How a company survived the death of a business partner | How to improve your marketing e-mails | Getting started on Twitter: Tips for small-business owners
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February 25, 2013
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How a company survived the death of a business partner
In 2004, Steve Ciepiela's business partner had a brain aneurysm and died suddenly. The business, called Charles Stephens & Company, was able to navigate the difficult period that followed thanks in part to a buy/sell agreement that had been put in place to handle just such an event. In addition, the company had adopted standardized processes that made the transition easier. "[T]he real lesson here is the importance of branding your company and having systems in place so that clients are customers of the company and not of an individual," writes Josh Patrick, founder of Stage 2 Planning Partners. The New York Times (tiered subscription model)/You're the Boss blog (2/21)
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Get with the flow. How payment processing affects cash flow.
Cash flow is the lubricant of business. Without a healthy cash flow, business dries up. It stops. It can't function. Which is why it is vital to keep the revenues coming in as the expenses go out. But there's one aspect of cash flow that many of us are not aware of. It is how managing credit cards and other such non-cash payments affect cash flow. Turns out it has a huge affect. Download the free guide today.
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Marketing
How to improve your marketing e-mails
Before sending a marketing e-mail, make sure you have selected the right group of recipients, provided a way to unsubscribe and correctly set up the personalization, writes Monika Jansen. Also, include your company's contact information in the message and make sure there's a text version so everyone will be able to read it. "Despite all the incredible advances in browser and mobile technology, some programs and devices just cannot handle HTML versions of emails," Jansen writes. NetworkSolutions.com (2/21)
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Getting started on Twitter: Tips for small-business owners
After choosing a Twitter handle and filling out your bio, you can begin to build your presence on the social network by tweeting content that your followers will care about, writes Álvaro J. Soltero. "[T]he most important resource you can use to build a Twitter community is your knowledge of your target market and how to reach them," he writes. You can gauge your success by tracking the number of clicks your content gets and monitoring the use of your hashtags. Social Media Today/Leaf's SMB Blog (2/24)
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Management
Should your employees be wearing fewer hats?
Startups tend to be staffed by entrepreneurial workers capable of juggling endless tasks and responsibilities, says Serena & Lily CEO Lily Kanter, but established companies tend to employ specialists who focus on a single area of business. The trick is to make sure your firm strikes a balance and retains some of its multi-hatted entrepreneurs as it grows, she says. "I think keeping that entrepreneurial ability alive in a company is really important," she says. The New York Times (tiered subscription model) (2/23)
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Money
The right time to tweak a business plan
The frequency with which you should update your business plan depends on how you are using it, and if the purpose of your plan is to help secure financing, then you might not need to change it until you need more money, says Jim Hunter of Foursight Consulting. Others say changes in the economy should prompt a review of your plan, and that an annual update is wise. American City Business Journals/Sacramento, Calif. (2/22)
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Tips & Tools
App can help you make the most of your Gmail account
An iPhone application called Mailbox can help you to manage your Gmail messages to make sure you get all of your work done. By using the proper gesture, the app allows users to delete messages, archive them or put them off until later. CBS MoneyWatch (2/22)
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Featured Press Releases
 
Just for Fun
Oscar stars' swag bags are shrinking
Stars at this weekend's Academy Awards will receive a swag bag that's less well-stuffed than in previous years. This year's freebies are worth a relatively paltry $47,803, down from $93,108 in 2010, and will include items such as tennis shoes, condoms and a bottle of Windex. Bloomberg Businessweek (2/21)
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SmartQuote
I think we're at this evolutionary time in business where it's all about people."
-- Lily Kanter, co-founder and CEO of Serena & Lily, as quoted by The New York Times.
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