Yay! Just Got my MBA! I am the mother of young children figuring out how to relaunch her career after the kids are in school (so I have some time).
Saturday, July 16, 2011
VACATION tip for SAHMs and others
Wednesday, July 13, 2011
Case Study: Netflix
Wednesday, July 6, 2011
RElaunch REview: Change
Saturday, July 2, 2011
RElaunch REview: Stock tips
Saturday, June 25, 2011
RElaunch Review: Terms
- Business sentence: Apple's new system that syncs up all of its products, from the iPhone to the Mac, has created a new form of intra-brand synergy.
- Mommy sentence: Some of the strangest synergies can be found in the toddler diet: Mac and cheese with cut hot dogs, for example, only appeal to them but they will eat this for hours! (Quite a feat if you have a picky tot like me.)
- Business sentence: Pampers' brand has its own CSR, promoting and funding childhood vaccination in 3rd world countries.
- Mommy sentence: Teaching my son CSR can be as simple as giving money to a homeless man at the subway, or working in a food kitchen with him when he is older.
- Business sentence: Abercrombie & Fitch has been directly affected by natural disasters in Asia this year; drastically decreased cotton supplies are causing a spike in clothing prices of this already struggling retailer.
- Mommy sentence: My supply of coffee is getting low, causing a spike in my temper.
- Business sentence: High gas prices have cut the demand for road trips this summer, affecting tourism in small-market areas of the Midwest.
- Mommy sentence: How do you respond when your three kids are all demanding different things at once?
- Business sentence: Water is at a premium in Africa where its market is affected by drought like conditions combined with extreme poverty.
- Mommy sentence: In my house, the market for Gap Kids clothing expands, the more used and cheaper the clothing becomes.
Wednesday, June 22, 2011
RElaunch REviews
Tuesday, June 14, 2011
Stock Tip of the day: Penny Stocks
Saturday, June 11, 2011
Profit Maximization of opportunity cost
Friday, June 3, 2011
Rummage Sale economics
Wednesday, May 18, 2011
Mommy brain - why I do this blog
WRONG!!!!
An apple is not an orange and if you matheletes are paying attention, you will realize that one of something cannot be equal to three of the same thing (unless its the Trinity:)) SO...
X is for Apple
Y is for Orange
and X = 3Y, which means that one apple profit is the same as 3 orange profits.
In business you often hear the term "apples to apples comparison" to describe SWOT. Comparing like items or enterprises is the best judge of your item or enterprise. You wouldn't compare your newborn and your 4 year old in terms of who talks back the least because then you'd be really down on the older one. Same concept.
Tuesday, May 10, 2011
Opportunity Cost Part 2
In mommy words, here it is: you have 3 hours without the kids but no access to a car. How do you spend it? TV is relaxing... housework is work but whittles down that to-do list... a nice bath is relaxing but after 3 hours cold... surfing online can be fun but like TV, the after effects make one feel wasted. Eating that favorite dessert without paws reaching in is also nice. There are so many things... what is the best way for you to spend it? Well, thats going to depend on you and your situation. Its that work-play balance again. So much of a certain play is going to cost you so much work and the accompanying stress that comes from not doing it.
In business terms, you can sell apples or oranges. Apples make twice the profit of oranges (so oranges are X and apples are 2X.) So your profit equation is X+2X=Profit.
Doing all apples will cost you your orange labor and profits... which is fine if there is no market for oranges. But what if oranges sell more units than apples (they are eaten more at a certain blogger's household.) Lets say people buy 3 times as many oranges as apples. Now, X apples = 3X oranges. At that point, it is worth your trouble to also sell oranges, simply because your profits may end up exceeding apple profits as a total. So you want to make the most profit out of both oranges and apples.
These equations are called 'constraints.' One would phrase the question, what is the opportunity cost of selling one additional unit of apples?
OK, so its almost dinner, nothing's started, the baby is about to cry, I am hungry, Sesame Street is on and math is not my strong point... I am going to finish this when I can better focus on it... you can see why companies do not encourage bringing your 4 year old, 1 year old and your newborn to work. I promise you a good sequel to this post! Point is, you want to maximize your profit within the given constraints of your market and your product. Baby's crying. See you later!
Monday, May 9, 2011
Opportunity Cost
Sounds confusing and it is at first.
