Technology

How not to do a job search

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There are many self-help books on job search strategy. The problem with most of them is that they describe a “one size fits all” approach. The real person is not taken into account, not only what he wants today, but more importantly, what he aspires to in the future. There are steps outlined that can help you get the next job, but no alternatives are given. What if you decide along the way that you want to explore a new career, are now open to relocation, or want to take courses to improve your skills? These books are not likely to try to stray from the path the author wants you to take.

Mistake #1

It’s not easy to write a resume, but most people make the mistake of simply listing their jobs, duties, some accomplishments, education, and maybe some awards and/or associations they belong to. Your career summary or objectives section has maybe a line or two that sounds very boring and doesn’t explain to the reader what it is about. The point of the resume is to get you the interview, but like a bad book, if it doesn’t wow the reader at first, they won’t read the rest.

Spend time talking to others about how they perceive you. Also, go through your performance reviews and highlight what stands out and makes you different from others. Finally, visualize what would be the ideal job for you in terms of responsibilities, management skills, visibility in the company, and interaction with others, including vendors and customers. Now write your career summary. Take a walk or leave it overnight and then check it again and make changes. One last point: DO NOT list the number of years of experience you have in your career summary. If a junior recruiter has a job that requires 5-7 years of experience and you notice that he is 8 years old, he will be eliminated immediately. Your goal is to have a compelling summary that gets the reader excited to read more and learn about you.

The rest of your resume should follow a clear and distinct format with a paragraph under each job explaining your daily duties. Bullets below describing your accomplishments. Education, associations, volunteering, etc. follows the same format as the professional experience section.

Mistake #2

Many people do not like to network. Why? Because it has the word “work” on it. If you think of networking as personal growth (you learn from every person you meet), then it’s easier. The mistake people make is reaching a large enough group of people. Your personal network should include family, friends, former colleagues, former bosses, friends from college and high school, and anyone else who can serve as your advocate. Everyone should have your resume and have a clear understanding of what you want in your next position. Also, contact recruiters and the careers department at your university. Attend career transition groups and job fairs, and don’t just talk to company representatives. Instead, talk to others who are lining up with you, etc.

Identify new contacts through LinkedIn (see Mistake #3). If someone is helpful, offer to buy them a cup of coffee. This is probably your best investment because you can ask questions to find out more about a particular company or field, and you can practice your interview skills.

Mistake #3

Many job seekers think that if they read the job description and visit the hiring company’s website, they are prepared for the interview. WRONG! Much more preparation is needed. Review public documents like 10k’s and 10q’s. If it’s a product-oriented company, like consumer packaged goods, test the products. If it’s a service business, visit the store or call their customer service center and ask questions pretending you’re a customer.

Use LinkedIn in several ways. DO NOT just read the bios of the hiring manager and other interviewers, but read all the bios for a company if it is a smaller organization or at least read the bio of everyone in a particular department. Try to get a sense of the company’s culture: many people have been there for a long time, or they are all relatively new; all have an advanced degree or no degree at all; and/or the employees are all located in one location or are geographically dispersed. Try to find people who have connections to someone at that company and see if you can get them to introduce you so you can get an inside look at the positives and negatives of working there. The point is to get a feel for the culture because the position might be ideal, but if the culture isn’t right for you, you’re going to be miserable.

Mistake #4

Interviewing is like dating. The goal of both is to gather information and then see if it’s the right match for you. The mistake many interviewees make is that they don’t ask enough questions or they ask basic questions without follow-up. As an executive recruiter, I am rarely asked about the hiring manager in terms of his or her personality, work style, and progression within the company. These are key elements because studies indicate that job satisfaction is not always about the money, but rather about the supervisor and future opportunities.

I suggest to my coaching clients that they try to follow the 50-50 rule. Let the interviewer ask 50% of the questions and you do 50%. If the interviewer/hiring manager asks all the questions that could raise a red flag. It is also important to pay close attention to body language and tone of voice.

Mistake #5

Even if you know you’re coming back for a second or third round of interviews, send thank-you notes after the first meeting to each person. Email is acceptable, but DO NOT email multiple people. The point of this note is not just to thank the person for their time, but also to reiterate a point or two you made in the interview or something you may not have mentioned before but, on reflection, feel worth mentioning. Watch out for typos and don’t use casual language.

