Monday, November 8, 2010
In light of Thanksgiving
A sweet aroma fills the halls as I walk from one room to another. It’s the smell of the sweet glaze that covers pecans in a pecan pie. Mom has been working hard for the past two days preparing for the greatest feast of the year, Thanksgiving! I’ve resisted the urge to eat all day, even though I am extremely hungry. Now the smell of warm pecan pie fills the whole house, and you can just tell that mealtime is coming soon. In an attempt to curve my appetite I go the outside fridge to get a bottle of water, but right when I open the door I realize the trap I’m going into. I try to detour, but it is too late. Right in front of me is the holy grail of all Thanksgiving, mothers 4 layer trifle! It seems to glow as I stare at it intently, knowing perfectly well that although the day will be filled with glorious food nothing will top this. I reluctantly shut the door, all-the-while not breaking eye contact with it. I walk slowly back into the house, empty handed, forgetting all reasons why I went outside in the first place. It wouldn’t be long before my mind would be temporarily distracted by the distinct smell of the other food in our upcoming meal. “Time to eat!” I hear my dad’s voice echo through the house. We all know he gets impatient when he’s hungry and the food is ready, so no one lags. We bow our heads, give our thanks, and then…the rest is a blur. The next thing I know the food that was in front of us is almost all gone, my plate looks used, and my stomach feels like I just ate my own weight in mashed potatoes. As I glory in out-eating everyone in my family, those dreaded words come out of my parents mouths, “Who wants desert?” Oh no! Did I do it again? I over ate and now I don’t have room for desert. My pecan pie that my mother makes just for me…and the trifle! How could I have been so foolish! That trifle is better than any of this food I just ate, but I filled myself up and now I don’t even want the best part!
What it was like...
Sweat drops glide smoothly down your face as you feel their familiar salty sting in your eye. “It’s been 3 days!” you moan in a dry raspy voice. Relief from this minor discomfort would be nice. But even if you could lift your arms to dry your face, or to plug your nose and stop the smell of death from entering your lungs it wouldn’t change anything, because lingering in the back of your mind is the one question that fear itself is even to afraid to ask: What is Auschwitz? The more you think about this the less sweat or the rotting dead bother you. As your stomach begins to toss you realize that it’s not the smell of death that causes you to want to vomit, but it is the fact that you feel your own death rapidly approaching that churns your insides like butter. As your vision gradually becomes enveloped in black you can faintly hear a child’s plea, “Daddy I’m so hungry! Will there be food where we’re going?” A smile creeps over your face. For the first time since the SS broke into your home you realize that it doesn’t matter. For the first time in years you have something to look forward to. Knowing you won’t live long enough to hear the fathers reply, you finally find comfort in death.
More than 2 millions souls were loaded onto Nazi cattle cars and transported to Auschwitz in this same manner. As far as records show, only 1% left there alive (University of Minnesota). The Nazi Holocaust was one of the most horrific acts of genocide committed in all of human history. Human beings were treated so poorly, and tortured so severely, that many begged for death and welcomed it like a long awaited friend. Since World War II there have been many other popular issues that have attracted much of the people’s time and interest; however, no such issue has ever been as grand or horrific as was the Jewish Holocaust.
Tuesday, May 25, 2010
First Day of Work
So today is my first day of work at DAC. So far my boss hasn't come in yet. So I've been here since 9 a.m. sitting around in this same position doing nothing. But I get paid to do it. I've been reading up on some stuff to help me along, but I've reached a wall. Either I don't have the attention span to read anymore, or I've run out of stuff to read. Not sure which one it is. All I know is tonight is bowling night!
Wednesday, May 19, 2010
School...psh give me a break, it was a vacation.
So here are just some highlight shots from my trip to DC and Gettysburg. I'll give the full story sometime. But for now I thought I'd show off my awesome photo skills to Ainsley and Quinn.
The Army of Northern Virginia
Sunday, May 9, 2010
Quote of the day
Quote of the day goes to Toby Janiec.
"Last time I saw Flogging Molly was at The Venue on Halloween night when they opened for The Bouncing Souls."
That would have been the sickest show ever.
The End
Saturday, May 8, 2010
Flogging Molly
Flogging Molly was so sick tonight! It was, always has been, and always will be, the best show ever. They are so amazing, and their fans are so nuts. Before the show even started this crazy drunk guy was jumping up and down. He was way hammered and way excited, it was awesome. I told myself that I would stay in the mix of things until they played my favorite song (Raise What's Left of the Flag). Well turns out that was the last song they sang...go figure. It was awesome though. I got Marcus to start a pit for one song and it was super awesome. He kicks trash in a pit. It was awesome. Basically, it was awesome.
Friday, May 7, 2010
I am Ironman
Tuesday, May 4, 2010
Finals week
Man on the moon!
In contemplating making a blog I figured no one would want to read it. Then I remembered Ainsley is a house mother. Enough said. So I'm sitting here in the library again contemplating, this time its about studying. Which is really hard to do when two cute girls who smell good come and sit next to you. Then after that Wendy comes and wants to talk dirt bikes with you. How can you not talk about that...honestly.
Well I'm 4 down and one to go. My econ final didn't go well at all, but I should at least pass the class. I'm excited for school to end. This is why:
1. I hate school
2. Test suck
3. My friends and I have notice a very disturbing change in Logan(City). She's no longer the chill free loving girl she used to be...instead she's turned into...dare I say, Provo! So naturally I just wanna get out of here.