In mommy terms, I can feed my tot candy and shut them up for 15 minutes after lunch so I can do the dishes. Candy for short term peace. But candy will also cost me, in terms of cavities and the child's expectations. And behavior issues from the high fructosity. No dessert will take away those expectation but also take away some of my time to do dishes and some of my 'nice mommy' points. Fruit is a good compromise...
Anyways, I digress. There's only so much of any one resource. Take labor. There are only so many laborers in the country. If the US shut down all industry but automaking, there would be no one in the country to make food and prices of that commodity would increase (even more so than they do.) If people only labored in food production, there would be no one to educate our children. A teacher cannot teach and produce food at the same time (or devote their full resources.) Or they can produce food well but only if they give up some of their teaching time. An acre of corn will cost a teacher 3 hours of class time. When discussing opportunity cost, do not get bogged down with details such as multitasking and monetary issues. Look at it as an exchange of goods.
Translated into pure cash perspective, though, its having $10 to spend on anything you want. You could get 3 Starbucks drinks or 4 McDonald's coffee drinks. You could get 2 gallons of gas. You could buy an hour of babysitting. But you cannot buy all of the above with just $10. That resource is limited.
Translated into time, you have an hour without children. You can do laundry and dusting, you can catch up on TV you've been recording, you can read that novel you haven't been able to finish, you can take a hot bath, you can nap... bu you cannot do it all... spring cleaning may cost you a nap. Or a nap will cost you dusting 3 rooms.
Agrarian countries are having trouble with this at present. At one time they mainly grew and sold food. But with populations and high paying jobs moving to cities (think China) there are fewer workers available to produce food. This creates a shortage of food in the country, overall. More educated workers are costing the nation in skilled farmers. This is directly affecting their need to import foodstuffs and export goods and services that other countries need.
I think stay at home moms have a better grasp of opportunity cost than most. Staying at home, you get time with your kids when they're little, something you can never recover. But you lose points, professionally, and you gain gaps in your resume. However, you also have less stress from having to 'do it all' because you discover thats just a myth anyways:) Even moms who work from home, like me, can point to their opportunity costs. I can make a pair of baby booties for $15 or I can take an hour and a half nap or clean my house or surf the 'net. But those activities will cost me the pair of booties and the profit from them. Anyone else have examples of this from their lives?
Monday, April 25, 2011
Term of the Day: Benchmarking
How are we, in relation to the 'other?'
It seems like something you can communicate easily. And it is if you've done your homework. You will want to know what, exactly, you are comparing. For example, diaper sales in the United States. If you are P&G (Proctor & Gamble,) you may want to know how many diapers you sell in New York City, in comparison to other brands, such as Kimberly Clark. You may compare figures such as profit margin, packs sold, profit per diaper and cost per diaper. You may sell more diapers than Kimberly Clark (i.e. Huggies) but yours cost more to make so your profits will be equal to or less than your main competitor. Benchmarking yourself to your competitor is vital to discovering how to beat them.
Being an avid diaperer, I currently use whatever brand sends me their coupons. My stash is currently Pamper-heavy but that changes with the sales. At any rate, Pampers hold waste longer than the Huggies, although Huggies sell you more diapers for less per diaper. It evens out. At the beginning of the month, I may spring for Pampers Swaddlers for my newborn, simply becuase they seem softer to me. But otherwise, they are pretty equal. If Pampers suddenly created a diaper that held the same but met or beat Huggies price, I would buy more Pampers with or without a coupon. They would do well to analyze something like this.
At that point, Pampers would have set a new benchmark. This is also akin to setting goals. Let's assume my toddler wets his pants 6 times a day (I wish.) First, I track how many times to make sure it really is 6 and not more or less. I do not with to inflict more of my goals on him than are fair. Then after tracking diapers several days, I find that, OK, 6 is pretty accurate. Once this is done, I go online and several sources tell me that if he's meeting all the milestones appropriately, he should be able to go tinkle on the potty at least 4 of those 6 times. Now I will start trying to sit him down and reward him or offer rewards for success. My benchmark is only 4 accidents. I can try to potty train in a day - and I've heard of successful instances - but its far more realistic a goal/benchmark.
Companies may go "all in," attempting to go far above and beyond the current benchmark. Like a casino, there are a few really big wins (think Apple's iPhone) but there are many many more losing machines. Benchmarking in business and in potty training will save you and your kids and your business many many tears.
Thursday, April 21, 2011
Term of the day: CSR
CSR: Corporate Social Responsibility. I thought it a good term to explore in lieu of tomorrow being Earth Day. Tomorrow is another more important day for me but its not very pc to mention so for blogging intents and purposes, tomorrow is Earth Day.
