Career Advice

Inside Information: How To Profit By Sharing Your Expertise

Inside Information: How To Profit By Sharing Your Expertise

By: Robert Boduch

Sharing inside information can boost your sales. It can make your business much more profitable too, since valuable information can be supplied at very little cost.

Quality, timely, relevant, and important information helps prospects and customers make intelligent decisions. The right information makes it a whole lot easier to choose with confidence. Providing additional ideas, advice, insights and resources is a great way to distinguish your product - and your company - from competitors.

What inside information of value can you provide to help your customers and prospects?

Helpful tips, inside secrets, and other creative ideas help to establish your expertise in the marketplace. When you give away this kind of inside information, you create tremendous value that's appreciated by customers. These people feel compelled to show their gratitude by continuing to buy from you, time and time again.

Offering valuable inside information is easier than you may think. Simply look at each product you supply and figure out what collateral information prospects would like to know.
In other words, if you were a salesperson standing in front of your prospect, what additional information of interest could you offer her?

To sell a solid cherry dining room suite from a showroom floor, you'd want to explain the exquisite finish and how to preserve that "new" look. You would point out the quality joinery used to secure the frame to the table legs. You might even open a china cabinet drawer to demonstrate the built-in quality, smooth running hardware and fine craftsmanship that went into it. It's all inside information.

These are precious details that help educate potential buyers. It's information that might otherwise go unnoticed... yet it could be the kind of detail that just might clinch the sale. Pointing out all this inside information helps buyers feel good about the true value of their purchase. It's something they could have easily missed, had it not been brought to their attention.

This kind of detailed inside information is of interest to potential customers and it's something that could easily be incorporated into a free brochure, booklet, report or videotape. It also adds perceived value to the product itself by establishing an exclusive "story" behind it. Don't just give them sales talk of hard-sell sales copy. Give them the facts - good, solid, inside information about what it is makes your product a better buy.

Here are some additional examples of using inside information to inform and educate prospects - and increase sales as a result:

A hardware store could offer a free booklet called "How To Refinish Old Furniture Like A Restoration Pro" to all buyers of furniture repair and refinishing items. This added value item -- offered exclusively -- should help boost sales of refinishing supplies. It's inside information that could only be provided by someone who has done it before.

A travel agent could offer personalized commentary on popular destinations in article format. "The 10 Must-See Spots In Las Vegas"... "The Top 7 Hottest Clubs In Nassau That Only The Locals Know About"... or, "11 Spectacular Sites Of Costa Rica You've Just Got To See At Least Once In Your Lifetime" might be great topics for niche market vacationers. If you fit the market profile and were planning a trip, wouldn't you at least be curious about this promising inside information?

If you plan to give your information away freely, prepare it as you would a salable product. Don't scrimp on quality in terms of both content and appearance. When an information product "looks" like something of value - it is. When you offer your report or booklet free with purchase, it's much more likely to act as an incentive to the sale.

 

Author Bio
More resources at www.makeyoursalessoar.com
Robert Boduch is the author of more than 2 dozen books, reports and guides on the art and science of selling.

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Sell More The First Time - Juice the Front End

Sell More The First Time - Juice the Front End

By: Robert Boduch

The concept is simple... Increase the amount of the initial customer purchase by offering discounts or other extra bonuses on quantity purchases.

What you want to do is encourage the buyer to spend more money by offering special inducements, extras, discounts and special deals. Some buyers are happy to buy consumable products by the case, rather than by single package, if they can save a little money by doing so. Just look at the success of stores like Costco. Much of their food items are bundled into quantities that are larger than those a typical family would buy. But often the price is just too hard to pass by. People end up spending more cash to "save" money.

Once you have a customer in your store, or browsing through your catalogue, your task is to maximize the value of that purchase. You want to make it easy for your customer to spend more than he or she originally planned to. And you want them to do so happily and without regret.

Your goal should always be to develop life-long customers. Therefore, whatever special deals you offer them should always be in their best interest.

