Mohit Tater's Blog, page 597

Q&A with Larry Weltman, Toronto Business Leader, Executive at AccessEasyFunds

Since 2007, Larry Weltman has served as a customer service representative at AccessEasyFunds Limited, a Canadian company providing pre-closing advances to real estate agents on commissions that they have earned. The company assists many of Canada’s best real estate agents and is committed to making the lives of real estate agents easier through its services. Weltman has helped grow AccessEasyFunds Limited from its beginnings and looks forward to seeing how the company will develop in the future.

As a Customer Service Representative, Larry
Weltman interacts with many clients and gets an up-close-and-personal look at
many of the details involved in the company’s day-to-day transactions and
business. He is also a staunch advocate for the importance of customer service,
as he mentions in this conversation below.

Why do
you think it’s so important for today’s entrepreneurs to commit to strong
customer service?

Strong customer service creates a relationship between the company and the client. When you establish a business as an entrepreneur, you’re entering the marketplace and you want to build your reputation and brand and ensure that you can compete.

One of the best ways to accomplish both those
goals is to ensure that your company provides exemplary customer service. When
a client is happy with their interactions with your company, they’re so much
more likely to spread the word–among friends, family, and other potential
customers. As the leader of a company, it’s up to you to provide that
outstanding customer service and to train others within your company to do the
same. From what I’ve seen throughout my career, I can say with confidence that
good customer service is a fundamental part of making a company successful.

What
would you consider other essential qualities for an entrepreneur?

I think there are a number of different
qualities, besides being dedicated to customer service. A great entrepreneur
should lead by empowering his or her team and letting them make decisions,
creating a good environment, being results-oriented, being a great listener and
communicator (this goes along with providing excellent customer service),
having a clear vision and strategy for the company and for his or her team,
possessing key technical skills to help move the company forward, and being a
strong decision maker. I think those are, generally speaking, some of the
traits that are essential for anyone who’s hoping to make it as an
entrepreneur.

What
are some underestimated skills that you think contribute to an entrepreneur’s
ability to succeed?

The abilities to innovate and adapt. I think those are paramount too. Having a strong vision can help with innovation, but so much creativity and innovation comes from one’s ability to take risks–controlled risks–and learn from mistakes. Establishing practices around new projects and risks in order to collect data about those projects, so that you have some idea, for example, of the ways in which a new project might not succeed ahead of time, is a great way to help yourself innovate and take the risks that are necessary to grow and develop over time. Having discussions about your successes and your failures can help you fine-tune your approach in the long-run and it provides valuable metrics regarding the state of your company. For an entrepreneur who’s managing a team, you also have to be mindful about allowing your employees enough space to be creative: you should set goals that allow people to stretch their abilities.

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Business Hacks That Are Sure to Change Your Game

Running
a business is by no means an easy feat but there are many ways in which you can
make your business more productive and help reduce the stress on you. Often, we
look at others and are unable to fathom how these people achieve the number of
things that they do in a day. There’s a saying that one should “work smart and
not hard” which seems to be effective for many who can’t seem to get through
the day with the number of things they have to do.

Instagram Ads

Instagram is undoubtedly one the most popular social media apps around which makes it the perfect place for marketing your business. A lot of e-commerce businesses are using Instagram to promote their products through photos and videos. Instagram posts are cheap, the only thing needed is data to post an ad which is better than paying substantial amounts of money to have ads appear on tv, billboards and other marketing platforms.

Influencer
Marketing

It has become popular for businesses to use media influencers as brand ambassadors for their business. These influencers provide information on the products and other details entailed about the product. Choosing the right fit brand ambassador for your business is of utmost importance. For example, mobile casinos could use someone who’s renowned for gambling as the face of their brand which would then attract many players.

A/B
Testing

A/B testing is important because it helps you determine the worth of propositions which would then impact your sales. The A/B testing can also help you control how effective your checkout process is as well. Slowly test each feature of your business that way you will be less at risk of having unproductive results. This would also help see where your customers tend to lose interest in your site as well as improving these weak points. According to a mFortune spokesperson, the leading mobile casino service employs A/B testing in a variety of areas, such as user experience and marketing. By A/B testing promotional graphics for new games, mFortune can determine which styles are more attractive to players and encourage more registrations

Delegate
as much as possible

Delegating
tasks to other trust worthy employees is important, especially when you are
unable to fulfil all your tasks in the required time. Allow people to help you
even if you’re a proud person that finds it difficult to accept help from
others. We are only able to cope so much on our own and from time to time we do
require help. Delegating tasks could also help you to be more productive by
being able to complete more important tasks.

