Keywords in your resume's and cover letters

Online search tactics aren't just for companies anymore. When applying for jobs these same strategies need to be included in your own "get the job" tactics, especially if the company is using an electronic system to recruit. So for all of you looking at graduate recruitment with some of the big companies, start researching the relelvant KEYWORDS and place them in your application.

Monster Quizzes - Career Tools and Quizzes: "By doing extra research on hiring managers' needs, you might find additional buzzwords that will help your resume get found in an electronic applicant search. Examples of keywords are job titles (sales manager, project manager, network administrator), specific skills (HTML, project management, financial analysis) and education (MBA, BA, BS, bachelor of arts). Some hiring managers have reported they also use soft skills, such as self-starter, and specific company or school names as keywords."

Unmet needs of customers

Hunting for opportunities to get your feet into a new business? According to innovation consultants Strategyn Asia-Pacific, 7 out of 10 new product launches never go ahead, simply because the big guys aren’t looking for opportunities where there is that unmet needs. Do you think you are the one who could find out these unmet needs and take advantage of them? The opportunities are endless!

Staff management

Staff management can be tricky, and as a young entrepreneur with not much experience it can be hard to know what to do. What you should know, is that you should always be looking for ways to make your staff feel valued. Because hey, no one can run a business without other people helping them! Check out these suggestions from BRW on what some organisations are doing:

• Laptops
• Bottles of wine
• Mobile phones
• Housekeeping for a weekend
• Crystal glasses
• Gym membership
• Lifetime Qantas Club membership
• Football tickets
• A set of golf clubs
• A frozen turkey

Who knows what the frozen turkey was for!

Opportunities for young entrepreneurs - biz in Fairtrade

Did you know… $8 million was generated from Fairtrade products last year? The market for Fairtrade products has grown by 50%, that makes it the fastest growing industry in the world!! What does this mean? An amazing opportunity for young entrepreneurs to take advantage of! If you are worried that there is no money in ethical or socially responsibly businesses these days, and it is all just about profit, think again! See how you can make the most of this growing market.

Homepreneurs, the Myths and Facts

Check out the great article below, by Amanda Gome!!!

*/Homepreneurs, the myths and facts /*
Thursday, 10 May 2007

By Amanda Gome

When I told people I had left a big corporate to start SmartCompany

I was asked many times whether I would be “working from home”.

The patronising tone was always a shock. For the past 10 ten years

I had been researching and writing about the quiet revolution occurring

in the workplace and had observed highly innovative companies

starting or working from home.

The revolution was kick-started by the growth in the service industry

in the 1980s and gathered pace through the 1990s as big corporates

downsized, forcing people out clutching retrenchment packages. Aided by

technology, they make up many of the 110,000 people who start up

businesses every year.

Yet the home-based business sector of the economy continues to be

misunderstood. People think of home-based business people as cottage

industries or trades people.

Worse, they consider them drop outs, unsuccessful, “mompreneurs” or

women with a hobby earning enough for a trip to Noosa. Sure, some are

home-based business hobbyists. Many of these will never make enough

money to file a tax return.

But many of the almost one million home-based businesses are successful.

By far the most misunderstood group at home are the “homepreneurs”.

Homepreneurs employ at least one other staff member and usually aim to

grow. They also make up a sizeable part of the workforce: of the 1.2

million small businesses, about 30% are homepreneurs.

Homepreneurs fall into two groups. First are the business builders who

are at home as a temporary measure before being forced, by staff

numbers, to move into larger offices.

Business builders can end up running global businesses. RMIT

University’s Kosmas Smyrnios, who researches high-growth companies, says

more than half start from home, usually because of the low cost.

The second group are business lifestylers – and are committed to staying

at home unless forced out. They still work extremely hard, employ staff

and want to be successful but their lifestyle is very important and they

build their business around it.

Yet myths abound about this sector. Here are the top nine facts about

successful homepreneurs.

