Zigsaw Blog

Month: July 2021

  • What Are Pre-Employment Assessment Tests? How to prepare?

    Pre-employment exams are a systematic, objective method of collecting information about candidates throughout the recruiting process. All professionally created, well-validated pre-employment exams have one common factor: they offer a quick and accurate way to learn about a candidate’s talents and personality qualities. Pre-employment evaluations, based on the type of exam used, can provide useful information about a job applicant’s capacity to execute in the work environment.

    What are Pre-employment assessment tests?

    In recent times, pre-employment exams have grown in popularity to filter and manage large applicant streams. The Internet has made it simpler than ever for job searchers to apply for employment; according to one research, every corporate job posting receives an average of 250 applications. Some job searchers, dubbed “resume spammers,” send out mass email blasts with their applications, disregarding needed credentials or job fit. With candidates spending just 76 seconds to complete reading each job requirement, it’s no surprise that recruiters find that more than half of job applications do not satisfy the position’s fundamental requirements. Consequently, most hiring managers lack the time and resources to properly evaluate each student’s application, with recruiters allegedly devoting just 6.25 seconds on average reviewing each CV.

    pre-employment-tests

    Types of Pre-Employment Tests

    Pre-employment examinations come in a variety of shapes and sizes. We’ll go through five different sorts of assessments: aptitude, character, emotional maturity, risk, and skills exams.

     Aptitude Tests

    Rational thought, problem-solving, and the capacity to acquire, assimilate, and apply new knowledge are assessed via aptitude tests. In essence, cognitive aptitude tests are used to evaluate a candidate’s general intellect or mental capacity. As per one research, 70% of companies sought individuals with problem-solving abilities, while 63% sought analytical abilities. These skills are tough to judge merely based on resumes and interviews, where aptitude tests come in handy. Aptitude exams may be utilized in virtually every employment setting, although they are most effective in mid and senior-level positions. Aptitude tests the most important skills for workplace success in a wide range of professions, so it’s no wonder that it’s the most consistent predictor of job satisfaction.

    In contrast, research shows that mental aptitude tests are considerably more effective in predicting work success than other conventional hiring factors, with aptitude tests being twice as accurate as job interviews, three times as accurate as experience, and four times as accurate as educational level.

    Personality Tests

    Although personality tests are growing more popular among Hr managers, there are still some misunderstandings regarding what they are and how hiring managers could leverage them.

    Personality tests are designed to answer the following questions: Will the candidate be happy in this position? Is the candidate displaying the behavioral qualities that have been related to job success? There are no right or incorrect answers on questionnaires, unlike aptitude exams. Rather, these assessments assess the degree to which persons have behavioral characteristics that are generally stable across time. By assessing if a candidate’s behavioral patterns are a perfect fit for both the role and the business culture, these qualities can help employers anticipate job fit.

    Personality tests can assess various qualities, but the “Five Factors” or “Big Five Model” is the most often used personality test paradigm. Sociability, Conscientiousness, Assertiveness, Openness (to Knowledge), and Stress Tolerance are the five personality traits that regularly appear in empirical studies. The idea of personality “traits” is now broadly acknowledged. It has largely replaced Carl Jung’s earlier paradigm of character “types,” which was based on a theory of personality that classified people into each of two distinct types, such as loner or outsider, thinker or feeler, Form A or Type B. Growing evidence suggests that a tight dichotomy between two different kinds does not adequately represent the complexities of human personality; therefore the characteristics model is gaining traction in personality research.

    Emotional Intelligence Tests

    Emotionally intelligent tests are a relatively new evaluation area. Emotional maturity, or EI, is a relatively recent phenomenon that gained popularity in the 1990s. The idea of emotional maturity has become increasingly relevant in the workplace throughout time.

    According to research, transformational leadership has been linked to crucial job outcomes like specific biochemical, collaboration, motivation, and decision-making. Deep emotional IQ has also been linked to organizational development. As a result, employers are becoming more interested in evaluating EI throughout the recruiting process.

    Risk Tests

    Risk assessments fundamentally assist businesses in reducing risk. The risk may take many forms, and different evaluations are used to assess various risks. A hazard assessment’s major value is that it aids businesses in reducing the danger of employees engaging in risky or unproductive work practices.

    Skills Tests

    Skills exams assess job-related abilities, such as verbal, numeracy, interpersonal skills, and more specific abilities such as typing and programming knowledge. These are abilities that applicants have gained via their schooling and work experiences; they do not necessarily represent fundamental ability but rather accumulated knowledge, whatever the applicant currently knows how to accomplish based on prior experience.

    How to prepare?

    Relax

    Please remember that pre-employment testing results are simply one of many criteria that employers consider when determining whether or not you are qualified for the position. The impressive résumé you made is still important!

    Set the stage

    Many businesses need candidates to take the test before moving on to the interviewing process. Calculate how long it takes you to finish the exams if you are taking them remotely rather than at an employer’s office, and then restrict any distractions during that period.

    Read the instructions

    Skipping through directions is by far the most common error made by test takers. You may read and comprehend them in as much time as you like!

    Get Familiar with the Tests

    Personality, aptitude, and skills exams are the three major types of pre-employment exams. To feel more relaxed, familiarise yourself with the sort of test you’ll be taking.

    Conclusion

    In this climate, pre-employment exams may be quite beneficial to companies looking to hire the best people. Companies of all sizes may better manage the huge pool of candidates seeking available positions by incorporating pre-employment evaluations into the candidate selection procedure. While tech may be to blame for the rise in applications, it also offers a solution by making pre-employment testing easier to incorporate into the recruiting process.

  • 10 Ways to Set Up Video Interview Process in Right Way

    10 Ways to Set Up Video Interview Process in Right Way

    First and foremost, collaborate with your whole hiring team to create a written plan. Also, do a few practice interviews with the team to verify that everyone knows how to use the video and audio options, silence themselves, share their screen, and communicate throughout the interview. Go the extra mile and look into the problems other software users might have encountered to rehearse remedies for typical blunders. Request that applicants complete a survey questionnaire after each interview so that you may learn from them.

    Let’s learn how to set up a video interview in the right way.

    10 Ways to Set Up Video Interview Process in Right Way

    How to Set Up a Video Interview Properly?

    1. Keep your body language in mind.

    Just because you’re separated from the applicant by a screen doesn’t mean you can’t provide basic courtesy. Nonverbal communication accounts for 55 percent of the conversation, with the tone of voice accounting for another 38 percent; your words account for only 7%.

    In fact, in a conference call, the way you put yourself is critical. Make direct eye contact, sit upright, and nod to demonstrate that you are paying attention to what the person is saying. 

    2. Dress appropriately 

    Dress professionally, even if you’re not at the workplace. If you show up to the interview in sweatpants and a t-shirt, the applicant will assume the talk isn’t significant unless it’s standard workplace clothing for your company. Wear a shirt and tie if that is the most acceptable attire; you may change after the interview.

    Dressing professionally offers the prospect a sense of your company’s culture and makes a recorded interview feel more like an in-person interview. Of course, your clothes are generally only seen from the shoulders up, so a shirt, collared shirt, or beautiful sweater would suffice.

    3. Emphasize your organization’s image

    Candidates won’t experience your corporation culture model conceptualized during a conference call, so emphasize it throughout the conversation. Emphasize your company’s fundamental values and goals, tell tales about team excursions, and discuss how your workplace is organized and why.

    You can give a detailed description of what it was like to work for your firm. Above all, bring your company’s culture into the interview by demonstrating your fundamental principles and treating the applicant as a coworker.

