FastUpFront

Do you want to try and guess the salary of Google CEO Eric Schmidt?

I’ll give you a hint: he doesn’t have a six or seven figure salary. He doesn’t even have a five figure salary. The fact is, he gets just $1/year.

When he was originally hired in 2001, Eric Schmidt was offered $250,000 plus a performance bonus. In 2005, along with the two co-founders Brin and Page, he lowered his salary to $1.

Whats the deal? Schmidt owns 9.5 million shares of Google. If he makes Google do well, then his net worth increases a lot more than any salary would give him. If he does his job poorly, then his net worth decreases.

In 2007, he actually lost money working for Google. For his sake, I hope he does a better job in 2008.

Whether you are on the phone with the airlines or you bought some defective merchandise, there are many situations where you might hope for a better resolution than the customer service agent “helping” you is able to offer.

What are your choices?

1) You can give up.

2) Use expletives and throw the phone across the room.

or

3) You can use what my mother taught me are the six most powerful words in the English Language when dealing with customer service.

May I Speak With Your Supervisor?

If you want to be polite, then you can say, “Please.”

Now that you’ve said it here is how you may still be screwed and the best ways to avoid it…

1) Sure, please hold a minute. Oftentimes, the minute will drag out for 20 or 30 minutes. To avoid this, at the beginning of any conversation with customer service personnel, ask for the employee number, the first and last name, or the the first name and the name of the call center. Each company has it’s own policy of which identifying information should be given to customers.

2) Hang Ups. Yes, even the most professional sounding “customer service” agent might hang up on you if you have not gotten identifying information first. Before begining your complaint kindly ask for the agents name and number if possible.

3) “My supervisor will tell you the same thing I did.” The first response should be, “Well, please let me try.” If they persist, then your response should be: “If your supervisor did not have any more power than you have, they would not be your supervisor. Please, may I speak to your supervisor.”

4) “I don’t have a supervisor.” Your response should be, “Oh, then are you the CEO of XXXX (Whatever company you are calling)?”

5) General stalling. At a certain point, if the person will not transfer you, you need to ask them point blank: “John, employee number 12345, are you refusing to transfer me to your supervisor?”

6) Pretending to help. Sometimes the agent will pretend to have resolved the issue just to get you off the phone. Later you will realize that the problem has not been corrected and you will need to call back and begin the process all over again, most likely reaching a different customer service agent with no record of your previous conversation. In order to avoid this have the agent fax to you a signed document stating your case and the proposed actions/ resolutions. Remain on the phone until the fax is received. Make sure it includes all the important information and official company mentions (logo and contact details). Keep a log of all your dealings with the company about the issue.

Check back for part II… “what to do once you are on the phone with the supervisor”

(Also known as network selling, direct selling, or multi-level marketing)

1) Never agree to go to an interview without getting a company name. Once you have the company name, you should research it on the internet. If you can’t find them, or anything about them, or if they require that you purchase costly inventory, then that raises some red flags. Check with your local Better Business Bureau and state Attorney General about any business that seems fishy.

2) Who pays your salary? If it is straight commissions then be suspicious. Is the company putting their money where their mouth is? Check that there really is a product, that it is a reasonable price, and that it is something which would be possible to find a market for. If the commissions are mainly for recruiting others to do the same thing as you, or for selling to others within the network, that is a pretty sure sign of a pyramid scheme.

3) Do they claim to have some secret plan/connection/relationship/method which you are unable to verify? Pyramid schemes are illegal, but they aren’t the only type of business that is illegal. Make sure that you understand how a business works and how it makes money for the various people involved. This is just one step in making sure its legit.

4) Business is not a matter of “faith”. Many pyramid schemes continually ask their members to “keep the faith.” They are continuously “pre-launch”, yet they never actually launch. If their best argument is that you should have faith, then don’t stick around, you can go to church instead.

5) “Earn your bread by the sweat of your brow.” It might not sound as alluring as promises of making thousands of dollars with little or no work, but you’ll find that “real” business opportunities actually require you to work. In return they offer you some sort of reasonable compensation. If there is an exaggerated compensation advertised, or if it “only takes an hour a day” then it is highly unlikely that this is a legitimate business.

