Stop Being Nice
Before we get started, I have a cancellation to report. Lynnelle Wilson has rescheduled her BOLD Women Celebrate Entrepreneurship to March 11.
Back to your scheduled programming
The Wall Street Journal covers managers who do their employees a disservice by not being tougher on them:
"Bosses who want to avoid any discomfort, 'use generalities so people really don't know what they're talking about,' says Laura Collins, an HR consultant. Instead, they tend toward one-size-fits-all comments: 'pay a little more attention to detail' and 'improve the way you communicate" and "develop better organization skills.' "
The column has examples of supervisors not giving valuable feedback to their people and morale dropping among productive workers.
Super Pooper Scoopers
George Carlin joked that if you nailed two things together that were never put together, someone in America will buy it.
You can carry that theory further. If there is anything you don't want to do, you could hire someone to do it. That includes scooping after your dog.
The WSJ writes about a contest for professional pooper scoopers to prove which methods and products are fastest. Yes, the contest is weird. But what's weirder is that there are people who come to your yard to pick up Baxter's poo.
I bet their clients don't shake hands to seal the deal.
Dumping on big and small
Portland Press Herald report Ed Murphy talks to Jim McGregor about how state laws burden small businesses. But Rep. Nancy Smith, D-Monmouth, says the laws are meant to promote downtowns and Maine businesses. They target sprawl and big box chains.
Not a bad thought. Unless: "But McGregor said it's hard to take a shot against the Targets and Wal-Marts in Maine and not hit a few local retailers as well."
Small Business Survival
The Portland Press Herald / Maine Sunday Telegram calls its annual look at Maine's economic future Trends. But this year it could be called Recession. It looks at how the state's major industries and each region will fare this year in touch economic times. Here are the stories:
Is credit due?
Independent Street refers to a story about how Amex cut back a credit line for a small handbag maker. The business is owned by a woman who has a good history with the company. But American Express is tightening its credit policies.
It's a good example about how high-minded economic debates really are about day-to-day events.
It also got me reading an interesting new blog, The Vest Pocket Consultant by Rosalind Resnick. She's a consultant that that advises start-ups and small businesses.
Help is on the way?
The new stimulus package is supposed to help. The rule allowing businesses to expense equipment purchases is supposed to encourage the expansion that tightening credit would endanger.
If you're not sure how, check out this attempt to simplify how the stimulus can help your business.
Is there any hope in this package?
Value of social networking
I found an interesting discussion about social networking sites on Independent Street. The comments have good food for thought.
There's a school of thought on using sites such as MySpace or Facebook to reach new customers. But do those sites fit your brand? If your sales are business-to-business based, I can't see you investing a lot of time in MySpace.
But would FaceBook be better?
What do you have to lose? I referred to participating in these sites as investing time. Because you need to spend time on your social network. You need to keep updating them. You need to monitor the conversations surrounding them. You need to spend time mining other business pages for leads.
The comments I cited earlier link to more business-like social networks. They might fit your image and mission better. But how many people can you connect to?
Facebook and MySpace have the numbers. You need to take a hard look at which is more important.
Take two aspirin and Google me in the morning
I'm running a little late on this story about electronic medical records. But MPBN reports that the Bush administration sees this as a way to make health care more efficient. Hopefully more efficient will translate to less expensive.
The story also brings up privacy concerns. If your records are kept in a relatively accessible server, they have some vulnerabiltiy. The Wall Street Journal brings up a slightly different concern:
"The rules, however, apply only to "covered entities" -- health-care providers, health insurers, health-care clearing houses, such as billing services, and business associates, such as companies that administer health plans -- rather than to the medical record itself."
A third party technical company storing your medical records wouldn't be covered by HIPPA. Even if that company is Google.
Google wants to get into electronic medical records and is working with the Cleveland Clinic on the issue.
Microsoft has talked about electronic medical records too.
Here's the thing. Each company has its own way of doing things. That means standards. If your doctor updates your records with Microsoft technology, will it be compatible with the Google tech the insurance company uses?
