March 31st, 2008 by Wade Mann
As I’ve stated many times in this blog, with impending economic difficulty looming, now is the time to make your business even stronger than it was before. It’s the time to make the small decisions that will increase your business’s profitability, decisions like switching to Internet fax. It’s also the time to make big changes that will increase your company’s performance, like hiring high quality new employees.
But this can be challenging during an economic slow-down. Why? Because strong players aren’t looking to take the risk of leaving their job during this time. They’re going to play it safe. This is why you must really step up your game as a recruiter if you’re going to woo people to your company during the coming months.
Take Red 5 Studios, a video game startup highlighted in an article at Businessweek.com:
“Red 5 Studios handpicked about 100 dream candidates, spent time learning their backgrounds and interests from social networks and personal blogs, and airmailed each one a personalized iPod, complete with artistic packaging and a recorded message from CEO Mark Kern.”
The bottom line is that if you want to recruit really creative and interesting people to your team, you’ve got to employ really creative and interesting methods to get them.
Relevant Tags:economic slow down, economic difficulty, Internet Fax, Recruiting, risk

March 14th, 2008 by Wade Mann
There is a common perception that going into business for yourself is a dangerous approach to life. I read a great article by Bill Buxton at BusinessWeek.com about this issue. He make the distinction between gambling and risk taking. He says:
“. . . just because someone won a multimillion-dollar windfall by buying lottery tickets with their retirement fund, or survived running a treacherous river without any training, the fact is not altered that what they were doing was gambling, not investing. The end result is as unrepeatable as it can be inadvisable.”
He submits that running your own business is in fact a risky venture, but not a dangerous one. Dangerous is where you throw caution to the wind and allow fate to be your guide, whereas entrepreneurship allows you to mitigate a lot of the factors of the risk. By making smart decisions that decrease your costs, like choosing to use email fax, you decrease your risk. And by making smart decisions that increase sales, like hiring an amazingly talented sales manager, you further decrease the risk of failure.
When you consider the fact that there is no guarantee that the cushy and comfy corporate job that you have is going to be there forever, think again. With a constantly fluctuating market place, no job is safe. At least with owning your own business, you control the risk factors to a greater degree than you might working for someone else.
That, to me, doesn’t seem risky. It actually seems safer.
Relevant Tags:Email Fax, entrepreneurship, risk, small business
