The truth about successful entrepreneurs Posted 04/27/2016 by Mark Rowland & filed under Run your business. According to Start-up Britain, there have been 224,657 businesses created this year. It’s never been easier to set up a business, and younger generations are taking advantage of this. Analysis by Simply Business found that the fastest growing age groups for small business owners were 18-24 and 25-34. “We’re seeing this generational shift where entrepreneurship and becoming self-employed is now a viable career alternative,” says Gary Turner, managing director of Xero UK. It was really hard to set up a business 20 years ago. Now it’s a lifestyle choice.” According to a study by Xero, these new entrepreneurs don’t always display the values and traits that we expect business owners to have. Here are some of the traits that modern business owners share: 1. They don’t work all hours While the stereotype of an entrepreneur is someone that is driven to work all hours in pursuit of success, modern small business owners actually value their free time and make sure they keep their evenings free – 58% said that spending time with family every night is crucial to ensure their effectiveness as a business owner. Over half also said that it was important to keep weekends work free. However, just 28% said they would switch off their phones and laptops during downtime, so most are not completely disconnected from their businesses when putting the kids to bed. “What’s the point of success if you’re not enjoying it?” says Dr Robert Holden of the Happiness Project. “Those that step away, switch off and make time for the people they love are most likely to be successful.” 2. They ask for help A third of successful entrepreneurs say they have called upon a mentor, an online group or other entrepreneurs to help them get their business established. “Your support network doesn’t need to be exclusively focused on the industry you operate in. I’ve seen many entrepreneurs gather together informal ‘boards’ with participants drawn from all walks of life,” says Porter Gale, author of Your Network is your net worth. 3. Technology and marketing are their biggest spends Half of successful business owners surveyed said that they spent money on advertising, social media and PR, while 58% have invested in software to help improve the way they run their business 4. They maintain a healthy bottom line Financial issues such as cashflow or access to capital was the biggest reason for businesses failing– 65% of failed entrepreneurs said financial mismanagement was the main reason why their companies failed. “In terms of survival rates, the businesses that are investing in software to manage their finances and are looking to run themselves properly are much more likely to survive,” says Gary Turner. 5. They are more likely to sell services Almost two-thirds of successful business owners surveyed sold services over products. On the flip side, 41% of failed companies sold products, and only 19% of product-based companies considered them successful.
How to be a master negotiator Posted 04/26/2016 by Nick Levine & filed under Career, Negotiation. Being a strong negotiator helps you succeed in your professional and personal life, creating beneficial outcomes that allow you to get what you want. This can include earning more money, strengthening relationships and holding more gravitas with the stakeholders you engage with. Many people aren’t naturally gifted with the communication techniques needed for negotiation but can easily develop these skills through preparation and practice. Preparation is key Entering into a negotiation is similar to going into a battle. Make sure that you gather as much information as possible so that you have stronger bargaining power. Having a bird’s eye of the battleground allows you to weigh and consider a;; the available options. Always consider the worst offer that you would accept before reneging on any type of agreement. It is important that you’ve decided this in advance so that you don’t agree to a deal which is not in your best interest. Don’t talk too much Make sure to keep your cards close to your chest so that the other party has little knowledge about your priorities and non-negotiables. Letting the other side talk without interruption, will let them reveal their motivations, desires and intended outcomes, without having to reveal any such information yourself. Listening intently to their reasoning, and asking follow up and open ended questions, will allow you to work out how best to structure an opportunity which seemingly meets their needs, but also results in the best possible outcome for yourself. Set deadlines Setting deadlines is a common tactic of seasoned sales professionals to close a deal within a specific period of time. They will frequently pique your interest with a “too good to be true offer” but will insist that this is only valid for a limited time. Frequently these will be around periods during which they have to hit certain targets such as month end or quarter end. Setting a deadline gives the other party limited room to manoeuvre, and allows you to take control by defining the terms. Another benefit of setting deadlines is that this will force the other party to offer their best proposal, or accept yours, rather than holding back in the hope of a better offer in the future. Be prepared to walk away “You have to persuade yourself that you don’t care what happens. If you don’t care you’ve won.” – Felix Dennis, founder of Dennis Publishing, Inc Magazine, 2011 It may seem counter-intuitive when trying to close a deal but the best negotiators are always prepared to walk away. If you look too desperate for a particular outcome, and this becomes known to the other side, you risk accepting a less favourable deal. Empathy This non aggressive tactic, commonly used by the FBI when negotiating hostage rescues, allows someone to become susceptible to influence. It is possible to build rapport with the other side by being an active listener, and being in tune with their feelings and motives. This will help build trust, and will make the other party more willing to listen to and accept what you are offering. Body language Research from UCLA shows that only 7% of communication is verbal, with 38% being represented by your voice, and body language dominating with 55%. Making increased efforts to gesticulate, by moving your hands and your body will result in you coming across as being more interesting and persuasive, and will create the impression of passion. This is not just a useful tactic to use when meeting people face to face. Deploying this tactic when on the telephone, will result in people being able to hear the effect that gesticulations have on the intonations and expressiveness of your voice.
