7 Ways to Excel in a Male-Dominated Workplace

Gone are the days when women were concentrated in lower paying service jobs like retail workers and administrative assistants. Now more and more women are holding high level and high paying jobs in previously male dominated industries. To be successful in these industries, women require a lot of joggling especially if they are married and have children to look after.

Here are a few suggestions for women to get ahead in an industry that is known to be male-dominated.

• Make sure your value is known - One of the main challenges faced by women in the ‘male-dominated’ industries is making their value known.  It can be intimidating for some women to play by men’s rules. Women need to play on their strengths and characteristic qualities that are sometime lacking in men. Many women think they need to change when working in a male-dominated environment. But, your unique qualities or working styles can be the catalyst that helps you to be noticed as a person of value.
• Don’t be the ‘Yes’ woman - In many industries, there is tremendous pressure to work hard and go the extra mile.  Women must not feel obligated to say ‘yes’ to anything that doesn’t remotely list under their responsibilities. Agreeing to taking on every project in striving to be a ‘good employee’ will not do any justice to you in the long run. If you don’t learn to say no, you will ultimately hurt both yourself and the company you represent. It is important, however, to stand up for the projects you really want to work on.
• Be Confident - Having confidence in yourself goes a long way and can get you where you want to be in your career. Being confident, you won’t feel the need to get the ‘approval’ from anyone as women are just as capable of holding certain positions that appear to be reserved for men only. Being a woman, you may be playing more than one role. It is advisable not to allow domestic worries impact upon your confidence and focus at work.
• Be strong and structure oriented - As a woman, you need to not only prove yourself, but be relatively outspoken about it too - something many women are not comfortable doing. Being structured in your work, organized, technically strong, and ensuring you’re assertive goes a long way to earning the respect and recognition for a job well done.
• Have patience, perseverance and positivity - Maintaining a positive attitude and focus, together with equal doses of perseverance and patience, will stand you in good stead. One step forward is one step closer to getting ahead.
• Build contacts – Networking after work is a big part of building contacts in any industry. This is often done in environments that aren’t particularly female-friendly, but breaking into this is a must.
• Motivation and mentorship - Going it alone up the career ladder is hard. One of the most valuable things is to have a mentor - someone who has succeeded in the system, understands the challenges, and can guide you through some of the peculiarities of the industry, as a result of his/her own experience and lessons learned. A mentor can also push you a little harder than you might push yourself.

Remember, the amazing thing about women is that we’re stubborn individuals who will build strong, supportive networks to help each other grow. Keep a positive attitude and always challenge yourself to learn more. With knowledge and confidence, you can enter any office and show that you’re a valuable addition to the team.

Why Banks Reject Loans To Small Business

Starting a business is one of the most rewarding, yet difficult endeavours to undertake. The road to profit is very challenging. Business owners need a great deal of money to launch their venture. They depend upon commercial lending for financing. However, many times loan applications are rejected by banks.

Here’s a list of reasons a business loan can be rejected.

• Bad credit - Even though not everyone has the best credit, as far as lenders are concerned, this just isn’t an excuse. Poor credit is simply a sign that a borrower, or their business, does not prioritize repaying their debts. Credit score of the borrower is very important criterion for money lenders to decide whether to accept or reject a loan offer. Most banks typically won’t loan to a business owner whose personal credit score isn’t above a certain threshold (typically about 680).
• Not enough collateral - All business loans require collateral. Unfortunately not all businesses have sufficient collateral to support the size of the business loan they wish to borrow. Another obstacle is the price depreciation of certain collateral. Know the value of your collateral before you ask the bank for the loan.
• Under-capitalization - Borrowers often make the mistake of under-capitalizing their business loan application. Your personal and professional resources including fixed assets, retained earnings, and the even an owner’s equity, can be attached if required to secure repayment of the debt. Do your homework; know what capital you have on hand. Know what you can pledge and use to grow your business and repay the bank’s loan.
• Cash flow problems - Lenders see no reason to offer money to a business that has serious cash flow problems. Banks want to see that businesses have enough money to make monthly loan payments in addition to covering rent, payroll, inventory and other costs.  After all, if a business isn’t even making money to begin with, then there is no need to hand it a business loan in the hope that is generates growth. There has to be adequate cash flow available to repay a loan. Most bank term loans are not ideal for start-ups or very young businesses. They typically look for a few years of revenue generation. Start-ups can apply for SBA loans (which are loans made by a bank with a portion guaranteed by the US government). Most large banks have SBA loan departments, so be sure to check with your local branch.
• Lack of preparation - Many businesses simply aren’t savvy about the application process and believe they can walk into a bank, fill out an application and get approved for a loan. Before applying for a bank loan, businesses should have a written business plan, financial statements or projections, personal and business credit reports, tax returns and bank statements. They should also have copies of relevant legal documents including articles of incorporation, contracts, leases, and any licenses and permits needed to operate.
• Difficult conditions - Even if a business has excellent collateral, credit, and is well run, there is still the possibility that it will soon face industry-specific difficulties. For example, a lender may be hesitant to lend a business loan to a transportation company in the wake of rising fuel costs. The lender may expect that the soaring costs of fuel are just going to overtax the transportation company and make it difficult to grow or generate a profit. Outside influences are always considered prior to a loan approval or decline. They can include industry experience of a borrower, a business’s location, local or regional economic trends, competitors etc. In addition to these, seemingly unrelated factors, such as local climate conditions, may also influence an applicant’s approval or denial.

