From the monthly archives: March 2010
Are you intrigued by the possibility of being your own boss and starting a business but not sure you have the right qualifications to be an entrepreneur? What are the characteristics of an entrepreneur? Although there is no single perfect entrepreneurial profile, there are many characteristics that show up repeatedly in successful business owners.
Following are the top 10 essential entrepreneurial traits that anyone who is interested in starting a business must possess:
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(1) Independence - This is the most common denominator of all entrepreneurs. They want to seize control of their future; thus they decide to become their own boss instead of laboring under the gaze of a master.
(2) Persistence and Determination - The world of entrepreneurship is fraught with both success and failure. An important quality of a successful entrepreneur is the doggedness to continue pursuing a goal despite some setbacks and obstacles they may encounter on the road. This persistence and determination is fueled by a burning desire to achieve the goal of succeeding in the chosen field of business.
(3) Self-Confidence - Along with independence, an entrepreneur possesses self-confidence. They believe in their capabilities and makes sure that they will put in their best effort into their particular endeavors and likewise expect the best results from it. Belief in one’s capabilities is very important in achieving any goal – especially in the world of entrepreneurship.
(4) Creativity - In the business world, you can not afford to be complacent and uncreative unless you want the competition to move up on ahead of you. Creative people are naturally curious, inquisitive, bright and highly flexible when thinking. They keenly observe their environment and have an eye for spotting new trends that could spark a business opportunity.
(5) Organized and goal-oriented - An entrepreneur knows the value of organization in a business endeavor. A good entrepreneur has the ability to consolidate resources.
(6) Visionary - An entrepreneur has a vision for his/her future.
(7) Risk-taking and Tolerance for Failure - A good entrepreneur realizes that loss and failure are inherent in any business endeavor. Thus, an entrepreneur must always be ready to make calculated risks and face whatever consequences accompany those risks. As in all fields of endeavor, the characteristic of a successful entrepreneur is in never giving up and in picking up the pieces and continuing the journey even if failure momentarily obstructs the way.
(8) Perseverance and Hard Work - These are perhaps two of the most important entrepreneurial traits.
(9) Commitment - An entrepreneur will not achieve success if he/she gives up at the first sign of trouble.
(10) Honesty and Honor - Another very important mark of a good entrepreneur is being honest and honorable in all business dealings and interpersonal relationships – whether it is between business partners, employees, peers or investors.
If you possess these traits, you may have the necessary skill set to become a successful entrepreneur.
Author: Hilary Basile
Article Source: EzineArticles.com
Provided by: US Dollar credit card
Small business grants are closer than you think. They can also be the ideal way to fulfill your dreams of becoming a business owner. It is often a hot topic among entrepreneurs with limited funds and access to capital. They are given to those people who want to start their own small business as a means of supporting themselves while at the same time contributing to the US economy. Business grants are also provided by the US government. Remember, Small Business Grants are not loans and that’s why many people refer to them as Free Grant Money!
Business Grant or Business Loan…?
Grant programs don’t require credit checks, collateral, security deposits or co-signers. In some cases recipients are required to submit periodic progress reports to demonstrate that the grant funds are being utilized properly and goals are being achieved as projected in the application. Grants differ from loans in that they are not repayable. We all know what it takes to get a common loan…like auto loans, home loans, cash loans, etc. Why not try a free grant program that writes the grant for you and also addresses every issue you’ll need to cover before submitting it to the proper agency.
Business Grants Do What?
Business grants are one way that women can run successful businesses whether they have a home-based business or a business outside of the home. They are available to start a new or expand an existing business, equipment financing, acquisition of a new or existing business, rent, salaries, office expenses and overhead. Given to women who are small business owners to encourage and promote economic growth as well. Grants are available to anyone over 18 years of age. In fact, the small business grant you need to start or expand your business may be available right in your own home state.
The Purpose of Grants
A grant supports the business idea and turns the dreams of an entrepreneur in to reality. There are many types of grants offered by the government that include individual grants for personal necessities, business grants for starting new business, housing grants, ,education grants for funding education and many more.
Business Grants & Women
Grants are also available for women who want to buy an existing business. They are also available for women who want to attend business school so that they gain the knowledge they need to start their own business. They are also awarded to women who excel in their respective fields. The best part about business grants is that they are free in the sense that you do not have to pay back the money to the funding agency or the government. Women can also get money to encourage advanced online education have a distinct advantage over any business that leaves advanced learning to chance. Businesses that fall into this arena often find they are eligible for small business grants.
There are Other Options…
Also remember that the federal government, through the SBA, does offer a fine array of very attractive loans to start or expand a small business. There are also low interest and no Interest Government loans available for you to take full advantage of. Most small business owners have to look to personal resources and loans to finance their small business. You may have looked into bank loans, asked friends and family for a loan or looked into getting a few credit cards to pay for you to set your business up.
