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Jason Obrien

What is Earth Moving Finance: 5 Essential Points You Should Know

Last Updated: August 21, 2024

The cost of equipment is the top expense of any business establishment, specifically in the construction industry. Heavy lifting in construction requires heavy lifting equipment to expedite the work. The best option is to purchase or lease heavy equipment with earthmoving finance because they specialize in these services and offer bank financing, which is convenient for your business.

Understanding How Earthmoving Finance Works

Earthmoving finance brings you the best heavy machinery financing deals that your business needs. It provides you with the capital to purchase heavy trucks, earthmovers, cranes, and other heavy equipment that you need. Its leasing services are also available if you need the equipment for temporary use.

5 Essential Points

  1. It offers flexible financing solutions. Suppose you think about whether to buy or lease heavy equipment for a specific time. In that case, earthmoving finance provides flexible finance solutions that tailor to the needs, requirements and financial capability of your business. It also considers your tax, cash flow, and accounting to give you the plan that works best for your business. Most importantly, it provides a solution that will not pressure you and lets you focus on your company.
  1. It preserves your capital. The purchase of heavy machinery requires a significant amount of capital that can affect your finances throughout the year. It gives you a risk, especially when you are new in the business, and you are unsure if you will get your desired profit. Earthmoving finance helps you to free up your capital and decreases the risk in your business, especially for the lease services.
  1. It provides massive equipment expertise. Earthmoving finance is an expert in any equipment financing, so you are sure that they know how to handle any occurring problem related to the heavy equipment. Aside from that, they can provide specialised services that a traditional bank cannot offer. They have years of experience and a deep relationship with distributors and manufacturers, so it will be easier for them to approve your application with reasonable payment terms.
  1. It decreases risk. There are many risks in businesses, especially if the investment gets higher. Earthmoving finance lowers the business risk and gives you more time and energy to focus on other vital factors of your business. Since it helps you with specialised payment services, the money that you are releasing meets your budget, so the other expenses of your business are not at risk.
  1. It assists in equipment disposal. If you have old equipment stuck in your company, earthmoving finance will help you get rid of that equipment and throw them in the right disposal area, since some equipment has a harmful chemical that requires proper disposal. Old machinery also takes valuable space and makes your area look crowded and clogged. The finance company can help you sell your equipment to free up space and earn money during the selling process.

Knowing the essential points about finance companies will help you know its importance and benefits that can help your business. It can help you simplify your business decisions and remove any risk in your business.

Besides, it helps you know what matters most and grow your business. The equipment financing helps you know how to improve your business strategy to ensure the success of your company in the future.

Jason Obrien

Jason is the Marketing Manager at a local advertising company in Australia. He moved to Australia 10 years back for his passion for advertising. Jason recently joined BFA as a volunteer writer and contributes by sharing his valuable experience and knowledge.

Filed Under: Banking & Finance 1 Comment

How to Choose the Right TalentLMS to Build Strong Team

Last Updated: August 21, 2024

Cloud technology has transformed the way businesses are operated from the ground up. Every industry segment is transitioning to cloud services to run its daily in-house operations and outbound interactions. One of these transformations happening within organisations is cloud-based team training and management.

TalentLMS is an award-winning cloud-based learning management system that is finding favour within all industries. The advantageous features, coupled with its ability to merge the agile framework into a functioning, has found its niche in team-building practices.

The Right Pick for a Tight Team

With the rising demand for TalentLMS has come the high numbers in service providers. It is a generic term for all similar cloud-based e-learning platforms. Choosing the one for your company means learning about their features and aligning with your goals.

Ease of Use

The LMS of your choice must enable foolproof usage of all its features to give the best learning experience. The user interface must allow for quick and convenient operability. It must contain all the necessary information without making it seem too tedious or overwhelming.

Any visualisations and animations must work seamlessly across devices if each employee is using their own. This helps teams interact and share information easily.

Tool Integration

Content creation tools are abundant in today’s eLearning-focused world, as are content management systems (CMS) that help organise it all. An LMS is not quite either, but it does integrate these for enhanced user experience and functionality. Some popular tools that TalentLMS integrates are Salesforce, BambooHR, WordPress, and GoToMeeting. Zoom integration takes care of video conferencing needs.

Others that are compatible are SCORM, Tin Can (xAPI), and CMI5. Then there are JavaScript and API integrations. Zapier can also be added, which gives access to over 750 tools such as Slack and Zendesk. For selling your courses, Shopify can also be added. Therefore, it provides all the tools you’d need to build any team.

Availability of Agile

Agile framework has surpassed its IT background and found its way in the healthcare and retail industries, as well. LMS, too, is used in many of these industries. Naturally, there is plenty to be gained by combining the two.

