Common Myths About Starting Your Own Business (Part 1)

Businessman making moneyStarting your own business makes you more vulnerable financially. When you have a steady job with a regular paycheck, it’s tempting to thinking that the entrepreneurial route is much riskier. While there is a certain amount of truth in this, the brutal facts of today’s economy is that no employee is 100% secure in a salaried position. Even high-level executives are only a “you’re fired” away from having to look elsewhere. As an entrepreneur, you do assume more risk, but you also assume a much greater amount of control, so much that it often puts you in a more secure position than working as an employee. Also, being the head of your own company allows you to move the company’s money around, meaning that you can grow your business during the good times and shift more revenue into salaries during lean times, a luxury that employees never have.

Starting your own business is prohibitively expensive. Although it’s certainly true that some large enterprises require enormous amounts of start-up funding, an often overlooked fact is that many others do not. In today’s internet age, starting a company costs about $10/year to register a domain name and about $100/year for basic hosting services. From there, you can build using your initial revenue, not your investor’s pocketbook. This model works especially well for blogs and information-based products that have no overhead such as printing, manufacturing, or shipping. You can begin selling your knowledge as an eBook or blog post today, using advertising or paid subscriptions for revenue, and then use your revenue to print physical books down the road to sell on your store, so to speak. You can even add Amazon products to your store via the Amazon affiliate program, and start making money immediately for selling other people’s products.

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Why You’re Not Getting That Job (Part 2)

CV and resumeCNN recently offered a special report on small mistakes that can lead to big losses in your job search. Here is a selected review inspired by their most helpful tips:

4. Are you focusing on the company, or on yourself? Address your cover letter to your prospective employer by focusing on what the company needs and how you can offer it. Many applicants make the mistake of focusing on themselves and what they stand to gain. As in any relationship, coming off narcissistic can be a deal breaker.

5. Are you tracking your own accomplishments? In order to stay successful throughout your career, you must think ahead by keeping your resume well-maintained and up-to-date. Each time you receive an award or commendation, be sure to add it quickly and thoroughly to your resume. Otherwise, it can be very difficult to remember all your accomplishments down the road.

6. Professional contact information. Make sure you give your prospective employer the most accessible and professional way to reach you. Have a professional email address and a clear, professional voicemail outgoing message. Whatever you do, do not give out your phone number at your current place of employment. That shows that you are taking paid time out of your current job to look for work, which is very unprofessional.

7. Asking questions. When an interviewer gives you an opportunity to ask questions, take advantage of it. Saying you don’t have any questions about your potential job communicates a lack of interest. Your interview should not come off as disinterested or perfunctory. Make sure your interviewer sees how engaged you are and how much you care.

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Why You’re Not Getting That Job (Part 1)

Job ApplicationCNN recently offered a special report on small mistakes that can lead to big losses in your job search. Here is a selected review inspired by their most helpful tips:

1. Proofread for typos! Rarely is your cost to benefit ratio so steep as it is when proofreading for typos. It only takes a second to create a typographical error, and only a minute to identify and correct it, but if you leave typos and misspellings in your professional documents, the effects can last a lifetime. Your cover letter and resume are the portal through which potential employees get to know you. Typos are the fastest way to close a door, even before it fully opens.

2. Presentation. Most companies make their policies regarding dress code and professional presentation very clear. If you want to seal the deal, you need to look like you already work for you prospective employer. You interviewer is trying to imagine you in the job you’re applying for, and you need to make his or her job easier by looking like you’ve already got it. Similarly, give the same amount of attention to your documents that you give to your dress and coiffure. High-quality resume paper and professional-looking formatting don’t require a lot of extra time and money, but they can pay off big.

3. Speaking badly about a former boss. This advice applies to business as much as it does to dating. Just like speaking badly about an ex on a first date can be off-putting (“Is that how he/she is going to talk about me if we break up?” your date is probably thinking), badmouthing a previous employer can leave your interviewer wondering how you will represent their company if and when you leave.

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The Ins And Outs Of Dating Your Coworkers

romantic office placeWhile most people warn to avoid dating your co-workers like the plague, a recent survey from Glamour shows that almost 41% of Americans have been involved in some sort of romantic relationship with a co-worker. This high number is understandable – after spending so much time with your co-workers, it’s only natural that you find you have a lot in common.

If you find that you’ve hopelessly fallen for one of your co-workers, it’s possible to make a relationship work out. So long as your love interest works at the same level as you (aka no supervisors or underlings), it’s legal for you to date. Although it may be difficult to disguise your relationship in the office place, it’s important to draw a sharp line between your life in the office and your life outside of it. Not only will this prevent other co-workers from gossiping, it will make things easier should you break up.