Women have the largest opportunity of any group to benefit from the generosity of the Government Grant Programs. Women are taking more initiative to work for themselves. Womens small business grants are available in many forms. Women continue to account for the majority of stay at home parents. Women interested in accessing small business grants to start or expand their own businesses should understand certain limitations inherent in small business grant funding. Women have a 75% greater chance of success in business ownership.
Grants for Education
Education is a priority for any government, and for this reason the government. Education grants are available from various sources and are generally funded by the government, although many are established and sponsored by private institutions. They can vary in the amount of the grant as well as the period the grant is made available to the student. Women are also much easier to qualify for and get than education grants. Scholarships are also available for a myriad of situations.
A Little Info about the SBA
SBA does not provide lower interest rates for small businesses. SBA is not related to granting any free government grants, but instead it provides counseling, technical trainings and assistance in areas which are required to run a small business management using its resourceful SBDC or Small Business Development Center at absolutely NO extra Cost to you, its totally FREE. SBA has offices in every state and worked with various non-profit, lending and educational and training organizations nationwide. SBA also runs programs that are intended to help women with training and technical assistance, access to credit and capital, government contracts and such. As far as individuals are concerned, SBA does not offer business grants to any entrepreneur but it does help the minority groups, the women entrepreneurs, economic development of underdeveloped regions, and numerous such activities.
Author: J Pickett
Article Source: EzineArticles.com
Provided by: Humorous photo captions
Outsourcing your non-core operations to a service provider has ceased to become a prerogative. Almost everyone is doing it even the top Fortune 500 companies. Definitely, outsourcing has become another option for business viability and survival.
Apart from lowered cost and enhanced quality of work, outsourcing enables companies to tap the expertise of the outsourced service provider into its own operation, thus the outsourcing company stands to benefit more than just getting its non-core jobs done by an outsource provider. Yet, as beneficial as it seems, there are attending risks. Just like an ordinary business transaction, outsourcing, too has loopholes.
Here are ten (10) outsourcing risks identified and the steps to ward them off:
RISK #1: Outsource provider’s track record.
Taking a closer look at the outsource provider’s number of years in the outsourcing industry, size of his company as to number of his employees when he started out compared to his present organizational structure, taking into account the ratio of employees’ turn-over, his financial background, etc… – all these are determinant factors of an outsource provider’s track record.
RISK #2: Competencies.
Is the outsource provider competent to deliver quality services? Is the outsource service provider ISO9000 compliant, or are there verifiable certifications from competent independent agencies like CMM, issued in its favor? What are the procedures the outsource service provider undertake to ensure that it delivers quality service?
Clients’ references are the best source of information concerning competencies of the outsource service provider. Their satisfaction guarantees yours, too.
RISK #3: Hidden costs.
The apparent reason why you outsource is cost. Undeniably, outsourcing cuts down cost, but be wary about hidden costs that can spring like panthers aiming for your throat!
Areas to watch include connectivity expense, infrastructure maintenance and development, transition cost, licensing and consultancy.
RISK #4: Meeting deadlines.
Are commitments attainable? Is your outsource service provider apt to the challenge of delivering to you the service you need within prescribed, and agreed upon, time frame?
RISK #5: Data safety.
Now, caution should be emphasized here. You will be sharing information about your business with your outsource service provider. Is non-disclosure agreement an issue? Get an affirmative response from your outsource provider that any information, data or work processes that concern your business should not be disclosed to a third party. A privacy statement should be included, and form part of your contract with him.
Your team at the outsource service provider’s company should undergo pre-hiring orientation which will inculcate their adherence to non-disclosure of vital information and privacy agreements.
Security settings such as firewalls, anti-spam ware, access controls and data encryption should be discussed and agreed upon as well.
RISK #6: Contingency Plans.
Find out about contingency plans. Does your outsource service provider have one in place?
Your outsource service provider should have considered measures to undertake before any contingency strikes. Equally important are its recovery plans. How well does your outsource service provider expect to continue with its business should a disaster occur?
Businesses are beset with risks. When you outsource, you become involved with whatever risk your outsource service provider face up to. It is best to know that you will be dealing with a service provider that has foresight. This is a sign of maturity and responsibility.
RISK #7: Transparency.
Always invoke transparency between you and your outsource service provider in all phases of your business undertaking. This will immobilize intrigue, dissension, and will affirm trust.
Is invoicing done on time? Are contracts feasible?
Eradicate minor flaws as they take root, by being transparent and trustworthy. This will be the ground upon which your business will flourish.
RISK #8: Adherence to labor laws, state laws and regulations.
Your outsource service provider should operate within the legal tenets of its own country. Its non-conformance of state laws, regulations, ordinances, etc… will affect you, if not legally, then on moral decency.