Personal service company update Posted 04/26/2016 by Dean Wootten FCA CTA & filed under Accountancy resources, Tax. Many individuals form a company through which they operate. The company invoices the end client for work done by the individual and then the individual extracts profit from their ‘intermediary company’ by way of low salary, high dividend, with the dividend often being shared between shareholding spouses. However, where the individual, or his family, control more than 5% of the company then the personal service company regime needs to be considered. To decide whether this regime applies, the individual needs to ignore the intermediary company and ask whether their relationship with the end customer is one of an employee or office holder? If it is, then any income from relevant engagements not paid out as salary is treated as a “deemed salary”. This deemed salary is treated as if paid out as salary to the individual on 5 April with PAYE and NIC falling due. The net effect of the rules is to reclassify dividend as salary thus reducing the savings from the intended low salary, high dividend extraction route. Deemed salary calculation The calculation of deemed salary is done at the end of the tax year as follows: Income from relevant engagements (invoices where employee/ office holder relationship exists) A Less: 5% automatic deduction (B) C Less: Expenses paid by employer allowable as deductions from earnings if paid by an employee (D) Less: Employer pension contributions (E) Less: Employers NIC on workers actual salary and benefits (Class 1 and 1A) (F) Less: Actual salary and benefits paid (G) Gross deemed payment H Less: Employers NIC on gross payment (H × 13.8/113.8) (I) Net deemed payment (Deemed gross salary) J Points to note Remember it is only the income from relevant engagements that are included in the net deemed salary calculation, so only where the employee/ office holder relationship exists. This income is subject to PAYE and national insurance that must be paid over to HMRC no later than 19 April, or 22 April if the payment is made electronically. It is possible to make a provisional PAYE/ NI payment with any adjustments being reported via an Earlier Year Update submitted electronically to HMRC before the following 31 January. Unfortunately, the £2,000 employment allowance is not available against the deemed salary secondary NIC. Corporation tax implications for the intermediary company All income invoiced will form part of the company’s taxable profits while the deemed gross payment, plus employers NI, is deductible in arriving at the intermediary company’s taxable profits. Deduction is allowed in the period in which the deemed payment is treated as made so, for a company with a 31 December year-end, the 5 April 2016 deemed payment is deductible in the year to 31 December 2016. If dividends are paid, then there is a risk of double counting the income as both salary and dividends. If dividends are paid then the intermediary company needs to make a claim to set the deemed payments against the dividends paid (ITEPA 2003 s.58). If you are caught by the personal service company rules, it is much easier to stop drawing the dividends and take a salary instead. What’s new? With effect from 6 April 2016, measures will be introduced which restrict the ability of certain temporary workers to claim relief from tax and National Insurance Contributions on expenses incurred in relation to home-to-work commuting. The intention is to ensure that such workers are subject to the established principle that relief is not applicable to travel between a worker’s home and his/her permanent workplace (as opposed to a temporary workplace, where relief is available). New ITEPA 2003 s 339A is to provide that, in the case of workers who personally provide their skills or labour through an “employment intermediary” (broadly an umbrella company, recruitment agency or employment business), each engagement is to be regarded as a separate employment for the purpose of the travel and subsistence expenses rules, so that each workplace will be treated as a permanent workplace. Thus, daily commuting by such workers will be regarded as ordinary home-to-work commuting and will not qualify for relief. The measure does not, however, apply to a worker whose services are not subject to supervision, direction or control by another person. The measure also applies to a worker operating through a personal service company which is required to operate the so-called IR35 legislation under contracts where a deemed employment payment is made, or would be made were the worker not receiving all his/her income in the form of employment income. The “supervision, direction or control” provision does not apply in such cases. So the key is to make sure that you are not caught by IR35 by ensuring that contracts are drawn up carefully, containing the key characteristics of self-employment, especially an effective substitution clause.
