How can I build a network after graduating from college?

Everyone starts with a network that includes family, friends and classmates. The purpose of networking is to ask people you know or get to know for information and advice. The network expands when you add coworkers, customers, professionals such as accountants, lawyers and bankers, individuals you meet at alumni groups, trade and professional association meetings and through online services such as LinkedIn.

The Society for Human Resource Management found that almost all job applicants and human resource departments used networking and personal contacts to fill positions, and networking was rated as the most effective way to get a job. Many employers hire individuals with a personal connection to people already working in the organization. A network is helpful to your career when it comes to learning of opportunities in your organization and in finding your next position. Connecting with others improves your success in your current job by learning from the experiences of others. Many believe that networking is not a work style but a lifestyle where you focus on meeting new people.

What are the “do’s” and “don’ts” of using a network?

Building a personal network means meeting, contacting and maintaining relationships with people who can help you succeed. It is a great way to learn of new opportunities and obtain information valuable to your career. The process starts with building a list of everyone you know. The objective is not to have an overwhelming list of names but a small number of solid contacts. Plan ahead as to who you want to add to your network. Many individuals make the mistake of trying to add everyone to their network. Contacts should be qualified on their ability and willingness to help you. The key to successful networking is building mutually beneficial relationships based on trust. You should not view networking as only what others can do for you. Individuals in your network should be treated with respect and courtesy.

How do I become a better manager of time?

The management of time includes goal-getting, setting priorities, dividing tasks into relevant categories, classifying the categories as important, on-going or routine and scheduling. Generally, unimportant activities consume the majority of our time. Goals should be specific, measurable, relevant and attainable in a specific period of time. Time is one of your most valuable resources to achieve our goals. Twenty percent of our time generally accounts for eighty percent of our productive activities.

First, you need to find out how you are currently spending your time. Keep a log of your activities. Recognize how you prioritize your activities. What are your objectives? How do you tackle tasks? Do you use a “to-do” list? If you use such a list, the most important activities should be on the top of the list. Do you group tasks? Sometimes you may need to break-down these activities into a series of smaller activities so that you are not overwhelmed with the work in front of you. A list is helpful in recording and organizing the tasks on a sheet of paper so that you can plan the order in which things will be done.

The list needs to be reviewed on a daily basis and updated as new activities arise. An ideal distribution of time is where you spend 85 percent of time on activities that further your career and business or contribute to your growth and 15 percent on routine matters. Effective time management helps you be better prepared for your job, allocate time appropriate to a task’s performance and ensure that no project is neglected. Time management saves time if carried out effectively.

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How can I leverage my experience to find my next position?

Your experience has value to future employers if you know how to market yourself. Experience includes information you learned before taking the job and while working in the organization. For your next position, your experience fills a void that is needed by the new organization. Leveraging your experience allows you to enter new fields where experience may give you a competitive edge.

Any experience in management is of benefit to profit and not for profit organizations. Salary.com reports that over fifty percent of the users of their service wanted to change careers including switching to a new industry where their experience would be an added benefit to their new job. Experience should not be used as a form of job security by withholding information from others. You can market your experience through networking as well as a resume that details your accomplishments. Your experience may also be leveraged through participation in trade and professional associations and by writing articles for trade publications.

I have an opportunity to buy a business. What are some of the questions I should ask the present owner of the business?

Make sure you understand the basics of the business such as how the product or service is produced and marketed and to whom. It is a mistake to buy a business you know little about. Buying a business is an important decision that requires an investment in money, time and reputation. Review copies of the business’s financial statements such as the balance sheet, income statement and cash flow projections. As part of the due diligence, review contracts, employee files and rental and lease agreements. Buying the wrong business is the biggest mistake made when buying a business. Among the questions you should ask include: Why is the business for sale? What are the assets and liabilities of the business? How do customers feel about the business? Will the customers stay or move to competitors?