CSR is an umbrella term for the company's charitable giving, either in the form of monetary donations or fundraising efforts (sponsoring a team to walk a 5K for MS, building a hospital wing, cleaning oily birds from the Gulf spill, etc.) There's not too much funny stuff I can contribute here but I'll do my best!
CSR can be a verb or a noun. Verb: We will want to CSR this charity. Noun: This charity is part of our CSR. CSR encompasses any and all efforts to "give back." Think of your household and its charitable giving. Important ones for us are our church, maternity homes, children and multiple sclerosis research. What are yours? Corporations are able to help causes on a larger scale. And almost all of them have CSRs. Some even have whole departments dedicated to this.
Now, corporations still thrive on profit. So why is the CSR important to them? PR, or public relations. You could say they like CSRPR, FYI, BTW. That should get an LOL:) Earth day ties in because environmental causes are a HUGELY popular CSR. Companies are more and more concerned with their carbon footprint so if they are connected with a business that affects the earth (Proctor & Gamble = diapers = landfills) they try to give back (cleaning oil spill affected animals with Dove soap.) If they do not affect it as much, it is still a popular cause that the majority of companies serve.
Why is CSR important to you? Well, the first thing is that good little 'company girls' like what the company likes. Second, or maybe first for many people, is that if you have the luxury, you will want to work for someone who supports good things. There are some causes that are divisive; nuclear research comes to mind. Nuclear power has the potential to do much good but it also has the potential for great destruction, as we have seen in Japan. Any money you make for your corporation is partially funded into their CSR. So your efforts indirectly contribute to the causes your company supports. Scientists who object to embryonic stem cell research often lend their time, money and talents to charities that focus on adult stem cell research only. Every company website today has a link on one of their first web pages, outlining their giving priorities, their CSR. This is important to note, when determining if you will even apply. Your money will make a difference to someone. Make sure it is the difference you want to make.
On a side note, go to Starbucks tomorrow with a mug/travel mug and they will give you free coffee for being environmentally conscious.
Happy Good Friday!
Sunday, April 17, 2011
Change for Dummies: Part II - The Change Agent
New Baby
Thursday, February 24, 2011
Mommy lesson for Business: Eating out
Most painful for me has been what not to order. I am addicted to our local Mexican restaurant's chips and salsa. And my kids want what I have, no matter how much candy I try to stuff in their mouths so I can enjoy myself. But chips = choking hazard and salsa = hot hot hazard. Both also elicit tears.
Lesson #1 for business: Order food that will not make a scene. Soups can elicit slurping from you. Hand held food can get messy. Picture yourself eating said food and if you forsee any clumsiness, select that penne pasta dish over the fondue.
Chips and salsa orders are now confined to date nights. Our servers must see us as the couple who's rarely there but when they are spend hours downing the chips and salsa. Today, our family restaurant outings consist of places like Pizza Hut or Noodles and Co. Places that have very kid friendly meals. My child very likely to eat their pasta and they have pastas that I can stomach. I'm not a fan of tailoring my wants to those of my child's; normally, my mantra is "tough, your the kid and I'm the adult." But we do dinner out so rarely that I play along here.
Lesson #2 in business: when you eat out with colleagues, order what they order. This will keep you in their price range (which they will appreciate if they're treating.) If you're the first one to order, see Rule #1.
To save money, when eating as a family, we get water for drinks. But I've wittnesed many a child wailing when mom and dad get their beer and child is left with the flavorless water. There's no fooling them and you can only give your toddler so much beer... well, in most families.
This brings us to drinks and Rule #3 which is basically Rule #2 but more important. If you continually order alcoholic when they're ordering non, you're going to be judged as the party person, no matter if you order 1 or 20. If its the other way around, you'll be viewed as a fuddy duddy. When drinks are ordered, order along the same lines and price range of everyone else. Follow these simple sub-rules if you are asked first (many times, if you're the only woman there, you may be):
In order of importance:
a. Go alcoholic if its after 5 PM; non-alcoholic if before.
b. If non-alcoholic, order a drink from the menu and not just water 'from the tap.'
c. A glass of wine is usually acceptable. Lite beer is second most acceptable. I wouldn't go for a mixed cocktail if you're the first one to order.
These 3 rules should serve you very well. I know I broke quite a few when I was first working because I was so excited to have someone pay for dinner at a fancy place. It may sound like I'm telling you to bow to someone else's judgment. And I am. Impressions of you and your personality are often formed in the off-hours. Even more important, many business decisions take place in such a setting.