    4. Examine previous interviews and take notes

    Analyze your notes from prior interactions with the candidate before the video interview so that the next one is as effective as possible. During each interview, take some notes on what the applicant says, how engaged they appear, and their overall manner. It’s critical to let the interviewee know that you’re taking notes for future references but that you’re still paying much attention to the talk. They have no way of knowing what you’re composing, and it may appear to them that you’re not paying much attention.

    Conference transcripts are generated by most systems, making it easy to capture the full dialogue and share it with other parties.

    5. Be thoughtful and caring

    Reduce background music and distractions to show your applicant the recognition they deserve. Yet, life occurs — especially at home — and interruptions are inevitable. Before you get started, take a minute to thank the applicant for their flexibility in changing the interview to a video call and requesting their tolerance if any issues arise. Also, don’t hold it against applicants if the same thing occurs to them.

    6. Ask the same questions every time

    Regardless of the interview style, you must ask all candidates the same set of questions. There’s no need to remake the wheel; keep asking the same questions during in-person and site meetings.

    You’ll be more prepared to assess and compare applicants based on the value of their replies if interruptions occur, which are frequent during video interviews. Additionally, utilize an interview score to keep your evaluations impartial.

    7. Take into account pre-recorded interviews.

    When scheduling video interviews is challenging due to time restrictions or a lack of resources, probably ask participants to fill a pre-recorded interview. Go to them for a restricted number of questions to answer and keep in mind each answer’s length. Adhere to a few more in-depth questions while asking them.

    Applicants will record their responses and upload the video clip of the interview. This may be done using email or a secure content-sharing site. Some sites even support this type of conference call. Make sure to provide the file size, type, and any time constraints. Prepare.

    8. Have a backup plan 

    Even if you check your recorded interview software several times, issues might arise. Have a failsafe in place if video or sound functions fail, internet connectivity becomes unreliable, or the environment becomes unsuitable for an interview. Whether you choose to do the interview over the phone or via FaceTime, make sure you have a backup plan.

    You can consult with the candidate to see what works best for them. They may need to resort to a phone conversation if internet connectivity is a problem. Nevertheless, if nothing works, you may need to postpone the interview or resort to a pre-recorded interview.

    9. Turn off your phone notifications

    When doing video interviews, give applicants your entire focus and turn off the rest of the population. Warning noises can be picked up and amplified by your phone’s built-in speakers, resulting in a highly annoying interruption. Furthermore, it is impolite and inconsiderate of your interviewee’s time. Remember that this is a moment to analyze a candidate’s suitability for the position and pitch your firm as a possible employer, so approach them with the care you deserve.

    10. Log on early

    Don’t let your applicant wait around, unsure if they’ve arrived at the correct time or attended the correct meeting. Arrive five minutes early for your video interview and turn off your camera while you wait. This simple discipline will guarantee that you arrive on time for the meeting, but you may work or tidy your workspace while waiting. Your applicants will appreciate your readiness and timeliness.

    Conclusion

    The interview method via video may be a refreshing change of pace, and it can open doors for a wide range of applicants. There are benefits and drawbacks to all interview techniques, so it’s critical to have your video interviews set up and running correctly to get the most out of the procedure.

  • 11 Things to Consider While Working in a Family Business

    11 Things to Consider While Working in a Family Business

    As per the Family Firm Institute, family firms account for 2/3rd of all businesses globally, making them critical for productivity expansion and employment creation.

    While family companies are a key economic engine, only 30% survive to the 2nd gen, only 12% survive to the third generation, and just 3% survive to the fourth.

    What is the key to running a successful family company? We’ve compiled a list of eight suggestions to help guarantee that your family business, or the one for which you work, survives the generations.

    What is considered a family business?

    Those engaged understand that the features of a family business differ from those of a larger corporation. Understanding who owns what and what actions should make such an individual vital for the firm and family to stay in peace. If the firm is still in the creator’s stage, it is simple for him to have authority over and select how the organizational assets will be distributed. However, if the second wave matures and expresses an interest in staying with the firm, all parties’ duties must be clearly defined.

    11 Things to Consider While Working in a Family Business

    11 Tips for a successful family business

    • Communicate

    Families have their communication style, which isn’t always the greatest, as many therapists will tell you. Break the mold and make open, frequent communication a priority in your family company. When you notice a communication problem, address it straight immediately.

    • Evolve

    When it concerns durability and the prosperity accompanying it, every business, especially intergenerational family companies, must change with the changes. A family-run company, the people who run it, irrespective of age, develop or avoid offending both customers and employees. Whether that’s abhorrence to new technology or opposition to changing social practices, a family-run business—and the people who run it—must evolve or end up alienating both customers and employees.

    • Set boundaries

    Setting limits is important to creating and maintaining success, as leaders of thriving family-owned companies know. Establish and maintain a clean line between family and business. To put it another way, keep family matters off the board and work in the workplace.

    • Practice good governance

    In the administration of family-owned enterprises, boundaries are also created. This type of monitoring, which top family companies use all over the globe, usually takes the form of a professional, advisory, or managerial board made up of non-family members with a small number of families.

    • Recruit from the outside

    It’s critical to recruit beyond your family for both personal and leadership roles, just as it’s critical to create governance with non-family individuals at the head. There are plenty of skills available. For talents and knowledge that family members lack, successful family businesses draw into this pool of talent.

    • Treat employees like family.

    Everyone is treated like family in a thriving family-owned firm, whether they are related or not. Customers are frequently subjected to this behavior. This “redefining family” strategy is used by recreational vehicle maker Jayco, which has been family-owned for more than 40 years. According to Jayco CEO Derald Bontrager, it pushes workers and leadership to “lift the bar as far as value is given,” according to Jayco CEO Derald Bontrager. Rather than depending on industry norms, “you should ask yourself, ‘Would you do something like this if that was one of my family members?’”

    • Make it optional

    A good family company does not use coercion or guilt to entice relatives to join the company. It allows employees to choose whether or not to work for the firm. Employees enthusiastic about the firm and their position within it are essential in every business, whether it is family-owned or not. Encouraging family members to come to work on their results in happier employees and a better bottom line.

    • Plan for the future

    Family companies that succeed don’t just let the cards fall wherever they may. They prepare for the future by developing family company succession plans well ahead of time. They also recognize potential in workers, both inside and beyond the family, and engage in them quickly to catch future leadership success.

    • Mutual respect

    A firm foundation of understanding and respect, like any strategic partnership, goes a long way. Acknowledge your parents’ past accomplishments and where they went before you joined them in business. Respect the wisdom and information they’ve gained through time. Parents, be proud of what your kids bring to the party, both in youthful enthusiasm and abilities, and unique qualities.

    • Know yourself and each other

    Personality traits and temperaments differ considerably. I propose that any children and parents who are starting a company together spend some time getting to know one another. The more you know about each other’s skills and shortcomings, as well as what makes them click, the more successfully and efficiently you can collaborate.

    • Recognize the stages

    When it comes to parents and children collaborating, there are several stages to go through. There will be an evident mentor/mentee relationship when the youngster initially joins the adult in business. After the parent has given their knowledge to the kid and the youngster has professionally grown into their own, this will eventually shift into an equal relationship. Finally, the parent may begin to slack down, leaving the kid to shoulder more of the burden and duty. Understand that these phases are normal, and learn to recognize which one you’re in and when you’re transitioning between them. Remember that all of these changes are made easier with a foundation of trust.

    What are the advantages and disadvantages of a family business?

