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Are Good Looks an Advantage or a Disadvantage at Work?

A lot of attractive people complain that people assume things about them without getting to know them. It’s assumed that they’re unintelligent, superficial, and even arrogant.

You’ve been given the gift of physical attractiveness, which has to mean you’re lacking in other areas. In the social world, you’re just the pretty boy or girl.

But does that perception carry over into the professional world? Is there a bias against people who are good-looking?

 

Green Without Envy
Economists Markus Mobius of Harvard University and Tanya Rosenblat of Wesleyan University did a study to see how looks affected the hiring process. They divided participants into five groups:

  • Two of the groups never saw a photo of the candidate or the candidates themselves
  • The other three either saw the candidate’s photograph or in-person.

The groups who saw the candidates were much more likely to hire the more attractive candidate, even though the less attractive candidate was just as qualified.

These employers predicted that the attractive candidates would be more productive, and would be rewarded for it with higher pay.

Even Greener Pastures
Daniel Hamermesh, an economist at the University of Texas, is one of the world’s foremost authorities on the economics of beauty. Dr. Hamermesh has focused on how beauty effects financial success in the workplace.

His research confirms the results of the study we just referenced – that beauty gains an advantage because the doors of opportunity open more frequently. So they make connections, learn skills, and grow professionally. Then they’re able to leverage that first opportunity into many more opportunities, which results in even higher pay.

He also offers little hope for the unattractive. His research has shown that spending money on things to enhance your looks is a waste. You’ll only get back about 15 cents in pay for ever dollar you spend.

Our bigg quote today is by an unknown author:

“We could learn a lot from crayons; some are sharp, some are pretty,
some are dull, while others bright, some have weird names,
but they all have learned to live together in the same box.”

The more colors you have, the more colorful your world can be.


Questions for you

Socially, we often hear pretty people complain that they’re discriminated against. But research seems to show that it works to their favor in the workplace.

From your experiences, do you think good looks are an advantage or a disadvantage?

Is there a difference between men and women? Are good looks more important in the workplace for men or for women?

How about age? Is this something you think affects young people more than older workers or vice versa?

What do you think of Dr. Hamermesh’s finding that it doesn’t pay to try to package yourself better? Do you think it makes a difference?

Share your thoughts by leaving a Comment.

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Don’t Fear the Banker!

A lot of us are very uncomfortable talking about money, whether that means negotiating your salary, asking for a sale, or asking for a loan. So the thought of going to the bank to get a loan can be very intimidating.

The loan process seems somewhat mysterious. Wouldn’t it by nice to know where bankers are coming from? Then you would be better positioned to get the money you need.

3 things to understand about your banker

#1 – Banks can’t afford to lose money.
A lot of people don’t realize that banks operate on relatively thin profit margins. So, contrary to popular belief, they don’t make that much money on every loan.

The biggest question every banker has when looking at every loan proposal is …

Will we get paid back?

They’re more concerned about the return OF their investment than the return ON their investment. That comes later.

#2 – Banks don’t fund start-ups.

This is perhaps one of the biggest misperceptions in the business world. People think the bank is the best place to go for money they need to start a business.

To which we say, reread our first point! Bankers are relatively risk averse for the reasons stated above and more. So banks don’t tend to lend money to new, unproven firms.

You might be saying, “But I know people who got money to start their business from a bank.” Here’s the distinction – the bank wasn’t loaning money to their BUSINESS; they loaned them money as individuals FOR their business. If you look deeper, you’ll find that, in almost every case, they secured the loan with equity in their house or some other asset.

#3 – Banks need to lend money.
That’s their business. So if you need money, and you can prove that you can pay it back, and you have some assets to secure the loan, go to the bank with confidence!

Your bank is just like your favorite video store.
Video stores rent DVDs for a fee. Banks rent money for a fee. So going to the bank is just like renting a movie. You have to return the movie and pay a fee. And hey, unlike video stores, bankers don’t charge their fees upfront!

Click on our Comment link below to share your thoughts on today's post
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Our bigg quote today is by the great Stephen Covey:

“Seek first to understand, then to be understood.”

Understand your banker’s needs so you stand to get your money needs. 

