Rethink Your Career Transition

The traditional “think, plan, do” linear sequence works well for job changers but sucks for career changers. Career changers need an iterative process that lets you refine what you want as you do as you go through it. Read on to learn about the three step iterative process for career changers.

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Are you going nowhere in your career? If you’ve decided it’s time to change your career completely, here’s a new way of changing!

Before you jump ship, think about what’s been happening in your career. Have you been making little or no progress for some time? You may be in the throes of what George Leonard, author of Mastery, calls the “plateau”. Leonard argues that we master something with a series of one intense upward growth spurt followed by a long period of nearly flat growth – a plateau. In this age of “what have you done for me lately”, you may have just tired of being on the plateau. Before you chuck your old career, decide whether it no longer works for you or whether you’ve just tired of being on the plateau. If you’ve decided to change careers completely, read on!

So you’ve decided to jump, eh? Well, you’ve got two choices of how to do it. First is the traditional “think, plan, do” linear sequence we’ve all been taught by career counselors and well-meaning family members. If you’re just changing jobs within a career field, this strategy should work fine for you. But it sucks for career changers and here’s why! We get much of our identity from what we do; just ask anyone about himself or herself. What does she or he tell you first? I’m a ___________ (fill in the blank here – doctor, lawyer, Indian chief.) We get that identity by what we’ve done in our careers. In my experience hiring hundreds of folks for law firms, interviewers are skeptical of “career changers”. Hiring is a costly and time-consuming process, and interviewers don’t want to do it any more than necessary nor take unnecessary risks. You’ve got to convince them that hiring you makes sense, and to tell a convincing story requires that you’ve convinced yourself the change makes sense. It’s hard to convince yourself you can do if you haven’t done it.

So how do you present a prospective employer with a risk worth taking? Use the second option for career changing – an iterative process. Ok, you say, I’ll bite. What’s an iterative process?

Merriam Webster’s dictionary describes it as a repetitive process that yields results successively closer to the desired result, which is clarified as a result of the process. So take heart, all those who want something different but don’t know exactly what it is – the iterative process comes to your rescue.

So what does an iterative career shifting process look like? Herminia Ibarra describes a three-step strategy in her book, Working Identity, Unconventional Strategies for Reinventing Your Career. First, create experiments. Stephen Covey once said we can’t talk our way out of a situation we behaved our way into. Since our identities are defined by what we do, we need to pick some possible, alternative career identities and find activities that allow us to try these identities on for size. If they fit well, we can delve more deeply into them. If they fit poorly, we can put them back on the rack and try another.

Second, shift connections. Your working identity is also defined by your web of relationships in work and family life. Your current co-workers, bosses, family members, suppliers and customers all have vested interests in having you remain unchanged. Talk with any of them about a new career, and they’ll steer you toward a slightly modified version of what you’re doing now – not a career shift.

So, you’ll need to meet new people in your experimental fields. Go on informational interviews. Write to authors in your new field and engage them in conversation. Investigate trade or professional associations in your new field, or talk with college professors who teach that subject. Use your imagination to find new people for your network. Since who you are is defined by the company you keep, you need to meet new people to guide and help you shape your career experiments successfully.

Third, revise your life story so it’s compelling and coherent. Revising your life story involves revising your resume and story you’ll tell during informational and job interviews. You need this revised story for two reasons. 1. To convince yourself during a time of turmoil and confusion that your career change makes sense; and 2. To convince a prospective employer that hiring you is worth the risk.

A good story is like a good movie. Good movies cause you to “suspend your disbelief”. You care about the character, believe in him or her and relate to the struggle he or she is going through. You watch with bated breath as the protagonist struggles against obstacles that cause fundamental changes in character. You believe in the character as he or she reaches the point of no return and resolves his or her struggle, either successfully or unsuccessfully. You care and you believe in them.

