Small business owners are wise to be jacks of all trades. It's helpful to have a base knowledge of accounting, law, and marketing, even if their true passions lie elsewhere. And until they reach a certain breaking point, a single-person business is a smart way to keep down overhead and reap all the (eventual) profit. But what happens when entrepreneurs are working twenty-hour days and need twelve cups of coffee to stay alert enough to answer the phone? What they need is trustworthy employees and an excellent manager, so that they can focus on the stuff they were born to do.
The scary part is finding the right team. It's kind of like hiring a nanny to watch your young child for the first time. Are good references and a good interview enough to prove that your precious cargo will be in excellent care? A good manager will instill this trust almost immediately. Here are some tips on how to recognize a partner that will be with you for the long haul.
They don't flower you with empty and general phrases.
Job interviews, even though we might like to think so, are not representative of how an employee will behave at all times. Know that potential managerial candidates will be pulling out all of their tricks to get noticed. But it's up to a good employer to be able to parse conversation for disingenuous or negative words as well as body language. They could fulfill a number of generic "good" qualities like a high level of experience and creativity, but what will make them stand out is if they not only talk about their own accomplishments, but talk about how they want to help the company. They need to demonstrate familiarity with the history of your business and professional endeavors, and a specific interest in this sector (and you).
Empty phrases such as, "I was asked to do a number of leadership tasks at which I excelled" are yawn-worthy. A manager will not tell you how they will behave in this position, but will show you.
They also have to have a team-oriented spirit, rather than an individual one. According to Forbes's Jacob Morgan, the model is changing from a hierarchy to a level playing field: "In the past managers said 'jump' and the employees said, 'how high?' Now, the managers are jumping with employees." You will be able to recognize this ability in your potential manager if he or she mentions words like "we" and "team" instead of solely, "I." It's important that your manager is a leader, but also that he or she appreciates the importance of business development: that ultimately, your success is dependent on more than one person.
They share your ambitions and goals.
Your manager doesn't have to, and should not, be your clone. But he or she should share your business ethics and values, and see the same end goal. You want to find someone that will be on your side, though disagreement should not be seen as a negative. In fact, finding someone that will disagree with you on certain points can be a ripe opportunity to explore new avenues and test new strategies you couldn't have thought up on your own. We seek romantic partners that share our values but that are not the same as us. We should look at our business partners with these same criteria in mind.
If you are an employer that avoids confrontation, it will be a good idea to seek a manager that is direct and who efficiently (and peacefully) passes down concerns to employees. Know your weaknesses and seek out a person that will make up for them.
Sharing ambitions and goals for the company will allow you to confide in your manager freely, and perhaps even consider making him or her a business partner or successor to the business in due course.
They can relate to and inspire their team.
A manager is only as good as how much respect he or she has. That means, a manager cannot work in a vacuum. Having "people skills" is not enough for someone that will stick around for long. He or she has to connect to their team so that they feel always encouraged and motivated to perform. By employing concrete deliverables and making informed decisions, a manager can both increase the efficiency of his or her team and make meaningful relationships.
According to Aaron Schwartz of Modify Watches, "empathy" is one of the most important qualities when looking for an exceptional manager. He says, "Strong managers work well with their teams to set priorities, and then encourage their direct reports to go execute them...It's critical that a manager cares about her team—and that the team knows this—to keep everyone positive and working together." And we all know that a happy group of employees is one ingredient to a successful business.
Hiring a manager is a huge job, but the rewards will be fruitful. Knowing that you can trust someone to take care of the daily tasks while you map out the future of the business is an invaluable resource.
For more on how to get there, click here.
Airbnb offers an affordable option for people looking to be more comfortable as they travel.
However, there are downsides to staying in a host's home rather than a hotel. Whereas hotels are designed for constant streams of visitors and often have furniture built to last, at an Airbnb, you may be staying on old or cheap furniture that a host is using in order to maximize their profits.
And while most reputable hotels will have regular room inspections from staff to check for any wear and tear, Airbnb damage disputes are oftentimes he said, she said situations. If you are in an Airbnb and something breaks, there are a few steps you should take in order to ensure that you are not on the hook for damages out of your control.
If you're keeping tabs on the art and tech worlds, you've probably been hearing whispers about "NFTs" for the past month. Just over the past week they've entered the mainstream lexicon.
Twitter founder Jack Dorsey made the news for selling his first ever tweet. The app has been teasing paid subscription models and newsletter-like features, but tweets for sale is "the next frontier."
just setting up my twttr— jack (@jack)1142974214.0
The 2006 tweet went up for auction as an NFT, and the current bid is $2.5 Million. But what does it mean to own that? Why would anyone want to? And what even is an NFT?
Long gone are the days when the majority of Americans dreamed about owning a home with a white picket fence.
The traditional American Dream may be on its deathbed, but that doesn't mean a core component of the vision can't survive. It simply takes a diverse perspective. People can still believe they can attain their own vision of success in society with hard work, knowledge, and risk-taking. Investing in today's American Dream may literally mean investing money in our modern economy, starting with our infrastructure.
Real estate investing in particular is a lucrative method that can boost income and secure a better financial future for many. There's always risk involved, but the payoffs can far outweigh the uncertainty. Selecting solid financial investments is about confidence and competence. If you're looking for some advice on this kind of investment, here are a few savvy tips for new real estate investors.
Stick To a Specific Strategy or Niche
Real estate is a challenging sphere of the business world, one that requires several key skills: groundwork knowledge, networking, perseverance, and organization. True knowledge of the real estate market will come with time and experience, but it's a smart idea to select one area of the market and stick to it. This is the best way to attain in-depth familiarity with your specific niche.
First, choose a geographical area close by and then a niche strategy within it, such as house flips, rental rehabs, or residential or commercial properties. By doing so, you can become aware of current inner working conditions in the market and you'll have a better idea of how these trends may change in the future.
Be Vigilant About Viable Financing Options
While it takes money to make money, you don't have to use all your own money. A common misconception about real estate investing is that you must be wealthy to start off. This isn't straight fact, however. A majority of people can test the waters of real estate investing without a lot of initial cash in their pocket.
Aside from traditional financing options from banks and institutions, private lending options can be worthy solutions. Hard money lenders are popular, reasonable choices, and they tend to have fewer qualification requirements upfront. However, be sure to strategically choose a hard money lender to find the best possible fit.
Master the Art of Finding Good Deals
There may be hundreds of thousands of available properties for sale on the current market, but the bulk of them will never amount to the final money-making result you desire. Another great tip for new real estate investors is to use good math to estimate profit. Taking risks is part of the process, but you have the ability to analyze properties and use networking sources to find the greatest deal. You can't win every deal, but you can steadily work towards a thriving financial future.