Bridge Firm Recovery February 2019

Recovery Reader The February 2019

www.bridgefirmrecovery.com (269) 359-0814

FROM THE DESK OF Dan

Many investors get into the ‘landlord business’ after watching how ‘easy’ it looks on TV. Often, they find it is a greater challenge to actually make money. Getting a tenant with the property is great… or is it? You don’t know them, you haven’t screened them, are they really a gift? One landlord recently had us ‘work’ with several problem tenants that he acquired with purchases, assisting them to become current, or move on to other accommodations… (If you know what I mean…) He was able to work with his great new tenants as he built his rental business. While we resolved the rest. His rental manager quietly stated that the tenants selected by using our services were no issue, it was the tenants HE had chosen when he went by his ‘gut’, in-spite of the data, that were a challenge! We have a net worth optimization process we call the Landlord Advantage . Our application prescreening process helps with risk assessment. When there is a ‘bad apple’ we help recover that lost revenue on the money judgments. The next time you hear a landlord mentioning they have tenant issues, let them know I offer a free consultation to bring the Landlord Advantage to their business.

DEFINE ‘QUALIFIED’ Hiring for Hard Skills vs. Soft Skills

HIRE FOR PERSONALITY, TRAIN FOR SKILLS.

This advice is becoming a standard hiring practice across industries. Hiring managers put less emphasis on a candidate’s degree or past experience and focus more on who they are as a person. This change is likely due to the growing trend of companies prioritizing strong internal cultures. According to Forbes, 89 percent of hiring failures are due to poor culture fit. It’s wise for hiring managers to make culture fit a priority. New hires who don’t connect with their team or share the company’s values tend to stick around for only a short period. Considering it costs around $4,000 to hire a new employee, it makes sense for companies to invest in new hires who fit the company culture. However, it’s not always enough to hire someone just because their personality is aligned with your company. For a company to hire the best pool of applicants, the ideal candidates should have a balance of soft skills and hard skills.

Have a profitable month!

SOFT SKILLS

When someone says they“hire for personality,”what they really mean is that they are looking for candidates with certain soft skills. These are nontechnical skills that can’t be measured and aren’t easy to list on a resume. Here are some soft skills companies look for in new hires:

Dan Larson

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