Current State of the U.S. Economy, Career on Brokering Mortgages, and a Positive Perspective

U.S. Negative GDP 4Q 2008

The U.S. posted a negative 3.8% GDP on the last quarter of 2008 according to the latest data from the Department of Commerce. Although this figure is still an initial estimate, it is in fact very alarming. We were all expecting that the holiday season will somehow trigger spending but it was not so.

Washington Post was correct to observe that this scenario simply “…shows how a global credit crunch, a weak U.S. real estate market, and a decline in consumer spending have combined to undercut economic growth.” Then you still have the price of petrol products increasing little by little. While it is admirable that the new President is determined to cut the U.S. dependence on foreign-sourced oil, the average American is still very dependent on using his own car rather than finding and using alternative mode of transportation.

Default Mortgages

On another note, many are still defaulting their mortgages. This is rather hard for mortgage brokers who rely on this specific sector of the finance industry. Still, not to mention, many are still losing their jobs. Nonetheless, would one consider a career as a mortgage broker or mortgage banker, running net mortgage branches while the economy is still spiraling down? Why not. What you need is a reliable partner, like www.brightgreenmortgage.com, who will treat you as one, help you run your business, and achieve your full potential in this area. It is worth the try, especially if you have an indomitable entrepreneurial spirit, “ proven performance, problem solving & relationship building skills, along with a solid reputation, and uncompromising ethics. “

Positive Perspective in Crisis

In my simple mind, any crisis (particularly, this recession) are but opportunities wrapped in rough edges that needed to be chipped away. Sometimes, it is a matter of perspective. Numbers (like a negative GDP, or a very low sales turnover on your business) can sometimes deter us. However, for some, the same numbers can actually propel them to stretch and achieve more.

How about you; what is your take on these things?

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About the Author

Nor Franco is the Managing Director and Virtual CEO of nextManager.net. He's a former corporate executive whose passion is bringing out the full potential of HR in Businesses. This time that passion is pursued through Virtual Management. He writes and blogs about his management views and insights here. Follow him on Twitter.

Web Hosting Tutorials for Small Business Owners

"Personally, I am always ready to learn, although I do not always like being taught." ~Winston Churchill

That made Churchill a great man. However, in the same token, an entrepreneur who is always willing to learn new things is destined to succeed.

Moving on.

I think, two of the most daunting and intimidating tasks when a small business owner attempts to join the bandwagon of online entrepreneurs are setting-up their websites and managing it. These involve designing the site per se, writing relevant and SEO-friendly content, and hosting it.

However, with the high cost of hiring (not to mention, high salary demand) IT personnel to monitor, update, and manage a website, I have seen more and more of these newbie online entrepreneurs taking the opportunity to learn the rudiments of website management and web hosting administration. Well, I must admit, that it is not easy for some, like me.

One of my weblogs is self-hosted for more than a year now. Honestly, to date I am still fumbling through the cPanel. I fear making errors (some irreversible) that may lead to creating chaos in my database and/or accidentally deleting those important data. It is intimidating, mind you. I am still learning.

Fortunately, WebHostingRating offers web hosting tutorials for non-techie small business owners, or those who are new to online business management. In your own pacing, you can learn the basics of webhosting and website management from their database of useful tutorial articles. Other than learning the fundamentals of web hosting, you will be introduced also to such important topics in ecommerce, scripting or coding, FTPs, email management, CMS (Content Management Systems), website security, multiple domain hosting, online advertising, blogging, and more.

Whilst more and more businesses are trying to corner a fraction of the internet market and it is becoming easier to put-up a site, you need not wary –learn the basics. And the good news is, these information are free and readily available to you.

WHAT'S NEXT? Get your updates by emailor via RSS.Follow us on Twitteror like us on Facebook. Visit ourFREE Business Resourcespage.

About the Author

Nor Franco is the Managing Director and Virtual CEO of nextManager.net. He's a former corporate executive whose passion is bringing out the full potential of HR in Businesses. This time that passion is pursued through Virtual Management. He writes and blogs about his management views and insights here. Follow him on Twitter.