What accountants can teach Bear Grylls about desert island survival Posted 04/22/2016 by Nick Levine & filed under News. “Survival can be summed up in three words – never give up. That’s the heart of it really. Just keep trying.” – Bear Grylls, British Adventurer. If you have been watching Grylls’s The Island, you may have questioned the producers decision to use an accountant as one of the contestants. At first glance it is easy to assume that accountants will be of little use on a desert island, due to being more known for their brain power and soft skills rather than more practical attributes associated with survival such as being able to chop wood and start fires. However, contrarily, the rigorous training and work experience of accountants arms them with a Swiss army knife of skills, which allows them to mediate, problem solve and demonstrate leadership skills. In this post we detail a number of compelling reasons why accountants are the perfect companions to have on a desert island, and how they can teach Mr Grylls a thing or two about survival. Persistence Accountants are able to demonstrate persistence and rigour when earning their professional qualifications by committing themselves to working full time, as well as finding the time to study. This takes a lot of commitment, as most people do not have the desire or aptitude to read study guides and practice exam questions in the evenings and weekends. This determination is likely to come in handy due to the long, gruelling and uncertain period of time during occupancy on a desert island prior to the inevitable rescue. Adaptable No single day on a desert island is likely to be the same, with inhabitants constantly having to tackle fresh challenges such as dealing with severe weather conditions and broken equipment. Accountants are adaptable by their nature, due to having to deal with new tax legislation every April. The ability of accountants to recalculate tax efficient income for business owners every tax year, and deal with the impending changes to dividend taxation, means that they are able to change tact regularly and with ease. Prudent Resources on a desert island are scarce. Inhabitants need to share and ration food equitably in order to maximise survival rates. This is a task which accountants have a natural flair for due to the management of island food being not too dissimilar to a stock take. Having a prudent finance professional in charge will result in minimal wastage, fair distribution and accurate valuation of remaining stock. Additionally, due to their professional integrity they will be able to safeguard these precious assets. Mentor/Training In order to stand the best chance of survival it is crucial that younger residents on desert islands skill up to help manage collective responsibility, and take over from older individuals who may fall ill or suffer through the ageing process. Accountants are likely to help manage this process due to the self-supporting nature of accounting firms and finance teams, which result in more senior members of staff coaching youngers ones to pass on responsibilities and help them progress within their careers. Communication Skills The importance of communication on desert islands is best symbolised by the use of the conch shell, in Lord of the Flies. In William Golding’s novel, the residents of the island have to resort to only allowing the holder of the shell to talk at large gatherings, due to a number of individuals trying to speak at the same time. Modern accountants are increasingly demonstrating well-honed communication skills due to innovations in accounting software resulting in an increased focus on client management and advisory services, at the expense of more routine bookkeeping and compliance work. This shift means that accountants are likely to be able to mediate and manage the expectations of a large and diverse group. Additionally, accountants with audit experience will be able to document large collective meetings on the island by taking minutes on abandoned tree bark. Leadership Being able to work towards a common goal on a desert island, notably survival requires strong leadership and vision. Accountants tend to be strong leaders, due to their general desire to progress professionally and their inclination for picking up professional qualifications. Most businesses will have an accountant forming part of their executive leadership team. Recent research revealed that 84% of FTSE 100 companies have a Chartered Accountant on their board. Having an accountant lead from the front is likely to rally desert island inhabits towards their basest instinct to survive.
