You are reading the article Job Hunting In A Pandemic: Advice For New College Grads updated in December 2023 on the website Bellydancehcm.com. We hope that the information we have shared is helpful to you. If you find the content interesting and meaningful, please share it with your friends and continue to follow and support us for the latest updates. Suggested January 2024 Job Hunting In A Pandemic: Advice For New College Grads
Entering the Job Market
Landing your first job in 2023 requires flexibility, but the outlook is positiveThe job market is beginning to heal from the COVID-19 pandemic, but 2023 graduates will still need flexibility, resilience, and determination for their job hunt. And they should not let the uncertain times alter their fundamental goals, career experts say.
In the job market, “there may be areas that are thriving and areas that are hurting right now,” says Denise Mooney, associate vice president for enrollment and student administration, who oversees BU’s Center for Career Development (CCD). “But that’s always true. A classic career-development caution is, don’t try to identify your career by figuring out what’s recession-proof or change-proof or whatever.
“Being flexible is absolutely important,” she says, “but look for places to put your strengths and skills to use in the service of your interests and your goals.”
Mooney says she is more optimistic about job prospects for this year’s graduating class than she was for last year’s. The Class of 2023 graduated into the worst economy since the Depression. Many of last year’s graduates, who had already accepted offers during the winter, saw them rescinded as the pandemic tore through the economy, bringing whole industries to a standstill. Last month, in contrast, the nation added 916,000 jobs, the third consecutive month of accelerated hiring, and unemployment, at 6 percent, was less than half what it was a year ago.
Career experts at BU say they’ve noticed a turnaround as well. The number of job and internship postings on Handshake, the University’s online career platform, was 30 percent higher in February 2023 than it was in February 2023—before the pandemic hit.
Diane Kern (CAS’76). Photo courtesy of Kern
With many industries in a state of flux, confidence is the other important element for a successful post-pandemic job search.
“It’s important to remind yourself that the pandemic is not your fault,” says Diane Kern (CAS’76), a Washington D.C., clinical psychologist, wellness expert, and career coach at chúng tôi “If that dream job does not materialize, it does take a hit on your confidence even though it has nothing to do with you. It’s not a function of how smart you are or how good you are at what you do.
“It’s about adjusting your expectations and being realistic without getting discouraged,” Kern says.
One thing hasn’t changed for members of this year’s graduating class, Mooney says: “Their BU degree is setting them up to be in as good a shape as anybody. They just have to treat looking for a job like a job in itself.”
Job market highlights“There are definitely pockets in the market that are extremely strong right now,” says Scott Singer (CAS’93), founder and president of Insider Career Strategies Resume Writing & Career Coaching in Hallandale Beach, Fla. “Finance and accounting? Very strong right now. IT is doing very well. Marketing is doing well. Even sales. Anything associated with a core business’s mission, helping it become more profitable.
“Especially with a lot of companies where they’ve had to be more creative over the last year,” Singer says, “people that can think creatively outside the box and contribute in a meaningful way” are in demand
“There are some new fields that have grown considerably,” Kern says. “Technology has taken off. My investment club has done quite well. I won’t say the name of the particular platform we are using right now, but they have done remarkably well. Who knew that was going to happen 18 months ago?”
Another area booming amid the pandemic is the supply chain and logistics field. “The Suez Canal situation recently demonstrates why. You have one ship that gets blocking the way and it’s going to screw things up from Asia to Europe for weeks,” Singer says. “People who are focused on making supply chains more effective are going to find themselves very much in demand.”
Scott Singer (CAS’93). Photo courtesy of Singer
“Where people are going to see more challenges are a couple of areas, first and foremost—and this shouldn’t be a surprise to anybody—traditional retail,” he says. “A lot of traditional retailers, with the exception of grocery stores and big-box discounters, are just in terrible shape right now. They had been going through a lot of transformation before COVID hit, and COVID really made things more difficult for many of them, especially the companies that didn’t move to e-commerce.”
Overall, the jobs market is very good, Singer says, and will continue to improve. Anyone “involved in helping a business operate more efficiently, more cost-effectively, and deliver a return, they’re going to find themselves in demand.”