4. Since I've been home I've not actually lived at home. I feel like living at home is the last thing I need to do before I feel like I'm completely home from my mission.
5. Monday morning I leave for Gettysburg with Nate, Kolby, and Walker. We are going for a DHA credit and we are going with the Army. I'm way excited for it.
6. School just sucks
So needless to say the next two days i have to study for my accounting final will be anything short of focused. But I've been able to pull my grade around in that class and its nothing short of a miracle. So here I go. One final left...
Well I'm 4 down and one to go. My econ final didn't go well at all, but I should at least pass the class. I'm excited for school to end. This is why:
1. I hate school
2. Test suck
3. My friends and I have notice a very disturbing change in Logan(City). She's no longer the chill free loving girl she used to be...instead she's turned into...dare I say, Provo! So naturally I just wanna get out of here.
4. Since I've been home I've not actually lived at home. I feel like living at home is the last thing I need to do before I feel like I'm completely home from my mission.
5. Monday morning I leave for Gettysburg with Nate, Kolby, and Walker. We are going for a DHA credit and we are going with the Army. I'm way excited for it.
6. School just sucks
So needless to say the next two days i have to study for my accounting final will be anything short of focused. But I've been able to pull my grade around in that class and its nothing short of a miracle. So here I go. One final left...
Saturday, April 17, 2010
A Deeper Look at Divisions
In business ownership there are many costs that are incurred. Whether these cost come from advertising, manufacturing, salaries, repairs, or warranties they are always there. But between all these costs there are two common themes between them. All costs are either a division cost, or general cost. Divisions are small separations of your company within itself. The company itself is not literally divided, however for accounting cost it is considered in this fashion. There are some costs that a division might incur or in other words a cost that, if that division were to disappear, the cost would disappear also. The other costs are general cost, or the cost cannot be attributed to one part of the company. These costs are dealt with in a unique way because they are allocated throughout the company. Each division’s statement of earnings will have part of the companies general costs built into its expense (generally fixed expenses).
So let’s say, as a business owner, you are presented with the earning statements of the two divisions within your company. Division A is earning $600,000 a year, and Division B is losing $200,000 a year. You job, as the owner, is to make the very tough decision to either drop the losing division, or keep it and continue to lose money. Interestingly enough you find the $370,000 of the cost ($900,000) are sunk costs, or in other words they will not go away when the division does. They are general costs. Subsequently if you are to drop Division B, sales in Division A ($4,000,000) will drop by 10%. You are now tasked with making the decision on whether it is cost effective to drop Division B or not.
Upon further inspection you will see that with the decrease in overall contribution margin ($940,000) added to the fixed cost that you will lose ($530,000) will result in an overall loss of $410,000. This is considerably larger than the $200,000 the division was losing before. So as you can see Division B consumes a large portion of the general company cost. So by dropping it you will lose more money than you would normally lose. This leads to the first general rule of business and accounting, nothing is what it seems, always look deeper.
So let’s say, as a business owner, you are presented with the earning statements of the two divisions within your company. Division A is earning $600,000 a year, and Division B is losing $200,000 a year. You job, as the owner, is to make the very tough decision to either drop the losing division, or keep it and continue to lose money. Interestingly enough you find the $370,000 of the cost ($900,000) are sunk costs, or in other words they will not go away when the division does. They are general costs. Subsequently if you are to drop Division B, sales in Division A ($4,000,000) will drop by 10%. You are now tasked with making the decision on whether it is cost effective to drop Division B or not.
Upon further inspection you will see that with the decrease in overall contribution margin ($940,000) added to the fixed cost that you will lose ($530,000) will result in an overall loss of $410,000. This is considerably larger than the $200,000 the division was losing before. So as you can see Division B consumes a large portion of the general company cost. So by dropping it you will lose more money than you would normally lose. This leads to the first general rule of business and accounting, nothing is what it seems, always look deeper.
Saturday, April 10, 2010
Internal vs. External
A common theme of business that will never stop happening is hiring new employees to fill open positions. This brings to light the important question of where this new employee should come from, mainly internally or externally.
An internal employee knows the system and the company. They know all the internal functions of the company and the people that work there. This reduces the need for excessive training which can be timely and costly. An internal employee as has a larger likely hood to have a better team oriented attitude towards the company because of their time and experience there. You as management also know what to expect from these employees. Because they have been working for you there should be no character surprises that arise once they are given the job. This can clearly be beneficial to an employer in any case.
An external employee on the other hand has no predetermined biased. Many times someone who has been involved in a company can carry the negative attributes or opinions that you do not redistributed throughout the company. This is where an external hire can be beneficial. A new person will have no ill will to offer the company and can provide a ‘fresh start’ that could be greatly needed. An external employee can also offer the company skills unique to the company and what it does. This is beneficial for when you are planning to expand what the company can do. If your company only sells product A and everyone that works there only knows how to sell product A, then when you plan to expand to product B you will need to hire a person who knows about that product and how to sell it. External employees are a good chance for a fresh start in your company.
Whether you choose external or internal employees to hire is all dependant on what your needs and circumstances are. Both can be a positive experience, but that just all depends and what your needs are.
An internal employee knows the system and the company. They know all the internal functions of the company and the people that work there. This reduces the need for excessive training which can be timely and costly. An internal employee as has a larger likely hood to have a better team oriented attitude towards the company because of their time and experience there. You as management also know what to expect from these employees. Because they have been working for you there should be no character surprises that arise once they are given the job. This can clearly be beneficial to an employer in any case.
