Woman Around Town’s Editor Charlene Giannetti and writers for the website talk with the women and men making news in New York, Washington, D.C., and other cities around the world. Thanks to Ian Herman for his wonderful piano introduction.
The New American Dreamer: How to Land That Dream Job in a Nightmare Economy
What is an entrepreneur? And why would you want to be like one? Everyone’s saying they’re an entrepreneur these days, but what’s the fuss about? So what you ask?
This is just the first in a series of articles that take a look at the reasons why EVERYONE should be an entrepreneur.
The word entrepreneur comes from the French and roughly translates to “one who undertakes something”. It also traditionally encompasses a loose reference to leadership. These are definitely key attributes but perhaps most importantly, an entrepreneur usually has little resources so they must focus on value in all of its many incarnations.
Value Trumps Cost
Providing value is not something that is ever finished. It’s ongoing and ever-changing. Value changes with the needs of the times so businesses must adjust and the good ones do. Why do you think McDonald’s rolls out “Value Meals” with new offerings every few years? Just being affordable is no way to sustain a business or a job. What determines “value” changes but the need for it doesn’t.
Generally speaking, value is what something is worth as a whole, with costs being only one piece of the puzzle.
What companies won’t tell you is that they view employees much like they do their vendors, suppliers, and other cost-based resources. They ask themselves–what value am I getting?
Compensation to Revenue Ratio
Compensation to revenue ratio is just one way a business might look at an employee’s value. Compensation to revenue ratios are the amount of money spent on salaries, bonuses, benefits and anything associated with keeping you at work, in relation to overall revenue.
Compensation to revenue ratios vary from industry to industry and are expressed as a percentage. If a company has a 37.9% compensation to revenue ratio it pays $37.90 to employees in order to make every $100.00, just as Goldman Sachs did in 2012.
It’s not important that you know your compensation to revenue ratio, what is important is that you understand it exists.
Entrepreneurs have little resources much of the time, so delivering value is essential. Likewise an employee has skills, talent, and labor, but they must produce results that are sometimes many times more what is being paid to them.
Ways To Be Valuable
Here are some ways in which to bring more value to your job each day:
Be more efficient. Being efficient reduces costs, and sometimes this is as easy as streamlining a process or batching tasks together. Determine what impactful way you can be more efficient at work.
Tap into your network. You don’t have to walk into your bosses’ office with a bag of money. If you know people that can help grow business all you need to do is set up a meeting and watch as your boss actually smiles once in a while. Think of people you can introduce to each other that may spark a relationship.
Learn somethin’. You would think I owned a chain of schools they way I promote learning as an answer to most anything. Well it is. Learning new software or a new production technique can increase productivity and help you become more valuable. What class are you taking this year?
Value is only going to become more important as the internet opens up the marketplace to more competitors. Learn what it is that makes you valuable and go with it.
Jason Veduccio is the author of The New American Dreamer: How to Land That Ideal Job in a Nightmare Economy. Click to buy.
It may happen to you at some point in your career. There’s a surprising round of layoffs, or a merger leaves you on the outs, or you just got fired. Perhaps you are in a bad work situation and just feel you need to get away from it all.
You need a new job – fast!
In times when you must move quickly, be deliberate and thoughtful in your actions. We’re going to have some fun with the Pareto principle to help us along. (Pareto purists–please don’t write me!)
Developed by the Italian economist Vilfredo Pareto in the early 20th century, Pareto’s principle says that 80 percent of the effects of something come from 20 percent of the causes. Let’s use this idea to help you get a new job fast.
Resume, Network, Interview
Eighty percent of the way to a new job is going to rely on 20 percent of your actions. Or think of it this way: you absolutely MUST have a good resume, a strong network, and do well in the interview to get a job fast. So make sure you have each one locked down. Other factors may include references, experience, and referrals which can all seal the deal, but you need that first 20 percent.
You’re On Sale
We can use the Pareto principle to make another point. A common rule of thumb in business is that 80 percent of your sales come from 20 percent of your customers. Picture yourself as a product and your network as a group of customers. Twenty percent of your contacts are your big fans, the most vocal fans, and the most aggressive fans. Identify those people and reach out to them often.
