Millennials in the Workforce

​Millennials in the Workforce
​Every generation faces different obstacles when entering the workforce, and Millennials are no exception. The Millennials are the generation that follow Generation X and the Baby Boomer era, with birth dates ranging from the early 1980s to the late 1990s. These Millennials are now coming of age, and they are entering the workforce by the millions. However, unlike with previous generations, advancements in technology have drastically changed the hiring process and job roles.

​Changes in the Hiring Process
It used to be that searching for a job was done by flipping through the classifieds in the local newspaper, or by talking directly to representatives of a company. Nowadays job searching usually takes place online using various employment search engines that allow a prospective employee to submit a resume within minutes. While this process has its advantages, there are distinct disadvantages as well.

An advantage that millennials have, in regards to the hiring process, is the ability to apply for several jobs at the same time using online job platforms. Instead of choosing one particular job, prospective employees can search hundreds of jobs that meet their criteria and submit applications accordingly. In addition to being able to view multiple job openings, the internet has made it possible for job searchers to posts resumes on employment websites so that employers can contact them if they have the qualifications they are seeking.

While there is no doubt that technology has improved certain aspects of job searching, there are some drawbacks as well. When applying for a job online, there is no face-to-face interaction with the potential employer, and therefore it can be difficult to express other qualities, such as personality traits, that may put them ahead of the competition. The ease at which candidates can submit applications, also means that millennials might be competing with dozens of other applicants.

​Job Roles in the Modern World
As more Baby Boomers retire from the workforce, they leave an employment gap for the Millennials to fill. However, with advancements in technology changing the way business is conducted, many of these Millennials must adapt to new job roles. And while Millennials have access to information on a level previously unheard of, this can create some disadvantages as well.

With the scope of the internet increasing, Millennials bring to the table the ability to gather information from a vast array of resources. This can lead to increased efficiency in the workplace, in addition to opening new lines of communication among clients. Whereas meetings with clients in other parts of the country used to involve boarding a plane and meeting the client in person, this can now be done online using Skype or other web applications.

These advancements in technology have also led to skepticism as to whether Millennials are as dedicated to their job as prior generations. Employers are concerned that with so much communication taking place in a virtual world, Millennials will have difficulty dealing with issues in person. Furthermore, there is some doubt whether Millennials value the importance of meeting face-to-face.

New Business Startup Tips

New Business Startup Tips​
Starting a new business can be both exciting and terrifying. It’s a big risk, but if you start with a solid plan and you have a strong work ethic, it could pay off in a big way. It could allow you to truly see the fruits of your labor, instead of sweating for a corporation that neither cares for your contributions nor rewards you accordingly.Of course, there can be a pretty big learning curve associated with launching and managing your business venture. Where do you start and how can you ensure the greatest chance of success? Here are a few tips for new business startups.

Understand the Process
You’re not reinventing the wheel, and there are untold resources to help you understand the basics of starting a new business. If you’ve got an MBA under your belt, you probably have a lot of theoretical knowledge, along with some practical skills. This is a great start.

From there you must develop your products or services, undertake market research, and create your business plan. If you take time to plan properly during the preparatory phase, the rest of the process (funding, partnerships, setting up a supply chain, choosing a business location, getting permits, and registering your business) will fall into place more easily.

As a startup, you could face insufficient funding, and this may limit your options when it comes to hiring. That said, you still have to try to find the right people for the job.

Hiring requires you to strike a balance between education, experience, and finding people that fit your work culture. What you’re bound to find is that you’ll hook viable candidates based not solely on the salary and benefits offered, but your plan and your enthusiasm for the venture. You might also want to offer future benefits like stock options should your company IPO at some point.

There’s no getting around the fact that most startups need capital. This can come from a variety of sources, including government grants, banks/lenders, partners, and investors. In most cases, your business plan will play a pivotal role in securing funding, although your willingness to contribute personal funds (or put your money where your mouth is) could also be important.

Work/Life Balance
You’ve gotten your business off the ground. Now what? You’ll be working a lot of long hours to keep your business afloat long enough to start earning income. However, you don’t want to burn out and leave your business in the ashes, so it’s imperative that you attempt to keep some semblance of a life outside of your business.

Passion for Your Professional Pursuits
Starting a new business is hard, even if you love what you do. If you don’t have a strong passion for the industry or your business idea, you’re not going to make it through. This is something you need to think about before you ever consider entrepreneurship.

How Merchant Cash Advances (MCA) Can Help Grow Your Business

​If you are one of tens of thousands of businesses struggling to get a foothold on startup finances, you’re not alone – conventional financing has become more and more difficult to obtain, especially if your gross monthly receipts are less than $10,000. Thanks to the advent of merchant cash advances, traditional financing is now often used as a last resort instead of a first.Below are a few key reasons why merchant cash advance funds can grow both new and existing businesses.

They’re lightning fast:
Whereas traditional financing takes weeks of underwriting, piles of paperwork and numerous phone calls to get funded, getting a merchant cash advance takes much less effort and can often get funded within 3-4 business days.

All Key Solutions has streamlined the MCA process, allowing merchants to apply and get financing in a short period. Less time finagling with loan applications and waiting on funding is more time available to spend growing your business.

Payments are much smaller:
It’s hard to find a better alternative when payments are so small and, in fact, may shrink if your daily sales decline throughout the month. To clear any confusion, payments are based off a percentage of your daily sales (Visa and MasterCard) and not a flat monthly rate like traditional bank financing offers. These smaller payments build business credit, which may open the door to conventional financing down the road. And most advances are paid off in 6-7 months. This lessens stress, allowing businesses to earn more and pay less each day. (Imagine that!)

The bottom line:
Financing small business ventures is difficult when you lack personal resources or haven’t established business credit.

With merchant cash advances, at least small businesses and even larger businesses that are struggling have a fighting chance to make payroll, purchase inventory or expand.

Why Your Business Needs to Accept EMV/Chip Credit Cards

​Credit card security is a serious issue. Remember the 2013 Target credit card hack? There are far too many malicious entities out there who do whatever they can, to steal coveted credit card information from consumers for their own ends. In 2013, the cost of credit card fraud in the United States rose to an intimidating $11 billion.

Preventing credit card fraud is a matter of the utmost concern for card issuers. Recently, major card issuers like American Express have begun to issue credit cards that are EMV chip enabled. This new technology provides better security against theft and fraud, and consumers are quickly beginning to favor chipped cards for this reason.

For these chip cards to work, merchants need to update their point of sale systems. If you’re not making the switch to EMV-friendly POS systems, your business could be left behind in the dust as consumer demand for chips rises.  While most large merchants are already on board, many smaller retailers are still catching up.

Here are some of the biggest reasons why you need to start accepting EMV credit cards:

1) They help you fight back against fraud.

EMV cards have small chips embedded inside them. These chips generate unique information for each transaction, making it much harder for fraudsters to steal credit card information and create counterfeit cards. To accept these cards as payment, you will need an EMV-enabled point of sale system. These have special slots in them, and software equipped to process the embedded chips.

2) Your customers want it.

Your customers are quickly adopting EMV credit cards to protect themselves against credit card fraud and identity theft. As this process continues and the cards become more widely used, merchants that can’t accept EMV cards will be left out. Customers are beginning to expect retailers to accept this safer form of credit card payment, and they might not want to buy from you if you don’t have the equipment to do so.

3) It reduces your own liability.

As of October 2015, businesses that are not able to accept EMV cards could be held liable for certain kinds of fraudulent transactions. When you’re running a small business, every dollar counts, and you may not be able to afford this kind of liability.