Tuesday, August 3, 2010

Cash is King...

A contact of mine wanted to know what the biggest issue would be if he started a business.  The greatest issue is cash management.  What is your shelf life of cash?  A simple note of caution for self employed / startups - realize that during a downturn credit usually becomes much more difficult to obtain if even at all as many of us now know.

Just as importantly it also means that if your clients / customers are small businesses they too may find credit difficult to obtain and may not be able to pay you on time or even at all. Understand as much as possible about your cash needs and the businesses cash needs before you starting on your own to prevent becoming a statistic of failed businesses with great ideas and not enough cash.

Best of Success,
Eric Mitchellette

Monday, August 2, 2010

Managing Referrals with a Social Media Tool Such as LinkedIn...

If an employer gives you a printed copy of a recommendation(s), is it okay to transfer it to your LinkedIn recommendation section? Would you want to get their consent first? How would you show the printed recommendation(s)

At several recent events, meetings and also from a comments thread on the web the above question is frequently asked. It would be highly advisable, in my opinion, to ask for permission when posting recommendations in a public forum such LinkedIn. Having stated the above LinkedIn provides several tools that allow PDFs to be shown within a profile.

There are several scan to PDF tools are easily found on the internet if you have a scanner or simply go to a local printer for a scan to PDF image. SlideShare is probably one of the easiest tools to display a PDF or other supported images; in this case a letter of recommendation. Even if someone has left or never joined LinkedIn a letter of recommendation could still be easily shown with SlideShare.

Another avenue to consider is that you could also use MS-Live and MS-Live Office tools to create a quick website using your own name. Create your own URL with your name; you would own your brand! Microsoft walks you through the process step by step so it is very easy to setup. Creating a personal and professional brand is sends a strong message with prospective employers and interested others. Any search tool will find information and links to MS-Live Office. Personal brand management is important topic for another posting.

Best of success.
Eric Mitchellette