Archive for January, 2018

How to Determine the Salary Scale for Your Employees

To retain valuable employees and attract qualified prospects, you need to ensure that your organization is neither paying employees too much or too little. Determining the best salary scale for your employees is key to ensuring not only cost-control but also product-control. How to determine the salary range of employees is, however, quite simple if you follow the tips below.

1. Review Your Job Description

Ensure that you compare your job positions and description to other job postings advertised by different organizations. The job positions should contain similar skills, duties, and qualifications. A good place to do online research on job descriptions, requirements, and obligations is

The next step is creating a detailed description of the job by outlining all the expected responsibilities and duties, time commitment, and formal job title. You now need to think of how vital the position is to your company and the amount of effort and time it takes to complete the daily requirements. Ask yourself, what level of certification and experience does it require? What would you consider to be a fair wage if you could do it yourself? Doing this will help you get a rough idea of how much you would need to pay your employee.

2. Research Wages

Do extensive research to determine the median salary for the given position across different organizations. You’ll be able to easily forecast the amount of money an employee would expect to earn in that position while working for you. Doing in-depth research will also help you determine whether your business can afford to sustain the position you’re seeking comfortably. There are various websites that you could use to research detailed information about wages for different jobs.

3. Determine a Minimum and Maximum

Your business needs to comfortably support the salaries of your employees to turn a profit. It is critical that you don’t pay more than you can manage to maintain. You need to determine the minimum and maximum wage for the particular position you want to fill. Always start with the minimum salary you can offer and increase it slowly to the maximum amount, to act as an incentive to your employee.

4. Decide Your Payment Method

Decide whether you will be paying your employees hourly, weekly or monthly according to your capabilities and type of organization. It is also critical that you come up with a way of rewarding your employees to keep them motivated. You could also include the standard employee perks like bonuses, commission, health insurance, stock options, and reduced gym membership.

5. Allow Room For Negotiation

Always expect your employees to inquire about their wages while trying to negotiate a sweeter deal. One quality of professional employees who can offer quality services to your organization is the ability to assert their worth and negotiate a better salary respectfully. Being flexible and open to negotiations will inspire employee loyalty and maximum performance.


Inasmuch as you need to consider how to cut cost in your organization, you need motivated employees for increased productivity. It is essential that you pay them an average and fair salary in relation to their job requirements and duties.




What to Ask a Financial Advisor

Маnаgіng уоur wеаlth, nо mаttеr hоw bіg оr smаll, іs а сumbеrsоmе tаsk that many of us might want to avoid. Yоur fіnаnсіаl аdvіsоr hеlрs tо kеер уоur mоnеу sаfе whіlе mаkіng іt wоrk fоr уоu. Веfоrе уоu stаrt wоrkіng wіth sоmеоnе, аsk thеm thеsе іmроrtаnt quеstіоns.

Whаt Сеrtіfісаtіоns Dо Yоu Наvе?

Yоu nееd tо knоw whаt lісеnsеs аnd сеrtіfісаtіоn уоur fіnаnсіаl аdvіsоr hаs. Моst оf thе tор соnsultаnts аrе сеrtіfіеd рublіс ассоuntаnts, fund sресіаlіsts, соnsultаnts, оr аnаlуsts. Ѕоmе еvеn саrrу а Јurіs dосtоrаtе аnd іnsurаnсе lісеnsеs. Whіlе еvеrуоnе hаs tо stаrt sоmеwhеrе, уоu wаnt tо wоrk wіth а fіrm thаt hаs ехtеnsіvе ехреrіеnсе іn thе fіеld.

Whаt Ѕаfеguаrds Аrе іn Рlасе tо Рrоtесt Аssеts frоm Frаud?

Yоur аssеts nееd tо bе рrоtесtеd bу а rерutаblе сustоdіаn. Whеn уоu аsk аbоut sаfеguаrds, уоu shоuld аlsо аsk аbоut аnу іnfrасtіоns hе оr shе hаs rесеіvеd іn thе раst bоth wіth thе fіrm аnd аs аn іndіvіduаl. То рrоvіdе уоu wіth thе bеst sеrvісе, уоur fіnаnсіаl аdvіsоr shоuld bе а fіduсіаrу.

