| [1183] More "General Business" Articles |
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# 1973 Proper Technique for Quitting a Job
After months of looking you’ve finally found the job of your dreams. The new company loves you and wants you to start work as soon as possible. The only problem is how to quit the job you have? Though you may have fantasized about telling your present boss to take this job and, well, you know how the song goes, there is a right way and a wrong way to quit a job — and just up and quitting in a bout of anger is definitely the wrong way.
The right method of quitting a job means formally resigning from your position. And even when you’re excited about leaving and perhaps even desperately want to leave, it can still be hard to actually resign. But it must be done — and the sooner the better. You should resign immediately when you’ve accepted a position with another company. This is particularly important if you’re going to work for a competitor because some companies have policies where this could cause what they consider a conflict of interest and they will want you to leave immediately after you’ve given them your notice.
When resigning from a position, you will want to give your employer a written letter of resignation. This letter does not have to be long or detailed, but should include the following:
• Salutation to specific manager of the department you’re leaving or Human
Resources manager
• Date of tendering your resignation
• Date you’ll be exiting your position
• Brief explanation (i.e., I’m leaving to take a position that will offer
more opportunity for advancement, to be a full-time mother, etc.)
Again, when writing your letter of resignation, there’s no need for in-depth details or to give the name of the company you’ll be going to work for. Also, don’t give into the temptation to use your resignation letter to vent your anger and/or frustration. This could cause you career difficulties down the road. Make your resignation letter short and to the point, and keep it as positive as possible.
If you’ve had a good experience with your company and managers, don’t be surprised if you receive a counter-offer. But you’d be wise not to take one. Staying with an employer that you’ve already made plans to leave rarely works out well. In fact, in most cases people end up leaving within a year after taking a counter-offer.
Emotions run high when you quit a job, even a job you dislike, and it’s always easier to stay with the devil you know rather than take a risk on the one you don’t know. Still, whatever reasons you had for seeking employment elsewhere will not go away if you decide to stay, so make your decision to leave and don’t give into pressure to stay, well-intentioned as it may be. The last thing you want to do is to have to endure resigning all over again!
LaJobHunter is an Los Angeles area job search engine. Specializing in providing job listings and resume. Our writers contribute original content to help you in your career search.
lajobhunter.com/lajh.
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# 8830 Are You Getting the Credit You Deserve?
by Lee Kendrick
Have you ever wondered why so many businesses fail within 1-2 years, or even after 5 years in business? To many business owners, this question is scarier than finding a burglar standing over your bed at night. So, here's some common sense advice that can save your business, regardless of how long you've been in business.
First of all, building a solid business credit rating is possible regardless of your personal credit scores. Obtaining the right types of corporate credit is vital to: the protection of your personal assets, the risks associated with personal lawsuits affecting your business, and your business' ability to weather economic changes that seem to occur overnight.
All business owners must make it a weekly priority toward developing relationships with the right types of lending institutions. You usually want to start your application process with out-of-state, national (or international) lenders... not your local or regional banking institutions; because these larger lenders typically won't require a personal guarantee or your social security number.
However, there are many steps you'll need to take before you start applying for any type of business credit. Ultimately, it's in your best interest to find a competent professional that can help you navigate through the murky underworld of building a strong corporate credit rating... giving you a head start on your competition and also letting you focus on running your business' day-to-day activities.
An excellent business credit score can help your company's image, overnight. You need to be able to answer some very basic questions, before you apply for any business credit.
1. Is your business structured as a sole proprietorship, C-corporation, S-Corporation, Limited-Liability Corporation (LLC), Partnership, or Trust?
2. How long has your business been recognized by your State and Local government?
3. Has this company ever had any derogatory information provided to the most popular business credit reporting agencies, Dun & Bradstreet or Experian?
4. Does your company have the proper permits, licenses and registrations necessary to conduct business in your jurisdiction?
5. Does your business have a physical address?
6. Does your business have a landline telephone number that's recognized by directory assistance?
7. Are your incoming telephone calls professionally answered in your business name, or is it answered as if incoming calls are personal conversations?
8. Does your business have a business checking account?
9. Does your business have an Employer Identification Number (also known as an EIN)?
If your answer to the first question was a sole proprietorship, partnership or trust; I urge you to re-establish your company as a corporation or LLC. I'm not going to provide you with legal advice, but many CPAs and attorneys highly recommend LLCs (Limited Liability Corporations) as a way of protecting your personal assets and estate... in the event of any lawsuits being filed against your company. As a sole proprietor, your personal assets are at direct risk of seizure or forfeiture when faced with most types of legal action. Additionally, most lending institutions will not require you to provide any personal guarantee when applying for credit in the name of an LLC.