You as the outsource service provider’s client should ensure your moral ascendancy in environmental concerns, and employees’ welfare.
RISK #9: Employees’ Issues.
Cross-training of employees is necessary to avoid disputes and needless work stoppage. As most outsourcing is done to foreign countries, employees should receive orientation as to what they can expect from a foreign client, as well as the client understanding situational factors, such as time-zone difference, length of work hours, etc… from the point of view of employees.
RISK #10: Cultural Match.
Akin to risk No. 9 is finding a “match” or a “fit” between the outsource service provider and the client. Cultural factors can influence, positively or negatively, the outcome of the working relationship. For a suave interaction, the “fit” should be found.
A mismatch can cause problems ranging from pre-termination of the contract, faster turn-over of employees and a host of other concerns. Any of these reasons means loss for both parties.
Most common reasons why outsourcing goes sour are outsourcing services getting expensive or poor performance by the service provider.
The key is to choose wisely and carefully. Avoiding guesswork will eliminate unnecessary expense, wasted time and efforts. Selecting a service provider who possesses integrity, honesty and competence remains a sure-fire formula.
Author: Steve Arun
Article Source: EzineArticles.com
Provided by: Credit card currency-exchange fees
Many people think that the access to Canadian Government funded R&D incentives is limited to manufacturers and research labs. It is exciting to discover that small businesses in the food industry (like bakeries and restaurants) are also prime candidates who can and should take an advantage of this amazing funding program!
The SR&ED program aims to reimburse companies for their experimental development expenses. The goal is to make creativity and innovation affordable in the Canadian business environment and foster future development.
The program is highly relevant to small businesses, where a refund of $20K-$70K could mean a world of difference. The actual refund amount depends on proper identification and qualification of eligible expenditures.
What can possibly qualify a bakery or a restaurant for governmental R&D incentives?
- Recipe changes that improve taste or quality
- Improvement of nutritional properties (low-fat, low calories)
- Elimination of allergens, preservatives, artificial dyes
- Increase of a product shelf life
- Equipment or appliance modifications
- And more…
In order to stay competitive, food producers must respond to changing tastes and demands. Experimenting with new ingredients, modifying products to suit recent diet fashion – all these activities often qualify as shop-floor experimental development.
Working on new ideas takes time, wastes materials and requires equipment modification. The SR&ED program allows retrieving these expenses:
- 68% of qualified payroll costs
- 41% of sub-contractor expenses
- 22.6% of capital expenditures
The refund has no strings attached – the owners are free to spend it anyway they like – buy new equipment, avoid eliminating a job, or give everyone a big bonus – the decision is yours!
Using the extensive experience of trained engineers (like our team), business owners have the opportunity to review their potential for qualification, and complete the application process in a few hours, and with no up-front costs.
Discovering that your business is eligible for SR&ED funding makes a world of difference – on the bottom line, as well as future planning!
Author: Mark Sorkin
Article Source: EzineArticles.com
Provided by: Canada duty
“I want to write a business plan,” the young woman on the other end of the phone line said. “Do you help people to do that?” She fairly bubbled over with excitement about a retail gift shop she wanted to open. Her vision of her business was clear and detailed. Her eagerness to get started was so engaging that I was delighted she had asked me to work with her. With my guidance the plan flowed easily. She also was able to get funding for her shop.
Between Thanksgiving and New Year’s I always write my own business plan for the following year. Somehow this period has become synonymous with planning for me. What about you? What is the time of year you write your plan? If you are not in business do you have a career or job search plan?
The client I just mentioned not only wrote the plan but she also had a strong commitment to implement the plan just as she had written it. Her mailings and advertising were all detailed in the plan so she was ready to work in her shop from day one with a steady flow of customers coming in. She was able to forecast how many of those customers would ultimately make a purchase too and it proved to be pretty accurate.
As I write these words I know many will feel pangs of guilt either because they don’t write a plan yearly or because once they write the plan they never look at it. If you can hear your inner voice saying “I really should write that plan,” stop yourself. Thinking you should write a plan is taking on someone else’s suggestion as your own.
My client had said “I want to write a business plan.” That is very different. The idea was hers and she was excited about it. She was writing the plan for herself and no one else. Sure she needed funding from a bank but she also wanted to prove to herself that what she wanted to do would work. The plan did that.
When people are asked to make a change in the way they do things, often they are resistant. Unless they see an immediate benefit, they’ll drag their heels. Sometimes they will go so far as to try to prove the idea is a bad one! I’ve seen that happen in corporations trying to get employees to do something a different way.
So how can you make the “should” into a “want”? One way is to get really excited about the business, job, or work experience that you are trying to create. If you are happy where you are, think about what would make it even better for you and/or your customers/clients.