How do you suspend your interviewer’s disbelief? By making your story compelling and convincing. Demonstrate to your interviewer that your transformation is complete and sensible. Explain the internal reasons for your career change, for example, I changed to do something I’m really good at or that I really enjoy. Show how you’ve learned from what you’ve tried and how you used that learning to deepen your understanding of yourself. It’s best to avoid external reasons (i.e. I was fired or laid off) to avoid the impression that you simply accept fate rather than actively shape it.

Cite as many reasons for your change as you can, and point out any explanations that have deeply rooted causes. Family or financial circumstances may have prevented you from realizing a goal from long ago. Persevering and overcoming obstacles are attractive qualities to employers.

Show continuity and causality – a natural series of unfolding events that make sense. Connect your past work life to your present situation and project it out into the future. Tell your story so that the obstacles you’ve overcome and what you’ve learned about your character inspire your prospective employer to believe in your motives, character and ability to reach your goals. Tell it so they can see you doing the same things for them!

No matter how you cut it, change is messy, and career change is no exception. Margaret Wheatley and Myron Kellner-Rogers, in A Simpler Way, share that life uses messes to get to well-ordered solutions. But messes don’t feel very good while you’re in the midst of them!

That’s where professional help comes in. A broad shoulder to lean on when you need it. A productive mind to help you brainstorm experiments and shifting connections. A capable life story editor to help make your story compelling and convincing. If you know you need a change, but don’t feel comfortable going it alone, contact a career coach!

Invoice Discounting For E-Commerce & Retail Industry

India has experienced remarkable growth in both retail and e-commerce industries over recent years. India was predicted in 2017 that revenue generated for these sectors would increase from US$ 39 billion in 2017 to US$ 120 billion by 2020; marking 51% annual growth. No other country can boast this achievement!

India has one of the highest penetrations rates for online retail market segments, but customers are now showing greater preference towards purchasing other products through e-retail platforms – leading to an increase in products to meet customers’ various demands.

Retail and e-commerce industries face many obstacles in managing daily operations and clearing unpaid invoices, necessitating quick access to working capital. Invoice discounting provides quick relief by freeing up cash sitting in unpaid invoices – retailers and e-commerce alike need products from their suppliers, while suppliers often wait 30 to 90 days for payment; other hurdles could include upfront payment to sellers, delayed receivables, prolonged and delayed payment cycles, high overhead costs and operational inefficiency that might further complicate matters further.

What is invoice discounting?
Vendors or merchants that receive bills receivable from clients usually honour them after an agreed upon period, creating a time lag between delivery of goods and payments being received. To combat this situation, vendors can take their approved bill receivable to any participating bank or financial institution to get discounted or sell at a discount for cash up-front.

Invoice discounting is the process by which businesses leverage receivables to secure short-term funding needs. Small and midsized companies issue invoices against larger corporations (blue-chip companies), often for services provided or products supplied, to avoid delays. They bring these invoices directly to one of several invoice discounting service platforms where within 1-2 days they are converted into funds at a discount rate that varies based on risk analysis, market acceptability and tenure (typically 30-150 days).

How does invoice discounting benefit retail and e-commerce companies?

Invoice discounting services provide multiple advantages to retail and e-commerce industries.

Unlock trapped cash by clearing unpaid delivery invoices: Enjoy hassle-free working capital within 24-72 hours of clearing unpaid invoices, increase cash flow with no collateral policy, and keep inventories updated by making optimal use of unpaid invoices.

Manage Your Supply Chain Efficiently: By fulfilling orders quickly with access to working capital at all times and running an efficient supply chain from retailers to suppliers resulting in improved customer satisfaction, your supply chain should function at peak performance.

Use quick access to liquidity to accelerate business expansion: Increase orders through timely payments leading to more orders, which in turn increase sales resulting in business expansion, whilst simultaneously expanding your reach by connecting with larger retailers or online marketplaces that fulfil orders more efficiently.

How does invoice discounting work?
Retailer raises an invoice of the customer payable within 30 – 90 days

The unpaid invoices are uploaded on the Falcon Invoice Discounting platform post KYC and verification.