Aim
To Go Viral

There
are constant updates of new things going viral which attracts millions if not
billions of viewers. The trick is to use existing content that has gone viral
to your advantage by seeing how it can relate to your brand and how you can
then market your brand in a manner that it would also go viral. There are five
ways to achieve this and its through surprising, interesting, intense, positive
and relatable content.

These are just a few of many business hacks that can be used to make your business successful. These hacks help your business to be more creative and effective and could help you make a name for your business.

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Taking Advantage of Trading on the Move

There is no doubt that the Internet has involved over the past decade and there is perhaps no better example of this observation than the rise in the number of mobile devices on the planet. Were you aware that more than two-thirds of the global population is now connected to some form of mobile Internet device? This equates to roughly five billion individuals. Such momentum has not been lost within the online trading community, as investors now have the ability to execute positions with an unheard-of sense of flexibility. What are some of the main benefits of mobile trading systems and are there any prudent suggestions to keep in mind?

Mobile Trading Platforms at a Glance: On-the-Go Efficiency

The most obvious advantage of any mobile trading system is that you are no longer restricted to a physical location such as your home or the office. Those who need to balance trading hours with their work schedule are therefore able to enjoy a much more malleable investment strategy without being tied to any limitations.

Technology has likewise come a long way. One of the main limitations with previous trading systems is that they did not possess a mobile-friendly design. This essentially signified that they were unable to be optimised to fit the size of smaller screens or to adjust to different operating systems (such as Android or iOS). Thankfully, modern architecture is perfectly suited for a host of devices. Thanks to CMC Markets, the ability to trade on your tablet has come a long way. Simply download the dedicated iPad application and navigate to your favourite investment sectors. All parameters will appear identical to those associated with a personal computer, so there is no additional learning curve.

Leveraging the Best Mobile Trading Strategy

Mobile trading
is quite similar to traditional methods and yet, there are some notable metrics
to keep in mind. The first involves connectivity. Let’s not forget that even
the most advanced platforms will not function without a strong wireless signal
(preferably 4G). Slower connection speeds can lead to slight lag times and
these will invariably impact your ability to make snap decisions at the
appropriate times.

It is also wise to avoid trading if you are distracted or very tired. While this is a well-known observation under normal conditions, it is even more relevant for those who are utilising mobile devices such as smartphones and tablets. As they can connect to the app with the swipe of a finger, it can be tempting to monitor the markets on a 24/7 basis. Not only could this interrupt other areas of your life, but it may even affect your sleeping habits if you happen to be trading on markets thousands of kilometres away. Psychologists have found a very clear correlation between a lack of sleep and the inability to make proper judgement calls on short notice. This is an obvious risk if you are hoping to maximise your profit margins. There is no doubt that trading on the move is a great way to boost your income while keeping abreast of the latest open market movements. CMC Markets provides you with a number of cutting edge tools and as always, a representative is happy to help if you have additional questions.

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How to Plan the Perfect Outdoor Party

Throwing an outdoor party can be fun for you and your guests as
long as you have spent a little time preparing for the big event. Whether it is
a birthday party, graduation party, or family reunion, your backyard bash will
require a few key details to ensure everyone’s comfort and enjoyment. 

Spread the Word

It won’t be a party without guests. In today’s world you have many options when it comes to the invitations. Along with traditional note cards sent by post, you can invite groups through social media or emails. No matter which you choose, be sure to include the location, time, day, and a way to RSVP. 

Set the Stage

Once you have found a location, you need to think about seating. Rent enough tables and chairs for all of the guests, and consider a canopy tent to protect everyone from the weather and bugs. Citronella candles will also discourage pesky insects. 

Decorate

Decorating for your backyard party is one of the fun items on your to-do list. Check out your local discount stores for decorations that match the party’s theme. This will help keep you under budget while still making the place look terrific. Pick out table coverings, tableware, balloons, and streamers that all match. Use the party’s reason such as a birthday or anniversary as a theme or choose a favorite color. 

Select Music and Entertainment

Music is a great way to set the mood at a party. You can go big and hire a professional DJ to keep the party going or simply set up your own equipment in order to provide a soft background to the scene. Entertainment can be anything from a fire-pit complete with smores fixings to a photo booth and props. Keep the ages of your guests in mind when making a final decision. A bounce house is perfect for little ones while adults are happy with basic yard games. 