400 years on – how the Bard continues to influence Britain’s workplaces Posted 04/21/2016 by Adam Harwood & filed under News. Saturday will mark the 400th anniversary of the death of one of Britain’s most famous literary geniuses, William Shakespeare. What is somewhat less known is that Shakespeare is credited with coining over 1700 words that are now in use in English, generally through changing nouns into verbs and verbs into adjectives, connecting existing words and, in some cases, coming up with wholly new creations. To mark the occasion, we have selected five words that the playwright brought into our language which are heard up and down businesses throughout the UK on a daily basis: 1. Compromise (first found in The Merchant of Venice, Act 1, Scene 3) First uttered by Shylock who declared “mark what Jacob did when Laban and himself were compromised”, there are few businesses – from start-ups right through to multinationals arranging major deals – that can make many decisions without some degree of compromise being reached. 2. Negotiate (Much Ado about Nothing, Act 2, Scene 1) Derived from the Latin negotium – literally meaning ‘business’, neg standing for ‘not’ and otium meaning ‘leisure’ – Shakespeare moved the word into its current meaning of ‘done in the course of business’ through the character of Claudio, when saying “Let every eye negotiate for itself and trust no agent”. Now, of course, almost every aspect of business involves some degree of negotiation skills. 3. Advertising (Measure for Measure, Act 5, Scene 1) Few businesses will get very far without making some investment into advertising, and Duke Vincento recognises its power at an early stage, suggesting to Isabella “Your friar is now your prince: as I was then advertising and holy to your business.” Little could the Duke have realised that advertising – both holy and unholy – is now worth an estimated £420 billion worldwide. 4. Champion (Macbeth, Act 3 Scene 1) Businesses seek to be champions in their own field while many encourage employees to take on championing roles – be that to support local communities, charities or even their fellow workers. But ‘champion’ began life in a much more sinister fashion. Macbeth himself calls upon fate to “champion me to the utterance!” essentially asking death to be his champion against Banquo, who is murdered before the scene ends. 5. Marketable (As you Like It, Act 1, Scene 2) This first appeared during a conversation between Rosalind and Celia, with the latter responding to Rosalind’s concern that “We shall be news-crammed” with the retort “All the better, we shall be the more marketable.” Now the word stands for the idea to make a business successfully generate revenue. A version of this article first appeared in Workplace Insight
The introvert’s guide to business Posted 04/20/2016 by Jen Smith & filed under Run your business. If you’ve dreams of being your own boss, having flexible lifestyle and running your own business, but are worried that your introverted personality type might let you down, I’m going to help you see things in a new light today with this introverts guide to business. Because introverts make excellent business owners. History proves it, and the countless friends, colleagues, clients and service providers I hire who are introverts prove it too. They’re some of the best business owner’s I’ve met. What you might consider as weaknesses are actually your greatest strength. Here’s what I mean: 1. You aren’t particularly loud or like dominating conversations = you’re a great listener In business, the customer wants to be heard and understood. They want to know that the company or person they’re working with really gets them and takes on board what they’re saying and how they’re feeling. As a great listener, you’ve an advantage over other types who just want to talk about themselves, and their products and services. Customers will be compelled by the fact that you took the time to really hear them, and help them. 2. You’re independent = you don’t need anyone else to succeed Introverts tend to be very self sufficient and able to get on with doing things without the need for constant support. You need to be independent and self-reliant when starting and running a business, and you’ll know only too well that it’s down to you to make it happen. 3. You’re not thrilled about public speaking or networking = online networking comes naturally There’s this myth flying around the business world that you absolutely have to do networking or public speaking to grow your business – and that’s a scary prospect for someone that gets drained by being in those situations and doesn’t relish them. But what I’ve found with introverted entrepreneurs is that they thrive on social media. They find the online world far more comfortable and are able to embrace it much quicker. And in this day and age, that’s a real boon for your business. 4. You’re not driven by flashy goals or targets = you focus on what’s really important Introverts tend to enjoy the simple things in life. A good book under a blanket, a walk in the woods, coffee with a good friend. Whilst you might not see yourself as the ambitious type, in that you’re not chasing flashy things and partying, that helps you really focus on what’s important. Don’t feel you have to be always motivated by money or material goods to be successful… actually those business owners who’re focusing on making a difference, and driven by purpose are becoming increasingly valued by customers and clients who’re tired of the commercialism in this world. And that’s not to say you can’t also be hugely profitable. Some of the best purpose driven businesses are very successful – take Toms shoes for example. 5. You take things to heart = you’re conscientious and always looking to improve One of the biggest things my introverted business friends worry about it how much they take negative feedback to heart. But in business, you’re going to get feedback that’s not all rosey, and customer complaining or asking for refunds. That’s business. You being so conscientious is such an asset – because you’ll look for ways to ensure you don’t have those experiences with your clients and customers in the first place, and if you do, you’ll do what you can to make it right. Both these things combined help make a great experience for your customers, and keep them coming back for more. 6. You need a lot of downtime = you don’t get burnt out Introverts, although are often misunderstood as very shy types, usually find they need to recharge after social situations or after busy periods. They’re good at taking that time for themselves because they know they can’t function properly without it. This is a good thing! Too many entrepreneurs struggle to switch off or take time out which leads to burnout and sloppy decision making or work. You may feel a twinge of guilt taking the day off after a big event or finishing up a project, but it’ll help you be more refreshed and raring to go for the next client, project or customer. So much of what we think is our greatest downfall is actually our greatest asset in life, if only we’d see it from a different perspective. I hope this guide has helped you see that what you might consider a problem is actually something really valuable you can bring to the table. In this day and age we’re so lucky to be able to do business our way. Build a business that supports how you like to work, and you’ll have no trouble competing with the extroverts out there!