An external employee on the other hand has no predetermined biased. Many times someone who has been involved in a company can carry the negative attributes or opinions that you do not redistributed throughout the company. This is where an external hire can be beneficial. A new person will have no ill will to offer the company and can provide a ‘fresh start’ that could be greatly needed. An external employee can also offer the company skills unique to the company and what it does. This is beneficial for when you are planning to expand what the company can do. If your company only sells product A and everyone that works there only knows how to sell product A, then when you plan to expand to product B you will need to hire a person who knows about that product and how to sell it. External employees are a good chance for a fresh start in your company.
Whether you choose external or internal employees to hire is all dependant on what your needs and circumstances are. Both can be a positive experience, but that just all depends and what your needs are.
Thursday, April 1, 2010
Five Skills of a Perspective Employee
The employee’s that you hire are what define your company. If you hire persons of a low caliber then you will notice an eventual shift in your company. That is why it is important that you clearly define what attributes you want in your employees even before you begin the hiring process. An ideal employee should exhibit five basic characteristics. These are Experience, Willingness to Learn, Personable, Persistent, and Honesty.
An employee must have experience in the field that he/she works. This will contribute to your efficiency of production and cut back on any rework time necessary. Nothing in business is more valuable that a confident experienced employee.
Although it is desired to have an employee that knows what he is doing you want your employee to be humble and willing to learn. Most experienced professionals find it difficult to admit when they are unable to complete a task. However eventually, no matter how hard they resist, they will reach a point where they cannot do something. The sooner they realize this the less time that will be wasted in resistance. This will increase productivity and decrease project time.
Employees need to be personable. A business is like a well oiled machine. Each person acts like the gears of the machine and when they work well together then the machine as a whole performs optimally. Each member needs to be able to functionally work with their counterparts in order for your company to be a happy desirable place to work. Let’s say that two employees from different divisions have a feud and do not get along. Eventually they start to spread word to the other members of their division that they don’t like this other person. After a while the members of the division begin to not like this person. This situation, as it continues to escalade, now causes a large separation between not just the people, but the division itself. As a general rule you should always hire people that can get along well with others.
Persistence is another important attribute of an employee. Persistence shows that your employee is willing to go the extra mile to get what they want and to finish what they’ve started. You want a persistent employee so that you don’t have to micromanage. With a persistent employee you are always assured that the job will be completed.
Finally you want your employee’s to be honest. To counter any problems that might arise you can be assured that honesty will diffuse them all. Honesty is the most highly valued attribute. There is no experience, knowledge, or dedication that can replace on honest person in all their dealings. A business staffed with honest employees is and business where people want to work.
If you begin your staffing process with these attributes in mind then you can be assured that you will create a strong business where people will want to work.
An employee must have experience in the field that he/she works. This will contribute to your efficiency of production and cut back on any rework time necessary. Nothing in business is more valuable that a confident experienced employee.
Although it is desired to have an employee that knows what he is doing you want your employee to be humble and willing to learn. Most experienced professionals find it difficult to admit when they are unable to complete a task. However eventually, no matter how hard they resist, they will reach a point where they cannot do something. The sooner they realize this the less time that will be wasted in resistance. This will increase productivity and decrease project time.
Employees need to be personable. A business is like a well oiled machine. Each person acts like the gears of the machine and when they work well together then the machine as a whole performs optimally. Each member needs to be able to functionally work with their counterparts in order for your company to be a happy desirable place to work. Let’s say that two employees from different divisions have a feud and do not get along. Eventually they start to spread word to the other members of their division that they don’t like this other person. After a while the members of the division begin to not like this person. This situation, as it continues to escalade, now causes a large separation between not just the people, but the division itself. As a general rule you should always hire people that can get along well with others.
Persistence is another important attribute of an employee. Persistence shows that your employee is willing to go the extra mile to get what they want and to finish what they’ve started. You want a persistent employee so that you don’t have to micromanage. With a persistent employee you are always assured that the job will be completed.
Finally you want your employee’s to be honest. To counter any problems that might arise you can be assured that honesty will diffuse them all. Honesty is the most highly valued attribute. There is no experience, knowledge, or dedication that can replace on honest person in all their dealings. A business staffed with honest employees is and business where people want to work.
If you begin your staffing process with these attributes in mind then you can be assured that you will create a strong business where people will want to work.
Saturday, March 27, 2010
Preparing A Budget
Preparing a Budget
Preparing a budget in your business is one of the easiest tools available to CEO’s. By having a budget you can review how much you spent last year or quarter, and predict what you will spend this year or quarter. As implied, a budget can be made by year, month, quarter, or for any time interval that you deem relevant. There are two types of ways to make a budget, both giving you similar, but different results. The first is through Absorption Costing. The formula for this is:
Sale – Cost of Goods Sold = Gross Margin
Gross Margin – Selling and Administrative Expenses = Net Operating Income.
This may look easy enough, but there are a few things that are unique about this formula that need to be addressed. In Absorption Costing both Variable and Fixed Manufacturing cost are considered to be product cost, or in other words they are dependent on how many products you sell, not produce. Because of this you need to add both Variable and Fixed manufacturing cost together then divided that number (also known as the Cost of Goods Sold) by the total number of units produced to give you the total cost of production per unit. Then multiply that number by the actual number of units sold. This will give you the cost of everything you sold. The difference between what you produced and what you sold (or the leftovers) will be put into an inventory account for next period. This will give you the Net Operating Income of your company; however this will overstate how much you earned in that time period. It does this because it considers Fixed Manufacturing cost to be elastic, which it isn’t. It is not as accurate, but it is used for external purposed to give the illusion that more money was made that actually was. This is not illegal; however it is not as accurate.