Соnsultаnts wіth а strісt соdе оf еthісs hаvе stаndаrds thаt thеу shаrе wіth thеіr сlіеnts. Ноwеvеr, nо mаttеr thеіr stаndаrds, thеу shоuld bе іn соmрlіаnсе wіth Fіnаnсіаl Іndustrу Rеgulаtоrу Аuthоrіtу, stаtе аnd rеgulаtоrу аgеnсіеs, аnd thе Ѕесurіtу’s аnd Ехсhаngе Соmmіssіоn.

Whаt Аrе Yоur Fееs?

Whеn іt соmеs tо fееs, уоur соunsеlоr shоuld bе 100 реrсеnt trаnsраrеnt. Не оr shе nееds tо ехрlаіn hіs оr hеr ехасt fее struсturе, sо уоu undеrstаnd hоw уоu аrе рауіng. Ѕоmе аrе fее-оnlу, mеаnіng thеу рrоvіdе а flаt rаtе fоr sеrvісеs rеndеrеd.

Ѕоmе іnvеstmеnt соnsultаnts сhаrgе а соmmіssіоn fее. Тhаt mеаns thеу mаkе mоnеу оff еасh рrоduсt уоu рurсhаsе tо hеlр уоur іnvеstmеnts grоw. Іt іs іmроrtаnt tо knоw whісh оnе уоu аrе wоrkіng wіth, оr іf уоu аrе wіth sоmеоnе whо сhаrgеs а fее іn аddіtіоn tо еаrnіng соmmіssіоns.

Whаt Ассеss Dо Yоu Наvе tо Еаrnіng Rероrts?

Аs уоur fіnаnсіаl аdvіsоr, hе оr shе shоuld hаvе dіrесt ассеss tо thе tор hоldіngs оf whеrе уоur іnvеstmеnts аrе. Не оr shе nееds tо bе аblе tо tеll уоu іmmеdіаtеlу whаt thе еаrnіngs rероrt іs аnуtіmе уоu саll.

Аt thе vеrу lеаst, hе оr shе shоuld bе аblе tо еduсаtе уоu оn уоur hоldіngs bеfоrе аnу іnvеstmеnt оf аssеts. Ву еduсаtіng уоu оn аvаіlаblе орtіоns аnd whаt аssеts аrе іnvеstеd, уоu саn bеttеr undеrstаnd whаt thе соnsultаnt suggеsts.

Ноw Оftеn Dо Yоu Соmmunісаtе

Whеn іt соmеs tо lеttіng уоu knоw hоw уоur mоnеу іs dоіng, thе соunsеlоr shоuld bе ореn tо соmmunісаtіоn. Не оr shе shоuld sеnd оut wееklу аnnоunсеmеnts аbоut thе mаrkеt. Аlsо, уоu must bе іnfоrmеd оf trаdе nоtіfісаtіоns іmmеdіаtеlу аnd rесеіvе аn ехрlаnаtіоn оn еvеrу buу аnd sеll орtіоn. Моst fіrms аlsо sеnd оut іnfоrmаtіоn аbоut thеіr mоnthlу іnvеstmеnt оutlооk аs wеll аs а quаrtеrlу оutlооk. Вrоkеrs аlsо оffеr tо kеер thеіr сustоmеrs іnfоrmеd wіth еduсаtіоnаl іnfоrmаtіоn аnd fасt shееts.

3 Tips for Recruiting the Best Candidates for Your Business

Any business will only ever be as good as the people that comprise it. As a business owner, you want the very best people working for you and representing you to the world. In order to recruit the best possible candidates for any given position, you need to entice them into applying to work for you. There is an art to doing this. Many businesses make the mistake of striving to have as many people apply as possible, rather than focusing on ensuring that those that apply are the best suited for the role.

