Common mistakes business owners make when they set out to cut costs

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From: SmartBrief on Small Business <smallbusiness@smartbrief.com>
Date: Tue, Aug 28, 2012 at 9:59 PM
Subject: Common mistakes business owners make when they set out to cut costs

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August 28, 2012 CONNECT WITH SMARTBRIEF Share | Sign up | Archive | Advertise Problem. Solved.  Business owner finds happiness with a little help from her hubby After four years in business, Frances Weldon realized she wasn't happy with her business, a store she opened with her husband in 2008. She eventually realized that the key was to split up the responsibility with her husband; she took on the front-office operations. The new work arrangement has been a success, and the pair are planning to take a vacation. The Globe and Mail (Toronto) (8/27)       Earn 3X rewards points when you fly with The Business Gold Rewards Card from American Express OPEN. Designed to earn Membership Rewards® points faster: • 3X points on airfare • 2X points on advertising, gas, and shipping • 1X points on everything else LEARN MORE AND APPLY Marketing  7 Pinterest tips for B2B marketers Pinterest, which has quickly grown into one of the largest social networks in the U.S., can be used to show off the human side of your business-to-business company, writes Naomi Ruth Ganhinhin. Try posting photos of events such as trade shows and of the people who work at your business, she recommends. Also, use the network to promote your blog. TopTenWholesale.com (8/27)       Management  What to look for in a social media manager When hiring someone to manage your company's social media presence, you should look for someone who is curious, with strong conversational writing skills, writes Mikal E. Belicove. Your manager must also understand what your company is trying to accomplish and be able to work with others. Entrepreneur online/The Daily Dose blog (8/24)       Why business owners must find time to focus on themselves CBS MoneyWatch (8/24)       Money  Common mistakes business owners make when they set out to cut costs Businesses should avoid cutting back budget on three major areas -- customer service, marketing and employee perks, writes Catherine Clifford at Entrepreneur.com. Instead of cutting back on customer service, which will be noticed by customers, business strategist Carol Roth advises to "maintain or beef up in the areas that are going to impact the customer." Employee perks promote loyalty and keep up office morale. Remember that employees are just as important as customers, Roth says. Entrepreneur online/The Daily Dose blog (8/27)       How to deduct the use of a vehicle for business purposes You can get a tax deduction for expenses associated with the business use of a vehicle, writes Bonnie Lee. It's important to keep documentation related to the use of your vehicle in case the IRS questions the deduction. Fox Business Small Business Center (8/24)       Tips & Tools  New Evernote edition is designed to help SMBs A new version of Evernote will be intended specifically for business users. Evernote Business, scheduled to come out later this year, will allow company owners to manage data access and help employees to work with one another. PCWorld Business Center/Simply Business blog (8/24)       A tool that can teach you about keyboard shortcuts SmallBizTechnology.com (8/24)       Featured Content  Is Business Travel Ruining Your Business (and Your Life)? The Entrepreneur's Bucket List QR Codes Make Print Campaigns Jump Off the Page Customize Your Customer Service The Three Golden Rules of Focused Marketing Just for Fun  Racing birds disappear in U.K.'s "Bermuda Triangle" Pigeon racers in the U.K. have lost a large number of birds this year, and they refer to the region where they have vanished as the "Bermuda Triangle." There are a wide variety of proposed explanations, but the most popular one is that the birds have gone off course to avoid rainstorms. The Telegraph (London) (8/24)       SmartQuote  If you are cutting back in areas where your customer is going to notice, that is a mistake." --Carol Roth, business strategist, as quoted at Entrepreneur online       SmartBrief delivers need-to-know news in over 100 targeted email newsletters to over 3 million readers. All our industry briefings are FREE and open to everyone—sign up today! 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