The Cheap Revolution

12 Cheap Employee Incentives that Will Pay Off for Your Company

 

 

 

 

 

 

 

 

 

 

 

 

Every business is looking for ways to create happier and more productive employees. However, with the economic recovery still slower than expected, many companies don’t have the budgets they once did for employee incentives. In fact, many businesses are simply trying to survive.

Still, with some creativity, you can come up with several affordable ways to incent your employees and make them more loyal and more productive. Here are 12 inexpensive ways of rewarding your employees that can really pay off for your company:

1. Free School Supplies. Buy your employees’ school supplies for those with children by letting them raid the supply closet at the beginning of each school year. Since there are volume discounts available from companies like Staples, the supplies will end up costing you hardly anything, while your employees will appreciate not having to buy school supplies for their kids. 

2. Snack of the Month. It’s no secret that people love variety, especially when it comes to food. Give your employees a new snack around the office each month, and they will greatly appreciate it. In fact, at the beginning of each month, the conversation will be guessing which new snack it will be. Some good online resources to save money on snacks are My M&Ms (branded with your logo), Harry & David, Dale & Thomas Popcorn and Nuts Online. 

3. Computer Discount Program. Along the same lines as the gift card incentives, many companies offer their employees the opportunity to buy a computer at a discounted price. HP has a special Business Center section on their site that has discount programs that are easy for most businesses to join. 

4. Gift Card Incentives. According to recent studies, gift cards have a higher perceived value for employees than cash. This is because it is easier for the employee to imagine what they will spend the money on. Gift cards are easy for employers as well because they are easy to order and distribute, and they can often receive volume discounts. You can go even further and use them as a branding tool by having the gift cards you distribute branded with your Company information by using GiftCards.com, which also offers cards at less than face value.  

Here are some suggestions for popular and affordable gift cards that will motivate your employees:

• Groupon: Groupon is one of the hottest ways for people to save money on purchasing products or services in their local area. They offer deals on everything from automotive to electronics to travel to countless other categories at significant savings over buying directly from the merchant. This is a great way to provide your employees with valuable incentives while saving money in the process. To get started, pick your city then scroll to the botton and click on "Corporate Gift Cards."
• Amazon or iTunes: These are two of the most popular gift card options. For the best deal, grab them at eBillme.com and save up to 10%. 
• Restaurants: Who doesn’t love to go out to eat? A gift card from Restaurant.com is sure to be a hit with your employees. They provide most $25 certificates for only $10 and allow you to select from local spots instead of chain restaurants. 
• Movie Tickets: People still love to go to the big theatre to see a movie, but many think it’s getting too expensive these days. A $25 gift card from Fandango.com can give your employees a rare treat they are sure to thank you for.
• Health Club Memberships: Encouraging employee fitness can pay off in numerous ways. You can give them a free month or two, or discount each month on a membership to a popular health club like Bally Total Fitness or 24 Hour Fitness (click the links for special deals!).
• Gas Reimbursement: With the cost of gas going ever-higher, employees are concerned about the expense of commuting to work. Why not help them out by rewarding them with a gas card coupon? I couldn't find a gas-specific gift card but there are many Visa, Mastercard or American Express cards to choose them at GiftCards.com.
• Tickets to Ball Games or Concerts: Even in a tough economy, sporting events and shows are still America’s favorite pastime. Your employees will really appreciate two tickets to a game or concert, and you can get them discounted from places like Tickco, Ticket Network, or Tickets Now. 

5. Put Your Employee on your Shared Wireless Plan. If you have a business that requires continual communication with employees outside the office, then it makes sense to put them on a shared wireless plan with your company. Be careful though, and make sure you set up a plan that does not allow them to rack up costly overage charges. 

6. Flexible Scheduling. Very few things make an employee happier than the ability to create their own schedule. If your company has the flexibility to allow your employees to at least partially set their own schedule, then by all means take advantage of it. 