For internal purposed accountants use Variable Costing. The formula for Variable Costing is:
Sales – Variable Cost = Contribution Margin
Contribution Margin – Fixed Expense = Net Operation Income
Like Absorption Costing this looks easy, but has a few tricks to it. First we need to explain the new variables. Variable Cost is a combination of Variable Manufacturing Cost and Variable Selling and Administrative Expenses. Fixed Expenses are a combination of Fixed Manufacturing Cost and Fixed Selling and Administrative Expenses. In Variable Cost only the Variable Manufacturing expense is considered a production cost. So you must divide it by the number of units produced to give you the cost per unit, then multiply by total units sold. Once you have that number, add it to the Variable Selling and Administrative expenses and the rest is how it seems. This type of budgeting gives you a more accurate Operating Income. It is used for internal purposes because it shows potential vulnerabilities in the company that you wouldn’t want competitors to know.
These are just a few examples of budgeting, however using this can be of great advantage to your company. You can plan you allocation of monies better so that you aren’t wasting money and resources. It can help you to prove your stability if trying to obtain a loan, or countless other reasons. Overall a budget is and easy and affective tool for you.
Preparing a budget in your business is one of the easiest tools available to CEO’s. By having a budget you can review how much you spent last year or quarter, and predict what you will spend this year or quarter. As implied, a budget can be made by year, month, quarter, or for any time interval that you deem relevant. There are two types of ways to make a budget, both giving you similar, but different results. The first is through Absorption Costing. The formula for this is:
Sale – Cost of Goods Sold = Gross Margin
Gross Margin – Selling and Administrative Expenses = Net Operating Income.
This may look easy enough, but there are a few things that are unique about this formula that need to be addressed. In Absorption Costing both Variable and Fixed Manufacturing cost are considered to be product cost, or in other words they are dependent on how many products you sell, not produce. Because of this you need to add both Variable and Fixed manufacturing cost together then divided that number (also known as the Cost of Goods Sold) by the total number of units produced to give you the total cost of production per unit. Then multiply that number by the actual number of units sold. This will give you the cost of everything you sold. The difference between what you produced and what you sold (or the leftovers) will be put into an inventory account for next period. This will give you the Net Operating Income of your company; however this will overstate how much you earned in that time period. It does this because it considers Fixed Manufacturing cost to be elastic, which it isn’t. It is not as accurate, but it is used for external purposed to give the illusion that more money was made that actually was. This is not illegal; however it is not as accurate.
For internal purposed accountants use Variable Costing. The formula for Variable Costing is:
Sales – Variable Cost = Contribution Margin
Contribution Margin – Fixed Expense = Net Operation Income
Like Absorption Costing this looks easy, but has a few tricks to it. First we need to explain the new variables. Variable Cost is a combination of Variable Manufacturing Cost and Variable Selling and Administrative Expenses. Fixed Expenses are a combination of Fixed Manufacturing Cost and Fixed Selling and Administrative Expenses. In Variable Cost only the Variable Manufacturing expense is considered a production cost. So you must divide it by the number of units produced to give you the cost per unit, then multiply by total units sold. Once you have that number, add it to the Variable Selling and Administrative expenses and the rest is how it seems. This type of budgeting gives you a more accurate Operating Income. It is used for internal purposes because it shows potential vulnerabilities in the company that you wouldn’t want competitors to know.
These are just a few examples of budgeting, however using this can be of great advantage to your company. You can plan you allocation of monies better so that you aren’t wasting money and resources. It can help you to prove your stability if trying to obtain a loan, or countless other reasons. Overall a budget is and easy and affective tool for you.
Sunday, March 14, 2010
Contractual Law in your Business
The wonderful part of being an American is that you can choose what you want to be, where you want to go, and how you make your money. The American economy is set up in such a way that any person with a good idea can improve their circumstances and become the next “big thing.”
When starting a business sometimes in is necessary to induce the help of others, also known as a business partners. Anyone who reads the new will know that our world is full of business partnerships that go south because of misconduct or breach of contract. This type of action can be very harmful to both parties; however in the event that it does occur, here are a few things you should know that might help you protect yourself.
Contracts:
A contract is a special agreement between two parties. In order for something to be a legally binding contract it must consist of five elements.
1. Agreement
a. The two parties involved must have a specific agreement on something.
2. Consideration
a. The promise (or agreement) must be supported by a bargained-for consideration that is legally sufficient.
3. Elements of Contract
4. Lawful object
a. Can’t be a contract to do something illegal
5. Contractual Capacity
a. Neither of the party members can be either drunk, insane, or a minor.
Contracts do not necessarily have to be signed in order to be legal and binding. Some contracts can be made void by the Clause of Mistake.
Clause of Mistake:
This means that during the negotiating of a contract if false information is given on either side there could be means enough to void the contract. There are two types of mistake. The first is unilateral mistake, and the second is mutual mistake.
- Mutual mistake is when both parties enter into a contract under false pretenses
- Unilateral mistake is when only one person has the false pretense of a contract.
Clause of mistake can void a contract, however if not handled correctly it can do more harm than good.
Misrepresentation:
Misrepresentation is where one party enters into a contract purposefully under false representation. Misrepresentation is characterized by these four principles.