These reasons are warning signs to look out for on the road to getting a business loan. Even if borrowers achieve success and borrow business loans, they still have to successfully run their business and payback their lender. While not all ideas need financing to get started, getting a business loan is a great aid to launching a new company.

Legal Essentials For Starting a Business

Many different elements go into starting a new business. One of the primary requirements for setting up a business is to abide by the legal requirements set by federal, state and county rules and regulations. Abiding by these rules allows you to start your business off on the right path to help you avoid legal issues regarding the business structure in the future.

Here is the list of legal aspects you need to consider for start-up. Depending on your situation and type of business, hiring a tax accountant and/or good attorney with specific experience in your industry can help you.

• Business name - Before you start printing out business cards, make sure the great new name you thought of isn’t infringing on the rights of an already existing business. You can perform a free search online that looks at business names registered with the Secretary of State — that will tell you if the name is available in your state. Then, take your search to the next level and conduct a no-conflict, free trademark search to see if your name is available for use in all 50 states.
• Register a fictitious business name/DBA - A DBA (Doing Business As) must be filed whenever your company does business under a different name. If you’ve got a sole proprietorship or general partnership, a DBA is needed if your company name is different from your own name. For an LLC or corporation, a DBA must be filed to conduct business using a name that’s different from the official Corporation or LLC name you filed.
• Incorporate Your Business or Form an LLC - Forming an LLC or corporation is an essential step to protect your personal assets (such as your personal property or your child’s college fund) from any liabilities of the company. Each business structure has its own advantages and disadvantages, depending on your specific circumstances. Three popular options are: the LLC (great for small businesses that want legal protection, but minimal formality), S Corporation (great for small businesses that can qualify), or C Corporation (for companies who plan to seek funding from a VC or go public).
• Get Federal Tax ID Number - To distinguish your business as a separate legal entity, you'll need to obtain a Federal Tax Identification Number, also referred to as an Employer Identification Number (EIN). Issued by the IRS, the tax ID number is similar to your personal social security number and allows the IRS to track your company's transactions. If you’re a sole proprietor, you’re not obligated to get a Tax ID number, but it’s still good practice as you won’t have to provide your personal social security number for business matters.
• Learn about employee laws - Your legal obligations as an employer begin as soon as you hire your first employee. You should spend time with an employment law professional to fully understand your obligations for these (and other) procedures: federal and state payroll and withholding taxes, self-employment taxes, anti-discrimination laws, OSHA regulations, unemployment insurance, workers' compensation rules, and wage and hour requirements.
• Obtain business permits and licenses - Depending on your business type and physical location, you may be required to have one or more business licenses or permits from the state, local or even federal level. Such licenses include: a general business operation license, zoning and land use permits, sales tax license, health department permits, and occupational or professional licenses.
• File for trademark protection - You're not actually required by law to register a trademark. Using a name instantly gives you common law rights as an owner, even without formal registration. Since you’ve spent untold hours brainstorming the ideal name, and you’ll be putting even more effort into cultivating name recognition, you should consider registering your trademark for proper legal protection.
• Open a bank account to build business credit - When you rely on your personal credit to fund your business, your personal mortgage, auto loan and personal credit cards all affect your ability to qualify for a business loan. Using business credit separates your personal activities from that of the business. To begin building your business credit, you should open a bank account in the name of your company, and the account should show a cash flow capable of taking on a business loan.

