STARTING A BUSINESS GREATEST KEY IS KNOWLEDGE — LISTEN & LEARN
Courting the Millenials
Recruitment of top notch young talent who can enter your work force and provide that kind of long term growth potential and can only come from a smart and productive staff is always a challenge.
One of the big reasons any business works to keep its public image high and to project the concept that they are an employer of choice is to recruit the best and the brightest from the youth ranks.
Young employees bring a lot to a business that can compliment an older work force and make the business much more vital. Younger employees are savvy to the wants and needs of their peers.
So instead of trying to guess how to market to the current generation of 18-28 year olds who are the age segment with disposable income, by keeping such employees on staff, you have the inside track to the priorities of the current generation.
Further youthful employees are often optimistic and out to change the world. Their sense of mission and belief in the system as a means to make the world a better place results not only in a better morale internally but in business philosophy that shares those values.
The tendency to name the upcoming generations can be a bit trite but it helps in knowing who the target group for recruitment are. And that group of youthful future employees that will be hitting the job market in the next few years has been dubbed “the millennials”.FREE INFORMATION
And despite the traumatizing events of world terrorism, war and the decay of the environment, the millennials come to you with that youthful enthusiasm and desire to make a big difference in the world that sets them apart from previous generations.
To lure the brightest minds coming from the nation’s colleges, some rethinking of what we put in front of these young people is in order.
They are not leaving academia strictly with the objective of making a lot of money. So to turn the head of youth workers who can make a change for the better in your business…
Don’t just make the potential job about money or your recognizable business name. The reputation of the company can be as much a negative as it can be a positive. The millennial recruit will look past the sign on the building at what the company is really all about. Continue reading “STARTING A BUSINESS — COURTING THE MILLENIALS — INVESTING IN THE LONG RUN”
Making Money from the Inside Out
It is a well-understood axiom of the business world that there are two ways to improve the bottom line of the business. Stated simply, those two ways are to make money or to cut costs. Now no business can cost cut their way to profitability.
But by the same token, waste and excessive internal costs for any business can eat away any profits that business is enjoying. So to get ahead in a competitive business environment, both methods must be employed.
When a business turns its eye to cost cutting, there is a stated or unstated business objective that the business owners will discover significant bleeding of revenues that are going on within the systems of doing business.
So if those systems can be improved to eliminate that waste, the business would literally make money from the inside out because the overhead of the business would drop so dramatically.
The usual progress of such a cost saving campaign by a business is to find “the low hanging fruit” first. By that we mean that in order to satisfy the demands of management, middle management will identify superficial savings in hopes of satisfying the requirement. FREE INFORMATION
Hence switching from disposable cups to mugs or cutting back on break room amenities often go on the chopping block first.
Sadly, while there may be some superficial savings to be found in such places, the significant introduction of efficiencies for any business lie at a deeper level and take a more in-depth process of locating problems with how things get done internally.
The methodology of finding these “money pits” within a business is often called “Process Improvement.”
The concept of process improvement is to diagram a particular business process from inception to completion and document the stages it goes through, the handing over of authority for the process and to pin point places where inefficient methods are causing excessive cost in executing that process en route to the final stage of process completion. Continue reading “GENERATION MILLINEALS — MAKING MONEY FROM THE INSIDE OUT — BECOMING DEBT FREE”