Feed the Masses

Food is a critical part of any backyard bash. Consider the time of day that you will be hosting the event. Early afternoon parties can provide a simple lunch buffet, but evening gatherings are expected to offer a full meal. If you wish to only serve appetizers and drinks, make this known on the invitation so guests don’t come hungry. Most importantly, offer a dessert selection. A celebration cake that suits the theme of the party can be the centerpiece. 

Once you have all of these items taken care of, you can sit back and relax. With proper planning, both you and your guests will have a wonderful time without any unexpected headaches or worries.

Author Bio: Paige Jirsa- I work with Top10.Today, a shopping comparison site, where we strive to help consumers find the best quality and priced products.

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The Importance Of Data In Marketing

Marketing has always been one of the core aspects of any business, which is
why it’s always been heralded as one of the few things that can make or break
your business. However, marketing has changed exponentially over the past few
years, with data becoming increasingly more important.

Knowing as much as possible about your customers – and potential customers – is key, as then you’ll better be able to act on what you know in order to further drive your business. But gathering this information isn’t just about developing your brand, it’s also about market news and ensuring that there’s a viable market for your business.

Because of that, data collection and utilization are key in developing your
business from its earliest stages. But then that leaves people with the
question of how to actually collect the data that they need.

How To Go About Data Collection

There are several ways to go about collecting market data, and each will
provide just as much information as the others, but different kinds of
information. Because of that, it’s necessary to collect data in different ways,
and not just rely on the one data collection method.

User-Generated

This kind of data has been on the rise over the past few years, with the rise of social media being the key driver. This is what customers, or potential customers, are saying about your business, or even the business niche that you’re in. Compiling that data will help you to better adapt your company moving forward, as you’ll be able to figure out your company’s strong points, as well as where it’s lacking.

Captured Data

Captured data is essentially what data you get when someone visits your
website; what particular pages your customers visit, what products they’re
looking at, and more can all be extremely beneficial to your business.

For example, if there are a lot of page visits to a particular product that
you’re selling online, but very few are actually buying, then it may be time to
change tactics and have a look at why that particular product isn’t selling.
Then you can, and work that into your new strategy. 

Transactional

Transactional data collection is exactly what it sounds like; it’s the
collection of any and all data that you take in when a customer buys something.
Essentially, this boils down to what kind of products are most popular, when
customers are buying and other related habits. With all of this information,
it’ll be easy to figure out where you need to improve for certain products, as
well as poise yourself for driving sales at key times.

Collected Data

This is probably one of the easiest types of data to generate and compile
for any business as it comes down to creating surveys or lead generation forms
for potential customers to fill out. While many businesses aren’t in a position
to gather vast amounts of data this way, it is one of the sure-fire ways to get
quality data out of the people that matter most to your business. On top of that,
it also helps with the likes of email
marketing in order to further drive sales.

How To Properly Utilize Data For Your Business

Obviously, the above aren’t the only ways to collect data, but
they’re definitely among the best and easiest. However, no matter which way you
collect your data, you still need to know how to use it, and that’s where it
may get a little tricky. That being said, it doesn’t need to be.

Knowing your customers’ buying habits, as well as where they feel particular
businesses, or niches, are falling short, you’ll be able to create a full
marketing and sales strategy in order to address a number of key areas. For
example, if your data shows that there’s a low demand for one particular
product, then crafting a sales and marketing strategy around that product will
help to increase sales.

Alternatively, you can always focus on your higher-end products, regardless
of their popularity, and craft your sales strategy based on the data you’ve
collected so far. That’s not to say that you should stop collecting data at
this point, however. During the course of any strategy, adaptability is key.
Analyzing the reception of that strategy is key; if the reception is what you
were looking for, then great. If not, then it might be time to go back to the
drawing board and craft another strategy.

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3 Major Currency Pairs and their Importance

The forex market
is one that thrives on volatility, as its derivative nature means that
investors can profit from currency trading even in a depreciating climate.

This was borne out during the first financial quarter of 2018, as daily forex trading volumes rose by 28% year-on-year in March to achieve a record high. This was largely due to an increasingly volatile economic and geopolitical landscape, which encouraged more buying and selling of currencies across the globe.