1. The wrongdoer made a false representation of material fact.
2. The wrongdoer intended to deceive the innocent party.
3. The innocent party justifiably relied on the misrepresentation.
4. The innocent party was injured.
If any of these things occur in your contract with another you may be entitled to a voided contract. If you contract is void and you decided to sue you are entitled to certain damages. There are three types of damages.
o Compensatory
Award damage as if contract hadn’t been broken
o Consequential (foreseeable)
damages you can estimate
o Punitive (punishment)
Damaged amount for outright lying to the person and contracting under false pretenses
When starting a business sometimes in is necessary to induce the help of others, also known as a business partners. Anyone who reads the new will know that our world is full of business partnerships that go south because of misconduct or breach of contract. This type of action can be very harmful to both parties; however in the event that it does occur, here are a few things you should know that might help you protect yourself.
Contracts:
A contract is a special agreement between two parties. In order for something to be a legally binding contract it must consist of five elements.
1. Agreement
a. The two parties involved must have a specific agreement on something.
2. Consideration
a. The promise (or agreement) must be supported by a bargained-for consideration that is legally sufficient.
3. Elements of Contract
4. Lawful object
a. Can’t be a contract to do something illegal
5. Contractual Capacity
a. Neither of the party members can be either drunk, insane, or a minor.
Contracts do not necessarily have to be signed in order to be legal and binding. Some contracts can be made void by the Clause of Mistake.
Clause of Mistake:
This means that during the negotiating of a contract if false information is given on either side there could be means enough to void the contract. There are two types of mistake. The first is unilateral mistake, and the second is mutual mistake.
- Mutual mistake is when both parties enter into a contract under false pretenses
- Unilateral mistake is when only one person has the false pretense of a contract.
Clause of mistake can void a contract, however if not handled correctly it can do more harm than good.
Misrepresentation:
Misrepresentation is where one party enters into a contract purposefully under false representation. Misrepresentation is characterized by these four principles.
1. The wrongdoer made a false representation of material fact.
2. The wrongdoer intended to deceive the innocent party.
3. The innocent party justifiably relied on the misrepresentation.
4. The innocent party was injured.
If any of these things occur in your contract with another you may be entitled to a voided contract. If you contract is void and you decided to sue you are entitled to certain damages. There are three types of damages.
o Compensatory
Award damage as if contract hadn’t been broken
o Consequential (foreseeable)
damages you can estimate
o Punitive (punishment)
Damaged amount for outright lying to the person and contracting under false pretenses
Saturday, March 6, 2010
Who to hire...
Every company needs employees and although you as the owner can go and search for the specific employees you want, that could become time costly and prove to not be as useful as you would think. This is why employers will put job postings in papers and on websites, so that those candidates seeking employment will come to them. (The price of a listing being considerably less expensive than employee searching). As you are looking for employees there are a few key things that you can look for to make sure that you will choose the best person for the job.
Each company will have its requirements for a job for which it is hiring. These being the case, keep these requirements in mind as you read through resumes and do interviews. Now, nothing is more annoying than having to interview a person who is obviously not what you are looking for. To prevent this all you need to do is screen through your resumes and your final interviews will be very positive.
First, you listed in your posting of the job the requirements the person needs to have. Likewise your focus should be on those key points. If a good majority of those requirements do not appear within the first half of the resume then I would stop right there and give it no further attention. Even if the person has the necessary skills they failed to present them within the first chunk of their resume. This shows very bad organizational skills and poor attention to detail. (attributes of a person you don’t want working for you). So know what you want and if the person is not trying to convince you from the start that they are what you want then drop them.
Second, keep a list of attribute that you want the candidate to have that were not listed in the posting. These could be things along the lines of personal attributes, golf skills, family, service, etc. You will not list these because these are things you want the candidate to show they have, without knowing they have to show them. This is a large test of character for the person you are hiring. You can tell more about a person through their resume by reading between the lines than actually reading the words.
Third and finally wait to hear back from them. If your candidate is serious enough about getting this job then they will be active about obtaining it until it is filled. These shows great dedication and follow through, attributes that will also show through in their daily work. Wait for a follow up email, phone call, or thank you letter. The candidate that does that will has a higher likelihood to be searching for a career and not just a job.
As you exercise these simple steps in searching to fill a new position you can be guaranteed that your candidates will be better workers. They will be more serious about what they do and you will have fewer problems with them.
Each company will have its requirements for a job for which it is hiring. These being the case, keep these requirements in mind as you read through resumes and do interviews. Now, nothing is more annoying than having to interview a person who is obviously not what you are looking for. To prevent this all you need to do is screen through your resumes and your final interviews will be very positive.
First, you listed in your posting of the job the requirements the person needs to have. Likewise your focus should be on those key points. If a good majority of those requirements do not appear within the first half of the resume then I would stop right there and give it no further attention. Even if the person has the necessary skills they failed to present them within the first chunk of their resume. This shows very bad organizational skills and poor attention to detail. (attributes of a person you don’t want working for you). So know what you want and if the person is not trying to convince you from the start that they are what you want then drop them.
Second, keep a list of attribute that you want the candidate to have that were not listed in the posting. These could be things along the lines of personal attributes, golf skills, family, service, etc. You will not list these because these are things you want the candidate to show they have, without knowing they have to show them. This is a large test of character for the person you are hiring. You can tell more about a person through their resume by reading between the lines than actually reading the words.