Housekeeping item
Mom Tip: Go. To. Target. Today.
Target is giving away $5 giftcards for every 7 frozen food items spent. Usually frozen food items are less healthy and more expensive. BUT frozen vegetables and frozen juice are the exception. And both are priced a little below or above $1 each.
I bought 28 packages of juice and veggies and my total came to $27.80. (I do have a chest freezer - make sure you have room). At the checkout, they gave me $20 in gift cards but you cannot spend it on that purchase.
No worries for me because I was able to turn the cart around and get milk, lactaid, all my canned good needs, sugar, pasta and a very nice table cloth for $19.63 - so basically, FREE.
Thursday, February 17, 2011
Other women: Friend or... bitch?
I know for me, I was the latter when I was working, prior to having children. If they were at a higher level than me, there would be a nagging voice in the back of my head saying, "her brain is mush from kids, what does she know?" If she made a decision I disagreed with, I might fight harder against it because of this attitude. If I agreed with her directive, I would chalk it up to luck. And heaven help her if she got a job I wanted... that was my attitude behind her back and it was so unfair. She was having, I am sure, a hard time adjusting to returning to the workplace. She probably felt the need to overcompensate or overshow her skills to make up for the 'time off.' The woman I was scares me about jumping back into the workplace because I know it is not just me that holds these attitudes.
The moms who have been working the whole time are slightly resentful (funny somedays now I find myself jealous of THEM.) Your decision makes them feel guilty, brining up some of the same attitudes. This isn't every working mother but many, in my own experience.
So, childless or otherwise, there are attitudes about you formed before you even sit at your desk. You cannot ignore the fact that you had children. You are not going to preach to the working mothers, even though your presence and choices will make some feel guilty. How do you make allies with other women when relaunching your career?
I do not have a solid answer as I have yet to relaunch into the business world. Sincerity and genunine interest in others is a start... brush up on Dale Carnegie's "How to Make Friends and Influence Others." This book, written early last century, is a very brief gold nugget on making friends at work. Simple things like smile, genuninely listen, care. You have to want to make the effort because anyone can smell a suck-up a mile away. Look for favors you can do for them as low hanging fruits... going down the hall to get coffee? Ask if anyone else wants any. Writing an important report for corporate? Enlist the assistance of those around you to be a "second pair of eyes" and put their names under yours on said report. Do not become their doormat but look for ways to bust their attitudes. You will not totally erase that but you may turn a bitch into an equal coworker and maybe someday, a friend.
Tuesday, February 15, 2011
Change... for Dummies (part I)
The first term you learn associated with change in the business world is "LOW HANGING FRUIT." This refers to the part of a fruit tree that is accessible to everyone (all employees) and not just the apple pickers. (the boss)
You see, change is scary. Even if you can convince your boss to adopt a change, employee buy in is no guarantee and frankly, just as vital. Employees who are wary of changes will resist adopting them both physically (refusing to change) or involuntarily (taking longer to learn because they do not want to change.) I hate to stereotype, but this is both of my prior administrative assistants TO A TEE. Both had been working at the same place for decades, both had been doing things the same way. Said changes both came from my respective supervisors. However, I was the one in the middle. Neither communicated the changes very well to begin with (thats another topic) which sucked. I was the one getting paperwork poorly done, if done at all. They felt they could complain to me, that I was on their side. But I just wanted the work completed and many times, ended up shouldering their portion until I learned about the low hanging fruit.
The low hanging fruit at work is an easy and incremental change that anyone can adopt. Find something that takes almost no effort or makes the job visibly easier and implement that. Find more low hanging fruits to pick/changes to adopt. Once that level is mastered, these employees don't even know they have started to change. Then, you can move to the next more complex level of adopting the changes.
Many offices saw resistance with the advent of recycling. This is because it was given as a mandate with little direction as to how to recycle. The secretary was left to sort and unstaple papers and no one wanted to pick the cans out of the garbage bins. The first low hanging fruit most offices picked was to add green containers for soda can disposal. This was adopted by secretaries and CEOs alike. Then, many offices adopted the paper box where unstapled paper went. All employees were bought staple removers. These sound like little steps but they built the confidence of employees so that the employer, after a few months, could easily and fairly ask them to use recycling as they purge records. Finally, with the disposal of paper being perceived as easy, they felt confident when said office switched to paperless methods of invoicing and communications.