The forex market is also dominated by several major currency pairs, which are easily accessible through platforms like Equiti and have relationships that have been built over years of trading. Here are three of the most widely traded currency pairs and their most influential features:

USD/EUR

While the GBP/EUR
may be making all the headlines as Brexit negotiations draw to a close, it’s
the pairing of the single currency with the U.S. Dollar that remains more
important from a global perspective.

After all, America and the single market currently account for a combined 27.5% of the world’s trade in goods, with this number set to rise above 30% once Japan’s recently agreed deal with the EU has been put into practice.

This currency
pairing also offers an insight into the respective economic performance of
these two regions, with a strong dollar indicative of a faster-growing economy
in North America.

With the USD currently trading higher and having embarked on an upward trend ever since December 20th, it’s clear that America is benefitting from greater stability and a rebound in national equity indexes.

USD/JPY

The U.S. Dollar is also featured in our second pairing, and this should come as no surprise given the dominance of the greenback and the fact that it makes up 64% of all known central bank foreign exchange reserves.

As for the
Japanese Yen, this is the signature currency of Asia and one that’s considered
to be a safe-haven asset during times of global economic uncertainty.

In fact, the Yen appreciated by a staggering 20% in the wake of the great recession and the subsequent recovery, while it even managed to rise following the Great East earthquake that devastated the region back in 2011.

In this respect it
provides a perfect foil for the USD, which is known to thrive during times of
prosperity. This currency pairing also features noticeably low bid-ask spreads
and excellent liquidity, making it the ideal asset for forex novices or those
in search of a more balanced portfolio.

USD/GBP

We close with the
USD/GBP, which is recognised as one of the most liquid currency pairings in the
marketplace.

Bid-ask spreads
are certainly tight with this pairing, while it also offers little opportunity
for investors to manipulate prices through the practice of arbitrage (which
sees the simultaneous buying and selling of currency as a way of capitalising
on differing prices).

Ultimately, it’s the liquidity of this pairing that makes it such a universally popular asset for investors, while the widespread availability of trading instruments has also established it as a common choice for newcomers to the market.

Just remember; the USD/GBP has largely enjoyed an upward trajectory since the EU referendum vote in 2016, since which time the pound has continued to trade in a narrow range against its rivals.

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Be Your Own Boss

On 11th April, 1910, a 27 year old club singer Gabrielle opened a tiny shop at 21, Rue Cambon, Paris. She wanted to sell hats.

Orphaned at the age of 12, Gabrielle had been raised by nuns who taught her how to sew, a skill that lead to her life’s work. Three years later, she opened two new stores at Deauville and Biarritz, where she first tasted success when she designed a dress she fashioned out of an old jersey on a chilly day. A few years later, Gabrielle, nicknamed ‘Coco’ from her days as a singer, launched the immensely popular perfume, Chanel No.5 and thus the fashion label Chanel was born.

First used in 1723, today the term entrepreneur implies qualities of initiative, leadership and innovation in business. An entrepreneur is an opportunity seeker, a generator of new ideas and business processes. Economist Robert Reich has called team-building, leadership, and management ability essential qualities for an entrepreneur.

But why become an entrepreneur at all? Why leave the comforts and the structure of an established firm, to work 12 hours a day out of a basement?

Mike Templeman, CEO of Foxtail Marketing, says “As an entrepreneur, I always have a story to tell. Whenever I tell someone I run my own business, they always want to know what I do, how I do it and how it’s going. I always am able to provide a tale or two, and the best part is that I get to determine the story’s chapters.”

Have you ever been fired? As an entrepreneur, you run the show. Plain and simple. This is your company, your brand, your pride and joy. You are financially independent. Initially you’ll work for longer hours, but if you keep at it and do it right, the freedom that being an entrepreneur provides is unmatched.

A start-up also provides a brilliant learning experience. Ashim Seth, founder of Chicago based Seth Business Co. says, “The lack of structure in a start-up is precisely what leads to better learning as compared to big corporations, especially for youngsters.”

Entrepreneurs develop new ideas all the time, but how do you know when to pursue one further? Therefore it is extremely necessary to ask yourself some essential questions before you leap. Do others think my idea is good? Will people pay for it? Why am I the person to make it happen? Henry Ford, with Ford Motor Company, became successful simply by building the first car for the middle class American, thus converting the automobile from a luxury item to a practical conveyance.

So list your options and do plenty of research. Think like the customer. Analyze the competition. Build your own idea.