I have to wonder about efficiency too. Will the electronic records be easier for your office to handle than the paperwork you have now?
Buying Time for Local Businesses
The Independent Street blog has an entry about the documentary Twilight Becomes Night." The film follows five struggling New York City shops during a six-year period. Customers supported the stores to keep them in business.
The effort is mirrored in Maine by the Buy Local campaign.
Independent Street makes the point that these noble efforts are only short-term measures. They can help businesses buy time. They need to address the fundamental problems threatening their survival.
New Career: Balloon Rancher
The Wall Street Journal has a great story on its front page that's sounds a bit too good to be true. Space Data Corp. launches balloons that act like floating cell phone towers. The company is using the balloons to bring wireless communication to rural areas. Each balloon can cover an area needing 40 cell phone towers.
This could have real benefits for Maine. Not only can it expand cell phone service in the state, but companies won't need to mar the landscape with towers. There is a huge environmental impact abated.
But there is a catch that could be a benefit to Mainers. The balloons are temporary. Once they reach their elevation limit, just below 100,000 feet, they last about 24 hours. That means someone has to relaunch balloons. There are mechanics stationed at small airports that do the job.
But Space Data has contracted with another type of worker: dairy farmers. The farms are strategically located in rural areas, and the farmers are incredibly dependable. The balloons are simple to inflate and worth $50 to the farmer.
Let's get back to the end of the balloon's life cycle. The latex balloon pops and falls to the earth. There are parachutes attached to the equipment so it floats safely down. The latex raises serious environmental concerns. Space Data says the latex is as biodegradle as a tree leaf. Hey, that's a long life span for something to float in our waters or hang from the landscapes.
That electronic equipment that floats back to earth is worth about $1,500 and worth a recovery effort. Space Data pays a $100 bounty for the recovered gear.
I like this idea because I see three opportunities:
- There is a chance to expand cell phone and Internet access across the state.
- Farmers, loggers and outdoorsmen can make some extra cash by launching balloons.
- Recovering the fallen equipment could be a side business for adventurous souls who have GPS units.
How to depreciate your stimulus
There's a bit of debate surrounding the expensing rules in the recently signed stimulus package. Basically, it allows businesses to deduct the costs of equipment now instead of spreading it over several years. But if revenue is down, how much will businesses spend on new equipment?
To help you decide, there is a detailed explaination of how to apply the new rules in the Wall Street Journal.
A Penny Owed is a Penny Deducted
Keep reading the WSJ. There's a tip for someone considering whether to start a business as they retire. There's an issue about whether it's good to keep a home mortgage or pay it off. The mortgage interest deduction could amount to real savings.
That's a good point. But as the mortgage gets paid, the amount of money for interest goes down. Thus the deduction decreases.
Speaking of Retirement
The Kennebec Journal and Morning Sentinel are wrapping up a four-day series on how baby boomers nearing retirement in Maine will impact the health-care industry; real estate; the workplace; and, public policy. Here are the stories so far:
After you take a look, check out the Wall Street Journal story about 12 people who are building businesses and technology to serve this changing demographic.
There are opportunities for businesses to serve an older population. That niche is growing much bigger.
Planning to be creative?
Everyone knows you need a good business plan before you start. The Wall Street Journal has a column about how much time you need to spend on such a plan.
Kelly Spors writes that many businesses put too many resources into a plan that isn't feasible. Here's the takeaway:
"Some entrepreneurs get so caught up in polishing their written plan, they lose sight of make-or-break issues, such as whether they have actual people clamoring to buy their product and who will sell it. Sometimes, the product can't be manufactured and sold at a price that will make a profit. But it shouldn't take a year of long-winded planning to figure that out."
Get Creative
Lynnelle Wilson has a great introduction what it means to be part of the creative economy. She even lists the tools you need to work in it.
Catch that? I refer to the "tools" need to be a "creative" worker. Does it evoke images of people building things or making products? But many "creatives" work in the abstract. They don't have tangible outputs - nothing to hold in their hands. This isn't true for everyone. But the Wall Street Journal has a column about why morale is low among creative and information economy workers.