Mistake #6

Do you know what you’re really worth? Many job seekers think they can get a 10-15% raise when they change companies and that’s it. NOT! When determining your next position, you must determine its market value. Job duties, the number of people you will be managing, location, travel, if any, and other factors must be taken into account when calculating your compensation range. Visit sites like salary.com and payscale.com for help.

There are other components of compensation besides base and bonuses: long-term incentives, commissions, benefits, vacations, car allowances, membership dues, educational expenses, etc. The key is to do your homework and practice the negotiation that most people don’t do. By being prepared, you have an answer when they make you an offer. Keep in mind that the company may not be able to offer you the salary you want, but then it’s up to you to negotiate other things, like more vacation time, flexible hours, or a quicker review cycle. Imagine a tennis match and you and the hiring manager are pushing the offer back and forth. Regardless of the outcome, express your appreciation for their efforts in negotiating with you.

Final and biggest mistake

You got a new job, congratulations! Now DO NOT stop working on your race strategy. Many stop doing anything because the new job is demanding, because of family problems or because they are simply exhausted and need a break.

Instead, you should continue to attend networking events and assist those who are now in the same shoes you were in a short time ago. Be sure to reach out and thank everyone who helped you. Send an email announcement to your network informing them of your new position and provide them with all your contact information. Update your LinkedIn profile. Continue to take calls from recruiters and try to provide them with a prospect, source, or industry information.

In other words, stay connected, continue to develop your career strategy, and know your value. Most jobs today are through referrals, so keep in touch with your advocates with a regular email update on what you’re up to and offer to help them too.

The job search is never easy. It takes as many hours to look for a job as to do the job. It can be hard to view it in a positive light, especially when there are money considerations involved, but if you view it more as a journey that includes interacting with new and interesting people along the way, you’ll make it easier and hopefully more rewarding.

Business

Buying a business with your own cash, and without a penny of your own

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After reading this article, you’ll be ready to start applying your knowledge and achieving your American Dream of business ownership. This comes with some serious effort on your part; however, by reading this article, I assume that you have decided to embark on this long journey and begin to make a change in his life. I’m going to introduce you to some easy ways to get the money you need through the modern miracle of leverage. We’ll start with an approach that allows you to make the business truly pay for itself without digging into your wallet.

Question: Is it true that the method of taking money out of the company’s cash flow is reserved exclusively for financial gurus?

Answer: It is partially true. Most leverage techniques have that reputation. And frankly, they shouldn’t. If more people knew about them, many entrepreneurs would have been in business a long time ago. These techniques only seem to be reserved for financial experts because [the techniques] they appear more frequently in strategic financial markets. You hear about many large acquisitions worth billions of dollars. However, you will never hear how it happened or what was involved. This information is never made public. As will be mentioned in Strategy 4, by developing a strong network with corporate leaders, you will definitely have access to that valuable information even if you are not working in the field.

These are actually hidden secrets that I am revealing to you right now. The power of information will allow you to go far. However, it is up to you to make the effort to find out more about the company you wish to acquire. Remember, the most powerful tool you have while dealing with the seller is to show him your industry knowledge and how it can be beneficial for him (and you of course) to sell him the business. And trust me, you too can use these powerful yet simple tools right away.

Question: What is the simplest way to explain how to use a company’s cash flow for financial purposes?

Answer: Let me start by giving you some perspective on how much money we’re really talking about. One expert explains it this way:

“The amount of cash that the average business puts in their cash register for just two to three weeks is usually enough to cover the down payment to buy that business.”

Think about it. Cash collected in a matter of days is often enough that, with a little creativity, you can use it to satisfy the seller’s down payment. That can work no matter what type of business you’re looking for. Since there’s no law that says you can’t “borrow” that money, all you have to do is figure out how to use the cash raised to pay for the business once you’ve acquired it. This is easy if you have a CPA to calculate your cash flow to know how to approach the seller with your proposal.

Question: How does the process work?

Answer: Some steps are required. You, or your CPA, must determine the net cash flow generated during the first few weeks of business by determining the difference between cash receipt totals and operating expenses.

Question: What are the proper procedures for evaluating a business and what should I prioritize in making my decision?

Answer: There are several methods used to evaluate companies. Generally, cash flow, assets, or replacement values, or a combination of these, are considered when determining the value of a company. Listed below are several valuation methodologies commonly used by valuation firms.