However while many new businesses boom, many fail as well. An entrepreneur is required to put his career and financial security on the line and take risks in the name of an idea, spending time as well as capital on an uncertain venture. “Though there is nothing like the satisfaction of knowing you are responsible for your employees’ success, at the beginning you also have to work hard every day to keep them convinced that joining you was the right decision” says Gaurav Kumar, Associate Director, KPMG.

An idea may be too novel, or the market may simply not be ready for a new entry. What is important to understand is that failure is an option. Successful entrepreneurs excel at adapting to new obstacles.

The brick walls are there for a reason. The brick walls are not there to keep us out. The brick walls are there to show us how badly we want something.

Have you ever wanted to do more? To do good? As an entrepreneur you also decide where the profits of your company go. You can fund an NGO, or a charity, or even hire the homeless. HarVa, founded by BITS Pilani graduate Ajay Chaturvedi in 2008, is the first BPO set up in rural India which has hired and trained 500 women in Haryana as part of its first project.

So decide what you want to do. Make a plan. And work on it every day. Change the world in your own little way.

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6 Ideas for small businesses to monitor and maintain their reputation online

When it comes to business success and overall survival, reputation plays a vital role as it can be your most defining marketing asset. Sustaining your standing in the market is tricky, and therefore it is difficult to maintain a good reputation online. In this digital era, there is hardly any business that does not have an online presence. The increased trends in the use of social media have furnished an open expression of opinions on online forums. Although marketing experts advise business owners to direct their focus towards managing ratings online and garnering good customer reviews, there is no denying the fact that the kind of impact that your reputation makes is not one that can be saved simply by analyses and feedback.

Every brand has to face criticism, especially online. The trick to dealing with this is a good management strategy: make sure you respond effectively to them, so your business does not get overshadowed by your competitors. So how does a small business monitor and maintain its reputation online? Following is a list of 6 tips that you can use to build and monitor your business reputation.

Pay Attention to Reviews

Reviews are all around us. When people
search for any business online, there are many
reviews that come up discussing the company’s product or service; some
are good, others not so much. It is best to acknowledge the presence of these
reviews and then move forward with a development strategy of how to confront
them. Many times we have to deal with feedback that we do not necessarily
appreciate, but it is the negative
reviews that enable us to work on our shortcomings.

Reputation Market Audits and
Monitoring

Online reputation monitoring is an
understated and rather crucial aspect of a business strategy. You must first know about what is the general
consensus about your business. Google your business and brand name, website
URL, product links, and much more to get a proper insight into the general
established opinion. After concluding all the results, you can start to
actively work on monitoring your company’s reviews and the online
word-of-mouth.

There are many tools that you can employ to help you with this task. These tools inform you with alerts every time a review has been generated. Specialized marketing software programs also help in online reputation monitoring and management.  Get to Know your customers’ views about you by setting up alerts and respond to them immediately, in case something negative comes up.

Address both the Positives and the
Negatives

Before investing their money into
something, consumers first look into what the business has to offer and therefore encounter reviews. As a business owner, you must ensure that you
generate positive reviews that are both relevant and find a place in the highest
spot to increase visibility. The chances that a customer will read a review on
top, as opposed to one lost somewhere in the middle, are obviously high. Ensure
that the positive reviews are somewhat recent because no one wants to read an
outdated version. If the most recent reviews on your website are positive, you
are already half way there in terms of
bagging that client.

Negative reviews shake a consumer’s trust. The most effective way to deal with an unfavorable review is to respond to it as actively as you can. Addressing them publicly and efficiently enables your client to feel cared for and also make them feel like their opinion is valued by you. Diffuse the situation privately and upon resolving, politely ask them to make amends to the initial negative comments. Do not let even a single remark hold you down.

Claim Local Listings

Claiming your local business listings will
allow you to keep an eye on what others are saying. Make sure that the
information regarding your business is correct because directories like Yelp
and Google My Business provide your consumers with a platform to leave their reviews
about your business. Claiming listings on online business directories and
review sites will enable you to stay up to date with the latest ranking of your online presence.

Ask for Feedback

Asking for reviews is not a bad thing
because your customers make for the best advocates. After doing business with
them, ask them for their feedback. This
will allow you as a business owner to better comprehend the consumer’s needs
and thus work on those lacking aspects to instigate improvement. This gesture
also makes your customer feel valued and important as you are prioritizing their
satisfaction over everything else. A little note at the end or a pop-up survey to address the question always
helps with this task. Be sure to watch out for too many evaluations as this may
spark an anti-spam algorithm that can filter out your reviews by mistaking it
for spam.