Here are just some of the things that you can do as the business owner to increase your chances of attracting the very best candidates to your business.

Improve the Candidate Pool

When it comes to filling a vacant position in your business, you have two options. The first option is to recruit externally, by placing an advert and waiting for potential candidates to come to you. The second option is to recruit from within your business, searching amongst your existing employee for those who have the necessary traits and skills to excel in the role that you are trying to fill.

Whichever way you go about compiling your list of potential candidates, you need to do all that you can to ensure that the pool from which you are recruiting them is the best it can be. Remember, you are aiming for quality over quantity, you want as many high-quality applicants as possible. In pursuit of this, it helps to have a good idea of what your competitors are doing, especially if they are poaching much of the local talent. If your business is an electronics retailer, for example, then have a look at to see how Best Buy recruits and manages their employees.

Prioritize Those With Experience

There is no substitute for experience. When you are looking through your final shortlist of candidates, you should give priority to those that already have direct experience in the role that you are recruiting for. A candidate with experience will be much easier to train, as they will already understand the key requirements of the job, even if they need to be trained in company-specific procedures.

Another advantage of a candidate with experience is that you will be able to speak with their previous employer to get an idea of how well they performed in the role.

Raise Your Business’s Profile

The more well known your business is, and the better its reputation, the easier it will be to attract the right candidates. The very best candidates, particularly in specialized fields, can pretty much choose where they want to work and will often approach potential employers on their own. In order to make your business one that people want to work for, you should focus on building your reputation and profile.

When recruiting for your business, you want to make sure that you are hiring the best people possible. This is much easier if you have a pool of high-quality candidates to choose from, so focus on nurturing your business’s profile and take care in making your final decision.

How to Successfully Launch a New Product

The launch of a product is a crucial moment in its development process. Whether the product is received well by the target consumers depends highly on how well you execute the launch of that product. In many cases, a successful launch elevates the product – and the business behind it – to a new level of success.

To successfully launch a new product, there are several things you need to prepare. We are going to review those preparations and discuss how you can boost your chances of success in this article.

Get the Product Ready

Before you even begin to plan for the product launch, make sure the product development process is completed properly. The Small Business Support Network posted a new product development process 8 steps guide that will help you turn a product idea into a tangible product that customers can buy.

A mature product isn’t needed, but it is important that you get the product to its launch state before releasing it to the market. After the launch, evaluation and product improvements can be made accordingly.

Start Early

You can’t generate the expected amount of exposure by relying on the launch date alone. Starting early is a must if you want to boost your chances of successfully launching the new product. A great way to start early is by building relationships with the media and key influencers while the product is still in its development stage.

Once the product is ready, the media and influencers are the ones that need to receive it first. Not only will you be able to generate a lot of exposure, you can also get valuable insights that help you refine the product before the actual launch date.

Have a Solid Launch Event

A launch event is an essential part of the process. You don’t have to stage a big event and spend a lot of money on it for the launch to be successful. A simple ceremony at the store or the office is enough.

What you want to invest in is something unique; an added factor that makes the event memorable or unusual. A funny video to go along with the new product and a social media campaign that attracts a lot of participants are some of the things you can do.

The launch event needs to be accompanied by a well-written press release. The announcement must reach the right media outlets for news about the new product to catch the attention of your target consumers.

Stay Business-Driven

When you are trying to be lean and efficient, sticking with things that drive business is important. The same principle applies to the launch of your new product too. Stick with activities that generate business – or relevant, valuable exposure – and your product will generate more sales than you anticipated.

All you have to do next is make sure the promises around your new product are kept. Deliver orders on time and maintain a high level of quality to keep customers happy. The happy customers you get from the successful launch will attract more potential customers and keep the ball rolling.

3 Common Misconceptions about Scholarships

Scholarships may be confusing to many, while for others they may seem like a pipe dream. There are many myths and misconceptions floating around about scholarships, and many people end up not applying for one because of them. However, you could be leaving thousands of dollars on the table by not considering one. Here are some of the most common myths about scholarships.

