February 6, 2013
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Stories from the Street
Main Street group's spending spurs reinvestment in Wyo. city
The Laramie Main Street Alliance in Laramie, Wyo., helped to spur $2.7 million in reinvestments in local businesses in 2012 by spending about $100,000 in the area. Downtown Laramie also benefited from increased employment and spending on public-improvement projects. "I think these numbers show that we truly are gaining traction," said Trey Sherwood, the alliance's director. "The concept of what we do in terms of economic development and preservation is really catching on." Laramie Boomerang (Wyo.) (2/5)
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How Much Do You Really Need to Make? The Answer May Shock You
Rather than focus on what you can afford to pull out of the business to cover your living expenses, you need to focus on how much you need to earn at your business in order to afford the lifestyle you want to have. This is where the Personal Earnings Goal, or PEG, comes into play. Learn how to calculate your PEG and find out how much you really need to make.

Caring for CustomersSponsored By
Developing a marketing budget for your small company
How much money should you be spending on sales and marketing initiatives? The answer, according to Jeanne Rossomme, president of RoadMap Marketing, is generally around 10% of your revenue. In addition, you should reserve about one-fifth of your time for sales and marketing. "Included in this time are cultivating relationships via social media and networking, bringing on distributors and salespeople, and managing marketing campaigns," she writes. SCORE Small Business Success Blog (2/4)
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The ROI of Privacy with TRUSTe Solutions
Investment in a Data Privacy Management Platform can deliver significant, positive financial returns for corporate bottom lines. The "Total Economic Impact (TEI) of TRUSTe" Study explains how Forrester Analysts calculated a 151% ROI for TRUSTe customers. Download the study now.

Keeping Shop
Why specificity is key when praising your staff
As the research of psychologist Carol Dweck shows, it's important to be specific when praising your employees. Rather than offering general compliments, highlight the specific behavior that you want to encourage, writes Margaret Heffernan. This sort of feedback can motivate employees to keep up the good work, she writes. Inc. online (free registration) (2/4)
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Managing the Money
Tips for managing cash flow at a seasonal business
If you run a seasonal business, it can be hard to keep your company's cash flow steady during certain parts of the year. For this reason, it's a good idea to search for new sources of income and work with your vendors to address the issue, writes Rohit Arora, co-founder and CEO of Biz2Credit. "Perhaps you can space out payments during the year so that you do not get hit hard by variable expenses ... that occur just before your busy season hits," Arora writes. Fox Business Small Business Center (2/5)
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Other News
Tips & Tools
How your business can eliminate waste
The first step to cutting down waste at your office is to figure out what sorts of things your business is throwing away. Nonprofits and government agencies may be able to help with this step, according to Jay Coalson, executive director of the Zero Waste Alliance. Afterward, make a plan to reduce waste and set goals for your company. Entrepreneur online/The Daily Dose blog (2/5)
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News You Can Use
ACA could spur part-timers to receive benefits, data suggest
About half of part-time employees who were eligible for employer-sponsored health care benefits last year signed up for the coverage, according to data from ADP Research Institute. That number could increase significantly next year when employers are required to provide health coverage to anyone working at least 30 hours per week. "I don't think employers will be surprised by this data. ... But the jury is still out on how they will respond," said Andrew Weber, CEO of the National Business Coalition on Health. Workforce online (2/4)
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Evaluating the outlook for small-business owners
Challenges remain for business owners, but panelists at the Kauffman Foundation's yearly State of Entrepreneurship Address were relatively upbeat, writes Cheryl Winokur Munk. Still, crowdfunding rules should be finalized, and a better job needs to be done of tracking and interpreting small-business lending data, according to Tom McDonnell, Kauffman's president and CEO. Entrepreneur online/The Daily Dose blog (2/5)
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SmartQuote
If you're wasting paper, you're also wasting the time and money that goes into the creation of those materials."
-- Jay Coalson, executive director of the Zero Waste Alliance, as quoted by Entrepreneur online.
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