A corporation can still face difficulties applying for business credit, if it has been in business less than 2 years or if it has had previous credit problems reported against it... although it's not impossible to overcome. Here are some common fixes. You can purchase a "shelf" or "aged" corporation that's been recognized by your State government for longer than 2 years. You can attempt to repair your business credit rating by writing dispute letters to Experian or Dun & Bradstreet, which isn't always possible. A few corporate credit experts will sell you "shelf" or "aged" corporations, some of which already have strong credit ratings established in each entity's name, saving you a lot of hassles.
I cannot stress this enough. You must have a physical address (not a PO Box) if you want to establish a solid business credit rating. The same thing is said for telephone numbers & the way incoming phone calls are handled. You don't have to act as if your company is a Fortune 500 company. You just need to put yourself in the lender's shoes for a moment and ask yourself, "Would I lend money to a company that I can't find a physical address for?" or "Would I lend money to a company that answers their mobile phone with your favorite musician's answer tone and is answered in a non-professional manner?". I hope your answer was a resounding "NO!". If not, can I borrow $1,000,000? You can always find me wherever my mobile phone is at the moment. (Get my point?) And, don't forget to get the proper paperwork to go into business and keep these documents current.
Moving on, business checking accounts are a must. Again, this proves stability to your potential lenders. Here are some possible solutions, if you've had checking accounts closed in the past. Pay off the outstanding balance (if any) that's being reported by the bank, or open a checking account at a bank or credit union that doesn't use the ChexSystems credit reporting system. Most credit unions don't use ChexSystems, and you can always find a list of banking institutions in your area that don't use ChexSystems... by simply doing a search on Google, Yahoo or MSN.
Corporate credit ratings are tracked using your business name, business address and employer identification number (EIN). It takes less than five (5) minutes to apply for an EIN at irs.gov, which is the IRS' website.
Next, you'll want to obtain a D-U-N-S number from Dun & Bradstreet, the largest business credit reporting agency. You can apply for this without any fees at dnb.com, which is the Dun & Bradstreet website, and you'll usually receive this number within thirty (30) days. Do not apply for this number until you've prepared yourself thoroughly, because any information you give to them goes into your credit file permanently.
After you've obtained your D-U-N-S number, you're probably ready to start establishing some vendor credit. Vendor credit is where many business owners start establishing business credit ratings. Simply go to staples.com, officemax.com or officedepot.com to get started. Then, you'll also need to fax your business telephone bill and the credit application to them on your business letterhead (which you can create using your favorite word processing software). They usually don't require any personal guarantees (if you've followed the outline above), and you'll usually receive a starting credit line of $750.
Be sure to always pay your invoices before the grace periods begin. This is critical, especially on unsecured credit cards. Dun & Bradstreet issues what's known as a Paydex score (your corporate credit score), and a score of 80 is very good... with 100 being the highest score you can achieve. Your Paydex score is issued once you've established a known vendor/credit relationship with at least five (5) creditors... and it reflects negatively on your credit score if you pay a bill after you've entered in the grace period, and even worse if you pay after the due date.
Again, there are shortcuts that will help you get much more than $750 a lot faster. I've seen hundreds of people start with vendor credit equaling $25,000-$50,000 and open credit lines of $50,000 up to $1,000,000, in as little as 45-90 days, by using a corporate credit expert's knowledge of the application process and "shelf" corporations. In fact, the best corporate credit experts will usually already have "shelf" corporations for sale, with pre-established credit ratings and lines of credit.
In summary, I've given you most of the tools and information you need to obtain corporate credit lines. Are you going to let a "cash crunch" put you out of business? Are you going to try to establish a business credit rating yourself and build your credit slowly? Or, will you utilize the services of a knowledgeable corporate credit expert to establish your credit rating and secure large credit lines overnight? The choice is yours.
Lee Kendrick has been featured on the cover of numerous magazines as a highly respected credit expert, finance professional, and experienced internet marketer. Register for his infamous newsletter at to discover how easy it is to get business lines of credit equal to $250,000 or more... in as little as 45 days... regardless of credit.
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# 177 A Short Guide to Effective Public Speaking
by Stephen D. Boyd, Ph.D., CSP
Delivering an effective presentation to 20 or to 200 people is difficult.