    Advantages of a family-run business are:

    • Stability
    • Commitment
    • Flexibility
    • Long-term outlook
    • Decreased cost

    Disadvantages of a family run business are:

    • A lack of family interest
    • The conflict between family members
    • A lack of structure
    • Nepotism
    • Succession planning

    Conclusion

    Every family business will have its own set of benefits and disadvantages. However, to remain effective, company leaders must use these advantages and conquer these obstacles to prevent being one of the 70% of firms that fail after the first generation.

  • Is it right to go remote permanently? Advantages & Disadvantages

    The Covid-19 epidemic caused a significant change in the global work economy in 2020. While working from home used to be a benefit offered by certain organizations, it has become the standard for most. 70% of the workers will be remote working at least five days per month by 2025, according to estimates. While 2020 may be seen as the year of working remotely, we believe it is only the beginning since the trend is expected to continue in 2021.

    Let’s head on to the sections below to learn about the advantages and disadvantages of working remotely after the pandemic ends.

    What are the advantages of working remotely?

    Is it right to go remote permanently? Advantages & Disadvantages

    Here is a list of factors that work as advantages of working remotely:

    • Flexibility and agility: Working from home gives you greater flexibility and agility in your work schedule. Workers may be better positioned and more ready to work flexible work hours, such as sooner or later in the day, Or even on weekends if they are no longer bound to an office. The flexibility might assist you in meeting specific company demands, such as dealing with clients in a different time zone.
    • Improved employee retention: Employees may be more likely to stay at work if they have the option to work from home since it allows them to fulfill child care demands, minimize travel time, and integrate their work into their personal lives. Allowing workers to work from home builds trust in the company, leading to increased employee loyalty.
    • Attract new talent: Working from home may be provided as an incentive to continue working for you, assisting you in attracting fresh talent to your company. Allowing workers to work from home can let you have a competitive advantage over companies who don’tdon’t allow it.
    • Increased productivity: Because there are fewer interruptions than there would be in an office setting. Workers may also work more hours since they can use the savings made from traveling to begin work sooner, later or both.
    • Increased staff motivation: Workers will feel more respected by their company if they work from home. The professional relationship isn’t as tightly watched, and employees are given more latitude to get on with their tasks. Employees will also be happier if they can establish a home working schedule that suits them better, which will help them feel more driven to do their best job.
    • Better work/life balance: Working from home may help employees achieve a better work-life balance. For example, individuals who would have had to travel can now utilize that time for themselves, resulting in a better work-life balance. Staff may also incorporate home tasks into their workday, allowing them more free time in the evenings, such as loading and unloading the washer or cooking supper during their lunch break.

    What are the disadvantages of working remotely?

    Here is a list of factors which work as disadvantages of working remotely:

    • Doesn’t suit everyone: Working from home isn’tisn’t for everyone’s temperament or skill set. Some employees may enjoy the regularity and structure that comes with working in an office setting. Some employees prefer face-to-face connections with coworkers and believe that face-to-face coaching from their boss is highly useful in assisting them in completing duties and achieving their objectives. It would help if you also considered personnel with disabilities. Working remotely may have an adverse effect on the assistance they require to do their duties. Working remotely may not be suitable for everyone’s lifestyle. For example, some individuals may have small children who are oblivious to limits and cause disruptions during the workday. Some may not have the necessary physical space to set up a distinct workplace.
    • Staff feeling isolated: People who work from home may experience a separation from their coworkers and the company as a whole, which is natural in an office setting. Employers might solve this issue by ensuring that communications are more consistent. Staff is given additional opportunities to feel connected and part of the team by organizing brief catch-ups via phone or frequent staff meetings via other tools like Skype. More casual and social gatherings may also help to reduce feelings of loneliness.
    • Difficulty monitoring performance: It may be challenging to manage and oversee the performance of home employees. Monitoring may have a good or bad impact on distinct characteristics. You may consider creating measurable objectives and targets for your employees so that if they don’tdon’t meet them, you can spot and address any performance concerns early on. See how to effectively manage workers who work from home by looking at how to manage organizational effectiveness.
    • Home distractions: while working from home eliminates workplace distractions, if a person does not have a sufficiently quiet devoted working area at home, they may be easily distracted by domestic noises or other people in their home.
    • Potential burnout: Working from home, where an office offers a clear physical difference between work and family life, might cause employees to lose sight of the divide. Workers may find it challenging to decide when to leave work, resulting in longer hours, higher stress, and, eventually, burnout. Employers should urge their employees to take breaks regularly and remind them of the significance of doing so.
    • Cost of working from home: Initial training expenses include the provision of appropriate equipment, such as laptops, cell phones, and other IT tools. You’llYou’ll also need to think about making changes to fulfill health and safety regulations.

    Conclusion

    Working remotely was on the rise before the coronavirus epidemic, as many firms recognized the perks to their businesses and better work-life balance for their employees. Although if you don’t feel working remotely will benefit your firm, employees with six months of service have a legal right to seek flexible work schedules, such as working remotely, and you, as a supervisor, must seriously review such applications.

  • Boolean Search in Recruitment

    Today’s careers and jobs are highly competitive, and the job roles demand an extremely specific skill set from the candidates. To select the correct candidates for the correct job, especially candidates with a great quality of work and high caliber, is a feat in and of itself. Studies show that recruiters spend an average of 13 hours looking for candidates for one single job role. How can this task be simplified? By using the Boolean Search Algorithm!

    What is the Boolean Search Algorithm?

    Boolean search, in simple terms, provides a filter of sorts that narrows down the search results according to your specifications using tools called the ‘operators’ which will be discussed further in this article. This query methodology was invented by George Boole who was an English mathematician and has greatly influenced the evolution and optimization of search engines such as Google.

    Boolean Search allows a recruiter to effectively identify candidates best fit for a certain job role. It functions as an advanced search wherein you can include or exclude specific words and tags using the boolean operators to select candidates fit for a unique work position. Using the operators creates a ‘complex search string’ through which the recruiter/ employer can pick the ideal candidate over a range of relevant ones. This streamlines and optimizes the recruitment process.

    Basic Boolean Search Operators that every Recruiter should know about

    To create the aforementioned complex search strings, 6 basic operators come in extremely handy. They can be used multiple times in a search query and have to be written in the upper case. This separates the operator from other keywords in your query string. 

    Operator 1: AND

    AND is an operator that is used when you want to include multiple criteria all of which need to be fulfilled by the candidate for whom you are looking. For example, if as a recruiter you are looking to recruit a graphic designer, you could use the AND operator to search for ‘graphic AND designer’ which would imply that your vacant job role is for someone who is proficient in graphic editing and is a trained designer. 

    Operator 2: OR

    OR operator is also used when you want to include multiple criteria in your search query but you only need one of the criteria to be satisfied in your ideal candidate. For example, if you wish to recruit somebody for handling equipment in your clinic you would either look for a clinical technician or a biomedical engineer using the OR operator- ‘clinical technician OR biomedical engineer’. This will show you a list of candidates who are only clinical technicians, or only biomedical engineers, or are qualified for both posts. 

    Operator 3: NOT

    The NOT operator is used to exclude results that include unwanted criteria that you look for in a candidate. This operator helps you filter your results to a great extent, and is perhaps has the most common and frequent applications from among all the boolean operators. One of the best examples to illustrate the use of the NOT operator is to filter new candidates looking for open positions in organizations from existing job seekers wishing to change their current job roles by applying to these vacant positions. Here’s how the not operator is used in such cases- a (-) sign  is used before the keyword without any space when searching on Google or LinkedIn; 

    NOT jobs= -job

    NOT HIRING= -hiring 

    Operator 4: Brackets/Paranthesis

    Much like mathematics, the bracket/ parentheses operator is used to provide an order of importance to your keywords in your search string. They help in grouping and prioritizing the criteria using which you are looking to recruit candidates into your organization. This operator mainly comes into play when you use other operators in your search query. 