*1. Most homepreneurs are ambitious males who want to run successful

businesses:*

Many people believe home based businesses are run by women running

cottage industries or e-Bay businesses. But ABS figures show that only

17% of home-based businesses are run predominantly by women. There has

been huge growth in the home-based business operators (57%) aged 30–50,

particularly males. Ross Cameron, who has researched home-based

businesses, says this is the age when men get retrenched and set up a

home business. Many are in classic white-collar areas and include

management consultants, copywriters, finance brokers, lawyers,

accountants, IT nerds and management consultants.

*2. Most homepreneurs work very long hours and run established businesses. *

Many people assume home businesses are hobbies. Some are. But ABS data

shows the majority of people are home work more than a 35-hour week and

one-third employ staff. The majority of home businesses are also more

than five years old. While some – the business builders – move out after

a few years, most do not want to move from the home base.

*3. Homepreneurs are technologically very savvy. *

Many people still carry the picture of the cottage industry or tradesman

working from home. But ABS data shoes us home-based businesses are more

likely to be computerised than non-home-based businesses. In fact, this

is the reason they can operate from home.

*4. Homepreneurs are more likely to be extroverted.*

Doesn’t make sense? Think about it. If you don’t have the skills and

personality to network as a homepreneur, you will fail. Executives in

big corporates who have been put out to pasture for no longer fitting in

with the corporate culture often make lousy homepreneurs because they

take their problems with people in the workplace with them. Homepreneurs

also need to make new contacts.

*5. Homepreneurs are comfortable parting with money.*

Homepreneurs watch every cent; that’s partly why they are home – because

it is cheap. But they must also be comfortable paying for the best

technology and the “appearance” of being successful to overcome the

“home” image. There are also a huge amount of unexpected costs that

arise, which are a surprise to the corporate refugee who has never paid

for a color printing cartridge in his life.

*6. Homepreneurs are chasing opportunities.*

The assumption that people start home-based businesses out of necessity

because they can’t get a job elsewhere is not true of homepreneurs.

People in this group are opportunity entrepreneurs. While they are

seeking greater personal freedom, they also are pursuing an idea and the

chance to make something of their lives, says Jane Shelton, managing

director of policy group Marshall Place associates.

*7. Homepreneurs are an extremely attractive target for marketers and

advertisers.*

Many advertisers ignore the home-based business market because it is so

diverse and difficult to reach. But Shelton’s research into the home

worker (which also includes people working from home that are employed

by large corporations) shows they are a very attractive target. She

estimates there are 2.8 million home workers and 45% belong to a higher

socio-economic segment. They are twice as likely to be managers and

administrators with professional qualifications and six out of 10 are

big spenders, with almost half owning and trading shares. They also seek

a constant supply of information on business opportunities and

investment decisions.

*8. Homepreneurs are big risk takers.*

Home is often seen as a soft option. It is anything but. A whole new set

of challenges present themselves. Homepreneurs must overcome solitude,

develop sales, marketing and networking skills, learn to multiskill and

juggle plus overcome the shock of having to do everything such as buying

the stationery until they hire that first employee.

*9. Homepreneurs dress for success.*

Forget the image of the SOHO office with the business owner in tracky

daks. Homepreneurs are extremely disciplined and become expert at

shutting the front door in well-meaning friends’ faces. They start the

day in cafes with their laptops or newspapers, dressed for work.

Why young people make the best entrepreneurs in the age of the internet

Just read a great article http://many.corante.com/archives/2007/05/19/the_bayesian_advantage_of_youth.php that helps to explain why young people are amaking some of the best enterpreneurs these days. We have grown up with the internet at our finger tips - and it has been the internet that has changed the way business is done. Well, opened up all new possibilities. Have a read!

Frank Team working with Commonwealth Bank Foundation

BUILDING THE FINANCIAL SKILLS OF YOUNG PEOPLE – WHILE HAVING FUN!

We all need to eat, drink, sleep and breathe, right? But what else do we need to live successfully in today’s world? ‘Financial literacy’ has become increasingly relevant, yet many young people just don’t have the skills.

