You can read part 1 here.

Cold Calling – An Effective Method of Finding Job Leads

There are a couple of significant methods of accessing vacant positions in the hidden job market. The first one is the method of cold calling into an organization in an attempt to get directly connected with the person making the hiring decisions. Almost 10%-20% of job seekers land up into their jobs by way of cold calling. A cold call is usually made irrespective of whether a vacant position is available or not.

The main objective of cold calling is to locate companies that are open to absorbing talented individuals based on their merits, competencies and geographical location. One must begin by getting acquainted to someone already working in the prospective organization. Once you’ve established a relationship with an already working employee, you stand a good chance of getting an audience with the hiring manager as and when a vacancy surfaces.

Prospecting for job openings is same as prospecting for a sale. However, in the former, one is marketing himself/herself instead of a product. If researched well, one can find several methods to locate leads into many companies. Visit any public library and you can lay your hands on abundant resources that can be utilized to gather all relevant information on a certain company or industry and their hiring decision makers as well.

A few indispensable resources to locate such information are The Corporate Directory (U.S. Public Companies), The Hoovers, Directory of Consulting Organizations, Thomas Register of Manufacturing Firms, Gold Book of Venture Capital Firms and the Corporate Finance Sourcebook. One can also approach professional research firms like FTT Research that can make the task of locating hiring decision makers in several companies easier beyond imagination.

Networking to Bag Your Next Job

This is the second and one of the most productive methods of sourcing jobs in the hidden job market. Networking helps as many as 70% of the potential employees to find their prospective opportunities. At its core, networking is basically all about building relationships and sharing valuable information. While you network, you essentially try to get acquainted with new people, share with them some useful information about yourself, learn something about them and be available to them whenever any assistance is required.

Successful networkers are always ready to help others in spite of not having anything to gain from the assistance provided. Such individuals are very forthcoming in sharing their contact information and secrets to help others inch closer to their respective professional and personal targets. Networking isn’t about asking for help regarding jobs. Rather, one must never seek such help while building ones network. Such step might put an unfortunate end to your budding relationship with people due to their discomfort in dealing with such situations.

People good at networking try to extract information about the companies, industries or individuals to gain proximity with the decision makers. However, one common problem that all networkers face is the stagnation of their contact list due to their own lack of initiatives. However, it’s never too late to revive your contact list by taking fresh initiatives.

Job searchers can catalyze their networking process by starting with identifying individuals in their immediate environment. This would include close friends, local community members, relatives, doctors, religious bodies etc. It goes without saying that every individual in your network must be acquainted to several other people. The purpose of networking is to spread your branches as deep into a network as you can.

Further, make a list of companies that interest you and follow it up by scouting for people who work for these companies. They need not be individuals who are related to your field, but can merely bridge the gap between you and the concerned hiring authority in the target company. They can assist you with useful information about the company’s vision, work ethics, business systems etc.

They may further introduce you to individuals who are a step closer to the hiring managers. Such indispensable acquaintances can be found at online social/business network websites like Ryze, Facebook, Ecademy, LinkedIn etc., professional associations, corporate alumni portals like BrightCircles.com and CorporateAlumni.com, school alumni portals for example, Classmates.com.

Regardless of you being an already employed individual or planning to make a career move, it goes without saying that it is essential to keep in touch with the hidden job market. Such initiatives will help you greatly when you decide about making a switch to another organization in the future. It is imperative for a good career strategy to be imbued with a comprehensive networking plan. Not only will it help you land the desired jobs, but will also assist significantly in expanding your social circle.

The Hidden Truth Behind Open Job Market

Many job seekers depend heavily on the open job market for the prospective employment opportunities. Such means include the regular search on the ‘wanted’ advertisements in the local newspapers and myriad job posting boards. While such options may look very tempting, in reality there are only a few people who get successfully placed through these leads. The placement percentage through these two methods combined stands at a dismal 5% – 10% only. One of the primary reasons for such bad ratio is the limited means for the job seekers to differentiate their abilities among a huge number of competing candidates. It is quite common for the hiring managers to receive 500 plus resumes for every position that is posted. In the absence of any personal interaction with the hiring team, the job seeker is left to the whims of technology. It is only if his application has enough keywords and features matching the profile that he/she stands a chance to get audience with the hiring manager. The sad part is that among the various companies that post their requirements through such mediums, less than 25% acknowledge the receipt of the candidates resume. Much less, only the exceptional 5%-10% receive subsequent information regarding the job profile.

