Guest Contributor

Outsourcing Business- Tips to Reduce Overhead

August 8, 2012 by Guest Contributor

Outsourcing in Business

Few situations are more unpleasant in business than finding yourself faced with the dreaded spectre of insolvency. Unfortunately, this situation is by no means uncommon. On the contrary, recently released figures from the Australian Securities and Investments Commission have revealed that the number of insolvency court appointments has been on a steady rise from as early as the 2007-2008 fiscal year. However, while there were 9,200 such appointments in five years ago, 2011-2012 saw over 11,700 such cases. To call insolvency a plague of the national business scene would be to spread pointless panic, yet the growing trend is apparent at first glance. So what can a business owner do, to reduce expenses? There are several simple solutions available to any company, but especially appropriate for small enterprises in the modern information age to reduce business overhead and Employment Costs .

Don’t Be Afraid of Outsourcing

Many entrepreneurs and start-up owners prefer to keep everything in-house, out of a poorly understood need to oversee every small step of their business plan. While precaution and daily updated insights are valuable commodities, it is results that matter. An efficient manager should know how and when to delegate responsibility—what is more, they should also figure out how to avoid having staff costs running through the roof. More simply put, there are aspects in any business (account keeping, IT maintenance and legal consultancy spring to mind as prime examples) that are better off outsourced. As online presence is becoming increasingly important for current business-making, it is an equally viable option to pay an expert for handling your website, blog and corporate Social Media accounts. Don’t spend a small fortune on a permanent employee, but rather employ freelancing, while enjoying lower overall costs for possibly better services. In addition to personnel, in the 21st century, it is possible to outsource equipment rentals, and even real estate. [Read more…] about Outsourcing Business- Tips to Reduce Overhead

5 Resume Mistakes to Avoid

August 6, 2012 by Guest Contributor

Resume Mistakes

Resume writing is a lost art, especially as we move into an era where we can find anything we may need online. Many people will do a quick search for resume templates to get the basis for their resume and then simply drop their own information into the prewritten template. While this is fine for the bare bones of crafting a resume, it does nothing in terms of submitting a resume that really stands out from the crowd. When writing your resume, keep these five common mistakes in mind:

Resume Mistake #1.

Not formatting everything perfectly. Formatting can be tricky when writing a resume and it’s easy for parameters to get off, which results in your resume looking sloppy and like it was hurriedly put together. Reformatting may be a nuance to do, but it makes the difference between looking like you care about what is on your resume and looking like you just slapped it together.

Resume Mistake #2.

Crafting a general resume. Not every job is a carbon copy of the next, and your resume shouldn’t be either. Your resume needs to be tailored to reflect your skills, attributes and experience for the position you’re applying for, which means you should take the time to beef up the parts that your prospective employer will find most appealing. You can find these in the job description in the Ad you are responding to. If the job requires someone who is “creative” or “detail oriented” be sure that shows up in your resume. [Read more…] about 5 Resume Mistakes to Avoid

Life Insurance Benefits

July 30, 2012 by Guest Contributor

Company Life Insurance

One of the most essential parts of financial planning is buying the right types of insurance policies. Some companies provide employees with life insurance as a benefit. Usually, it is Term Life insurance and it is based on a multiple of your annual salary. For example, it could be as much as five times your annual salary. Theoretically, this would allow your family to survive for 5 years without you… giving them time to get prepared financially.

So, if you have a spouse or children to worry about, life insurance is a must. But there are disadvantages to employer-provided life insurance. Why would you choose to pay for something you can get for free?

What’s the Difference Between Term and Whole Life Insurance?

The biggest difference between term and whole life insurance is what you get for the premiums you pay. With term life insurance, you or your employer, is paying specifically for a death benefit and nothing more. The insurance company gets a certain amount of money for premiums, and then they give your loved ones a death benefit if you die while the policy is in effect. This usually means while you are employed there. So if you become disabled and can’t work you could end up losing your life insurance just when you need it most. At that point, you may not be eligible for coverage from a new policy.

With a whole life insurance policy, that you own, you get permanent life insurance coverage. This type of policy is going to pay out a death benefit as long as you keep paying your premiums. With a whole life insurance policy, you will be able to provide your family with some kind of financial benefits when you die as long as you keep paying the premiums, even if you aren’t employed. [Read more…] about Life Insurance Benefits

Job Skills: Excel Spreadsheets

July 30, 2012 by Guest Contributor

Editor’s Note:

These days a critical job skill for Success in almost any position other than manual labor or minimum wage jobs is computer skills. Basic computer skills involves wordprocessing (like Microsoft Word^®) or other Office Programs like MS Excel^®, Powerpoint, etc. In this article we are going to look at a skill that every job seeker should have and that is using Microsoft Excel^®. After learning how to enter data into rows and columns one of the next things you will want to do is create a chart using Microsoft Excel^®.

