Job Tips For The Frustrated Job Seeker
There is nothing more frustrating and depressing when you are out of work and trying to find a job and your job search is going no where. Don't feel bad, you are not alone and there is a good reason why searching for a new job can be so difficult. There is no doubt the job market has changed. 30 years ago when I applied for my first job I remember answering an ad in the paper, calling and speaking to a real person, going in for the interview, filling out a application, had the interview and was offered the $3.75 and hour shipping job. Things are not that simple today. Back then there was no voice mail, no email, you mailed in a typed resume, who had a fax at home? You called and talked to a real person. You may of filled out a application but not the dozen forms you need to today. And you never had to prove you were legally allowed to work in the United States.
Today if you are looking for a job how to you stand out in the impersonal hiring environment that exists in most companies. If you apply online you are competing against dozens if not hundreds of others. Competition is stiff for a most jobs and a human may never even see your resume. Are there steps you can follow that will improve your chances? After being unemployed for several months after 3 years of self employment and becoming more depressed and frustrated in not finding a job, I took my job search to a new level which finally paid off in a new job.
I had been self employed for 3 years but after a divorce and starting life over, my self employment was no longer working. I had to bite the bullet and start looking for a job. The first mistake I realized was my resume was not working. I had updated it to reflect my self employment which was not related to my previous career. I was trying to find a position similar to my previous career in the graphics and computer support industry. By starting my work history with my self employment it made it look like I had been out of the industry even longer and my skills even more outdated. I was just shooting myself in the foot. I changed my self employment to reflect my computer skills so while I had been out of the industry for awhile I wasn't out of touch. Some employers have doubts about people who have been self employed. They think they are going to go back to their own business or worse they only want a job so they can use company resources for their own gain. In my case I was able to explain that I had an opportunity to work at home and spend time with my preschool son, it had been for family reasons. Most employers respect that.
To begin with you really need to take a hard look at your resume. If you have always worked in one area and are applying for a position similar to those you have had in the past then your resume may just need some updating and polish. There are a number of good books and websites on resume writing. If you really need help then a resume service may be money well spent.
How many resumes do you have? There is no reason you can't have several. I was applying for a variety of unrelated positions. I would of looked "over qualified" or my experience would of been too unrelated for the position if I stuck with just one standard resume. I created a "general" resume that listed a variety of skills that could fit any number of non specific jobs. You can have one that is very specific for the industry you are applying for and there is no reason you can't change it to a specific company especially if it will be scanned in and checked for "keywords" Some companies scan for keywords or buzzwords related to the position, their company or industry. Even if you are the most qualified person for that position, if your resume doesn't have those keywords, it will never get seen.
In addition to having a few different resumes you should have it in several different formats also. If you need to mail it in then a nice easy to read printed resume is in order. Same if you will be faxing it in. If you email your resume then your cover letter will be the body of your email and your resume will be attached. Most employers request it be in a word .doc format or text but you can also use a pdf format. If you have your own website why not post it online with a link in your email. That way if your attachment can't be read they can print it off the internet. For example the link could be http://www.yourwebsite.com/yourresume.html. You should also have a unformatted text only resume for uploading to online job sites.
Be sure to include several ways to contact you. Home phone, cell phone, email. I had the unfortunate luck of having my cell phone and my home phone cut off for non payment within a few days of each other. As luck would have it someone I sent a resume to tried to contact me and couldn't get through. They did send me a email saying they couldn't reach me. I was able to call them and get a interview. Don't leave anything to chance. And if they leave you a message get back to them ASAP while your resume is still on their desk. When you get a interview, be on time, be prepared, do your research about the company you are interviewing with. You can usually find most everything you need off their company website. Come prepared with extra resumes, helpful if you have to fill out a application. Also have copies of your updated references. It is best to have more than 3. Some companies want professional references including past employers, others want personal references of persons not related to you. Be prepared for both.
Where to find a job? Dig! And keep digging! You may never know where one will show up. In some ways the internet has made job searches easier with a variety of job sites to search. You should probably set up accounts at the large sites like hotjobs and monster which will allow you to post your resume and apply directly to postings Also take a look at sites like indeed.com. They are a search engine of sorts for jobs. They search several jobs sites at once. Saves time from going to each site. Post your resume so employers can find you. ASK! Don't be afraid to let everyone you know that you are looking for a job. Drop a email to anyone who might know someone who might have a job opening. You might be surprised how many people really do want to help you. Network your pants off! If you don't ask no one can help you. Search everyday. Try and send out at least one resume a day if not more. Pick up the early edition of the Sunday paper. Send out 5-10 at a time. And keep sending them even after you have interviews set up. You can easily fall behind two or three weeks if you stop sending resumes in hopes of that job offer coming through. Nothing better than telling someone, "I'm sorry I accepted another position" Apply for every job you are remotely interested in even if you don't think you are qualified. Every job listed always has a laundry list of qualifications and requirements. In a perfect world they would find the perfect person that would match every requirement. But employers know that person doesn't exist and they are looking for someone who closely matches and they feel will be a good fit. At the worst you will never hear from them. At the best they will offer you a job or maybe something different within their company. You can always turn it down. Even if it turns out to be something you really don't want to do, it might help you get by for awhile until a better position comes along. Never be afraid to apply to any job!