Time Management Means Success
Before we put the Pareto principle away for a while, how about we use it to look at time management? If you must continue to work at your current job while looking for a new one, you will have little time to waste. Get organized! Spending time on the right 20 percent is a must. Get a calendar and write down everything. Then highlight and do the things that are most important first.
Lastly, don’t panic
When you panic you cannot think clearly and the results will fall short. How not to panic? Celebrate small milestones along the way. Maybe making a new contact that will eventually lead to a new job. As long as you maintain the momentum, your efforts will eventually pay off.
Jason Veduccio is the author of The New American Dreamer: How to Land That Ideal Job in a Nightmare Economy. Click to buy.
The job market is showing promise with the best statistics since 2001, according to the Labor Department. If you are looking for work or even if you have given up looking, now is the time to job search.
There were 4.7 million job openings on the last day of June, according to the Bureau of Labor Statistics, and other signs of hope surround the report which was released on August 12. The number of openings is the most recorded in 13 years.
What does all this mean for you?
It means a few things. These jobs openings vary from region to region. The Northeast has 791,000 openings, while the Midwest, 1,044,000, the West, 1,057,000, and the South, 1,780,000. With population densities different in each of those areas it may mean there’s a better chance of landing what you want in another region. Should you relocate? That depends.
Where to look.
Each region has different types of job openings. There are also other factors to consider, cost of living expenses and lifestyle, for example, all play a role. Industries like finance and education are going to be stronger in regions with urban communities while other regions might offer more manufacturing opportunities. Then there companies like Amazon which announced approximately 6,000 openings at various shipping centers all around the county. So see the big picture before renting that van.
What about the many part-time job openings out there?
If you see a part-time job for a career you like or might have a future in, take the job. These jobs are great for getting in the door and proving yourself. Remember–many times these companies are only offering you part-time until you prove your value.
Here’s the most important thing to understand about this.
These are openings that increased by 100,000 from the previous month which means more job openings are being created, but are not being filled. The reasons for this vary but one obvious one is a poorly prepared labor market.
Employers are taking their time hiring, making specific choices based on lots of data. If you want these jobs you need to meet the challenge, but learning is good and you would be surprised at how easy it is to get with the times.
Make sure your resume is up to snuff. Optimizing it for keywords can help a lot.
Sharpen your interview skills. Know what you want and know what they want.
Present yourself online. Understand that potential employers have Google too.
Learn technology. Take a course or just read–but getting even a little technical knowledge can change your career path.
This report is optimistic, so let this news drive you to look for what you want. Let’s keep an eye for the next report due out on the employment situation which is scheduled to be released on September 5.
Jason Veduccio’s book, The New American Dreamer: How to Land That Ideal Job in a Nightmare Economy, can help you develop a plan for landing that job. Click here to buy on Amazon.
Charlene Giannetti, the co-founder and editor of Woman Around Town, today announces the launch of a new book publishing venture, WAT-AGE Publishing, to work with authors whose goal is not just to publish a book, but to publish a book that is well written and edited. Giannetti, the recipient of six New York Press Club Awards for Journalism Excellence, and the author of 12 books, will work with authors to ensure a quality product. After publication, the author will be featured on the award-winning website, Woman Around Town, as well as having the book reviewed.
“I love books and have watched the transformation of the marketplace with interest,” Giannetti said. “While people look at the demise of major book sellers like Borders as an indication that books are no longer popular, what I see is that books are being published and read in different ways. We read with our electronic devices and many authors are bypassing mainstream publishers to self-publish. The rigorous editing process that exists (or, at least, used to exist) at major publishers is left out.”
Giannetti said that she hopes to make a difference with WAT-AGE Publishing. “Woman Around Town is all about good writing,” she said. “That’s what I hope to bring to book publishing, quality writing that will engage the reader and register sales.”
Jason Veduccio, whose first book, The New American Dreamer: How to Land That Dream Job in a Nightmare Economy, was just published by WAT-AGE, had this to say about his experience: “You will love working with WAT-AGE. You can stay involved while taking advantage of the professional guidance that will make your book a professional product.”
Jason Veduccio is the author of The New American Dreamer: How to Land That Ideal Job in a Nightmare Economy. Click to buy.