For more info on pyramid schemes, check out the Federal Trade Commissions website.

1) You don’t have to worry about the loan shark taking the risk.

If you think your friends or/and family might lend you money, even though traditional bankers are saying no, then you probably have a pretty good relationship with them. You believe they care about you, and you probably feel the same way about them. If you don’t realize that there is a chance that you business can fail, then you shouldn’t be going into business. Whether due to external factors, or your own mistakes, any business can fail. Is this a risk that you feel comfortable asking your friends and family to take? Whether they invest in equity or debt, they should understand that there is a chance that the money might be lost. Since you care about your friends, you might not want them to take that risk.

2) If you can’t repay the loan shark you lose your credit, and maybe your house. If you can’t repay your family, you may still risk losing your credit and your house – but, more important to some, you also risk losing your relationship with your family member. When you accept investment/a loan from friends and family, experts agree that you should have it all written down, including collateral. You are not necessarily eliminating the risks of a bank loan. If you don’t want your friends to take as big a risk in their investment, you should certainly try to make it just as risky on your side as it would be with the bank. However, there is also your friendship at stake. Is this something you want to put on the line?

3) The terms of the loan are very clear when you work with the loan shark. Misunderstandings abound when accepting money from family and friends. Whether the unclarity surrounds the framework (equity, gift, loan) or over the terms (repayment method, interest, collateral) there is more than enough space for confusion to deter even the most loyal friends. It also puts your benefactor in the uncomfortable position of having to charge you interest, or requst collateral. This can put a strain on the friendship by itself, because both of you may be wondering if your friend would actually put you out on the street if it came to that.

4) The loan shark won’t ask you why you are going to London this summer, yet you were late with a payment last month. Don’t forget that family and friends know what you are doing and may see you on a regular basis. If you get a nice new watch, or go on an expensive vacation before your business is really booming, it could put a heavy strain on your relationship – and might elicit annoying comments. When working with a loan shark, this is a nonissue.

5) You don’t share mutual friends/family with the loan shark.Perhaps one of the biggest challenges is that loans rarely stay secret. It might come up when you all go out for dinner, or when you are talking to each other in church. But is very unlikely that it will stay between the people involved. It then has the power to taint your entire social life, especially if your business takes a turn for the worse. Think about it: Do you want to risk losing your parents retirement money, getting nagged constantly, and possibly losing your business and your family support network at the same time?

Be smart and think about all the possibilities. If in the end, you still want to go with a family/friend loan, I suggest you use a third party as a go-between to take some of the strain out of your relationship. One such company is Virgin Money. If you decide that you’d rather pay a bit more, and keep your friends and family out of the equation, then there are many different types of companies that offer alternative financing to businesses who are unable to get traditional loans.

No matter how many people say that it is a candidate’s market out there, it sometimes feels like no one wants you – especially if you aren’t entry level anymore, but aren’t quite mid-level yet either.

If you are a year or two out of college, you are switching careers, or you have taken a break since your last job, chances are it is going to be tough finding a new job. Before coming to FastUpFront, I worked for a few years as a recruiter. I know that recruiters don’t like these types of candidates so much, and that you might need to look at alternate avenues – job boards cheapen you to prospective employers and recruiters will ignore you.

5) Be Assertive.

When sending in your resume some place, always call to make sure they received it and set up an interview. In all likelihood you’ll be told that they’ll contact you if they are interested, but your assertiveness shows that you are interested and that… you are assertive.

4) Creatively Cater to the Needs of Prospective Employers.

When interviewing, ask your interviewer exactly what they are looking for. Ask what their concerns are about you. Asking these questions (1) shows that you care about them and want to cater to them and (2) gives you the opportunity to be assertive and address their concerns.

If, for example, your employer is concerned about your experience level, then you can offer a reduced price (like minimum wage “free/reduced price-trial”. This unconventional approach only makes sense if you are having a very tough time getting a job. Even if the employer doesn’t take you up on it – the offer shows that you are assertive and creative. Yes, it also shows that you are a bit desperate, but you can position yourself by suggesting that you have some offers, but that you really love the company, team, position, etc.

