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Time Off More Motivating Than Cash
Everyone
likes cash incentive bonuses, right? Actually, you have a currency
in your incentive compensation bag that's better than cash with some employees
-- time off!
As you
know, it takes a real "pop" in bonus compensation to bulk up take-home
pay. A bonus of several hundred, or even a thousand dollars gets
eroded by deductions to where it's hardly noticeable in the pay
envelope.
A day
off? Completely different -- someone can go do something with the kids,
spouse, or just play hooky from work with your blessing. And, many times
it doesn't cost you a thing -- the work will be there when they come
back.
Sometimes,
however, it does reduce your revenue, if the person is directly billable to a
customer, like a field service person or professional service provider. Do
the math, as described in this article, before you reject time off as an
incentive compensation strategy....
Customers are Buying, Especially
if You're Selling
CEBI members are nothing,
if not resourceful. In a recent downturn, one of our members
realized his customers would need some product sooner or later, and guessed that
others may have cut back their selling efforts or reduced sales
staff.
He also figured that maybe
someone other than a sales person could make a few phone calls and scare up some
orders. Guess what? He was right!
In his own words, "Cold
calls are working", and here's
an article on how he stepped up his outbound phone contact without a penny of
additional salary expense......
Keeping Your Brand in Front of
Customers
I heard a business owner say, "By keeping my doors open, I'm gaining market
share." Not far from true, as long as you're keeping all your own
customers or scooping up some that are dropped by failed
competitors.
Not all businesses have great
ideas for ways to keep their brand in front of their customers. A CEBI
member suggested, "If you don't have something to tell them, ask them
something." Here's
an article on how to use free survey tools to ask your customers' opinions on
almost anything...
Another CEBI member said,
"I hear my customers saying, make me smarter." Here's
how he's doing that, without creating content of his own......
Either way, you're putting your brand and your logo in front of customers and
prospects regularly, ensuring that whenever one does have a need, you're the
most likely to get that call.
Loss Carrybacks Extended for 2009
 Looking
like you'll lose money for 2009? -- Plan to lose a lot!
Most business owners
work to mitigate losses in a down year. It might be in your best interest
to take a look at whether this is a good idea or not. Perhaps you'd
be better advised to just "flush" 2009, maximize your taxable income
loss, and go for a "do-over" in 2010.
Recently-enacted
legislation allows the carryback of 2009 losses not just two years ( prior
law), but five years. So, losses in 2009 could well net you a
handsome refund, if applied to a great year in the recent past.
More
details, and 5 ways you might use to maximize taxable losses for 2009....
And, as always, we're
interested in your ideas for newsletter articles. Would you perhaps write
a guest Editorial? Please let us know if you have ideas or material you'd
be willing to share with others.
Thanks,
Terry Weaver
CEO
Chief Executive Boards International
TerryWeaver@ChiefExecutiveBoards.com
864 527-5917
www.chiefexecutiveboards.com
www.chiefexecutiveblog.com
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Upcoming Events
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Fall Summit
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Nov. 19-20, 2009
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Houston LB*
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Dec. 10, 2009
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Detroit LB
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Feb.
2, 2010
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Indianapolis LB
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Feb.
3, 2010
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Chicago LB
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Feb.
4, 2010
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Chicago North LB
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Feb.
5, 2010
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Dayton LB
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Feb.
9, 2010
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Cincinnati LB
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Feb.
10, 2010
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Northern KY LB
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Feb.
11, 2010
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Houston LB
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Feb.
24, 2010
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Greenville LB
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Feb.
25, 2010
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Tampa LB
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March
2, 2010
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Cleveland LB
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March
3, 2010
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Columbus LB
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March
4, 2010
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Spring
Summit
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April
22-23, 2010
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2010 Fall Summit
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Oct.
28-29, 2010
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* LB =
Local Board Meeting |
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Listing
of all
2010 Local Board Dates
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Not Yet a
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Archives
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Some Banks
are Loaning Money
Man bites dog. Federal Agency does
something (mostly) right and private sector kills it. Such is the story of
the America's Recovery Capital (ARC) loan program, originated by the Small
Business Administration (SBA).
Yet some banks (not the
big guys, of course) are actually making ARC loans. If you're in need of
working capital, why not target banks that are actually lending
money?
Active
Bank List by State
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Roth
IRA in 2010?
You might be
surprised by the several reasons to consider a Roth IRA
conversion in 2010. You might be further surprised to
learn that you can convert part of your existing 401(k)
account to a Roth IRA. Keep
watching this space for the reasons...
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Nominate a Member
CEBI membership
has grown at a record pace over the past year, in part due
to CEBI members nominating friends & associates as new
members. Additionally,
we've had multiple members nominate identified successors or
purchasers of their businesses.
Do you have an
acquaintance who could benefit from membership in Chief
Executive Boards International? If you need an
email to share with a friend, try these "talking points"
Use this Nomination
Form
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