7. Work from Home Option. Again, this is dependent on your business as to whether or not you can allow this. If you are able to allow your employees this option, why not let them work from home once a week or once a month? Employees love to have this option on Fridays, so they can be home earlier and get ready for the weekend. 

8. Weekly Pizza Day. Along with the snacks, it’s a good little perk to buy the employees lunch once a week. This saves them from having to pack a lunch or spend $10 or more going out to eat. Also, pizza is very popular and relatively inexpensive, especially when purchased in bulk. In keeping with the spirit of variety, order from a different pizza place each week. 

9. Casual Dress Days. Most people love to dress casual and would prefer to go to work this way. If your business model allows it, let your employees dress casual or at least “business casual” once or twice a week so they are more comfortable while working. Friday is always a good day for this. 

10. Have Fun in the Workplace. A fun work environment enhances productivity. Put some people in charge of playing practical jokes and handing out novelty items to mix things up around the office. ThinkGeek.com has a great selection of novelty and odd items to spice up your work environment.

11. Regular Company Outings. There’s no better way for workers and management to bond and get to know each other better than a company outing. Organize regular company picnics and other outings like softball games. It will make your employees feel more like family and they will feel more loyal to your business. 

12. Hand Written “Thank You” Notes. Finally, when an employee does a good job, often times a pat on the back goes further than a financial reward. Don’t forget to take the time to acknowledge an employee when he/she does a good job. This will make them feel good about the company they work for and motivate them to keep performing well. 

We hope you found these tips for employee incentives helpful.  What are your favorite tips for employees?   Leave your best ideas in the comments to share with the community.

TribeCon kicks off conversation about Community

This week in New Orleans kicks off an important conversation about Tribe Building.  TribeCon will be held October 29-30 in New Orleans, Louisiana in partnership with the Voodoo Experience. The conference will feature inspiring and educational presentations by world-renown panelists. All panels will focus around building community online and offline, and leveraging communities to accomplish amazing things.

The lineup includes conversations about failure and community, microcontent communities, how to Rawk a new community,  community across contexts (both online and offline themes) and many others.   Sounds like a lot of fascinating topics.   As an added benefit, the conference is co-located with the Voodoo Experience - a New Orleans Music Fest featuring top tier talent. 

I'll be watching @TribeCon on Twitter, but I've been able to watch Chris Schultz and TIffany Starnes, co-founders of TribeCon create a community to help them build this conversation.  They've done a remarkable job.  

I'll also be using this as a kickoff to my series on conversations about community building.  I've asked some of the best community builders to answer five questions about community building.   As a guy who keeps trying to get the community building formula right, these are some of the insights I'm hoping Tribecon will help answer this week! 

1) How would you characterize successful communities you've helped to build?

2) what are hallmarks of building a "strong community"?

3) what are some of your community building best practices?

4) what roles need to be filled early during a communities growth?

5) what helps sustain a community over time?

Before I start blogging the community builder responses I received,  I'd love to hear your thoughts on community building.  Do you have answers to any of these questions?   What other questions would you ask community builders? 

Visibility to Profitability

For six years, Team and a Dream has been honored to work with entrepreneurs who started companies like Crederity, Yodle (when it was still Natpal.com), Teleosis Insitute, Healthy Humans and Herb Magee.  During that time, we completed hundreds of projects like market assessments, competitive intelligence, web strategy, web-based marketing, buzz-building, social media and more.  

Today's economic environment is a crushing challenge for small businesses.  They are aggressively seeking ways to grow their footprint, extend their reach and fill the pipeline with more qualified customers.  They need visibility to profitability. They need to navigate the marketing options and find the ones that fit them best, cost effectively.  They need a firm that can deliver on all of the options and maintain a closed loop marketing approach ... showing whats working and what isn't ... on a weekly basis.