Why are we “making tax digital” when HMRC can’t even answer the phone? Posted 04/19/2016 by Michael Steed & filed under Making Tax Digital. In the spring Budget 2015, George Osborne expounded his vision for a digitally transformed tax system and the end of the annual tax return. Around the same time, the Treasury published a document, Making Tax Easier: The End of the Tax Return, which announced the introduction of digital accounts for millions of individuals and small businesses. The document claimed taxpayers will be able to “understand quickly and easily what they need to pay – without ever having to complete a tax return again”. The document went on: “This is a big leap forward in modernising our tax system, putting good customer service at its heart, and making it as easy as possible for individuals and businesses to pay the right tax at the right time.” Then, in December 2015, a more detailed document covering the same ground, Making Tax Digital, was published. Note the change of language: the reference to the concept of making tax easier had been dropped! Ulterior motives I buy into the concept that we are in the midst of a digital revolution, and there’s no reason why we shouldn’t bring tax in line with that. But it’s not just about making the digital platform more central to the tax system – there’s something else going on and, having talked to HMRC and the Treasury in my role as ATT president, I’ve got a sense of what it is. Ministers are worried about the so-called ‘tax gap’. This is the difference between what HMRC actually collects and what it thinks should be collected. Based on the most recent figures, for 2013-14 the gap is about £34bn. If you look at the figures carefully, quite a bit of the gap is down to SMEs (about £16.5bn) and individuals (about £2.9bn). The taxes at stake are primarily income tax, national insurance contributions and capital gains tax (together about £14bn), and VAT (about £13.1bn). So here’s the dilemma for ministers: they are politically committed to making tax easier for small businesses, but they also need to introduce extra measure to close the tax gap. HMRC has been given the task. The Making Tax Digital document says: “HMRC will collect and process information affecting tax in as close to real time as possible to stop tax due or repayments owed from building up. From April 2018, businesses, including everyone who is self-employed and those letting out property, will update HMRC at least quarterly, where it is their main source of income (or a secondary source of income above £10,000 and their main income is from employment or a pension).” This is the bit that I don’t get. If the government wants to make tax easier (by removing the need for an annual tax return), how is that achieved by making small businesses and individuals report at least quarterly? The only explanation in my mind is that, under pressure to close the tax gap, quarterly reporting appears to be part of the way home. I don’t think either HMRC or the Treasury knows what quarterly reporting will actually look like. When they have a better idea, no doubt they will share it with us, as both AAT and ATT are helping them shape that vision. However, the bit that’s missing, in my opinion, is not quarterly reporting – it’s quarterly payment. This is the element that will bind everything together and help close the tax gap. One without the other doesn’t add up. Room for improvement Let’s hope that digital accounts work better than access to HMRC’s online services did on 9 January this year – right in the middle of the tax-return month from hell – when hundreds of agents couldn’t get onto HMRC’s online services through the front page of the HMRC website. It had been changed to deny agents access, without notice. This was then compounded when the HMRC online services helpdesk said that it had not been told of the changes and was having to deal with a flood of complaints. Yes, the problem got fixed over the next few days, but this is the sort of service delivery that lets HMRC down. So here’s my message to HMRC: get your own house in order before you go careening down the pathway of further change.