TalentLMS gives that option and helps boost team communication and coordination, not just within one department but across all. It nurtures the foundations of a good team with contributions from each member.

Customizability

The LMS must be flexible enough to be modified as per the needs of the teams. It must also have the features most suited for the business that is using it. Individual profiles are one way to ensure that every team member has their section, providing them with all the relevant details.

Various categories of users will use the platform. Hence, placing them under appropriate ones (like a student, instructor, and admin, for example) will further enhance the platform’s ease of use. It will render the team more organised and less prone to inefficiency due to improper interactivity.

Engaging teams with the right TalentLMS will bind them to each other, and the goal set out for them. It comes with the bonus of enhancing their skills along the way as well.

Jason Obrien

Jason is the Marketing Manager at a local advertising company in Australia. He moved to Australia 10 years back for his passion for advertising. Jason recently joined BFA as a volunteer writer and contributes by sharing his valuable experience and knowledge.

Filed Under: Management Leave a Comment

Using Promotional Products to Increase Your Marketing Reach

Last Updated: August 21, 2024

One of the best marketing strategies you can do for your business is to use campaign materials that can be disseminated far and wide. The use of promotional materials to market your brand has long been used in the industry and is still one of the greatest means to encourage brand appeal.

Although the influence of social media and other digital branding technologies has become the leading movers of marketing, traditional materials like promotional products still hold a powerful segment in swaying buyer decisions.

Using these freebies and other goods to promote your brand creates a conscious significance in how your intended audience views your business. Using popular items like bags, notepads, and pens with your company’s name and logo creates a tangible effect of letting people know of your business’ existence.

Get More Sales and Better Returns with Promotional Products

Successful businesses, whether big or small, can substantiate the power of promotional items to provide a more relevant marketing campaign result. Unlike TV ads which only last for 30 seconds, promotional products can become part of a person’s life and daily routine.

For example, shirts and caps can be worn just about anywhere, giving your business a free-ride in marketing your brand. Such a strategy is often referred to as a walking advertisement, allowing people to see your logo and get their curiosity stirred.

Using promotional products to bolster brand consciousness among people is also cheaper compared to newspaper print and TV ads. Promotional products elevate your company’s status because it becomes a form of freebie used both as a marketing tool and an item to appreciate customer business.

Nonetheless, more of the power of promotional products lies with how they can influence your marketing initiative. People are more likely to respond to companies that offer something people can hold and use.

Guarantee Your Customer’s Participation and Loyalty

Among the benefits you can garner with promotional products is brand loyalty. In a realistic marketing scenario, customer loyalty is not just about your products and services but extends to what you can additionally provide.

Extending items with your company logo and brand tagging increases the chances of keeping your audiences engaged. Such an endeavor would also increase your business performance so it stays ahead of your competitors.

Your target audience is likely to perceive the genuine reason so they would continue doing business with your company. Promotional items like keychains, pens, and commemorative bags are easier to access compared to other means of promotional campaigns.

It does not matter if you are a start-up, a budding business, or a small company looking for ways to elevate business performance. Promotional products are a powerful way of encouraging customer participation through creative ideas that boosts brand awareness and loyalty.

Build a Better Relationship with Your Customers

One critical factor for a business to thrive is to build a network of customers who will believe and support your products. Using promotional products to capture your market segment means creating a meaningful relationship by increasing your credibility.

By providing your customers with something tangible, you are positioning your brand as a reliable authority in your market niche. Any company can have a leading advantage through targeted marketing.

To eliminate possible stumbling blocks to your marketing strategy, consider organising giveaway contests and another engagement booster by knowing what people want and what channels can be used to reach a wider audience.

Jason Obrien

Jason is the Marketing Manager at a local advertising company in Australia. He moved to Australia 10 years back for his passion for advertising. Jason recently joined BFA as a volunteer writer and contributes by sharing his valuable experience and knowledge.

Filed Under: Marketing & Advertising Leave a Comment

Everything That You Should Know About Photography Courses in India

Last Updated: August 21, 2024

With icons like Raghubir Singh and Daboo Ratnani, photography has come a long way in India. In recent years, the photography industry has witnessed a 15-20% growth, making it a lucrative career among the Indian youth.

If you consider taking up photography as a career option, having a professional degree is a testament to your photography skills. With the right qualification, you can earn big bucks, even if you are an amateur photographer.

There are umpteen photography courses in India that offer technical know-how to turn your passion into a highly successful career. But before you select a photography course, here’s what you need to know to make an informed decision.

A Fine Arts Course

In India, a professional course in photography falls under the UGC recognized Bachelor of Arts and Bachelor of Fine Arts.