Replacement cost analysis:

o Generally, the value of a company is not related to the replacement value of the company’s assets. Sometimes the replacement value of property, plant and equipment (PP&E) is much higher than the fair market value of the operating business. Sometimes the value of goodwill such as customer relationships, corporate logo and technical expertise are much higher than the replacement value of PP&E.

Often, you can choose a particular industry by expanding facilities you already own, investing in completely new facilities, or buying all or part of a new company operating in the industry. The decision of which investment to make depends, in part, on the relative cost of each. Of course, an investor will often consider capacity utilization, location, environmental, political and legal issues, among other things, in determining where and how to invest. These issues may outweigh the importance of replacement cost analysis; in such cases, this valuation method is not used to determine the fair market value of the business.

Asset Valuation Analysis:

o Typically, it is possible to liquidate a company’s PP&E assets, and after paying off the company’s liabilities, the net proceeds would accumulate in the company’s equity. It is necessary to determine whether such a liquidation analysis should be carried out assuming a rapid or orderly liquidation of the assets. However, even assuming an orderly liquidation of a company, it is generally the case that an operating company will be worth substantially more. It is not appropriate to use the asset valuation approach in this case because the company is operating successfully; In such circumstances, in the industry in which the business operates, the fair market value of the business will almost certainly exceed the value of its liquidated assets. The sum is more valuable than the parts. It is appropriate to value non-operating assets using an asset appraisal approach to determine their value as part of the fair market value of the business.

Discounted Cash Flow Analysis.

o Another determining factor in the value of a company is the expected cash flow. Discounted cash flow analysis is a valuation method that isolates the company’s projected cash flow that is available for debt service and provides a return on equity; The net present value of this free cash flow to capital is calculated over a projected period based on the perceived risk of achieving such free cash flow. To account for the time value of capital, it is usually appropriate to value the cash flows of the business using a discounted cash flow approach.

Total capital invested.

o Each valuation method of a company or its business units assigns a value to the total capital invested. These various values ​​are compared to arrive at a final fair market value. Often it is appropriate to weight the various implied values ​​for total invested capital based on the relative effectiveness of each valuation method used for analysis. When the value of the total principal invested has been determined, any claim to that security that has a greater claim than the common shares is subtracted to determine the fair market value of the common shares. These other claims include the fair market value of all debt, outstanding preferred stock, outstanding stock options, and stock appreciation rights. Non-operating assets that have not been previously valued must be accounted for and added to the total capital invested. These generally include cash and the fair market value of any non-operating assets.

Terminal value.

o An owner can expect cash to flow into equity for an indefinite period of time. Although valuation models often use predictions of future cash flows, it may be necessary to represent the value of cash flows that can reasonably be expected to extend beyond the horizon of the projections. This value, known as terminal value, is often calculated by multiplying the fifth year cash flow by a multiple. Selected multiples typically use the median multiple of total capital invested in comparable companies selected in the comparable public company analysis. The selected multiple may be discounted to reflect company performance or size characteristics relative to comparable companies. This is quite similar to dividing cash flow by the weighted average cost of capital and including a growth factor.

Question: Well, that’s all great. However, how will that help me in buying the business?

Answer: You negotiate a deal that allows the seller to receive the down payment directly from the cash flow once he has taken over the business. If this sounds too good to be true, here’s an example of its feasibility:

An enterprising young couple, Sandy and Kevin, wanted to buy a thriving restaurant and bakery in Northern Virginia. Although they were bright and energetic, and had some experience in the food industry, they greatly lacked the ability to pay the $100,000 that the seller wanted to take off the total price of $500,000. (The restaurant’s annual sales totaled $1 million, some of which came from a trading business that sold its freshly roasted coffee to local grocery stores and gourmet coffee shops.)

Fortunately, the seller agreed to contribute and finance the difference of $400,000 over five years at 10% interest. This happens often, especially with a lot of persuasion. However, the couple’s problem was to raise the remaining $100,000. Kevin’s parents believed strongly in the abilities and determination of their son and daughter-in-law and decided to loan them $20,000 to pay back at their convenience. That certainly helped, but they still needed $80,000. To achieve this goal, the couple’s CPA developed a cash flow statement for the first month of their clients’ new ownership. Their vendors would not require any payment for a month, so Sandy and Kevin would not have that expense. However, operating expenses such as rent, payroll and utilities had to be considered.