Third and finally wait to hear back from them. If your candidate is serious enough about getting this job then they will be active about obtaining it until it is filled. These shows great dedication and follow through, attributes that will also show through in their daily work. Wait for a follow up email, phone call, or thank you letter. The candidate that does that will has a higher likelihood to be searching for a career and not just a job.
As you exercise these simple steps in searching to fill a new position you can be guaranteed that your candidates will be better workers. They will be more serious about what they do and you will have fewer problems with them.
Saturday, February 27, 2010
Database
Why does my business need a database?
Every company is unique in what they do. Even a company that performs a similar service as another (example McDonalds and Burger King) has some unique aspects about it. Aspects, that in fact, is so unique that sets it apart completely from another company. All of these aspects are not just aspects but is an array of things. They can be known as facts, information, data, etc. With each company containing a set of data they have a need to a way to track, edit, search, and utilize this data. This is way a database is needed for every business. It could be as simple as keeping track of employees, or as complicated as online orders but no matter what each company will use it. Any business owner that has every used a spreadsheet for anything is harnessing the power of a database in their business.
How will a well managed database help my business?
There is one sound that no employee or employer likes to hear, and that is “I don’t know where I can find that information.” A company, in order to run efficiently, needs to manage its members so precisely that at any moment when their service is needed that member (or information) will be as readily available as your own hand. This is why it is so important to have a specific design for your database. This design should be set forth by the users themselves so that it is in an order and fashion that they will be able to understand. It then should be reviewed by your database manager to assure that it is logical and then implemented into your system. This way when you are approach by an employee, boss, or customer to find a piece of information you will know where it is and how to retrieve it.
Every company is unique in what they do. Even a company that performs a similar service as another (example McDonalds and Burger King) has some unique aspects about it. Aspects, that in fact, is so unique that sets it apart completely from another company. All of these aspects are not just aspects but is an array of things. They can be known as facts, information, data, etc. With each company containing a set of data they have a need to a way to track, edit, search, and utilize this data. This is way a database is needed for every business. It could be as simple as keeping track of employees, or as complicated as online orders but no matter what each company will use it. Any business owner that has every used a spreadsheet for anything is harnessing the power of a database in their business.
How will a well managed database help my business?
There is one sound that no employee or employer likes to hear, and that is “I don’t know where I can find that information.” A company, in order to run efficiently, needs to manage its members so precisely that at any moment when their service is needed that member (or information) will be as readily available as your own hand. This is why it is so important to have a specific design for your database. This design should be set forth by the users themselves so that it is in an order and fashion that they will be able to understand. It then should be reviewed by your database manager to assure that it is logical and then implemented into your system. This way when you are approach by an employee, boss, or customer to find a piece of information you will know where it is and how to retrieve it.
Saturday, February 20, 2010
Having an effective website
We are often called the “now generation” by those who see to look down upon us for the ease at which we live (an ease that I might add they enjoy as well). So what do you as a private business owner do in order to exploit all you can from this generation? The answer is, conform or die (and the choice between the two is much easier with a lack of moral standards). We are call the “now generation” because we expect instant results, and although this can cause problems, today I want to focus on how it can benefit you.
The internet has undoubtedly revolutionized the world. It has literally put the world at our finger tips and allows us to get results for what we want...now (maybe that’s where the name ‘now generation’ comes from). The internet is can provide your business with the leading edge above other companies who don’t use the internet. The best way to do this is to create a website for your company. A website will provide your customers and potential customers with a fast effective means of obtaining information about your company. This is not new however and virtually every company has a website (frankly you are almost not even considered a company unless you do have a website), but does the effectiveness of your website really matter?
Website effectiveness does in fact matter. The more professional the website the more professional the consumer will think you are. But looks aren’t everything; a good effective website for a business should be able to 90 percent of all company functions. Now I say 90 percent as a relative number. Obviously there are some things that a website will not be able to do, for example cook food, paint a house, and mow the lawn. Frankly to believe that is possible is just plain silly. So when I say 90 percent, we are assuming that means 90 percent of all functions that a website is physically capable of doing. What does this plainly mean? If you sale real estate your website should be able to do almost everything you can do. If you do stock market consulting then let your website do that. I could go on, but I’ll spare you repetitiveness of my words just to prove a point. (Please do not misunderstand me at this point in time. Just because your website can do everything doesn’t always mean you should do it for free. If you do it all for free then you wouldn’t have much of a business at all.)
Bottom line is your website needs to be effective. It needs to inform, offer the same service you do, and most importantly help you sell your product. That is the point of a website! It is a supplementary tool to increase your profit. It is an asset, something you invest in, and you expect that investment to pay off. So there are some simple things you can do to make sure that your website is effective. First make a list of all the things your website could do, then make a list of all the things that it actually does. The ration should be about 9 to 10 on this one. If it is not you might consider changing it a bit to make it easier for your website to help customers. Second you must tour your own website (and even have an outsider 3rd party do the same). You need to make sure your website is understandable. Sure it can do a lot, but if no one can figure out how to do it then what is the point. Keep it simple. Third, check the frequency at which your site is updated. There is nothing more annoying to a user than an out of date site. On a related not there is nothing more idiotic and tacky as a domain name that when accessed brings up a page that says, “This page is currently under construction. We will return by ‘x-date’.” Well of course it’s under construction. Every good website is always under construction. If it’s not then don’t waste your time with it. However by posting this you are only proving to the world that you have no idea what you are doing (and ignorance isn’t very professional is it?)