If your paramour is a supervisor or an underling on the other hand, it’s a whole different story. Many company codes prohibit dating somebody at a lower or higher level than you because it creates a conflict of interest. Even if you don’t think you’re giving preferential treatment to your significant other, other workers may take it that way and become disgruntled. Another problem commonly run in to is the risk of sexual harassment claims – if the couple breaks up, the underling may claim sexual harassment regardless of its veracity. Since there’s no way to prove that your significant other didn’t just succumb to your advances in order to keep his or her job, cases such as these usually end with the underling walking away with a huge chunk of money, not to mention your professional reputation.

If you’re determined to date a co-worker, you need to be absolutely sure that you can both keep your professionalism around each other regardless of your personal situation. Ideally, it will lead to a healthy, long-term relationship. Be sure to confirm that this is the end goal for the both of you before putting yourself in a situation that could easily damage your professional life.

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The Dangers Of Overdependence

Older worker mentoring younger workerWithin an office environment, there are many types of relationships. There are the bosses that you can barely stand to sit through a meeting with, and those whom you don’t know what you would do without. If you’re particularly close to one of your superiors, stop and consider whether he or she is a mentor or a crutch. A mentor is somebody who will help you to succeed based on your own merits; whereas a crutch tries to help you by taking care of things that you feel unconfident about. If you find that you have a friend who you go to for help with every little problem, you may be hurting your career by your overdependence.

If you think you’re overdependant on one of your co-workers but don’t want to hurt his or her feelings by pulling away from their offers of help, try weaning yourself away slowly. Pick one of your current projects and stop asking your friend for advice with it. If you find yourself truly stuck, reach out to somebody else in the office. In this way, you can discuss less and less work-related issues with him or her and instead focus on your outside-of-work friendship.

If your crutch notices you pulling away from his or her work-related assistance, explain that you feel like you’re ready to try projects on your own, thanks to his or her previous guidance. Be sure to make it explicit that you’re very grateful for his or her help – you don’t want him or her to think that you’re pulling away out of malice.

Once you liberate yourself from your dependence on a crutch, you may find that your job suddenly gets a lot harder. It may be difficult at first, but if you hope to continue advancing your career, you need to prove that you can excel at the job you’ve got without any support, for there’s certain to be even less the higher up you go.

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Working While Pregnant

Pregnant woman smilingIf you’ve been trying to have a child, finding out that you’re pregnant is a great feeling. Unluckily, it may provoke some less-than-ecstatic feelings in your co-workers. Whether they assume that you’ll turn in to a weepy bundle of pregnancy stereotypes or are worried about having to cover for you during attacks of morning sickness, it’s important to manage your pregnancy such as not to put any undue burden on your co-workers and boss.

If your wishes and health allows you to continue working through the majority of your pregnancy, do your homework on the options available to you. Go over the company’s maternity leave policy and decide when you want to leave and return in advance – this way you can time your departure to create the smallest possible ripple as well as give your boss plenty of time to find and train a replacement.

While you’re still working, you must make it absolutely clear how large and how challenging you expect your assignments to be. If you find yourself struggling with your regular job, ask your boss if you can temporarily transfer to a less challenging position. She or he would rather have you doing well in a lower position than putting out shoddy work in your current one. If you feel that you can perform as well as ever despite your pregnancy, make sure your boss and co-workers know that you don’t expect to be treated any differently. Although you may think this should go without saying, many people will subconsciously treat you as though you’re less competent unless you make it clear that your pregnancy will not affect your performance at work.

When you’re ready to have your baby, the right preparations can ensure that you will be able to relax and enjoy this time without worrying about how it will affect your prospects at work. Enjoy it!

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Turning Your Review Into A Raise

raise in payIt’s been a productive 2011 for you, and your performance review was all congratulations and slaps on the back. But did you come out of that office with a promotion, bonus, or raise? If not any of the above, here’s how to turn those congratulations to cold hard cash.

Before you walk in to your boss’s office, make a list of all new things you would like to take on in the new year. Don’t be afraid to be ambitious – if you see a project that needs a new manager, write it down and be prepared to explain how your 2011 performance qualifies you for the job. If there are no openings that you can see, pick a couple areas of interest and come up with some projects that you could spearhead on your own.

When you ask for your promotion, raise, or bonus, don’t use your 2011 performance as justification. The raise should not be a reward for good behavior, but compensation for the additional work you will take on in 2012 that your work in 2011 has qualified you for.  And don’t be afraid to ask – once you’ve secured some additional responsibility in the office, it will feel natural to ask for your compensation to be raised to reflect your additional duties.