    For example, if you search for something like- ‘computer AND engineer OR developer NOT hiring’ this sends your search engine into a tizzy of confusion as it does not have clear instructions as to what results should be signified before others. This could lead to unsatisfactory scouting of recruits. 

    So if you add a bracket around one of the operator queries, like ‘computer AND (engineer OR developer) -hiring’ the search engine algorithm will look for candidates who are either engineers or developers, both of whom are proficient in computer sciences. 

    Operator 5: Quotes/ Quotations

    The quotes or the quotations operator is only used when you want an exact phrase or word or criteria included in your search results verbatim. This operator is very prevalent among other general searches, like looking for a specific interview on the internet but you only remember a snippet of it or a song to which you only remember one or two lines of the lyric.

    In recruitment specifically, this operator is used to scout candidates for a niche job role. However, recruiters are advised to use this operator for scouting only when they know exactly what to search for, or else it is an open invitation to unwanted search entries which will take more time to filter down. For example, if you are looking only for a software engineer, not a developer, this is how your search string would look: ‘“software engineer”-developer’. This would show you candidates who are only specifically software engineers without any developing background. 

    Operator 6: Asterisk

    The asterisk operator is used to look for the different variations of a root word. For example, ‘develop*’ would show you search results including developer, development, developed developing, etc. 

    In the field of recruitment, if you are looking for somebody to occupy a managerial position, enter ‘manag*’ into the search engine for which the results will show candidates who have listed words like manager, manage, managed, management and managing. The tricky part with this operator is to know the root word. If you enter ‘manage*’ in your search engine, results including managing will not be shown.

    Advantages of the Boolean Search algorithm

    1. It speeds up the recruitment process to a great extent as the recruiters don’t have to sort through applications manually.
    2. The algorithm is cost-effective. It is virtually free and can be accessed or applied from anywhere on the planet.
    3. This algorithm gives the recruiters a great amount of control over the applications and can customize their search to fulfill the job role in the vacancy. 
    4. Through the Boolean search algorithm, recruiters don’t need to wait for viable candidates to come and apply for the job. Here the employers themselves can reach out to the ideal candidates for the work position in mind. 
    5. It helps the recruitment team narrow down and streamline the applications of ideal candidates without having to go through tedious paperwork and interviews. 

    The Boolean search algorithm is a technological revolution. It has numerous applications, one of them being a tremendous aiding tool in the recruitment industry. It saves time and improves the quality of the candidates that you wish to induct into your organization. 

  • Top Soft Skills that Employers Value with Examples

    Today’s world is extremely competitive and cut-throat. Each individual that applies for a particular post or a job has many technical qualifications that would make them just right for the position. And yet the process of getting green-lit for the post is highly selective and particular. What does the employer see beyond technical skills that can increase your chances of getting a job? What can set your resume apart from the many others that apply for the same post? Soft skills. 

    What are Soft Skills?

    Soft skills are based on your personality, attitude, and behavior when it comes to a professional setting. These are traits that can’t be taught but have to be developed by oneself in the face of different situations. These skills adapt and evolve and help you integrate yourself into the fabric of your workplace. They stand as a mark of your professionalism and your ability to handle any situation maturely. 

    Why are soft skills important?

    Soft skills are an extremely important part of your resume as they depict your personality traits to the employer. Any company will look for an employee who can successfully communicate with colleagues and workplace superiors and has a positive outlook towards their work and their future at the said company before selecting a candidate for the particular job. In many job listings, you would find traits such as ‘hardworking’ or ‘good leadership qualities and management’ or ‘excellent communication skills’ as a primary requirement for the job role, sometimes putting more priority on soft skills rather than technical skills. 

    Soft skills are not specific to any job role and can be transferred across industries. You may be a medical assistant, or a civil engineer, or a hotel management intern, you would still require a certain set of soft skills to get you over the line. 

    Another very important advantage of having soft skills is that you may be able to apply to a job whose title may not seem like your cup of tea but the description might match your skillset. To ensure this, you might want to update your resume with the relevant soft skills for that post. 

    Another way that soft skills can ensure your selection for a job, is to integrate them with your interview answers. For example, when the employer is asking you something like “Tell me more about yourself”, you could talk about your soft skills and how they reflect your personality like being adaptable, hardworking and having problem-solving abilities. This will subtly hint to your employer that you are good at communication and can highlight and access your strengths when required.

    Difference between soft skills and hard skills

    Soft SkillsHard Skills 
    Soft Skills speak about your emotional intelligence and personality and behavioral traits that impact your professional persona.Hard skills refer to the technical knowledge and finesse that you hold concerning the post that you have applied for in an organization.
    Soft skills are acquired naturally by analyzing the various situations that one faces in their life and are a measure of how well one can integrate those traits with a professional setting. Hard skills are learned through years of dedicated education and other hands-on training methods.
    Soft skills are not industry-specific, a range of professions across various fields can require the same set of soft skills. Hard skills are extremely industry-specific. If you wish to pursue a certain post in an organization you need to have a highly specialized hard skillset that is closely analyzed by the selection panel before giving you the job. 

    Highly sought after soft skills:

    • Communication

    Communication ranks as one of the most important soft skills of all time. No matter the kind of job you do or have applied for, communication is a means to convey your ideas, thoughts, and notions to your colleagues, superiors, or even your clients and vendors! 

    Starting from your interview process to the later stages of your career, communication plays a very vital role in your personal and professional growth. It involves standing your own ground during ideation while cleverly integrating your ideas with the ones pitched by your colleagues or teammates. The most essential need of good communication is to pitch a conducive idea without disrespecting or disregarding the view of others as to not create conflict in a professional setting.

    Communication soft skills include:

    1. Active listening 
    2. Confidence
    3. Problem-solving 
    4. Organizational skills 
    • Problem-solving and critical thinking

    Be it any job, employers always want employees who are quick on their feet with ideation and implementation. Critical skills are used by a person in the need of the hour to come up with creative and sustainable solutions to an organizational problem. This ability might include giving a spur-of-the-moment solution or a short-term solution to a problem or involve intensive research for the longevity of the solution to the said problem. Both these scenarios require the brain to work in unique and creative ways to best solve any problem at any given moment and is a skill highly appreciated in competitive, cutthroat corporate settings. 

    This soft skill includes:

    1. Creativity
    2. Research
    3. Risk analysis and management 
    4. Teamwork and intensive ideation 
    • Adaptability and positive attitude

    In your career ladder, there are always going to be obstacles. It may be professional competition, your relationship with your colleagues and superiors, or even work-personal life balance. And as you grow, your workload and responsibilities are only going to increase. During these testing times, the one thing that is highly appreciated is a positive outlook towards the work that you are doing. Such an attitude will inspire and motivate others around you to put their best foot forward, producing the optimum results. 

    One other soft skill that is highly sought after is adaptability. Your professional life might throw you into situations that you may or may not have prepared for or might pose a problem that you may not know how to solve. In those cases, your ability to change your work format, mold it to the given situation, and rising to fulfill the needs of the organization is called adaptability. It shows the amount of professionalism you have and your company’s reliance on you during times of crisis. 

    • Leadership and teamwork

    One of the main qualities that an employer looks for in a suitable candidate is the commitment they have to rise the ranks of the organization and their leadership and managerial abilities. Such a thought process motivates the candidate to work as hard as they can and produce the best possible results for the company. 

