Tips for Choosing the Right Business Partner

If you think that having a business partner is what you and your business needs, here are some tips for you while choosing ‘the’ business partner for you.
1.Background Check: Make a thorough check of the potential partner on personal and professional levels. It will give you a better idea on what kind of person you are going to be dealing with. A personal background check will help you to know how he/she handles relationships and a professional background check will reveal his/her professional and business credibility and work place relationships.
2.Personal Stability: It is good to have a partner who is not struggling with pressing personal issues. If he/she is stressed out on the personal front, it is likely that he/she will not be able give 100% input required for a new business venture. Personal financial stability will ensure that the potential partner is more interested in making the business grow than in making money. It will also decrease the temptation to swindle money off your back.
3.Vision and Objective: Your partner should be someone who believes in your pipeline dream. He/she should be able to envision your business venture the way you see it a few years from now. Objectives are the short-term benchmarks you have for the business and your partner should share them.
4.Business Compatibility: While it is good to partner with someone having a different field of business expertise, it is not advisable to have incompatible business differences. The leadership styles and business dealing methods should be compatible, not necessarily be the same. You should be able to have a good working relationship with your partner, which is impossible if you are going to be at loggerheads for basic business codes and ideals.
5.Complementary Skills: For the business you are starting out with, you may not be having all the required skills. Even if you did, you might not be able to give full justice to all the components at all times. So, it will be more profitable and beneficial to have someone with complementary skills and different area of expertise as a partner. This will broaden your business scope and take a load of burden off your shoulders.
6.Contribution: There are less chances of a partner pulling out or being indifferent to business development if he/she has made a substantial contribution for the start-up, financially. Where this is not possible, the contribution could be in terms of resources (location, infrastructure) or a strong business network.
7.Ethics and Integrity: A person who is ethical in his/her actions and carries himself/herself with integrity in life’s every aspect, will not leave you high and dry without a valid reason. Also, such a person will be easier to trust and will inspire respect.
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How to Save Money When Expecting a Baby

One of the biggest expenditures for children generally happen to be towards their education. But even before your baby is born, there are heaps of expenses to be dealt with. Here are some ideas to help you deal with these expenses.

Prenatal Medication
As soon as the pregnancy test is declared positive, would-be parents need to start shelling out money towards medical tests, ultrasounds, fees of gynecologists, nutrition supplements and so on. The uphill burden of expenditure can be reduced by opting for a health insurance policy right from the time you get married or start planning your baby. The health insurance company generally expects policyholders to pay a minimum amount towards each medical bill while the rest of the medical expenses are borne by the health insurance company. As a thumb rule, check if your hospitals, gynecologists and pharmacies accept the insurance policy that you have. If not, then I recommend that you search for medical services that have a tie-up with your health insurance company before you set up an appointment. This will help save a lot of money.

Preparation for Baby
It is delightful to go shopping for baby clothes, cribs, car seats, strollers, baby monitors, etc. Some of you might even redo an entire room, converting it into a nursery. As exciting as it seems, babies tend to grow very quickly and it is therefore futile to spend a huge sum on new and expensive baby clothes. Even doctors recommend usage of soft, tender and used baby clothing on babies. Personally I suggest that you may opt for borrowing baby clothes, cribs, strollers, etc., that have been previously used by your friends for their babies. And if you are lucky enough, you might receive some new accessories for your nursery as baby shower gifts. I can’t help mentioning a noteworthy fact about pregnancy in advanced stages. The recommended restrictions of movement and food consumption for a pregnant woman is likely leave a considerable surplus of money in your kitty.

Delivery
As previously mentioned, couples might have to be careful while selecting hospitals for the upcoming childbirth. It is ideal to get confirmation about the hospital’s tie-up with your health insurance company way before the due date. It is also recommended to get similar confirmations from the obstetrician and anesthesiologist before you appoint them for the delivery. This will help you save a huge sum towards delivery and hospitalization expenses. The arrival of a baby is a wonderful moment. But it is suggested that you find some time to check with the health insurance company for possible addition of your newborn child under health benefits. This might mean an additional expenditure towards premium, but trust me, it is well worth the expenditure. After all, there might be – god forbid – some unforeseen health expenses for your baby. Read the rest of this entry »

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Measuring Employee Productivity

Measuring employee productivity is to calculate an employee’s qualitative and quantitative work. It can be calculated on a monthly basis, yearly basis or by daily assessment. Before measuring an employee’s productivity, it is necessary to determine what are outputs to be measured. If an employer expects too much output from the employees, they will find shortcuts to achieve the expected benchmark and as a result, quality will suffer. Conversely, if less productivity is expected, the company’s overall performance will decline because of inefficient use of available resources. If a manager wants to measure employee’s productivity in the organization, he needs to know how to use certain basic software tools such as bar graph, pie chart, speadsheet etc. Now, let’s understand few methods explaining how to measure employee productivity.

