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Recent Press Releases (U.S. and international) for magazine issues and staff changes may be found below. Please note that for many issues there exists only a highlights sheet, while for others there may also be a full press release. The cover of FSB's current issue is pictured at right. Please contact the appropriate communications staff member with any questions.
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Highlights of the October 2007 Issue of FSB: FORTUNE Small Business
COVER STORY: Do Your Customers Love You?, by Justin Martin, page 72 Surveys show that more consumers than ever are fed up with bad service. Meet seven entrepreneurs who profit by bucking the trend. According to the University of Michigan's 2007 American Customer Satisfaction survey, overall customer satisfaction remains flat over the past year. Now for some good news. As new technologies empower the aggrieved to expose bad service, fresh opportunities are rising for anyone who can delight customers. That especially holds for small businesses. FSB went in search of small companies that have mastered the art of extreme customer service. We talked to experts, business owners, and of course customers. One point quickly became clear: Every company says it gives great service. But actually delivering is a very different matter. We tuned out the talkers and focused on the walkers — companies that have creatively delivered big upgrades in customer service. We picked seven that represent a range of industries and challenges, from catering to finicky B-to-B customers to providing superb service over the none-too-friendly Internet. All attend to customer service in a systematic way; maybe some of their methods are worth adapting for your business.
Who Connects With Small Business?, by Richard McGill Murphy, page 16 So far no candidate strikes a chord on the top issues facing entrepreneurs: health care, immigration, and tax reform. Many small-business owners haven't made up their minds about the candidates. A plurality (28%) of the respondents in a recent FSBI Zogby International (zogby.com) survey of entrepreneurs chose "None/Not sure" as the candidate most likely to help small business, followed by Republican Mitt Romney (21%), and Democrat John Edwards (19%). While it's not unusual for many voters to be undecided half a year before the first primaries, the current high rate of skepticism reflects a consensus that the candidates are making little effort to court Main Street voters. Overall, our poll shows entrepreneurs concerned about law, order, and the bottom line — and still searching for a candidate they can trust to deliver meaningful reform. FSB explains why the current field of presidential candidates leaves most entrepreneurs cold.
More Red Tape for Honest Employers, by Renuka Rayasam and David Robinson, page 24 The feds are renewing threats of jail for those who hire illegals. But while the latest rules stir fear, there's little hope for enforcement or reform. Secretary of Homeland Security Michal Chertoff recently announced that the Social Security system would be used to warn companies that hire undocumented aliens of possible penalties. But the new policy, in effect Sept. 15, will do little to discourage illegal hiring or help honest employees find legal workers. If anything, Chertoff's bureaucratic bluster shows how badly our existing immigration regime needs an overhaul. And without comprehensive reform of our broken immigration system, government "crackdowns" will have little effect on owners or on the illegal immigrants many of them employ. FSB explores the issue that affects small business owners in a big way.
A New Solution to the Obesity Crisis?, by Ian Mount, page 20 Midwestern hospital operator Clarian Health caused a stir when it announced that next year employees who smoke will be assessed $5 per paycheck in extra insurance co-payments, and that in 2009 it will extend the penalty to workers with high cholesterol, blood pressure and blood glucose; obese employees will be charged $10 extra. Final federal rules for such programs went into effect in July, giving employers firm legal footing to push workers into healthier lifestyles. Rex Materials, a $20-million-a-year maker of insulation in Fowlerville, Mich., has proved the programs work. In 2005 President David Rex offered to cut premium co-pays $10 a week, or about 20 percent, for workers on the PPO plan who undergo a health-risk assessment. Those who maintained a minimum rating or raised their scores closer to the cutoff by taking steps, such as quitting smoking or lowering blood pressure, kept the discount.
Gentlemen (and Ladies), Raise Your Prices!, by Justin Martin, page 26 Amid growing competition, these business owners hiked their fees and still kept key customers. Pricing issues often vex small businesses, especially in today's climate, with competition — domestic, foreign, and Internet — rising along with costs. But veteran business owners and pricing experts say that if more small companies freshly examined their competitive positions and service offerings, they would find that they could raise prices, keep key customers, and boost their bottom line. FSB explores ways to make it work and offers creative strategies from small business owners.
Safer Babies, by Lisa Palmer, page 51 A biotech startup promises accurate prenatal tests without the risks. Ravinder Dhallan, who earned doctorates in medicine and biomedical engineering, resolved to invent a better prenatal diagnostic program after watching his wife suffer through two miscarriages that had a genetic basis. Dhallan had long dreamed of solving a scientific problem and building a business around his discovery. His patented procedure, called Rapid Analysis of Variations in the Genome, and incorporation of a biotech firm called RavGen, has led to his transition from physician to entrepreneur. FSB profiles just how this MD did it.
Born Again Robots, by Mina Kimes, page 57 Think you can't afford automation? Think again. Industrial robots have long been commonplace in large manufacturing operations such as auto plants. Today some 171,000 robots toil in North American factories, and sales jumped 39% in the first half of 2007, according to Robotic industries Association (roboticsonline.com), a trade group. As robot prices come down, more small manufacturers are investing in automation. While robot orders from automotive companies dropped 30% in 2006, nonautomotive orders, many of them placed by small businesses, composed 44% of all purchases, up from 30% in 2005, says the RIA. Why the trend towards automation? FSB explores how robots offer a cost-effective way to handle dangerous and monotonous work.
Voice Lessons, by Rachel C. Weingarten, page 61 Modern speech-recognition software (usually) writes what you say. Many business owners regularly talk to inanimate objects. Don't believe it? In the last week alone you've probably begged your PC not to lose valuable data or implored your notebook to recover lost documents. While we all have one-sided conversations with our tech toys, we generally don't expect them to answer, much less complete tasks simply because we say so. But today's voice-activated software promises to do just that, claiming faster speeds and an impressive 99% accuracy level. FSB reviews the latest speech-recognition software.
PLUS STARTUP: Big Picture: Breeding (Sea)horses Aquarium owners pay as much as $1000 for one of the Ocean Rider's colorful creatures. FEATURES: Where I work: Working in the Woods How to run a growing firm from an isolated log cabin. What Works: 3-D Printing for the Rest of Us Costs are plummeting for machines that quickly create prototypes and products. OFF HOURS: Wheels: New Curves Ahead An entrepreneur who loves to race takes the 2008 Mercedes C300 Sport for a heart-stopping spin. Enthusiasms: Phonographic Memory Forget MP3 players. This owner of a tech research firm finds allure in antique turntables. Gear: What's Cooking? Innovative kitchen gear made by small companies.
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