Tuesday, May 22, 2012

A Weekly Roundup of Small-Business News - NYTimes.com

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A weekly roundup of small-business developments.

What?s affecting me, my clients and other small-business owners this week.

The Big Story: Whose Week Is It?

National Small Business Week kicks off. President Obama holds a small-business round table and proposes new tax incentives. But the chairman of the House?s Small Business Committee says the majority of the president?s policies have ?burdened? small business. A new report finds that running a small business is three times more stressful than raising children. Half of small-business owners say they?re successful.

The Economy: Is the Debt Ceiling Moot?

Anxiety over ?Taxmageddon? increases and John Snow is concerned. Goldman Sachs says the coming ?fiscal cliff? could shrink our economy 4 percent. James Picerno wonders if we?re heading toward recession or just more slow-growth turbulence. Paul Krugman makes the case for overreacting. President Obama?s budget is defeated 99 to 0 in the Senate. Ezra Klein wonders if the 2013 debt ceiling will be moot. A stronger dollar drives oil prices lower but the International Monetary Fund predicts that oil prices will double in 10 years ? and a newly discovered Mayan calendar confirms that we?ll still be around to pay.

Data: Autos Are Driving the Economy

Builder confidence rises again, starts of privately owned housing (pdf) are 29.9 percent ahead of a year ago, Mark Perry says it?s a real estate ?blowout? and a Time magazine report says the housing market recovery has ?officially begun.? But architects? billings go negative. A rise in sales of cars and trucks is driving the economy. Machine tool orders and conveyor sales are both up. Industrial production increased 1.1 percent in April. Manufacturing grows in New York but contracts in the Philadelphia region. The consumer price index remains unchanged. Business collections drop. Retail sales continue to be strong. Wal-Mart reports a 10 percent increase in profit. And Peter Orszag says the good news on jobs is coming from big businesses, not small. This is the 250th anniversary of the sandwich.

Start-Up: Created by Mistake

A new episode of ?TechStars? explains why some start-ups must pivot. Here?s how to start a health care business. Donna Rosato explains the real costs of starting a business. A start-up?s $10 raffle promises to send a winner to the stars (where Darth Vader brainstorms). Mayor Michael Bloomberg unveils the ?Made in NY Digital Map,? which tracks jobs created by Silicon Alley start-ups. Meanwhile, a couple of guys give a Ghostbusters tour of New York, and a report explains why New York City is best for small businesses. Shayan Zadeh says that if you?re trying to start a business, you should? get ready to mess up and start over: ?What do penicillin, the Post-It note and even chocolate chip cookies have in common? All of these inventions were created by mistake.?

Management: Prison Business

When interviewing job candidates, remember that one more year of school and a cup of coffee may both increase their longevity, but keep an eye on how much sugar they take. Think it?s O.K. to ask employees for Facebook log-ins? Think again. This chief executive will pay his employees $100,000 for a good idea. Jay Goltz shares three lessons he?s learned about hiring. Here are nine steps for managing employee volunteer programs. Paul Shread explains how to keep business projects on track. Harvey Schachter reports on five major mistakes leaders make. Corazon PB. Claudio talks about the challenges of business continuity planning. In their new book, Leonard A. Schlesinger, Charles F. Kiefer and Paul B. Brown say there are some lessons small-business owners should take from serial entrepreneurs, such as: ?Begin by taking a small (smart) step forward. It may not be the right direction, but as the owner of a small business, you will never know if you do not try.? Hey, running a business from prison isn?t as easy as you think, O.K.? Veronica Pamoukaghlian wonders if you need intelligence to be successful. Tali Sharot explains why we?re born optimistic.

Around the Country: Needle Arts

Curt Schilling strikes out in Rhode Island. Illinois may be raising its minimum wage. Births of minorities surpass those of whites. North Dakota is the nation?s second leading oil producer. This impoverished city is building an economy on co-ops. How did these three simple buttons increase tipping by $144 million in New York City cabs? A California airline offers unlimited short-haul flights by monthly subscription, and the cash-short state is offered a piece of the action from Internet poker. Amazon is hiring 1,000 workers in Seattle; Hewlett-Packard is cutting 30,000. A Narberth, Pa., mother creates a business in the needle arts. Some 53,000 dead voters are found in Florida. A packaging manufacturer is building a new facility in Ohio. A Columbia University janitor graduates with honors and another graduate proposes to his girlfriend during commencement. These are the most social media savvy cities in the country. Researchers at a California lab make electricity from viruses.