Against that backdrop, we are extending our services to work with small businesses under $100 million. These firms have many of the same challenges as technology startups and they are increasingly challenged to create credible and effective Internet Marketing campaigns. Firms that were getting away with a decent web site can no longer ignore the power of Internet Marketing.

The landscape has grown progressively more complex since we started in 2002.  As we navigate the landscape with our clients, it has become clear that we needed to have a comprehensive view of Internet Marketing.  Marketing service providers need to be focused on creating revenue for their clients.  Small firms competing today need Visibility to Profitability.  In fact, the days of the targeted agency, design firm or SEO firm may be numbered.  Consider this quote from Inbound Marketing Guru Peter Caputa in his Predictions for 2009.

"Most One-Trick-Pony Agencies will Die The website design business - as a standalone business - will die. So will the traditional PR agency and the traditional ad agency. There are far too many 10-30 person agencies who do just one thing. In the past few years, mid sized businesses have moved more and more of their budget to agencies that can do interactive marketing work: demand and lead generation. This year, those agencies will start adding some traditional agency services to their offerings. Then, they'll just take away all of the business. They won't just take it from traditional agencies either. Web site development companies have just as much to worry about. This is the year for marketing and web development agencies to adapt or die. They MUST develop services that generate demand for their clients. They must turn themselves into inbound marketing agencies. It's more about delivering an ROI. Not just billable hours. "

We've been working with a few early adopters on a metrics-driven, results-oriented approach that utilizes a weekly metrics dashboard.  Combining stats from Google Analtyics, Hubspot and proprietary internal systems, we report on performance of campaigns relative to the client's specific goals and objectives.  This has led to powerful conversations about the marketplace, the unique selling proposition and the messages that work.  Using these techniques, we've been able to deliver client results such as month over month traffic growth of 275%, revenue growth of 300% and inbound link growth of over 400%.  

In fairness, many of these online businesses were very young... but that isn't unlike what we see with many small businesses.  They just don't have any web presence to speak of.

Moving forward, our blog and web site will continue to provide resources and guidance around the most cost effective tools and powerful strategies for Internet Marketing.  We will be adding in the context of understanding the big picture and creating measurable results.  Its the only way to compete and survive in this dynamically changing environment. 

How has your company taken a comprehensive look at marketing?  What kind of closed loop marketing approaches have been successful for you?

Google Promotes Social Entrepreneurship

Need one more reason to love Google?

They recently announced what they're calling the Project 10 to the 100th contest where they're looking for "ideas to change the world by helping as many people as possible." Their reasoning is that helping other people is the one thing (besides material wealth) that increases an individuals happiness over time. As a result, they're looking for ideas that not only help people - but ideas that will help the most number of people. Not only will you get the benefit of helping others, they'll also invest $10 million (yes, $10 MILLION) to make it happen themselves.

How does it work?

All you have to do is submit your idea using this 20-question submission form. You can also upload a 30-second YouTube video to their channel explaining your idea in more detail. Google will select the top 100 ideas and ask the public to vote until 20 semi-finalists are left. An advisory board will select up to 5 final ideas and Google will use the $10 million dollar pool to implement it.The winners do not receive any of the prize money - but they will have the satisfaction of making a difference and the accolades to go with it.

Your idea can be submitted in 8 categories total - Community, Opportunity, Energy, Environment, Health, Education, Shelter, and Everything else.

To increase your chance of winning, keep these criteria in mind (as shown on the site):

• Reach: How many people would this idea affect?
• Depth: How deeply are people impacted? How urgent is the need?
• Attainability: Can this idea be implemented within a year or two?
• Efficiency: How simple and cost-effective is your idea?
• Longevity: How long will the idea's impact last?

The deadline is October 20th and more than one entry is allowed so start brainstorming right away!  Check out the current submissions here for inspiration.

How are you going to change the world?