Spending some quiet time thinking about what you want in your life and in your business or job can help you to get clear about your vision. Focusing on that vision and clarifying it will help you to imagine an even better business or job situation. This is not the time to figure out how you will do it. (You can do that when you write your business plan.) This is a time to dream, feel, and envision what you want. Go for Technicolor and 3D!! How does that feel!?
Once you have the exciting picture of what you are trying to create, it will be easier to sit down to write the plan. You don’t have to write a plan that immediately gets you to the vision. It might require several steps. The plan is the vehicle that allows you to think through a logical path.
The real secret to implementation is to focus, focus, focus! Keep recalling your vision and re-reading your plan so that you are clear on your path and you are really engaged in the process. If after a few months the plan isn’t working well, it is time to consider making some changes and tweaking the plan. Quarterly reviews and updating will keep you focused on reaching your goal for the year. The reward of a good plan well executed is a business that is both satisfying and successful.
Take Action:
1. Set aside some time to envision your business or new job. How is it different from the business or job you have today?
2. Once your vision is clear think about the steps you will need to take to get your current state to that which you have envisioned.
3. Write your plan.
Here are some resources for writing your plan:
1. The Small Business Administration (USA) site and has a good explanation of a business plan. (sba.gov)
2. The SCORE website (free business counseling) has templates. (score.org)
3. The Wall Street Journal has a great career site and a business site.
4. The One Page Business Plan is what I’ve been using this for the last 3 years. It is available on Amazon. The plan is easy to review because it is all on one page.
Author: Alvah Parker
Article Source: EzineArticles.com
Provided by: Excise Tax
1- Heart
Do you have heart? Do you have that drive to go all the way?
Do you have the mentality that I will go on no matter what?
Will you make entrepreneurship your second wife or husband?
Do you care to make a difference in the world?
Being an entrepreneur is still not the norm as society sees it,
they still consider entrepreneurs to be as strange as aliens and
ufos. I Have heard all the comments say that entrepreneurs are just
lazy and don’t want to hold a job, this is the most underrated statement
known to civilization!
Entrepreneurs have to have heart to take on a new adventure and
build it from scratch, there is no guarantee of a paycheck or
salvation as an entrepreneur. You have to have heart to go on while
others laugh and poke a joke at you saying that you will never make it
and will never have a successful business.
You have to have heart and will power to stay up every night making
sure that your business is growing like your precious child, yes starting
a new business is like having a new child, you have to care for it, feed it,
and make sure it grows!
If you want to start your own business and be an entrepreneur then
please have a huge heart and amazing willpower to tackle both the good side
and bad side of this lifestyle.
2-Vision
Do you know what your goals are? Do you have a plan on
how to start your business and how to project your outcome for
the 1st 5 years? If you don’t have a clear cut vision then you need
to think again about being an entrepreneur, success as an entrepreneur
does not magically appear, you have to know what you are after and your vision
has to be very clear. Once you have that vision then you can take the next steps and
ensure that you vision for your business will be a success.
One of the biggest problems that most have is that they try to become and entrepreneur
and they don’t know what their goals are and what type of success they will have, they lack
vision and most fail fast!
3-Product
The main reason why you are becoming an entrepreneur is to
offer your product or service to the world, make sure that what you are offering is
wanted by paying customers, don’t “guess” your buyers, make sure you have a target
audience that are waiting for your product.
This is a huge mistake that is made by entrepreneurs and business folks, they don’t realize
that not everyone is interested in their product, they put their heart and soul into
promotion when they are selling to the wrong people. Having the right product
is important to business success. If you are an entrepreneur who is a master listbuilder
and want to offer your Ecoaching to people make sure you write an article that
is about listbuilding and not bodybuilding!
Targeting is my concern and most entrepreneurs tend to not target their audience
and their products won’t get much sales.
The key to success is to have a product that is bought very cheap or
at wholesale prices and then add a little markup and then you can
profit from it.
Just take a look at ebay and you will see that 90% of the top sellers are
dealing with wholesale goods only and you being the consumer are willing
to pay their prices because they are a lot cheaper than retail prices.
Make sure that you are going into business with the right product and
service, don’t make that mistake and just assume that your product
will be a success, do some research and figure out if your product
has a demand for it!
4-Team
Don’t do everything all by yourself, build a team and your business
will grow and have more of a chance of being a success than you
doing it all alone. I was one of those entrepreneurs that felt
that I didn’t need help or that i was smarter than most, this
was my big mistake and my business suffered for many years!
If you are a visionary then try to network with sales and marketing
professional, if you don’t understand graphic design then outsource and
you will see excellent results. No one can do everything and knows
everything, team work is key to success and please avoid the mistakes
i made by thinking that I knew it all and didn’t need anyone’s help.