I liken it to teaching a toddler to write letters. I got no where trying to teach my 4 year old how to write an A or B or C et cetera... but when I broke it down and had him writing long lines and short lines and circles and curves and 'teeth' (M, W), suddenly, he understood when I said, "baby B has a line and a circle at the bottom." This technique is often used to get one's hubby to help in with chores (can you just scrub that pan from dinner and maybe the few cups in the sink?); I gotta admit I've yet to use it because my husband is a superstar in this area but I've heard it works, too:)
Monday, February 14, 2011
Monday: Charity begins at home
Listing the items in front of you is also going to help you look for new volunteer outlets. Unpaid work is definitely resume-worthy material; it is also a fantastic way to keep dusting off your leadership skills. It is also a great way to get a break from the kids:)
Below is a listing of what I did during both my professional and non-professional lives. Group memberships are important to list, but even moreso are the things you have done:
-Religious ed. instructor
-Member of local mom's group
-Organized fundraisers for local maternity home
-College MBA Alumni Association
As you can see, my list is not terribly impressive. But here are some things it tells me.
INTEREST AREAS: Where do my interests lie in relation to my non paid experience? In my case, the answer would be faith, motherhood, pregnancy, education. What other organizations would allow me to flex my unpaid experience muscles?
CONNECTIONS: I belong to two groups. Do either of these organizations have fundraisers or committees with which I can assist? Are there any members of either group can help me find volunteer opportunities?
COMMITTEES: Do any of my groups/interest areas have committees I can join? This is a fantastic item for any resume, no matter how short your paid work experiencee. Most committees will meet once a month AT MOST and require minimal take home work/studying on your part. Many committees for schools or community organizations only meet during the school year to accomodate families. Committees also LOVE young members. My generation is not reknown for joining or contributing. This is your chance to step and do your civic duty, too!
Brainstorm everything and then eliminate only by physical limitations. For example, a nursing mother cannot be gone too long from the home, but she can group email her parish mom's
group and suggest/coordinate a diaper drive or canned goods drive for the local maternity home.
The final step is to just join something. There is a disclaimer that should be made: this is a resume building excercise that should also prove quite fulfilling. Any little thing does make a difference. But do not join anything looking for explicit 'thank yous' or a chance to make big, sweeping reforms for the better. Sometimes committees are merely sounding boards for the boss. Frustration is common among members who have these high expectations and do not gettheir ways. Changes made may be incremental; that has to be OK with you or you will not be successful.
Friday, February 11, 2011
Friday: SWOT yourself
Per the most recent post on this blog, create a SWOT analysis of yourself in relationship to a career in the near or distant future.
Strengths & Weaknesses: Pretty straightforward. Do this from the perspective of past employers or from your personality. Usually, good and bad personality traits are reflected in our paid work.
Opportunities: What are some doors that could open to you in the future? Possible future career paths? Money making ideas? Anything into which you could incorporate your mommy experience? Any ideas that can let you spend the least time away from your children while making the most $$ for your family?
Threats: What are some things that are going to stand in the way of a great career (besides the whole kid-work conflict thing)?
Rule is that you have to have an equal number of points for each category so if only can think of one weaknesses ("I'm a perfectionist" HA) then you can only answer one strength, opportunity, etc. Not only does this keep the excercise humble (because we need that after scraping up poop all day, right?) but it can help us realize the good things that might be instore for us, too. And the answers could be a great resource for future interviews.
You don't need to post in the comments section but here is a brief example of my SWOT:
Strength: I am passionately enthusiastic about workplace quality.
Weakness: I am horrible at follow through if initiatives last more than a week.
Opportunity: Create a professional organization for women who were stay at home moms and are now working, that will mentor mothers back into the work place. Many times moms who return face 'attitudes' from the men who work there (who's wives did the same thankyouverymuch) or from moms who worked (guilt) or from people without kids. Members would support and help one another.
Threat: My MBA is going to make people assume I need more $$ when in fact I do not have very much professional experience.
Careful about enlisting others to SWOT you. A) thats not legal or nice and B) this could become a heated conversation, along the lines of "Honey, does my butt look big in this?"
Tuesday, February 8, 2011
Evaluation Method for Dummies
Strengths
Weaknesses
Opportunities
Threats
If you are called to evaluate ANYTHING in the corporate environment, assess the four above characteristics. When presenting your findings, start with, "I performed a SWOT analysis on (topic at hand) and this is what I found..." Chances are your superiors and/or colleagues are familiar with the term and will be impressed. More likely is that it gets thrown around more than the Super Bowl football.