"In the information age, so much is worked on in a day at the office but so little gets done. In the past, people could see the fruits of their labor immediately: a chair made or a ball bearing produced. But it can be hard to find gratification from work that is largely invisible, or from delivering goods that are often metaphorical."
At least I have this blog entry to show for a morning's worth of work. It's not a widget but it will do.
On a Wing and a Prayer
Here's a wonderful example of creative economics. The Maine Blackfly Breeders Association floated a plan to harness the energy from the wings of blackflies. "It's a wing-wing situation." (The pun isn't mine. I got it from the Bandor Daily News story.)
Well, not really. But it's worth reading before you get back to work.
Small Business Web Sites
Here's an obvious piece of advice in the New York Times. Web sites can help a small business gain customers. If you don't believe the New York Times, ask Rich Brooks. But it's not obvious to everyone. "Jupiter Research found that just 36 percent of all businesses with fewer than 100 employees had a Web presence."
One big problem is that small business owners don't have the time to update a Web site. Experts advise that effort be made to make it look fresh.
The article did interview Jody DeVere, president of askpatty.com, an automotive advice site for women. Remember yesterday's entry about basing a business on a niche Web site?
Hey, this Internet fad just may stick around awhile.
Labor of Love
The Wall Street Journal puts the spotlight on dating Web sites. It writes about a few small sites that found a profitable niche. Although the column concentrates on online matchmaking, it has a few points for anyone looking to start a business:
Find a niche. Is there a small market that is being underserved? Bigger businesses may not see the small gains in revenue worth their while.
Low overhead rocks. This is why there are so many consultants and Internet startups. Put your effort into a great Web site, and no one has to know your world headquarters is in a spare bedroom.
Undercut the competition. This is why the second point is important. By keeping the overhead down and organization small, you may be able to set your prices lower.
Stimulate your marketing
Social media is the latest weapon in guerilla marketing. Facebook, YouTube and blogs could be valuable ways for you to get your message out. The Wall Street Journal has a few tips for creating a social media strategy. And Rich Brooks has good ideas on the subject in his Internet Marketing 101 blog.
The Dark Side of Social Media
It's possible to build a business based on social media. Review sites are an example of such businesses. Many are niche sites that allow users to review restaurants or hotels. Some allow you to review any business - including yours.
This is a high interest area for me. I have written about how to deal with review sites. Today I found a bad way to deal with the issue: Sue Google.
The theory is that Google makes it possible for people to find unfavorable reviews or comments. Thus they are responsible. Or it may be that the review site is being operated out of someone's basement and has no money to pay any judgment. But Google has tons of cash. Who would you sue?
Put away your lawyer's phone number and think about your social media strategy.
Here Comes the Stimulus
The Bangor Daily News looks at how the tax rebates can affect Maine's economy. The Newcastle Square Realty Blog is upbeat about the stimulus
Speaking of taxes
The Wall Street Journal has some tax-preparation tips for businesses. Basically, you need good recordkeeping.
Are You a Franchise Player?
There is a collection of articles in Tuesday's Wall Street Journal on franchising. The most interesting story is a piece on picking a franchise. The tips are geared toward the owner who needs a business that can weather an economic downturn.
There are a couple tips that apply to anyone looking to start a business - from scratch or a franchise:
"Stick to core goods and services." Sell the stuff we need to buy. A recession is going to deplete consumers' disposable income. They will cut back on fast food, luxury goods and services. But repair services become more popular as people can't afford to replace goods.
"Be choosy about a site." In other words, location, location, location. Here's the best quote of the story:
"You pay for a good site once, and a bad site every year in terms of low volume and low profits," says Dennis Lombardi of WD Partners, a Dublin, Ohio, store-development firm.
Don't pinch pennies. You're going to need to be well funded. Expect sales to fall 5 percent to 10 percent in a recession.
There also is a piece of advice about competition for franchises. During layoffs, many workers look toward starting their own businesses. You're not the downsized entrepreneur-wanna-be. You're going to face some competition for financing too.