Examples

Increasing the value of a purchase can be as simple as providing supporting materials or accessories that are natural and convenient additions to whatever the customer is buying.

An electrical supply store could offer booklets that guide homeowners to safely make minor repairs and installations. A store selling sportswear - sweatshirts, track pants and tee-shirts, could also offer socks or wind-breakers as extra accessories.

It could also mean scaling your prices according to the amount purchased. This works well with products that have large profit margins and where customers can easily justify getting more than one, such as with gift items.

There's a fellow who sells single bottle wine stands at local fairs and shopping mall shows. The product is simply a single piece of wood cut on a sharp angle with one hole drilled right through, cut on the same angle. The weight of the bottle balances the board. It's a novel idea that captures people's attention. This marketer sells one wine stand for $5 or two for $6.50. He sells far more packages of two than single unit sales. Why? It's such a great deal, few can resist. An extra buck and a half is mere pocket change and there's always someone the buyer could give it to.

Think of supermarket pricing. Where I shop, the price of bundled green onions is 3 for 99 cents. There's no price listed for just one bunch. Guess what? Most people that buy, take 3 bunches for 99 cents. Why? It's a perceived special price on a quantity purchase. The actual value may even be irrelevant. People often assume that it's a better price for three than for buying just one. Here's how the thinking goes. "Maybe I'll be charged 50 cents for one. Buying 3 gives me each for just 33 cents. That's better value, so I'll buy 3".

You can often encourage customers to spend more by offering an attractive discount on a second or third similar product. This could work well for businesses whose customers would like to buy more than one. A good example would be a ladies shoe store. Such a business could significantly increase sales by offering a second pair of shoes at 15% off.

More resources at www.makeyoursalessoar.com

 

Author Bio
Robert Boduch is an author of dozens of best-selling books, reports and articles on the art and science of selling. A free newsletter targeted at anyone interested in selling more of anything is available at www.makeyoursalessoar.com

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Working With The Disabled

Working With The Disabled

Working With The Disabled

By: Lydia Ramsey

Since Congress passed the Americans with Disabilities Act in 1990, people who previously had limited or no access to public places now move about with a degree of ease in the workplace. While these people have their challenges with sight, hearing or movement, those who work with them are often confused about how to interact them with sensitivity and understanding.

Here are some of the issues to keep in mind.

When it is necessary to mention the disability, language should emphasize the person first, the disability second. Rather than referring to someone as an epileptic, say "person with epilepsy" or "John, who has epilepsy...."

Avoid words that have a negative tone. People who use wheelchairs are not "bound" or "confined" to their chairs. A person may have spastic muscles but should not be described as spastic.

Preferred language is simple. Instead of saying that a person is "crippled with arthritis," "suffering from MS," "afflicted with ALS," say, "John has epilepsy" or "Mary has MS."

Use the following terms:

"Congenital disability" rather than "birth defect."
"Non-disabled" rather than "normal," "healthy" or "able-bodied."
"Condition" rather than "disease" or "defect."
"Visually impaired" rather than "blind" unless a person is totally sightless.
"Deaf" or "hard of hearing" rather than "hearing impaired."
"Little person" or "dwarf" rather than "midget."
Words or phrases like "victim," "cripple," "unfortunate," "dumb," "deaf mute," "deformed" and "pitiful" are offensive.

Ask people with disabilities if they need or want help before trying to assist them. If they want assistance, ask for specific instructions on how you can be helpful.

Look directly at any person with a disability when talking even if the person has an interpreter or companion present.

Don't assume a speech impairment indicates that a person also has a hearing impairment or intellectual limitations.

Allow people with speech impairments to finish their own sentences. Don't talk for them or interrupt. Ask questions that permit short answers or a nod of the head. The other person always has the option of giving a longer response.

Speak calmly, slowly, and distinctly to a person who has a hearing problem or other difficulty understanding. Stand in front of the person and use gestures to aid communication.

When walking with a person who is visually impaired, allow that person to set the pace. If the person asks for or accepts your offer of help, don't grab his arm. It is easier for him to hold onto you.