This is why you have to know what a SWOT can do. Its a term - like synergy - that gets used too frequently. Usage isn't questioned because of its impressiveness. But you are going to look head and shoulders ahead of the game if you can do this.
A SWOT evaluates an idea from the internal perspective by looking at your company's strengths and weaknesses in relation to that idea. Consider the strengths and weaknesses of Starbucks moving to a town of 3500 people. If you're the Starbuck's bigwig, you consider your company's strengths in collaboration with the idea (only name brand coffee shop, high commuting possibly for a drive thru feature.) Then look at the weaknesses of your COMPANY in relation to the idea. For example, Starbucks is a big corporation and maybe the small town in consideration is only friendly to local businesses. Maybe Starbuck's prices are above the average coffee drink prices in that town. Whatever the case, come up with a list that is as equal in strengths as weaknesses as possible. This will show you have a balanced opinion of both your company and its compatibility with the idea.
SWOT evaluates the idea's external perspective when it looks at the opportunities and threats that are present when opening a Starbucks in said small town. Opportunities for marketing may be cheaper in small town publications; PR work like sponsoring a soccer team gains big points for any business. What opportunities can this venture create? Then, look at any threats the external environment provides. Mabye the economy is poor and has closed several large employers in recent years, diminishing excess income. Perhaps their taxes have been steadily increasing for outside businesses in recent years and the venture would be more costly over time. What are factors over which you have no control that are going to penalize you for opening a Starbucks in a place like Boondocks, Wisconsin?
A list of all SWOT items can be condensed onto a 4 column grid on one sheet of paper. Then you can make your choice of whether or not to open your shop in the town, based on all available information. You are going to have a bias... you're only human. For example, I believe all small towns should have a Starbucks with a drive through window. But this research can support your opinion in a buzzy and intelligent manner. You will possess some wonderful supporting evidence. Even better, SWOT research often undoes your bias and shows you the best answer, even if its not your first one. Really, in a town where the average income is $25,000 and the average debt tolerance is low, are crowds going to swarm to pay $5 for a latte? Sadly but truly, no.
Monday, February 7, 2011
Monday: Past Work Experience III
Duties:
-Recruitment of Midwestern secondary students to a private boarding school
-Marketing for my territory
-Establishing relationships with feeder schools
-Planning all recruitment related events
-Continuous and creative correspondence with each inquiry and applicant
-Training student ambassadors in on-campus marketing/hospitality cues
This one is always difficult to put on the resume. In the first place, Midwesterners see boarding schools as hoity toity institutions of snobby snobs (not ENTIRELY true). They also fail to see the great connections that students make at boarding schools, giving them an advantage when they matriculate at college. Convincing them of the above is hard enough. Add a price tag of $25,000 per year when they could also attend the local 'just fine' public school and it was a really difficult job.
But one at which I was successful.
In the second place, it is difficult to put on the resume because, well, I was fired. How many times when you hear the phrase "its not you, its me" do you believe it? Never if you're over 16 years old. But thats what happened. Even my colleagues were angry at the administration's decision. My boss had to deliver the news but word got back later that he felt forever guilty about this decision. Turns out, the head of school was offended that I was the only dissenting voice to a pet initiative. I was very gentle, of course, but the only one who spoke up. This initiative was actually a whole new marketing scheme and he wanted people on his side (read: yes men).
Anyways, I'm only in my early 30s and these are the only 3 post college positions I have held prior to becoming a mother. This gives me room to beef up the descriptions for each.
Wednesday, February 2, 2011
Wednesday: Snow Days!
Such kits include art supplies only used on those days, a movie they haven't yet watched, new books (from a 2nd hand store, of course) and odds and ends *(read: chores) designed to keep the kids busy when indoors (if they're not helping shovel the driveway, of course.)
Got me thinking.
A snow day contingency kit is not a bad idea for any office. Most businesses that aren't education related are operational during rough days. But any number of events can drastically reduce your staffing, customer traffic or both. Consider flu season: clinic workers are often hit hard with this disease at a time when more and more patients arrive to be treated. Misery all around. What can be done to keep both customers and employees satisfied during these times? Or if there is a major storm where few customers are shopping and your skeleton crew employees are left standing around? Or if you head an office of mainly union workers who are striking?