What if you don’t meet all the requirements? I recommend being very upfront, and then trying to work out a mutually beneficial solution. Do they need someone who can work late? Offer to come in over the weekend, etc.

3) Letters of reference.

References mean less and less these days because companies are afraid of being sued for giving too much information. Many companies, when called for a reference, are only willing to tell prospective employers start date, finish date, starting pay, finishing pay, and if you are eligible to work there again. This information checks if you are lying, but it won’t convince a slightly skeptical potential employer that you shine.

However, if you have a good relationship with people at your old work, you can ask them to write a letter of reference for you. Because you choose whether or not to use the reference, you have the responsibility of what is seen by other companies, and your former employers will probably feel more comfortable with this route.

I suggest making a short questionnaire asking about your strengths, areas for improvement, what they liked about working with you, why you left, etc. The very fact that they liked you enough to spend the time writing a letter of recommendation says a lot to a prospective employer.

2) Be persistent

• If you don’t hear back after sending in your resume, be persistent until you get an interview.
• If you don’t hear back after an interview, or are told that they are not interested, then ask for specific feedback.
• Ask if there are other open positions.
• Re-iterate all the things about the company that you like, and your qualifications and ask if they can advise you of other’s in the industry they think might be a good match for you.
• Ask their advice about what you need to do in order to better meet their needs, in case there is another open position in the future.

1) Work With a Temp Agency

I don’t think I have ever seen a case where a responsible, good worker who worked with a temp agency did not get offered a full-time position in less than 6 months. Even if a company is just looking for a temp to replace an employee on vacation, they know that a good employee is hard to find. If you impress them, they’ll remember you.

Once you have had good client feedback from a few temp assignments, the agency will usually set you up on a temp-to-hire basis. When working through a temp agency, companies care much less about your experience, because they get to see you in action. It is very similar to the creative solution example from point #2, but the company pays more, with the added security of working through a third party. I believe that this is the best way to get a job when having a tough time.

The best part: You basically get paid to interview.

Good Luck!

5) Low expectations.

Such a large number of small business close, that no-one will necessarily think so badly if yours does as well. Unless of course they made the mistake of investing in you.

4) No need to come up with lame excuses.

Actually, the problem is that in a lot of situations, your clients play the role of your “boss”. They are paying you, so they feel validated in telling you what to do and when to do it. Maybe those excuses are useful after all…

3) The boss doesn’t hit on you.

Of course, you have to be careful you don’t hit on anyone else. Unless of course you want to get sued.

2) 2 words, baby: Tax Write-Offs.

Small business owners get to go crazy with tax write-offs. Of course, your new wife might find it odd that you keep talking about your work with everyone on your honeymoon, but – hey – save your receipts and when you get back, you can check with your accountant.

________

And the number one reason?

1) You’re the boss.

If you want to sit around and play video games all day, no one can say schitt. Of course if you are going to do that everyday, then your business doesn’t have much of a chance. But, hey, you’re the boss. Feel that sense of entitlement.

Here is how to effectively avoid “hiring” issues:

1) Keep a record of your interview notes – don’t write anything that may be considered discriminatory. Keep a record of the job description and requirements which you provided to the employee originally.

2) Don’t exaggerate or understate your expectations of the employee, the success of the company, the future of the position, opportunities for advancement, etc. Some courts have ruled that statements made during an interview such as “We won’t be downsizing” are binding as a contract. When fired, the employee can then claim you have breached the contract. Serious trouble can come from seemingly benign statements like: “We don’t fire without just cause” or “Our company will offer you job security”.

3) In the offer letter, stick to the point. Don’t use terms such as “permanent” or any other term relating to time. Either verbally (with a note that it was done) or in the offer letter, make sure the employee is told that “the employer or employee has the right to terminate the employment at will.”

4) Make sure the new employee receives necessary training and that expectations are clearly outlined. Keep a record of time spent helping employee.

5) Give written and verbal feedback. Before firing, the last two feedback reports for an employee should be negative. Don’t try to sugar-coat, writing that there is improvement – this will just cause you problems later. Keep a record of efforts made to help the employee to improve.

