Working for a Startup – What You Should Ask

Joining a start up can sound like an exciting adventure. The company is new, so you’ll have the opportunity to determine its goals and direction. You can decide on your role and job description. These are all great possibilities, but before working for a startup, be sure to ask these questions.

Having a clear idea about the history and future of the startup can determine whether you’ll be wasting your time or investing in an exciting step in your career.

Does the startup have a mission, vision and set goals for the year?

It may seem unbelievable, but I’ve dealt with a startup that had a mission and vision, but an unclear business direction. The company didn’t have clear goals for its first year of business. That also meant it didn’t have goals for the three year or five-year mark. The company didn’t even have a clear business plan for its first year of business.

The management team had a business idea, a target market, and they created a product which they tried to sell to anyone who wanted to buy it. As you might have guessed, the company struggled throughout its entire first year to find customers. Before joining the startup, find out more about its mission statement and vision as well as its goals.

Does the startup have a marketing and sales plan?

Before opening for business, the startup should be clear about its target market. It shouldn’t be trying to sell to anyone who would want to buy its products and services. It helps to create a clear avatar or client profile. A company that aims to sell to everyone sells to no one.

Next, when the startup has a target market, check that the company has a marketing plan. How does it plan to generate leads? Once they have a steady supply of leads and prospective customers, does the company have a sales team to close the sales?

The journey for the customer doesn’t end with the sale either. Find out if the startup has a plan for fulfillment. How does it plan to deliver customer service and ensure that its customers are happy with the product or service that it purchased?

If the startup cannot provide clear answers to your questions about marketing and sales, then it is highly possible that making sales will be a challenge for the startup.

Does the startup have an HR department?

A startup with a remote team has its own unique challenges. For example, when a new member joins the team, do they have a system for onboarding them? Are there contracts and other papers to sign? What applications and software does that new person need to download or update so they can get in the loop with communications?

The person or department that is human resources (HR) will need to address all these onboarding questions. HR will also need to help define the new member’s role in the organization.  Having an HR person is also helpful if a new member has an uncomfortable situation with a team member (an argument, lack of professionalism, etc) and needs help resolving the situation.

Do you have clear goals for yourself?

Some people join a startup because of the career opportunity that it presents. You might be interested in a role in the startup but you don’t have any experience in that role. You could volunteer to gain experience in that role.

You might have been attracted to working for a startup because you have experience at a specific role and you want an opportunity to apply your experience with a new company. The culture, policies and direction of the company are still new, so you have a chance to shape the role in the company, which might not be possible with an established company.

Summary

Working for a startup can be an exciting endeavor. It’s like looking at a clean landscape and having the opportunity to decide what will be constructed on it. However, before you join, find the answers to some important questions about the company first. These answers will help you decide if you will be getting the experience you want.

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Working with a Remote Team: What You Need to Know

Remote work definitely has its perks – no commute, flexible work time, and relaxed dress code. Working from home can also be a bit of a downer. You may feel alone compared to working in person at the office. Working with a remote team isn’t the same as working face-to-face, but when done well, you’ll feel a sense of community.

Here’s what you need to know about working with a remote team, from the culture to the technology of communication.

The Tech that Connects Across Borders

Remote work is like taking all the people working in the same office and scattering them apart like jigsaw pieces.

It’s the same team, but each person is in a different place. Your reliance on technology increases thousandfold, while your ability to read people through body language (smiles, frowns, crossed arms, slouches) becomes almost obsolete.

You’re learning a new way to communicate.

Remote teams decide on what types of technology to communicate urgent messages, lengthy messages, schedules, and work tasks. You’ll be learning what type of message goes on which platform and when.

For example, messaging apps like Telegram, Signal, Skype, and Whatsapp might be used for group chats for instant and urgent messages.

Platforms such as Asana, Monday.com, Clickup, and Zoho can be used to track work tasks. Information for each task includes who the task is assigned to, when it’s due, what needs to be done, progress as multiple steps in a task are completed, and extra notes on what a team member needs to know.

Knowing what messaging goes where and how often you need to check and update various chats and apps is crucial. If you’re confused about the system, then communication can break down fast. If communication is clear, then it will be efficient, no matter where everyone works and what time zone they are in.