Here are the rest of the articles:
List of 25 Top Performing Franchises
A Look at High-Performing Franchises
Quiz: Test Your Knowledge of Franchising
Q&A: Franchise Funding in the Credit Crunch
Hold That Thought
If you're looking at franchises, consider something else. This is Maine, and there is a resentment toward institutions from away. If you don't believe me, try walking on Congress Street in Portland while asking people where to find the Hooters restaurant. (Be sure to use the word restaurant or you're going to be called a pervert.)
But talk of locating a restaurant so close to the Old Port (I don't consider The Stadium to really be Old Port.) prompted a temporary ban on chain businesses in the area. Yes, the waitress uniform had quite a bit to do with the controversy. But Portland City Council used a ban on a type of business not a dress code to stop it.
You might be able to generate better goodwill and public relations if you start from scratch. But the Wall Street Journal does make a point of encouraging you to buy an established brand for a reason. Those well-known businesses from away do tend to weather economic storms better than a less expensive franchise.
Consider both sides to this argument. The franchise can be the way to go. Some brands are loved or tolerated more than others. Or maybe you need a local look and feel to succeed.
How Helpful is the Government?
I want to welcome a new blogger to MaineBusiness.com. Tony Payne, executive eirector of the Alliance for Maine's Future. He is writing Speaking of Politics.
I've wanted this blog for a long time. Maine government's business policy - taxes and regulation - is a hotly debated subject, and I welcome it on our pages.
Tony is going to keep an eye on the Legislature and state agencies and tell us how it affects Maine business.
He starts off with a plea for voters to get involved and force the Legislature to cut the state budget and a catalog of costly legislation. Read his blog because he explains why it matters.
And feel free to contribute your comments.
Brace for the Stimulus
President Bush is expected to sign the $168 billion economic stimulus package today. Jeff Bogue sees it as more of a voter stimulus package. Because he isn't going to run for office in the fall, he explains why there are better options in his latest Financial Sense blog.
But the New York Times has a story touting the legislation as a boost for small business. The obvious benefit is the increase in disposable income that hopefully will fill local cash registers.
The depreciation provision that encourages business equipment purchases also is seen as a big help. But there are economists that doubt small businesses can afford the intended expansion in the first place.
But Maine businesses may not benefit so much. If you have a copy of this weeks MaineBiz around the office, read Mal Leary's column. He explains Maine's business equipment depreciation rules. They are not affected by the changes in the stimulus package. Don't expect a lot of help there.
Not Just for Breakfast
Dunkin' Donuts is trying to make itself popular all day with a new menu that includes warm sandwiches and pizzas. To make the new food, the chain has to replace its microwaves with convention ovens. That's a pretty big investment in a menu change.
Dunkin' Donuts isn't competition just at breakfast anymore. Another fast food restaurants wants your lunch and dinner customers.
Stimulus or Snow Job?
Postal Stimulus Packages
The U.S Treasury better get those tax rebate check into the mail fast. As of May 12, first class postage is going up one cent.
More News
Here are more headlines I found this afternoon:
Not Ready for Sub-prime
It's not just borrowers with sub-prime loans who are in trouble. The credit crisis is spreading to people with good credit histories.
There will be help for them too. According to the New York Times:
"Bank of America, Citigroup, Countrywide Financial, JPMorgan Chase, Washington Mutual and Wells Fargo are expected to announce on Tuesday at the Treasury Department that they will offer both prime and subprime borrowers who are more than three months behind a chance to halt foreclosure proceedings for 30 days and work out new loan terms."
The Wall Street Journal blog Independent Street asks "Can Spouses Who Work Together Give Good Advice?
It notes that many high powered leaders in industry and politics go to their spouses for advice. Since the spouses are outsiders, they bring a new perspective. But when the spouses work together, does that advice become less valuable?
Funding Business Expansion
The Charting Maine's Future blog posts a notice for a work session of the Legislature’s Business, Research, and Economic Development Committee. At 2 p.m. in room 208 of the Cross Office Building, lawmakers will take up LD 1215," An Act To Attract New Capital for Innovative Businesses through Equity Investment in Maine":
"The bill establishes a Fund of Funds whose governing board is authorized to issue shares in one or more venture capital funds focused on business sectors with strong prospects for expansion in Maine. At least 50% of the aggregate money raised through the fund must be invested in Maine."