If you are a start-up owner or have plans of becoming one, we at TheGongzuo.com are eager to assist you. Our experts will provide you guidance regarding your financial or legal matters. Do contact us today! 

Know Your Rights, Ladies!

Women enjoy most freedoms today that men enjoy, and have joined the American work force in great numbers. But, discrimination against women still exists in the workplace in various forms. Women should know their rights as U.S. workers and take responsibility for helping to stop violations in the workplace.

Types of women’s rights:

• Title VII of Civil Rights Act of 1964 - It is illegal for employers to exclude qualified women from any available position. Women can sue a potential employer, if they feel he has excluded them from a position based on gender. 
• Equal Pay Act of 1963 – It states that employers must pay women the same amount they would pay a man in the same position. Women can sue their employers if they can prove that a male in the same position earns higher wages.
• Pregnancy Discrimination Act of 1978 – According to this Act, it’s illegal to discriminate against pregnant woman in the workplace. An employer cannot fire a woman or exclude her from a position due to pregnancy as long as she can perform satisfactorily. 
• Right against harassment - An employee of any company where a woman works may not sexually harass the woman in any way. Women should report offensive conduct such as jokes, name calling, physical assaults or threats, insults etc. to the Equal Employment Opportunity Commission or a supervisor.

Even though there are laws to protect the rights of working women, workplaces are far from equal.

• Women make 75 to 90 cents to every man’s dollar. 
• Under FMLA (Family and Medical Leave Act), women are eligible for 12 weeks of maternity leave. But, women working for a small company or those who have been employed for less than a year get only 8 weeks of maternity leave.
• Harassment complaints are ignored many times, because taking action is not a priority. 
• There are approximately 50% women in the workforce, but women aren’t getting 50% of leadership roles.

Nevertheless, America has come a long way to having the rights we enjoy today in the workplace. But, there is still significant room for improvement.

Dealing With Workplace Harassment

Workplace harassment and office bullying are unfortunately common incidents these days. It refers to any repeated, intentional behaviour directed at an employee that is intended to degrade, humiliate, embarrass, or otherwise undermine their performance. It can come from colleagues, supervisors, or management, and is a real problem for workers at all levels. It's no joke. By learning to recognize and address workplace bullying behaviour, you can help to create a healthier, more productive environment for yourself and your colleagues. 

What women can do

• Communicate your disapproval - If you can avoid the colleague who makes you uncomfortable, do so. If you have to work in close proximity to him, avoid being alone with him and tell him to stop his specific behaviour. If the person has sent you a joke through an email or SMS, reply through email or SMS when asking him to stop.
• Keep a record - If your colleague isn't getting the message, prepare to report him. Gather evidence to substantiate your claims. 'Note down the date, time and details of each incident. Save any emails or text messages that contain inappropriate language. Try to use your mobile phone recorder to discreetly record his remarks.
• Find a friend to share this information - Share the situation with a colleague you trust in the office. She may be able to keep a watchful eye on the situation. But be picky about who you share this information with, and ensure that this person is trustworthy. A senior colleague or mentor who carries more weight in the organisation would be ideal. 
• Formal complaint - If the above doesn't work, make a formal complaint to senior members of the organisation, with whatever evidence or notes you have. Make the complaint in writing and keep a copy. Remember an oral complaint can be hushed up. Often women don't report sexual harassment for fear they might lose their jobs, but unless you are willing to take action, your problem will persist.
• Contact EEOC - If your complaint does not result in your supervisor or senior manager taking action, you can file a charge with the Equal Employment Opportunity Commission (EEOC), which investigates sexual harassment incidents in the workplace. Inform the EEOC of your employer's name, the name of the offender and the details surrounding the incidents.
• File a lawsuit - After you file a complaint with the EEOC, you can possibly file a lawsuit. You can seek monetary damages, or try to get your job back if your employer fired you due to the incidents. If you plan to file a lawsuit, you should seek legal representation from an attorney who handles sexual harassment cases.

