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Who to Hire?

With many people searching for a career, your company may become flooded with applications. When sifting through the applicants, keep in mind how different personalities and ages function in a work environment. Here are a few things that can help you know who to hire.

Experience level. The first thing to know when looking to hire is to know what level of experience the job requires. Don’t be afraid to think outside the box on this note. While you could hire someone with years of experience, how much better will their productivity be in the long run? Can a dedicated worker with little experience in this field quickly grasp what needs to be learned? If so, a person with less experience but a better work ethic may be a better fit.

Energy level and personality. Do you need an outgoing and extremely friendly person? What about someone who is detail-oriented? An outgoing person is likely to bond well with customers and other employees, but may be less productive due to being more talkative. On the other hand, a more introverted person may be less engaging, but will quietly and thoroughly complete their work on time. The nature of a job may also require a different personality. A calm personality may be better for some jobs, such as a receptionist (especially at a medical office), while a more boisterous person would fit an office in the construction industry.

Pay Scale. A younger worker is much more likely to accept a job for a smaller salary than person who has a family to provide for. A younger person may also have the flexibility to travel that an older person would find difficult with other commitments. However, less experience may mean a few more mistakes, but if a person is dedicated, they will quickly overcome these to be your most energetic and experienced members. You may also need to consider the cost of relocating for some applicants and decide if you want to hire someone who will have to uproot and move, or if a local community member would be a better fit.

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Beginning a Small Business

When beginning a company, getting connected will help you survive the first few years, which are some of the most trying years. Once you have created a solid and convincing business plan, a community that believes in your reputation is the key to success.

Create a Business Plan. When beginning the journey to starting your own company, it always begins with a business plan. This is a plan that will show investors why they should support, tell employees why they should work for you, and tell customers why they should hire you. In your plan, you should include what funds you would need to begin, what you will aim to accomplish I your first year or so, and what ideas you have for growth later down the road.

Find partners and supporters. The next step is finding people who will work with you and support you, whether through financing or ideas. This is important because this is the beginning of you actually working. A good place to begin is with your friends and family, asking them for references and referrals. This will give you good experience to begin your work with. Once you have a group behind you, you can begin seeking out your first job. Note that the work may come in slow for a while, and be prepared for that. However, as you offer good services to your customers, your reputation will take root and grow.

Continue networking. Even if you feel encouraged with the progress you have been making, do not slack off on making even more connections. If you that many customers are coming from the same area or industry, consider tailoring your company for their needs for a little, being careful to not alienate yourself from other groups at the same time. While cold calls can difficult, they may be a good idea for letting companies know you are now around. You may also want to consider putting an ad in the paper or in the yellow book, or sending out a postcard with your information. All are great ways to begin your company.

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Delegating Work in a Small Business

You cannot do everything yourself, so learn what you should do yourself, and what you should delegate or hire out.

Delegate the fluff. You have better things to do than file loose papers. Hire a part-time assistant to take care of things in the office so that you can focus on growing the company. This could include simple things like cleaning the office, retrieving the mail, and filing the papers. The longer you have a worker, the more you can rely on them to create files, crunch numbers, and contact customers. Having this extra help may benefit your company in the long run because it leaves you free to do what you do best.

Keep your strengths.  Good at the networking and sales, but bad at the finances? You will actually be losing income if you waste your time doing something you aren’t good at instead of directing another worker towards the task. Earmark the things you are best at, as these are the things that will keep your company going. If you are the best at sales because of your personality, keep that job for yourself. If you a great at customer service, don’t delegate it. Also keep in mind the things that only you can do in the office. While your other employees could make some calls for you, they can’t create the estimate you are working on, so put that at the top of your to-do list, and if you run out of time, add the things you couldn’t reach to things you need your employees to cover.

Hire out for the big office work. Taxes are one of those things that you may not be good at or may not have time to do, but which absolutely cannot be put off. Instead of trying to do it yourself or pawning it on your part-time workers, hire an agency. It is worth the peace of mind and the lack of hassle.

Owning a small business is stressful enough—these are some ways you can reduce your stress and workload so that you and your company can thrive.

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Networking in the Construction Business

Finding general contractors. General contractors are companies that oversee the entire construction of a building, from breaking ground to dry wall. Because of this, a considerable amount of work you will be doing will be for general contractors, not direct land owners. When looking for new construction or remodeling projects to bid, a good place to start is the general contractors in your area. Once you have worked with them a few times and they gain familiarity and trust with you, you may have a better chance of getting the bid.