Most of all don't give up hope, the right job will happen at the right time. Remember to take care of yourself. Go for a walk, get plenty of rest, do something you enjoy just for yourself. As long as you keep moving in a forward direction, if someone asks you what you have been doing to find a job you can proudly say "this is what I have been doing" Persistence will pay off. Good luck.
Short Sale Success Secrets with Foreclosures
If you're active in real estate investing, you may already realize one of the biggest issues real estate investors face: Finding Great Deals.
Foreclosures at a 52-year High
With foreclosures at a 52-year high, there are thousands of deals available on the market, if you know where to find them and how to secure them. The first challenge you'll face once you locate the property is that most of these homeowners are mortgaged to the hilt. They have no equity, and big loan payments. In fact, many actually owe more than the property is worth!
Most investors will walk away from these deals because they see no obvious profit. That's because they don't know about the Short Sale.
WHAT IS A SHORT SALE?
The concept behind the short sale is simple: your goal as a real estate investor is to convince the bank to sell for less that is owed as payment in full. Of course, this concept is easy - buy the foreclosure from the bank at a big discount, sell the real estate, and make money! So how does it work?
Success with short sales can be accomplished in the following steps:
Step 1: Do your research.
Many new real estate investors make the mistake of waiting until some subscription service sends you the list. The disadvantage is that a ton of other investors are also getting the list. If your first contact is to send a letter, forget it. Your letter will be lost in the huge pile the homeowner is getting from all sorts of other investors, credit repair etc. 99% of the time these go directly into the trash or a big basket unread. If you go directly to their door you've got a chance.
So if you're going to mail, be the first to act when the default notices are printed in the local newspaper. Or be the first at your courthouse, if that's where they're filed first. The key to finding investment-worthy properties is to act quickly. Be disciplined and mail out the letters the very same day-in fact take them to the post office. In this business, the early bird really does catch the worm.
Tip for Success: If you don't have a company that publishes your notices of default, check with local title companies or bankruptcy attorneys to see if they offer these services; you need somebody familiar with the subject that visits the courthouse often.
Step 2: Develop your marketing strategy.
When you have located foreclosures, make sure your timing is swift. Mail your initial letters of approach to the homeowner the same day you discover the property. Placing ads in your local papers also helps to generate leads and find homeowners eager to avoid the credit penalties involved with foreclosing.
Tip for Success: A typical advertisement strategy taught in real estate training is to get listed in real estate or credit section of the classifieds. These ads typically have a bold, to the point headline, such as “Avoid Foreclosure” or “Stop Foreclosure, Today!” If you are targeting a specific property type, or reaching for higher market values, specify this in your ad. (Instead of simply “Avoid Foreclosure,” add your target market to the bottom of the ad. Example: “Avoid Foreclosure, call 1-800-555-1212 . 500K and up.” You'll make more money in real estate by reaching for high-value properties, and an ad like this shows your prospects that you specialize in helping those with higher value homes avoid foreclosure.
Step 3: Work with the homeowner.
You can't get anywhere without the cooperation, and often gratitude, of the homeowner. The homeowner you are working with has obviously run out of options, but you'll need their trust and confidence if you plan to short sale mortgages. Remember, in these situations, you are often looked at as the “rescuer”. Make sure you explain the homeowner's part in the process thoroughly. Once they deiced to allow you to work with them, there is important paperwork you need them to fill out and sign:
1. an “Authorization to Release” form that gives you permission to contact the lenders and the foreclosing attorneys.
2. a sales contract - signed but leave the purchase price blank. You may need to change the numbers as you negotiate with the bank
3. a financial statement - to show they can't afford to make the payments
4. a hardship letter - to explain in personal terms what happened.
Tip for Success: Remember that this is a stressful time for the homeowner. It's easy to get caught in the excitement of a prospective short sale profit. You can get them to make a decision when you are able to convince them that this is the right option for them Emphasize the benefits of working with you, and then ask for them to take action. Make sure to let them know that once your contract is signed, and the bank accepts it; they'll be free to move on with their life.
