Guest Post: How To Collect Receivables Faster

YOLO — You Only Live Once. It’s true and that’s precisely the reason to give that business idea you have a real go. Really. What you’re waiting for isn’t likely to happen. You have to make it happen. So, let’s get right to it. Why Most Business Start-Up Roadblocks are Imaginary Okay, you need money, right? Wrong. But, you need an extensive business plan. Nope. You need a retail store, an office, a professional space. Probably not. Whatever the reasons, you’re probably talking yourself out of it rather than being thoughtful and careful. There are no limits on who can become a great entrepreneur. You don’t necessarily need a college degree, a bunch of money in the bank or even business experience to start something that could become the next major success. However, what you do need is a strong plan and the drive to see it through. —Entrepreneur.com While thoughtful and careful are good qualities, you need a healthy dose of impulse. In fact, almost every “roadblock” is merely you making an excuse. It’s no more complicated than you making it more complicated. 4 Simple Steps to Start a Business In reality, there are very few steps to start a business. With all the technology at your disposal and a little can-do attitude, it’s entirely possible. All you need is to do the following: Do a bit of research (but not too much). Learn about the product or service and its industry. You don’t need to become an academic expert. Research enough to get acquainted and feel more confident. Although, there’s a point of diminishing returns. If you keep going, you’ll eventually become overwhelmed. In other words, don’t get stuck in the paralysis of analysis or you’ll never actually get started. Test it out in a few different ways first. Whatever it is, test it out and don’t expect to charge — at least in the very beginning. Instead, ask for feedback and listen carefully. Others will give you invaluable input and that’s more valuable than money when starting out. (Now, if someone is willing to pay, give them a nice discount.) Start spreading the word, far and wide. Use social media, your family, your circle of friends, and acquaintances to spread the word. But, don’t hard sell. Just let people know about it. Make changes as you go and learn along the way. More than likely, you won’t hit the ball out of the park at first. You’ll need to make changes as you go. Be flexible and you’ll enjoy the ride a whole lot more. What other advice would you give to people who want to start a business? What motivated you? Please share your experiences by commenting! Interested in learning more about business? Then just visit Waters Business Consulting Group.

We’ve previously covered how to deal with a lazy employee. Now, let’s take a look at the other side of the coin. Or, how do you hire the best talent out there? It’s more complicated and difficult than one would first suppose. That’s because practically every candidate will put their best foot forward to make the best impression. It’s only after you hire do you really know what you’ve successfully recruited. But, to get an advantage, you should be only interviewing the top in the game. Signs You need More Talent Before we go there, let’s take a moment to look at your current situation. If you get the feeling you need more talent or at least one or more highly productive team members, your intuition just might well be spot-on. For instance, if you can’t seem to break previous work production levels, that’s one sign. Or, if you’re employees aren’t growing your business, that’s another. Legendary Texas football coach Spike Dykes once said, “You give me the best players and an average coach and we will beat the best coach with average players every time.” CEOs should take this approach and own recruiting instead of abdicating it solely to HR. One of the five critical CEO responsibilities is to provide the proper resources, and people are the most important. In fact, to scale your business, it requires 4 key components; people, strategy, execution and capital. In my experience, people are the greatest resource in growing any business. —Inc.com Of course, if you’re losing business, that’s a big red flag. Another way to tell if you need more talent is when your company feels stuck. If the status quo keeps chugging along with no breakthroughs, that’s a problem. (This is one reason why it’s always a good idea to bring in a third-party, like a professional business consultant and coach.) 4 Reasons You’re not Hiring the Best Talent Now, we’ll take a quick look at some of the most probable reasons you’re not hiring the best of the best. It could be one or a few combined. But, if you identify or feel familiar with any part of these, it’s time to reflect. Here are the four most common reasons you’re not hiring the best talent: Your casting net is way too small. Let’s begin with the most obvious — you’re casting too small a net. Sure, you’re probably comfortable recruiting from your locality. But, that leaves out a whole lot of people. Your job description is too generic. This is something that too many businesses do: they copy and paste job descriptions when there’s an opening. This is a bad practice because it doesn’t “speak” to individuals who would otherwise engage. You’re not getting back to candidates. Okay, so this is a difficult one. If you do make a great hire, you’re probably not keen about letting others know they weren’t chosen. But, this is not only selfish, it’s rude. Keep everyone who has interviewed in the loop. Your interview doesn’t give an in-depth view. Just like generic job descriptions, when interviews are overly generic, they won’t reveal how candidates think and feel. Those are very important insights you’re not gaining. What other advice would you give about how to hire the best talent? Please share your experiences and thoughts by leaving a comment! Interested in learning more about business? Then just visit Waters Business Consulting Group.