This would allow the state to invest in venture capital loans to Maine industries to spur innovation.
If that's your idea of a good time, you may want to arrive at 1 p.m. for a work session on LD 2159, "An Act To Advance the Maine Economy":
"This bill creates and provides funding for the Maine Expansion Fund, to be administered by the Department of Economic and Community Development, Office of Innovation. The fund consists of ongoing appropriations and will provide grants to municipalities, which must match the grants, to aid eligible businesses to locate or expand in the State."
This legislation would give towns money that they can grant to local businesses. Your municipal government must match the funding locally to encourage businesses to locate or expand within its borders.
Do you think these funds will are a good idea?
Would You Like Wi-Fi with that Grande Latte?
Jeez I almost forgot. Starbucks is switching Wi-Fi providers and offering it free for a couple hours.
This is another move by the company to recapture its magic. With WiFi? It doesn't exactly create the same atmosphere as in-store bean roasting, but it could draw more customers. By giving people a comfortable place to do their surfing for free - or relatively cheaply - Starbucks gives people another reason to walk in the store. And buy some coffee. And maybe a second.
It's a loss leader that helps many businesses attract customers. What can do you do to bring people through your door?
Oh Canada
While we ponder a possible recession in the United States, Canada is enjoying economic prosperity. The currency is strong and unemployment has reached a 33-year low.
Great. All we need is people to use their stimulus checks to move to Canada.
Maybe strong economy will spur more Canadians to vacation in Maine this year. You may want to stock up on Speedos.
Meanwhile at the Gas Pumps
Hopefully gas prices won't discourage them from driving. The Wall Street Journal reports that U.S. refineries are cutting production as gas prices drop. Demand is low, and that is keeping prices down.
This is good news all around. But we can see them climb if a crisis sends the oil markets up or refinery output is compromised in the United States. Does this give your business any relief?
No Fish
The Maine Sunday Telegram reported Sunday that groundfishing boats are landing in Massachusetts instead of Maine. They cited regulations and depleted fish stocks as reasons.
This has a direct affect on the Portland Fish Exchange, which has fewer fish to sell. And there are businesses along the coast that service the boats.
Have you seen a drop in business because of the trawlers' move to Massachusetts?
Open wide and say big box
I heard a story on Marketplace about how Walmart plans to open 400 in-store health clinics by 2010. The clinics would be co-branded with local hospitals to give them some name recognition. They plan to open 400 clinics by 2010. This quote from the press release can be taken as their mission statement: "Wal-Mart expects 'The Clinic at Wal-Mart' to become synonymous with quality healthcare at affordable prices, provided by trusted, local providers."
Walmart actually will lease store space to Rediclinic, a company that provides health care services in retail spaces and work sites. Depending on state law, these kind of clinics are run by nurse practitioners or physician assistants and provide basic services. They are supervised by physicians.
The definition of supervise depends on where you go. Often, the physician isn't on site. He or she may supervise many sites. Are you getting an idea of how these services can be affordable? And it wouldn't be hard to guess that the American Medical Association and health care activists have an issue with this business model.
There is an opportunity here to do something about health care costs. If retail clinics can offer basic, inexpensive services, this could promote overall better health and reduce the need for more costly treatments later.
But these can go the way of the Yugo if someone fails to get proper treatment and dies in the middle of a Walmart.
Planning a Stimulus Sale?
Congress approved a stimulus package Thursday. Many people will be getting $600 and $300 for each child in the house. The intent is to put money in consumers' wallets so they can put it into your cash registers.
Businesses will be able to immediately expense $250,000 - up from $125,000 - in equipment purchased. Fannie Mae, Freddie Mac and the Federal Housing Authority will be able to issue bigger loans. The government hopes those measures and the rebate checks being spent at your business will help you expand your business.
Is the stimulus going to help your business?