The Commonwealth Bank Foundation (CBF) has contracted the services of The FRANK Team to empower and educate young people around Australia throughout 2007...up to 30,000 young people in fact! The purpose of the events is to increase young people’s confidence and knowledge about money so they can have more of what they want out of life - more freedom, more choices, more options, and all under the Start Smart banner.

A range of exciting and fun – yes fun - educational workshops will be run by The Commonwealth Bank Foundation with The Frank Team in capital cities as well as regional and rural towns across the country. Workshops are run in a participative style by experienced Frank Team facilitators who know just how to get young people involved. And they know because they are young people themselves. All of the facilitators are under 35!

Money management skills covered include understanding the difference between credit and debit; the concept of “free money” and interest; costs associated with living in society today, as well as looking at young people’s attitudes toward money.

For more info check out Overview%20of%20CBF%20Programs%20for%20promotion.doc

Or www.commbank.com.au/foundation or www.startsmart.com.au

Testing Your Business or Project Idea

So you’ve had an idea! You think it would make a really great business and are thinking about starting up. So what are some “tests” you should put that idea through to really work out if it’s “the one” you should pursue with all of your time, energy & money? Try these:

Excitement levels
When you think of your idea and turning it into a business, how excited does that thought make you? Starting and running a business takes a lot of heart and soul to make it truly successful, so if the idea doesn’t “rock your boat” in some way then it’s probably not right. The most successful business people will always tell you that passion for your idea and business is essential. So really ask yourself right now, does this idea wake me up at night? Does this idea fill my belly with butterflies when I think of where I can take it? Does this idea lead directly to thoughts of who you could work with on it? If you answered yes to these, then your idea has passed its 1st test!!

Outsiders
Have you told anyone else about the idea? What do they think of it? Of course, you may be worried about people “stealing” your amazing idea, so put due processes in place to protect yourself (MOUs or confidentiality agreements or get some legal advice if you’re truly worried), but then get out there and ask everyone you know what they think! Get them to pick it apart and ask you a million questions. This will help you to see what research still needs to be done, where the holes in the idea are, where there is more potential in the idea and perhaps will show you if the idea is not right in its current form. Of course, “advisers” have been proven wrong before, but no one has built a successful business without the advice of others. If your idea has withstood this barrage, you are doing really well.

Anyone done it before? Why not?
If your idea looks like it will be the “first of its kind” or “too good to be true”, ask yourself, why has no one else had this idea or done something with this idea before. Often the reason why no one has done it before is because it is not a really great idea, or its time has not yet come. Do your research in your industry to really find out why no one has done this before. It could be that the idea is so simple that no one has seen it yet, and it is truly brilliant. Or it could be that others have not seen any value or money in the idea. You need to find that answer for yourself too, to pass this test.

Uniqueness
Every customer you will get, generally, means you are taking them away from someone else! So what is going to make yours stand out such that customers will come to you rather than anyone else? How well do you then know your potential competitors, direct and indirect? Do a SWOT not only on yourself, but also on your competitors. You will learn a lot about your idea with this test.

Start up costs
How much is it going to cost you, and thus how much may you have to risk to get it started? Can you put together a 6 month budget to see what you are going to have to put on the line to start it up? How does that amount make you feel? Perhaps you can get out and sell some of your idea (product or service) at cost or for free to really test your market. Just starting small is a great test for your idea – just selling 1 tutoring lesson, 1 new computer mouse, 1 piece of clothing on ebay – what was the experience like, what was the demand like, get your customer to give you feedback, learn, learn and learn more. This will provide a huge wealth of information that will help to direct your next move in testing your idea further. And by the way, if you do this you have started your business!!!

The market
Of course a general look at your individual industry market and the general economic market can help to test your idea. How are other businesses doing in your area? Are they growing, stable or contracting? Get out there and look at trends, read industry magazines, talk to people in the industry, go to networking events – really submerge yourself in the market you are thinking about. You will get a sense of the vibe and energy around your area. Good vibes = good idea!