Still, job seekers will need to operate a little differently in today’s market, he says. “They’re going to have to realize that unemployment is still relatively high, especially if you calculate the people who have given up looking and then when they see things start to perk up they put themselves back into the job market. So there is going to be a lot of additional competition there.”
“The more prepared you feel the more confident you feel,” agrees Kern, who also points to the US Department of Labor pages for jobseekers as a good resource for info about the job market.
Don’t let the circumstances throw you“Right now, it’s really scary for a lot of people, unfortunately,” says Kern, author of the forthcoming book Go Forward to Work! How to Use Your S.P.I.E.S. to Get Your Right Fit Job During a Pandemic.
“I have a neighbor whose son was due to graduate from college last year, but because he could not do his internship in physical therapy due to the pandemic, that got shut down. That held him up another year. A lot of young people have experienced a lot of disruption of their plans.”
She says it’s critical that young job seekers be prepared to pivot. “If a lot of their expectations have been dashed, or if opportunities are not apparent, being able to change gears is important. It is important not to let your disappointment turn into discouragement. It is going to be important that you stay focused, that you find the energy and the motivation and the drive to keep going.
“Maybe you started out college with a set of expectations that now, due to COVID, have changed. If that’s the case, you might need to reassess and readjust. Then it’s time to address the situation as it really is. As human beings, we can be flexible. And at your age you can recover.”
Kern also says that new graduates may want to consider pursuing further education or aim for a springboard job that can lead to what they want to do.
“Plan B may take you a little longer to get there, but you can get there,” she says. “And remember, it’s your journey, nobody else’s. From a mental and emotional standpoint, don’t use anybody else as your yardstick. Your journey is your journey. It’s fine to be inspired by somebody else, but don’t put yourself down because of them. Celebrate their success, and recognize that yours is coming.”
Explore Related Topics:
You're reading Job Hunting In A Pandemic: Advice For New College Grads
How To Get A New It Job In 2023
After a long winter break, it is not unusual for professionals to emerge using a settlement to create their next career move in the season ahead. What’s rare this season is they’ll need to do this amidst a worldwide pandemic.
How can that change the sport for IT professionals starting their hunt from the months ahead? What vintage measures stay the same? And what if soon-to-be job seekers do today — until they start their search — to get a leg up?
8 ways to prepare to get a job 1. Be realistic about your optionsFahim Sheikh
“Throughout the pandemic, it is overriding to become realistic and educated about your career choices,” says Sheikh. “Know what places you’re proficient in and different operational areas that could make it feasible for the transition to be smooth.
Prior to making any substantial move, do your homework, and be amenable to the chance of not obtaining the job you planned to possess.”Should you opt for your dream job, be sure to have the skills to back up your resume, says Sheikh. “Remember, it isn’t just you with these abilities. The best way to focus and grow your abilities can prepare one for what is coming.”
2. Ensure you are emotionally readyAndrew Taylor
“If you are prepared for a relocation, there are a couple of actions that you should take to be sure you’re prepared for the moment the moment it comes to produce the moment occur, because occasionally, you’re never going to feel prepared,” states Taylor. “Separate your work in the own position.
You may take pride in everything you can do, but if you are thinking about making a transfer, you have got to discharge ties emotionally. Be restless on your present location. You are probably comfortable — becoming uneasy.”
3. Tap your network…remotelyRemember different men and women? You used to see these round the workplace or in conferences. It is time to rekindle these previous relations — particularly if the pandemic has kept you out of touch for some time.
“This is a time to draw on your network and on your networking skills. Make sure you’re keeping in touch with people you used to see every day but no longer interact with in your remote setting. Ask them how they’re doing. Find out about any job opportunities,” says Andrei Kurtuy
If your present network lacks the links you will need for the next career move, concentrate on increasing your network — a thing that’s still possible despite social distancing, states Kurtuy.
“You can begin a side project with a few friends or former coworkers. Should you record the procedure and place it online, you can connect with people that you’ve never met. Are there any contests or certificates you can go for?