Social Media Promotion

Everyone loves good feedback, so when you do get one, make sure to save it. Posting customer reviews not only gives you and your company the much-needed confidence boost, but it also adds to your credibility as a brand. People often tend to misunderstand ratings for fake reviews. To put an end to that misconception, use proof from your positive analysis and do not be afraid to add your sentiments to it as well. Promote your work on social media and let your market know how important you are to them.

Reputation management is unfortunately something we cannot opt out of.
Many businesses fail to grow simply owing to the lack of good online reputation monitoring and management. A rapidly
expanding sector of online marketing strategy, online reputation management can
make or break a business; be it in terms of
generated revenue, repairing damages or in the form of a neglected online
presence. Start working on your business repute management plan today to help
your small business evolve into something bigger.

ABOUT Alycia Gordan

Alycia Gordan is a
freelance writer who loves to read and write articles on healthcare technology,
fitness and lifestyle. She is a tech junkie and divides her time between travel
and writing. You can find her on Twitter: @meetalycia

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How to Know You’ve Hired the Right Person

Good hire or bad hire?

You’ve done the hard work, you’ve made the decision and your shiny new hire has finally joined the team.

Great, now what?

So much is written about how to hire great people and what
to look for when hiring. But that is merely the start of the journey.

After the hiring decision is made, the work begins. Your team has grown and, at some stage, you’ll need to decide whether the person you recently hired is adding value. If not, it might be time to make some hard decisions, or even revisit your hiring methods.

Here are five powerful indicators that you’ve made the right choice.

1. Dedication

“Things may come to those who wait, but only the things left by those who hustle.”

– Abraham Lincoln

There is a lot of talk about hustling in the startup community. It’s a badge of honor. But hustling is not a skill, it’s a behavior. It is therefore a choice.

Every startup hopes its team members will make that choice every day.

You can encourage hustling by communicating your company’s vision and values, as well as creating a collaborative and fun work environment.

Without those things, even the best hustler may run out of steam.

When people buy into your company’s vision, they are more likely to become dedicated to your team. A dedicated team member is an excellent outcome, but it takes both sides to make that happen.

Making the right hiring decision isn’t just about hiring someone who is great in isolation.Rather, it’s about hiring someone who is great for your team. In other words, a great hire is someone who will eventually become dedicated to your team.

Dedication looks pretty much like hustling, but it’s sustainable. So look for sustained and purposeful effort. It’s a good indicator of both performance and engagement.

2. Initiative

“Initiative is doing the right things without being told.”

– Elbert Hubbard

Having people who can do things well without being told is a gift.

In his article, One Behavior Separates The Successful From The Average, Benjamin P. Hardy describes people who take initiative as follows:

“They don’t need to be managed in all things. They don’t just do the job, they do it right and complete. They also influence the direction for how certain ideas and projects go.”

But it’s not enough to just do things well. After all,that’s what is expected. It’s about doing the right things well. Knowing which things to prioritize requires good judgment. Initiative coupled with bad judgment can be counterproductive.

When people take initiative, productivity increases and the confidence goes up. Team members know they can rely on each other to get things done.

3. Cultural Stretch

“Knowledge will give you power, but character respect.”

– Bruce Lee

In his article, Hire for Cultural Fitness, Not Just Cultural Fit, Gustavo Razzetti argues that good hires should make the culture stretch, not just adapt to it.

That’s a great perspective. When new hires form independent relationships with other team members, and impact them in a positive way, you can be sure that your culture is stretching. It’s evidence that they are adding something, not just assimilating.

It’s a beautiful thing to see the team growing. Not just in numbers, but in intellectual firepower and curiosity.

Any new hire that makes a contribution to the team’s growth is a leader in the making, if not a leader today.

4. Improvement

“We are all born ignorant, but one must work hard to remain stupid.”

– Benjamin Franklin

There is always room for improvement, no matter who you are.

It’s a wonderful feeling to see people improve over time and, for high performers, improvement is not an option, it’s an irresistible desire.

In his article, 76% of high-performance employees say trade mastery, not money, most important in career decisions, William Belk argues that “corporate culture and directive”should encourage team members to develop their skills in the pursuit of mastery. This will result in high levels of engagement and sustained innovation.