Good connections with your suppliers. You cannot offer the lowest prices to your customers if you are not receiving the lowest price on your materials from your supplier. This is why good relationships with suppliers is key to success in the construction business. As supplier get to know you and know that you pay their invoices on time and are offering them a steady stream of purchases, they will not only become more pleasant to deal with, but are more likely to help you find the best item for the best price. This is because they also want you to receive the bid you are working on—it means they get some business! To maintain good relationships with these suppliers, it is absolutely crucial to always pay on time for any statements sent to you, or at least to always communicate with your suppliers if your payment is late.

Creating a Loyal Clientele. Whether you find yourself working for mainly general contracting companies or for several business owners, one of the best ways for you to create loyal customers is through constantly offering quality work. This means following through on the terms of your assignment, and honestly apologizing for and correcting any mistakes, at your own expense. A good business owner will always be putting the customer first. If one loyal customer needs something done in extremely short notice, do your best to work with them and help them meet their deadline. Such excellent service is likely to be remembered, putting you in a good place for work.

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Knowing the Glass Trade

If you are in business installing commercial glass or would like to start such an enterprise, there are a few things to know about the glass trade. You must be familiar with the way the glazier’s union functions, as well as with the area’s building codes.

Union rules. Especially near big cities, glass workers (called glaziers) must be a member of a glazier’s union in order for a jobsite to avoid Union picketing. Unions have many rules and stipulations that employers must follow in order to avoid a fine or other penalty. One example is providing over-time pay (called time and a half, meaning a worker gets paid 1.5 times their usual hourly rate for any overtime). Another stipulation discusses the jobs union and non-union workers may perform. In Chicago, a non-union worker is not allowed to work on a jobsite in any way.

Building codes. Just as important are the building codes for an area, as disregarding these rules could weaken the building’s structure and render the building unsafe for either other workers or for residents. Meeting with someone who understands the building codes in your area, so that you can overview them and understand them may prevent you from running into issues later.

Knowing your materials. Before you begin your business, you need to make sure you are familiar with the materials you need as well as with the suppliers you are considering using. Glazing requires not only the specific type of glass and the specific metal for creating a frame, but you must also look for hardware, caulk, and installation tools. In many cases, you will need to rent a lift. Make sure that you can speak intelligently with your clients, showing them the latest technology for security systems, explaining the differences in metals, as well as the differences in types of glass panes.

If you are beginning your own company, consider these tips to make sure that you are prepared to communicate not only with your customers, but with your employees and the other construction companies that you will be dealing with on a regular basis.

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Investing in London Real Estate: A Sure Bet

European countries have had their fair share of economic problems lately, making it a hard continent to look at investment-wise. However, the U.K. is one country within Europe that is still an economically important market and should be considered when choosing international investments.

Real estate is a classic investment choice. Property is a stable market and can amount to a long term investment to give you peace of mind over the years that your money is safe. When you are considering foreign real estate investment as an addition to your portfolio look no further than London.

London has had the largest property investment market in the world for two years running and has been in the top 10 for a decade. Real estate in London has traditionally always been a great place to look when starting an international investment portfolio, but as most industries did, it took a hit with the global financial crisis. Luckily for London and for foreign investors, the market has gained back its ground in good time. Prime rents have already risen 23.4% since hitting a low point in 2009. London bounced back quickly and with fewer side effects than most other cities from the financial crisis.

Retail rent is also an important market in London, showing stability no other city in Europe can match. Streets in London are still in high demand for retailers who want their businesses to flourish. Looking into investing in real estate in London can begin with retail property, as the demand is not likely to diminish no matter what the economic climate may be.

When trusting your money to foreign investments it can be beneficial to gamble, but it’s not always a sure bet. Real estate in London is one investment opportunity that has the benefit of historical stability, ensuring steady gains over time without too much stress.

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Seattle: Asian Paradise

The top of the Space Needle in Seattle, Washington
Image via Wikipedia

For many Asian people, Seattle, Washington is their home away from home. This is because the city of Seattle offers so many things for people of this ethnicity. It doesn’t matter if we’re talking about Chinese, Japanese or from another Asian heritage, Seattle is sure to have something for all of these cultures. There is already a large population of Chinese people who live here, and the Asian tourists who visit the Seattle area is also quite large. Therefore, if you’re looking to increase your cash flow, then investing in residential property may be the way to do it.

When Asian tourists come to Seattle to visit family and friends, they always need a place to stay. This is why you will find it profitable to own a few investment properties in the Seattle area. You may not feel like you have the time or ability to properly manage the properties and, as a result, you won’t make any money with them. Well, the great news is that you don’t have to do have either of these things to make money with investment properties when you hire a qualified Seattle Property Management company.