Tech Tools for Small Businesses

Starting a new business can be tough, as obstructions you never imagined crop up. Limited time, manpower, and budgets can all be a factor as the workload starts to pile up and the bills come rolling in. With the right tools, small businesses can reach their potential. Below is a list of tools that small business owners can utilize.

1. For organization and productivity – 

• Google Drive - lets you store and access your files anywhere--on the web, on your hard drive, or on the go.
• Trello – Visual project management system
• Expensify - financial services startup that provides an online expense management service for customers worldwide.
• Evernote - A suite of software and services that allow users to capture, organize, and find information across multiple platforms.

2. Cloud storage – 

• Dropbox - Provides a home for users' most-important information.
• Google Drive - lets you store and access your files anywhere -- on the Web, on your hard drive, or on the go.
• Apple’s iCloud - a mobile- and Web-based application that enables its users to store their information.
• Microsoft OneDrive - A storage application that enables users to store and share photos, videos, documents, and more.

3. CRM tools – 

• Salesforce - A global cloud computing company that develops CRM solutions and provides business software on a subscription basis.
• Act! -  To organize customer details, increase productivity, and drive results.
• SugarCRM - enables businesses to create extraordinary customer relationships with the most innovative CRM solution in the market.

4. Email marketing/marketing automation – 

• MailChimp - an email marketing service that helps businesses with newsletters, automated messages, and targeted campaigns.
• Constant Contact - provides email, social media, and event marketing tools to help small businesses grow their customer base.
• Emfluence - lets you create, deploy, and track multi-channel online marketing campaigns from one place.
• InfusionSoft - provides sales and marketing automation software for small businesses that combines CRM, email marketing, and e-commerce.

5. Social media and content tools – 

• TweetDeck - A Twitter tool for real-time tracking, organizing, and engaging on Web and mobile devices.
• Sprout Social - provides a platform for businesses to manage social media engagement, publishing, and analytics.
• Buffer App - helps users share social media content by scheduling online posts throughout the day.

Turn Your Expertise into a Business

Subject matter specialization is an important skill set to call someone an expert in something. If you are an expert in something and you want to convert it in to business, you need to be accepted for your expertise. People need to see you in action. They need to see results. And, people should decide to buy the product or service you are willing to create out of your expertise. You need to set a plan of action. And, as always it all starts with a well-planned business strategy.

Do you know enough?

You have an expertise and want to start a business. Do you know enough about the industry? With industry background and know-how, you’ll be ahead of the curve. If you have a great idea, but aren’t familiar enough with the field to get started, use your network, speak with people who’ve started businesses in your industry to help you get up to speed quickly. 

Surround yourself with people who share your idea

Hire people who share similar interests, if not passion! You can expect long work hours and hard days in the beginning, so personal drive and similar values with your colleagues will take you through initial turbulence. 

Business Funds

You need funds. Smart fund allocation and streamlined spending is crucial for any business process. In reality, any kind of skill set can be streamlined to produce regular profits. While quantity matters a great deal to produce regular profits in any business, quality is crucial to attract regular and loyal customers to your service. Successful businesses never compromise on quality.

Time

Quality is achieved by investing the required amount of time. You will never achieve anything by rushing. Consistent and scheduled work culture is crucial for the success of any business process. Overworking and under working are both harmful for any kind of business. Overworking can lead to attitude saturation and eventual productivity mess up. Under working can kill profits.

Easy ways to turn your expertise into a business:

• Consultancy services - If you have vast know-how and skills in a particular field, you can be paid lucratively by sharing your expertise with others. 
• Start a blog - If you have specialized knowledge about a particular topic, you can start a blog or a website on that subject. You can join affiliate programs or use advertisements to earn money from your blog/ website.
• Teach what you know - If you have vast knowledge about a particular topic, you can offer lessons at a fee. You can begin by teaching at seminars or hire yourself out as a tutor. 

Turning your expertise into a successful business not only allows you to be profitable while doing something you love; it helps set you up for lasting success. Most importantly, passion is central to making decisions that are in the long-term interest of the customer and the company, which will help you, establish sustainability and longevity for your brand.