They set the right balance of theoretical knowledge and practical training and give you insights into the photography industry’s latest trends. The degree lets you explore the various specializations in this field, ranging from wedding to industrial photography.

Eligibility and Course Duration

To enroll in a resourceful degree course in India, all you need is a 12th-grade passing certificate and a DSLR camera with a basic lens kit. Typically, the course duration is three years.

For the diploma course, the eligibility criteria remain the same, but the duration is one year. To pursue the diploma diligently, you will need a laptop, Zoom lens, Prime lens, tripod, Adobe CC, and a DSLR.

Course Offerings

Starting from the fundamentals of photography, the photography courses give insights into topics like the creative usage of camera and its dial modes.

They teach in detail about color theory and various types of light sources.

With various brands competing to have a strong presence in the Indian consumer market, there is an increase in commercial and advertising photographers’ dominance. Brands like Lee Cooper, Levis, and Royal Enfield are vouching for the top-notch photographers to allure their Indian customers. It is because of this reason; the courses offer in-depth knowledge about this subject.

You also get to have hands-on experience in working with editing software like Adobe Photoshop. Moreover, with study tours, you can build a robust portfolio, a must for a successful photography career.

Curriculum

In India, professional photography courses extend over six semesters.

The curriculum does not limit to just photography. It discusses to great lengths about Media Law and Ethics, Media and Indian Culture, ensuring you know the national laws while clicking incredible pictures.

For instance, as per the Indian Law, minor children who are victims of sexual abuse shall not be photographed. If you aim to pursue your career as a photojournalist, such courses are of great help.

While one semester deals with compositions’ fundamentals, the others teach more about media marketing, soft skills, environmental studies, and digital marketing.

Software Exposure

The photography courses in India offer classes on the latest software, including Adobe Photoshop, Lightroom, Bridge, and Capture One. It will increase your photo editing expertise and enhance them with sophisticated software once you start working as a professional photographer.

Even with plenty of options in the Indian market, Adobe Photoshop and Lightroom beat other competitors, so the courses include them in the curriculum. However, you can explore lesser popular options like the DxO Photolab, which allows content-aware edits.

Career Opportunities

Wedding photography has an unparalleled demand in India. However, niches like feature and industrial photography are on the rise, offering excellent opportunities. Surprisingly, you can earn over five lakhs per annum if pursuing your career in these niches.

The top-notch professional courses in India discuss in volumes about the different genres of photography. By the end of the program, you would be able to identify the niche you wish to pursue as a career.

Hands-on on Photography Gears

Reputed Indian wedding photographers recommend Canon EOS since it works well when you have to shoot with a bright sky background. And in a family shoot in a small space indoors, the Indian photographers go for the 24-105 mm Canon Lens option.

So, to work professionally with various gear types, the photography courses in India include the best hands-on sessions during the training period.

India’s reputed institutes give training for the latest gears like Canon EOS 5D Mark IV, Nikon D-810, Elinchrom ELC 1000, and Godox AD 600.

Summing Up

India has produced some of the finest photographers, from the famous Raghu Rai, who took the iconic photograph of Mother Teresa, to Atul Kasbekar.

In photography, the eye’s creative level depends on the beholder, which matters more than the machine. Do you think you have the much-needed zeal to become a fabulous photographer? Then get yourself enrolled in the best professional course to sharpen your creativity and technical skills, giving the world a glimpse of your artistic side.

Jason Obrien

Jason is the Marketing Manager at a local advertising company in Australia. He moved to Australia 10 years back for his passion for advertising. Jason recently joined BFA as a volunteer writer and contributes by sharing his valuable experience and knowledge.

Filed Under: Career Leave a Comment

6 Simple Strategies to Improve Employee Efficiency

Last Updated: August 21, 2024

Many different factors can contribute to why your employees feel unproductive at work. It could have to do with their home life, office environment, workload, or even their coworkers. 

Reports show that only 7% of workers feel like being productive during regular business hours. 

That is an incredibly low number and you might be noticing low employee efficiency in your workplace. Yet, you’re only able to control what goes on in the walls of your office. 

Luckily for you, we do have some great tips and tricks to help improve workplace productivity. 

Keep reading for our guide to six simple strategies you can use to improve employee efficiency. 

1. Set Goals and Give Instructions

The first way to make sure that your employee productivity is high starts right when they get hired. Having a well written and detailed job description can help your employees know exactly what they need to get done on a day to day basis. 

They will know what each of their responsibilities is without the need for guidance each day. These instructions will help to establish what needs to get done for them to do their job to the best of their ability and also help line managers for tracking employee productivity in absolute terms.

Yet, as a manager, it is also your responsibility to sit down with each employee and help them set work goals. Giving your employees guidance is a good way to help with workplace productivity because then they will know what your expectations are. 