Also read: Top 10 IoT Mobile App Development Trends to Expect in 2023
4. Look for stepping stone opportunitiesNow that most jobs are remote-friendly, job hunters have more opportunities than ever. Consider how you can use this time to gain the experience you’ll eventually need for your dream job, says Steve Cochran
“Anyone searching for employment now has to be adaptable in their job hunt and eager to go to a job to find out something new. Tech professionals must remain forward-thinking and continuously exploring new technologies and theories,” says Cochran.
“Technology is among those fastest-moving businesses and if you do not stay current, you risk falling behind in the current market and dropping out on abilities which add value for your company.”
With more programs being assembled on cloud suppliers, Cochran proposes pursuing certificates from public cloud services, in addition to safety-related certificates for programmers.
5. Get comfortable with virtual toolsJob hunters might need to get accustomed to the fact that nothing is exactly what they’re utilized to. Not only will the whole interview process happen almost, but new hires might not get to fulfill some of their co-workers face for months as soon as they are onboarded.
Hiring teams will be on the lookout for candidates that are familiar using virtual tools and communication efficiently while distant, states Chris Bedi, CIO of ServiceNow.
“Given lots of hiring procedures have shifted into a 100 percent virtual encounter, candidates must prepare for the development of new digital tools to conduct specialized interviews, letting them demonstrate their acumen and perform challenges on the fly,” says Bedi. “In ServiceNow, this kind of interview experience has been done in a cozy environment and empowers us to find that the candidate’s greatest version of these.”
“But everyone will have to correct and admit that sometimes our situation may be unpredictable. Technology does not always cooperate, and there may be hiccups on the two ends through the procedure,” he adds.
Learning how to use these new instruments to their fullest might assist you once you are hired too, Bedi points out:”A crucial part of each career move is studying the culture and ramping up on your new project.
It’ll be important for anybody building a career become intentional about studying the culture, forming everyday connections, and learning the enterprise.
Also read: How To Make 5K Dollars In A Month? 20+ Easy Ways To Make $5,000 Fast + Tips!
6. Build your personal brandYour resume is significantly less important than your system, states Thomas Phelps, CIO in Laserfiche. As you prepare for the next career move, concentrate on building your own brand and sway on your circle of professional peers,” he proposes.
“The immediate response to an impending job reduction is to upgrade your resume. To me, what is more important — while you’ve got a job — would be to be sure that you construct a network of individuals that know that you and the fantastic things you’re able to do to address their business issues,” says Phelps.
Actionable measures Phelps urges include: volunteering for a nonprofit IT direction firm, developing a compelling online presence that reflects your own personal brand, or talking at training.
“I am the marketing chair for Southern California chapter of this Society for Information Management (SIM) that is comprised of over 300 IT leaders, and also around the National Tech Committee for SIM,” says Phelps. “It has helped me to radically expand my community, and I have provided training and career training to other IT leaders.
It is a lot easier to create a community whenever you’ve got work, and individuals are interested in linking with you.”
7. Know what skills are in high demandResearching in-demand abilities is classic job-hunt information, but when it has been some time, you may be amazed by the way the pandemic has changed priorities for hiring supervisors.
Darrell Rosenstein
“Be cautious with all the direction you intend to squeeze into. Tech jobs that were hot only a couple of months ago are now no longer in high demand. Before changing gears, be ready with sufficient info concerning the future of this tech field that you would like to enter.”
Rosenstein proposes upskilling or tapping to transferrable skills in such regions: cloud infrastructure, cybersecurity, machine learning and artificial intelligence, and nimble.
“Moving forward, technical skills alone will be inadequate to flourish from the post-Covid19 labor marketplace,” says Rosenstein. “It required a pandemic to highlight the value of crucial soft skills, which most IT professionals never believed decisive.
Also read: 11 best ways to Improve Personal Development and Self-Growth and its Benefit on our Life
8. Have a plan – but be patientNow is a great time for technology executives to get ready for their next position,” says Somer Hackley CEO of Distinguished Search.
Even with a plan in place, know that job hunting in 2023 may be a slower process, says Hackley. “Be prepared for some ‘hurry up and wait.’
A lot of companies are just now starting to open budgets up, and while they may have good intentions to hire, I have heard from job seekers that weeks go by with no news,” she says.