The retailer gets fund credited to the account within 24 – 72 hours.

How are invoices settled, and why is this necessary?
Deferred credit transactions have become an increasingly common way of conducting transactions. For instance, when businesses sell goods or provide services to their clients they often offer payment terms of 90-120 days as part of an invoice agreement. Businesses often outsource invoice payments to third-party financing companies that buy the accounts receivable from them. On acceptance, the finance company agrees to pay a specified percentage of the face value (often 80 percent) less interest charges for credit periods (such as 60 days). When customers make their payments, any balance due will be returned back to businesses by deducting a service fee and issued exchange vouchers in accordance with the Negotiable Instrument Act 1881.

An invoice discounting financing solution provides a way to bridge the credit gap between small and large enterprises by making it simpler for SME’s to access export finance without providing hard collateral or business financials as security.

Features and benefits of invoice discounting:
No collateral required. You just have to present the raised invoice to the lender.

The seller retains invoice ownership.
Get as financing of 90% of the invoice amount.

Get financing offline or online.
Financing amount’s quick disbursal.
Lenient eligibility criteria.
Low-interest rate.
.

Methods involved in invoice discounting:

With Recourse: Lending institutions conduct an intensive round of verification on the documents submitted by sellers and submit them for validation by their bank. If the bank determines that there has been a default on payment by either of them, they could become responsible for any potential debts owed by either of them.

Without Recourse: The lending institution does not conduct any verification on invoices and documents provided by sellers, nor do they check with their bank accounts.

What are the factors on which invoice discounting depend?
Company’s financial turnover.
Financing amount needed for the business.
Total amount of the invoices.
Business customer base.
Visibility of the business.
Why to prefer invoice discounting?

Invoice discounting provides businesses with the means to continue operating without worrying about cash constraints or lengthy loan applications. With this short-term financing solution, cash can be secured without collateral requirements; alleviating invoice backlog and providing you with extra funds for everyday business expenses. Customers don’t need to chase you for bill amounts any longer! Instead, let them manage their finances freely while still having enough money on hand for ongoing costs.

Does this financing method suit newly formed and small businesses?
Yes, lenders in the market welcome applications from newly formed small businesses and finance their invoices. Lenders take into consideration your current sales volume and potential for growth when considering whether to approve financing for your invoices.

Conclusion:
Falcon Invoice Discounting has made invoice discounting investment possible for individuals by providing multiple platforms to facilitate investment depending on risk and other considerations. Minimum investments vary with each platform and could start as low as Rs. 25,000 for minimum investments on some platforms. Invoice discounting platforms provide verified vendors and enterprises with investors seeking returns. Businesses use invoice discounting platforms to list unpaid invoices that need working capital, while investors provide instant cash assistance and then reap returns within 30-150 days of investment. Investors could include anyone from individuals living in India, HUFs/proprietorships registered in India, institutional investors like banks/NBFCs/other financial institutions as well as NRIs.

Seven Steps Musicians Take Out Of Order – Why Many People Fail In Music

This article explains common mistakes musicians make in their music careers that keep them from achieving success. Learn how to make it in the music business.

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The most successful musicians in the music business understand:

*The right steps to take to achieve success in the music industry.

*How to complete every step in the most effective way to get the results you desire.

*Which order you need to take these steps in to grow your music career fast.

A lot of musicians do the correct things, but at the wrong time (and in the wrong order). The try to build their music careers while basing many of their decisions on fear, incorrect assumptions and tips from amateur musicians rather than proven professionals.

When you make these mistakes in your music career, it becomes extremely hard to succeed:

Mistake #1: Getting In Touch With Music Companies Too Soon

It’s common for musicians to look for any way they can to get signed to a record deal, but only a few of them constitute what music companies are really looking for. Music companies look at musicians similar to how you might look at a particular stock on the stock market.

