Strong Growth Forecast for 2013

January 28th, 2013

Long-time Staffing Industry Observer and respected Commentator Jeffrey Silber of BMO Capital Markets – US Equity Research News tells us that his group is projecting a 6%-8% increase in temp usage for 2013 and 2014. While this is slower than the (9%) growth the industry experienced in 2012, it still represents solid growth.

The staffing market and economy both face uncertainty, whenever business people perceive uncertainty they tend to be reticent to make significant expense commitments (like hiring more direct staff, more contractors/temps will be used) until the dust clears and there is more clarity. The uncertainty is caused by several factors including the political/economic landscape in the US and Europe, the costs of the Patient Protection and Affordable Care Act; (PPACA) and the growth of real GDP and the general direction of the economy.

New Unemployment claims are down well below the cautionary 400,000 mark according to Staffing Industry Analysts (SIA) Reports. Employment in most States is growing and contractor/temp wages have softened a bit which is a two-edged sword; while, it is easier to find needed workers it is harder to maintain higher margins as the supply strengthens.

For more information on Staffing M & A or a quick and accurate complimentary Valuation of your business or a confidential discussion, contact:

Bob Cohen at 416-229-6462 or Sam Sacco at 910-509-0691. We can also be reached at bob@racohenconsulting.com or sam@racohenconsulting.com.

Sam and Bob have successfully completed over 140 staffing industry transactions. Visit our website for more articles and information at: www.racohenconsulting.com

Rejection can be a powerful learning tool… if we use it to help us grow!

November 5th, 2012

Rejection can transform failure into a powerful tool for success and help your team develop the skills needed to deal effectively with adverse situations.

Here are some more critical points to help overcome rejection.

  • Use rejection as a form of feedback for self-improvement. What when wrong? What could’ve been done to prevent it?
  • Break challenges into incremental steps so that any failure is minimized.
  • Channel anxiety into a creative force for achievement so that, when frustrated, we become more productive.
  • Most salespeople will succeed only to the extent they are willing to suffer though many disappointments.
  • Being ready for the unexpected increases our chances of succeeding.
  • Whether we experience failure or success is unimportant; what is important is the way we deal with the experience.
  • If we can’t accept failure, we will quickly lose our enthusiasm.
  • Believing we have a chance to succeed sharpens our mental vision.
  • We resolve our fears by taking risks.
  • By breaking out of our comfort zone, we expand the arena of our opportunities.
  • When we avoid failure, we’re also avoiding new challenges and opportunities.
  • Recognize that failure is the ultimate learning tool. Every disappointment teaches a positive lesson — we just have to look for it.
  • It’s in times of adversity that we usually grow the most.

Adapted from the book The Courage to Fail by Art Mortell.

For more information or a complimentary confidential discussion on any Staffing M & A subject, contact:

Bob Cohen at 416-229-6462 or Sam Sacco at 910-509-0691.

We can also be reached at bob@racohenconsulting.com or sam@racohenconsulting.com

 Sam and Bob have successfully completed over 135 staffing industry transactions.

Visit our website for more articles and information at: www.racohenconsulting.com

5 Growth Strategies for your Business

September 10th, 2012

Here are a few tried and true strategies to help your business grow.

Each will require an action plan to implement in order to achieve your goals, however, it doesn’t have to be elaborate, it just has to be measured at regular time periods to see if you are on target and if not, to help the person (s) that are responsible for taking those steps that are holding the plan back.

1.  Expand what you are presently offering in your present location.

2.  Introduce new lines or sectors of business in your present location. It could be a speciality or niche you can develop and be known for in your industry.

3.  Expand geographically-take what you are doing to new, nearby locations, preferably send a trusted and valued employee from your present operation to get it started properly, in your style and culture.

4.  Acquire smaller culturally adaptable firms to expand at your present location or to open new territories for your business.

5.  Merge or sell to a larger firm who has already made the investment to expand their infrastructure as long as they do business in a way you and your staff will be comfortable with implementing.

Clearly, there are a lot of ways to grow your business; here are just a few suggestions. Enjoy the growth!

For more information on Staffing M & A or a complimentary confidential discussion, contact:

Bob Cohen at 416-229-6462  or  Sam Sacco at 910-509-0691.

 We can also be reached at bob@racohenconsulting.com or sam@racohenconsulting.com.

Sam and Bob have successfully completed over 135 staffing industry transactions.

Visit our website and check out the Resources Tab  for more Blog posts, articles  and archived Newsletters:   www.racohenconsulting.com

 

 

You know you’re an Entrepreneur if….

August 27th, 2012

Are you really living the entrepreneurial life? Here are a few ways to know for sure.

Making money is serious business… until, of course, it’s not.

Entrepreneurs should be able to take themselves a lot less seriously than their businesses; that’s the assumption of Kirchner Private Capital Group (KPCG) a traditional merchant bank for early and mid-market companies.