So to sum it up, effective websites contain three things: 1 – 90 percent of what the actual company does, 2- An easy to understand and navigatable website, and 3 – Is always under construction and update. Personally see to this and I promise that you will have a better, more effective website.
The internet has undoubtedly revolutionized the world. It has literally put the world at our finger tips and allows us to get results for what we want...now (maybe that’s where the name ‘now generation’ comes from). The internet is can provide your business with the leading edge above other companies who don’t use the internet. The best way to do this is to create a website for your company. A website will provide your customers and potential customers with a fast effective means of obtaining information about your company. This is not new however and virtually every company has a website (frankly you are almost not even considered a company unless you do have a website), but does the effectiveness of your website really matter?
Website effectiveness does in fact matter. The more professional the website the more professional the consumer will think you are. But looks aren’t everything; a good effective website for a business should be able to 90 percent of all company functions. Now I say 90 percent as a relative number. Obviously there are some things that a website will not be able to do, for example cook food, paint a house, and mow the lawn. Frankly to believe that is possible is just plain silly. So when I say 90 percent, we are assuming that means 90 percent of all functions that a website is physically capable of doing. What does this plainly mean? If you sale real estate your website should be able to do almost everything you can do. If you do stock market consulting then let your website do that. I could go on, but I’ll spare you repetitiveness of my words just to prove a point. (Please do not misunderstand me at this point in time. Just because your website can do everything doesn’t always mean you should do it for free. If you do it all for free then you wouldn’t have much of a business at all.)
Bottom line is your website needs to be effective. It needs to inform, offer the same service you do, and most importantly help you sell your product. That is the point of a website! It is a supplementary tool to increase your profit. It is an asset, something you invest in, and you expect that investment to pay off. So there are some simple things you can do to make sure that your website is effective. First make a list of all the things your website could do, then make a list of all the things that it actually does. The ration should be about 9 to 10 on this one. If it is not you might consider changing it a bit to make it easier for your website to help customers. Second you must tour your own website (and even have an outsider 3rd party do the same). You need to make sure your website is understandable. Sure it can do a lot, but if no one can figure out how to do it then what is the point. Keep it simple. Third, check the frequency at which your site is updated. There is nothing more annoying to a user than an out of date site. On a related not there is nothing more idiotic and tacky as a domain name that when accessed brings up a page that says, “This page is currently under construction. We will return by ‘x-date’.” Well of course it’s under construction. Every good website is always under construction. If it’s not then don’t waste your time with it. However by posting this you are only proving to the world that you have no idea what you are doing (and ignorance isn’t very professional is it?)
So to sum it up, effective websites contain three things: 1 – 90 percent of what the actual company does, 2- An easy to understand and navigatable website, and 3 – Is always under construction and update. Personally see to this and I promise that you will have a better, more effective website.
Saturday, February 13, 2010
The Fallacy that shouldn't effect your business
There is a common fallacy that exist in the business world that if not fixed could lead to a very dangerous end of the business world. This is the misconception that international trade and labor outsourcing is a competition between us and other nations, and that if we do not stop it now we will lose this so called competition.
The truth of the matter is first and for most that there is no competition for trade or labor between us and any other nation. Any such interaction is only help us as a nation, and more importantly your business. It is a fact that a business that outsources its labor can make a first-world profit while paying third-world wage. Some believe that this is extortion and is not fair to the country, however this is not true. A nation that receives labor from another country is still better off in there industry than if they would have produced their own labor. So the presence of another country only stimulates their economy. But simply one business cannot change a whole nation. To make such a change will take the effort of many businesses. As their presences increases in a poorer nation the overall economy of that nation will improve, thus raising that nation from the dust of poverty.
However this is hardly the bulk of the problem of which I speak. The common world believes what fame and fortune tell them. If you were to look for legal counsel you will make sure it comes from someone with a legal education, the same being said for council on public defense. However that same stipulation does not seem to exist within economics, opening the door to all types of people that can give their opinion on economical issues and pass it as educated. The danger is this: these people who are generally educated pass themselves for being economically educated and play off of the popular opinion of the common person. Both the educated and the common person have little to no experience in economics. Combined they over exaggerate the opinion that the world is a competition and that the common opinion is the right opinion. These people have been given too much power and sooner or later will inflict the misconception on others causing a slow degeneration of the economic stability of the world.
The simple truth is this. Trade is good. International outsourcing is good. Helping others is good, and anyone who tells you differently does not know what they are talking about.
Pop Internationalism, Paul Krugman
The truth of the matter is first and for most that there is no competition for trade or labor between us and any other nation. Any such interaction is only help us as a nation, and more importantly your business. It is a fact that a business that outsources its labor can make a first-world profit while paying third-world wage. Some believe that this is extortion and is not fair to the country, however this is not true. A nation that receives labor from another country is still better off in there industry than if they would have produced their own labor. So the presence of another country only stimulates their economy. But simply one business cannot change a whole nation. To make such a change will take the effort of many businesses. As their presences increases in a poorer nation the overall economy of that nation will improve, thus raising that nation from the dust of poverty.
However this is hardly the bulk of the problem of which I speak. The common world believes what fame and fortune tell them. If you were to look for legal counsel you will make sure it comes from someone with a legal education, the same being said for council on public defense. However that same stipulation does not seem to exist within economics, opening the door to all types of people that can give their opinion on economical issues and pass it as educated. The danger is this: these people who are generally educated pass themselves for being economically educated and play off of the popular opinion of the common person. Both the educated and the common person have little to no experience in economics. Combined they over exaggerate the opinion that the world is a competition and that the common opinion is the right opinion. These people have been given too much power and sooner or later will inflict the misconception on others causing a slow degeneration of the economic stability of the world.