How to Spend That Check
Marketplace has a story that assumes the tax rebate checks will have an effect on the economy.
"Economists say the stimulus plan will help in a sluggish economy by targeting the rebates at low and middle-income families, the folks most likely to spend the money. But [Nicholas] Jacobs thinks the checks should be put to more practical use."
Jacobs is with the National Foundation for Credit Counseling and says consumers will be better off if they pay down existing debt or put it into savings. If someone needs to spend it, then they shouldn't use it as a down payment on more debt.
What Are You Reading?
The business of writing books on business is pretty good. But you may be wonder if that's because they give good advice or a cure for insomnia.
Independent Street at the Wall Street Journal has a piece about books that offer good insights without putting you to sleep.
Innovation 2.0
Today we debut a column by John Ferland, President/CEO of the Maine Center for Enterprise Development. He has been running the incubator at USM for about seven years. He brings his insight twice a week to MaineBusiness.com called Innovation 2.0.
His first column is about managing energy costs in Maine.
Child Care Costs
MPBN has been airing a story about an effort to allow people who provide child care in their homes to participate in collective bargaining. The 2,000 people want to join the Maine State Employees Association.
That wouldn't violate anti-trust laws?
New Poll
I have a new poll on MaineBusiness.com. This one Asks if you support a bill to allow the Penobscot Indian tribe to operate slot machines on their land at Indian Island.
Retail Sales
The Thomson Financial Same Store Sales Index is to be released today and report that retail sales rose 1 percent in January.
Economists see this as another sign recession is coming.
How was your January?
Your Government at Work
Who says the government doesn't do anything for business owners? Here are some examples of how it is trying. Very trying.
The Stimulus
The U.S. Senate votes on its $204 billion economic stimulus plan today. This is about $40 billion more than what President Bush wanted.
What the Government Can Do For You
The New York Times has a quick guide to federal agencies and programs that offer help to small businesses.
Closer to Home
The towns of Washington, Union, Rockport, Rockland, Thomaston and Warren have formed a microloan group to benefit small businesses. The owners have to meet income requirements and have a business that will create or retain jobs for people with low to moderate incomes. The interest rates will be from one to three percent.
Any thoughts on which of these programs will be most effective in helping Maine's business community?
Another Day of Super Coverage
Today is Super Tuesday - 24 states weigh in on the Democratic and Republican presidential nominations. By the end of the night we may know who will be representing each of the parties on the November ballot.
Maine Republicans went for Mitt Romney on Saturday. This weekend, the Democrats have their caucuses.
The candidates and voters have been seeing the same reports on the economy and turned it into an election issue. But is it the most important issue?
Let's find out. On the MaineBusiness.com front page, I created a poll. I hope to capture a sense of what inspires to vote. I know it's not a scientific survey. It is flawed. But it's a chance for you to participate in a conversation.
So cast your vote. Consider the results carefully. And let me know how it works for you. It's one of the many ways to join the conversation that we will unveil this month.
It's Been Awhile Since I Blogged Starbucks
I tend to write about Starbucks quite a bit. It's not that I'm a loyal customer. Nor do I hate the business. But it's an interesting business these days for a few reasons:
1) Starbucks spends a lot of energy on developing its brand and strategy. Management is very deliberate. You can get a business education by following the Starbucks news.
2) They're having some problems. They canned their CEO. The stock is down. They feel a need to turn around the brand. Watching how they handle these issues will be case studies in business classes.
3) The mom & pop coffee shops are competitive against Starbucks. While most national retailers can stimulate going out of business sales when they come to town, local coffee shops fare pretty well.
In the other Portland, local shops found ways to compete and beat Starbucks. They concentrate on quality and customer service. It resonates with customers and strengthens loyalty.
It's another good business lesson.
At Least We Enjoyed the Ads
Sorry guys. I feel for you. Really. I do. That was a tough loss.
But I'm not going to let that from engaging in some shameless self-promotion. Actually I'm promoting Gino Bona, author of Diary of an Ad Man. Gino won the NFL's contest last year to come up with a commercial pitch for the Super Bowl.