Looking at the numbers from the financial analysis, Sandy and Kevin were convinced that they could easily get $80,000 out of their business in four weeks. But the big question was: How could they convince the seller (who was expecting a $100,000 check at closing) to wait three or four weeks for his money?

This is where creativity, persuasion and seriousness were required. Strategizing with the attorneys and their CPA, Sandy and Kevin devised a plan that allowed the seller to retain the final sale documents for four weeks. During that period, they would pay the seller approximately $20,000 per week. If they missed a payment, the seller would have the right to renege on the deal. The seller agreed to this proposition and gave Sandy and Kevin their American dream without cash.

This example represents more than 80% of all takeovers and acquisitions. In the worst case, the seller may not be cooperative; in this case you must understand that he was probably never seriously interested in selling his business. The seller may have been waiting to see how far he would go during the negotiation process, which brings us to the next question.

Home Kitchen

Choosing the right pool table for you

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There is something to be said for buying the right pool table. Buying a pool table is very similar to buying a car. In many ways you can relate the entire billiards industry to the automobile industry. It’s amazing how many lessons our pool table manufacturers and retailers can learn from the trusted automotive industry. There are dozens of different manufacturers in different countries. Next, you have to choose where you are going to buy your pool table. Will you decide to buy from an authorized dealer or a little timer in your garage? Within that, you’ll notice that there are several different designs and sizes. There is a wide range of options in the raw materials with which it is built. Even more, you need to decide what options you want including: stains, fabrics, sights, and accessories. Are you going to buy new or used? And the list goes on and on …

The recommendation to buy new is always the best. Why? Forget for a moment about the different qualities and brands available. Now really consider the disadvantages of buying a new pool table. There is just one real downside, the price. If you are considering buying a pool table and are motivated by price alone; then it may be more appropriate for you to settle for something used. However, if you can wait, if you can take some time to curb the impulse to buy now; then you will realize that you would be giving away all the advantages that come with buying a new one. Remember that there are numerous brands and qualities. You would be abandoning customization, quality, generational change, guarantees and guarantees. Does anything more need to be said? It’s obvious.

Buying a pool table is a huge expense. You shouldn’t have to simply settle for either a used one or a retailer’s stock because it’s cheaper. You wouldn’t settle for the car you don’t want just because it’s cheap, would you? Maybe, but you know what you want. You know what you like. Build it and be part of the process. This is going to be something that you can pass on to your children’s children. However, there are certain times when buying in-stock inventory or used items may make more sense. I only know what is right for you.

Alright, so what is the best pool table available? That is up for debate. I’ve worked with and seen just about everything there is over the years. Some are great others are firewood. Generally speaking, I would recommend that you buy something made in the United States, that uses hardwood in the construction, and that contains Brazilian or Italian slate in three-piece form.

As a side note: China tables just aren’t good. China slate is not good. If you think blackboard is just blackboard; then tell that to the many customers who made the mistake of buying these and needed frame rebuilds, whiteboard replacement, and new parts that ended up costing them more money than they paid for the whole new table. Chinese slate is rigid and hard and does not allow it to flex, so it cracks and breaks easily. Their pool tables are mass-produced on “the line” with stains and spray finishes. They sure look great. They may even play nice for a while, but those finishes crack and the cheap woods used warp. It doesn’t take long for that to happen either.

There is also a difference between MADE IN USA and BUILT IN USA. There are many companies in the United States that claim to be made in the USA, but in reality they only assemble here. I’m not buying someone like that. Do your research, talk to the right people, and educate yourself. I can list many American manufacturers for you, but that would be settling down and detracting from product research. Let’s try to remember that this is more of a process than an impulse purchase.

One-piece slate tables are outdated for the home. In bars they are nice, but that is not what you want in your house. First of all, who wants to move it? Nobody does it. Second, they just can’t get the same kind of level of accuracy that a three-piece slate table can get. General leveling is all you get with a one piece slate and three pieces of slate not only give you that but also add an element of fine tuning that will hold that level longer and also resist warping.

Finding the right manufacturer and retailer will take some time. Find the best ones that fit your budget, and more importantly, fit your needs. The internet can give you ideas, but you have to go out and see the product. Take your time. Find what works best. Remember it’s your money.