    Leadership is your ability to work with a team of people with different strengths and weaknesses and perspectives and mold these differences into one single functioning unit. As a leader and a team member, you need to make sure that you take important decisions in the heat of the moment and that those decisions be in the best interest of the team and the company. You must also ensure that you get along with every member of your team and that they get along with each other without any friction or personal bias that may affect their work. 

    • Work ethic

    Work ethic is an all-encompassing soft skill. Basically, your attitude towards work as an employee is what your work ethic means. It includes your punctuality, your dedication to complete the assigned work promptly and with the best quality and results, your attitude towards your work and your co-workers as well as your professionalism during work. It is extremely important to have a healthy work ethic for professional growth in your future. 

    Hard skills may help you grow and rise ranks in your career but soft skills define the process of growth and your personality as a professional. A healthy balance of both these skillsets is the key to a good resume and in turn better opportunities and a good career. So what are you waiting for? Go update your soft skills now!

  • What is Employer Branding?

    The employer-employee dynamic has evolved and progressed over the year and has come a long way. Once upon a time, the employer used to be an intimidating power who could make or break your career with strict profile evaluation and background checks. But today, employers can be easily researched by potential candidates using the power of the internet. This does not mean that the value of the employer has diminished, this just means that the candidates can now level the previously existing status quo. The employers however need to take measures to attract the best of the best for their company and to do that, they need to build their brand! An employer brand strategy could get you the best quality of candidate pool for your organization which would go a long way in creating the overall company brand as genuine and uncompromising. So let’s get started!

    What is employer branding? 

    Branding stands as the mark of market value, customer service, and products or services that a corporate organization offers. We have many a time used the phrase, “It may be costly but at least it is ‘branded’.”  This is the reliability and trust of a consumer on a product from a well-known brand about its longevity and usefulness.

    So, much like corporate branding, employer branding is something along the same lines. When building your brand as an employer, you essentially influence the minds of job seekers, potential candidates, existing employees, higher management, and stakeholders of the company about your ingenuity as an employer. In simpler terms, it is what the above-mentioned group of people think about you as a professional. It is your personality and the image you have created as an employer that people talk about with their friends and family in your absence. 

    Now employer brand cannot be controlled or owned because it is not something you have with you despite it being your brand! You can influence the way that the brand progresses but can’t own it because it exists in the thoughts and perceptions of everybody you interact with as an employer. These people have an opinion about you which you may or may not agree with but it is their own. 

    What is the importance of employer branding?

    As mentioned above, employer branding is extremely important to your image as a professional employer and in the long run, reflects on the brand of the company you work for. The concept of employer branding has been around for quite a few decades but it didn’t become quite prevalent until the first online jobs were launched into the market. Almost abruptly, a huge number of candidates had access to millions of job opportunities from across different countries. This reduced the pressure on the employees to stick to one job for financial stability. With the advent of the world wide web and the revolutionary internet, employees, job seekers, and potential candidates could research their employers and form a perception of the kind of person you are with the work you have done! But the story doesn’t end with the image of the employer. This image goes on to attract and keep the good quality candidates within the company, attracts and keeps hence improving the quality of work.

    1. A huge number of candidates look at your reputation as well as the company’s brand image while considering career opportunities and growth in your organization. 
    2. Several job seekers look up your culture and values while looking for a job, mostly to see how you handle diversity as an employer.
    3. A large number of candidates have no problem turning down a job offer from a branded company with bad employer branding. This way, the company is losing on potential quality candidates. 
    4. Statistics show that companies with poor employer brands must increase their wages to attract job seekers and candidates, which could be financially devastating for the company in a long run. 
    5. Studies also show that a company with good employer branding is more likely to retain talented employees without a pay raise than companies with a bad employer brand. 
    6. Additional survey sources show that a majority of the young adult population would forgo a well-paying job position in exchange to work with a company that has good employer branding, mainly for gaining experience and professional growth.
    7. Less than 50% of a workforce of a company with weak employer branding would recommend the company to friends and family, which could be damaging, as employee referrals are one of the greatest sources of job applications. 

    All in all, your employer brand could make or break the employer-employee relationship that defines the quality of work at every organization.

    What is the process of building an employer brand?

    1. Familiarize yourself with the company. Understand its USP (unique selling point), its values and ideals that it stands for, and how to integrate yourself as an employer in its fabric. An employer must keep in mind that their brand must be a reflection of the company’s brand for the coherent growth of the organization as a whole. 
    2. Research your employer brand and analyze where it is lacking. You may be well-versed with your company’s current standing in the market or how well your products and services are doing. To round it all up, conduct surveys and audits with your existing employees to understand their perception of the brand and fill the gaps wherever necessary. 
    3. Engage your current employees and make them feel comfortable. As an employer, you must be a figure that they can trust and confide in, rather than a person of intimidating and unapproachable power. Celebrate their successes with them and lift them in a downfall. Encourage them to update their professional skills and update their profile. Incentivize the tasks that you give to them to motivate them to put their best foot forward!
    4. Ask your employees to write honest reviews on social media pages or job listing sites about the company and share any open positions or vacancies among their circle. This will improve the authenticity of the organization in the eyes of the common public. If your employees are happy, there is bound to be an inflow of applications of candidates who are genuinely looking forward to working with you and your company. 
    5. While onboarding an employee, make sure that they are comfortable with the induction process and the team that they are allotted. Studies show that the first 90 days of any new job is critical to retain the employee for a long-term run in the company. You could arm the recruit with instructions and tools that would help them start and settle in their new role smoothly.
    6. As senior personnel in the organization, your employees would look up to you for guidance. In such cases, you could offer them seminars and training sessions to help hone their skills. You could also offer professional certifications as a company package which would propel their profiles to a great extent and help them explore several avenues professionally. This would also renew the interest of your employee coming to work every day!
    7. Finally, while listing out job vacancies, make the job description interesting and catchy. This would pique the interest of potential candidates and would look up the company brand eagerly. 

    How to improve an existing employer brand?

    1. Market your brand value and the work culture and ethic instead of the money you would pay to potential candidates. While many of the applicants would be money-driven, good quality and potential candidates would mostly be the ones looking for work experience and professional growth as opposed to the compensation package they would be offered by a company. 
    2. Use social media to market your brand strategy and start a company blog. These platforms are ideal to voice your views and opinions and make the managerial panel more approachable and relatable. These platforms can also highlight policies and ideals which are unique to your company and can conduct programs to show to the public that you as an employer are insistent on employee well-being. 
    3. Show off your workspace using high-quality videos and pictures. You could record a video from the CEO or the director to welcome new employees, or conduct staff interviews to show the public a normal workday at the company. Allocate a separate budget for this program while planning your finances. 
    4. Last but not the least, keep your workforce diverse. Include every ethnicity, color, and, gender without any bias. Encourage ideas from each one of your employees equally. This not only promotes a healthy work environment but at the same time, shows that your company can push boundaries and build on them productively. 

    Employee branding is a slow process, but if done correctly, the results are staggering. It isn’t easy, and rushing the process would get you nowhere. Once each of these steps and strategies is employed meticulously, the employer brand grows into something more organic and self-evolving! Good luck!

  • Why is hiring top talent important?

    Talent Acquisition is vital for every business, as human capital accrues various benefits to the company, and the finest talent generates immense value to the organization. The current job market is competitive and dynamic. To ensure profitability, the right personnel are recruited through various methods, which are given in this article. 