2. Provide the Right Equipment

Something that can hurt your business productivity is equipment that doesn’t work efficiently. Having slow or outdated technology can cause stress and frustration for your employees. This is why you should make sure that all the tools your employees use are up to tip-top shape. 

One of the best ways to find out if the equipment your employees use is working properly is to ask them. Your employees are going to know better than anyone else if a program you’re using is helping business efficiency or not. 

Your employees might even be able to recommend a better tool or program to use!

You should also make sure that printers, fax machines, and computers are in optimal shape as well. Slow computers can hurt productivity in your office.

Check out the link below to find out how to speed up a slow Mac computer. https://setapp.com/how-to/how-to-speed-up-a-slow-mac

3. Don’t Be a Micromanager

As much as you want to help with workplace efficiency, micromanaging can kill business productivity. Employees who feel like they’re being micromanaged are going to think that you don’t trust them to do their jobs. 

With no trust in your employees, how do you expect them to get the job done?

Instead of micromanaging, be the type of manager who sets clear goals and expectations. Once you set the guidelines, then step away from the project and let your employees get to work. 

You do want to make sure that you’re always around to help if needed, but don’t step in until you’re asked. Employees will feel more comfortable coming to you for help if you’re open and honest with them. Wait it out and let them get their jobs done. 

4. Practice Better Communication 

Do your employees come to you when they have a problem or need something address? If so, then this is a sign of good two-way communication. 

If not, then improving to better communication with your employees is something that you need to work on. One of the best ways to do this is to get your employees comfortable reaching out to you with any questions or concerns. 

You can start by having meetings with each employee to discuss their workplace productivity. Be sure to address the negative and positive aspects of their efficiency.

This is a good way to start talking about the goals that you want to see get done around the office with each employee.

At the meeting, make sure to let them tell you any issues that they might be experiencing. Be sure to address the issues as this shows that you listen which is a good form of communication. 

5. Let Your Employees Work From Home

Coming to the office is a good way to bring everyone together face to face. Yet, if you feel like your team is lacking employee productivity, then offer a day to work remotely once a week.

Remote working can help business efficiency in several ways. Remote work means that employees can get more done in less amount of time!

Sometimes the distractions in the office can start to add up. Employees asking quick questions to each other may not seem like a big deal, but after a while, they can start to get out of hand. 

When you let your employees work from home, then they spend less time having to get ready and commute to work. They can focus more on starting their day without the hustle and bustle. 

6. Promote Self-Care

When employees don’t take care of themselves outside of work, then they tend to call in and take sick days more often. It could be from the stress that is either work-related or even from something in their home life. 

Either way, they could feel unwell physically, mentally, or emotionally. Even if they did come to work on these days, then you know that they would be very unproductive. 

As a manager, you need to promote self-care for your employees. Taking one day off to de-stress is much better than coming to work and being unproductive for three days in a row. If they can take one day off to recover and come back refreshed, then it is worth it. 

One thing that you don’t want to happen is employee burnout. This is when an employee gets fed up with the stress, frustration, and exhaustion that their job causes them. 

When you’re a manager you need to be observant and a good listener. Make sure that you take the time to care for each of your employees’ mental health at work so that they can be as productive as possible.

Improving Employee Efficiency at Your Workplace

Working with your employees to improve their productivity doesn’t have to feel like a chore or punishment. Instead, think like your employees would and do what is best for them when improving employee efficiency. 

You’ll find that it creates a world of difference when getting things done in your workplace. 

Our website is filled with advice on business, management, finances, and so much more! If you’re interested in learning more tips and tricks, then make sure to bookmark our page so that you can keep coming back for more.

Jason Obrien

Jason is the Marketing Manager at a local advertising company in Australia. He moved to Australia 10 years back for his passion for advertising. Jason recently joined BFA as a volunteer writer and contributes by sharing his valuable experience and knowledge.

Filed Under: Career, Management Leave a Comment

6 Tips For Streamlining Your Business Finances

Last Updated: August 21, 2024

Ah, finances — the necessary evil that forms the foundation of all successful businesses. Love it or hate it, if your business doesn’t have a streamlined and effective business finance operation, you run the risk of your competitors sprinting past you in the race.

Furthermore, keeping on top of your business finances is the one and only way to ensure that you will be placed in good stead when it comes to the overall impression you give to suppliers, customers, and investors.

Are you someone who is looking to stay ahead of the curve and manage your business finances in the most efficient and effective way possible? Well, look no further because today, we look at 6 handy tips for streamlining your business finances. Read on to find out more!