Only Academic Geniuses and Star Athletes can get Scholarships

This is probably one of the most widespread and persistent myths about scholarships. While, yes, academic requirements and athletic abilities may help you get a scholarship, it goes far deeper than that.

Requirements for scholarships are as varied as scholarship themselves and some have absolutely nothing to do with athletics or academics. For instance, the Blue Sky scholarship is open to anyone who’s interested in the online marketing field. They might look at someone’s creativity, drive, and passion as their main judging criteria. If you want to learn more about the Blue Sky scholarship, visit

Some scholarships just delve into the bizarre and have completely off the wall requirements. For instance, the Duck Tape company will award a scholarship to anyone with the guts to go to prom with an outfit made out of Duck Tape. The candidates will then go before a panel of judges who will decide to whom the scholarship will be awarded.

So, if you have less than stellar test scores or aren’t particularly athletic, don’t hesitate to look at options; you may be able to find a scholarship that works for you.

You must be an Outstanding Essay Writer to be Accepted

Again, that is not necessarily true. While essay writing skills may help, the main goal should be to express your thoughts and opinions in a clear way. You should be focusing on conveying your skills, goals, and qualifications rather than being an outstanding writer.

The most important thing you should be focusing on is having the proper structure, staying on subject, and making sure that none of your essay has been plagiarized. Other than that, you should be worrying about expressing your personality and creativity instead of trying to impress the judges with your writing skills.

The Competition for Scholarships is too Fierce

While competition for major scholarships at Ivy League schools can be very competitive, it doesn’t mean that all scholarships are the same. The more scholarship program you apply for, the more chances you have of getting accepted.

Not only that, but you also have to factor in all the applications that get rejected due to negligence. Smaller, less popular scholarships often reject tons of applications because the candidate didn’t fit the profile or made errors in their application that made them ineligible. This can greatly increase your chances of getting accepted, granted you followed the requirements to the letter.


These are only some of the misconceptions circulating about scholarships. If you were thinking of applying for one, don’t let these myths stop you. There are tons of scholarships out there available for all types of students, so don’t pass out on this opportunity.




3 Facts about Asphalt Paving

Most driveways and roads are either paved with concrete or asphalt. Even though both are cost-effective, asphalt has started to gain steam over concrete for a variety of reasons. Asphalt is great for paving residential driveways as well as commercial driveways for churches, banks and hospitals, among others. The quality of the asphalt that is used matters, so if you are leaning toward using this material for the first time or to re-pave a surface, it is a good idea to consult with professionals at asphalt paving pennsylvania for an evaluation.

Here are three facts about asphalt paving to consider.


Driveways that are paved with asphalt are known to have long life spans, and a reason why governments at all levels chose to pave their roads with this material. Asphalt is also known to be susceptible to extreme heat and cold, like other surfaces. In order to maintain its health, a couple of times a week, consider sweeping debris off. This prevents the debris from falling into the tiny crevices and causing them to expand.


Asphalt is said to be more environmentally-friendly than concrete. It also helps reduce noise pollution. Since asphalt can be manufactured from recycled materials, it leaves a smaller footprint behind. Its average lifespan of 20 years means that it does not need to replaced too often. Once a particular stretch of asphalt has been deemed ready for replacement, it can be reused. As long as experienced professionals replace the area with quality materials, it can be expected to last at least another 20 years. The infrequent need for replacement adds a monetary incentive because it saves costs.


The durability of asphalt driveways means that they do not have to be replaced often. The less often they have to be replaced, the less often you will incur this expense. Even if an asphalt driveway or road starts to wear out before its time, the cost to manufacture the material is still considerably lower than other paving materials. It also takes less time to complete an asphalt project, so you can look forward to reduced labor costs, too.

Paving a driveway, road or other large area with asphalt has shown to have benefits. The material is durable, environmentally-friendly and cost effective. The longer asphalt can be kept free of debris, the more likely it is to reach its maximum lifespan.

I am discussing all kinds of business and finance topics on this blog and I hope that the information I provide will prove to be useful.