Because listeners have better access to information since the internet became
commonplace, audiences expect more content from speakers today. In
addition, because of the entertainment slant of most media today, audiences want
a presentation delivered with animation, humor, and pizzazz.
If you would rather spend your time preparing your content than reading a book
on public speaking, this is an article especially for you! From my
experiences in delivering over 1500 speeches during the past 20 years, here is a
quick guide to giving an effective and interesting presentation your very first
time.
Begin with something to get the attention of the audience. This might be a
startling statement, statistic, or your own story. Listeners pay close
attention when a person begins with, “Two weeks ago as I was driving to work a
car pulled out in front of me...” You could begin with a current event:
“You might have read in the paper this morning about the flood that...” A
question is another way to make people listen. “How many of you feel our
society spends too much on medical care?” might be a way to begin a presentation
about curbing costs. Whatever technique you use, when you grab the
attention of the audience you are on your way to a successful speech.
Second, be energetic in delivery. Speak with variety in your voice.
Slow down for a dramatic point and speed up to show excitement. Pause
occasionally for effect. Don’t just stand behind the lectern, but move a
step away to make a point. When you are encouraging your audience, take a
step toward them. Gesture to show how big or wide or tall or small an
object is that you are describing. Demonstrate how something works or
looks or moves as you tell about it. Show facial expressions as you speak.
Smile when talking about something pleasant and let your face show other
emotions as you tell about an event or activity. Whatever your movements,
they should have purpose.
Structure your speech. Don’t have more than two or three main points, and
preview in the beginning what those points will be. With each point, have
two or three pieces of support, such as examples, definitions, testimony, or
statistics. Visual aids are important when you want your audience to
understand a process or concept or understand a financial goal. Line
graphs are best for trends. Bar graphs are best for comparisons and pie
graphs are best for showing distribution of percentages.
Tie your points together with transitions. These could be signposts such
as “First,” “Second,” or "Finally." Use an internal summary by
simply including the point you just made and telling what you plan to talk about
next. “Now that we have talked about structure, let’s move on to the use
of stories,” would be an example. When you have an introduction, two or
three main points with support for each, appropriate transitions, and a
conclusion, you will have your speech organized in a way that the audience can
follow you easily.
Tell your own story somewhere in the presentation -- especially in a technical
presentation. Include a personal experience that connects to your speech
content, and the audience will connect with you. You want to help the
audience link emotionally with what you are talking about, and the personal
experience does that. With almost any topic you might choose, you have at
least one “war story” to relate to the topic. When you tell the story,
simply start at the beginning and move chronologically through the narrative,
including answers to the “W” questions: “Who,” What, “When,” "Why," and “Where.”
To add interest and understanding to your speech, include a visual aid. A
visual aid could be an object, a flip chart, a PowerPoint presentation, overhead
projector slides, or a dry erase board. Whatever visual you are using,
make sure everyone can see it. The best way to insure this is to put the
visual where you will be speaking, and then find the seat farthest from it and
determine if you can read the visual from that seat. Introduce the visual
properly rather than simply throwing it at your audience; explain what the
visual will do before you unveil it. Don’t allow the visual to become a
silent demonstration. Keep talking as you show the visual. You are
still the main event and your visual is an aid. Look at your audience, not
your visual. When the visual is not in use, hide it from the
audience. Humans are a curious lot, tending to keep looking at the object
and losing track of the speaker — you!
If you are delivering a persuasive speech, in addition to your own stories
include testimony of experts whom the audience respects and whose views
reinforce your points. Add a key statistic when possible to show the
seriousness of what you are discussing. For example, if I were discussing the
need for improved listening to better serve your customers, I might add
that although we spend half of our communication time in listening, our
listening efficiency is only about 25%. By using stories, testimony, and
statistics in your persuasive talk, you add depth to your evidence.
Look at the audience as you speak. If it is a small audience, you can look
at each person in a short period of time. If it is a large audience, look
at the audience in small “clumps” and move from one clump to another. One
way to insure good eye contact is to look at your audience before you start to
speak. Go to the lectern and pause, smile, look at the audience, and then
speak. This will help you maintain good eye contact throughout your
presentation as well as commanding immediate attention.
One of the ways to have consistently good eye contact is not to read your
speech. Use note cards that have key words on them. The word or
phrase should trigger the thought in your mind and then you can speak it.
If you are including a quotation or complex statistics, reading from your note
card actually lends credibility. If you write out your speech you
will tend to read it and lose eye contact with the audience, as well as not
being as enthusiastic in delivery as when you speak from note cards.