Automate Wherever Possible

If a computer or software can do it, then a computer or software is definitely something you should be making use of. When it comes to keeping on top of your business finances, automation is king. Not only will you be able to save hours of precious time that would otherwise be spent doing things manually, but you’ll also be able to ensure that your finances are free from human error.

Using tools such as accounting software, invoice templates, and payroll systems are a great way to streamline your business finances and also ensure that you are always compliant with ATO rules, which is never a bad thing!

Categories Business Expenses

We get it – running a business, let alone a successful one, is hard work. Amongst the chaos of money flowing in and out, it can be all too easy to end up feeling overwhelmed when managing the finances of your business.

Keeping track of individual expenses in order to differentiate them can often end up last on the list of priorities, which is why we highly recommend that business owners dedicate time to organising the sources of revenue and expenditure into categories.

By doing this you will ensure that all your finances are organised and that stress is kept to a minimum. This also makes for a much easier task come tax time, as you will already have everything neatly organised and ready to go.

Ensure Your Team is Up To Speed

Having great accounting and finance software in place is just half of the job — ensuring that your team is well versed in using it and adequately trained is the other half.

Regardless of the beauty of automation, there is still a need to ensure that your team members understand the basics of how to operate said systems. You can ensure that your team is up to speed by holding training sessions that will cover all aspects of software integration, from A-Z, with your employees.

Ensuring that everyone is kept in the loop and fully understands any new software or automation that is introduced to the business is vital in ensuring that your business finances are all smooth sailing.

Hire A Bookkeeper or Accountant

If you don’t already enlist the help of a bookkeeper or accountant, we highly recommend doing so. Hiring professional help can go a long in streamlining your business finances and can help you keep track of ongoing financial transactions and tracking details.

Accountants can also help with tax filings and any other financial tasks that need to be done, which can make a huge difference in the success of your business. Professionals will also be able to give their opinions and input based on their extensive experience — something software cannot provide better than a trained and experienced professional can.

Make It A Habit

If you want to ensure that your accounting and finance process is streamlined, it is incredibly important that you make a habit of it. It is always advised that business owners ensure that employees regularly attend to account maintenance, regardless of how busy or tied up they may be.

This is especially important during stressful periods of the year when updating financial data can easily be neglected amongst the chaos. At the end of the day, the lynchpin of streamlined finances is consistent management. After all, it is better to do it right the first time than spend precious hours rectifying issues that may take twice as long to fix.

Go Paperless

Aside from the environmental benefits of going paperless, doing so can also greatly streamline your accounting process. Piles of paperwork is without a doubt, a nightmare, which is why it is always recommended that businesses go paperless. Paperless financial tracking offers numerous benefits such as increased productivity, organisation and less shuffling around the office all day long.

Going digital with receipts, invoices, contracts, and other documents is also a great way to ensure that everything is backed up in the Cloud and easily accessible when needed. Say goodbye to stacks and stacks of paperwork and endless papercuts!

Keeping your business finances streamlined and organised at all times is one of the best ways to ensure that your business succeeds in the long term. We hope that this article has given you insight into some of the habits you can implement in order to ensure that your finances are always kept on track.

Jason Obrien

Jason is the Marketing Manager at a local advertising company in Australia. He moved to Australia 10 years back for his passion for advertising. Jason recently joined BFA as a volunteer writer and contributes by sharing his valuable experience and knowledge.

Filed Under: Banking & Finance Leave a Comment

Importance of Planning

Last Updated: August 21, 2024

Planning is the process of thinking about the activities and tasks needed to accomplish specific goals. Any organization that plans for the future is more likely to succeed in today’s growing digital world than those who fail to plan before time.

Proper planning help organization to increase their market performance, make them aware of market changes, encourage and motivate employees, take precautionary measure to reduce risk, and also create a level of unity and coordination between employees.

If an organization doesn’t consider planning seriously then there are many chances that they will face huge losses.

To avoid any hazardous situation, it is better to plan well.

Importance of Planning

It is very important to fulfill any task otherwise everything is unmanageable and becomes a cause of failure in business.

The main benefits of planning are given below.

  • Increase efficiency
  • Reduce risk in business
  • Provide proper coordination
  • Help in organizing
  • Give right direction
  • Keep good balance
  • Help in achieving goals
  • Encourage the personals
  • Invade innovation and creativity in employees
  • Effective decision making

Let’s explain why planning is important for the survival of any organization and to fulfill the task on time.

Increase efficiency

Planning helps to increase overall organizational efficiency. Its purpose is to use all available resources in productive ways. Which save organizations from wastage of resource, Errors, and time-consuming. Its target is to give a good quality product at a low cost.

Reduce risk in business

Today’s business is full of risk and uncertainty. Several illegal activities and frauds are happening everywhere. Efficient planning help to take precautionary measure on time to save the organization from any loss, fraud, and disaster.