The simple truth is this. Trade is good. International outsourcing is good. Helping others is good, and anyone who tells you differently does not know what they are talking about.
Pop Internationalism, Paul Krugman
Thursday, February 4, 2010
Professionalism
The Declaration of Independence says that all men are created equal, so don’t they deserve to be treated that way too? There is a common code of conduct that exists, or at least should exist, between all human beings. This code dictates how we should treat those around us. Fundamentally this is based on what is known as ‘The Golden Rule,’ which is ‘do unto others as you would have others do to you.’ However this code in the business world is known as professionalism. Professionalism is exactly what it implies; it is how professional we act towards other. This can include our common courtesies such as speaking out of turn, being a distraction, or entering or leaving at inappropriate times. This same code of conduct translates into our classrooms. Our teachers deserve respect for the hard work that they put into their lessons. As such we should treat them the way we would want to be treated if it was us teaching the class. However sometimes this does not always work. I personally wouldn’t mind being treated a certain way by students. There are some things that just wouldn’t bother me. However to others it might, that is why we sometimes we have to consider the feelings of the person, which might be different from our own. As we do this our teachers will in turn treat us with more respect. When we do what is right, and be professional, everyone wins.
Some of this article was inspired by http://www.systemsguild.com/GuildSite/TDM/Professionalism.html
Friday, January 29, 2010
Rolling out New Technologies in your Business
The wonderful part about the day and age in which we live is the increasing amount of technological advancements that are so easily available to us. But how do they become available to us? Do they just appear one day, does it take a week, or does it take years? The answer is obvious that today’s technology took years to come to us. Not just the time it took for the engineers to develop and perfect it, but as well the thousand upon millions of years of human advancement that lead to this one moment. With so much preparation involved in a project it is easy to become excited within its final stages; however these moments are the most important. The time during which you are preparing to rollout a new product is just as important as all other developments that lead to it.
The rollout of a product can be very easy as long as you stick to the three major keys: marketing, communications, and training. First you will obviously want to promote your product or new service to those who will be using it or the target audience of those who will use it. This may be done on the open market, or in a business it is done within the office. This internal type of marketing is not the typical type that one would think of; however it is just as applicable and important. In order to rollout new technology successfully you need to let those who will be using it know what is coming. Many tactics can be implemented to accomplish this. Some find a simple email useful. Others find that they have to use a more physical approach, such as a postcard or memo. No matter what your means this must always be done so that the day the change is made it is not a surprise to your company.
Second is communication. Within the rollout process a special team will need to be made in order to oversee the rollout. This team will have their own budget, leader, and agenda. This team will consist of all different types of people including designers, beta testers, marketing personal, etc. The leader of this team needs to know a great deal about the product, however sometimes it is best to have the leader be someone who does not know everything because your product will be reaching users who will always have a limited knowledge of the subject. This team is in charge of the whole process, from testing out all the bugs, to creating user manuals and other trainings. This team will be your go to spot if you have any questions about the product.
Third is training. No matter what you are trying to roll out training will be required. Some products will require less training (i.e. a simple manual or set of instructions) to more complex trainings (i.e. training conferences, manuals, help desks, etc.). This training will help the consumer know how to use the product, but can also help you in your own task. If you employees are trained well on how to use the product it is less likely that they will need additional help in the future. The more clear that you are in your initial trainings and rollout procedures the easier your job will be in months to come.
Throughout this whole process it is important that you stay in touch with those who will be using the product. Don’t give them things too advanced for them to understand, as well as too simple. Always be willing to help and teach. The more willing you are to work on at this process the easier the rollout process will be.
Thursday, January 21, 2010
Usefulness of Blogs in Business
How can a Blog, a seemingly useless but popular trend among 20-year-old girls and common housewives, be in fact such a useful tool in the business world? Some would argue that it isn't. However, as Megan, founder of www.justformeandyou2.com, has found out it can be very profitable. Just for Me and You is a blog where companies send their product to one of the staff members and that staff reviews the product, telling people whether they should buy it or not. Not only do they review the product, but those who read the reviews are eligible to win that very product for free. So how does Megan and her business benefit from this? The staff get to keep the product that they review, taking care of any need to pay an employee, and the blog also sells space to advertise and through each advertisement that is explored the company gets a certain percentage. Sounds like a pretty good deal if you ask me.
What Just for you and Me has discovered is that people look to the internet for information and opinion. People feel that the internet is a place where they can express themselves and be heard, all in a timely fashion. The internet is a way that a business can connect with its clientele and get real time feedback and suggestions. Some business may even consider outsource the management of a blog because it is such a time consuming task. Proper use of a blog in your business can even promote more business for you. To illustrate this more clearly let us use an example. Let us say that Company A has a product called X. X is a leading edge piece of technology that will expectedly have a few flaws. Company A plans on releasing this product on a global market very soon and wants to work out this bugs as soon as possible. In order to do so the company offers fixes on all product if the clients participate in their blog. Company A now benefits from their blog by receive quality product reviews as well as offering space for advertising. This is only one way that a company can utilize a blog to advertise or market a product, however the possibilities are endless.
http://www.asfdesign.com/blog/why-do-you-need-a-professional-blog-management-service-for-brand-building-79/
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