You can accomplish so much more if certain tasks and jobs are
delegated to certain people in your team, you should have an email
or instant message sent to your team every morning and explain
what the agenda is for the week, month and then have a session
on Fridays and see what the team accomplished.
Take my advice on this and you will avoid lots of pain and
heartache, team work is a must and put it to use for your business
today!
5-Start Small
I can’t stress this enough, please do yourself a favor and
start small, start your new business on the side while
working and earning a stable income. Don’t just assume that
your side business will make you rich, that is a very dangerous
assumption and it can ruin your life and the relationship with your
family and friends.
Start your business on the side, see if it is making you money and
observe the monthly trend to see if it is growing or not. If your side
business has been making you more income than your full time job then
consider making the transition, this is such a powerful checklist and make sure
that you start small, don’t quit your job tomorrow just because you had a vision
for a new business.
I am an individual that has been an entrepreneur since the age of 17 and
my experience tells me to tell you to start small, don’t rush things and don’t
assume anything until you see results!
Author: Bea V
Article Source: EzineArticles.com
Provided by: Import duty tariff
Small business grants are closer than you think. They can also be the ideal way to fulfill your dreams of becoming a business owner. It is often a hot topic among entrepreneurs with limited funds and access to capital. They are given to those people who want to start their own small business as a means of supporting themselves while at the same time contributing to the US economy. Business grants are also provided by the US government. Remember, Small Business Grants are not loans and that’s why many people refer to them as Free Grant Money!
Business Grant or Business Loan…?
Grant programs don’t require credit checks, collateral, security deposits or co-signers. In some cases recipients are required to submit periodic progress reports to demonstrate that the grant funds are being utilized properly and goals are being achieved as projected in the application. Grants differ from loans in that they are not repayable. We all know what it takes to get a common loan…like auto loans, home loans, cash loans, etc. Why not try a free grant program that writes the grant for you and also addresses every issue you’ll need to cover before submitting it to the proper agency.
Business Grants Do What?
Business grants are one way that women can run successful businesses whether they have a home-based business or a business outside of the home. They are available to start a new or expand an existing business, equipment financing, acquisition of a new or existing business, rent, salaries, office expenses and overhead. Given to women who are small business owners to encourage and promote economic growth as well. Grants are available to anyone over 18 years of age. In fact, the small business grant you need to start or expand your business may be available right in your own home state.
The Purpose of Grants
A grant supports the business idea and turns the dreams of an entrepreneur in to reality. There are many types of grants offered by the government that include individual grants for personal necessities, business grants for starting new business, housing grants, ,education grants for funding education and many more.
Business Grants & Women
Grants are also available for women who want to buy an existing business. They are also available for women who want to attend business school so that they gain the knowledge they need to start their own business. They are also awarded to women who excel in their respective fields. The best part about business grants is that they are free in the sense that you do not have to pay back the money to the funding agency or the government. Women can also get money to encourage advanced online education have a distinct advantage over any business that leaves advanced learning to chance. Businesses that fall into this arena often find they are eligible for small business grants.
There are Other Options…
Also remember that the federal government, through the SBA, does offer a fine array of very attractive loans to start or expand a small business. There are also low interest and no Interest Government loans available for you to take full advantage of. Most small business owners have to look to personal resources and loans to finance their small business. You may have looked into bank loans, asked friends and family for a loan or looked into getting a few credit cards to pay for you to set your business up.
Women have the largest opportunity of any group to benefit from the generosity of the Government Grant Programs. Women are taking more initiative to work for themselves. Womens small business grants are available in many forms. Women continue to account for the majority of stay at home parents. Women interested in accessing small business grants to start or expand their own businesses should understand certain limitations inherent in small business grant funding. Women have a 75% greater chance of success in business ownership.
Grants for Education
Education is a priority for any government, and for this reason the government. Education grants are available from various sources and are generally funded by the government, although many are established and sponsored by private institutions. They can vary in the amount of the grant as well as the period the grant is made available to the student. Women are also much easier to qualify for and get than education grants. Scholarships are also available for a myriad of situations.
A Little Info about the SBA
SBA does not provide lower interest rates for small businesses. SBA is not related to granting any free government grants, but instead it provides counseling, technical trainings and assistance in areas which are required to run a small business management using its resourceful SBDC or Small Business Development Center at absolutely NO extra Cost to you, its totally FREE. SBA has offices in every state and worked with various non-profit, lending and educational and training organizations nationwide. SBA also runs programs that are intended to help women with training and technical assistance, access to credit and capital, government contracts and such. As far as individuals are concerned, SBA does not offer business grants to any entrepreneur but it does help the minority groups, the women entrepreneurs, economic development of underdeveloped regions, and numerous such activities.
