I know have created systems for every aspect of their lives. It may sound boring, but they stay on track without wasting energy on defeating chaos. They have streamlined their lives. I admire their productivity, therefore I am reading Getting Things Done by Dave Allen this week.
Gas Saving Tips
April 23, 2008
I don’t know about you, but I felt robbed at the gas pump yesterday when I had to pay more than ever to keep my car going…What can I do to keep my costs down? Here are some tips that can be helpful:
* Restrain yourself from topping off at the pump.
* Check and replace air filters.
* Keep your tires inflated.
* Maintain your car regularly.
* Use cruise control when you can.
* Don’t speed up and slow down frequently on highways.
* Drive at lower speeds when you can to increase fuel efficiency.
* Don’t let your car sit idle for long periods of time.
* Unless your car requires it - don’t buy high octane gas.
* Check your oil regularly.
Go to GasBuddy.com and find the best gas prices in the area. Good luck with squeezing your pennies!
Do you need flood insurance?
October 31, 2007
What to consider:
* Homeowner’s insurance does not cover flood damage.
* Flooding can happen in almost any part of the country, including those that are not in flood zones. Floods recently occurred in Kansas, Missouri, and Oklahoma in areas that were far from rivers.
* In low-risk areas, it can cost as little as $112 a year. For a $250,000 house with $100,000 in contents coverage, the cost is about $30 a month. The average cost in the U.S. is $500 a year.
* A community has to be designated as a federal disaster area before any federal assistance is available.
* Homeowner insurance for basement contents includes only the washer and dryer, nothing else.
Credit Score
October 31, 2007
Damaging a credit score
The best loan interest rates go to those with the highest credit scores, but it’s surprising how many points a late payment can cost you.
A late car payment, for example, can reduce your score by about 100 points. A late credit card payment reduces it by 20 points.
Christmas is coming!
September 30, 2007
Paying for Christmas
* Use the envelope trick. Withdraw the money to spend on an individual and just spend that. Or put receipts in the envelope until the budget is gone.
* Think before spending. Ask the store to hold the item until you are sure.
* Plan what to buy with your spouse.
* Get real. Visualize yourself paying the bills.
Financial Planning
September 30, 2007
Do you have a spending plan?
With so many ways to spend your income, it can be difficult to set priorities. Financial planners at Charles Schwab Corp. say this is how to plan.Pay off high-cost consumer debt first. Paying off an 18 percent credit card is like getting a tax-free 18 percent rate of interest on your money. Pay off the card with the highest rate first.After that, save enough cash to live on for three to six months in case of emergency or job loss. And save at least something for retirement.
With a cash cushion in place, invest in your retirement 401(k). Invest at least as much as the company will match.
Put retirement savings before saving for your kids’ college expenses. You can borrow for college costs, but you can’t borrow for retirement.
Don’t prepay your mortgage unless you are saving 15 percent of your income for retirement.
Insurance: Make sure homeowner and auto insurance are up-to-date. A full-time worker should have life insurance equal to six to 10 times their income. Consider long-term care insurance which will help pay for time spent in nursing or assisted living care.
Make a will to ensure that your wishes are carried out. Have a durable power of attorney and a health-care power of attorney.
Absenteeism Is Costly
September 13, 2007
How absence adds to cost of running a business
Companies all over the U.S. (and all over the world) are trying to stay competitive in the global marketplace. They do their best to keep expenses under control, but there are some factors they have no control over, such as unauthorized absence.
Estimates vary as to how much absenteeism costs businesses, from a low of $645 a year per employee to $1,762, based on a study of 88 companies conducted by San Francisco based Integrated Benefits Institute.
These are direct wage replacement costs only. The costs in terms of low productivity and other expenses could be seven times as much, according to the institute.
That means, on the low end, unauthorized days of absence could cost a company $4,522 per year per employee. On the high end, it could come to as much as $12,334 per employee per year.
Don’t let absenteeism hurt your business, hire a virtual assistant!
Credit Scores and Car Insurance
September 7, 2007
Insurers use credit scores to price car insurance
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