By: Yasmine Mustafa

30 Things Every Entrepreneur Should Know How to Do

I started this post thinking I would quickly list ten things every entrepreneur should know how to do. Before I knew it, I had over twenty items. Skip and Megan (our summer intern) added their own ideas to the list to make the final thirty. Read on and add your own ideas to the list!

1. Communicate well with others - especially when articulating their concept
2. Work well with others
3. Delegate to team members
4. Present well in front of a crowd
5. Listen to their customers AND their critics
6. Perform competitive and market research
7. Write a business plan
8. Adapt to change - (Also related, staying open and flexible)
9. Being able to share their idea with others
10. Set and meet goals
11. Learn from failures
12. Take initiative
13. Bootstrap
14. Network
15. To focus and set priorities
16. To think outside of the box
17. How to put themselves in their competitors and customers shoes
18. How to think ahead
19. Market their product/service
20. Market testing their product/service
21. Be persistent (and not give up)
22. Understand financial statements
23. Attract and retain great people to their Team and Dream
24. Inspire through vision (Also related, being a good leader)
25. To dissect their behavior/motivations/strengths/weaknesses
26. Wear many hats
27. Continuously strive for self-improvement
28. Know their marketplace inside and out
29. Not sweat the small stuff
30. Balance life, friends and school or family (or both)

So what do you think? Are there any you disagree with?

By: Yasmine Mustafa

30 things every entrepreneur should know how to do
Building Trust with your Online Users
Top Entrepreneurial Quotes
99 Free Online Classes on Business & Entrepreneurship
15 DIY PR Ideas

Team and a Dream Guest Blogging Interview

Thanks to Akemi of "Yes to Me" for posting a guest blogging feature on Skip and myself. Akemi's blog features posts around spirtual growth and how it applies to our personal and work life.

Akemi stumbled upon our blog and e-mailed us about conducting an interview around our experiences with entrepreneurship. We discuss Team and a Dream, the challenges we faced as new entrepreneurs including how we overcame them, what we enjoy most about being entrepreneurs, and we end the interview with a few pieces of advice we've learned. Check it out - "Serial Entrepreneur Meets College Intern."

Excerpt:

"3. What is the best part of being an entrepreneur for you?

Skip: Helping others to realize their dreams and influencing those dreams so that entrepreneurs are approaching things with a socially conscious approach. It is my way of “giving back” to a world that has been very generous to me.

Yasmine: The best part (without a doubt) is not having to sit in traffic as often in the morning and late afternoon! It’s also working on things I love doing. Brainstorming strategies, formulating the concepts of an early stage company, observing the end results of a marketing project or another engagement - those are the most exciting parts of what I do.

4. Any advice for people who dream to have their own business and yet find it hard to make the leap?

Yasmine: Don’t wait for the perfect idea - it’ll never come. Find an experienced mentor who’s been-there and done-that. He/she can provide you with needed guidance and support. I would recommend starting with something you’re either passionate about or something you’re good at. One or the other (or both) will provide you with a jumpstart in your business. Once you take the leap, you’ll feel exhilarated. There is no better feeling than knowing you’re starting something on your own.

Also, listen to your gut instinct. Life is too short to live someone else’s dream - follow your own!

Skip: The web has made it very easy to start a new business. Get out there and make it happen. Test out your ideas with a close circle of friends first and then with people who understand the business side. Launch early and often. Provide feedback forums for your clients. Listen closely to the market. Participate in the market conversation. Iterate. Focus. And always ask, “How is this business helping others or helping this world to be a better place?”

If you choose a path with heart, you will have a much higher likelihood of attracting partners, vendors and clients who want to see you succeed. One of my favorite quotes on this is by William Jennings Bryan.

“Destiny is not a matter of chance; it is a matter of choice. It is not a thing to be waited for; it is a thing to be achieved.’ - William Jennings Bryan (1860 - 1925)"

Win Capital for Your Startup

It's no surprise that one of the main reasons internet startups fail is because they run out of money. We at Team and a Dream are constantly meeting entrepreneurs who are looking for help in obtaining venture capital funding. While we get them ready through our Business Preparation service and make connections when possible, it can be a long and challenging process.