Steps By Step Guide To Create a Chart/Graph in MS Excel^®

Microsoft Excel^® has been widely used around the world as a business application for storing, organizing and manipulating the data of the organization in a systematic format. Nowadays, the use of excel is not only restricted to business uses, but is also used by students and professionals for everything from playing music to training pilots. Despite of availability of other specific use software, people still consider using rows and columns to manage data. This is because the various features and applications offered by excel are familiar, easy to use and readily available.

One easy to use function is the creation of pie charts, graphs and other comparative presentations in Excel. To learn all the key aspects of using excel, you do not need any special training. In this article, we will tell you the step by step procedure to create graphical representations in MS Excel^® 2010.

Steps to Create Charts/Graphs in MS Excel^®

Step 1 – The first step is to launch Excel on your desktop. Simply click on the Start Menu > All Programs > Microsoft Office> Microsoft Excel. Now to begin your work, open a new spreadsheet. It can be done in three ways: [Read more…] about Job Skills: Excel Spreadsheets

Planning for a Carefree Retirement

July 28, 2012 by Guest Contributor

Retirement Planning

By Contrarian Investing

RETIREMENT…

Golden Rules for a Golden Era –

Just bring them into practice,

Reap the harvest of your careful ways

And Breeze through your retirement days!

The longer you have to plan for retirement the easier it will be to attain your retirement goals. If you wait until you are 50 or 55 to start planning you will have to save a much larger percentage of your salary. But if you plan ahead and stay committed to your retirement goals you can still have a happy stress free retirement.

Calculate How Much You Will Need For Retirement-

Consider the age of your planned retirement and estimate the amount of money you will need then for your expenses by considering that you will probably need about 70% to 90% of your before retirement income in order to maintain your present living standards. Be sure to take inflation into consideration– Adjust your estimate to take into consideration the effects of inflation on your cost of living. To do this you can use the Retirement Planning Calculator.

Become Debt Free Before Retiring-

It’s difficult to fund a retirement with huge debts hanging over your head and virtually impossible to actually retire in that condition. So start by living within your means now and clear any debts that you have accumulated. According to the Bureau of labor statistics, the average retiree retires at around 62 and lives about 17 more years. So you have a lot of years to spend in retirement and you need to prepare for them financially. [Read more…] about Planning for a Carefree Retirement

7 Ways Your Business Can Reduce Energy Costs

July 28, 2012 by Guest Contributor

Reduce Energy Costs

Reducing your business energy costs can make a substantial difference in what your operations cost you each month. Whether you are a large or small business, combined with payroll; the cost of water, gas, electricity and other resources are a substantial portion of your expenses. If you are concerned about the rising cost of energy and your ability to remain competitive, there are a few things that you can do to help lower these costs.

Learn about energy savings. When you need to reduce the amount of energy that you are using on a daily basis, there are a few simple things that can make a profound impact. Each company has its own major energy consumers. Large companies generally use florescent lighting so unlike homeowners simply changing your light bulbs to CFLs is probably not an option. But looking at other lighting consumption might be a possibility. Motion detectors can be installed that will automatically turn off lighting when certain business areas are not in use. Policies should be in place to require that minimal lighting be maintained in areas not in use. [Read more…] about 7 Ways Your Business Can Reduce Energy Costs

Job Profile: Russian / English Translator

July 24, 2012 by Guest Contributor

Translators have a tough job to do. Mastering two or more languages is not an easy task. Moreover, it is even more difficult if the language is as tough as Russian. Russian language is considered to be a very significant part of high class literature. It is believed to have a tradition of its own. Translating English to Russian and vice versa is also a very difficult task because of the use of Cyrillic letters, which makes it look like Latin at times. About 150 million people speak Russian in Russia. Although, people in other parts of USSR are also familiar with this language.

Russian dictionary Russian translation—quinn anya (Flickr.com)

Problems while translating English to Russian

A lot of difference between the two languages – When an English to Russian translator tries to translate one language to another, the differences between the two languages cause a major problem. Spelling, grammar and sentences in English are very different from that in Russian. Almost everything about these two languages is different from one another. However, since a lot of people want to learn these two languages, the demand for translators is very high these days. Russian is widely used in the whole world and has a different dialect, lexis and writing style.
Culture – The difference between the culture of Russia and English speaking countries is a major obstacle for a translator. A simple phrase in English may mean a totally different thing for a Russian because of the cultural contexts. Moreover, there are a lot of words and phrases in Russian that are associated with the current status and condition of the country. In order to learn Russian language and efficiently translate it, a translator should gather knowledge about the culture and tradition of Russia. [Read more…] about Job Profile: Russian / English Translator

How Much Should You Borrow to Pay for College?