    The importance of the top talent for companies can be explained by looking at their developmental strategies. If you want to grow your business and scale heights, then the most prominent factor is the value of assets in the business, and reputation is paramount of all assets. Finest talents work with the top and prestigious companies. In this article, you will get to know how you can gain a reputation in your field and attract and retain the best talent. 

    Why is hiring the best talent important?

    Employees are believed to be assets for any company. They are specialized in the work they do. Hence assigning the right role to the right person is the chief purpose of Talent Acquisition. Recruiting the potential personnel and utilizing their skills efficiently is important to get the work done timely and with the least wastage of resources. Hiring top talent is vital because they are specialized to perform their duties effectively and efficiently, which means they respect deadlines and complete the work by utilizing resources to their full potential and avoiding wastage. 

    Talent drives business value so that it is able to stand in a competitive job market. A business should always welcome fresh talent and innovative ideas, which enhances its profitability. Talented employees are always determined to fulfill their duties and responsibilities within the deadline and simultaneously planning for future projects. Ideal candidates work for the organizational goals, leaving aside their own interests. Therefore, hiring the best-talented people is necessary for every organization.

    What are the best recruiting strategies to attract talented people to your company?

    High-rated recruiting strategies to draw the attention of top talent towards your business are:  

    1. Employer Branding

    An ideal candidate is needed for long-term job positions. A strong employer branding strategy is needed for attracting the attention of prospective candidates, as no one will be interested in a job where the employer branding is low.

    2. Campus Recruitment

    Businesses should go for campus recruitment as it brings competitive personnel with fresh talent. Recent graduates are full of enthusiasm, and they know about the dynamics of the competitive job market. Companies must tie up with colleges and universities and organize events that enable the aspirants to work in a professional environment to attract new and talented candidates. 

    3. Perks and Benefits

    Employees should be provided with perks such as bonuses, paid leaves, family vacations, and benefits like employee recognition and appreciation programs. The salary should be such that it satisfies both the employer and the employees. 

    4. Broader Job Vacancy

    The job description should mention everything related to the job position. There should be transparency while designing job descriptions. But not every minute detail should be part of a job vacancy post. To attract talent, there should be a broader job vacancy with a good amount of information.

    5. Recruiting through Social Media

    Social media has become the most common and suitable platform to promote the business and search for prospective candidates. It is a great way to attract talent, if done in an innovative way, also easy and inexpensive. Social media platforms like Facebook, Instagram, Twitter etc. have become means to acquire talented people for your business. 

    6. Shorter Selection Process

    It is significant to remember that the selection procedure should not be delayed, as the competitors might attract the finest aspirants towards themselves, and you might lose the creamy layer to them. Always ping the candidates that you wish to select for the job role soon after screening their application. If you delay the process, the candidates might lose interest in your company.

    How can I retain top talent in my business?

    Talent Retention is also a major factor that determines the smooth functioning of the business. Talent Acquisition alone is not enough, as when the finest aspirants don’t get ample opportunities for career growth, they tend to leave the company. Hence, Talent Retention is pivotal to the success of every business.

    Companies can organize competitions, field trips, training and development of employees, promotions, perks and benefits, transparency, excellent teamwork, flexible schedules and motivating them to recognize their worth. Making the employees part of big projects that also gives them sufficient career advancement opportunities is also a method of Talent Retention.

    What type of jobs requires greater talent?

    All jobs, whether skilled or unskilled, require specialization. Even unskilled jobs require some degree of accuracy and efficiency to ensure greater productivity. Educated and skilled personnel is of utmost importance in the company, especially in the fields of Human resources, Marketing, Finance and Operations.

    What is meant by Talent Management?

    Talent Management comprises the full cycle that involves identifying potential candidates, onboarding, motivating, training and retaining talented candidates. This process helps in enhancing business activities and increasing productivity. There are seven components of Talent Management:

    1. Strategic Employee Planning– It refers to the process of deciding the role and responsibilities of the personnel. Every organization has certain goals to achieve, which is possible with the right planning, assigning the roles to the employees, and determining the personnel that you will require to fill the gaps.

    2. Talent Acquisition and Retention– This is the process of attracting top talent to your business, recruiting them and retaining them by giving them ample opportunities to enhance their career and providing them a better job climate.

    3. Performance Management– The basic theory of assigning the right job to the right person is nothing but Performance Management. It is necessary because every person is specialized in some of the other fields. If someone from the finance department is allotted the responsibility of marketing, then the business will not be able to achieve its goals on time. 

    4. Learning and motivating– Learning is the acquisition of skills and interests, acquiring knowledge and efficiently managing the task assigned. The motivation of employees is equally important as, without motivation, they will not apply what they have learned, and it will become difficult to achieve organizational goals. When they realize how important is their contribution to the company, they will know their worth and be motivated to contribute more.

    5. Compensation– Acknowledging employees and rewarding them, in cash or kind, and giving them extra perks and benefits, such as family vacations, paid leaves, employee appreciation programs, time flexibility and so on, will recognize the value and efforts of the employees.

    6. Career Development– This is related to the training and development of the employees and has its roots in Talent Retention. This is done to ensure that future leaders have the necessary tools for professional advancement. 

    7. Succession Planning– Succession Planning relates to the process of deciding in advance about the key roles and the gaps that will appear in the future. This process ensures that the organization will function smoothly if there is a plan that will aim to fill the key position.

     Conclusion

    Identification, acquisition and retention of talent is the secret of the success of every business. Hiring the top talent is important as these employees work for the organization effectively and efficiently. To attract the attention of prospective candidates, there are modifications required in the strategies of the recruitment process. Talent Retention is equally important as Talent Acquisition. Almost every job requires people who are specialized in their work. Hence, the process of Talent Management is followed to achieve the goals of the business.

    Questions

    1. How can I catch the attention of talented people in my business?

    To attract talented and skilled people to your business, you need to modify your recruitment strategies. Some points to remember are: Have a strong employer branding strategy, broader job vacancy, shorter selection process, campus recruitment, social media recruitment and perks for the employees. 

    2. What is Talent Management and its components?

    Talent Management is the cycle of attracting talented candidates and utilizing their skills for achieving organizational goals. Its components are Strategic employee planning, talent acquisition and retention, performance management, learning and motivating, compensation, career development and succession planning.

  • What can you do if you don’t want to work anymore? Why are you losing motivation?

    Are you feeling low lately? Are you tired of working in the same old position? Are you looking for some motivation? Well, read on to discover what you can do if you don’t want to work anymore.

    Below are some key points you can follow when you feel like you don’t want to work anymore.

    1. Change your mind

    It’s sometimes just a question of faking it until you make it. You have the ability to alter the way your brain functions. You may improve your attitude just by attempting to do so. Begin by considering your job as more than simply a source of misery. This is still your work and you must perform it until your two weeks notice is received. Restart your thought process. Find a part of your job that you enjoy. If you can’t, start planning your next career move.

    2. Reward yourself

    Allow yourselves an iced coffee with a coworker once you’ve completed that one assignment you’re dreading. Encourage yourself to take a special day and do something pleasurable if you complete a large assignment. Keep your email clean for a week and treat yourself to supper!

    3. Think about the future

    It might just be a stumbling block or a dull period. Consider speaking with your supervisor about moving forward, maybe by taking on a more exciting job or transferring to a different area. Now is the time to start planning the meetings that will help you achieve your goals. If you’re certain, it’s not simply a phase. Start thinking about what you’ll have to do to get yourself into the position you desire.

    How to start encouraging yourself to work again?

    Start thinking about your future actions after you’re certain it’s the job but not you. The worst idea you can do is depend on a job you despise merely to remain afloat or because you’ve given in to lethargy. Find a career that allows you to live a life that you truly like. Here are some things to consider.