What does it take to succeed as an Entrepreneur?

I owe my success to having listened respectfully to the very best advice, and then going away and doing the exact opposite. ~G. K. Chesterton

Chesterton was an accomplished writer and journalist, and what he said might just be true for him but not for a young entrepreneur like me. I seek and listen to advices from others, especially those who are experts and successful in their fields, and try to do what they say.

Success in entrepreneurship, or in any field of endeavor, entails the willingness to learn, to fail, and learn from that failure.

It also requires unwavering commitment to succeed. Because owning and managing your business is never easy. In this, I’d like to adhere more to what Mahatma Gandhi, India’s famous non-violent political and spiritual leader, has to say:

Every worthwhile accomplishment, big or little, has its stages of drudgery and triumph; a beginning, a struggle and a victory.

So true!

This now brings me to my main treatise here: what does it take to succeed as an entrepreneur?

Success in Entrepreneurship knows no short cuts

Seasoned and successful entrepreneurs will readily tell you that there are no short cuts to entrepreneurial success. In fact, the entrepreneur’s road is arduous, long, and less traveled by. While every entrepreneur’s dream is overnight success, that is not so. In fact, there is really none! On the one hand, there are many risks involve, greater odds to face, and slimmer chances of success. On the other, when you have surmounted all of those, the rewards are far richer. But then again, there no short cuts or even luck in entrepreneurship.

Success in Entrepreneurship knows no secrets

Everything an ambitious entrepreneur needs to know is already made available. Many books and case studies were already published on how you will do it right. Just search for the keywords business or entrepreneur success, the search engine will give more than 40 million results! The ‘secrets’ to success are there available for the picking. But the most common problem, I noticed, is either we ignore them or simply prefer to take the “quick-to-riches” schemes as preached by those who do not regard hardwork and patience as qualities indispensable to those who want to succeed in business.

Have you ever wanted to quit your day-time job and start your own business? Or, were you retrenched or laid-off and so you are considering entrepreneurship as your new career? Or you probably have started a small business already and are struggling to keep it afloat? Gleaning from the vast resources available out there, here are four (4) basic qualities (common to all) you need to have to succeed as an entrepreneur:

Successful Entrepreneurs are Committed to Succeed

If you have not set your mind to succeed, then I can bet my whole2008 income that you will fail even before you started. Successful entrepreneurs are not only committed to their business ideas and enterprises but these are people who are determined to succeed regardless of the odds. The entrepreneurial path is not easy as some will claim. Your commitment to succeed will be your impetus during trying times, for without which, you will fall-out on the first high wind that hits you.

Successful Entrepreneurs Value Hard Work

Hard work is the willingness to take the pains of doing everything necessary to make your business work. If you are into young entrepreneurship venture, you must first rely on yourself before you rely on others for help. Their supports will be needed later when your business has overgrown you. There are so many things to do in a day and not many of you to do it.

The most trying period for an entrepreneur is when he is starting out. It is during the first few months when you have to do everything yourself because cash may not be enough to hire additional help. More often, you engaged the services of your family members (for free!) to help you out in your day-to-day business operations. But most of the time, you will be doing most of the work. The big difference between being an employee and a business owner (now an employer) is your regard for time and output. Now, you are no longer bound by an 8 hour work period with 2 hours break within, 5 days a week. You work longer hours, and sometimes 7 days a week. More so, now you do not deliver just to please your boss (because you are now the boss of your own) but to grow your business and satisfy your customers. This only means, hard work, hard work, and more hard work.

Successful Entrepreneurs are Willing to Learn and Adapt to Change

The way of doing business continues to evolve. As an entrepreneur, you need to catch up. You do not need to learn only about your business, but your market and your competitors as well. You need to learn new technologies that will help you gain competitive edge. You need to try new way of doings things. You need to recognize mistakes and wrong decisions, embrace failures, and learn from them. Never remain stagnant by continuing education. Read trade publications and good books.

