Thousands of business students graduate every year. There are some whose parents are financially gifted and supported their decision to start their own business. The majority of the graduates look forward to landing the job they wish to have which is either is banking, sales and other business related jobs.
What will be the next move when one is settled to its chosen field? How about career advancements? Career advancements continue to be the major concern among employees and executives as well. There are possible processes in achieving goal or fulfillment of ambitions.
- First step: Perform well. Don’t settle for “average” performance but instead, aim for being an outstanding or excellent performer. No promotion can be expected unless one has shown mastery of current position.
- Second step: Decide in which direction one wants to advance. A promotion is not worthwhile unless it ties up with one’s goal.
- Third step: Determine how the advancement system works in the company. There are big companies that provide “personnel advancement examination” to candidates for possible promotion. The test usually covers technical, logical, psychological and other tests to determine who among the candidates will be prioritized for promotion. Another option is to change companies in order to meet aspirations.
- Fourth step: Identify weaknesses. A lot of strong people lack one or two important business skills and these difficulties hold them back. Most shortcomings, such as inability to cope with details or difficulty asserting oneself, can be eliminated with practice or training.
- Fifth step: Build a network. Be surrounded with family, friends and colleagues who support the plan. No one can sustain the long term effort needed for real career advancement alone.
- Lastly: Hang onto a written game plan. When the plan is precise, stick to it to succeed.
If there are many who are dreaming in having his or her own business for so many good reasons, yet there are also a lot who wants to stay as an employee. They also have some good reasons in which are reasonable too.
What are the common advantages of being an employee? Well there are also many good sides in staying as a worker rather than being a freelancer. Some of them are the following:
- Regular income, if you are working, you will expect a regular salary. You do not have to worry much in expenditures for you will be expecting an income in a regular basis the only matter is how you will use them wisely.
- Government benefits, in regular situation the company owner will pay your share of governmental mandatory contribution, thus you do not have to worry in paying them monthly to get your benefits in the future.
- A chance to mingle different persons, if you are employing you will have a time to meet and be friends with your co-workers. This will help you to light-up your social life and ease boredom in the office environment.
- Non-stop learning, meeting different personnel with different talents or skills will help you endure in learning process. You will train by your superiors that made you skillful in whatever field you are taking.
Is loan something to be afraid? There are many people who wants to have their own business, they actually have talents and skills but luck of capital. The usual action that they do is to try looking for a financial company-offering loan.
When we say loan, the first thing that comes to our mind is a cash advance or credit. As of the moment, financial companies are growing in the industry. It is maybe for the reason that many needed this type of service. Even employees do cash advance if consider necessary, but for me desired to loan should controlled. We should not go for it if we do not have any fruitful plan, such as for business purpose.
As I observed, every business is maintaining a loan, the usual is to their respective bank. I do not encounter any establishment, which do not have any credit. The point is all business needed this for the advancement purposes. The only matter is how they will handle the advances. What about planning a loan to start-up a business, do you think it was a good idea? I am more a conservative type when it comes to borrowing money. If you are going to ask me that question, my answer is no. I do not want to risk advancing cash if only to start a business. If you failed for this, it will be hard looking for some resources to pay your debts.
Having your own business is a very good achievement and a dream comes true. Yes, it is dreams come true for almost everybody wants to experience running their own company. Business is a symbol of your social status, when you see someone who runs their own, the first thing that crosses your mind is, that person is well off or he / she are powerful and intelligent. However, how will you obtain or get that dream? If you have enough capital nevertheless, still confuse in deciding the type of business you will go. Then maybe this article might help you.
If you are a wise investor, the things that come to your mind in starting up a business are the selling of Human necessities. First, you will think of the basic needs, those are the food and RTW or (ready to wear). The next thing that you need to consider is your interest. What do you prefer or what caught your interest? Is it the food or RTW thing? Think about your skills and talents. Is your talent fits for the business that you want? Then think about the consequences about having the business.
Both is a good type of business, for those are the basic needs of people. When deciding what to pick. Think about the consequences such as problems that may occur, the capital that you need to spend and the click business to your area.
Advantages of food business:
- It is our main or number one need
- It is easy to sell
- Small capital needed
- small space needed
Disadvantages of food business
- Possibility of spoilage
- Many competitors
- takes time to prepare
- Needs a thorough study in handling foods, wrong handling may cause problems.
- Complicated to prepare, needs much time of study and research
Advantages of RTW business:
1. Also considered as a basic need
2. Easy to handle
3. Non-spoilage
4. Easy to pack
5. People love to shop and into fashion
Disadvantages of RTW
1.. Sudden changes of fashion styles
2. Tough competitions
3. Trendy seasons
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When planning to have your own business, it is not enough that you do have capital and business ideas or concepts. Researching needed also, you need to know things that are essential to study when you start the operation and one of that is the Cost-benefit analysis.
Cost-benefit analysis defined as a method in assessing the expected costs and benefits in a particular or various projects to evaluate and come up with the most advantageous or profitable among the choices to the company. This is valuable in decision-making specifically if you are into big projects. Cost-benefit analysis has a key role to the financial matters, for one of the functions is to determine the net result. Cost benefit analysis needed to have accurate data from the finance and accounting department, for it identifies and collects all positive factors, which represents the benefits and all negative factors, which is the costs. Those data are in need for the effective calculation.
After reading the roles of cost-benefit analysis in the business, we will come up to the judgment that it is one of the important factors to the business operation that affecting to its growth. Good analysis is important before making decision in every aspects of the business most importantly to the financial matter. It is not good to just spend or invest money without the proper method or study.
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