Never start to push someone's wheelchair without first asking the occupant's permission.

Leaning on a wheelchair when talking to the person is inconsiderate.

If you will be having a long conversation with someone using a wheelchair, get a chair and sit at eye level with the person. You will both feel more comfortable.

Keep in mind that people with disabilities are just like everyone else with the exception of certain physical conditions. Treat them as the capable competent co-workers or colleagues they are.

 

Author Bio
Lydia Ramsey is a business etiquette expert, professional speaker, corporate trainer and author of MANNERS THAT SELL - ADDING THE POLISH THAT BUILDS PROFITS. She has been quoted or featured in The New York Times, Investors' Business Daily, Entrepreneur, Inc., Real Simple and Woman's Day. For more information about her programs, products and services, e-mail her at lydia@mannersthatsell.com or visit her web site http://www.mannersthatsell.com.

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Think Long And Hard About Offshoring

Think Long And Hard About Offshoring

Think Long And Hard About Offshoring

By: David Jones

Like outsourcing, but over more time-zones in different languages and cultures, offshoring is a huge step to take if you haven't done it before. Getting it right can open up new avenues for increased productivity for a whole host of your organisation's processes. Getting it wrong can mean the "O word" is never mentioned again and your organisation is burdened with costs that competitors divested long ago.

Offshoring Models - Take Your Pick

Should you be considering a lower risk & reward partnership with a Big Four consultancy who own the offshore relationships, or a more "do it yourself" approach where you put all the offshore supplier relationships in place? On the other hand would you prefer to acquire or establish a business offshore? The typical risks and rewards of the models can be significantly different, so take a bit of time getting this decision right. Some companies take a progressive approach; they get help with the earlier offshored processes, and then ultimately transition to establishing their own organisation offshore.

Before You Do Anything

If you haven't offshored before, consider offshoring "back-office" rather than "front office" processes first and don't try to reinvent the wheel. Start by selecting the right project manager; someone who's "been there" and "done that" before. If you're not partnering with a "Big Four" consultancy and you can't wait for headhunters, give some thought to interim management as an alternative. Whatever route you take though, don't risk using someone who looks good, but actually hasn't done it before. You'll need someone who knows what actually happens, who really knows the key risks and how to mitigate them; someone who knows which are the emerging markets and those which are more mature.

Once you've found your experienced offshorer, give them unambiguous terms of reference and then build a full time multi-disciplinary offshoring team around them. If you think you can't afford to build a multi-disciplinary team, for the duration of the project, think again. Can you afford not to?

What's The Worst Case Scenario?

Before you go much further, get the team to work out what the likely benefits will be and also what your offshore disaster recovery plan is going to look like and cost. The latter may be a rapid re-onshoring of the process, but whatever it looks like, it's best to know what the worst case scenario is and decide whether the risk-reward ratio is right sooner rather than later.

Consider Re-Engineering Before Offshoring

In the rush to offshore, most companies overlook this, but whichever model you choose it's better to optimise your processes before you offshore them. This has several benefits. It ensures that the key steps to process success are documented formally, rather than them remaining carefully guarded secrets in your employees' heads. Understanding current process performance also helps to develop confidence about what level of improvements are likely to be achievable. The application of lean techniques can reduce the cost of a business process (before offshoring) by between 20-30% and reduce in process inventory levels and lead times by 50%. That way you capture the savings before the transition to offshore, otherwise your eventual supplier will retain them. Importantly simplification will help to make the process more robust, whoever's ultimately operating it.

Engaging With Offshore Suppliers

Identify what the key success factors for an outsourced relationship are, and issue a Request for Information (RFI) to potential suppliers. From this identify what additional benefits the offshore suppliers should be able to provide because they are specialists in the field.

Be absolutely clear about what your performance expectations are from the beginning. Set these as objectives when you first meet with long-listed suppliers, and repeat them for conditioning purposes at every important meeting. Back this up with a contract which includes comprehensive service level agreements (SLAs) as schedules; and where you want ongoing performance improvements draft clauses with win-win incentives.