Next time, we’ll discuss how to offer criticism without being critical. Until then, here’s to your bigg success!

Subscribe to The Bigg Success Show in iTunes. 

Subscribe to the Bigg Success feed.

Related posts 

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(Image by svilen001)

Don't Fear the Banker!

A lot of us are very uncomfortable talking about money, whether that means negotiating your salary, asking for a sale, or asking for a loan. So the thought of going to the bank to get a loan can be very intimidating.

The loan process seems somewhat mysterious. Wouldn’t it by nice to know where bankers are coming from? Then you would be better positioned to get the money you need.

3 things to understand about your banker

#1 – Banks can’t afford to lose money.
A lot of people don’t realize that banks operate on relatively thin profit margins. So, contrary to popular belief, they don’t make that much money on every loan.

The biggest question every banker has when looking at every loan proposal is …

Will we get paid back?

They’re more concerned about the return OF their investment than the return ON their investment. That comes later.

#2 – Banks don’t fund start-ups.

This is perhaps one of the biggest misperceptions in the business world. People think the bank is the best place to go for money they need to start a business.

To which we say, reread our first point! Bankers are relatively risk averse for the reasons stated above and more. So banks don’t tend to lend money to new, unproven firms.

You might be saying, “But I know people who got money to start their business from a bank.” Here’s the distinction – the bank wasn’t loaning money to their BUSINESS; they loaned them money as individuals FOR their business. If you look deeper, you’ll find that, in almost every case, they secured the loan with equity in their house or some other asset.

#3 – Banks need to lend money.
That’s their business. So if you need money, and you can prove that you can pay it back, and you have some assets to secure the loan, go to the bank with confidence!

Your bank is just like your favorite video store.
Video stores rent DVDs for a fee. Banks rent money for a fee. So going to the bank is just like renting a movie. You have to return the movie and pay a fee. And hey, unlike video stores, bankers don’t charge their fees upfront!

Click on our Comment link below to share your thoughts on today's post
Click on the Share This button below to Digg, Stumble, Mixx more

Our bigg quote today is by the great Stephen Covey:

“Seek first to understand, then to be understood.”

Understand your banker’s needs so you stand to get your money needs. 

Next time, we’ll discuss how to offer criticism without being critical. Until then, here’s to your bigg success!

Subscribe to The Bigg Success Show in iTunes. 

Subscribe to the Bigg Success feed.

Related posts 

How To Become A Millionaire

Good Debt vs. Bad Debt

How To Get Your Customers To Finance Your Business

5 Places to Find Cash for Your Business Today

I Have An Idea For A Business! Now What?

Lessons Learned From A Bankrupt Business Owner

(Image by svilen001)

The Negotiating Table

We know a gentleman who’s bought and sold businesses for years. He closes a deal about every ninety days. He said that every time he buys, he feels like he paid too much. Conversely, when he sells, he always feels that he didn’t get enough.

Negotiating is a nerve-wracking process – whether it’s for a job, a car, a loan, or anything else!

So today, we’ll serve up some delicious tips for negotiating your next deal. Think of it as a three-course meal – an appetizer, the main course, and dessert.

There are two things to keep in mind before we get to our three courses.

  • Know what you want. What are your taste buds craving? What’s your ideal deal? Have a clear picture of this before you start.       
  • Ask for what you want. It may not be on the menu. Ask for it anyway. You never know – the chef might be able to whip it up for you!

Appetizers
You won’t get filled up at this stage, but you will get a taste of what’s to come. During this course, you’re feeling things out. What are they looking for from you? What might they offer?

Will you be working together long-term if this deal is consummated? If so, focus on building the relationship. Look for win / win. And keep this in mind – if they like you, you may get a better deal.

Try to determine how much leverage you have. Why do they want to do this deal? How badly do they want it? Do they have to do it? Who’s in a stronger position – you or them?

Be careful not to put too much on the table during this course. For example, you’ll save things like your price and terms for the next course.

Main course
You may walk away before you get to this course. If you’re still interested, here’s a caveat. Negotiations often stall here. So if you like what you’re hearing, find ways to keep things moving along.