Author: J Pickett
Article Source: EzineArticles.com
Provided by: Creditcard Currency Conversion Fee
More and more companies are viewing temporary employees as an efficient and cost-effective way to recruit and test the abilities of workers before bringing them on board full time. Temp-to-hire placement is a strategic recruiting tool which saves time by allowing a staffing partner to test and pre-screen candidates for you, will save the company money during the trial period because all the employee taxes and some benefits will be paid by the staffing company, and allows the company to evaluate the candidate in the field before making that full-time commitment.
During a traditional interview process, the recruiter evaluates the candidate’s responses to determine their potential:
- Will they be able to follow directions accurately?
- What kind of attitude will they display in the workplace?
- Will they fit into the culture of the company?
- Can they multi-task?
- How will they interact with their team members?
- Can they work under pressure?
- Will the quality of their work be able to stand intense scrutiny?
In a temp-to-hire situation, these questions will be answered during the interview process. The employer will then have the dual opportunity to view the employee’s day-to-day work habits and style.
Grisela Rodriguez, Director of Human Resources and Administration for the American Academy of Diabetes Educators, has been utilizing the temp-to-hire choice for years. She says, “It’s really an opportunity to put the candidates to the test and find out if they really know what they say they know. In addition, even though the employee may have all the mechanical skills, the fit is just as critical. You need to get a good feel for their day-to-day work habits, skill level and productivity, by watching their behavioral style as they communicate internally, making sure they follow-up on assigned tasks, and most important, by being sure they can stay consistent on all these measures will prove the employee is a good fit.”
Another reason for temp-to-hire is that many department heads are not interested in recruiting and believe they don’t have the necessary interviewing skills. They may not know how to read between the lines and listen to what the person is saying or they may not be able to probe for essential information to help make a good hiring decision.
The following describes a few reasons of why hiring temp-to-hire has become much more common in these challenging economic times.
- The company saves money on the cost of advertising online or in the local newspaper.
- The company also saves money on payroll administration and fringe benefits until you make the decision to bring the temporary employee on full time.
- Human Resources doesn’t spend an inordinate amount of time searching for the candidate through online job sites, reading through the resumes and going through the initial series of interviews.
- The company may have some budgetary restrictions, you may not have 110% confidence in the candidate of choice, there may be a shortage of potential candidates, or perhaps you are uncertain about the length of the project.
- Due to recent layoffs and downsizing across the country, employers can now find a pool of talented and skilled workers looking for employment.
- And employers are not liable for unemployment insurance expenses if the employee doesn’t work out. Unemployment insurance is paid by the staffing firm.
Why would a potential employee consider working in a temp-to-hire position?
Temp-to-hire employees are finding work as administrative assistants, customer service representatives, marketing managers and also as accountants, project managers, and even doctors and attorneys. They are more mature and well-educated and are working as temporary and contract employees because it offers them the opportunity to understand the company’s culture and working environment before actually making any commitment.
“If it turns out I’m not going to be a good fit for them, then it’s probably not a good fit for me.”
So says Nick Jasinski, a new customer service representative at Schwartz Brothers Insurance. A recent graduate from the University of Illinois at Chicago, Nick wasn’t quite sure what he wanted to do after he graduated. He started submitting his resume online at CareerBuilder.com in addition to Monster.com and was getting only a few interviews. Some prospective employers expressed their concern about his lack of day-to-day business experience.
Reading through Crain’s Chicago Business, he saw list of 20 staffing firms in the area, and sent his resume to all of them. In a short time, Nick was going on two to three interviews a day and was hired by Schwartz Brothers in a temp-to-hire position. “At first, I was nervous, but it didn’t take long for me to fit in. In fact, it is so busy here there is never a dull moment! And I’m continuing to learn new skills.”
There are, admittedly, a few downfalls in temp-to-hire placements.
The temp-to-hire employee knows the position may not work out for any number of reasons and could eventually lose the job. They may continue to look for employment and, as a result, receive a better offer which means the employer will have to start the process all over. The loyalty and total commitment the employer desires may not be 100% during the normal three-month testing period.
Temp-to-hire positions generally rule out the population of people who are currently employed. It is unlikely that a potential candidate searching for a new opportunity will want to leave a full-time position for a temp-to-hire placement.
But when employees working in temporary positions find they are being considered for a full time position, it becomes a win-win situation. It’s good for the employer because they have an opportunity to experience the employee’s work and attitude first hand and determine whether the employee will be a good fit. And it’s good for the employee because over time they will have a much better understanding of the company, the business environment and whether they can see themselves having a passion for the company enabling them to make a significant contribution. Even though a company may not been looking to fill a direct hire position, if the temporary employee working on a project exhibits excellent skills, work habits and an interest in the company, there’s a good chance they will be offered a permanent position.
Temp-to-hire placements …
- create assets for your company,
- improve productivity and morale, and
- ultimately protect you from poor hiring decisions.