Daniel AbbottDaniel Abbott is editor in chief & research analyst at The Next Tech. He is deeply interested in the moral ramifications of new technologies and believes in leveraging the data scientist, research and content enhancement to help build a better world for everyone.
Follow us :
Hunting In Synchronous Motor – Causes, Effects And Reduction Of Hunting
Hunting in Synchronous Motor
Hunting is the phenomenon of oscillation of the rotor about its steady state position or equilibrium state in a synchronous motor. Hence, hunting means a momentary fluctuation in the rotor speed of a synchronous motor.
In a synchronous motor, when the electromagnetic torque developed is equal and opposite to the load torque, such a condition is known as “condition of equilibrium” or “steady state condition”.
In the steady-state, the rotor of the synchronous motor runs at synchronous speed, thereby maintaining a constant value of torque angle (δ). If there is a sudden change in the load torque, then the equilibrium of the motor is disturbed and there is a difference between the electromagnetic torque $(tau_{e})$ and load torque $(tau_{l})$ which changes the speed of the motor. This difference torque is given by,
$$mathrm{tau_{e}-tau_{l}=Jfrac{dω}{dt}::::::…(1)}$$
Where,
J is the moment of inertia of the rotor, and
ω is the angular velocity of the rotor.
Because of the sudden change (increase) in the load torque of the motor, the speed of the motor decreases temporarily and the torque angle (δ) is increased to restore the condition of equilibrium and the synchronous speed.
The electromagnetic torque of synchronous motor is given by,
$$mathrm{tau_{e}=frac{3VE_{f}}{ω_{s}X_{S}}Sinδ::::::…(2)}$$
As the torque angle (δ) is increased, hence the electromagnetic torque increases as seen from Equation (2). As a result, the motor is accelerated. When the rotor reaches synchronous speed, the torque angle (δ) is greater than the new required value (δ)’ for the new steady state condition. Consequently, the torque angle (δ) decrease due to the acceleration of the rotor above synchronous speed. At the point where the electromagnetic torque becomes equal to the load torque, the steady-state condition is not restored, because at this point the speed of the rotor is more than the synchronous speed. Therefore, the rotor continues to swing backwards and the torque angle goes on decreasing. When the torque angle (δ) becomes less than the new required value (δ)’, the load torque becomes greater than the electromagnetic torque. Therefore, the motor starts to slow down. The torque angle (δ) is increased again. Hence, the rotor oscillates around the synchronous speed and the new required value (δ)’of the torque angle before reaching the new state of equilibrium.
This phenomenon of oscillation of the rotor of a synchronous motor about its final steady-state position is known as hunting.
Since during the rotor oscillations, the phase of the phasor Ef varies with respect to the phasor V, therefore, hunting is also known phase swinging.
Causes of HuntingFollowing may be the reasons of hunting in a synchronous motor −
Sudden changes of the mechanical load on the motor.
Sudden changes in the field current.
Cyclic variations of the load torque.
Faults occurring in the power system to which the motor is connected.
Effects of HuntingThe effects of hunting in a synchronous machine are given below −
It may lead to loss of synchronism.
Hunting increases the probability of resonance. When the frequency of the torque component becomes equal to that of the oscillations of the synchronous machine, resonance may take place.
Large mechanical stresses may develop in the rotor shaft of the synchronous machine.
Hunting increases the losses of the machine.
It increases temperature of the synchronous machine.
It can disturb the supply system to which the synchronous machine is connected.
Reduction of HuntingBy adapting the following techniques, the hunting in synchronous machines can be reduced −
Hunting may be reduced by using damper windings.
It can be decreased by using flywheel. A large and heavy flywheel is to be connected to the rotor. This increases the inertia of the rotor and helps in maintaining the rotor speed constant.
Hunting can also be decreased by designing the synchronous machine with suitable synchronising power coefficients.
Hunting For A Motherboard? Consider These 5 Critical Features First
But then you have the whole other matter of features: Wi-Fi or ethernet? How many PCIe lanes? Even RGB header options are a thing now, too. Let’s cut through the dense “over choice” and break down the five most important features you should consider when choosing a motherboard.