Include a “wow” factor in your speech. Something in your speech should
make your audience think, “Wow!” It could be a story, a dramatic point, an
unusual statistic, or an effective visual that helps the audience understand
immediately. With a “wow” factor, you then have something to look forward
to in the speech that you know will have an impact on your audience.
You’ll become a more enthusiastic speaker because the “wow” factor will get you
as well as your audience pumped for the speech.
Consider using a touch of humor in your speech. Don’t panic at this
suggestion; you are not becoming a comedian but rather lightening up a serious
speech so that people will be more accepting and interested in your ideas.
Humor will help you to be perceived as an amiable person, and it is hard for
people to disagree or be bored if they are smiling at you. Until you have
lots of experience, keep your humor short. Perhaps inject a one-liner or a
quotation. Yogi Berra said a lot of funny things. “You can observe a
lot just by watching” for example. Tell a short embarrassing moment
in your life that you might have thought not funny at the time. Now that
you can laugh at the experience, you understand the old adage, “Humor is simply
tragedy separated by time and space.” Don’t poke fun at your
audience; you should be the object of any shortcoming, showing that you can
laugh at yourself. Avoid long stories or jokes. Even seasoned
speakers know that funny stories soon become unfunny if they go on too long.
Probably the least risky use of humor is a cartoon. The cartoon is
separate from you and if people don’t laugh, you don’t feel responsible. (Be
sure to secure permission to use it.)
Finally, leave the audience with something to think about. People remember
best what you say last. You might summarize your main points, or you might
complete the statement, “What I want you to do as a result of this presentation
is....” But beyond that, make your last words a thought to ponder.
For example, I might end a speech on becoming a better speaker with “As Cicero
said centuries ago, 'The skill to do comes with the doing.'”
A more modern guide to effective public speaking was penned by some unknown
sage: "Know your stuff. Know whom you are stuffing. Know when
they are stuffed."
One never becomes a “perfect” speaker; developing public speaking skills is a
life-long experience. But the points discussed here will get you started
in becoming the speaker you want to be and the speaker your audience wants to
hear.
Stephen D. Boyd, Ph.D., CSP, is a professor of speech communication at
Northern Kentucky University in Highland Heights, Kentucky. He is also a
trainer in communication who presents more than 60 seminars and workshops a year
to corporations and associations. See additional articles and resources at
http://www.sboyd.com. He can be reached at
800-727-6520 or at info@sboyd.com.
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# 62 Imitation: The Sincerest Form of Flattery
Unless you are an inventor, most likely you are selling a product or service that is being offered by someone else,
somewhere, at some time. The first person to start your type of business would have gone through a lot of trial and
error. Thank that person, as now you can not only profit by not repeating the same mistakes, but by learning what they
do to get business.
The best way to do this is to practice what any businessperson knows: know your competition. The most
beneficial thing you can do is to study what they are doing
to attract customers.
Go online, do a search, pull up the web sites of your competition, and start taking notes. Here are some things to
look for.
* What do you like about their web site?
* How can they improve upon it?
* Is it user-friendly and easy to understand?
* Is it too wordy or complicated?
* Could someone browsing this web site learn quickly what
this business actually does?
* Does their web site move too slowly, due to an
over-emphasis on graphics that sacrifices the actual
message?
With your notes, you can begin to set up the key points that you feel your target audience needs to know about your
product or service, and why it will benefit them to do business with you.
Look at these different web sites and read the headline.
* Does it draw you in?
* Do you care to read more?
* Do you feel intrigued, or more than a little confused?
If you find one you like, there is nothing wrong with re-wording it to fit your business. Remember that we are
talking about imitation, not plagiarism.
It has been said that there is nothing new under the sun. While this may be the case, at least give what your company
is offering a unique slant, and make an effort to provide it in a more informative and interesting format than what your
competition is doing.
====Side Bar====
This "unique slant", often called the "Unique Selling Proposition (USP)", opens the door for effective competition
among businesses selling a similar product -- even the same product.
Rosser Reeves was the first to coin the phrase Unique Selling Proposition in his book "Reality of Advertising",
published in 1961.
Here's Reeves' 3 part definition of USP:
1. Each advertisement must make a proposition to the consumer.
2. The proposition must be one that the competition either cannot, or does not offer. It must be unique--either a
uniqueness of the brand or a claim not otherwise made in that particular field of advertising.
3. The proposition must be so strong that it can move the mass millions.
====Side Bar====
Try to look at your competition with fresh eyes. Treat what they have to say as if it is the first time you have seen
this information, because that may be the case for your target audience. Make a list of the questions that come to
mind, or points that you feel you would want more information on, if you were in the shoes of your audience.