If you get stuck on a point, set it aside and come back to it later. Maybe if you chew on something else, this will be more appetizing later.

Don’t lose sight of the bigg picture because you’re trying so hard to win a point. You may get a morsel but lose the meat!

You shouldn’t concede unless they do so as well. This sets the tone you want. For example, let’s say you’re negotiating your salary. Maybe they can’t quite pay you what you want, but they are willing to give you some additional time off. You may accept that trade-off.

Dessert
You may decide you don’t want dessert – you know you can’t come to terms. But assuming you decide to stay, you’re ready to negotiate all the details. That’s one reason this course can be the most nerve-wracking of all. Plus you’re getting closer to actually committing.

You probably won’t feel fully satisfied at the end. Be happy if they’re equally unhappy!

Ultimately, they may reject your offer or you may turn them down. In either case, what are your options? Keep them open so you have a back-up.

What techniques do you use at the negotiating table?
Share them with us by leaving a Comment below.

Our bigg quote is by John F. Kennedy. We’re sure he had loftier ideas when he said this, but it’s still appropriate.

“Let us never negotiate out of fear. But let us never fear to negotiate.”

So, enter every negotiation knowing that, you don’t have to do it, but don’t be afraid to do it.

In our next blog, we’ll answer a question from a member who wants to know if she should keep her job or buy a franchise. Hopefully by then, we’ll be recovered from this bigg meal! Until next time, here’s to your bigg success!

Related post

Should You Count On Your Counter-Offer 

Should You Count On Your Counter-Offer

Bigg Challenge:  We received an e-mail from Patrick, who was approached about a job. He met with the prospective employer and accepted their offer. Then he got an unsolicited counter offer when he told his current employer that he was resigning. He wants to know if he should accept it.

Bigg Advice: Congratulations, Patrick! Isn’t it nice to be wanted? It sounds wonderful, but the reality is that it can be quite stressful. We feel the need to preface our comments – we can give you general advice, but only you can decide which offer you should accept.

  • Why did you accept the offer from your prospective new employer?
  • It’s unclear from the e-mail why you wanted to leave. There are many possible reasons why you may have been drawn to your prospective employer’s offer. Was it money? Maybe you were unhappy at your current job – you just hadn’t started actively searching yet. Perhaps the new job seemed like a better opportunity. We’ll assume that if was a combination of these factors.

  • Why did your current employer counter?
  • We can think of two possible explanations for your employer’s counter offer. First, they may be buying time. Perhaps they’re not prepared to do a search now. The timing is bad because of current business volume. There could be any number of reasons for them to buy time. Just be aware of this. Second, they may truly value you. They really don’t want you to go. They’ve invested in you – you’re part of their future plans. It’s hard to judge intentions. Assume the best, but keep the worst in the back of your mind.

  • Get it in writing.
  • Negotiate your counter offer as if it was a brand new job. If you’ve been promised more money, it will be easy to judge whether they come through. It’s more difficult with other factors. You may want to travel less. Maybe you want more flexibility. Or you need more time off. Perhaps it’s growth opportunities that you seek. These factors are harder to deliver. So ask your current employer to put their offer in writing. Tell them that you appreciate their counter. You want to fully evaluate it. You prefer to stay with them, but you want to know that you’re making the right decision. Seeing it in writing will help you do that.

  • Maintain your relationships.
  • We don’t believe you should let your prospective employer know about the counter offer. They probably expect that anyway. However, you should make your final decision very quickly. Somebody will have a position to fill. Lingering only makes that a bigger problem. Whatever you decide, don’t burn bridges with the affected party.

Thanks for sharing your bigg challenge with us, Patrick. We hope our bigg advice helps you!

Do you have a bigg challenge? We’d love to help. E-mail it to bigginfo@biggsuccess.com

Our Bigg Quote today is by Karl Albrecht.

“Start out with an ideal and end up with a deal.”

You’ve been dealt a good hand. Play your cards well. Maintain your poker face. Draw from within and then place your bet.

Next time, we ask you, “What’s your pickup line?” We’ll discuss how to grab someone’s attention with a great opening line. Until then, here’s to your bigg success!

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