Wi-Fi and networkingSome of us have done it—bought a motherboard, and only realized it doesn’t have Wi-Fi capabilities when we’re trying to connect. D’oh! We’re used to many smart devices having wireless capabilities de facto. Our smart phones and even our refrigerators have it, why not our PCs? Enthusiasts of old swore by cabled ethernet, and while it’s still an amazing way to connect, wireless is deserving of our consideration.
Wi-Fi technology is vastly improved over earlier versions. Wi-Fi 6 and beyond provides lower latency, faster speeds, and less interference. Many higher-end motherboards include it, such as AMD’s X570 or Intel’s Z690 models. There are some that are still ethernet only, and if you plan to use it exclusively near a router, that’s not a bad option. For maximum mobility and flexible placement however, Wi-Fi is king. (Many homes may have their PC set up in a different location than their router, for example.)
How about 10GB LAN options? Your use case will have to determine if it’s needed. Users who want to use 10GB for networking with a NAS or similar storage device will seek out this option, otherwise standard 1GB ethernet is more than enough. Now that internet speeds have begun exceeding 1GB in some places, we can expect 2.5GB or higher connections in the future, though the bleeding-edge of Internet speeds comes with some pricey headaches.
DDR4 vs. DDR5 RAMDDR5 is here, but the launch was marred by inadequate supply coupled with confusing motherboard choice. Intel’s Z690 platform had some motherboards support DDR4 only—or DDR5 only. While DDR5 is now readily available, prices are on average considerably higher than DDR4.
Is it worth it? Not at present, with modest performance gains to show for the higher prices. When next-gen AMD eventually joins in the DDR5 dance, we’re hoping wider market adoption will lower prices, but we’re not there as of today. Faster DDR5 kits are also slated to come out as time goes on, so you’ll likely want to avoid the early adopter tax on this one.
Performance features can be a huge motivating factor for motherboard selection too, aside from just RAM selection. Enthusiasts will go for names like the Asus Apex or Asrock Formula, which offer memory reset buttons, dual BIOS support, and even liquid-nitrogen settings for maximum tinkering.
These are generally outside the scope of regular motherboard use, however. Most component motherboards have sufficient VRMs and options to handle high-end chips such as the Ryzen 9 5950X or Intel’s Core i9-12900K.
PCIe lanesPCIe lanes don’t seem very important until you run into limits—and need them. Why do people purchase expensive high-end Threadripper motherboards? PCIe lanes allow you to add a significant number of devices the more lanes you have.
If you’re building a PC with just one or two NVMe SSDs and a graphics card, chances are you’ll be fine with most platforms that offer the standard setup. That’s one of the key differences when comparing AMD’s B550 versus its X570 motherboards, for example—the latter just offers more PCIe lanes.
Have lots of stuff? You’ll need lots of PCIe lanes!
Thiago Trevisan/IDG
If you’re going the workstation route, with multiple NVMe drives and perhaps even multiple graphics cards—(Gasp! If you can get them..)—you’ll want to have adequate PCIe lanes to support them. The same holds true for PCIe add-in cards such as RAID, sound cards, capture cards, etc.
SATA ports can be an important consideration as well, even if its popularity has diminished after NVMe drives became cheaper. (Remember to watch out for interactions between available PCIe lanes and SATA ports to—sometimes one can disable the other.)
It’s all about connectionsThere are motherboards with a bevy of connections you’ll likely never need, but some are essential. First, you’ll want nicely spread-out fan headers to allow you to best route cables and install fans where needed. While all will have a CPU header, some will give you more options such as multiple system fan headers, and even water pump/AIO specific headers.
Apple
Of similar importance is having enough USB ports, too. USB-C is quickly becoming a widely used standard for many devices, and not all motherboards will have them. Thunderbolt 4 is the next step up—for those who want to make use of fast external storage or eGPU setups, this is a big benefit. You’ll find it more on Intel motherboards such as the Z690, but they’re making an appearance on the AMD platform on select motherboards, too.