Successful Entrepreneurs Know What is 'Smart Work'

Having the zest for learning new things will produce the ability to work smartly. Smart work is putting forth time, money, and energy on the 20% most important things of your business. Identify them. More often, when we are confronted with so many things to do in so a little time, we end up attending to the 80% less important aspects of our business, and neglecting the most important ones that generate the %80 of our profits. Simply put, smart work is the ability to manage business priorities. I suggest that you relearn the basics of Pareto Principle of Economics again, for that is the foundation of smart work, or should I say –smart entrepreneurship.

Again, let me reiterate, these are no secrets. These are obvious principles or tips that you need to take on. So what does it take to succeed as an entrepreneur? You need to be hardworking, willing to learn, know how to prioritize, and must be committed to succeed!

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About the Author

Nor Franco is the Managing Director and Virtual CEO of nextManager.net. He's a former corporate executive whose passion is bringing out the full potential of HR in Businesses. This time that passion is pursued through Virtual Management. He writes and blogs about his management views and insights here. Follow him on Twitter.

Cost Effective Leads Generation for Small Businesses

Many continue to join the ranks of unemployed. However, it is admirable that many refused to succumb to the economic crisis that beset us all. Some of these people chose a path that is less likely will be taken by many –small business. But small business success comes with a high price of hardwork, patience, and the ability to market.

It is so easy to assume that when your business is already in place, when you have already produced the products you are going to sell, when you have refined the mechanics on how you are going to serve your customers’ needs and requirements, when you carefully packaged the value that comes with the price of your product or service, all will go smoothly as planned.

I wish, it were that easy. But it’s not!

Those are all but necessary preparations for an effective marketing of your business. Whether you will be selling tangible or intangible products like loans and mortgages, consultancy services, and the like, you need to generate leads that can be converted into buying customers, and eventually loyal patrons. This is the difficult part.

I supposed that you have carefully studied your target or niche market and you are ready to sell to them. Here is the bad news: they will not come to you. You have to go to them! You have to let them know that your small business exists and that you have something that they want and need which they will not be able to get elsewhere. I am not referring to an expensive (and more often ineffective) advertising campaign here. I am referring to the conventional yet effective means: direct mail and telemarketing. These two practical methods are still the best and most cost-effective way of generating sales leads.

Leads generation is the lifeblood of an effective marketing campaign. And more often, I must admit, this is something that is overlooked by enthusiastic small business neophytes. However, this can easily be remedied through a third party, like DCMG, who will generate the leads for you. This is called outsourcing. They can virtually generate all the type of leads you need such as business leads, pre-need and insurance leads, loan modification leads, project consultancy leads, among others. You definitely need the lists that they can provide, so that you can start converting them into satisfied, and eventually, loyal customers.

Nothing is easy in small business management. But if you are determined to succeed, you will have greater chances if you are diligent in filling your pipelines with quality sales leads that you can convert, any way you want it done.

WHAT'S NEXT? Get your updates by emailor via RSS.Follow us on Twitteror like us on Facebook. Visit ourFREE Business Resourcespage.

About the Author

Nor Franco is the Managing Director and Virtual CEO of nextManager.net. He's a former corporate executive whose passion is bringing out the full potential of HR in Businesses. This time that passion is pursued through Virtual Management. He writes and blogs about his management views and insights here. Follow him on Twitter.

Two Cost Effective Ways of Training and Developing Employees

I have mentioned on my previous post that more often training and development programs are shunned and treated as additional operational overhead, if not a real financial burden to the company. I cannot blame them. Because in the first place, training programs are expensive. However, this should not deter HRM managers and small business owners to think of creative and effective ways of developing employees. In fact, employees can also develop skills and increase their competencies by simply interacting with highly skilled and experienced employees. This can easily be initiated through mentoring and coaching. To date, these are still the two most cost effective ways of training and developing employees.

What is Mentoring?