Make sure that you get your "supplier quality assurance" assessments right. Run in-depth diagnostics inside the short-listed suppliers' businesses and let your process experts find out how suppliers really do things.

If you've comprehensively specified your requirements, give serious consideration to using e-Sourcing (e-Request for Information, e-Request for Quotation & Reverse e-Auctions) to minimise suppliers' prices, but don't forget to take account of any fixed costs which will be left behind and will have to be shared amongst the remaining onshore cost centres.

When you've selected your supplier, run "on-shore" trials with "offshore" employees to prove the concept and develop and train supplier "super-users", then run "offshore" pilots, before rolling the solution out on a grand scale.

Then when the relationship is established put full time supplier relationship managers in place, who understand in detail how the onshore process worked, and will work inside
your offshore suppliers to drive continuous improvement against the SLAs and maintain service quality.

Conclusion

Yes offshoring has its risks, but a carefully managed project led by someone who really knows what they're doing, can open up an entirely new range of opportunities to improve your organisation's performance.

 

Author Bio
David Jones works for Executive Interims - Supply Chain Practice providing supply chain interim management services - see www.executive-interims.co.uk/interim_management/interim_management.asp .

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Financial Benefits of Outsourcing Will Bring Huge Profit to Your Business

Financial Benefits of Outsourcing Will Bring Huge Profit to Your Business

Financial Benefits of Outsourcing Will Bring Huge Profit to Your Business

Outsourcing, outsourcing and more outsourcing, it seems that this has become the buzzword in business circles. So why does everyone want to outsource their business process. Well there surely must be huge benefits for so many businesses to be undergoing this process on such a large scale. Financial benefits of outsourcing is so huge and immense that all firms who want to unburden themselves from the heavy workload use outsourcing to meet the growing demand of their work.

More than ever, now companies and business firms are waking up to the ides of giving their work to be handled by an outside company or third party as is known in the business world. Outsourcing is very much in vogue these days. In developed countries there is an insufficient number of qualified and talented professionals. Also the price of qualified labor is very high in these countries. But this entire shortcoming in no way means that the business process takes a backstage.

Work has to go on in any condition and outsourcing is the perfect answer to this. All work is mostly outsourced to developing countries. These countries have immense qualified manpower that can do your work perfectly. What is more, your work will be done at less than half the rate that professionals working in your country will require. For example if you need to pay a professional about a hundred dollars for doing a particular job, you will have to pay about twenty dollars to professionals who will do the job for you through a third party.

Just because almost everybody and anybody is undertaking outsourcing for their business does not mean that you will also have to undergo the process. First of all carefully examine the various factors of your business and determine if undergoing this process will actually benefit your business or not. All businesses have different requirements and thus it is all the more important for you to find out if you can undergo this process. So while this can benefit some businesses it may not be so for some other business.

There are many factors you need to consider before you actually go about outsourcing for getting financial benefit for your business. You will be handing over all the major attributes of your business to be handled by some third party. Think carefully if you are comfortable with this or not. You will be handing over all the financial details of your business and so you must have complete trust on the third party firm that is handling the work for you.

Any company you choose for helping you in completing projects and deadlines must have the best security features in place to safeguard your personal information and data. You can find out other companies that have used their services and see if they are satisfied with the work of that outsourcing firm or not. Only when you are fully satisfied with all your queries go ahead and outsource your work to that third party.

There are many outsourcing companies that give you the offer of checking out the quality of the work that is done by them. You can actually give them some work to be done and see the quality of the work that is done by them. If you find that the work done by them is not up to par, you can always go to some other company who will do the work for you.