6) Treat your employees with dignity. Embarrassing them, or treating them in a way that most people would consider unfair, will only encourage them to sue you, and will gain the sympathy of a judge/jury.

7) Remember that it is worth shelling out some money to get advice from a lawyer now, to prevent lawsuits in the future. Go through your human resources cycle with an employment lawyer and make sure that everything is on the up-and-up. It could save you big bucks down the road.

Everyone knows that discrimination is illegal, but do you know the breadth of questions which are considered discriminatory in employment law? Small businesses often have a harder time in this area, because there is not always a HR (human resources) specialist on staff. Many traditional employment applications that you might be using have questions which are illegal and can ruin your small business in court. Applicants can sue you for compensatory and punitive damages as well as legal fees. If you have any doubt as to the legality of a question/requirement, whether in a job posting, on an application form, or as something you can ask in an interview, consult with an experienced employment attorney. However, these questions are definite NOs.

Don’t ask: When did you graduate high school or college?

This question is illegal because it discriminates in two ways: (a) age – their graduation date will give you an idea of how old they are; (b) minority – minorities may be less likely to graduate. You are also not allowed to ask if they DID graduate.

Instead: “Tell me about your educational background.” “Have you studied this (relevant subject) in a school setting? At what levels?”

Don’t Ask: Is English your native language?

This question is discriminatory against minorities, non-native Americans, and members of the international community with work permits.

Instead: Do you speak English fluently? Or, if the job requires someone to be multi-lingual, “Which languages do you speak proficiently?”

Don’t Ask: Are you a U.S. citizen?

This question discriminates against legal residents and others with work permits.

Instead: Are you legally able to work in the United States?

Don’t Ask: Are you married, have kids, planning to start a family?

These questions are illegal because they discriminate on the basis of gender. They do not have anything to do with the job. There are some lawyers who say that questions regarding children and child care (in terms of ability to work late) are acceptable, providing the same questions are asked of both male and female applicants.

Instead: “Do you have time for a full-time job?” or “Are you available to work overtime?” or “This position requires some travel, are you able to travel?”

Don’t Ask: Are you healthy? or How did you get your injury?

These questions are illegal because they can be discriminatory to those with disabilities.

Instead: “Are you able to fulfill the requirements of this position?”

If the person is visibly handicapped, you may be required to make accomadations to assist them in fulfilling the requirements of the job. The best thing to do is to not bring up the disability at all, and to consult an experienced employment lawyer about what you need to do.

___________________________________________

If you do have specific requirements for a unique job description, your best bet is to use previous work experience as a measure of appropriateness to the position. This will generally allow you to remain “legal”. Questions regarding ability to obtain licenses, etc are acceptable. You should outline the requirements and ask the person if he/she meets them.

No matter what you ask, you need to maintain records which detail why each candidate was rejected or hired. This will provide security in the event of a threatened discrimination lawsuit.

Employment laws are frequently changed and updated, be sure to consult with a lawyer regarding any questions or potential issues.

Want to make it big as an entrepreneur? Check out these recent odd and quirky business ideas. P.S. These ideas could not have been too “stupid” as they have all made millions of dollars for the entrepreneurs who started them although I’m not sure how easy it was for them to secure small business loans for their ideas.

A dog is a man’s best friend? Some people seem to be taking this a bit too far...

1 ) Wiggles Dog Wigs. Wiggles is the creation of Ruth Regina a master wig maker who was asked by her friend twenty years ago to make a wig for her beagle. Regina’s business offers a variety of custom wigs and hair extensions for dogs.

2 ) Mungo & Maud’s Petite Amande dog fragrance. Perfume for your pooch? This fragrance is “… inspired by nature with notes of French blackcurrant, Tunisian neroli, mimosa and violet leaf on a base of sweet vanilla bourbon… with a little almond.” There’s even a matching shampoo!