A good and concise definition is as follows:

“Simply stated, mentoring is a process in which a more experienced person supports and aids a less experienced person in his/her professional or personal development. Mentoring has been traced back to its roots in Greek literature, beginning with The Odyssey, when Odysseus’ friend and advisor, Mentor, served as the king’s son’s teacher and guardian while the king was away. Just as Mentor served as a teacher, advisor, and role model in Homer’s masterpiece, mentors today serve in much the same way.”

In the corporate or business setting, a mentor is an experienced (more often, expert in a specific area of business operations), senior employee who helps develop a less experienced employee (the protégé). Usually, mentoring initiatives develop informally as a result of interest or values shared by the mentor and protégé. Research suggests that employees with certain personality characteristics (like emotional stability, the ability to adapt their behavior based on the situation, and high needs for power and achievement) are more likely to seek a mentor and get guidance therefrom. However, it is better if mentoring initiatives are developed as planned developmental programs for employees with lesser experience and expertise.

Developing Successful Mentoring Programs

When mentoring programs are formally initiated by the organization, one major advantage is that they ensure that employees can participate in wider latitude. In addition, in this way, the employees (both mentor and protégé) involve in the process know what is expected of them. Therefore, they know if certain goals or criteria are met over a certain period.

In relation to that, it is recommended that mentors should be chosen based on interpersonal and technical skills. They also need to be trained. As I have always mentioned to my trainees, a good musician does not necessarily mean a good music ‘maestro’ or teacher. However, a good ‘maestro’ is a definitely a good musician. In the same way, it takes different sets of skills to become a good mentor. Hence, mentors should at least be trained on the basic knowledge and skills required for an effective mentoring.

By the way, it should be noted here that the key to successful mentoring programs is when the employees involve spend more time interacting through any effective medium available. In this way, the protégé’s progress is easily monitored.

What is Coaching?

“Coaching” can be defined as “a developmental strategy that enables people to meet their goals for improved performance, growth or career enhancement.”

Again, in the business context, a coach is a peer, a supervisor or manager who works with an employee to motivate him, help him develop skills, and provide reinforcement and feedback. Unlike mentoring, coaching is more of advisory in nature and focuses on the behavioral aspects of the employee rather than on the technical side. For example, a supervisor who is hurting his relationships with his subordinates by his strong and rigid personality. His manager stepped in to advise her on the ineffectiveness of his attitudes and approach towards his subordinates. Through coaching over a few weeks, this supervisor learned how relate well to his subordinates.

Also, unlike mentoring, coaching is performance oriented. Meaning, the coach assigned takes an active role of telling the employee concerned of areas needing improvement. The role provides resources available (such formal training courses or a mentor) that may otherwise not easily recognized as necessary by the employee.

Developing Successful Coaching Programs

The success of coaching programs hinges on how well the supervisors or managers involve understand and have direct influence to the employees they are managing. They need to establish good rapport and inspire confidence, otherwise they will be perceived like “drill sergeants” who demand obedience. Coaching is delicate because you will be confronting behavioral and performance issues. As such, to successfully effect change, you need to be trustworthy as a coach.

Benefits of Mentoring and Coaching Approaches to Employees’ Training and Development

1. Both the coach/mentors and employees involve benefits from the process. When formalized, it means the relationships built will allow for the development of desired skills and competencies for both parties. As they say, “iron sharpens iron.”
2. Camaraderie that is built on trust and respects is developed and strengthened. Lateral and vertical interpersonal skills are also honed thereby creating harmonious work relationships.
3. For the organization as whole, this means higher employees morale, improved productivity, better performance, and most of all, increased profitability.

WHAT'S NEXT? Get your updates by emailor via RSS.Follow us on Twitteror like us on Facebook. Visit ourFREE Business Resourcespage.

About the Author

Nor Franco is the Managing Director and Virtual CEO of nextManager.net. He's a former corporate executive whose passion is bringing out the full potential of HR in Businesses. This time that passion is pursued through Virtual Management. He writes and blogs about his management views and insights here. Follow him on Twitter.