Author Bio
Michelle Barkley is a CPA working for IFRworld. She specializes in Accounting Outsourcing ,Bookkeeping Outsourcing and tax returns preparation outsourcing. To know more and to use the services visit www.ifrworld.com

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Outsource Staffing to Meet Your Increasing Business Needs

Outsource Staffing to Meet Your Increasing Business Needs

Outsource Staffing to Meet Your Increasing Business Needs

Outsource staffing is an effort made by outsourcing companies to provide you and your company with just the perfect employee capable of doing your work to help you run your business smoothly and perfectly. To run any organization successfully and efficiently it is very important to choose the right people who can do the required work. Well it is correctly said that a company or an organization is as good as its people. So choosing the man power who will work for a company is as crucial as selecting any other major component of a business. Business owners must make an extra effort to select the best people to work for them.

On the whole staffing process, that is selecting the right staff and training them to do the work for a business is a time consuming and exhaustive process. Outsource staffing is a simple means for you to be free from all staffing worries. It requires a lot of effort, time, planning and other resources for an organization to go about hiring the best staffing services. Outsourcing staff is the best and the most viable option for any firm to select and hire the services of the best people to work for them.

One of the main benefits of outsource staffing is that you can save lots of money, time and other resources. Most businesses and companies have many time consuming and complicated jobs to take care of for running their business successfully. So in such a scenario outsourcing staff becomes the best option. You can also save huge amounts of money if you outsource staff from outsourcing companies. The cost of labor in developing countries is very low and when professionals do the outsourcing work from developing countries, the work can actually be done at a much lower rate.

Once you have outsourced the staff of your business you can also have lots of time at your disposal. This becomes possible as outsourcing lets you free up your valuable time. The professionals who have freed up from the workload can deal with other important business deals. Also all the other important sectors of your business can be dealt with as the internal staff can be freed up.

One thing that has been noticed in most businesses is the fact that professionals switch jobs very frequently. This has a very negative effect on any business. After a professional has been hired and trained to do particular types of work, they leave the organization. This means the loss of time money and all the other resources that was used for training the professional to work according to company standards. So the next time you want to hire new professionals think about all these aspects and you can find outsourcing staff to be a better option for your business.

Whether to outsource staff or not is entirely your decision and no one can force you to decide on anything. So before you actually go about outsource staffing you must find out if this will benefit your business or not. After you have undertaken the process for your business, at anytime you find that you are not satisfied with the work done, you can simply take back the work and let someone else do the thing for you. There are plenty of outsourcing companies form which you can hire the outsourcing services.

Author Bio
Michelle Barkley is a CPA working for IFRworld.She specializes in Accounting Outsourcing ,Bookkeeping Outsourcing and tax returns preparation outsourcing.To know more and to use the services visit www.ifrworld.com

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10 Keys to Guaranteed Success in Negotiations

10 Keys to Guaranteed Success in Negotiations

10 Keys to Guaranteed Success in Negotiations

By: Paul Wilson

Negotiating is a skill that like warfare tactics must be honed. It is important to be mentally prepared to win. Do the ground work well before your reach the negotiating table and decide on the "path" you are going to take. Positivity will help as also a sense of confidence and self esteem. Set aside any doubts you may have and stride forward prepared to win at all costs.

The five cornerstones of successful negotiation skills are placing emphasis on common points; presenting clear arguments; being innovative and open to several options; focusing on the problem being dealt with; looking for a clear solution. The key is to be clear about your preferred outcome. However in the back of your mind you must be willing to compromise to some extent.

A good negotiator is an excellent communicator and understands how human beings think, feel, and function. You must be able to befriend the people seated on the other side of the negotiating table. You must know when to push hard, when to accept a compromise, and when to walk away. A negotiator is in many ways an artist he needs a great amount of creativity to steer the negotiations to a successful completion. A negotiator must keep in mind the 3Fs: fair, fast, and firm.

According to the gurus there are tactics to be used for negotiating:

1. Be focused on the problem or issue. Logical arguments are the key to smooth negotiations.

2. It is important to be firm yet polite when making a stand or presenting a point.

3. Clearly emphasize the advantages and disadvantages.

4. Be patient and let the process of negotiation take its course.

5. Put ego aside and concentrate on the matter at hand. It is finding an amiable solution that's important not self worth or position.