So they put together a short humor book, How do you know …if you are an Entrepreneur, with one-liners and illustrations you can use to determine whether you’ve truly lived the entrepreneurial life.

Below are some of my favorites. You know you’re an entrepreneur if:

  • Your kids report their academic performance to you on a grades versus forecast basis
  • When someone says, “Good question,” you know they don’t have a clue what the answer might be
  • Most of the experience you’ve gained came right after you needed it
  • Two steps forward, one step backward is a great day
  • Most of your daily calories come from eating humble pie
  • You look for pessimists to borrow money from… since they are less likely to expect to get it back
  • You consider Red Bull a corporate sponsor
  • Being disruptive sounds like a good thing
  • You feel well paid… until you calculate it on an hourly basis
  • Your child thinks heaven must be a very rich place because angels give you money

It’s a fun little book, one that also makes KPCG sounds like a fun place to work. Proceeds go to the Christopher Douglas Hidden Angel Foundation, an organization dedicated to helping enrich the lives of people with cognitive, emotional, and physical challenges.

For more information on Staffing M & A or a complimentary confidential discussion, contact:

Bob Cohen at 416-229-6462 or Sam Sacco at 910-509-0691. We can also be reached at:

 bob@racohenconsulting.com or sam@racohenconsulting.com.

Sam and Bob have successfully completed over 135 staffing industry transactions.

Visit our website for more articles and information at:     www.racohenconsulting.com

 

How to Be Happy at Work-Part 2

August 7th, 2012

In Part 1 we discussed that the way we set things up in our minds indicates whether we will allow ourselves to be happy or miserable most of the time.

We learned that happiness and unhappiness (in work and in life) result entirely from the rules in your head that you use to evaluate events.  Those rules determine what’s worth focusing on, and how you react to what you focus on. If you need a copy contact us.

Make Yourself Happier: 3 Steps

The saleswoman who had breast cancer was happy, too, and this is the method she used to make herself happy:

1. Document Your Current Rules

Set aside a half-hour of alone time and, being as honest as you can, write down the answers to these two questions:

  • What has to happen for me to be happy?
  • What has to happen for me to be unhappy?

Now examine those rules.  Have you made it easier to be miserable than to be happy?  If so, your plan is probably working.

2. Create a Better Set of Rules

Using your imagination, create and record a new set of rules that would make it easy for you to be happy and difficult to be miserable.  Examples:

  • “I enjoy seeing the people I work with each day.”
  • “I really hate it when natural disasters destroy my home.” 

Don’t worry whether or not these new rules seem “realistic”–that’s not the point.  All internal rules are arbitrary, anyway.  Just write rules that would make you happier if you really believed them.

 3. Post the New Rules Where You’ll See Them

When you’ve completed your set of “new” rules, print out them out and post copies in three places: your bathroom mirror, the dashboard of your car, and the side of your computer screen.  Leave them up, even after you’ve memorized them.

Having those new rules visible when you’re doing other things gradually re-programs your mind to believe the new rules.  You will be happy at work.  It’s really that simple.

Oh, and by the way … That saleswoman? She was my mother.

For more information on Staffing M & A or a complimentary confidential discussion, contact:

 Bob Cohen at 416-229-6462 or Sam Sacco at 910-509-0691. We can also be reached at bob@racohenconsulting.com or sam@racohenconsulting.com.

 Sam and Bob have successfully completed over 135 staffing industry transactions. Visit our website for more articles and information at    www.racohenconsulting.com

How to Be Happy at Work-Part 1

July 30th, 2012

If you’re unhappy at work –or anywhere else, for that matter–it’s possible you’ve made yourself unhappy without being aware of it. There’s an easy way to change that.

Credit belongs to Geoffrey James for this article who writes the“Sales Source” column on Inc.com.

Let me (Mr. James) start off with a little story.

I once knew a saleswoman–young, divorced–who got a diagnosis of breast cancer.  She had to work and raise two kids while fighting the cancer. Even so, she managed to be happy at work, noticeably happier than her co-workers.  In fact, she not only won her battle with cancer but subsequently became one of the top salespeople at Bristol Myers.

She was not, as it happens, naturally cheerful.  Quite the contrary.  When she started full-time work, she was frequently depressed.  But she turned it around, using the techniques I’m going to provide you in this column.

That saleswoman once told me: When you’re unhappy, it’s because you’ve decided to be unhappy.

Maybe it wasn’t a conscious decision; maybe it crept up on you while you weren’t looking–but it was a decision nonetheless.  And that’s good news, because you can decide instead to be happy. You just need to understand how and why you make the decisions.

What Are Your Rules?

Happiness and unhappiness (in work and in life) result entirely from the rules in your head that you use to evaluate events.  Those rules determine what’s worth focusing on, and how you react to what you focus on.

Many people have rules that make it very difficult for them to happy and very easy for them to be miserable.