Even what your competition does wrong with the information they do or do not provide can be instructive. It serves to
get you to think of all the things that you can do to sell the service better. You are building the structure of your
business on what someone else has done before you, but improving the end product by going the extra distance in
covering the whole story in a clear manner.
Now that is smart business.
========
David Geer's Success 4U Marketing helps small business owners discover how to market any product or service
online – quickly ... easily ... profitably ... successfully.
http://www.cashflowseller.com/
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# 184 A Practical Point of View
By Stephen D. Boyd
Often managers have to deliver presentations with unpleasant content. The
vice president has to announce that there is a hiring freeze or a downsizing.
The human resource director speaks to the employees about a benefits package
with fewer benefits. Because executives are often speaking in difficult
situations, the more credibility they can develop, the more the content will be
considered and accepted. Speakers will have little or no impact on
audiences if audience members don’t respect them and what they have to say.
What makes us trust a speaker or believe that he or she is a reliable source?
Whom can we trust to have our best interests at heart? Let’s look at some
practical ways a speaker can maintain and enhance credibility.
Act in ways consistent with the message of the presentation. This can be
as simple as showing concern in tone of voice and facial expression when talking
about an issue that is facing the company. Acting disinterested or
unconcerned when presenting bad news can offend your listeners. Showing
enthusiasm in delivery by quicker movements, more variety, and a faster rate of
speech when reading an exciting climax of a positive presentation can produce
the same enthusiasm in your audience.
A student began a persuasive speech by spreading garbage out on a table.
She said, "What do all of these pieces of trash have in common? They can
all be recycled." She gave a good speech on the need for recycling
and how to set up community recycling programs. She finished to a nice
round of applause; then she gathered up all of the recyclables from the
table--and threw them away in the wastebasket in the corner. She obviously
didn't understand the need for speakers to act in ways consistent with their
messages in order to maintain credibility.
Good preparation is an ethical requirement as well as a practical one. Your
audience has given you time and an opportunity, and audience members deserve to
hear your best effort. That only comes through careful preparation.
If the audience can tell you didn't prepare for them specifically, they will
feel betrayed and won't respond positively to your message. Thus the
executive should start preparing several days or weeks before an important
presentation is delivered. It is hard to cram for a speech, and the
audience can tell when preparation has not been adequate.
Show respect for your audience. Don't insult your audience in any way.
Racial slurs and profanity are obviously unethical, but in addition, don't show
disrespect for people's gender, backgrounds, positions, appearances, or
nationalities. Don't put people down because of their lack of knowledge of
a topic; sometimes their lack of information is the very reason you have been
asked to speak. Don't embarrass any member of your audience. Don't
play a joke on anyone without seeking permission first. Even if you do
receive permission, playing a joke on an audience member can backfire because
the rest of your group might become fearful they will bear the brunt of your
next joke, causing them to lose trust in you. Poke fun at yourself
instead.
Base your conclusions in your presentation on clear evidence. Support your
assertions with relevant facts, statistics, and testimony. Keep track of
your sources and be ready to produce them if an audience member has a question.
Don't make assertions you can't support or justify. Perelman and
Olbrechts-Tyteca write in their book, The New Rhetoric: A Treatise on
Argumentation, that whatever support you use should be able to satisfy the
"universal audience"--that group of all reasonable, rational people.
In your outline each major point should show a variety of evidence. If
that is not the case, then eliminate the point or, if it fits, place the
evidence with another point you are making.
Choose topics that are consistent with your personal beliefs. Pick topics
important to you that you live out on a daily basis. You might be able to
craft effective speeches advocating views you do not agree with, but you will be
much more effective and ethical if you advocate opinions you actually hold.
If you advocate a position which is not something you feel completely
comfortable with, this will be communicated to your audience by your delivery
style. In choosing material for your presentation, one major criterion is
how strongly you feel about the point or support. This is an excellent way
to cut out materials when you have more content than time allotted.
Respect the time of your audience. Know what time you are expected to
finish--and finish at that time. It is an insult to your audience members
and an abuse of your opportunity to speak to keep them ten, fifteen, or thirty
minutes more than what is expected of you.