Managing rental properties is what Seattle Property Management companies do best. Not only do they know how to keep your properties up and running, but they will also help you find and keep tenants by helping you advertise your properties. They will also generally handle the dealings with the tenants to keep them happy, perform routine maintenance, collect rent and handle evictions if necessary. If you are thinking about purchasing an investment property that will attract Asian tourists or residents, you will need two things: a luxurious condo/rental home and the help of a Seattle Property Management company. With the professional property management help and a nice rental property, you will eventually be able to generate enough cash to invest in more properties, which will quickly increase your profits!

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Types of Foreign Investment

The world of international trade and foreign investment is out there, but how to get involved? There are several different types of investments available in foreign markets. The following are just four types of investments that can ease you into foreign markets and help you take advantage of all the wealth potential out there.

  • Mutual funds

Equity mutual funds are a great place to start if you are totally new to investing in overseas markets. There are a number of different possibilities with mutual funds. Some invest in foreign as well as domestic companies, while others are focused on specific regions of the world.

  • American companies

There are a wealth of American companies that invest in foreign trade. Many American companies have offices and branches in a number of countries. By investing in these companies you have a tie to the foreign trade markets without taking a large risk. This option is a conservative way to jump into foreign investment and a very attractive option for new investors.

  • Exchange Traded Funds

Exchange Traded Funds for overseas indexes are similar to mutual funds but with the added benefit of being able to trade them like stocks. These funds can help you diversify your investment but also have the familiar behavior of a stock. The MSCI EAFE is a stock market index that looks into foreign equities and would be a great place to start when interested in ETFs.

  • Global Real Estate Mutual Funds (REITs)

These funds let you invest solely in the overseas property market. Most of the time they cover commercial property and are a good way to get into the foreign real estate market without much risk.

As always, before jumping into foreign investment check with a financial advisor. The aforementioned types of investments can make great talking points and give you an idea what you are looking for as you begin putting together your foreign investment portfolio.

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A Work in Progress: U.S./China International Trade

Growing pains are a common occurrence among countries with growing economies. Trying to figure out policies that will benefit the domestic economy as well as maintain good relations with trading partners is a balancing act that requires time and adjustments. China and the U.S. are an excellent example of a trade partnership that is up and coming. As the two countries work through their differences to develop a mutually beneficial relationship the world can see trade negotiations in progress.

In 2011 China is projected to be the second largest market for American agricultural products, just behind Canada. China is a major trading partner for the United States. As a growing economy China has had its adjustment problems and had a tendency to favor protectionist policies to maintain domestic industries. The United States has also been accused of using these strategies in the past. However, as long as both countries follow World Trade Organization policies using their negotiation tactics and dispute settlement processes it is hoped that they can come to an agreement that will benefit both economies and the trade relationship.

Most recently there has been meetings between Chinese President Hu and President Obama to try to strengthen trade relations between the two countries. While China may have differing opinions from the United States on some issues, it is clear from the talks that both sides see their alliance as an opportunity for economic growth through cooperation. Companies in the U.S. are coming around to the opinion that economic growth in China can be a good opportunity for American economic development as well. Countries throughout the world see the China-U.S. trade partnership as an important factor in pulling out of the global financial crisis.

China and the U.S. can only reach their goals by applying policies of cooperation and mutual development. Current talks look promising for developing win-win tactics for both countries and provide a good example of the necessity for international trade cooperation.

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Finding the Best Asian Investments

With all the hype on investing in Asia, it can be difficult to wade through the news and find the best possible areas to invest your money to see the greatest returns. Many potentially successful industries are being overlooked as financial advisors bemoan the poor banking growth. Search no more, the following are the latest industries showing growth and good investment potential in Asia.

  • Transportation, Ports, Shipping and Exports

China and other Asian countries will be focusing on making money exporting their goods. A smart place to look to invest your money is in the logistics of that export business. Sectors such as transportation, ports and container shipping are the first places to tap into the money to be made from the Asian exports business. These areas are projected to grow in leaps and bounds as global trade and intra-Asian trade increases.

  • Alternative Energy

Alternative energy is an overlooked sector due to decreased demand in some countries. However, in Asia countries are looking to these forms of energy to supplement their energy sources and save money. Solar energy in particular is a promising energy source showing potential for earning in Asia.

  • Electronics

Growth in formerly struggling countries in Southeast Asia will show an increased demand for the latest electronics such as laptops, smartphones, LCD televisions and MP3 players. Indonesia, Thailand and Vietnam have young up and coming classes interested in the types of products available in the more affluent Asian countries. Looking into these growing areas of demand in Asia can produce great rewards for your investments.

These investment opportunities are a good place to start looking for beginning your foreign investment portfolio. As always, check with a financial advisor before making any large commitment with your money. Tapping into the potential in Asia will show excellent returns on your investments.

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