Provide proper coordination

If the owner of the company plans well; the coordination and cooperation levels in all divisions of employees are result-oriented. It helps the company to be stable and attain a high market share. All of that is only possible because of the right planning at the right time.

Help in organizing

Organizing is the process in which we take advantage of all available resources in such a way that it gives a long-time durable and usable product. Planning helps to calculate the number of available resources and effective direction to use them. Making notes is one of the easiest ways to stay organized and you can use a tablet for taking notes instead of writing them down on paper.

Give the right Direction

Planning results in proper information, instruction, and guidance to subordinates to do tasks in result generated way. It helps to select the sequence of tasks and methods to do it right for the first time.

Keep Good balance

Planning is good to have good balance and control in the performance of the employee. Also, check whether it meets the requirement of the project or not.

And if there are any changes needed, they will do it before it’s too late. And all of that is not possible without good planning.

Help in Achieve Goals

As every organization runs toward its goal. They do their complete efforts to achieve their objectives. But without proper planning, no one can be successful in their struggles.

Planning gives direction to organizations to do work with proper time and sequence. It helps to save from any disaster and random problems

Encourage the Personals

Any organization which is working with complete planning. They know an increase in financial resources and upgrading of employees motivate them to give their best performance. There are many reasons why planning is important in leadership as well.

It brings organizations to accomplish their goals on time. So when they required extra and efficient work from their employees they upgrade them financially so that they become happy with the company and gave their 100 percent.

Invade innovation and creativity in employees

They are completely aware of the fact that how much the opinion of employees matters when an organization plan for the future and knows why keeping staff is important.

So to achieve the vision of the organization successfully. Planning help to encourage and motivate employees to play their vital role in the company by sharing their innovative and creative ideas or point of view.

Effective Decision Making

A manager understands the importance of decision making at the workplace and always makes several strategies and plans which help to complete the vision of the organization. He deeply overlooks every strategy and selects the best one from all the others by keeping in view all available resources, budgets, and time. This process of effective decision making is not possible without planning

Conclusion

Planning is the backbone for the success of any organization. It helps to make efficient work for every employee, use all available resources, and save from waste of money and time.

It also helps to maintain the coordination and sequence in the company.

Jason Obrien

Jason is the Marketing Manager at a local advertising company in Australia. He moved to Australia 10 years back for his passion for advertising. Jason recently joined BFA as a volunteer writer and contributes by sharing his valuable experience and knowledge.

Filed Under: Business Leave a Comment

How to find Best Executive Recruiters Firm In the USA?

Last Updated: August 21, 2024

Attracting and accessing top talent is not easy, and the pool is often not large enough for the kind of candidates you may need. When you locate the right candidate, you cannot be sure that she or he would be interested in making a move to your firm.  

In this scenario, hiring the services of an executive recruiter firm is your best bet. They have the contacts, knowledge, and experience to discover talent in places that you may not have access to. The cost of a bad hire, especially at the senior executive level, can be damaging. 

It’s equally important to get the right fit when you’re looking for the best executive recruiters firm in the USA. This helps you take the initiative right from the word go and conduct the search using a systematic, organized, and well-thought-out strategy.  

What Is An Executive Recruiters Firm?

Many organizations may not have the time, professional skills, experience, or the resources to recruit senior-level executives. A company that focuses on specialized recruitment services for organizations that require qualified candidates for senior-executive and higher-level employment is an executive recruiters firm. Senior-level executives may be required for private and public sector organizations, not-for-profits, NGOs, etc. 

This service is available across different sectors and industries, and many firms specialize in a certain industry or sector. For instance, IT executive recruiters firms specialize in sourcing senior candidates in the information technology industry. The recruiters firm may also be hired to source talent in highly skilled areas where there could be keen competition for a smaller pool of skills in the job market. The services may be available across national and international markets. 

The client organization provides a set of requirements to the executive recruiters firm. In turn, the firm conducts a targeted search using these specifications and comes up with a short list of likely candidates that match the requirements. 

As interviews are important, in some cases, they may further help the client in conducting the interview process, screening, verifying credentials and qualifications, negotiating remuneration, drawing up contracts, etc. They may be hired on a retainer basis, delimited or engaged search or a contingent search, and the financial terms are different for each of these. The most common form of remuneration for the candidate search is a percentage of salary offered to the candidate. 

Hiring an executive recruitment firm also enables clients to recruit from their competitors without the fear of “poaching.” 

The organization that regulates, monitors, and sets standards for executive recruiters firms is the Association of Executive Search and Leadership Consultants (AESC) with a presence in 70 countries. 

