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Would You Cut Your Own Pay To Save Jobs?

Half of all small business owners are already doing it, according to a new Staples survey. Moreover, two thirds are willing to give up "dining out, entertainment, and vacations to ensure job stability."
Half of all small business owners are already doing it, according to a new Staples survey. Moreover, two thirds are willing to give up "dining out, entertainment, and vacations to ensure job stability."It's worth it, though, because the 3rd Annual Staples National Small Business Survey also reveals that 63% of small biz owners think their employees are "exceeding expectations," "willing to do whatever it takes," and "going above and beyond." (Kinda reminds me of Lake Wobegon, where all the children are above average.) That kind of resolve breeds confidence: 84% predict that they will remain in business next year and three-quarters still believe in the American Dream.

To make sure they get there, 69% are "constantly trying new things to stimulate my business," 45% are relying less on traditional media and 48% are turning to viral marketing and word of mouth. More than half (55%) are looking for sales. Of course, 24% are "just waiting and hoping that something will change and make things better." Good luck with that...

And how are business owners coping personally? Only 22% leave the office for lunch, while 22% enjoy "deskfast." Some 44% are seeking distractions (40% in front of the boob tube, 40% in a good book). Another 40% is "tuning out the news." But a third can't stop thinking about work while doing these things.

So, would you cut your own pay to save jobs at your company? And if you were willing, would it really make a difference?

NOTE: Conducted by Profile Marketing Research, the 3rd Annual Staples National Small Business Survey queried 307 owners and execs of companies with 20 or fewer employees in December 2008.

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