Your career is the fountain of your wealth. Manage it wisely. Career Management and Wealth management go hand in hand. So managing your career and growing it is by far the most important aspect if you plan on increasing your wealth. The article is specific for Indian readers though most of the ideas expressed are universal.

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Importance Of Career Management In Wealth Creation

Excerpt from:
Day 24 – Personal Financial Management with Sandy Botkin

The Course in Mastery 30 Day Challenge Day 24 – Personal Financial Management with Sandy Botkin Increase Your Wealth – Week 4

There is no doubt that a complete and comprehensive telecom audit of corporate telecommunications companies may reveal considerable savings opportunities.

The key to finding Telecom Costs Management would be to sift through and read information taken out from three perfect options: 

Customer Service Information, consumer telephone expenses, as well as the traffic patterns of the clients.

Over-provisioning

Let’s look at one of the seven parts which is fresh for telecom savings – over-provisioning. Over-provisioning means there are other Telecom Costs Management services being paid for than are essential for business operations to perform effortlessly.

How can over-provisioning happen to start with? There are many reasons, but several of the main causes are based on Grade of Service or GoS.

Grade of Service (GoS)

Telecommunications services are definitely the center of any business. Incoming calls and purchases queries must not be met with a busy signal, or the result may be the loss of a customer.

Historically, telephone corporations have recommended and provided amounts of access lines sufficient to provide a P.01 grade of service. This means that no more than 1% coming from all callers will receive a busy signal, even throughout the busiest time of the day. (A P.05 grade of service indicates a maximum of 5% of callers get a busy signal in the busiest hour.)

P.01 is suitable for some scenarios, however it could mean that lots of businesses are inadvertently paying for more phone lines than are necessary.

Service Features and Improvements

Not only does tight adherence to P.01 grade and services information cause inefficiencies, yet so could the expansion of service innovations provided by today’s Telecom Costs Management service providers.

The business thrust of enhanced services, like voice mail, caller id, call waiting, call transfer, 3-way calling, call forwarding, and so forth. is pretty obvious: to increase the amount of revenue per consumer and to boost the carrier’s profits. The issue is that several of those feature enhancements are generally not affordable or, the features aren’t utilized.

Lastly, customers frequently don’t remove services – lines, trunks, functions, listings, etc. – if the dependence on them dissolves. 

Whether you have just been hired to your first managerial position or you have years of experience up your sleeve and recently went a step up the corporate ladder, it is very important that you spend time thinking about your plan for success. You may not be aware of it, but managing people is one of the hardest part of your job. So, the efforts that you put as you start your new role will spell the fate of your career.

If you need a platform for your management training programs check out this learning management system software that you can try risk free.

How you handle your team should be on the top of your list, aside from doing your regular work. First you should recognize the fact that regardless of the kind of management strategy that you apply, the goal is for you and your team members to learn from each other, as a team. And since you are the manager, it will be your responsibility to establish that give and take relationship.

If you and your team are not working with each other to learn and grow together, then you need to reassess your priorities big time. There is big chance that you will have employees who are smarter than you and who know their jobs well than you do. However, do not take this negatively, instead think of it as a blessing. When you come to think of it, the success of a manager will be deduced from the quality of work done by the team.

A lot of supervisors do not realize the importance of learning from their employees. Usually, what they do is give more importance to authority and control over realizing what they can get from a mutual and a continual learning process. By sharing the learning experience, it will be much easier to nurture the relationship build on respect. Work relationships built on respect lead to great performance.

Therefore, your strategic focus should be on the quality of your communications and accessibility as a manager.

One way is to implement and teach effective communication. Your caliber as a leader will depend on how effective your communication is with your people. The phrase “proper communication” might sound easy, but in reality it is not. It is more than just the spoken word; it is about expressing and accurate message through tone and body language and to understand the real message that you are getting in return as well. Keeping an open communication, having the ability to adapt your style with the different sets of audiences as well as the steps that you take to make sure that everyone is one the same boat is vital. If you hone your communication skills as a manager, you and your team will reap the benefits.

Interested in communications and management? Check out this article about tips for the new manager.

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Steps to Financial Freedom – Part 1

George is having trouble understanding where his money is going to. Following his journey and find out the keys to avoiding his mistakes along the way