How about RGB headers? You may laugh, but many PC builders (myself included) absolutely love the visual treat and customization that RGB provides to a build. Two things to know here: the older 4-pin RBG connection, and the newer addressable RBG 3-pin style. You’ll also want to know if there are more than one—some will have two to three, which helps in cable routing.
OLED panels that light up like Times Square? You don’t need ’em, but it is cool having the CPU temperature displayed there, or even a GIF of your favorite character.
Upgradability and nice-to-have featuresThiago Trevisan/IDG
Is upgradability a feature? Definitely—there’s nothing more satisfying than dropping the latest CPU release on a motherboard you bought a long time ago.
AMD has done well with allowing this on the latest X570 platform, but next release will likely need an entirely new socket, meaning new CPUs and motherboards. Intel has just recently released Z690, which hopefully will have at least one or two CPU upgrades in its future.
PCIe Gen 4 or 5 are not essential for most users now, but eventually they will be, so it’s not a bad future-proofing option.
Keep in mind a few curve balls that are almost anti-feature: For example, Intel’s LGA 1700 socket on the Z690 was different so that existing CPU coolers were not compatible out of the box with the new motherboards without a special bracket. Some manufactures like Asus had dual compatibility, but most others did not. This would go on the feature column for Asus Z690 motherboards, as it eliminates CPU cooler worries.
There are also some “nice to have” features being introduced in more motherboards, here are a few of my favorites:
Asus PCIe slot “button,” allowing ejection of the GPU without the awkward tight-space finger gymnastics required in most motherboards now
Asus NVMe screwless installation: How many of us have lost those small screws while trying to install an NVMe drive?
Fan and RGB controllers that many higher-end options include now
MSI’s Z690 Godlike has a detachable OLED screen—very cool, but definitely just a “nice to have”
Lots of choices and interesting features are out there for you to consider when you are selecting your motherboard, but keeping in mind the essential ones will make your choice easier. If you can fit in a few of these extraneous features as well, you are well on your way to experiencing the joy of PC building!
When To Quit Your Job For A Startup
There are many challenges to starting a business, making entrepreneurship a risky venture. Quitting a stable job to commit to your startup is an even dicier proposition. But if you have an idea burning within you and an entrepreneurial spirit that wants to see the light of day, find the courage to take the chance.
We’ll explore how to transition to full-time entrepreneurship and leave behind your day job the right way.
How to quit your job for a startupBefore plunging headfirst into your startup venture, create a plan and set yourself up for entrepreneurial success.
1. Start a side hustle first.Gene Caballero, co-founder of GreenPal, which bills itself as “Uber for lawn care,” was a corporate sales coach for Dell when he first founded his company. At the time, he worked from 7 a.m. to 10 p.m., Monday through Friday; 8 a.m. to 5 p.m. on Saturdays; and 10 a.m. to 4 p.m. on Sundays. Although he had limited free time, pursuing his side hustle better prepared him to commit fully.
“The courage to take the leap was not as bad … since I was doing both and was able to see our growth along the way,” said Caballero. “When the numbers made financial sense – able to pay half of my bills – that is when I made the leap. Yes, it was still scary to leave a great job for something that was not guaranteed, but it’s hard to change an industry working part time.”
Having that entrepreneurial experience while working a day job makes the risk less daunting. You still have the safety net of a career, but you also can gauge the potential success of your startup before going all in.
“In most cases, you can likely manage your paying job with a side hustle for some period of time,” added Ally Compeau, founder of Woof Signs, who left her tech sales job to start the company. “Doing this will help you define the initial business model for your own company and do some market research [and] testing to ensure that there is a customer and a need.”
Did You Know?
Insuranks found that nearly 93% of Americans have a side hustle. The most common are taking online surveys, selling items online and running a freelance business.
Tip
To cut business costs as you launch your startup, start a crowdfunding campaign and consider using a co-working space.
3. Craft a business plan.Don’t go into your new business blind. To give your new venture the best chance of success, you must design and write a business plan that considers how you’ll reach your target audience, gauge the competition, find investors and more.