How to make e-learning work for you Posted 04/18/2016 by Amanda Healey-Browne & filed under AAT news, News. Have you ever Googled ‘how to change a tyre’ or even ‘how to boil an egg’ and followed the step-by-step videos on YouTube to find your way? Well, whether deliberate or not, at that moment in time you engaged in electronic learning or e-learning. What is e-learning? So, what exactly is e-learning? Simply put, e-learning is any type of learning that is delivered partially or fully through electronic media such as webinars,videos, interactive lessons and podcasts. In the past, many thought bringing technology into the classroom could take away the human contact some learners need, however as technology has advanced, we increasingly find ourselves embracing tablets and smartphones in and outside the classroom. What are the benefits of e-learning? E-learning allows students to tackle a subject at their own pace with interactive tasks. As with any subject, for some, a particular subject could be a breeze whilst for others it could take more work. Either way, e-learning is structured to help you learn at your pace. Moreover, by removing the necessity to print out materials, or travel to a classroom, e- learning is a cost-effective and an environmentally friendly way to learn. E-learning offers students the flexibility to learn anywhere, any time. With e-learning, the commute or the lounge room can become your classroom. How does e-learning help you study? Utilising e-learning allows you to supplement the lectures and workshops at a college or training provider to create your own tailored learning program. Did you know? AAT has a range of e-learning which has been designed to complement the tuition delivered by our training providers. It focuses on the most important and difficult topics within a particular learning area. Training providers can use these resources within their own courses, but most importantly, you can access them whenever and wherever they like. AAT currently develop two types of e-learning: 1. E-learning modules – activity based online modules which demonstrate key concepts/skills and provide students with the opportunity to work through guided examples 2. Green Light tests – objective test questions that help a student identify their strengths and weaknesses, and to gauge their level of preparation for the assessment. How to make e-learning work for you Before going in to your class, review the topic using AAT e-learning modules 1. Take a Green Light test to test the gaps in your knowledge. The Green Light test is now also optimised for mobile 2. Download our e-learning modules to your tablet to use when you are on the go 3. Use the Green Light dashboard to keep track of your progress and scores 4. Check with your friends what their scores are – can you beat them? The numbers that count AAT provides 115 Green Light tests and 147 e-learning modules for student members. On average there are 51,218 Green Light tests taken each month and over 74,000 views of AAT e-learning modules across all four levels. To get the most of our the AAT e-learning, go to Study Support Search – Remember, everyone has an individual learning style that they find more effective. Some of us prefer to learn by doing with hands-on activities, others like to learn visually with graphics and charts whereas some prefer to be left alone with a good book. On the other hand, much of one thing may also get dull, so varying what you do and how you do it may really help keep you motivated. Find out what type of learner you are and tailor your own learning.
The top 7 interview questions and how to ace them Posted 04/18/2016 by Georgina Fuller & filed under Interview tips. Having an hour or less to prove your worth to a complete stranger can be nerve-wracking for even the most confident job-seeker. Here are our top tips on some of the questions you are most likely to be asked and how to ace them. 1. How much do you know about the company and/or the role? You don’t have to have spent hours trawling through the company website and reports to answer this question but you definitely shouldn’t be too vague, says Karen Meager, managing director of Monkey Puzzle Training & Consultancy. “Do a bit of research on the company and pick out three of four facts that you find interesting, such as who their biggest or quirkiest customers are and what their most impressive achievement was last year.” 2. Why are you leaving your current job? If you’re applying for a new job, this is a question that will be almost certainly be asked. Make sure you are as positive as possible and don’t say anything negative about your current employer, advises Seamus Breslin, managing director of Solas Consulting. “Instead focus on the position your applying for by mentioning why you want to work for the company and that you’ve learned all that you can in current job and ready to move on.” 3. Are you a team player or do you work best on your own? “Don’t say ‘I can do both’. Everyone says this. Instead think of a way of being clear about your preference and in what circumstances you prefer to work on your own,” advises Meager. Think about what the job requires. “Good examples include ‘I concentrate best when I don’t have interruptions so I probably work best alone for focused work, but I like to run my ideas past others so like to have a way of being able to share and discuss ideas as well,’” says Meager. This indicates that you can do both but is more specific and demonstrates that you’ve thought it through. 4. What are your strengths? Firstly, know what your strengths are and, if in doubt, ask your friends and colleagues as they often know better than you. Look at the role and think about how those strengths support that role. Then, says Meager, you can talk about what you do well in a way that the interviewer can relate to the role. “If you talk about your fine customer service skills for an analytical role that won’t help you. Instead, talk about your attention to detail and problem solving abilities.” 5. What’s your biggest weakness? The common misconception with this question is believing that the interviewer actually wants to know what your weakness is and use it against you, says Chris Platts, founder of Talent Rocket recruitment platform and ThriveMap. “Although there are always some bad interviewers that may be looking for ways to trip you up, the primary reason most people ask this question is to see if you can demonstrate a satisfactory level of self-awareness,” he notes. “Answer it honestly, but professionally and make sure you can explain what you’ve been doing to improve your weak spots to demonstrate a willingness to address frailties and not just play to your strengths.” 6. Why should I hire you? This is all about matching your skills and experience to the job requirements so make sure you read the job description thoroughly and pull out specific, tangible examples of when you’ve demonstrated the skills required to do the task. “You also need to demonstrate you’re potentially a good culture fit with the company,” says Platts. “Research the company values and give tangible examples of why they resonate with you. If the company values collaboration, tell them how you’ve been a team player both within the context of work but also in extra-curricular activities such as sports, music or hobbies.” Finally, convince them that you’re the type of person that gets stuff done. “It’s easy to sell your ability in an interview with confidence; it’s harder to give tangible examples of executing on a plan, going the extra mile and exceeding expectations,” says Platts. 7. Do you have any questions for me? This is by far the most important question you’ll get asked at interview and your chance to leave a lasting impression, says Platts. “Make a list of the questions you want to ask ahead of the interview and take it with you. Be clear in understanding the responses, demonstrating that you have a strong attention to detail. Don’t just ask about the role, location and pay. Try to understand the culture of the company. Ask questions such as “how do people work together?” and “what’s great about working here and what’s not so great?”’