Outline any such scenarios for your workplace and use your imagination! First, find the bare bones solutions: the ones that will keep the bare minimum of service and satisfaction for your people. Build on that solution to find a way to really keep them satisfied. Finally, build on the satisfying solutions to make the situation enjoyable. Using this incremental approach to brainstorming is going to open a lot of creative possibilities and give your business an advantage: many times, disasters strike more than one business. If yours is best prepared to meet the disaster, your customers and employees will not soon forget you were there for them.
The clinic I use has several levels of satisfaction that they meet during this time of year for their customers:
Functional: Separate waiting rooms for flu patients
Satisfactory: Masks, santitizing lotion given to all sick paitents, flu or not; very kind reception staff; extra nurses working in non-client connected call center to field calls and give advice if clients could potentially stay home
Enjoyable: If your wait is longer than 45 minutes, you receive a $10 gift card to Target; Lunch is also provided to employees on skeleton crew days that are busy.
Friday, January 21, 2011
Friday: Write a Love letter
Here's how to write a love letter to your future employer:
1. Research companies you would like to work for
2. Out of this list, choose those with which you would best fit (organizational culture, past experience, etc.)
3. Practice by writing a love letter to the PERSON you love most
4. Write your actual letter to the company
5. Send in the MAIL to both HR and to the person who could be your future boss. Not email; response can be too immediate. Simply printing out a letter and forking over $.37 for a stamp shows that you really do care. It does.
Now, I realize #3 has the potential to turn salacious. Please remember these are love letters, not lust letters. A love letter talks about why you love that person, why you would be perfect with that person, how they complete your life, how you plan to complete theirs and all those lofty things true love provides. A Lust letter would say something like, "I like you because you're hot and I want your body. This is what I want to do with you..." While this may be true of the one you love as well, it doesn't have the staying power of the hows and whys you want to be with that person and be with them forever. Bodies get saggy but a cheerful disposition does not.
A lust letter to a business might say, "I want to work with you because I could earn lots of money and have insurance and climb the corporate letter." A love letter talks about your values and how they match those of the company's mission statement. A love letter to a business talks about how your past experience is so completmentary to that company that the love would be mutual.
And if you've ever fallen in love before (NOT lust, love) remember how they were so perfect for you that it made the whole process easier? YOUR letter is making their job search easier for THEM. And they will love you for it.
Friday: Homework for my Followers
Wednesday, January 12, 2011
Wednesday: Not all incentives are $$$
Little kids love candy and toys. Thats a no brainer. If you start using these as incentives for good behavior at a public outing, they will expect them every time. Just ask my 3 year old who didn't get jack until this past Christmas when I needed to go on 3 hour errand expeditions for holiday prep. Granted, they work temporarily, but they also create expectations and eventual disappointment (and tantrums) the times when a prize is not readily available. Now that its January and the prizes don't flow, the tantrums do.
Little kids LOVE praise, and knowing that they have pleased their parent. My 3 year old did know this at one time. But they only love it if they are given this when earned. Not for every little thing, mind you. Then they expect their ego stroked non-stop, but when they've put in the effort to genuinely please you and get noticed, they love that reward. Now this reward sucks if they are given candy most of the time and then get a mere, "I'm so proud of you." Not starting this way creates bad habits that can be broken but are difficult to fix in that process. Other cheap rewards are playing their favorite song in the car when you would have had your music time, or one on one time with a parent. For my 3 year old, a fishing trip to the local river means he's been extra good.
So your business has fallen on hard times and you cannot give a raise. What else can you give a loyal employee? My last job had this situation happen and only the top 10% of performers got a 1% raise (yes, 1%) because they wanted to recognize them, but could not afford more. When I was notified of the raise, I politely thanked them and asked if I could get it in vacation time instead. They gave me a blank stare and then I think the reviewers would have kissed me if they could. This would save them money. Instead of a very small amount of extra income which would add up to not much extra after taxes, I got 4 extra days off that year. I would rather have that extra time with my family than the extra income. And technically since it was paid vacation, it was not decreasing my income. From their standpoint, they did not have to pay me extra and I was one of their best workers so they knew they would still get the same or more out of me. Win-win.
Some employees want more responsibility to add to their resume (though don't assume this if you cannot provide a pay increase with it.) Some would be flattered to be invited to that networking group you belong to. Or some have other ideas - ask. A good employee is worth their weight in gold and if you can't fork over the gold, find something they value as much.
Wednesdays: Lessons for Business from Motherhood
Things you learn raising children that apply to being a successful businessperson. Sometimes explaining a concept is easier if you tell a story about that concept in practice. Example, the feeling sad.