History gives us a good example of the power of an actual presentation to create
credibility. The year was 1952, and Dwight Eisenhower was running for
president with Richard Nixon as his vice-presidential candidate. Charges
surfaced, however, that Nixon had illegally used some campaign contributions,
and Eisenhower considered dropping Nixon from the ticket. In what became
known as the "Checkers Speech," Nixon defended himself in a 30-minute,
nationally televised speech. With his wife Pat sitting in the background,
he defended his ethics, at one point holding up a piece of paper he claimed was
the result of an audit of his books finding him blameless. Nixon did
admit, however, that some supporters had given his children a dog. He said
the kids had named the dog "Checkers," and no matter what anyone said, he wasn't
going to let them take that dog away. He concluded by asking people to
telegraph or mail to the Republican National Committee their opinion of whether
or not he should continue to run with Eisenhower. The overwhelmingly
positive response assured his place in the campaign. Who knows how much of
American history for the next twenty years was changed because of a little dog
and a presentation that convinced people of Richard M. Nixon's credibility.
All of these ethical principles can be condensed to one, a "golden rule" of
speaking ethics: Treat each audience member as you would like to be
treated if you were in your audience.
Stephen D. Boyd, Ph.D., CSP, is a professor of speech communication at Northern
Kentucky University in Highland Heights, Kentucky. He is also a trainer
who presents communication seminars and workshops to corporations and
associations. See additional articles and resources at
http://www.sboyd.com. He can be reached at 800-727-6520 or at info@sboyd.com.
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# 369 OUTSOURCING: An Overview
Businesses of all kinds can and do benefit from the tool of outsourcing every
day. Businesses large and small have been outsourcing every day projects for
many years. The businesses that use outsourcing as a tool to enhance and grow
their business already know the value that outsourcing brings to their
organization. Outsourcing is a business process term for what has literally
become known as hiring a consultant, independent contractor, or freelancer to do
a specific task or tasks for an organization in which the organization either
does not have the time or the expertise to do on their own. The organizations
that have used outsourcing for many years know that with the positives it brings
to the organization that it is also important to have a well managed plan of
action for hiring a consultant or contractor for a business task. This includes
deciding which projects or tasks to outsource, whom to hire for these tasks, how
to manage the project, how to agree on payment terms, and how to achieve the
desired results.
There are many forms of outsourcing ranging from outsourcing
payroll to outsourcing package handling, to everything in between. Small
businesses hiring a self-employed accountant to handle the corporate tax returns
are in essence hiring a tax consultant. Large corporations that hire outside
customer service firms to handle their customer support are outsourcing that
function of their business to focus more on their core business functions. It is
entirely possible to outsource practically every business process within an
organization.
OUTSOURCING TOOLS
There are a wealth of tools available for the organization looking to outsource
business processes. Companies such as SmartyLance.com, enable a business to post
a project to a project marketplace and receive bids from experts in the field.
These type of freelance sites match companies with freelance professionals,
consultants, and independent contractors. There are many advantages for a
business to use services such as SmartyLance.
First, the marketplace enables businesses to use a centralized location to post
their project, receive bids on that project, communicate with potential
providers, choose a winning bid (either based on lowest cost or based on the
credentials, expertise, or prior feedback of a particular provider), manage the
project specifications, receive the delivered project and make final payment
based on the terms of the auction. This centralized marketplace provided by
SmartyLance greatly streamlines the entire outsourcing process and enables the
business owner or manager to have greater control over the entire outsourcing
process.
INCREASING COMPETITION
Competition is a complicated subject for many people. Ultimately, competition is
good for the consumer, whether the consumer is an individual or a business,
competition enables products and services to maintain high quality and low cost.
Although many people dislike competition because it forces action to improve
quality, the benefits to the overall economy even result in improved products
and services for the very people that dismiss competition and the headaches it
sometimes brings. Freelance marketplaces such as SmartyLance are no exception in
that competition improves the overall quality and value for the project buyer
and causes the freelance provider to adjust to market conditions in a practical,
intelligent manner to win new business. The benefits to the company looking to
hire freelancers are obvious.
For example, Company A can compile a list of
consultants to work on the design of their new company logo. This list may
include a multitude of design firms from the same geographical area. Company A
would be required to submit an RFP by contacting each design firm individually,
stating the requirements of their project and requesting a quote based on the
requirements. Many factors come into play in deciding which design firm Company
A will choose. Chances are, that using this approach, Company A will end up
paying too much for the project and will only have a handful of providers to
choose from. Company B also must outsource the design of their new company logo.