Remote Teams Socialize at Odd Hours

Over time, you’ll adapt to the time zone differences and learn to work around them. For example, if you live in Canada and your role in a task is completed first, then you’ll leave instructions about what you’ve done in the project management application. When your teammate wakes up in Europe, your teammate will then work on the next step in that task.

Notes to your teammate about when something will be done, or when you can meet for a quick virtual chat will automatically include a date, time and time zone. You may even readjust your sleep schedule so that you can work at the same time and respond to messages more quickly.

I’ve worked with a remote team with members in Europe and Asia, so we discovered our sweet spot for messaging each other in a steady flow of conversation was best in the early hours of the morning.

Just like water cooler conversations at the office, conversations can become social during work hours. The main difference is these conversations take on a more international theme.

For example, you might trade food photos to compare local cuisine, or compare notes on how you celebrate Christmas in your part of the country or the world. During the pandemic, the remote team I worked with shared stories about the pandemic and how people survived in each of our countries.

You start to make friends in other parts of the country and other parts of the world.

Getting on the Same Page with the Team

When working with a remote team, you may find that one of the biggest challenges is getting everyone on the same page. Whether your team members are located in the same city or in different countries, it’s important to have regular meetings to go over big picture goals.

The team should have a regular meeting at least once a week to review the major goals and priorities of the company. If new projects are starting, the team should discuss the purpose of the project and go over any questions people may have.

Summary

Working with a remote team is different from working in-person with your teammates. You’ll need to be familiar with technology and the system that your company has set up for people to communicate with each other. With a global team, you may even need to change when you work or, at least, when you expect your teammate to reply. However, working remotely may also have its perks, such as making connections with people from other parts of the world.

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Why Is Marketing Important?

What’s the difference between sales and marketing? That’s a question someone once asked me. Sales is when a customer buys from you and happens after a customer knows what it is that you sell. The marketing comes first. But how do you persuade people to reach that stage when money changes hands?

You need to tell people about how your business helps them. That’s why marketing is important – without it, a business may not get any sales. Here are some of the vital roles that marketing plays in the birth and survival of a business.

Tell the world what it is that you do.

Hundreds of businesses are born everyday, and most of us don’t know about them. Through social media posts, newsletters, videos, advertisements, and other multi-media, these businesses build their brand by telling us their story.

They tell us what it is that they do, what market they serve, and how they can solve our problems and make our lives better. Without this content marketing, we wouldn’t know how a certain business can help us with our needs.

Competition is fierce.

In an ideal world, your business would be the only one of its kind, but it most likely isn’t. How do you stand out from the crowd? Why should a prospect pick you? Your marketing message needs to clearly say what makes you different.

Is your product the most advanced in your niche? Does your service offer perks that your competitor does not? If the answer to both questions is No, you can still get the edge with something as simple as personalized service that makes your customer feel special. When you have customer loyalty, you can be competitive.

Marketing to a global economy.

Technology has made it possible to market businesses to a global economy. You are no longer restricted to your own city or country. Many prospects use a business’s website to decide how legitimate a business is and whether they want to do business with them. Your website can also make your business seem larger (with more staff) than it is just by how you present your business online.

Social media and your online presence have the important role of reaching out to your prospects and building a relationship with them. A prospect in Europe may subscribe to newsletters and YouTube videos for your business based in the USA. They’ll read your customer reviews and how you respond to those reviews. Over time, they develop an interest in your products and buy from you. Developing that trust is important when there are so many possibilities for scams or problems when you’re working with a business far from your home.

Marketing for consultative sales.

A transactional sale is simple and common. You’re thirsty so you buy a bottle of water from the nearest grocery store. When you buy something you need from a business that one time and possibly never buy from them again, you’ve made a transactional purchase.

Most businesses want more than a one-time purchase from a customer, however. Imagine hundreds of people buying from your business once and never seeing them again. Not a great return on investment after all the money you put into your marketing.

Instead, it’s important to focus your marketing on building relationships and establishing customer loyalty. You want your customers to buy from you time and time again. With consultative sales, your goal is to establish a long-term relationship with your customer. For example, offering discounts for repeat customers and providing customer loyalty programs.

Summary

Marketing has an important role in the survival of your business. It builds customer loyalty, raises awareness of what you do to a wider audience, and helps you stand out from your competition. Successful marketing helps you close more sales. Marketing is a vital component that helps a business gain and maintain customers.