    1. Rethink your relationship to money

    Money isn’t just a piece of paper. It’s a matter of time, freedom, and potential. It’s a family affair. It’s time to go. Decide if money or time is much more essential to you. You’ll never be able to escape the hamster wheel if money is your first concern. If time is an issue, it’s time to start prioritising the important things. Why not save that extra cappuccino or luxury purse for a loan or a family vacation instead? Material items may trap you in a cycle of need and need that no amount of effort will ever be able to break you free from. Also, keep in mind that the less you earn, the lower your tax bill will be!

    2. Cut corners

    By dining at home, you may save money and eat healthier. Consider your automobile not as a prestige symbol, but as a means of getting from point A to point B securely. Consider having a picnic instead of going to the movies if the weather is pleasant. Instead of buying concert tickets, have a movie night at home. Instead of paying for a gym membership, try running. Consider each cost as a piece of your life that you will have to give up. Spend time with care.

    3. Choose work you care about 

    This is the most crucial point. Believe in what you’re doing and take responsibility for it. Find a method to combine your personal passions into your working life. Don’t worry if you haven’t arrived yet. Let’s get this party started. Begin the effort that will be required to get there.

    Why are you losing motivation?

    1. Too Busy

    Being busy is generally viewed as a status symbol in today’s workplace; it indicates that you’re in great demand and trusted with a large number of responsibilities. While this affirmation is beneficial for your self-esteem, devoting your whole waking day in “job mode” might leave you exhausted and unmotivated.

    Many individuals believe that working to their full capacity entails working longer hours and taking on more tasks than is required. While this might provide immediate benefits, it can also be quite exhausting.

    2. Hard Time Getting Started

    Trying to get started on a task when you have no idea where to begin is a huge demotivator. We’ve all noticed that the toughest thing of starting a major assignment or a difficult job is getting started, but once you get into the groove of things, the whole thing may seem a lot less scary.

    3. Separating Work From Your Personal Life

    Leaving your work at the workplace was the norm before cell phones took over our lives, and carrying work home with you needed extra effort and forethought. We are still mentally and physically linked nowadays since we have accessibility to our email account on our wallets.

    When we’re not in the workplace, it can be tough to disconnect from work, particularly if we’re working on a major project or have a load on our schedule.

    4. Emotionally Exhausted

    If you cognitively check out at the office and can’t recall a single thing when you get home, you’re definitely emotionally detached from your job.

    5. Your Personal Time

    After such a long day of being busy , it might seem tempting to fully shut down your mind and take to Youtube for the rest of your day. While being a total couch potato during your off-hours might be pleasant, it may also sap your drive to return to work the very next day.

    6. Mentally and Physically Exhausted

    When we’re completely exhausted, it’s difficult to work to our best capacity. Occasionally we just need to get a vacation after working for several days straight, particularly if we’ve been engaged on a particularly difficult assignment.

    Conclusion

    If you don’t want to work, you might be tired of working all day. Or you must have gotten bored of the job role. A good night’s sleep and a nutritious breakfast will help you stay motivated. Try going to bed an hour prior, giving yourself extra time to prepare a healthy lunch, and getting exercise throughout the day. Try utilising a time management system, such as the Pomodoro technique, which schedules short and lengthy breaks across the day.

    Best wishes!

  • Startups & How to Pitch the Investor for Funding?

    Startups are small businesses that were formed with the goal of creating a one-of-a-kind product or service, bringing it to market, and making it appealing to customers.

    Startups are built on innovation, fixing flaws in existing products or inventing completely new categories of goods and services, causing entire sectors to change their methods of thinking and conducting business. Startups in Big Tech, such as Apple, Google, Facebook, Netflix, and Microsoft (together known as FAANG stocks), are well-known, but firms like WeWork, Peloton, and Beyond Meat are also considered startups.

    If you want to start a new business, this guide is the holy grail for you.

    How Does a Startup Work?

    A group of employees works together to create a product that customers will want to purchase. Regular businesses just repeat what has already been done. A potential restaurant manager can license an existing business. Such that, they operate according to a pre-existing template for how a business should function. A firm, on the other side, tries to create an entirely new template.

    How Are Startups Funded?

    • Bootstrapping is a preliminary round in which the founders, their colleagues, and family invest in the company.
    • After then, “angel investors,” or high-net-worth people who invest in early-stage firms, provide seed capital.
    • Then there are the Series A, B, C, and D fundraising rounds, which are primarily headed by venture capitalists and involve investments of tens to hundreds of millions of dollars.
    • Finally, a business may elect to go public and raise money from investors through an initial public offering (IPO), a specific purpose acquisitions company (SPAC), or a direct registration on a stock market.

    Types of Startup Funding 

    • Small business loans

    When it comes to financing options, small company loans are the bread and butter. Small company loans are similar to personal loans in that you’ll be authorized for a certain amount of money with a specific interest rate.

    Banks and financial institutions, some of which may be located through the Small Company Administration, can help you acquire a small business loan (SBA). Remember that, just like a home loan, you’ll need good business credit. This will enable you to obtain a larger loan with a cheaper interest rate, lowering the total cost of the loan.

    • Funding rounds

    Many businesses may go through many financing rounds or periods in which they seek various forms of investment. Series A, Series B, and Series C investment rounds are divided into three categories, each matching the company’s stage. Money is often swapped for business shares in every financing round, implying that investors expect a payback.

    Funding rounds may be required to get your business off the ground, engage in critical marketing, or assist in getting your product to market.

    • Venture capitalists

    A venture capitalist (VC) is a sort of private investor who invests in potential new businesses. Members of a bigger venture capital company frequently venture capitalists. These corporations frequently have boards that deliberate on certain companies to support.

    If the venture capital firm chooses your startup, a VC will contact you with a financial offer. Usually, venture capitalists purchase stock in a firm with the expectation of receiving payment in some way if and when the company succeeds. However, if your company fails, the VC has made a poor investment and will get nothing in exchange.

    You could be a suitable candidate for venture financing if your business is past the idea stage and has a minimal viable product. Venture capitalists are businessmen who don’t take needless risks. Startups need to be prepared to offer their service or product to the public but lack the cash to do so in order to attract venture capital investment.

    • Angel investors

    Angel investors are wealthy individuals who invest in startups and budding entrepreneurs. Angel investors, unlike venture capitalists, usually work alone and are not part of a board or business.

    Angel investors, like VCs, anticipate a return on investment because they’ve bought some kind of stock or ownership in your firm.

    Angel investors, like VCs, might be left high and dry if they make a terrible investment. As a result, they are a safer alternative to typical company loans. But keep in mind that you’re selling stock in return for cash. Since a result, you may no longer have total control over your company, as you will be required to meet the needs of your investor.

    If you’d like to engage angel investors, make sure your company is well-organized and that you have a strategy in place. Angel investors are generally regarded as part of the initial round of investment, which means they offer cash to startups. As a result, angel investors are an excellent fit for startup companies with only a concept.

    Angel investors, like geniuses, are difficult to come by and aren’t necessarily as well-organized as a venture capital company. Angel investors might be relatives or friends. As a result, they’re a bit of a wild card. Someone you know who has money may be a prospective angel investor.

    • Crowdfunding

    Crowdfunding is the way ahead for many people with a company concept but little or no capital. Crowdfunding is a kind of fundraising in which private supporters (individual investors) buy your goods or services before it is released to the general public. This allows entrepreneurs with a good concept to raise funds for their venture in exchange for offering a product or service to its backers.