An alternative to seeking VCs (or at least as a way to buy time), is to go to family and friends and maybe angel investors. If you're in between and looking for another option - it's time to enter Business Plan Competitions. How can you enter these contests and win your startup capital? Check out the links below for more information and eligibility requirements. Some of these end soon so don't procrastinate!

Name	Description (from website)	Prize	Deadline
Intuit Just Start Contest	Tell us what you'll Just Start. Fact, fiction or fantasy.  What have you always dreamed of doing? What are you resigning from and moving towards? And, how will the Just Start grant ($50k) help you strike out on your own?	$50,000 plus services	December 15, 2007
Web Startup Contest 2007	Do you have an idea that will solve a problem, express creativity, or change the world? Roll up your sleeves and submit your web application or business idea.	$15,000	December, 31, 2007
ATG e-Commerce Ingenuity Business Plan Competition	ATG will connect budding entrepreneurs with leaders in e-commerce, and provide valuable feedback from visionaries who have shaped and continue to guide the e-commerce industry.	$50,000	January 30, 2008
Ideablob.com Contest	Describe an idea for a legitimate business that may be lawfully operated in the United States that does not involve alcohol, illegal substances, tobacco, firearms or pornography in any way.	$10,000	March 31, 2008

Another contest to watch out for is run by Y Combinator. It's different in that U.S. technology entrepreneurs don't only compete for money - they also compete for the chance of being locked in apartments with each other where they work for three months straight to start their own companies. The program offers one-on-one mentoring with experienced consultants, legal assistance with filing the paperwork needed to start their business, personal intros to investors, and dinner once a week with a successful entrepreneur. This contest is held twice a year and the most recent one just ended this past October. Look out for the next one early next year.

I've personally entered a few competitions myself - not online, but at my school at Temple University. I was discouraged when I didn't place in my early years at school but I persevered and have won their Innovative Idea Award Competition two years running - once as an undergraduate and most recently as an alumni.

Entering a business plan competition isn't as daunting as it seems, but it does require time and effort. It can also be rewarding whether or not you win. Getting your ideas on paper helps you define the feasibility of your idea/business and it's something you need anyway when you're meeting with VCs or angel investors. Imagine how much smoother that meeting would go if you had just won one of these competitions? In addition, it can also be a great way to network and open other doors - win or lose.

If you know of other business plan or startup competitions, feel free to share them with us below.

By: Yasmine

Announcing our Technology Entrepreneur's Circle

Our 25-plus years of experience with startups facing common issues has led us to create our newest offering - a circle of entrepreneurs at similar stages in their technology startups. The circle provides teams with access to a professional investor and a strategic advisor as well as a serial entrepreneur advisor for a fraction of the fees they would charge to consult with them individually. In addition, it also provides a network of support and allows us to leverage our expertise across multiple startups concurrently.

Furthermore, the circle also provides a network of support and allows us to leverage our expertise across multiple startups concurrently. As an added benefit, a Team and a Dream intern is available at the biweekly one-and-a-half hour facilitated sessions, providing entrepreneurs with extra muscle to put the ideas generated in the meeting into practice.

Our Program Details and Benefits:

· You work with two specialists. Twice monthly you’ll have a 90-minute teleconference with a professional investor/strategic advisor and a serial entrepreneur advisor.

· We focus on your issues.  There will be opportunities to bring your specific issues to the Circle for brainstorming and exploration.

· Intern consulting support included. Our cohort intern will work with each company for one hour on the topic of the week. (Additional execution is available)

· Online repository included. Each client will have an online repository to organize their project documents.

· Network and collaborate with a peer group. Meet and gain support from people struggling with the same issues as you.