Webster's defines sad. So does wikipedia. But I understand it better when someone says, "remember how you felt at Grandma D's funeral? I think thats how sad I am."
Moms who haven't worked in a while do miss you on every day business experiences so this post may be a bit of a refresher or a learning experience, depending on where you come from.
Tuesday, January 11, 2011
Tuesday: Stock tip for dummies
This can mean any type of material good that is used either on its own or to create another product.
I watch stocks a little... mostly just let them ride because returns are just as good as stressing over the market on a daily basis.
But I really comb the news for pieces on 'commodities.' The things that things are made of. It stands to reason that if a commodity is in trouble, items that are made using said commodity and companies that use large quantities of said commodity are in trouble.
Coffee... one of my favorite commodities.
Prices have been drastically increasing on this one. Remember those Starbuck drinks that you paid high prices for. Now to make them "your way," you have to pay for each step of customizing the drink. Because of an increase in the coffee's prices. Coffee's increase in cost/price has been known for a while but is only just affecting their stock prices.
Do a simple test by checking stocks of such companies. If the stock has risen, research that company to find out how they are shifting their finances to increase their stock. Because they are. Maybe not illegally, but a steady or increasing stock price in a company reliant on an unlucky commodity will affect that company somewhere. Just be aware of it.
Tuesdays: ...For Dummies
Maybe the reader hasn't studied business, fair enough. Or maybe they have. It takes a LONG time for concepts to think into my brain. I wish someone would have explained some things in a 'nutshell' for me. But using real time words.
So these are my nutshells.
Monday, January 10, 2011
Monday: Past Work Experience II
I forgot about this one! When I had my first child, I had a hard time finding baby shoes that stayed on a newborn's feet. They like to kick a lot. What I did find was made of leather and extremely expensive. Now I do not mind paying $30 for footwear but for footwear that fits feet for a very short period of time that they only wear in doors? There was my objection.
I deconstructed a pair given to me, remade the pattern and purchased a sewing machine. I do have some experience in sewing. I made a few pairs for family, who recommended them to friends and by the end of my first year had covered my initial investment.
This was a FANTASTIC lesson in both entrepreneurship and in setting price points.
Lesson 1: about a quarter of the people who say they would purchase your product actually do when you create said venture.
Lesson 2: That doesn't mean that anyone else will.
Lesson 3: Prices usually end up being lower than you thought or than your initial customers think they should be.
Lesson 4: Your market may not be what you think it is... I can easily charge $10 for a pair of these shoes and still profit. I discovered this in my first year through trial and error. But my mistake was thinking only thrifty moms liked this product. What input did dads have? Not usually many objection over a $10 shoe. However, when I did start making shoes with sports team logos, they would not stay on my shelves. Locally, I can get $15 for them; on craigslist, they sell for $20. Think outside the box.
Marketing has been minimal; business comes by word of mouth. But I have had to halt production at times when I am late into a pregnancy or just plumb busy. Naptimes or after the kids are in bed are 'production time'; but the work is detailed and quality declines when I am in these more tired stages. Business is steady when I allow it to be... which gives this venture many possibilities.
Monday, January 3, 2011
Monday: Past work experience
- Grant Writing
- Event planning & execution
- Data Mining
- Customer Service
- Interim Director for Admissions during search for Director
- Publication of advertising materials
- Coordinated school visit days for prospective students
- Administrative work for the Fundraising offfice
- Volunteer Coordinator
Basically, I ran the office for less pay than the director. Halfway through, the director quit and I ran the show for 6 months until a replacement was hired. By the time I left, said replacement was still learning the ropes and I was still doing the majority of the work though she was now directing the strategy.
Good job for balancing family time while gaining experience in a difficult market. But bad because of the poor pay and little recognition for the responsibility took on. Obviously I wanted more responsibility to beef up my MBA but basically I was the secretary that would take everything on.
So my dilemma with this one is, how do I convey the vast amount that I did for this job without coming across as bitter that I did more than those above me. I'm not conceited about this; others will agree with the above description. But in an interview or on a resume, it comes across as snotty. How would you couch this on a resume or in an interview?
Monday: Resume Assembly
Putting bits and pieces on here that I can use to piece together a banging resume. (Been reading Jamie Oliver's cookbook so excuse the slang.)
I realize I cannot post full details of past employers without giving out food for identity thiefs but I think I can give a fleshed outline. This is the part where I would love feedback.