Discounts and referrals: What works now
How to stand out in a crowded field without spending loads of money on advertising.
Jenny, Deer Park, N.Y.
I own a small beauty shop in a mid-sized town on Long Island, New York. The problem for me is the competition: In the past five years, three more beauty shops opened around the five-mile area, and my business started to sink two years ago. How do I stand out from a crowded field without spending tons of money on advertising?
Comment
DiggWhat to pay the boss’s bosses
How much should you pay your company directors? First, take a hard look at what skills they’ll need to guide your business.
Paul Dzera, MGBD, New York City
What would you recommend for determining board of directors’ fee levels (annual retainer, board meeting fees, committee meeting fees, etc.), both in cash and stock options? I have a small public company with revenues of about $30 million. To date, I have reviewed the Director Compensation Report available through the National Association of Corporate Directors, but their “smaller” company information is for companies with revenues ranging from $50 million to $500 million.
What fair use protects – and doesn’t
If you’re going to use copyrighted work within your own, be prepared for legal headaches.
Cynthia Lamb, President of Rhino Entertainment, Bright, Ind.
I own a consulting firm and plan to self-publish a book detailing lessons I’ve learned. In my book, I quote song lyrics. The U.S. Copyright Office says I must get permission from the songs’ copyright holders before using the lyrics, and I’ve started to do so. But my research suggests the fair use doctrine would let me reprint a percentage of the lyrics without this hassle. Can you help me understand the law in this area?
Write-offs for work travel
Want to write off the cost of meals while you’re traveling? Here’s a rundown on what to deduct, and how.
Donna, Rome, N.Y.
My boss is an electrician and is working 4 hours away from his office. Can all his meals be deducted while away from his home office?
When ‘free’ doesn’t pay off
Offering a product too cheaply can devalue it for customers. Here’s how to zoom in on the right price point.
Emil G., Santa Monica
Is making a service free more counterproductive then selling the same service at a low cost? We recently put together a highly defined service in which we analyze the conversion rates of Web sites and make strategic suggestions – which we were already doing, it just wasn’t separated out into its own service like it is now. Our plan was to begin offering it for free initially while we worked out the kinks, but since dropping the price to zero, it seems we’ve stripped the value in our clients’ eyes. I expected the opposite. Any suggestions?
Health insurance for smoking employees
Debbie, Harland Clarke, Blaine, Minn.
Is it possible to up the insurance premius for smoker employees in some divisions of the company and not others?
Marketing in a downturn
Ray, Capital Management Group, Anaheim Hills, Calif.
I am a management & financial consultant in California, assisting small businesses in the US and internationally. I work with them to improve their business model and organize business capital up to $25 million for them. We focus on manufacturing businesses and real estate projects. Can you suggest how to to market our services in current down turn? Businesses are not enthused to borrow and banks are tightening their standards significantly. We utilize search engine marketing as well as traditional methods like email news letters, marketing associates etc. However, qualified leads are declining with each marketing dollar spent.
Prying funds from a client trying to stiff you
Armanath Nanduri, Owner, Shubisoft, Herndon, Va.
I provided software consulting services for a large corporation, which has failed to pay me the $28,000 I am owed. The corporation claims it can’t pay me until it receives funds from its client. Our contract includes no term limiting my right to payment in this way. How can I ensure that my invoices are paid without hiring a pricey lawyer?
The going rate for a finder’s fee
Mary Hardenbergh, Northville, Mich.
I run a a temporary staffing company. Clients often want to hire my consultant for the position we are temporarily filling. What is an appropriate “finder’s fee” that should be charged to the client, considering they are taking one of my independent contractors?
Alternatives to cold calling
Scott Everett, Synxe Solutions, Flower Mound, Texas
I have recently started an IT consulting firm in a potentially uncompetetive market. How can I acquire small and medium size business clients? Cold calling just seems too pressure-filled and most clients are immune to those old techniques.
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