“The business plan should be detailed, with an understanding of what your business is and does, your target audience, where you are at in your development stages, your competitors, projected profits and losses, and if you will require funding from investors,” said Sweeney. “If you have not already legitimized your company, now is the time to take care of those technical details like incorporating or forming an LLC, registering for trademarks, filing business licenses, and registering for DBAs and EINs.”
However, you don’t have to go overboard and spend all your time writing the plan. You’ll likely better articulate your thoughts in a more concise document.
“Unless you need to raise money from investors, don’t bother with writing a 20-plus-page business plan,” said Stephie Althouse, Ph.D. and CEO of Top-Notch CEO. “Instead, write a short, pragmatic one.”
Althouse said that this short-form business plan should outline your vision, mission (business purpose), business goals (large and small), strategies to achieve them and a 90-day action plan.
4. Network with people in your industry.In the business world, it’s all about who you know. It doesn’t matter how talented or passionate you are; if you aren’t willing to connect with people in your industry, including customers and other business owners, you won’t have nearly as much success.
“Networking and marketing are key – and they are as important as what you might think of as core skills for your business,” said Althouse. “For example, if you are an engineer and you want to open an engineering firm, of course, you need to be great at engineering. However, you need to be or get good at marketing and client acquisition – or hire someone who is. [Otherwise] your business endeavor will not be successful.”
Tip
To create a small business marketing plan, you’ll need to understand your business goals, how to quantify and measure success, and how to implement the strategies that will lead to success.
5. Don’t wait for the “right time.”There are many risks in entrepreneurship. But if every business owner cowered in the face of uncertainty, the business world would be nonexistent.
“If you’re worried about the risk with going on your own, remember that working a steady job is just as risky,” said Boyechko. “At a moment’s notice, you could lose your job, and there is no guarantee you’ll find a similar position. When you’re working for yourself, even when money is tight, you have the ability to do something about it rather than wait for a new job to come along.”
You might consistently tell yourself you’re not ready yet – that it’s not the “right time.” But it might never feel like the right time to leave a secure job position to start your own business; you can’t let that dissuade you from an opportunity.
Many entrepreneurs wait for the perfect business plan or a working prototype before making the plunge. However, time is incredibly more limited and finite than money. Once gone, you can’t get it back.
If you have a solid idea as well as strong distribution skills, risk-taking ability and a pragmatic way to support your expenses, it may be time to focus on your startup full time. You might never get a second chance.
Mistakes to avoid when quitting your job to start a businessAre you ready to quit your job and become a full-time entrepreneur? Ensure you avoid these common mistakes:
Not saving enough money ahead of time: If you have a good-paying job and want to be your own boss, save every penny you can. Set aside vacation plans and other discretionary expenses to create a small nest egg to sustain you until your business is profitable. Remember, in addition to losing your regular salary, you will also have to pay for health insurance and possibly other employee benefits.
Not doing enough market research: To make the leap, you should be reasonably confident of success. The best way to do this is to devote considerable time and effort to market research. Ask yourself the following:
Is there a need for this product or service?
Is the market for this growing or shrinking?
What is the competition like?
Realistically, how much do I need to spend to successfully launch this business?
Can I start this business without a loan?
One market research approach is looking for ways your business idea won’t work and being pleasantly surprised if you discover it has a good chance of success.
Thinking you can hire whatever skills you need: In the beginning, you’ll wear many hats and must have the skills to do a little bit of everything. If you need a specialized skill you don’t have, learn it or get a partner with that skill. You probably won’t have the money to hire everyone you think you’ll need. Many affordable online courses can teach you nearly anything you need to know, and software can help. For example, improve accounting skills with online resources, or use the best accounting software to fill in any accounting knowledge gaps.
Creating a startup without a supportive network: Because being an entrepreneur is challenging and the stress of business ownership is real, it’s essential to have a network of people who will help and support you. Tap into positivity from your spouse, friends, mentor and business network. Their support can help you practice self-care during stressful times and maintain a positive work-life balance.
Burning bridges: No matter how excited you are to leave your dead-end job and become your own boss, never make a dramatic exit by telling your boss or co-workers precisely what you think of them and the job. You never know when that company or those individuals will be in a position to help you or your new business venture. Leave on a positive and professional note, and offer to transition or even train the person taking your position.
