Category: small businesses

How to recruit the next generation of employees

It’s always a challenge to recruit talented young people who can join your workforce and offer long-term growth potential that can only come from smart and productive employees. One of the main reasons a company strives to maintain its high public image and project the idea that it is an employer of choice is to hire the best and brightest among the young.

Young employees contribute a lot to a company that can complement a larger workforce and make the company that much more important. Young employees know the wants and needs of their colleagues. So instead of figuring out how to market the current generation of 18-28 year olds that make up the disposable income age segment, keep an eye on company priorities.

The current generation

Young workers are often optimistic and eager to change the world. Their sense of mission and belief in the system to make the world a better place not only translates into higher morals internally, but also in a business philosophy that shares these values.

To attract the brightest minds in universities across the country, we must rethink what we offer these young people. You don’t quit science just to make a lot of money. Transform the leader of young workers who can make a change for the better in his company.

  • Don’t make potential work on money or your company name recognizable. The reputation of the company can be both negative and positive.
  • Young people know the Internet and want to use modern technology to achieve their business goals. It is in our interest to achieve this objective, since it allows us to be in contact with the market. Jed Simmons, who owns a foundation repair company in Buffalo, NY, says he empowers his workers to use new technology to connect with customers.
  • Corporate culture is an important factor in hiring and retaining the right employees of this generation. Young people strive for a creative business climate that can change as new elements become available, a responsive and easily accessible executive board.
  • Corporate values ​​mean a lot to youthful employees. This means that those high-spirited values ​​printed on posters and pasted in the human resources department must mean something. By demonstrating that the company lives up to its ethics and values, you will attract the idealistic side of young workers.
  • The values ​​that the company supports should reflect a modern attitude towards diversity and “green change”. If you have walked around the office while maintenance is being done, you will notice the trash cans strewn about it. You will notice the diversity of cultures and races in the composition of the staff.
  • Listen to what your employees desire from their job and work culture. Start with this resource.
  • Be prepared to recruit from different disciplines. Also, if you are recruiting for a financial services position or other specialization, you should be open to recruiting students with an emphasis in the liberal arts or teaching. These young people can train for the job at hand and bring a fresh approach to the job description based on their academic area of ​​interest.

This can take a long time to change if the company culture lags behind. But it’s worth starting now to attract the kinds of workers that will mean long-term growth for the company. If you do some serious business analysis, now is the time to start influencing change so that by this time next year you can better appeal to the up and coming youth of today.

5 First Steps To Starting A Business

As a freelance business consultant, many folks come to us with a business idea and want our assistance writing a formal business plan.

Despite what many aspiring entrepreneurs believe, putting together a business plan is not the first or most important step in starting a successful business. For most people, especially those with little to no experience running a business, this is actually one of the last things you want to do in start-up.

This article is designed for the brave individuals who have never started a business, have a strong desire to do so, but do not know where to begin. Here are 5 practices, learned from our vast experience, to help you avoid common pitfalls and get off to a great start. (Bear in mind, these are for companies that need little to no startup funds.

1. Dream

Take time to create your business “spiritually” before building it physically. See it in its best and perfect condition, as a super successful world-class operation. How does it feel, look, taste, sound, and smell?

Entrepreneurship is one of the most difficult things you will ever do, and your business needs to constantly invigorate and excite you. Otherwise, it will never last through tough times.

Write your dreams down. Not a business plan, but written dreams, plans, goals, and brainstorming. The official business plan will come later in the process.

2. Read

Dreams cannot go far without knowledge. Read these four books in order: Cash Flow Quadrant by Robert Kiyosaki, The Art of the Start by Guy Kawasaki, Burn Your Business Plan by David Gumpert, and The E-Myth Revisited by Michael Gerber.

3. Research

Before spending time and money on your dream, research to determine if your idea is viable and sustainable.

You will want to ask and answer a lot of questions, like these: Will the market support your idea? What evidence do you have to support this? What pain does your idea solve? Who else is doing it and what has been successful? What will you do differently? Do you have an easily identifiable market? Do market trends back the idea or will the idea become obsolete in a 2-3 years? Do you need financing? If so, how much and when? What technology can be used in the business? What skills are you lacking for the business?

Also remember that practical experience can be the most useful piece of research. You may want to start your business small and be guided by what the market is telling you.

4. Form an entity and ensure legal compliance

Assuming you are confident your idea will work, you are ready bring it to life and form a business entity. You need an entity for four reasons: to be legal, to maximize tax savings, to reduce liability, and to stay in control.

Your basic business entity choices include LLC, Sole Proprietorship, S-Corporation, and C-Corporation. Meet up with an attorney and CPA to discuss the differences between them and choose the appropriate entity for your uses. It will cost approximately $125 if you do the paperwork on your own, or between $200 and $500 if you hire a professional for help.

You must also make certain that you comply with the law in all other areas. For instance, if you have employees, you likely need workers’ compensation insurance. A good lawyer will help you navigate through any legal problems you may face.

5. Generate income

This step is obviously critical. Too many new business owners try to do too many things at once and are worried with things like image that they spend tons of money, time, and effort on logo and branding work, brochure marketing, advertising, and so forth. Make money first.

Do whatever necessary to generate income, even if it means selling from house. No dream, however inspiring, will come true unless you can pay to make it happen.

SBDC tips to start your own business in New York state

The Small Business Development Corporation is the go-to organization for free and confidential advice for entrepreneurial folks in the state of New York.

If you or your business is located in New York, the SBDC can assist you getting around the roadblocks that often stop success. Through direct advice and support, the SBDC provides a variety of management services and technical assistance.

Below are just a few examples of the types of assistance provided by SBDC to small NY businesses:

  • Accounting
  • Cost analysis
  • Marketing
  • Financial planning
  • Business plan development
  • Legal business structures
  • Loan package
  • E-commerce
  • International markets
  • Employee management

Where to begin with starting a business in NY

To be sure, this can be an overwhelming thought. To get started, make an appointment to receive counseling, free of charge, from your local SBDC organization. Among other talents, SBDC consultants are experts in helping you write a business plan, or the “roadmap” for your company. The assistance of an SBDC is available to anyone interested in starting a small business for the first time and who cannot afford private consulting services.

I made an appointment. Now what?

  • Write down questions you have. Bring your questions and concerns to your appointment.
  • Review your finances. Know what resources you have to invest in your business and how much income you will need.
  • Don’t make hasty decisions. Meet with an advisor before deciding on important financial or life-changing commitments (like signing a lease or quitting your day job). Starting a business can be quite complex and take much longer than expected.
  • Set a tangible goal for your meeting.
  • Have a clear vision. Your advisor can help you develop one, but you need to know where you want to end up.

Where can I find info on permits and licenses?

Check out the New York Business Express website first. Additionally, the New York State Division of Licensing Services is helpful with regard to certain types of businesses. Meanwhile, NYC Business Wizard can help New York City businesses learn about the relevant permits and licenses.

Where can I register my business as a corporation?

You should visit the site of the Division of Corporations within the New York Department of State. They have answers to your questions and then some.

Where do I get a federal identification number?

This is also called a “Federal Tax Number” or “Employer Identification Number.” You can apply for an EIN in a any number of ways, including online, through the IRS website.

Ready to get started on your business journey? Simply contact your local SBDC to get the help you need to make your business dreams come true.