The Boston Globe remembered the pitch and did a where-he-is-now story. I know, the Maine Sunday Telegram did one too but the declined to mention his blog on MaineBusiness.com. (Where's the link love guys?) That hurts more than the fact that the Globe story has a glitch that doesn't link correctly to the blog.
Sigh.
But it's good to see Gino still get some recognition for last year's win. As the stories note, he used the publicity to spark a search for a new job. The search landed him in Camden as vice president Marketing for Camden National Corporation.
It may not seem like a big leap to go from Portsmouth, N.H., to Camden. But he chose Maine when he had options to go to plenty of places around the country. And he chose to blog for us.
I'm just saying.
Speaking of Super ads
Gino has updated his blog with his take on the Super Bowl ads. He ranked the E-trade baby at #2. I did like the Godfather homage from Audi but I had to explain it to too many people in the room. My big winner was E-trade's talking baby ads. Those of you still creeped out by the Quiznos baby, Etrade makes you feel safe about trusting your portfolio to a broker who spits up on himself.
I didn't have to explain that one to anyone.
This brings up a point. Say what you will about the Bud Light ads. But this morning I know one 12-year-old was quoting them. Yeah, that's scary for anyone worried about alcohol marketing to the youth.
But it was effective. I didn't have to explain anything to him. He remembered the product. He was talking about the message a day later.
The Audi ad was lost on him but I don't think anyone there is losing sleep over not reaching him. He's more interested in John Deere tractors and trains.
The Sobe dancing lizards should be looking for work today. I heard some radio talk show hosts debate the ads and they couldn't remember who paid for that ad. I bet if you take a survey you will find more people think it was another Geico ad. And did anyone race to their computer to see the GoDaddy.com ad? Or did you forget about it until I just mentioned it?
So pay attention to what ads people mention. Then watch the ads again. What do they do to make their messages stick?
More on the Ads
Independent Street, a small-business bog at the Wall Street Journal, ponders how a bad ad can affect sales
USAToday ranks the ads in its Ad Meter
Taking Care of Business
Is the federal government a coach or referee? If you're a small business owner, do you want the government to offer help? I'm talking grants, tax breaks and advice.
Or is the government more of a referee? It watches business carefully and calls penalties when the rules are broken. It doesn't offer tips or try to even out the playing field beyond the laws.
I ask because I've heard business owners complain that the state of Maine does nothing for small business owners. And the complaint can be heard on the federal level.
The stimulus plan is seen as a good start but it doesn't do enough to help small business according to some spokes people.
Should the federal government do more? There is an argument among economists that presidents do little for the economy compared to the Federal Reserve. And presidential candidate Rep. Ron Paul, Republican, says the president's role is to get out of the way of business and let the markets take care of business.
Literally.
What should government do for business?
Microshoo?
Microsoft announced it wants to buy Yahoo for $44.6 billion.
This is going to consolidate the online advertising options. Microsoft and Yahool have been trying to compete with Google in this arena. Microsoft admits this is a reason for the deal, noting that online advertising is "increasingly dominated by one player. Together, Microsoft and Yahoo can offer competitive choice while better fulfilling the needs of customers and partners."
I'm not sure if this can help your Internet marketing strategy or not. What are your thoughts?
I also wonder if the mix of cultures will work for Microsoft. Yahoo has this wild, crazy image. You know, like some fun-loving yahoo. Microsoft is all about word processing and spreadsheets - serious business. I don't see the two sets of services being merged under a single brand. Oh I'm sure Microsoft will try. But MS Photos doesn't have the same ring as Flickr.
Yahoo has some pretty popular services many Mainers use - e-mail, calendar, news, search. They also own Flickr - an extremely popular photo publishing site.
I know Flickr is popular because I monitor an RSS feed of photos tagged "maine." So many Maine photos get uploaded that I don't have time to look at them all. But most of them are taken on Mount Desert Island. Maine weddings and nature are pretty popular subjects too.
Un-Patriotic Stock Market
There's some history to suggest that the stock market does better when the NFC team wins the Super Bowl. I know there are more important things than money. I'm just saying.
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