6. Never threaten or manipulate the opposite party-it is completely unethical and unfair.

7. Aim for solutions that are interest based and not what individual desires or aims are. It is best to consider any situation as a whole rather than from a personal view point.

8. Avoid psychological traps and have the magnanimity to admit when you are wrong. Be open minded.

9. Don't accept weak solutions and try and negotiate a plausible settlement. Temporary measures are not what you need. A permanent solution must be sought.

10. Value time, schedules, and deadlines. A good negotiator will not beat around the bush or adopt delay tactics or waste time talking about mundane matters. It is professional to immediately get down to the business at hand.

Most human beings are born negotiators. From the first breath a baby takes it makes all around him dance to his tunes. Most of us consciously or unconsciously do what we have to do to get our own way in life. And, if we look closely it is just mastering the art of negotiation.

 

Author Bio
Paul Wilson is a freelance writer for www.Submit-Article-Services.com, the premier Article Submission website including services to submit article, write articles, ghost write articles, plus a guranteed inclusion on 125 sites per article, and more. He also freelances for the premier Domain Site www.1866Domains.com

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Numbers Don't Lie; Interpretations Might

Numbers Don't Lie; Interpretations Might

Numbers Don't Lie; Interpretations Might

By: Gary Patterson

"A full 17% of respondents admitted that their CEO's had pressured them to misrepresent results at least once" per a 2002 Electronic Business article. How comfortable are you with the financial results used to manage your business?

This article will cover five major areas you might look at or have someone look for you to increase your ability to better know where you really are financially, to be able to sleep better at night. The more of these areas that may be a concern at your company, the more urgent a corporate physical may be.

1. Most companies do not accurately know their top ten customers.

2. Many companies have capitalized some item in the past, whose realizable value will become questionable.

3. Most companies do not know how they will be affected by profitability changes at their top ten customers.

4. Many companies have an asset that strategically they would be better off sel! ling at a loss to pursue some new opportunity.

5. Many companies have painted an overly optimistic picture to a customer, vendor or financing source.

Top ten customer profitability "I am starting to visit our top ten customers. If you find out who they are, please let me know." said the CEO. I have been asked different versions of that question by more than one corporate leader. A little talked about secret is that most companies do not accurately know their top ten customers. If you are willing to define that as the largest customers by revenue, maybe you know this top ten list. If you want to accurately know the ten most profitable customers, good luck. Changes in business, product changes and system incompatibilities often make this difficult to do without getting the right eight people in a room for a day.

A past capitalized item will be questioned. Cisco wrote off two billion dollars of inventory several years ago. Many companies have capitalized some item in the past that will be questioned. Goodwill will be reviewed annually. All of us have read the horror stories of write-offs that in hindsight raise questions that often were not valid or even a factor when those assets originated.

One of my favorites was a company that accidentally set up a sophisticated process that accidentally capitalized part of the write off to that asset in the current year additions to the capitalized asset. If you have reserves, allowances or estimates for loss, why not take a critical look at them at least once a year for downside risk. In more conservative days, the CFO would cover things like this when a year came in better than expected.

Profitability change at the top ten customers Those fortunate companies that accurately know the profitability of their top ten customers normally fail to cross the next hurdle of knowing with conviction how the fortunate company's top customers will be affected by profitability changes to those customers. There is a timeframe when top ten customers drop off the A list.

Having discussed how this affects the best performing companies, guess what that means for the companies who do not accurately know profitability of their top ten customers.

One very interesting exercise I helped on was to estimate the benefit our customer received from our service to see which customers were benefiting or losing money on being our customer. That produced some very interesting and unfortunately accurate estimates of customer retention.

Sell that asset and re deploy the money Has your financial department ever told you that the company has to keep losing money on branch or product because we can not admit to the financial loss the company would have to take if it disposed of the asset? I suggest a lesser version of this situation is failure to look at return on equity related to assets or departments. Many companies have one or more assets they would be better off selling at a loss and re investing in another opportunity. This can be particularly true when the executive bonuses are mainly a function of the dollar level of profitability, with limited influence on return on equity or similar measurements. For those of you who say their company has a mechanism that investment proposals meet threshold rates, how often does someone report back convincingly with what return the investment actually received?