Measuring Timeliness
This type of measurement is to know whether an employee is able to complete the specific task at a given period, and how much time or days he/she takes to accomplish the assigned work (for example: how long it takes for an employee to deliver a service or produce a specific product). This is an important measure to find out the overall delivery of service. Timeliness can be measured by setting up a track system in a computer, that calculates the employee’s work from the time the work was assigned to the time of completion of the work.

Building a Balanced Scorecard
Balance scorecard is one of the efficient performance measurement tools employed in industries, business organizations, government offices, etc., to monitor and process daily activities of the employees. The managers of an organization employ this strategic tool to evaluate the performance and quantity of work executed by each employee. The financial and non-financial measures and targets are some of the indicators set, that are present in the balanced scorecard.

Developing Performance Metrics
Performance metrics is one of the evaluation techniques that is used in organizations to quantify the performance of an employee. Performance metrics is developed mostly to determine the health of the ongoing project of a company. The main objective of performance metrics is to align the customer requirements with the values of the company. The process of developing performance metrics is discussed below:
•Identifying the customer requirements Read the rest of this entry »

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Single Purpose Credit Card

Advantages To the Store
There are many advantages of a single purpose credit card to the issuer. Let’s look at them one by one.

1. Increased Sales: Consumers using single purpose credit cards don’t need to pay for the purchase, each time they go shopping. They only have to give their single purpose credit card and pay for the expenses made, which they can repay before the due date. These stores also offer many discount schemes, which attract consumers and increase the sales of the store.

2. Prevents Consumer Flight: Consumers are attracted to the discount schemes offered by the store. Also they get to buy goods even without paying for it. So, customers when on a cash crunch will definitely come there. Consumers get used to the buying pattern followed and become regular customers there.

3. Increased Profits: As the sale of goods increases, the revenue of the store also increases, which in turn increases the profits. Not only that, these stores also earn in the form of interest payments from the defaulting parties. This feature was not present in the traditional system of giving goods on credit.

4. Reduced Losses: As the store gets to choose the goods that a consumer can buy on credit, it can easily reduce its losses even when goods are sold on credit. For example: A store is providing its customers with a single purpose credit card to be used only on grocery items. Now the question is how much grocery is an individual going to anyway purchase for the entire month. There is a limit to the grocery products that an individual can buy and thus not a lot of the store’s money is stuck in credit. It will receive most of its repayment before the due date and if not, it will receive an additional interest from the defaulting consumer.

Advantages to the Consumer
1. Schemes and Discounts: Those using a single purpose credit card, normally receive several discounts and schemes on goods bought in a particular category, by the store. Consumers can make the most of it by spending less for the same amount of goods or by receiving free goods. Read the rest of this entry »

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Physical Attributes of Corporate Flight Attendant

It is quite common to notice a variation in the expected physical attributes of corporate flight attendants by various airline companies. However, some common attributes are listed below for your benefit:
•It is expected that all flight attendants have perfect vision and flawless complexion.
•Staff is expected to have a height ranging from 5’2” to 5’9”. This rule is flexible from airline to airline.
•It is expected that the height and weight of flight attendants are proportional. Airlines will reject any person who is overweight.
•Attendants are expected to be physically healthy so that they can handle the strenuous and lengthy time-frame of each journey. A prospective candidate is put through rigorous physical tests to ensure that he has sufficient stamina to handle normal journeys and emergency situations.
•Flight attendants are expected to be neat and presentable at all times, as they are the face of the airline.
•Airlines have certain stringent rules regarding personal hygiene of all their flight attendants. All staff members are expected to avoid keeping unkempt hair. Similarly, flight attendants are expected to maintain well manicured nails and clean hands at all times.
Educational Qualification
•Most flight attendants are expected to at least hold a degree before they apply for this post. This requirement is not relaxed unless you are exceptionally qualified in any other field.
•You need to complete a flight attendant’s training course in addition to your academic qualification. That apart, you are expected to be well conversant with flight service etiquette.
•You are usually expected to be fluent in more than two or three languages apart from English or the regional language of the place your airline belongs to. Some popular languages are German, French, Arabic, Japanese, Spanish, etc.
•Also, you need a minimum 2 years of experience in any commercial aviation airliner as a flight attendant. Experience in first class aviation, five-star hospitality and concierge services is considered an added advantage. All corporate flight attendants are expected to give cent percent attention to detail and perfection in their service quality. Read the rest of this entry »

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