Rather than compile lists of design firms, which can result in overpriced
quotes, Company B decides to post their logo design project to the SmartyLance
marketplace. Doing so enables Company B to get competitive bids that help ensure
that Company B gets the most competitive price for their project. By posting the
logo design project to SmartyLance, Company B not only reduced costs associated
with the project, they had access to specialists and skilled professional
designers from around the world that were competing to give Company B the best
cost and highest quality design for their money. The entire process was managed
easily through Company B’s SmartyLance account enabling them to keep in contact,
manage project specifications, manage competing bids, and send payment easily
and securely through one of several different payment methods. An escrow account
enabled Company B to ensure that payment wasn’t released to the provider until
all project requirements were met. Company B successfully outsourced the logo
design project and was able to save several hundred dollars. They also received
the project several days quicker than Company A. In this example of Company A
and Company B, we see that Company A had limited its ability to find a skilled
professional and limited its ability to save money on the project. Company B
took full advantage of all the resources and benefits of the SmartyLance
marketplace and was able to save time and money. By outsourcing critical
business functions that are not core business functions, the organization
greatly benefits through a savings of time and money which in turn benefits us
all through decreasing costs that are passed down to the consumer.
TO OUTSOURCE OR NOT TO OUTSOURCE?
That is the question many small business owners and large corporations alike
are asking themselves each and every day. Risks are inherent in any new business
strategy or thought process. However, like any business decision, risk can be
managed. By intelligently choosing a provider that matches your intended skill
requirements, carefully detailing and outlining your project requirements, and
ensuring that you maintain the requirements within budget, the benefits can far
outweigh the risks. One of the more common fears among some larger organizations
that may be reluctant to outsource projects is a fear of the unknown. This fear
stems from the inherent inability to oversee each and every aspect of the
project from start to finish and to evaluate each step along the way.
Internal employees devoted to a project are more easily evaluated and can be
guided through performance and work appraisals. Managers may feel that
outsourced projects are more difficult to oversee and manage with an eagle eye.
The fact of the matter is that so long as there are well-defined contractual
obligations and project reporting requirements, an outsourced project can in
fact result in a more manageable outcome than actually thought. Also, the talent
pool and skills obtained that may be completely unavailable to the organization
allow the organization to reach milestones and achieve success that may never
have been possible with their current employees.
OUTSOURCING CONTROVERSY:
The outsourcing controversy that is making headlines today is the public opinion
of outsourcing jobs to other countries. This includes manufacturing of products,
such as those that are “Made In China” as well as service outsourcing such as
computer programming that is outsourced to skilled workers in India. One can
argue that outsourcing projects overseas is taking opportunity away from workers
in their native country.
Others may contend that outsourcing projects, whether it’s overseas or in the
same country is a great opportunity that will improve business processes,
improve productivity, reduce costs and have an overall positive effect on the
economy, thus creating more new jobs and specialized jobs in specific skill
areas. All businesses are consistently looking for ways to increase productivity
and lower costs. From an economic standpoint, increasing productivity and
lowering costs are essential elements for business success. Business success, in
turn leads to more growth, which leads to new job creation, be it in a more
specialized skill area or through the development in new types of jobs in new
specialized areas.
OUTSOURCED BUSINESS PROCESSES
As mentioned previously, practically any business process not related to the
core business activity can be outsourced. Some examples of commonly outsourced
business processes include:
Accounting and Finance
Graphic Design & Multimedia
Sales and Telemarketing
Web Design and Development
Administrative Support and Data Entry
Business Strategy, Advertising, Business Plans, Consulting Legal, Contracts,
Copyright, Corporate, Incorporation Software and Technology, Database
Development Writing and Translation, Copy Writing, Creative Writing Press
Releases
A REWARDING CAREER
Having a specialty or skill in a particular business area can enable you to
begin a career as a consultant or freelancer. Freelancing enables you to have
the flexibility to work on your own and on your own schedule. You can choose
which projects match your skill set and decide which types of freelance projects
that you would be interested in working on. There are numerous sources available
to find freelance work. Some sources include browsing freelance directories, job
boards, and registering with talent auction sites such as SmartyLance. All of
these resources are filled with potential jobs. In comparison, it seems that
talent auctions are the most comprehensive resources offering the most
flexibility to both the freelancer and the company hiring a freelancer. They
offer the breadth and depth of listings and the simplicity to bid on numerous
projects as well as services enabling the handling of the entire payment process
through a service provider account with the talent auction site. Bidding on
projects requires much discipline and planning. Before placing a bid or giving a
quote on a project, the freelancer must take into account many factors including
the length of time required for the project completion, the budget the service
buyer can afford, and whether or not they can actually meet the requirements to
complete the project. It is also important to keep in mind that developing
relationships with service buyers can lead to more work in the future.