Painting an overly optimistic picture to outsiders Last but not least. How many companies have painted an overly optimistic picture to a customer, vendor, or financing source? If "forty four percent of Americans lie about their work history" per ADP Screening and Selection Services, might they stretch the truth a little while representing your company. The effects of this are really hard to quantify. When does puffery become misrepresentation?

I have told CEO's and groups that Murphy's Law suggests your not knowing your company's real equity and risk areas will be a problem at the worst opportune time. Just take a look at all the items someone like me will ask for using a due diligence checklist, and follow up to see how well your company's rough spots would stay hidden. If you do not have such a list, contact me for an example of a standard list. What will you do next week to understand the soft areas and risk factors that all companies have to some degree?

 

Author Bio
Gary Patterson is the author of "Numbers Don't Lie; Interpretations Might." He has helped numerous high growth companies enhance growth and profitability. Visit his site to see how you can get a free consultation www.FiscalDoctor.com or mail to Gary@FiscalDoctor.com

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The Ready Reckoner to Finding the "Right Person for the Right Job"

Finding the Right Person for the Right Job

The Ready Reckoner to Finding the "Right Person for the Right Job"

By: Mahalakshmi Prabhakaran

Ever heard of the "round peg in the square hole" syndrome? It can essentially be used to describe a situation where you have hired the wrong person for the right job or vice versa.

Most companies generally hire employees based on their essential qualifications and experience. However it holds wise to remember that there are a multitude of factors that need to be kept in mind, while hiring a new incumbent. No matter how long it takes to find the perfect person for the job, it pays to wait for the right candidate to walk in than hurry and choose an ineffectual.

Sadly in spite of a growing awareness about these factors, a lot of companies still go wrong in the hiring process and end up placing the wrong person for the job. A wrong hire does not only add to the cost burden but also to the work and time burden of a company. As is often said, 'wrong hiring is worse than no hiring'.

This article seeks to provide you with answers to the essential question: Why do so many companies still make the same mistakes? Additionally giving you pointers on what you should remember during the interviewing process.

Look beyond qualifications and experience
Generally, when a job need has been identified, HR executives draw up a brief, detailing the job tasks and the relevant qualifications and experience needed from potential candidates. So while IQ and aptitude required for the job is listed, the EQ and attitude required for the job is given a see-through. The failure, to assess the inter-personal and intra-personal qualities needed of an individual for a job, is one of the more common reasons for hiring a mismatch.

Pointer#1
To avoid this mistake remember to list the qualities you think are required for a job profile. This makes for a scientific hiring process. One that will help you pick the right candidates from the wrong.

Prepare for the interview

An interview is by far the most accepted method to recruit new employees. Given its criticality many companies, in reality, rarely give a thought to planning the interview process. The fallout of an unplanned interview is that the right questions remain unasked, leaving you with a misfit in hand.

Pointer #2
Plan the interview. Determine the questions you want and a general guideline of the answers you expect for the same. As an interviewer, YOU need to guide the interview process. A well-thought interview process will effectively help you to evaluate a person's skills and determine if he/she is the right candidate for the job.

Follow the 80/20 rule

An adage that interviewers generally tend to forget is that "It pays to listen". More often than not, it's the interviewers who end up talking more than the interviewees!

Pointer #3
While interviewing follow the 80/20 principle: Listen 80% - Talk 20%. You need to learn as much about the candidate as you can, to best judge if the incumbent is the best fit for the job. At the same time, remember to allocate sufficient time to brief the candidate on the company and the basic job requirements.

We've listed some of the more common reasons for wrong hires.
What if you've already made a wrong decision? In such circumstances, just be patient and let the person grow into the job- have them groomed for the job by offering them the necessary training and letting them learn on the job. Else, you may want to examine the possibility of redirecting the candidate to a job more suited to his aptitude and skill set.