If your office is strapped for cash or otherwise can’t offer you any additional monetary compensation, don’t drop your bargaining chip entirely. Suggest that instead of money the company could offer you more vacation days or a bigger office. Whatever you do, don’t let your employer increase your workload without some type of compensation. Being seen as a pushover will set a negative precedent for raises or bonuses to come.

Even if you don’t leave the meeting with a new nameplate and the corner office, don’t be discouraged. Whatever new responsibilities you have been assigned will give you a great way to further your case for a promotion in 2013.

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What We Can Learn From Margaret Thatcher

parliament house, LondonIf you haven’t already seen it, The Iron Lady, a film about the life of Margaret Thatcher, came out in theaters at the end of December. The biopic tells the story of her life from young adulthood to her eventual decline into dementia. Margaret Thatcher’s transformation from a young idealist into one of the most powerful figures of the 20th century is an example that many working women today continue to emulate.

When Mrs. Thatcher decided to run for leader of the conservative party, her advisers changed everything about her except her pearls – from her manner of speaking to her dress and the way she carried herself – to more closely resemble that of a man.

While Mrs. Thatcher did what she had to do to get elected in the male-dominated political system of the time, is it healthy that so many women continue to follow her power-suited example?

Margaret Thatcher was able to take power of a masculine political world by becoming more masculine herself, under the guise of sounding and appearing more “powerful.” Power on its own is not a gendered word, yet many insist on treating it as such. For women on their way up the corporate ladder, The Iron Lady is a good reminder of the dangers of accepting a masculine definition of the word. Mrs. Thatcher always wore her pearls and carried her handbag, reminding women everywhere of the power of a feminine touch. In today’s world, women may carry their femininity in to the office place by more than just a string of pearls, and, like Margaret Thatcher, change the paradigm of what it means to be a powerful woman.

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Alternative To PowerPoint

Meeting Room with ScreenEvery day, the average worker sees 1,387,469,000 PowerPoint presentations. Okay, maybe we’re exaggerating, but the number is high enough to send even the most caffeinated among us in to a sleepy haze by the end of the day. Nobody really loves PowerPoint, but is there another way to give a presentation requiring numbers and figures? We think yes.

If you’re ready to get rid of all electronic aid in your presentations, consider just standing up and giving them. Although it will test your public speaking skills not having documents to fall back on, your boss and co-workers will be impressed that you know your material well enough to present without any sort of aid. If you’re not quite ready for such extreme measures, try using an old-fashioned handout. They worked for years before computers were invented, so why not now? Another bonus of using handouts is that your audience can take notes directly on your facts and figures, making note-taking much quicker and simpler.

If you feel that you still need some electronic aid but want to escape from the boxy dimensions of Microsoft PowerPoint, there are a host of websites that offer sleek, sophisticated alternatives. A perennial favorite of ours is Prezi (online at prezi.com), which works more like a huge blackboard than a slideshow. It’s great for visually linking concepts and ideas, and supports a whole host of media styles beyond plain old text and graphs.

Whether you choose to go completely cold turkey or just change your poison, one thing is for certain: walking in to a conference room without your trusty clicker in tow will grab everyone’s attention.

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Refresh Your Job Search

Your new careerIf you’re feeling discouraged in your search for a new job, the new year can be a great time to relax, recharge, and refresh your vision and goals for the coming months. If you put your job search aside during the holidays, coming back to it now will give you a fresh perspective and renewed energy for the task at hand. If you didn’t take a break over the holidays, consider taking one now. Even a few days of rest will help you reset for a renewed effort at finding a job.

When you’re ready to get back to the hunt, start by evaluating what you’ve been doing for the past few months of searching and decide what’s been working and what hasn’t. Throw the methods that haven’t worked for you out the window, and resolve to focus more on finding new techniques and developing the old ones that are still working.

Before you start concentrating on the methods of your hunt, however, take some time to think about your goals. Are you still chasing after the dream job you had in mind when your job search began? If not, think about why you’re now prepared to settle for a lesser job. Is it a matter of money? Try taking on some contract work to get you through the coming months. A matter of experience? You may need to take some classes or set your sights on a lower-ranking job that will groom you for the one you really want. Write down what steps you need to take to achieve your dream job so that you know the purpose of all that you’ll be doing in the coming year.

Finally, remember that there’s a difference between accepting a job because there’s nothing better and accepting a job because it’s a rung on the ladder to your ultimate goal. Even if it’s the bottom rung, whatever job you get will help to give you the experience and knowledge to achieve your career-related goals.

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