Developing a relationship with service buyers and meeting or exceeding their
project expectations will enable you to develop a client base that allows you to
practically always have new projects to work on.
COMPETITION FOR PROJECTS
There will always be competition in all forms of business. Competition for
freelance projects is fierce. One of the major ways to compete and win is to
make yourself stand out from the rest of the crowd. You can start by fine tuning
your resume. This will force you to think about your accomplishments as well as
your exact skills and abilities. There are numerous services that can help you
with your resume, including ResumeEdge. Using a service to help you with your
resume will enable you to better explain your accomplishments and present them
in a manner that will captivate and impress the reader. Especially if you are an
independent freelancer, having your resume retooled by ResumeEdge will allow you
to stand out in a crowded marketplace. Many freelance service buyers will wish
to see a list of your accomplishments and your skills.
If you register as a service provider with a freelance marketplace such as
SmartyLance, they offer several different options that enable you to stand out
above the crowd. First, there are different subscription levels when
registering. There is a Limited subscription, a Novice subscription or a
Professional subscription. Each higher level subscription offers more options to
the service provider. Every service provider does have the ability to post a
profile, detailing various information about their abilities. Limited
subscriptions limit the cost range in which a service provider can bid. For
example, a Limited service provider can only bid on projects with a price range
less than one thousand dollars. Novice subscription service providers can bid on
projects less than five thousand dollars, and Professional subscription service
providers can bid on any service level project. Several added bonuses with the
Novice and Professional subscription levels include the ability to purchase
credential verification services as well as the ability to post “Buy Now”
projects. Credential verification services enable you to post information
related to your references, certifications, licenses, education and previous
employment. Simply adding these options to your account gives you a special
designation stating that your information has been checked and verified as being
true and accurate by the freelance marketplace.
This designation gives you an added level of credibility making you stand out
from the rest of the service providers and enabling you to showcase your
achievements and abilities, giving a service buyer confidence in choosing you to
complete their project. This will undoubtedly lead to more work and more
projects coming your way. In addition to verifying your credentials, you have
the ability to showcase a portfolio of your previous work. This allows you to
show the service buyers your achievements and your successes with previous
clients. Showcasing your portfolio is another important aspect that gives the
service buyer confidence in your ability. Finally, the higher level
subscriptions enable you as a service provider to offer “Buy Now” solutions.
Similar to purchasing products immediately without bidding as on major product
auctions such as eBay, “Buy Now” solutions enable freelance service providers
and consultants to make a solution available to all service buyers for a
specific set price. For example, a freelance graphic design firm may create a
“Corporate Identity Package”, enabling a service buyer to purchase this package
that may include the graphic design of a logo, along with designs for
letterhead, business cards, and banner ads. Another example could be from a
lawyer or legal consultant who creates an incorporation package that includes
corporate setup and incorporation services for all fifty states, creation of
shareholder agreements, employment agreements, and registered agent services all
for a set price.
These simple examples of “Buy Now” services enable freelance consultants and
independent contractors to create easy options for service buyers who are
looking for simple solutions and quick turnaround time. Service providers also
enjoy creating these type of services because it enables them to focus on their
core interests and abilities. Only higher level subscriptions such as the Novice
or Limited subscriptions enable freelance service providers to post “Buy Now”
projects. The beauty of these additional options as a freelance service provider
is that you can focus on one specific aspect of your business. If you are a
consultant for a graphic design firm and you simply enjoy creating and designing
corporate logos and identities, then you can find work specifically in this area
by posting your own “Buy Now” solution. If you are a lawyer working for your own
legal firm and your passion is new business setups and incorporation services,
then you can steer projects your way with a “Buy Now” solution posted on a
freelance marketplace like SmartyLance.
CONCLUSION
These are only a few examples of the many opportunities that exist as a
freelancer. Whether you are a small business, an individual, or a large
corporation, this article simply serves as a guide to help you in your quest to
use outsourcing to your advantage to help your business grow and flourish.
Outsourcing, when done correctly, can benefit your business in so many different
ways. The two most obvious benefits are a savings of time and money. From the
freelancer’s standpoint, this article has been developed to help educate and
guide you with the many options available to find work as well as to delve into
the minds of freelance service buyers.
Knowing their concerns and understanding the reasons for choosing one service
provider over another will greatly benefit you by enabling you to increase your
odds for getting new business. Understanding the concerns and needs of service
buyers will lead to your gains as a service provider.
If you are able to provide enough people with services that they wish to have,
then you will always be in demand.
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