All said and done, the hiring process should be dealt with, with more care and thought. While this ready reckoner will make your job of interviewing easier, it definitely pays to hire a professional staffing company.

Author Bio
Mahalakshmi is a Marketing Writer for CAMO Technologies. CAMO Technologies is a global IT Outsourcing solutions provider offering IT Staffing services, Application Development services, Software Testing services and Web Services.

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Get The Fundamentals Right

Get The Fundamentals Right

Get The Fundamentals Right

By: Kevin Sinclair

To succeed in business on the Internet, or in the off-line world, requires an understanding of the fundamentals of business and using them to your advantage. In this article, I will outline what I consider the fundamentals of business success are.

Believe in Your Product or Service
First, you need to believe in your product or service. If you don't believe in it, you will have a great deal of difficulty selling your product or service to other people. You also need to have confidence in your ability to provide and promote your product or service. An old saying sums this up best by stating: "All things are possible to he who believes".

Aptitude for the Business
Secondly, you need to have an aptitude for the business. You will also need the motivation to acquire at the very least basic skills and experience before you start your business. If you were to set yourself up as a web designer but did not have any skills or training in this area, then you will almost certainly fail. However, if you are employed as a bookkeeper and you enjoy the job, then setting up your own bookkeeping service would be a sensible choice with a greater chance of success.

Be Responsible
Thirdly, you need to be responsible to your customers. This is achieved by only making commitments you can keep and by not engaging in misleading or dishonest advertising. If you want to build long-term success in your business, then you need to develop long-term satisfied customers. When their needs are being satisfied, customers are at their happiest.

Aim for High Quality
The next principle is that you need to have a high quality product or service. This will be your best advertisement. Inferior quality products usually generate poor customer satisfaction. A dissatisfied customer can be very dangerous for your business. Usually they tell on average about fourteen other people who will then be disinclined to buy your product or service based on the experience of that one dissatisfied person. Therefore, always aim for a top quality product or service.

Make a Profit
However, it is not enough to have a top quality product or service. You also need to have a product or service that will generate enough income to cover all your business expenses and give you a satisfactory wage. A friend of mine once said that business is only about two things: satisfying customers and making a profit. A simple statement but very true.

Sufficient Start-up Capital
You also need to have access to enough cash to set up and run your business, and enough income to meet your private expenses during the start-up phase. A major problem with many home and small businesses is that they fail to have enough money available to ensure their success. There is nothing more discouraging than having a great idea, getting it started on a shoestring, not being able to expand due to cash shortages and seeing a competitor come along and steal your market.

Start Small
Another fundamental principle of home business success is that you start small. This will enable you to minimize your overheads until you are confident of your success in the marketplace. For many of you, this would mean starting part-time while retaining your full-time income source. When you can, expand your business into a full-time venture. This is a great way of minimizing the risk of failure.

Be Well Organized
Successful businesses are well organized. They have a system for keeping track of expenditure and earnings. This level of organization in your business will help to ensure that you are providing your customers or clients with a top quality product or service. It will also ensure that you have enough information available to maximize your profitability and to satisfy your legal requirements for record keeping.

Be Prepared
Preparation is another key ingredient in your business success. This preparation will include being aware of the regulations and laws affecting small and home business. Armed with this knowledge, you should not have any nasty surprises from unintentional violations of the law.

Have a Business Plan
Finally, successful businesses have developed a comprehensive business plan. This is their road map to success. It tells them where they are going and how they are going to get there. There are a number of good resources about business planning on the Internet. Here are some:
www.bplans.com
www.businesstown.com/planning/creating.asp
www.bizplanit.com/vplan.htm

Conclusion
It has been said that genius is one percent inspiration and ninety-nine percent perspiration. The same can be said about business success. Without having the fundamentals in place, a great business idea will usually fail. Set yourself up for success by considering each of the points raised in this article.

 

Author Bio
Article by Kevin Sinclair, CPA, of Personal & Business Success Resources. Visit his website at www.business.ksinclair.com.

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