Step 4: Negotiate with the bank.
Although banks don't enjoy taking a loss, it is a simple fact of the lending business that short sales are a necessary evil for lenders. Indeed owning the property (a non-performing asset) is even more expensive than selling it for a loss. Consider:
Banks use short sales to drop unwanted property quickly without having to deal with the REO office and go through the long process of putting the home back on the market. When you speak with the Loss Mitigation department, remember, this property is actually costing them money! Federal regulations require somewhere between $300,000 and $800,000 (or more!) to be held in reserve by lenders, which is many times over the actual price of the bad debt.
When you call the bank and ask for the Loss Mitigation Department (the department that handles properties that are in foreclosure) tell the person handling the account that you are trying to help Mr. X with his foreclosure and you are willing to buy the property from him, but due to the condition of the property/declining values/etc. you are only willing to pay X amount. This is where your negotiations begin.
Be firm and polite, but don't ever make threats to not buy or be forceful in your approach. Loss mitigators are often busy and overworked, and they want to see you as somebody who is minimizing the damage - and hassle - of the bad debt.
Tip for Success: Larger banks are the easiest to deal with when working with short sales and foreclosures. This is because the larger banks have more resource, more experience, and more loans! While there are some larger banks that don't work with short sales at all, other banks, such as Wells Fargo or Fairbanks Capital, tend to work with a much larger volume of short sales.
Once you have worked with enough short sales, you'll find that you have inside contacts at some of the larger banks; be friendly, ask them about their day, Develop a rapport. Sometimes, they'll open up about problems they're facing or current trends, which of course, you'll need to keep on top of!
You don't have to be a real estate pro to see the potential for making money with short sales, and now you definitely have some great tools to get started. Great deals in real estate are out there, and with today's market, your potential for profit is limitless. Just keep in mind: do your research, market your services, and treat the homeowners and lenders with respect. When you use this approach with short sales, you can make a win-win for everybody, especially the officers at your own bank when you cash in on your profit!
In the next article, we'll discuss the tricks and tips in convincing the bank to take a big discount on the short sale.
STARTING A BUSINESS? WHAT NEW (AND EXISTING) BUSINESS OWNERS SHOULD KNOW
Starting a business can be overwhelming enough trying to get up and running but when you think about all the tax requirements, your cup may runneth over. Here is what you must know in order to start your own business on the right foot and avoid paying penalties and interest which can cost more than paying an accountant to do things right the first time.
WHAT FORM OF BUSINESS SHOULD YOU SET UP WHEN STARTING YOUR BUSINESS?
There are several different options including a sole proprietorship, partnership, corporation, S corporation or limited liability company. In general a sole proprietorship works fine if you are very small, not too profitable and aren’t concerned about legal liability issues. A partnership is like being married to the other partners. If you aren’t that cozy with them, you may want to set up another type of entity. Corporations are best suited for business owners who want personal legal protection and have profit available beyond what they will need for their personal use. See http://www.dgoodmancpa.com/smallbusinessretirementplan.htm for an example of what you can do with that available profit tax deferred until retirement. S Corporations are best when you are operating at a loss and want business owner legal protection. Limited liability companies will protect the business owner from personal legal liability and, if structured properly, can be a partnership, corporation or owner for federal income tax purposes.
DO YOU NEED AN EMPLOYER IDENTIFICATION NUMBER (EIN) WHEN YOU START YOUR OWN BUSINESS?
You need an employer identification number if you have employees, have a qualified retirement plan, operate as a corporation or a partnership, or need to file employment or excise tax returns. You do not need an employer identification number if you are a sole proprietor and don’t meet any of the requirements above.
WHAT METHOD CAN YOU USE TO ACCOUNT FOR YOUR INCOME AND EXPENSES WHEN YOU START YOUR SMALL BUSINESS?
The two most common methods are cash and accrual. The cash method in general allows you to report income and expenses in the tax year you receive it. The accrual method in general allows you to report income and expenses in the tax year you earn or incur it even if you haven’t received payment or paid it yet.
WHAT KINDS OF FEDERAL TAXES WILL YOU OWE WHEN STARTING A BUSINESS?
All businesses must file a return. The form used depends on what form of business you set up when starting your business. The federal income tax is a pay-as-you-go tax. In general you must pay the tax as you earn or receive income during the year to avoid penalties and interest if your tax liability for the year exceeds $1,000 including self employment tax for sole proprietors, partners and S corporation shareholders. Corporations should make estimated quarterly payments if they expect to owe $500 for the year. Estimated tax payments are due quarterly. Penalties and interest can be hefty so you should make sure you comply in order to avoid wasting money on IRS penalties.