How to Get Maximum Returns from the Time You Spend on the Open Job Market?

There are several job searchers who waste valuable time by sending out their resumes to various non-reliable job search portals. Many of them, in fact, shoot their CVs to all the job placement portals and then wait endlessly for that rare interview call. Ideally, no more than two hours must be spent per week for posting ones resume on various job websites. One must instead opt for time saving methods like posting on the aggregate boards, for example, SimplyHired, Jobster and Indeed. These websites gather precious job related information from various online boards and then send job alerts to the subscribers based on their profile.

Reasons behind the Hidden Job Markets’ Tremendous Opportunities

Besides the couple of hours dedicated to the weekly online job search, the candidates have many hours available to adopt different methods. As much as 80% of the jobs taken up through the hidden job market are the ones that are filled by the word of mouth method.

There may be several reasons for open positions not making it to the online job boards. In all likelihood, the company might’ve had a sour experience searching for candidates via online method and is looking at offline resources now. It may also be the case that the company doesn’t have the required finances to post for jobs online.

A large number of companies constantly use the employee referral method to save on the hiring costs. It is a very effective method to hire in situations where an individual is on performance counseling and may soon vacate his/her position in the company. It may not be feasible for the organization to go through a longer hiring procedure just to fill up one vacant position.

Vacant positions are also filled up by the method of internal job postings. This method not only results in a cost effective fulfillment of a vacant position but is also a great motivator for the existing employees. Many a times, a company opts for internal job postings to avoid public attention associated with a new venture. No company would want to loose out on the early starter advantage in an unexplored market. All these are valid reasons for a company to abstain from posting its job requirements online.

Part 2 

Las Vegas is a great city, maybe one of the best in America. We have seen almost every angle of it on TV, in magazines and on the internet. All the celebrities go there, the ambiance is great and there are shining lights and beautiful buildings everywhere. So what’s so bad about visiting Las Vegas? Well, nothing, as long as it stops there. If you are considering of moving to Las Vegas, then that’s a whole new different story. If all you want to do it get married there, you’re still fine.

Beyond all the extravaganza, the glamor and the casinos is a whole new world that might not be so enjoyable to live in.

1. Housing Market

The housing and renting market are more expensive than they should be. A regular 3 bedroom home cost anything between $100,000 to $150,000 more than usual. The only people who buy this and can afford this are the people who use houses as investments and do not use it as their principal residence. Unless you are an investor looking to increase your portfolio, getting a home is not cheap. Thinking of renting? The average rent for a 1 bedroom apartment ranges from $1000 to $1500 per month.

2. Traffic

The traffic problem is insane. You might think that every city has traffic problems, but this is different. The city has very aggressive drivers and the problem is doubled by a lack of police patrols. The freeway system is poorly built, and this causes to have rush hours not only in the morning and late afternoons, but very often 24 hours a day due the population boom in the recent years.

3. Water

There is also a problem of water. The city being at around 2 million population, and the majority of the water coming from Lake Mead, and adding that most homes have swimming pools, it is no surprise that the water level from Lake Mead is around 60 feet below what it was 10 years ago. The city is still growing and more and more water is needed. What will happen another 10 years from now? You can read more about the city’s water problem here.
Las Vegas thirsts for more Water.

4.Heat

The temperature is extreme. It is hot and dry. Usually this is not a problem, but when the temperature is steadily and constantly high day after day, your mood isn’t really at its best. Rains and storms that can be refreshing at times are rare.