How To Hire The Best Executive Recruiters Firm in the US

1. Know What You Want: As a client, you need to thoroughly analyze your own requirements before hiring an executive recruiters firm. Knowing clearly what you want, how the candidate will fit into your organizational structure, the qualifications, experience and personal attributes they must have, the salary you will pay, and the career growth prospects you can offer – this would help the recruiting agency to conduct a highly targeted search and come up with the best fit.

2. Specialized or General: If it’s a choice between a big name generalist and a lesser-known specialist, you need to weigh the pros and cons before deciding. Large, international firms have a bigger pool, while smaller ones may have depth and accuracy. Local firms may help you to identify candidates nearer home without the hassles of relocation and settling in.

3. Track Record: While it’s probably cheaper and quicker to hire a start-up or small local firm, the time spent and your costs could go up significantly in case of a wrong hire due to the firm’s inexperience and lack of better contacts. Check the firm’s track record and ask about their recent hires, network, and data-base and their sourcing methods. The candidate pool should be dynamic and constantly replenished, with executives moving rapidly in and out. The firm should also have good experience in tapping passive candidate networks.

4. Give Clear Information: A professional executive recruiters firm would require detailed information about your own company, history, products, reach, turnover, etc. This will help them find the right match, but make sure that you flag confidentiality and information security issues.

5. Understand their Screening Process: You have hired the recruiter to save time and effort that would be spent in screening candidates. Ensure that the firm you pick for executive search has a professional and ethical screening process, document verification, and the capacity to provide you with well-screened candidates.

6. Get To Know Them: While hiring a specialized recruiter, ensure that they have the necessary knowledge, experience, and qualifications in that particular sector. The firm’s own staff should have industry certifications, legal expertise to draw up contracts, and extensive recruitment experience at the specific level of seniority that you need. For instance, it may not be appropriate to hire a firm to recruit a CFO for your company if their staff has never risen above middle management. They need to understand the role and the requirements of the employer.

7. Check their fee structure: Most executive recruitment firms don’t charge upfront fees. They may work on a retainer basis, which means they recruit for positions above a certain pay-scale and charge the client a fixed percentage of the candidate’s annual cost to the company. This may be staggered over phases or paid according to a fixed schedule. Another structure is the delimited/engaged search where a refundable fee is charged up front. The third type is the contingent fee structure, where fees are paid only on successful completion of the candidate’s search and hire.

8. Confidentiality and Privacy: This is a major concern for most companies who are looking for senior-level executives. The reason why you’ve hired an agency is that you prefer to remain in the background. This is often related to confidential issues such as replacing an under-performing executive, retirement, mergers, acquisitions, etc. You need to trust the recruiter firm and ensure that your information doesn’t get leaked out.

Jason Obrien

Jason is the Marketing Manager at a local advertising company in Australia. He moved to Australia 10 years back for his passion for advertising. Jason recently joined BFA as a volunteer writer and contributes by sharing his valuable experience and knowledge.

Filed Under: Management Leave a Comment

Why No Credit-Check Loan Markup is Bit High

Last Updated: August 21, 2024

No Credit Check Loans are primarily taken by those people who have a really bad credit score. People with low credit scores do not get approved by any banks or lenders for loans.

Apparently, these loans seem like a very good option for bad credit borrowers who want quick loans. But it comes to a lot of costs too.

What is No Credit Check Loan?

These are the loans that you can get without any credit history checks. Lenders and banks check your credit reports and credit scores before approving you for loans.

However, no credit check loans don’t require that. Lenders usually look at your current income and bank account and approve you for loans at a much higher interest rate.

These loans are also called no-credit-check installment loans and usually have an APR of 400%. They range from €50 – €1000 in most cases.

High Markup on No Credit Check Loans

Because these loans are not approved by your credit reports, they usually are high in interest. Many lenders charge more than 100% of the interest rate on installments.

APR for no credit check loans is mostly 400% which is way more than APR rates of many personal loans offered to mediocre credit score holders. It is the highest APR rate offered for personal loans multiplied by 5.

Also, lenders usually force you to buy their credit cards or other things to which adds to the costs. The markup cost and lender’s fee are very high because you do not have any guarantee for repaying the loan.

Benefits of No Credit Check Loans

If we talk about some of the bright sides or advantages of no credit check loans, the biggest perk is no checking of credit reports. It is a good option for people who need quick cash for emergencies or accidents.

Lenders offer same-day funds transfer in these types of loans. So, the transfer of cash is really quick. But with all of that aside you have to look at the paperwork carefully for the interest rates and other fee charges before agreeing.

Why No Credit Check Loans Are Not a Good Option?