Unless they know for sure that a musician will pay off over time, it is too risky for them to invest their time and money into that person’s career. When you contact a music company too soon (before you can offer them proof that you are a wise choice), you will be ignored and end up wasting your time.

You don’t have to have massive accomplishments before you can contact them, but you do need to make sure that a company can completely trust in:

*Your ambition to achieve big things

*Your superior work ethic

*Your level of perseverance

*Your savvy business know-how

*Your ability to sell your music to your current fans

Mistake #2: Focusing Too Much On Musical Skills, Not Enough On Growing Your Career

It’s a mistake to spend all your free time honing your musical skills while ignoring all other aspects of your music career. This often happens when musicians don’t think they are talented enough to even try to get into the music business.

1. Musical talent is just one aspect of making it in this business. Spending all your time practicing your instrument means you miss out on the time needed to grow in many other areas.

2. Musical mastery is a goal that continues to change. No matter where you are at now in your skills, you will always be able to improve in one way or another.

You have to begin building your music career as soon as your skills are intermediate or above. Then keep improving as your career goes on.

Mistake #3: Waiting Too Long To Create Freedom Of Time And Money

Bottom line: you have to have money and time to be available for major opportunities in the music industry.

So many musicians don’t work to achieve financial/time freedom until it is much too late. They work full time hours at a normal day job and only build their music career on the side as a hobby.

Most day jobs require you to work 40+ hours a week. This makes it very hard to grow your music career and earn money with it. As a result, many musicians end up stuck at their job and never get out.

Gain control over your money and time as soon as possible by starting early in your music career.

Mistake #4: Not Actively Training Yourself To Think With The Right Mindset

Your mindset is critical for achieving success in the music industry. With a negative/disempowering mindset, major music career success is nearly impossible.

Your mindset is more than just thinking positively. Training yourself to have a success-oriented mindset helps you:

*Overcome big challenges that stand in your way.

*Transform problems into incredible opportunities.

*Do the hard things most musicians avoid in order to get the success most musicians only dream of.

To do all of this, you need to train your mindset from the very beginning. This builds a solid foundation and helps you succeed much faster and stay successful for longer.

Mistake #5: Not Working To Build A Strong Local Fanbase

Music companies are way more interested in musicians who have a huge local following than those who have a moderate internet following. It’s harder to grow a loyal fanbase in your local town than to attract thousands of people all over the world to check out your online videos/channel/etc. Plus, it’s very difficult to fake a local following versus having a lot of likes on Facebook (for example).

Mistake #6: Waiting Too Long To Find A Music Career Mentor

The majority of musicians do not have any training for how to achieve success in the music business, because:

1. They don’t know that music career mentoring exists.

2. They don’t have enough ambition to pursue success in this business.

When you work with a music career mentor, you are investing into your future (not merely spending money). Mentoring helps you make tons more money than what you invest into it. This is how:

*You no longer have to guess when it comes to how you should grow your career. You save tons of time and money working with an experienced mentor than you would simply guessing about what to do next.

*You find out the best way to promote yourself and your music. This gives you a massive advantage when working with/without a music company.

*You discover how to create opportunities in your music career without any outside help. This makes your career very stable and secure, while giving you complete control over how much success you want to have.

Disclaimer: You might be aware that I have a music career mentoring program to help musicians become successful. So maybe you believe everything above was written just so you will join it. This is only partially correct. Of course, I want to help musicians like you succeed. However, the benefits of working with a mentor can’t be denied whether you work with me or not.

Mistake #7: Not Planning To Achieve Musical Goals By Starting From The End Goal

You need to plan your music career by thinking from the end and working your way backwards. Think about what your highest goal is and the final step you must take before you achieve it, then work backwards from there. This gives you the precise path you need to take to get there.

Most musicians try to plan out their music careers starting from where they are at and moving forward. This causes them to get stuck and keeps them from achieving the things they want.

An music career mentor helps you design a strategy to reach your musical goals fast.

Get the music industry coaching necessary for becoming successful as a musician.