Reduce Operational Cost through Business Process Outsourcing (BPO)

To some employees, especially in unionized organizations, business process outsourcing or BPO is ant-job security or tenure. On a few occasions, some of my clients are reluctant to try this because of the wrong perceptions engrained in the minds of their workforce. While it is true that BPO can help the company streamline its personnel, but it will never endanger their job security.

Competitiveness is the new business game. A business will never succeed unless it can deliver quality and JIT (Just in Time) products or services. That is why in recent years, more and more companies have started considering BPO providers (like AMS, a third party fulfillment company) to help them achieve visibility into their global business operations, stay competitive, increase their productivity, and boost their performance while reducing their operational costs.

In a sluggish economy like such as this, cost-effectiveness is the driving force, if not the main reason, for outsourcing important business processes. I think, this is the way to go if at least you need to survive this recession. But due diligence or care must be religiously applied. In most cases, it is recommended that you conduct an audit of your important business processes and procedures. Among these that can easily be considered for review and outsourcing are your after sale service, off-site installations, order fulfillment, warehousing, utility maintenance, product fulfillment, packaging, IT, and accounting.

Actually, in brief, the key to effective BPO, is being able to pinpoint which process need to be outsourced without displacing key personnel and where you can focus more on your core business processes and thereby enhance your competitiveness. More importantly, if your organization is able to formulate a successful business outsourcing strategy, it will be able to outdo its competitors. This is because BPOs provide more efficient services (due to their specialization), access to resources that may be beyond your organization’s capability, and most of all increase your business’ profitability.

WHAT'S NEXT? Get your updates by emailor via RSS.Follow us on Twitteror like us on Facebook. Visit ourFREE Business Resourcespage.

About the Author

Nor Franco is the Managing Director and Virtual CEO of nextManager.net. He's a former corporate executive whose passion is bringing out the full potential of HR in Businesses. This time that passion is pursued through Virtual Management. He writes and blogs about his management views and insights here. Follow him on Twitter.

A Brief on Active Directory Management Application

I am not much of an IT guy although I spent a couple of years overseeing an IT Department for a Japanese manufacturing company on an interim capacity while we are still looking for a qualified IT Manager. It was both exciting and a pleasant learning experience. My having a dual role as HR Manager and Head of PPC (Production Planning and Control) was one of the major reasons why the job was delegated to me by our shachou (company president).

One of the priority tasks that befell me was to look for an application or solution that would simplify Active Directory (AD) management via exchange tools. A colleague introduced me to Ensim Unify Enterprise Edition, assuring me that it was the right solution we were looking for. Ensim is the leading provider of infrastructure management software enabling; access control, identity management, change audit & reporting, and automated provisioning for enterprises and service providers; hence, I was confident that it would deliver.

It did! In fact, installation of the solution over our servers and our LAN was smooth and easy and so the roll out process was executed earlier than scheduled. More so, we find it even very easy to create new AD users because of its built-in user template functions and distribution list management features. Security wise, it is robust and very reliable. Overall, because of the scalability and extensibility it provided , it greatly helped our company improve its market advantage and added more service value to our customers. If you are looking for an exchange management systems that truly deliver, you might want to consider one of Ensim’s applications for your business.

WHAT'S NEXT? Get your updates by emailor via RSS.Follow us on Twitteror like us on Facebook. Visit ourFREE Business Resourcespage.

About the Author

Nor Franco is the Managing Director and Virtual CEO of nextManager.net. He's a former corporate executive whose passion is bringing out the full potential of HR in Businesses. This time that passion is pursued through Virtual Management. He writes and blogs about his management views and insights here. Follow him on Twitter.

Simultaneous Job Offers - what to do?

In the life of the jobseeker, there are periods of scarcity and periods of turmoil. When job offers finally come, they seem to come all at once. Perhaps we are blessed with an aura of employability? Whatever the lure, you can leverage the situation to improve whatever offer you finally decide to accept. A couple of things to keep in mind:

1. Know what you want

Unless one offer is clearly superior in many ways to the other, you may find that setting your priorities can be tricky. After all, you’ve applied to these vacancies so something drew you to them in the first place. There could be pros and cons attached to these job offers. One of them will pay more, but in the other the work might seem more interesting to you or suggest a better career perspective. One will mean less hours, but in the other you will like the people. One will be closer to your home.

