Entrepreneurs create new opportunities but the process of moving from an idea to an actual successful business. It can be difficult for investors to put their resources into a company that hasn't yet moved to the point where they can make reasonable risk assessment and has a solid chance at success. States like New Mexico are trying new things but should not neglect the fundamentals of economic growth.
Personally, I love innovation centers and they can be hugely helpful for budding business people. We just are not sure what the relationship versus cost and benefit is. There should be more done than to simply build these innovative warehouses.
The state is cheap and it is cost effective to start a business there. Entrepreneurship is a mindset so failed ventures will often be followed up with another try. It is important to recruit the talent and keep things cost effective for them.
Regulation can be a killer. Making sure that regulation supports small business and start-ups will go a long way. People are often unsure of how to start a business and where to start a business. Too many difficult to understand rules will just destroy enthusiasm. Having people who can help and keeping things simple will do wonders.
Recruitment of talent is often about lifestyle. Entrepreneurs are people who live a little on the edge, generally like the outdoors, enjoy art and bands. They are particular to the night life and the outdoor life. Making sure these things are available will help in the long run.
Friday, January 26, 2018
Thursday, January 25, 2018
Should we have a Strong or Weak Dollar?
Treasury Secretary Mnuchin recently stated the advantages of a weak dollar and this in turn caused the need for some damage control from President Trump that stated the U.S. policy is to have a stronger dollar. The problem is that there are advantages and disadvantages to a strong and weak dollar.
Strong Dollar Issues:
-More purchasing power internationally.
-Foreign products are cheaper.
-Supplies are cheaper.
-Foreign labor is cheaper.
-More international strength.
-Investment often moves overseas to cheaper alternatives.
-American products are expensive.
Weak Dollar Issues:
-American labor is cheaper.
-Additional investment in local markets.
-Improved manufacturing by American companies.
-American products are cheaper.
-Less purchasing power and less influence.
-Less purchases of foreign products.
Each as their own advantages or disadvantages. In the long run, a slightly deflated dollar by say 15% can make American businesses more competitive. But this can't be done overnight because we neither have the industries to service our own supplies nor are our businesses capable of adjusting that quickly in their purchasing and supply processes. A slightly deflated dollar can work to our advantages is managed over a 5 year period.
Strong Dollar Issues:
-More purchasing power internationally.
-Foreign products are cheaper.
-Supplies are cheaper.
-Foreign labor is cheaper.
-More international strength.
-Investment often moves overseas to cheaper alternatives.
-American products are expensive.
Weak Dollar Issues:
-American labor is cheaper.
-Additional investment in local markets.
-Improved manufacturing by American companies.
-American products are cheaper.
-Less purchasing power and less influence.
-Less purchases of foreign products.
Each as their own advantages or disadvantages. In the long run, a slightly deflated dollar by say 15% can make American businesses more competitive. But this can't be done overnight because we neither have the industries to service our own supplies nor are our businesses capable of adjusting that quickly in their purchasing and supply processes. A slightly deflated dollar can work to our advantages is managed over a 5 year period.
How Poorly Designed Application Forms Can Damage Your Business
Filling out online job applications can be a job in and of itself. During the selection process it is believed that longer forms weed out the motivated candidates from those that are not that interested. This is a fallacy of thinking that can have big impact on the type of candidates your company receives.
We seem to gravitate in our processes toward complexity. It helps us feel like we justified our position but it doesn't work well. Just like you wouldn't make purchasing a product difficult for your customer you don't want to make it difficult for candidates to apply.
These forms can be complex and sometimes don't work right. A single answer that doesn't fit within the specific criteria outlined by the data field and the entire application cannot be submitted. After a half hour of searching the candidate might give up.
Therein lies the problem.
Bigger and longer is not better here. To ensure that all candidates have an opportunity to apply it is important to keep the application process simple. High quality candidates might be turned off by the tedious process and believe the company is not managed well.
Trying to get too much information is tedious.
Applicants create resumes for a reason and then they need to manually transfer that information to fields that don't often fit well with their work experience. With today's database search capabilities all of these fields may not be necessary.
The best ones I have seen out there have just a few components that include:
-A short survey to ensure match.
-Cover letter, Resume, and Document Upload
-Verification of Contact Information
-EEOC Form
-Initials and Submit
Keeping it simple will increase the functional use of the system and encourage high quality candidates to apply.
We seem to gravitate in our processes toward complexity. It helps us feel like we justified our position but it doesn't work well. Just like you wouldn't make purchasing a product difficult for your customer you don't want to make it difficult for candidates to apply.
These forms can be complex and sometimes don't work right. A single answer that doesn't fit within the specific criteria outlined by the data field and the entire application cannot be submitted. After a half hour of searching the candidate might give up.
Therein lies the problem.
Bigger and longer is not better here. To ensure that all candidates have an opportunity to apply it is important to keep the application process simple. High quality candidates might be turned off by the tedious process and believe the company is not managed well.
Trying to get too much information is tedious.
Applicants create resumes for a reason and then they need to manually transfer that information to fields that don't often fit well with their work experience. With today's database search capabilities all of these fields may not be necessary.
The best ones I have seen out there have just a few components that include:
-A short survey to ensure match.
-Cover letter, Resume, and Document Upload
-Verification of Contact Information
-EEOC Form
-Initials and Submit
Keeping it simple will increase the functional use of the system and encourage high quality candidates to apply.
Breckenridge's Charm as a Skiing Destnation
If you love the outdoors and the mountains then you will like Breckenridge. A place where people who love to climb the mountains, hike, and ski go to get away from their busy lives. Beyond having world class ski hills in the area you will find the lodging to be quaint and satisfying. Walking around the village there will be plenty of opportunities to shop and eat.
It looks much like a European village lined within a few blocks. Not much parking but the overall atmosphere is very clean and inviting. People are friendly and the food is good. A touch on the pricey side but you will enjoy yourselves anyway.
It looks much like a European village lined within a few blocks. Not much parking but the overall atmosphere is very clean and inviting. People are friendly and the food is good. A touch on the pricey side but you will enjoy yourselves anyway.
Convenience and Price are Two Major Sellers Online
We are price sensitive people. In most cases online shoppers will skip over a higher quality product for a cheaper one. Their goal is to extend their purchasing power with cheeper products.
Those that offer the cheapest price in these ecommerce sites often win and are even encouraged by Amazon. More purchases mean more revenue for the vendor and the online shopping marketplace.
Convenience is fostered by making purchases easy and ensuring the product is delivered in a timely manner. Without this convenience people will often just drive down to the local store and not have to wait.
If your an online retailer you can always consider improving delivery times and using a low cost pricing strategy that is just a few cents lower than the competition. This doesn't address the unfortunate evils of "race to the bottom" mentality. However, business is about making a sale now because without sales you have nothing. Just make sure you balance your long term strategies.
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