Author: Mimi Jeter
Article Source: EzineArticles.com
Provided by: Benefits of electric pressure cooker
On the average list of fundraising ideas you will find many suggestions. However, you need to look at several factors before you determine how effective these fundraising ideas will be for your purpose.
1. Is the product easy to sell?
Is it something your customers really need? If the product is a necessity item, sales are more likely to be much higher and more frequent. You will have regular, repeat sales all year round.
2. Is the product unique?
Is the market already well catered for with the type of fundraising product you are considering to sell? If the product is new, consumer interest will be much greater.
3. Can the product be labelled specifically for you?
This gives you more opportunity to promote and advertise your organization.
4. Is it a product your organization’s members would be interested in buying?
If the product you are selling is an item your own members would not buy, you should reconsider keeping this on your list of fundraising ideas.
5. Is the product profitable?
Some fundraising products offer profit margins of only 25-50% and the unsold portion goes to waste, reducing your returns. But if you make your own products, the profit margins can be as high as 500-1000 %.
On the top of your list of fundraising ideas you should consider making your own range of cleaning products, toiletries and cosmetics. These products fulfill all the above criteria for making a successful, long term and highly profitable fundraiser.
These are everyday necessity items, used by you, your family, your friends, your members, businesses and the general public. Unlike most products on the average list of fundraising ideas, the market is not saturated.
These fundraising products can be labelled with the logo of your organization or any other design to benefit you.
Cleaning products, toiletries and cosmetics have a long shelf life, minimizing wastage and thereby maximizing profits. They are exceptionally easy to make from home or workshop – no special equipment or qualifications needed.
Because you are the manufacturer, you can make only what you need, and all the profit is yours.
Cleaning and cosmetic products make a great stand alone business for individuals or couples, as well as being a prefect addition to the list of fundraising ideas for organizations.
Author: Sam Stein
Article Source: EzineArticles.com
Provided by: Programmable Multi-cooker
You are the CEO of a well-managed credit union and you have
just left a board meeting where you submitted your
resignation. You start another job in 30 days and plan on
relaxing and renewing with your family on the slopes around
Tahoe, catching up on the latest novels, sleeping in and
just hanging out. The board is surprised at the announcement
of your sudden departure and prefers that you stay on and
lead the credit union. However, they are comfortable that
the transition will be smooth because a strategic
initiative, for the past four years, has been to continually
and systematically build an internal talent pool.
Five years ago you and your board agreed to assess the
organizational talent to ensure that it meets with the
aggressive future strategic direction of the organization.
In a nutshell, you started Succession Planning. Your credit
union was in a marketplace that called for innovative
products and services delivered through multiple delivery
channels. If you did not grab the market, it was ripe for
other financial institutions, both traditional and
nontraditional. Some bold moves needed to be taken with your
leadership team. A couple managers moved on to other
organizations; you restructured roles and responsibilities;
and created a mindset aware of the need for excellent
talent. You moved beyond ‘Quality’ to ‘Excellence.’
This article addresses actions of a CEO who is passionate
about people development to ensure that through planned, or
unforeseen changes in personnel in critical positions, the
members of the credit union are served. This is called
Succession Planning. It should happen throughout the entire
organization and at all levels. The starting place is at
the CEO level. Developing competencies for the CEO position
is the first step in a structured and systematic Succession
Planning process.
Succession Planning ensures that the right people are in the
right places at the right times.
There are three aims of Succession Planning:
- Match the available current talent with the needed
future talent: An organization gains a competitive
advantage in the marketplace through the development and use
of a small number of core competencies that are effective
across a number of product lines and services. What core
competencies are required today? What core competencies are
required to live your strategic plan of the future? Where
are the gaps? A core competency is deliberately created by
the executives of your organization. They decide what is
needed and systematically allocate resources to develop and
sustain core competencies. - Help the organization successfully meet the strategic
and operational challenges:
Organizational capabilities and the skills of people are
combined to form a flexible, agile company that is focused
on member needs and is adept in responding to them. What
technical skills and knowledge are required to meet future
operational challenges integral to the strategic plan? - Mitigate risks: Everyday, with the right people, with
the right skills and knowledge,
in the right places is another day of mitigating risks on
behalf of your members. This requires a fluid, dynamic and
flexible talent pool with a culture that is inspired through
people development.
Generations of Succession Planning
If you start today, planning for Successors in the right way
with the right people, in two years you will have created a
talent mindset that will be integral to your culture. Start
with your position, the CEO job, and systematically web
Succession Planning throughout the credit union.
First
Start with a Replacement Plan that can be invoked in the
case of your unplanned departure from the credit union.
Provide a step by step checklist for your Chair to aid her
in effective a smooth transition as best possible. (See more
on this is a related article).