If you know what you want, you will be able to set an order of preference. Don’t be confused by assurances of future opportunities of promotion or the promise of a company parking space.

2. Negotiate

Once you have your priorities straight, think about in what ways each offer is not fully convincing. Would Option 2 be more attractive than Offer 1 if the salary was 20% higher? In that case, you don’t risk anything by asking for it. Can you bring to the table some aspects of Offer 1 that are bothering you? Your negotiation room will vary according to the relative value of the offers to you, but whatever room you have.. use it.

3. Time is on your side

Delay Offer 2 if you need to wait for Offer 1 to come through. What if you can’t delay making a final decision on Offer 2, while Offer 1 is still undefined or in the negotiation stage? If there is a risk that Offer 1 might fall, then you should accept Offer 2. If, a few days later, Offer 1 materializes, you can leave Company 2 and take up Offer 1.

Messy, but life is messy. Most times, companies will have a backup choice. It’s not personal, it’s business

__________

This is a guest post from Entervista Free Video Job Interviews. Article courtesy of the Recruiting Blogswap, a content exchange service sponsored by CollegeRecruiter.com, a leading site for college students looking for internships and recent graduates searching for entry level jobs and other career opportunities.

Finding Great Job Opportunities in Recession

More than half a million lost their jobs in November according to the report released by the US Department of Labor which caused the stock market to dip sharply again in a knee jerk reaction. In the latest report they released, the unemployment rate jumped from 6.7% in November to 7.0% in December 2008, which is considered the highest in the last 15 years. If there is any consolation, if you might still want that as a consolation, President-elect Obama’s economic team are bent into turning this figure around with a giant bailout package that will somehow jump start this economy. However, many more are expected to lose their jobs this year. It will take time for real economic recovery to come. If more people are losing their jobs, how can you find great job opportunities in recession?

The current economic prognosis is bad, but there should be no reason to lose hope. I believe that the ancient Chinese traders were right when they say that there are actually “opportunities in crisis” such are there are possible job opportunities in this global economic meltdown. The key is finding these opportunities and grabbing them. More so, even if more people are joining the ranks of the unemployed, you can still find great job opportunities if you try to find them in the right places, of course. I have learned in my career as an HRM practitioners that those who can easily get a job are those who are proactive and a are really looking. Look and ye shall find! Seems obvious huh?

While you are at it, here are some pointers you might want to consider:

1. Look for jobs in the internet

Job hunting and sending out applications online is more time efficient and cost-effective.

2. Refine your resume to highlight knowledge, skills, and other professional strengths

Highlighting these things add perceive value to the organization you are eyeing. Do not write one resume that fits all. Customized each resume. You need alter the whole form, just focus on your competency highlights.

3. Rehearse your answers

Review and rehearse your responses for possible interview questions with someone. Ask their opinions how you can improve your answers or presentations.

4. Be proactive.

Be the solution! Apply to organizations you deemed would need your expertise even if they were not hiring. Most progressive companies with good HRM Department usually gives chances to people who present themselves as problem solvers.

5. Do your numbers!

Meaning, apply to as many organizations as you can. Do not just zeroed on one or two, so that you will have the upper hand in deciding which job interview to prioritize, and ultimately which job offer to accept.

This may sound too simplistic and easy; but the key to job hunting success is hard work and perseverance. Do not wait for those calls, do the follow-up yourself and continue sending those resumes.

Good luck on your job hunting folks!

WHAT'S NEXT? Get your updates by emailor via RSS.Follow us on Twitteror like us on Facebook. Visit ourFREE Business Resourcespage.

About the Author

Nor Franco is the Managing Director and Virtual CEO of nextManager.net. He's a former corporate executive whose passion is bringing out the full potential of HR in Businesses. This time that passion is pursued through Virtual Management. He writes and blogs about his management views and insights here. Follow him on Twitter.