· We will focus on special topics relevant to your company. The topics covered will be customized to fit your needs. Examples include Software Vendor Selection, Search Engine Optimization, Putting a Marketing Blitz Together, Business Plan Development, Assessing and Defining the Market, Competitive Issues, Go-to-Market Strategy, Developing Realistic financial projections, Creating Investor Presentations, etc.

· Includes a Value Needs Assessment. Provides a comprehensive map of what your business needs now.

· Savings of over $600 a month! You’ll work with two experienced specialists for a fraction of the price - allowing you to receive high value at a low price point. 

Our Advisors and their Background:

Skip Shuda is the founder of Team and a Dream, which helps early-stage technology companies get to the next level. For over 20 years, Skip has been an innovator in the use of new technology to enhance the growth and profit potential of early-stage software, service, and technology companies. He founded Destiny Websolutions in 1994 which grew to over $17 million in revenues and 120 employees. For more information on Skip's background, please click here.

Laurie Burstein is a professional investor manager, who knows what makes companies successful. Professional psychologist turned "veteran micro-cap investor," she has been rated as one of the top microcap portfolio managers in the country*.  She is currently the President of Oakwood Capital Management, Inc., and Managing Principal of Dartmouth Strategic Advisors. In addition, she is a Steering Committee Member of Temple University's Mid-Atlantic Diamond Ventures, providing support to early stage companies technology and life science companies that are seeking funding. Laurie has also been a judge at Temple University's Annual Business Plan Competition.

Natpal's Nate Stevens talks about recent venture raise

Earlier today I spoke with Nate Stevens, CEO of Natpal of some big news for this Philly-born Tech Startup.  Natpal helps drive leads and traffic to local businesses like restaurants, spas and opticians using their "track and enhance" online marketing methodology. 

I met Nate a couple of years back while acting as his advisor through the Wharton SBDC.   At that point, Nate had a dream and not much else.  He was assembling a team from the UPenn student body.  I remember talking to Nate about the best way to test out his idea ... get it out there and see what people say.   He listened and quickly signed up his first five clients.  When the clients suddenly started getting real traffic through Natpal's offering, they were more than willing to give testimonials on their results.

I was thrilled to learn about Natpal's raising $5 million in a combined equity/debt deal with Bessemer Venture Partners.  I asked Nate what the keys were to getting Natpal ready to raise money  and VCs ready to invest.  He rattled off three things right away.

1. They got good at the roadshow.  Communicating their vision effectively was an iterative process that yielded results once it was tuned
2. They reached critical mass. Once Natpal crossed the $1mm annual revenue mark with a lot of forward momentum, investors became interested
3. They spent time making sure they had good answers to the hard questions.  For Natpal that meant they had good answers to questions about margin, building their sales team and scaling the business

If you are interested in movers and shakers, keep an eye on Nate Stevens and Natpal.  If you are interested in driving traffic to your favorite local business, have them give Natpal a call.

Team and a Dream interns win First Place

Team and a Dream interns Pitchada "Peach" Jindasataporn and Yasmine Mustafa won First Place in the Business Innovation Competition in the area of Innovation Ideas from a field of over 80 entrants. Entries were judged by a panel of experienced entrepreneurs, senior corporate executives, and venture capitalists from the greater Philadelphia area.

Yasmine and Peach are Entrepreneurship Majors at Temple University and assist Team and a Dream as marketing specialist interns. Team and a Dream founder, Skip Shuda, relays, "I'm pleased to congratulate Peach and Yasmine. We are fortunate to have such talented people helping to deliver value to our clients. Yasmine and Peach have demonstrated drive, creativity and ownership from the first day they started with Team and a Dream. They are both destined to be world class entrepreneurs! I am proud to be associated with them."

The two winners received cash prizes, software, and use of the Innovative Lab to prepare for future competitions. Three idea papers were entered. The winner was called "Wash of the Mall." It is a car wash located in shopping centers or in mall parking lots where customers could drop off their car while shopping and pick it up when they’re finished.