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Is Buying Real Estate a Good Idea?

You’ve probably heard this question asked multiple times, but this is probably the first time you’ve heard this answer. Is buying real estate a good idea or should you rent? Here’s an answer from the perspective of what jobs skills and education you have.

Why You Should Rent for Now and Buy Real Estate Later

First, before we talk about buying real estate, let’s begin with renting. You’re likely living at home or renting while you consider the big move into investing in a property. Many factors go into a decision like this, including your income, cash flow, and future plans. Renting makes more sense if your situation is the following:

  • You won’t be living in the same location for a long time or you aren’t certain how long you will be at that location.
  • Your income is unstable. For example, you have been hired on a short-term contract, you work hours fluctuate from month to month, or you are still on probation with a new job in a new career that you may/may not like.
  • Market conditions are not ideal. Factors to consider are inflated market prices, mortgage rates, and available inventory on the market. (If you don’t like what’s available to buy, it’s best to wait.)

But let’s say all the ideal conditions line up. You’ve found the city that you want to live in for the next few years, you’ve been working for a while for the same company, and there are a few listings on the market that look like a possible dream home. Buying real estate now may be a good idea.

Why Buying Real Estate Now is a Good Idea

Buying property is a great investment if you’ve got the cash flow, income, job skills, and a stable future.

First, you’ve found a city that you want to settle down and call home for a while. You’ve had your eye on a few neighbourhoods that you would feel comfortable living in. The market and economy are in your favour, with interest rates and a price you can afford.

Second, you have job skills that are in high demand. It’s easy for you to find work because companies are hiring for your job description or you have specialized skills that companies want. You will be able to find a steady income no matter what condition the economy is in. If you can’t find a job, you will have enough experience to be able to freelance and find work on your own.

Now, say you want to take real estate investing a step further. You can find ways to pay down your mortgage faster and turn it into a business investment.

At the end of the workday (or whenever you have free time), read books and learn about investments. Increase your cash flow by investing in stocks or something else you have strong knowledge in to help with mortgage payments. A financial education isn’t just about what you learn in a course. You can increase your knowledge by taking initiative.

Another option you have is to turn your home into an investment by renting out a room or suite in your house. If you have a side business, such as freelancing, or you own a business, you can write off the areas of your home that you use for business. For example, a room that you use as an office or a meeting room to meet with clients.

Some people will buy a new house without considering their own personal preferences when choosing furnishings. For example, when deciding on types of appliances, type of finish for kitchen cabinets, and interior paint colour, they will choose what most people want to buy. A few years after they buy and live on the property, they plan to sell it for a profit.

Summary

Buying real estate is not a simple decision because of all the factors involved. Two factors that will impact when and if you buy are your job skills and financial knowledge. The more skills and knowledge you have, the more options you have for paying down the mortgage or turning your home into an investment.

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How to Develop an In-Demand Skill Set

How pandemic-proof is your skill set? If a global event disrupts the economy, would you have a job tomorrow? Many people lost jobs last year, but those workers with high-demand skills were able to do one of three things.

These workers kept their jobs, they were snapped up by a new company if they were laid off, or they pivoted with ease into a new industry. Those are the perks of an in-demand skill set. You’ll always be able to find work. To ensure the stability of your income, you’ll want to continuously improve on this in-demand skill set which should include the following skills.

Speaking Skills

Strong speaking skills are one of the top skills that will land you a job, improve your job performance, and advance your career.

  • At job interviews, you’ll be able to give concise, well worded, and confident answers.
  • Your elevator pitches will persuade your listener to believe in your cause or invest in your project.
  • When presenting an idea or your boss, co-worker, or client, you’ll deliver your concept in a persuasive and effective manner. The other party will either agree with you or respect you if they disagree.
  • Customers and clients will trust and understand your advice.
  • Your presentations at meetings will be well-organized and polished.

Clarity and confidence are important on the job for people to understand you and believe what you say. To develop your speaking skills, work on the following:

  • Time and record yourself speaking about one topic for one to three minutes. Listen to the recording. Does your speech have a beginning, middle, and end? Do you speak smoothly, or fill your pauses with ums and uhs?
  • Practice giving a presentation to someone you feel comfortable with, such as friends or family.
  • Watch videos about public speaking and try to implement a tip into your speaking practice. For example, focus on the volume and pitch of your voice one day, and focus on your vocabulary use for an impromptu speech on another day.