Around the World: The Cheapest Gas?

China grants new quotas for rare-earth exports while a report says economic growth there is sowing unhappiness. Brad Plumer answers frequently asked questions about Greece?s economic troubles. This slide show reveals the cheapest gas prices by country. A traveler has an enormous revelation.

Marketing: Facebook Goes Public

With Facebook going public, you can celebrate by checking out Zuckerberg: The Musical! Half of Americans consider Facebook a fad. Dion Hinchcliffe considers the social business implications of the company?s public offering. Here?s what happened to a pizza shop that bought an ad on Facebook. John Jantsch lists 13 questions that will improve your marketing strategy. American Express enters the daily deal business. The Clios are awarded to the best ads of the year. Tim Maly says that instead of business cards, you should design a flip book and video. Erik Wolf suggests five ways to tell if you?re hiring the wrong search engine marketer. Lee Odden says there are five ways to optimize the business value of attending conferences, including: ?Think about how you can leverage your conference experience to create new content for your company blog, articles or process documentation.? Pamela Slim believes that if you expand your comfort zone, you can expand your market.

Finance: Lose Your Pride

JPMorgan Chase loses another billion and conflicting signs emerge over whether the bank?s trading losses will spur tighter regulation. Richard Saintvilus says Wells Fargo is the cheapest, safest bank. A venture capitalist explains what she looks for in a chief executive. Jeffrey R. Cornwall explains how to find a small-business-friendly bank. Citibank and American Airlines introduce a new credit card aimed at small businesses. Sunil Rajaraman explains how to raise $1 million: ?Lose your pride.? NASA counts 4,700 potentially hazardous near-Earth asteroids.

Red Tape: Another Burden

Available tax credits could help up to 3.2 million small businesses provide health coverage for their 19 million workers. The Senate approves funds for the? Export-Import Bank. Jennifer Carey says the E-Verify requirement would place another burden on small businesses: ?At a time when the nation is trying to encourage small businesses to expand their payrolls, the measure would potentially add thousands of dollars in expenses and give them another reason to have second thoughts about taking on additional workers.? A study finds small businesses believe protection of public lands is good for business.

Technology: The Worst Phones

Pinterest is valued at $1.5 billion. From Gizmodo: the worst phones you can buy. This animated video explains how Gmail works. A customer-relationship management solution for e-mail users raises $500,000 in angel funding from a few well-known investors. Rob Pegoraro explains why it?s not crazy to pay for an e-mail account. Did you know that Toy Story 2 was nearly deleted? Twitter starts a weekly news e-mail. Software engineer is 2012?s top job. Dmitry Davydov reports on seven little-known online services that can help your business save money. Pam Baker explains what big data means to small business. Dave Meizlik busts five myths about cloud security, including this one: ?My strategic security vendors secure my cloud.? Google begins the transition from ?search engine? to ?knowledge engine.? Sage introduces new tools for small businesses. And please just smile.

The Week?s Bests: Write Your Obituary

Aida J. Ingram says you need to finish what you start: ?Before you start a new project, ask yourself these three questions: Why is this important to me? I know I love the idea, but do I need to be the one to do it, or am I the supporting cast for someone else?s dream? Do I care enough about this project to make sure I see it through until it?s completed, no matter how long it takes??

Bill Taylor says your company?s obituary can shape its future: ?If your company went out of business tomorrow, who would miss you and why? That?s an urgent question for companies in every industry, because every industry has customers with an unprecedented array of products, brands and options from which to choose. In a world defined by unlimited choice and unrelenting sensory overload, if you have customers who can live without you, eventually they will. In order to increase the odds of your company having a long and prosperous life, it pays to write an unblinking ?obituary? and wrestle with its messages and implications.?

Jeff Haden says remarkable entrepreneurs have nine qualities: ?They ignore the 40-hour workweek hype. Studies show that working more than 40 hours a week decreases productivity. Whatever. ? There will always be people who are smarter and more talented than you. Remarkable entrepreneurs want it more. They?re ruthless ? especially with themselves. Remarkable entrepreneurs simply work harder. That?s the real secret of their success.?

This Week?s Question: Have you written your company?s obituary?

Gene Marks owns the Marks Group, a Bala Cynwyd, Pa., consulting firm that helps clients with customer relationship management. You can follow him on Twitter.

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