Second
Develop a structured Succession Plan for direct reports to
your position. Understand who are the potential successors,
their strengths and weaknesses, how to support their
continual growth and their interest level in being selected
as the next CEO. More discussion on how to make this happen
will follow.
Third
Create a Replacement Plan for direct reports to you. If one
or more of your executive team unexpectedly departs or has a
sudden demise, know where and who to go for to continue to
fulfill daily responsibilities. This may mean requesting
that two or more individuals temporarily accept additional
responsibilities. Document your plan and provide a copy to
Human Resources Executive. Be aware of ‘job block.’ If a
manager is too important in her position, and cannot be
promoted, her direct reports are job blocked. Develop and
train people assuming that everyone will be able to leave
their current job within the next two years. This creates
an attractive pool of talent that is fluid, flexible and
dynamic.
Fourth
Start a Succession Plan for your middle level managers.
Include people development as part of every performance
review for every manager and supervisor.
Fifth
Create Succession Plans for all organizational key or
critical positions. Assess your organization and target
every critical position. A critical position is one that
materially impacts the purpose of your credit union.
Sixth
Update your Succession Plans as part of your strategic
planning process. Do you have the right people in the right
places to live your strategic plan?
Create a Culture that is Attractive to Talent
Your ability to attract, develop and retain talent will be a
major competitive advantage far
into the future. Talent is attracted to talent. All
managers, starting with the CEO, are responsible for
strengthening their talent pool. Shape your organization,
your jobs, even your strategy to appeal to talented people.
Treat recruiting like marketing, not like purchasing. Fuel
development primarily through stretch jobs, coaching and
mentoring and affirm all of your people, but invest
differentially in your A, B and C players.
Open or Closed Process: Treat with Candor or
Secrecy
Should your Succession Plan be opened or closed and what are
the issues related to each scenario. With an open process,
the plan is treated with candor and the work requirements,
competencies and conditions of success are openly
communicated. A closed process is held close to the vest
and there is no input from those impacted by the process.
Potential Successors participate in their own assessment and
development plan in an open environment. They are aware of
their weaknesses and receive appropriate coaching and
mentoring and routinely receive feedback and course
correction. Potential Successors receive stretch
assignments, increased responsibilities and special projects
to enhance their potential selection for the CEO job. In a
closed environment, there is a loyalty issue especially if
an outsider is the unexpected choice. The risk of turnover
is higher because employees perceive that they were
overlooked for development and, consequently, look elsewhere
for where they can add value to another employer.
Coaching the CEO of Today and Tomorrow
A professional needs a coach. An amateur does not.
Consider the possibility of a coach who has been trained to
‘lead from behind’ the leaders of today and tomorrow.
Potential Successors will know themselves better and how to
strategically use their strengths and weaknesses if they
work with a trained coach. It is impossible to lead others
if you cannot lead yourself. Coaches are trained to work
with clients who want to move forward in a different way but
are not sure how or what to do. This is all part of
Succession Planning – growing ourselves so we can be what we
want to be in the future.
Building Blocks
Essential building blocks to creating a robust succession
plan include;
Developing competencies:
- itting substantial time and resources to developing
competencies in support of the purpose of your credit union. - Linking and aligning the organization’s core values to
job competencies. A core competency is a unique bundle of
technical expertise and know-how that is central to the core
purpose of your organization; it spans multiple divisions
and business units. - Creating significant and definable opportunity to
outperform competitors in core products and services.
Defining high potentials:
- Differentiating your high and potential high
performers. - Investing in the high performers so they meet the
competency requirements of the future.
Compensating for Excellence:
- Deciding that excellence is your benchmark and creating
performance strategies accordingly. Competencies in position
descriptions are behaviorialized so they are observable and
verifiable. - Rewarding, through incentives those who constantly raise
the benchmark for performance.
Getting Started
Like with any strategic plan it is best to know what the
desired outcome is; understand your starting point and
create a plan to link the present with the future. Use
surveys, questionnaires, behavior profiles and other
assessment tools to understand what competencies are
intrinsic to your organization from the viewpoint of several
participants. Understand what talent, potential talent and
hidden talent can be tapped or uncovered. Consider using an
external facilitator to guide the assessment process. They
are trained to ask the right questions and to assess the
systems and processes.
Summary
Succession Planning is having the right people in the right
place at the right time. Start with the end goal. Assess
the current talent and structure roles and responsibilities
so that competency development is emphasized for your
strategic plan of the future. Decide if you want a closed or
open succession planning process and the merits of each. Use
a coach to lead you from behind and to help see
possibilities for creating a talent mindset. Decide if you
want quality or excellence for there is a difference.
Copyright DDJ Myers, Ltd. 2007
Author: Deedee Myers
Article Source: EzineArticles.com
Provided by: Electric Pressure Cooker
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