3 ) Hey Buddy! Pet Supply Vending Company. In 1998, Carlotta Lennox started this company after visiting numerous parks in the Miami area and noticing that there was a need for pet “clean-up” supplies, food, and accessories. Her pet supply vending machines offer an assortment of pet food, pet treats, and pet toys, as well as flea collars, pick-up bags, leashes, and vitamin-water.

And this list would not be complete without…

4 ) Doggles. What started as goggles for dogs (exclusive eye protection from the sun) has become a booming business that includes: a fashion clothing line for dogs, pet sunscreen, and wearable pet ionizer, as well as pet charms and jewelry. And do you know that your new little puppy or kitten could be suffering from separation anxiety?! No need to worry… Doggles offers a line of plush pillows and toys that feature a heartbeat that can be felt and heard!

What do you get that person who is hard to shop for? Why not try one of these specialty items…

5 ) Road Kill Toys. Come to this site and meet Twitch the Racoon, a flattened plush toy with exposed (and squishy) blood and guts that comes in its own made to measure body bag. Also coming soon… Grind the Rabbit and Splodge the Hedgehog.

6 ) Antenna balls, anyone? Check out this business… it’s the “world leader” in designer antenna balls.

7 ) Lucky Break Wishbone. Who would ever think that there would be a market for fake plastic wishbones? Well… there is! If you didn’t get to break the wishbone last Thanksgiving, next year you can come to the table prepared!

And in the “why didn’t I think of that” category…

8 ) The Million Dollar Homepage. Create a page with a 1,000,000 pixels, and charge people a dollar per pixel to advertise. Now this guy’s a millionaire.

9 ) Santa Mail. Now your kids can get a personalized letter from Santa Claus mailed from North Pole, Alaska, thanks to a clever entrepreneur.

10 ) PickyDomains. Need a catchy domain name? Go to this site, and they will do it for you. Just deposit $50 dollars and describe what kind of domain you want. You will then receive their suggestions of available domain names. If you choose one of the names and register it, the service keeps the $50. Otherwise the money is refunded at the end of the month.

11 ) SatLav. The Westminster City Council, which covers Oxford Street, the West End, Big Ben and the Houses of Parliament in London, recently launched,a toilet-finding service for cell phone users. Now cell phone users can text the word “toilet,”and receive a text back with the address of the nearest public facility.

12 ) Excused Absence Network. Wish you had a doctor’s note to get out of taking that big test? Want to claim a sick day at work? The Excused Absence Network may be your answer. Students and employees can buy excuse notes that appear to come from doctors or hospitals.

13 ) Pet Rock. I had one of these.

Have any great ideas? 🙂

In the world of small business finance, business loans and bad credit do not usually go together. Even though federal interest rates have been dropping, which is good news for borrowers, the current credit crisis engulfing America, has caused the banks and lending institutions to be wary about approving loans on bad credit.The result is that only a select group of small businesses with sterling credit profiles will actually be able to take advantage of the drop in federal rates. So what can a small business owner do to get a decent business loan? Actually, more than you may think. The following are several ways that you can make your business more attractive to a lender even if you are dealing with bad credit:

1. Separate your business credit profile from your personal credit. Many business owners are unaware of this option, and they finance their businesses with their own credit. This is a costly mistake, since your personal credit profile will directly effect your business credit, and visa versa. By creating and building a separate business credit profile, you will be able to increase your business’ credibility. The result is better loan terms and an increase in the amount of funding that you can receive.

2. Offer collateral. By offering your assets as security against the loan, you reduce the risk the lender assumes by giving your business a loan. You can offer either your personal assets, such as real estate, or your business assets, such as expensive equipment. Just make sure you assess your own risk in offering these assets against a loan.

3. Get a co-signer. Having someone someone co-sign on the loan will also increase your chances of getting approved, especially if you can get someone who is well-known and established in the community.

4. Request a smaller amount. By requesting a smaller loan, you reduce the risk involved in offering it. Once you have successfully paid back the principle, you begin to rebuild credibility.

5. Get a bad credit business loan. With high interest rates and strict repayment schedules, these loans are typically unappealing to small businesses. But it if you can request a small amount and are able to successfully repay it, you are one step closer to rebuilding your credibility and getting better terms on your loan in the future.