    Crowdsourcing may be done in a variety of ways, including hosting local or online events, although it’s increasingly popular to use crowdfunding sites like Kickstarter or Indiegogo. Users may quickly browse hundreds of ideas on these sites and back the ideas they’re enthusiastic about.

    You could be a good candidate for crowdfunding if you offer a consumer-oriented good or service. You’ll need a strategy for using any money, as well as a thorough map of the funds needed and how they’ll be spent. To offer openness to your investors, several sites, like Kickstarter, require you to put out your financial targets or stretch goals.

    • Equity crowdfunding

    Equity crowdfunding is similar to crowdsourcing in that it involves raising money from a large number of individuals. You are not selling your goods or service, with the exception of traditional crowdfunding. Equity crowdfunding entails the sale of stock in your firm. This entails selling a variety of holdings in your firm, such as stocks, revenue shares, and so on.

    Suitable for: Equity crowdfunding is better suited to enterprises in the early stages since it entails selling equity rather than a marketable product or service. Stock crowdfunding may be a wonderful method to get your firm off the ground if you’re confident in selling stock and have a good business plan.

    • Incubators

    A business incubator, sometimes known as an accelerator program, is a group committed to assisting new firms in getting off the ground. Incubators are typically created and sponsored by other businesses that wish to assist new businesses to achieve their full potential. Incubators frequently provide workspace for businesses, as well as money and coaching.

    There are a variety of incubator groups to choose from, so if you’re interested, do some more research to find local and worldwide possibilities.

    An incubator may help almost every early-stage company or entrepreneur. Those with a strong company concept and the team will gain the most, but even companies that are just getting off the ground might tremendously benefit from the appropriate incubator.

    How do you pitch a startup?

    Your startup pitch is crucial to your success, and understanding how to pitch a business is crucial. If you can’t find buyers for your company, no matter how inventive, well-thought-out, or possibly profitable your product concept is, your company will have a tough time scaling up and attaining widespread success. Raising financing, of course, offers a particular set of problems that many entrepreneurs face. Your potential investors won’t just take your word for it that your firm will succeed; you’ll have to show them that financing in your startup will give them a decent return on investment. Obtaining funding demands putting together a great, engaging proposal that persuades investors to support your firm.

    1. Keep your startup pitch short and sweet

    When pitching your business, the most crucial thing to keep in mind is that investors are bombarded with investment offers. Startup activity has continued to rise above pre-recession values, giving investors a wide range of options for where to put their money. That implies you must explain your company idea and strategy to provide investors with a return on investment in a clear and concise manner.

    Begin with a quick description of your business concept that expresses your vision and purpose right away. Describe the problem that your startup is seeking to address and why your company is the best candidate to solve it. Outline how your company intends to make money. Above all, don’t get mired down in little details that detract from your main point.

    2. Maintain control over the timing of your startup pitch

    It’s essential to make the most of the time you have to present your company pitch. Nothing irritates investors more than a protracted pitch; on the other hand, you don’t want to spend the precious time you have by being too short. That either you or your potential investor sets the time limit for your pitch, stick to it and time your speech so that you don’t have to rush to the conclusion.

    Additionally,

    • Manage your rhythm during the pitch to avoid running over or, worse, floundering and running out of things to say in the first few minutes.
    • Remember that slides are only a tool for you to utilize, not a crutch. To put it another way, never directly determined from a slide but never spend longer than 3 minutes on a single presentation.
    • Keep a steady pace and avoid hurrying. You want to keep your audience engaged without overloading them with information or giving them too much time to reflect on anything else other than your delivery. It’s an indication that you’re moving too slowly if your listener is fantasizing.
    • Allow enough time for inquiries. If someone is going to invest in your business, a successful pitch realizes that a discussion is required. After all, you want possible potential investors to share your enthusiasm for your business, just as you do with anybody who would listen.

    3. Tell your startup story

    When delivering a pitch, it’s easy to become mired down in statistics, figures, and spreadsheets, yet this material will nearly always fail to pique your investors’ interest. Instead of treating the chance as a sales pitch, utilize it to teach prospective investors about your company’s history. This kind of narrative will create your pitch far more memorable and entertaining for your viewing public. If your client needs actual data, they can always request it from you.

    It’s as easy as this to tell a story:

    • Developing a professional demeanor yet being emotional and enthusiastic.
    • Looking around the room. Know when to crack a joke and when to move on to a more serious subject. You may go to the same place in any method, but only one will connect with your viewers.
    • Just in as a support framework for your startup’s story in a subtle way.
    • Making something that is both memorable and distinctive to your startup.

    4. Stay focused

    However, don’t lose track of the purpose of your pitch while you tell your narrative. Honoring the schedule of your clients should always be at the forefront of your attention. To prevent having lost in unimportant tangents, make sure your pitch’s main parts are clearly developed and highlighted when writing it.

    5. Demonstrate how your startup’s product or service is distinctive

    One of the most important aspects of attracting investors is demonstrating how your service or product differs from others on the market. It isn’t enough for your startup to be able to address an issue; it must be able to tackle a specific issue in a way that no other company can, and you must be able to demonstrate this in your pitch. It’s a good idea to point out any patents or licenses your product possesses, as well as any big buy orders or distribution arrangements, to back up your claims.

    6. Allow potential investors to get a firsthand look at your product.

    Allowing investors to see and feel your product personally is another great method to demonstrate the unique characteristics of your product. Images or photos of your product might help investors visualize it, but if at all feasible, allowing your audience to grasp it or check out a live demo can boost your effectiveness.

    7. Determine who your intended audience is and why they are important to you

    Investors are interested in knowing what your product is, but they also want to know who will use it. Using data about your target audience to build a map of your ideal client can assist investors to see that your company’s new product has enough need to warrant their investment.

    Whether your business is focused on a product or service, one thing seems certain: you must have an intended audience if you want to earn money. To target your core demographic, use psychographic and demographic information. Explain why these people are your target market. Use relevant statistics to back up your assertions and demonstrate the profitability of focusing on a certain demographic.

    8. Know your numbers

    You’ll still need to talk about the main statistics that investors care about when telling your business’s story: how much capital your startup needs to raise, what your present overhead is, where you need to get to be successful, and what your schedule is for getting there. While providing too many statistics in your pitch might detract from your focus, incorporating a few key data in your pitch will help you to show that you are ready and understand what is important to your company and industry.

    Top 6 Crowdfunding websites in India

    • Indiegogo
    • SeedInvest Technology
    • MightyCause
    • StartEngine
    • GoFundMe
    • Patreon

    Can I start a startup while working?

    Many businessmen start their businesses while working full-time for another company. This arrangement allows them to receive a wage while also allowing them to concentrate on their business. While this is an ideal scenario, it is tough to manage. It necessitates a careful balancing act. When most workers begin working, they sign employment contracts. These agreements might range from basic secrecy or non-compete contracts to full-fledged employment contracts with numerous limitations. Outside of typical office hours, operate your startup. It’s challenging, yet many businesses have succeeded. 

    Entrepreneurs have a habit of telling everyone they know that they own a firm. They frequently brag about their accomplishments to particular coworkers. This is not a good idea since it might backfire. Taking pride in one’s accomplishments may frequently invite unfavorable attention. Colleagues may develop a negative impression of you. Supervisors may be skeptical of your work ethic or commitment to the firm. It’s never a happy ending.

    Conclusion

    If you’re a business owner, you’ll need to know how and when to pitch your idea. Even if you don’t intend to seek investment, having a strong elevator presentation demonstrates that you understand your company through and out, which will come in helpful if and when you opt to seek funding.