These are all the reasons why no credit check loans are not the best option:

No Guarantees Involved

They are predatory for people. They are the same as payday or car title loans. As lenders do not have any guarantee on you paying the amount back and make payments on time, they can easily access your bank accounts.

You Can Get Stuck in Debt

These loans are like a trap due to high interest rates and markup rates, borrowers are unable to repay the loan amount thus they get stuck in a continuous cycle of debt. The only way to come out is going for consolidation.

No Effect on Credit Score

No matter how well you are with your monthly installments, this will not have any effect on your credit score at all.

Other Options

You should look for other options first to borrow money if you have a bad credit score. Like,

  • Any relative or friend
  • Credit Unions
  • Online Money Lenders
  • Payday Alternative
  • Personal Loans

Final Words

Personal loans are always a better option. Only go for no credit check loans if you don’t have any other options available and you are not eligible to apply for any other loans.

Jason Obrien

Jason is the Marketing Manager at a local advertising company in Australia. He moved to Australia 10 years back for his passion for advertising. Jason recently joined BFA as a volunteer writer and contributes by sharing his valuable experience and knowledge.

Filed Under: Banking & Finance Leave a Comment

Mistakes You Shouldn’t Do While Starting a Business

Last Updated: August 21, 2024

If you are planning to start your own business and need some guidance on mistakes you should not do then this article is going to be a boon for you. Starting a business in India or anywhere is not a piece of cake you have to do a lot of hard work to execute your ideas.

1.Not Having an Exact Business Idea

It is the most important thing about any sort of business if you don’t have any idea to execute then what kind of business are you going to do. First of all, you need to make your mind that what you actually want to do there are a lot of options which you can try such as aerospace, tourism, hospitality, agriculture and a lot more.

2. Start without Proper Training and Experience

Any kind of work you do if it is not up to the mark then it is waste of time so even if you are trying to start a business you need to be perfect you can enhance your skills through attending workshops or by any other way you like because the experience is the thing which matters a lot in life.

3. Writing it Down: The Project Report

Your report must include the name, age, qualifications, experience, of the owner(s), and a revenue model with all the details (cost, sale prices, taxes, delivery charges, etc)

Your success is based on the uniqueness of your idea, try to read failed as well as succeed stories to get more ideas that what you should do and what you should not and you should also pay attention to domestic and international markets so that you can have an idea of revenue.

4. Not having a Trusted Source of Funds

There are a lot of methods from which you can raise funds for your business. Most of the time in small businesses people finance their own business or their family or friends finance their business, this can be good for the short-run but it can create problems for your business in the long run. So before making any final plan to raise your fund you need to calculate the revenue and fund required and as per the calculation you start raising funds from only trusted sources.

5. Choosing any Random Location

If you are planning a big-budget business then this might don’t affect your business at all but if you are planning to start a small budget business then location is a very important part you should focus on. As your location is confirmed you can proceed with legal formalities.

6. Neglecting Business Registration and Legalization

Legalizing your business is another Big step towards your dreams. A few years back it was a very exhausting and lengthy process but now as per PM Narendra Modi’s instructions it should be done in a working day.

7. Not Giving Importance to Tax Registration

You should have a Permanent Account Number (PAN) and Taxpayers Identification Number (TIN). If you don’t have both of these then there is no need to worry because of income tax department issues both (PAN) and (TIN) in 30 working days.

8. Ignoring Digital Platforms

This is in the digital era which can help in increasing the reach of your business there can be three types of business online /online and physical/physical (store, office, workshop). Launching a website can actually help you, in the era of content marketing you can post blogs on a daily basis to increase your reach.

9. Don’t Satisfy in Less

If you want to make your business successful you need to mark a position in the market, there are a lot of ways to do that such as you can implement your unique ideas in making your business more attractive, you can use a unique name so that people can remember it even if it is because of its weirdness, creating a logo is also a remarkable step.

10. Looking for Professional Officials

Most of the time in small scale business staff are family members or friends but if you don’t want to do that or you are not eligible to do that you can hire your staff on low wages, you can give the chance to beginners as they might be looking for experience so their expectations won’t be that much high and it will be good for both of you.

11. Publicize your Business

It is the best way to increase your reach as you will interact with public they will get to know more and more about your reference but publicity requires a lot of money and as a beginner in the business world it won’t be that much easy for you so for your convenience you can start from social media because in this digital era that’s the best place to spread both positive and negative things you can also increase your reach through social media or you can try out traditional ways such as newspaper, radios pamphlets, etc. 

Jason Obrien

Jason is the Marketing Manager at a local advertising company in Australia. He moved to Australia 10 years back for his passion for advertising. Jason recently joined BFA as a volunteer writer and contributes by sharing his valuable experience and knowledge.

Filed Under: Business Leave a Comment

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