Leaving without collecting materials: While you can’t take company property or information without permission, you may be able to take specific materials. This includes copies of your reference letters, recommendations, performance reviews, positive customer reviews and testimonials that mention you by name. You may also be able to bring names and contact information for people with whom you want to stay in touch. (If this includes customers, it can be a legal gray area, so get permission first.)
Not having the right mindset: If you’ve never been a self-sustaining business owner before, it’s easy to get used to having a steady paycheck, co-workers and a company supporting you. As an entrepreneur, you’ll need to work harder, be more dedicated, put up with loneliness, be willing to put in a lot of work without earning money at first, be flexible in your expectations and strategies, and live with uncertainty.
Jennifer Dublino contributed to the reporting and writing in this article. Some source interviews were conducted for a previous version of this article.
Students Find College Aid In Micro
Students Find College Aid in Micro-Loans and Small Donations Online services offer a dollar here and there
Carmen Rondash (CAS’10) got $30 from an online college aid site.
His father was retired, so when his mother’s jewelry designing job was vaporized by the recession, Carmen Rondash (CAS’10) was open to any and all ideas for scrounging up money for school. The Rochester, N.Y., resident stumbled across SponsorMyDegree, a two-year-old Web site that matches students with businesses and individuals willing to donate — sometimes nominally — to their education.
How nominally? Rondash, an aspiring teacher, got about $30 from several donors, notably a former educator who willed a bequest to SponsorMyDegree for recipients whose profile information listed teaching as an interest.
Of course, 30 bucks wouldn’t buy you class time through the afternoon. Fortunately, the family’s financial setback was “just a little speed bump,” Rondash says, as he and his parents found jobs and the University helped with aid. As for SponsorMyDegree, “the money is not important at all,” he says, “but it amounts to finding a dollar on the street every now and again. It takes no effort, so I am not losing anything.”
Tweak the antipoverty strategy of micro-loans to businesses in the developing world and import it to American campuses, and you’ve got the idea behind “micro-sponsorships,” “peer-to-peer lending,” and other names slapped on the budding industry of online student loans and grants. Companies in this business — among them People Capital, Virgin Money, GreenNote, Fynanz, GradeFund, and Prosper — differ in their approach, but they share the mission of connecting student borrowers with lenders or donors in the Internet era.
SponsorMyDegree is unusual in that it arranges donations rather than loans. Calling itself a “listing service,” it allows students, and graduates paying off student loans, to hit up willing sponsors for small donations, as little as $5. Borrowers complete and post a profile on the site for free; individual donors and businesses read the profiles and decide whether to donate to the student, based on her interests, financial need, or other bits of bio.
The lure for companies is that they can aim donations at students whose profiles suggest they might make potential customers (donation offers require students to respond to a company ad). The site does not release money donated to borrowers until it has verified their enrollment at, or graduation from, the schools they claim.
GradeFund gives students’ friends and family the opportunity to donate to their education if they maintain good grades (donors define what constitutes “good” and make a promised contribution every time the student hits the mark). Students must upload their transcripts so GradeFund can verify their performance.
This Web-era source of education money remains sufficiently novel and little-used that “it’s not on the radar” of Christine McGuire, executive director of BU’s Financial Assistance Office. Other observers warn that while the sites can be useful — some students have procured thousands of dollars for their education — students should familiarize themselves with each company’s requirements, fees, and interest charges and confirm that it’s a legitimate lending site.
Rondash hasn’t tapped the money in his SponsorMyDegree account yet (the site requires you to accumulate $20 before making withdrawals). He’s waiting for it to grow before paying the site’s $5 processing fee. Meanwhile, he has an account with UPromise, a corporation founded by former BU trustee Michael Bronner (SMG’82) and owned by student lender Sallie Mae that allows students and their families to save small amounts of money every time they patronize participating stores and restaurants.
Rich Barlow can be reached at [email protected].
Explore Related Topics:
Update the detailed information about Job Hunting In A Pandemic: Advice For New College Grads on the Bellydancehcm.com website. We hope the article's content will meet your needs, and we will regularly update the information to provide you with the fastest and most accurate information. Have a great day!