WHAT TAXES ARE DUE IF YOU HAVE EMPLOYEES IN YOUR SMALL BUSINESS?
Your small business must pay social security and Medicare taxes, federal income tax withholding, federal unemployment tax along with your state and local income taxes. The associated tax returns for reporting these taxes are in general filed quarterly. Your business is entrusted to pay these taxes on behalf of your employees and not only do you have penalties and interest that you will pay for not filing them timely but can also be committing a crime due to the fiduciary responsibility. You need to be sure you know what you are doing here as the consequences could be costly.
WHAT RECORDS SHOULD YOU KEEP WHEN YOU START YOUR BUSINESS?
Except in a few cases, the law does not require any specific kinds of records. The most important thing to ask yourself is can you go back to all of the original receipts from the number on your return. If you were to be asked by an IRS agent to provide all the details of a certain number on your return, and you can not do that, you will be at his whim on whether he will allow that deduction. An efficient accounting system with a solid audit trail which has been reconciled is the safest way to be sure you have done this.
These are just some questions you may have regarding starting your new business. If you have more, e-mail me at dianne@dgoodmancpa.com and I will help you muddle through the tax and business issues you may have. After all, those of us that have our own business know it’s the only way to go but getting up and running can be a bit of a challenge.
The Art of Employee Motivation
If you think that your employees’ poor performance on their designated jobs is costing you a whole lot of loss profits, then instead of just doing a total overhaul of your employee roster, why not try to do some employee motivation tactics to get them to actually come around and be able to save your company from looming bankruptcy. It really is fairly easy and simple to rouse some employee motivation, you just have to take these techniques to heart:
People nowadays are concerned of the lack of importance that is being put into health care plans. Is your company one of those companies who does not provide their employees with the health benefits that they should be entitled too? This is a possible reason why your employees’ morale are down. You need to reassess the situation and try to give them the health benefits that will ensure them that they will be protected by the company that they have been loyal even in their times of sickness. Always remember that a happy worker is a satisfied worker so make sure to use this employee motivation tool in order to give your employees morale a much needed boost.
Remember, companies are usually employed with some women who will, most often than not, become mothers. So it is highly important that you know their needs especially during the time when they would want to avail of their maternity leave. It is important that your company, no matter what kind of product or service you offer, is always sensitive to your employees needs, no matter what gender.
When it comes to having a good health plan for your employees, you must be sure that your health plan is actually of any good or else it would not really do any good to your employees’
morale. Make sure that the health plan will be able to cover all their basic needs and it wouldn’t really hurt if you throw in some added kicks.
Basic health care plans that you can use for employee motivation actually covers the following: full coverage for any basic illness or injury, coverage of hospital payments in case the employee has to be checked in at the hospital or if there are some minor surgeries that need to be done.
Added benefits to further boost employee motivation through a health care plan is through having their dental health covered as well as their optical needs, eyeglass subsidies as well as free dental cleaning and check-ups will be a good treat for your employees and will surely be a great added employee motivation move.
Apart from having a good health care plan for your employee motivation tactics, you must also be able to provide for them some other additional care such as an insurance plan which they can rely on in case something bad happens to them and they are still of service to your company. Even if this employee motivation move will not be availed by the employee’s family during the time of his or her service, your employee can still choose to continue on paying for the premiums of the insurance plan even after he or she has retired from your company. Unfortunately for your employees, once they resign
from a job position at you company the said insurance plan will be revoked since the company will not be able to play for your insurance premiums anymore (remember, all the payments from these employee motivation tactics will actually come from the employee’s salary).
Another great employee motivation move for loyal employees of your company is to have a car loan ready for them, employees who have already served some considerable amount of years in the company should be entitled to a car plan wherein deductions from their salary will be used to pay for their vehicle of choice. This is a great employee motivation move since those who are not able to afford a car (a brand new car at that!) would actually want to continue staying in your company because of this added employee motivation benefit.
From time to time, especially during special occasions, you need to be able to give your employees some added morale boost by organizing events or parties that will foster camaraderie among your employees. A little good time certainly wouldn’t hurt anyone and this will all be in the spirit of good ole’ company fun. Employee motivation directed events such as Christmas parties and company picnics are surely a welcome treat to your seemingly overworked and over fatigue employees.
You must also remember to give your employees some time to unwind like providing your regular employees the benefit of having a two-week paid vacation leave. That’s the least you can do for your employees who you have held captive for the majority of the year in your office.
These are really simple and easy employee motivation tactics that you can do in order to boost your employees’ morale and be able to ensure a good upkeep of your company.