Is casual dress killing our productivity? Posted 04/15/2016 by Aggie Goss & filed under Career. I’m working from home today doing my primary job as a lawyer and I wore two changes of clothes while working. First, my pyjamas and then a comfy pair of denim joggers and a black tee. My face is bare and my short hair (which needs a fair amount of product to make it look presentable) is pinned back with bobby pins. I wouldn’t meet a client in either of these two outfits, and yet I am actually wearing them to work. The question playing on my mind is this – is dressing casually while working from home killing my productivity? I find this question interesting, because I have never really thought about it until recently when I was asked by a colleague. There are so many other things that can kill productivity for me, both in the office and out of it, and my outfit features fairly low on that list. Having said this, I do dress “for my day”; not just in terms of client meetings, but in ensuring that I can get through those long 12+ hour days that come up fairly regularly in my job. When I know I have one of those days looming, I’ll dress as comfortably as I can get away with – relaxed tailored pants, tee and flat shoes, with a blazer if I need to be presentable, giant cardigan if I don’t. So does that mean that casual dress leads to more productivity for me? I’m not sure about that either, it’s just so hard to make the connection. But it does make the long days easier, no doubt about it. And on a day working from home I usually find myself literally rolling out of bed and logging on in the space of minutes. This capitalises on maximum sleep balanced with no commute to create additional uninterrupted work time while still retaining some ‘me’ time during the day. Days like this can have the perfect flow. If I can’t settle this debate through my own experiences, what do others think? I consulted a number of friends who regularly work from home. To be fair, each of them has an office they also attend regularly, they own proper office wear and, in the case of the women, stiletto heels for those important client and internal meetings. That is to say, a day working from home is regular but not every day. A couple of them told me that they take the same approach as I do – wear whatever they are wearing when they need to do the work – in their case it’s often running gear. I asked if they thought they were less productive in casual outfits and the answer was an unequivocal no. On the contrary, the ability to work without wasting time putting together an outfit is seen as a huge bonus. Another lawyer friend told me that she saves her heavy legal drafting for days when she can do it from home and she works wearing her oldest tracksuit pants and holey tee. On the flipside, a fourth friend said that she always dresses casually, but can’t think until she has put on ‘her face’, as this is the step that signals that she is on duty. Interesting… a small ritual to get into your work zone. This small ritual thing came up again, but interestingly, not in relation to clothing but the work space. The theme was this – the space needs to be cleared and prepared for work, it’s harder to be productive if the table is covered in breakfast dishes, magazines, kids’ toys and other symbols of everyday life. So can we extrapolate how best to boost productivity through a work from home outfit? I think it’s difficult to do so because we are all different. But here are some things to consider – what is it that you enjoy about working from home? If it’s the ability to work uninterrupted in your own space on your own time, then your outfit probably won’t matter all that much. Rather ensuring that you are using your time in the best possible way should be the focus. But if you need a signal that you are now at work, then work out what you need to do (or wear) to best create it. If you need to go through your daily grooming routine before you log on, then do it. Experiment to see if it creates a more efficient and satisfying day for you. Maybe a work-from-home routine is just the ticket for you, and what have you got to lose in trying right?