The size and style is completely up to you. There is nothing here that anyone can do to influence these. How much space do you have? This will help you assess what size will fit in your current home. However, think about this carefully. Remember, as Americans, we move frequently. What may fit in your current home may not fit in the next. What decoration do you have and present in your home? Does a traditional look, contemporary design or tournament style suit you and your home? There can be options on a pool table from the legs, frame (arched, non-arched, double arched) and rail edges (routed, smooth, scalloped). All of these things must be considered. Get out there and look at them!

These are the most common types of woods used to make pool tables. In general, you will see particle board with veneer and laminate over it, poplar wood (or tulip wood), oak (white or red), hard white maple, hickory, walnut, mahogany, or some other exotic wood. There are tables made of marble, car parts, metal, and other strange materials. However, their standard hardwoods will be oak or maple for most traditional models, and a laminate will typically be used on their modern tournament-style corner tables. Rule of thumb: stick to the standard woods and work your way up.

Which of these are important to you? Which are not? Generally, your domestic hardwoods are going to last a long time. Just another important note on “hardwoods”, poplar is technically considered a hardwood, but most don’t recognize it that way. It is soft and easily deformed even if you press it layered. Don’t be fooled by the seller. Tournament style tables are virtually all made of particle board with a high or low quality laminate. Don’t let that stop you from buying one because the particle isn’t that great. It’s not, but some good name brand things make a good table.

There are a multitude of different stains and finishes available these days. The stain is basically the color that they give to the wood, while the finish is what covers the protection and shine. The colors of the spots range from natural and light colors to dark and black. Finishes will typically be available in only a few different options, with the most popular being matte, semi-gloss, and high-gloss. These two elements are related to your personal wishes and your decoration. Check them all out, especially in comparison to your fabric color options.

Gone are the days of the traditional green cloth. There are dozens of colors available now, and you’re not limited to the greens and blues of the past. However, there are different types of fabric. They will fall into two types: wool and worsted.

Fleece cloth, or nap cloth, is your standard in home and recreational fabrics. Most retailers include this type as the standard cloth when purchasing a table. You will very rarely see it in a pool hall unless the owner is cheap. This fabric is usually a blend of nylon and wool. It is sometimes known as a nap cloth because it has microfibers that pick up similar to carpet. Pros stay away from this cloth because it doesn’t pull on the board as hard to reduce speed and accuracy, it tends to pill, the balls gouge the grooves and it gives you the “wig”.

Worsted cloth is also a similar blend with a much higher wool content. This material is the best of the best. It’s elastic enough to stretch to incredible tension, giving the game extreme precision and speed that’s consistent enough to allow professionals to hold position throughout a game. It doesn’t pill or tear like its woolen brother, and it’s heavy and durable, extending its life in most scenarios. If you have the extra money, get it! Don’t skimp on fabric, but keep in mind that there’s really only one true manufacturer and the other brands of worsted are just cheap imitations.

Sights come in many different materials and styles. You’ll see round and diamond-shaped sights made from plastic, mother-of-pearl, abalone, and metals like brass and chrome. You can have them be different colors or have a double diamond look. The most common double diamond style will consist of a view of mother-of-pearl surrounded by abalone. This gives the pool table a completely different look and feel.

Then we come to the accessories. They are what they are and in most cases you will get a kit with your table that comes straight from China and just generally sucks. It’s okay though because these are starter articles. Naturally, you want the best you can get with the purchase, but don’t let anyone tell you that your table is better because it has better accessories. Once you learn the game and become more involved, you’ll appreciate and understand the value of upgrading gear over time. Personally, if the balls are not Aramith and the signs are not of American descent; So I don’t want them. However, they get expensive and aren’t really necessary until you get familiar with the game and want better gear.

So the last thing to mention while searching for the perfect pool table is warranties and guarantees. Why is this important? Simple, if the manufacturer doesn’t back their product for life, and a retailer doesn’t back their work with a lifetime warranty; So what good is the product and service being provided? Remember that generational step? How can you be expected to do that if the manufacturer and seller don’t even believe in their product? It’s hard to find the right combination of manufacturer to dealer, but they’re there. If you can’t deliver these two simple things, then you shouldn’t be in business at all. Forget them.

If the brand is correct, call the manufacturer and tell them you want their product without involving retailers and tell them why. If the retailer is right and the brand is wrong, you may need to explore other options with them or find another brand.

This is about you and this is the perspective for your analysis. Ultimately, it’s up to you to decide what’s best for you in terms of brand, cost, quality, and style.