Improvement is therefore a strong indicator of performance. Assuming people are set up for success, strong team members will look for opportunities to hone their craft. An ethos of continuous improvement needs to be encouraged and, sometimes, leaders may even need to get out of the way to give the team space.

People with a capacity and willingness to improve their skills become more valuable over time. Rather than having their careers developed for them, improvers create opportunities for themselves. For companies who believe in empowering their teams, constantly-improving team members are obvious assets.

5. Surprise

“Surprise is the greatest gift which life can grant us.”

– Boris Pasternak

Trying to hire people who will surprise us is a contradiction in terms. We hire people to perform certain tasks and we expect them to perform those tasks very well. High performers may exceed our expectations in the quality of their work, but that’s not what I’m referring to here.

Every so often, people do things that catch us off guard. These acts of wonder cannot be found in a job description, they require skills that we don’t necessarily associate with the person who surprised us, and they are not things we would have thought to do ourselves.

It’s something intangible, and there is no point looking for it. But when it happens, we know that we have someone special on our hands.We got more than we bargained for.

Then, You Know It’s Real

“To be natural is such a very difficult pose to keep up.”

– Oscar Wilde

When I reflect on the five indicators of a sound hiring decision – dedication, initiative, cultural stretch, improvement and surprise –what stands out is just how human they are. They are, more or less, what Seth Godin would call “real skills”.

That doesn’t mean that technical skills, which Godin calls
“functional skills”, aren’t valuable.
Of course they are. They are the baseline, the minimum standard.

But it’s the “real skills” that make a new hire stand out. They influence how the work is done, the impact on the rest of the team and the propensity for growth.

When the time comes to assess a hiring decision, it is helpful to look beyond how individual tasks are performed and see each new hire through through a “real skills” lens.In addition to an assessment of performance right now, you’ll get a strong indication of what you’re likely to see in the future.

Omer Molad

Making hiring about merit, not background Co-founder and CEO of Vervoe

The post How to Know You’ve Hired the Right Person appeared first on Entrepreneurship Life.

Entrepreneurs: 5 Things About VCs That You Won’t Learn from Watching Shark Tank

Let’s start with this: ABC’s Shark Tank is a
fantastic show, and there are some moments of real drama that mirror what
actually happens across the world in corporate boardrooms each day. For
example, if you don’t have a realistic valuation or a feasible business plan, then
prepare to get shredded — presuming, of course, that you can get a meeting with
venture capitalists in the first place.

However, there are things about venture capitalists that you won’t learn on Shark Tank — things that will make the difference between bringing your entrepreneurial dream to life, or being forced to find a good bankruptcy attorney to keep your creditors from taking your last dime. (With this in mind, if you do need information about bankruptcy, then read the great blog at charleshuberlaw.com.)

And so, what are the things that you need to
know about venture capitalists, but won’t learn from the University of Shark
Tank? It boils down to five little-known truths: 

Not all self-described venture capitalists are venture capitalists. Some are consultants who try and connect entrepreneurs with venture capitalists, and earn a fee or commission for doing so. While there is nothing inherently wrong with this — some consultants can add real value — it’s essential for you to know whether you’re dealing with the actual person who will (hopefully) write you a check, or if you’re dealing with a middleman.



Not all venture capitalists have the same game plan. For example, some smaller investors may balk if you try and raise more money, since it means they’ll lose control to bigger fish (or make that bigger sharks). On the other end of the spectrum, some major players in the VC space may insist that you go all-in, and either become a unicorn or go bust. If you try and diversify along the way to mitigate your risk (or just maintain your sanity and see your family once in a while) you may be in for a very rude awakening.



Some venture capitalists who want a quick exit down the road may force you to sell your business, even if you’re reaching — or exceeding — your targets and benchmarks. Watch out and be prepared.



Don’t throw a party if venture capitalists start throwing money at you. It could mean that they’re pumping your tires just enough so they can pass the business off to another investor. Hey, they aren’t called sharks for nothing!



Don’t assume that venture capitalists are going to hold your hand and teach you how to run the business. Yes, they may lean forward to close some gaps, because your success is their success. But if start to become a time drain, be prepared to trade for it — either by offering cash or (more likely) control and equity. 

The
Bottom Line

Finding the right venture
capitalist(s) is a critical piece of the puzzle. But you need to know what
you’re getting into. Remember: when you swim with sharks, you either help hunt
for food — or you become food. 

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