The numbers
Now depending on the type of entrepreneur you are and why you are starting, the financial numbers can also help to test your idea. For those of you just wanting to get out there, and get started and see how it goes – do just that, just start now. Others want to see that the “numbers” all add up – that is, that there is going to be profit and good profit in this idea. This will mean putting together at least a 1 year budget backed up with your research of the industry, competitors and market information. Get someone on your team who is really good at all of this stuff, and put your idea up against the toughest test, financial! Here at The FRANK Team we just got started, and then looked at the numbers as the phones started ringing, it has been purely organic from that point onwards

Of course this is all just some general guidance based on our experiences here at The FRANK Team and how we test our ideas as we come up with them – and the tests we have learnt the hard way that you should put your ideas through before going ahead with them. You need to do your own research and then ultimately it is going to be your decision.

And remember, there is no one way or right way when it comes to business. Just make it up!

So what is your great idea? How have you tested it so far?

Jessica Kiely
The FRANK Team

Young Entrepreneurs Workshop!!!

Do you want to start your own business?
Do you want to learn from other young people running their own business?
Do you want to take your business further?

Come along to the Young Entrepreneurs event The FRANK Team is putting on this June!!!

The SSHED- Sutherland Shire Hub for Economic Development is a world class biz incubator helping out biz's in the Sutherland area and they're hosting another Young Entrepreneurs Workshop on the 2nd June from 10am-2pm.

This is a great opportunity for skills training, facilitated networking, and self promotion! It’s run by young people, for young people and it’s free!

We have a great line up of speakers and guests at this year’s workshop, with Luke Janssen from Tigerspike as our key note speaker! And throughout the day you will also hear from other young entrepreneurs, including Jessica Kiely, Director of The FRANK Team!

Plus you: - attend a skills workshop, either:
Effective and fun biz planning for those just starting out!
OR
Another exciting new workshop to be announced
- get feedback on your business ideas from a panel of successful young entrepreneurs
- and there's lots of opportunities for you to make new contacts.

Getting involved again for the third year in a row are Sutherland Shire Council, the SSHED, GROW Sydney, University of Wollongong and the workshop is being run by The FRANK Team.

If you would like more info about the event, a flyer or an agenda, if you've got any questions, or you'd like to register please email me anna@frankteam.com.au or check out our website
http://www.frankteam.com.au/


Hope to see you there!

Frank Team in the Media

http://www.news.com.au/dailytelegraph/story/0,22049,21686930-36437,00.html

Always nice to get some PR! Thanks to our PR Champ Catriona Pollard for setting it up for us. Hopefully this helps to inspire more young entrepreneurs to get out there and give their ideas a go. It's a wild ride, and you never stop getting tested, but you're the one in control (mostly!).

Wanna-Be's VS Real Entrepreneurs

Check out the twelve differences between those who dream and those who act, according to InfusionMail:


1-Wanna-be's obsess about ideas. Entrepreneurs obsess about implementation.

2-Wanna-be's want more web traffic. Enrepreneurs focus on sales conversion.

3-Wanna-be's focus on positive thinking. Entrepreneurs plan for multiple contingencies.

4-Wanna-be's want to get on TV and get "famous." Entrepreneurs build their list.

5-Wanna-be's seek a perfect plan. Entrepreneurs execute and adjust the plan later.

6-Wanna-be's wait for their lucky break. Entrepreneurs engineer four, five, six plans and execute them in tandem, wagering that at least one plan will get traction.

7-Wanna-be's fear looking stupid in front of their friends. Entrepreneurs willingly risk making fools of themselves, knowing that long-term success is a good trade for short-term loss of dignity.

8-Wanna-be's shield their precious ideas from harsh reality, postponing the verdict of success or failure until 'someday.' Entrepreneurs expose their ideas to cold reality as soon as reasonably possible.

9-Wanna-be's put off practicing basketball until they've got Air Jordans. Entrepreneurs practice barefoot behind the garage.

10-Wanna-be's believe what they're told, believe their own assumptions. Entrepreneurs do original research and determine what paths have been already trod.

11-Wanna-be's believe they can do anything. Entrepreneurs do what they're gifted for and delegate the rest.

12-Wanna-be's think about the world in terms of COULD and SHOULD. Entrepreneurs think in terms of IS and CAN BE.