July 22, 2012 by Guest Contributor

Borrowing for College

With stagnant wage levels and increasing costs of living, higher education has become a fact of life for anyone wanting to get ahead. Rising costs of that education are making it harder for parents and students to meet the costs. The past two years, for instance, have seen tuition inflation averaging eight percent, and tuition is virtually guaranteed to increase by three percent every year, if the last two decades are any indication.

Students have some resources available, and a couple of tricks to minimize costs. Private and university scholarships are still a possibility to reduce the costs. The Pell grant can help with undergraduate expenses, but it has not been increased to meet inflation in recent years. Tax credits are a great resource for parents who want to help their children pay for school. Students are increasingly working part-time while attending full-time classes, and they are completing the first two years of core classes at community colleges or on-line.

Even with these options, most students face borrowing to pay for school and living expenses, or putting off their degree programs in favor of full-time employment. How much debt should students feel comfortable with? How much is too much? Are some loans better than others? Finance provider Sallie Mae offers help for those considering student loans.

Borrowing for College — College—401 K 2012 (Flickr.com)

Remember Why You Borrowed

Students often have difficulty making the transition from high school to college. The latter half of senior year for students planning to attend public universities adds to the confusion with frequent parties and road trips. Student loans can easily become a way of maintaining a particular lifestyle, whether it is eating out regularly, living in classy apartments or buying designer clothes. Every dollar of student loans should be directed to the costs of education. When used to cover housing and food, such as during the more hectic final two years, these costs should be minimized as much as possible.

Make Long-term Goals

A way to help control your use of loans is future orientation. What are your plans after school? Do they include buying a new car or house? Maybe you want to start a family or take a vacation to celebrate? Student loan debt will make all these things more difficult, so minimize the debt. [Read more…] about How Much Should You Borrow to Pay for College?

Payroll Systems for Small Businesses

July 21, 2012 by Guest Contributor

Why do You need a Payroll System?

One of the challenges that comes with starting a new business is figuring out all the systems that you need have in place to run things. If you have any employees, one of the necessary items that you’ll need is a good payroll system. If you have never chosen a payroll system before, it can be a little bit intimidating. Payroll costs are one of your largest business expenses so it pays to choose a payroll system carefully. Here are a few things that you should look for when choosing a payroll system.

Ability to Integrate With Accounting Software

When you are using a payroll system, it needs to be able to integrate into your current accounting system. If you don’t have an accounting system yet, you have a little bit of flexibility when it comes to choosing both of them. Your payroll system needs to be able to download the entries from your accounting system. This will make things a lot easier on you, instead of having to manually enter all the information twice.

Scalable System

You may also want to choose a payroll system that is considered scalable. If you have a payroll system that is highly scalable, it can grow with your business. This makes it possible for you to avoid switching payroll software once your company starts to grow. If your company is highly successful in gross quickly, you don’t want to have to completely redo the payroll system at that point. [Read more…] about Payroll Systems for Small Businesses

Choosing a Professional Resume Writing Service

July 13, 2012 by Guest Contributor

A Professional Resume Writing Service

Hiring an executive resume writing service can often result in more positive application responses than if you write your resume yourself. However, choosing such a service can be a daunting task. Hundreds or more of such services are available online, and it can be difficult to select the right one. Deciding on your hiring criteria before you work with a resume writer will help cut down on the potential stress of paying someone else to write your resume.

Resume Writing Credentials

First, find out whether the resume writer you work with has been certified by a recognized professional organization, such as the Career Management Alliance, Career Directors International, National Resume Writers Association, or the Professional Association of Resume Writers. Several types of certification are available, from basic to master-level.

Additionally, some resume writers possess personal branding certifications, which is important if you want more than just a resume revamp. A personal branding specialist can help you create a professional online presence that can establish you as an expert in your field and help you land your next position.

The Resume Writer’s Background

In addition to having the credentials necessary to write a professional resume, your resume writer should be familiar with your industry. If possible, work with a resume writer who has some work experience in your field.

Resume writers with experience in human resources can also be very helpful. They know what hiring managers want to see. If your resume writer does not have an HR background or experience in your field, it does not mean that your resume will not be accurate, precise or well-written. If you can find one that has one or both of these qualities, however, your resume is more likely to possess just enough of a unique edge to put your resume on the top of the pile. [Read more…] about Choosing a Professional Resume Writing Service