5. Schools

Schools and education is yet another problem. The population that is rising is forcing them to build new schools, and while that is a good thing, they need the qualified personnel to fill the positions. But you have to think that the average salary of a school teacher is $27,000 per year. 27k isn’t that low right? Well, when you take into account that you are a teacher which is a qualified and professional job AND that you are living in one of the most expensive cities in USA (remember the housing and renting market?), $27,000 is far from offering a good standard of living.

6. Employment

There are tons of jobs in Las Vegas, right? Yup, right! But low paying ones. The reason why job opportunities are so high is because of casinos. During your job application, you are asked to account the last 10 years of your employment history and on top need a good credit. Besides, you are hired in a manner in which you can get fired and replaced at any minute. And I won’t even start with the low wage problem.

7. Gambling

Duh! But here’s the thing. You will live and breath gambling. You might go there saying that you are not a gambler and will never risk a penny of your hard earned cash, but when there’s a casino at every corner, the lure is hard to avoid. Thinking of getting your distractions elsewhere with shows, entertainments and fine dining? That’s great, but guess what? They are mostly located in the casinos as well. What’s left for cheap entertainment? Staying at home and watching TV always works.

Also, don’t forget the problem of alcohol. If you are in a casino for a certain period, you will inevitably have a few drinks. They’re free! Talk about cheap. Even though you have to tip the waitress, it’s still extremely cheap. But alcohol alters your judgment, and soon you’ll be spending money on machines and on the tables. If you’re unlucky, you might fall in the trap of the work, then sleep, then gamble, then drink, then work… pattern.
There is also the multiculturalism aspect of the city. In itself it’s not a bad thing, and might even be a good thing if you like diversity and learning new cultures. There are people from everywhere, like China, Bulgaria, Mexico, Romania, Pakistan, etc… If you are a caucasian natural born American, you will find yourself being in the minority. You might also find it hard to trust other people who speak a different language with an aggressive tone giving you a weird look. A lot of these cultures are naturally aggressive. You always have to keep an eye on your place wherever you are, whether at the gas station or grocery store as they will steal your place. I’m not racist or anything at all, this is just the way it is there.

But hey, let’s look at the bright side. The housing market is rising, taxes in Las Vegas are lower than other places in USA, and let’s not fool ourselves, it’s a great looking city that offers more pleasure than anywhere else. The cool people live in Las Vegas.

In conclusion, it goes like this. If you have a lot of money and are already rich and looking for a great place to have fun and enjoy great entertainment, moving to Las Vegas is for you. On the other side, if you are a regular American citizen and are looking to move to a different city for new employment opportunities, for a new life and a better future, forget Las Vegas.

How come the rich not only get unbelievable incomes but also have the luxury of having all time in the world to enjoy their wealth while the many who have low incomes have less and less time for themselves to enjoy?

To the latter I say: Wake up and Think Hard Enough!

Upon analysis one realization should open your eyes: The proceeds of your labor are also determined by the type of revenue that make-up your livelihood. Let us take a closer look at what is referred to as type of revenue or income. One is temporary income which comes from payment given to you after doing the job. The second one is residual income. This is where you get paid as many times you accomplish the job even if the work is the same but is done another time.

So what do you earn? Temporary or residual in nature? Find out by answering the following questions:

*Do you get paid when you do not report to the office?
*Since you have a profession like a dentist or an architect, will anyone pay you if you do not give them service asked by your profession?
*You are a broker but will you earn commission if you do not sell a house or land?
*If you’re a newsstand owner or proprietor, will it earn enough if you do not attend to it personally?

What are your answers to the questions? If they are No, then your income is temporary. As the term implies, your income is good only insofar as you can deliver.

When you are unable to have enough time to every service asked of you then you do not earn. Your income relies on the many hours you work. To go back to the situation posed earlier, you do not only miss the opportunity to accumulate income but also miss the opportunity to take your luxury cruise!

So how does one change from merely receiving temporary income to receiving this ideal residual income? Here’s a handy tip: use the cost-efficient power of passive revenue. All you have to do now is use your time to its maximum and see to it that you get paid for every project you make.