Sales Skills

Here’s a fact you probably knew but may not have thought about: you need to be able to sell to be successful. Many people don’t know how to sell or are afraid to because of the slimy, desperate, dishonest salesperson image that we associate with selling. What you should know is that sales in every day practice is more subtle:

  • Selling your concept or idea to your boss at a meeting. Selling is persuading in this case, and if you can’t persuade, then you can’t get the other party to agree with you.
  • Selling your boss on a job promotion or getting a raise. Why should your boss give you that job title you want? Why should you get an increase in your salary? Again, if you aren’t persuasive, you won’t achieve what you’re looking for.
  • Selling to your customers and clients. The obvious result of a successful sale is if your client buys what you are selling. However, there are other levels of selling, such as getting the customer to trust you and build a long-term client relationship with you and your company.

Sales is a skill that can developed over time. It’s a high-demand skill because every business needs sales to survive. To work on your sales skills, practice the following:

  • Read books and watch videos about sales tips and techniques. Understand the psychology behind why some sales techniques are effective.
  • Practice selling something to someone you feel comfortable with. As you gain confidence, work on selling something to a stranger. For example, convince someone you don’t know to try visit a place you like.

Writing Skills

Writing is an important skill for communication and professionalism. Your mastery of this skill increases in importance if your work involves a high level of accuracy and/or or political correctness.

  • Writing emails that have few grammar, spelling or punctuation errors reflects on your level of education and professionalism. If you make a lot of mistakes with words like they’re/their/and there, your writing can look sloppy.
  • Verbal communication is easy these days with voice messaging apps, but writing is important for keeping records. A letter or email saying that you will have something done by a certain date is a solid promise of what you will do. In some cases, written records can become evidence if there is a lawsuit.
  • Written reports and other documents are a permanent record that will be referenced in the future. Your choice of words and the clarity of your thoughts will be vital to the professionalism and accuracy of the document.

Writing skills need a lot of practice and time to develop because you need to learn grammar, spelling, and vocabulary. You can also try these activities:

  • Copy a piece of writing that is written in the style that you want to learn. By copying it as practice, your brain starts to learn that writing style.
  • Practice writing each day. Use writing apps such as Grammarly to review and give suggestions on how to improve your writing.

Leadership Skills

Career advancement is difficult without leadership skills. Empathy and understanding the people you work with, and being clear and organized about when you want something done are both in-demand skills.

  • At most companies, a promotion means becoming a leader of some kind, which means you need leadership skills. You need accountability and responsibility to lead a team, become a supervisor, or become a manager. It’s rare that an employee will receive multiple promotions for a job in which they work solo. Leadership skills can be learned from on-the-job training or taking a course.
  • As an owner of your own business, even for a sole proprietorship, you still need to know leadership skills to manage your employees or contractors.

Technological Savvy

Ongoing mastery of technology is key.  Software is constantly upgrading to new versions and companies require their staff to learn new programs and platforms over time.

  • Larger organizations have replaced processes with technology to simplify the work of employees. For example, paper-based time sheets have been replaced by computerized time sheets to make the calculations easier for the accounting department.
  • Companies with employees or clients in other cities or countries are using technology instead of in-person meetings. For example, the technology for a Zoom meeting is less expensive than flying people and booking hotel stays.
  • While it’s still possible to call someone on the phone, or walk over to another person’s desk on the same floor, communications applications make it easier to share files and messages between office workers and locations. Members of one chat can see what actions have been completed by various team members involved in the same project.

Fortunately, it’s easy to find videos on YouTube on how to use all the latest platforms and software. If your co-worker or your company IT department hasn’t answered your tech question, you can educate yourself on whatever technology you are using.

Summary

If you aren’t sure how to develop an in-demand skill set, start by looking for skills that are transferrable from one industry or niche to another. In times of economic hardship, these skills will continue to find you steady work. Strong speaking and writing skills, and sales and leadership skills are just some of the skills that are always in high demand. Can you think of any other transferrable, high-demand skills? Comment below!

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