I once worked with a sales guy who was always angry at the people he worked with. The moment anything didn’t go the way he thought it should go, he’d be screaming in somebody’s face.  He was making everyone around him miserable–but just as importantly, he was making himself miserable, because just about anything set him off.

For this guy, the everyday nonsense that goes on in every workplace was not just important, but crazy-making important.

I once asked him what made him happy.  His answer: “The only thing that makes this! $%$#! job worthwhile is when I win a $1 million account.”  I asked him how often that happened.  His response: “About once a year.”

In other words, this guy had internal rules that guaranteed he’d be miserable on a day-to-day basis, but only happy once a year.

One of the other sales guys at that firm had the exact opposite set of rules.  His philosophy was “every day above ground is a good day.”  When he encountered setbacks, he shrugged them off–because, according to his internal rules, they just weren’t that important.  When I asked him what made him miserable, his answer was: “Not much.”  When I pressed him for a real answer, he said: “When somebody I love dies.”

In other words, the second sales guy had rules that made it easy for him to be happy but difficult to be miserable.

I’d like to be able to write that Mr. Positivity regularly outsold Mr. Negativity, but in fact their sales results were similar.  Even so, I think Mr. Negativity was a loser, because he lived each day in a state of misery.  His colleague was always happy.  He was winning at life.  He was happy at work.

Next week we will publish Part 2 with some practical tips on making you a happier person.

For more information on Staffing M & A or a complimentary confidential discussion, contact:

Bob Cohen at 416-229-6462 or Sam Sacco at 910-509-0691. We can also be reached at bob@racohenconsulting.com or sam@racohenconsulting.com.

 Sam and Bob have successfully completed over 135 staffing industry transactions. Visit our website for more articles and information at:

www.racohenconsulting.com

7 LinkedIn Pitfalls to Avoid

July 23rd, 2012

Most professionals use the LinkedIn in some capacity–but one expert says they’re making a lot of mistakes that are easy to avoid.

Much of the credit for this post belongs to Tom Searcy –Inc.com

Today, LinkedIn is the No. 1 social media platform for professionals. Estimates of professional participation in LinkedIn are as high as 83%.

But when I talked to one of my friends–social media expert Alexandra Gibson from OttoPilot Media–she told me that she sees too many professionals making a lot of mistakes.

Here are the seven she sees most often:

1. Do you only use it if you need a job? I can usually tell when my friends are on the job prowl because all of a sudden, a barely existent LinkedIn profile is revived. The truth is that you’ll be much better served by keeping your profile and connections current, rather than just reaching out to people when you need something.

2. Do you have a complete profile? A bare-bones profile does not do you (or your company) any favors. Add all important companies and a description of the results you achieved in the past. Don’t forget to optimize your profile for search–creating a keyword rich profile will help people find you and your company.

3. Do you belong to the right groups? There are more groups out there than there are seconds in a day, so it can be difficult to decide which are most important. If you join no other groups, join your alumni groups (college, prep school, grad school, fraternity or sorority). Industry groups–both for your own company and your major customer market segments–are a clear next step.

4. Are you sharing valuable content? When you publish a great blog post or your company creates a valuable white paper, share it on your LinkedIn feed. Also, share content in your feed from other sources besides your own. Post in your groups to judiciously share articles and links if you feel that it would be of interest to that audience. This will help show you as a thought leader–and, if the content is on your site, it can generate quality leads directly from LinkedIn.

5. Are you building out your connections? Again, don’t wait till you need something: You should be constantly adding and accepting connections from people you know professionally or personally. I do not recommend trying to connect with people that you don’t actually know: You want this to be your real professional network, so if someone says, “Hey, I see you know Jim Smith,” you can say that you actually worked with him at a project at a previous company and not that you were just padding your connections number.

6. Are you utilizing LinkedIn Answers? The underutilized LinkedIn Answers section is another valuable place to show your expertise and provide value. People ask questions and, if you know anything about the topic, you can answer in a forum. Add links to important content that backs up your answer, especially if it’s content from your site that fits with the question. One of the best things about LinkedIn Answers is its staying power–unlike other social media sites (think Twitter), the section gets visited by people with similar questions over time, so it can generate leads even a year later. 

7. Have you brought your staff along? Sure, it might be a bit much to require your CFO to join some social media sites—however, since LinkedIn is a professional network that focuses on individual, professional connections, you should emphasize its importance to your entire team. Think of the power you could tap into if, the next time you go to pitch a company, you check LinkedIn and see that Mary Ellen in accounting is already connected to the chief marketing officer.

If we learn these lessons, we can all build our brand(s).

For more information or a complimentary confidential discussion, contact:

Bob Cohen at 416-229-6462 or Sam Sacco at 910-509-0691. We can also be reached at bob@racohenconsulting.com or sam@racohenconsulting.com.

 Sam and Bob have successfully completed over 130 staffing industry transactions. Visit our website for more articles and information at: www.racohenconsulting.com