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First of all, congratulations on your venture! You are soon going to do a lot of people good! Now, before I move onto tips and tricks of the business, let me first throw light on some of the basics, for you cannot and should not get the basics wrong! Here are my 3 basic tips from the customer point-of-view.

The Coffee
Now this might sound too obvious a suggestion, but it isn’t, for the importance of serving GOOD coffee cannot be emphasized enough. Make sure you serve real good coffee, especially if you want to increase the number of regulars frequenting your coffee shop. You can have all different kinds of brew, all different mixes and what not. But if the basic, simple coffee you serve at your coffee shop is not up to the mark, no one is going to come back! Understand the psyche behind this – a new customer always orders something ‘safe’ at a new coffee shop or restaurant. He/she rates the entire coffee shop based on that first cuppa. That might sound unfair, but it is true! Now, if the simplest of the coffees you serve does not live up to the customer’s expectations, why is he/she ever going to come back?
Tip: Practice and practice and practice till you get your brew right, and train and train and train till your baristas gets it right too. Also, learn from feedback. When you take orders, ask your customer if he/she likes his/her coffee black, strong or sweet.

The Mood
A lot of the success of coffee shops is dependent on the overall look, feel and mood of the place. The furnishing and interiors of your coffee shop, and how you have decorated the place, should all make up a harmonious picture, where your customer feels comfortable, relaxed, and welcomed. Make sure you have ample floor space. Do not cram too many tables in a small place. Customers do not want other people to even accidentally eavesdrop on their conversations! Finally (and this is the most important thing), keep your place clean. This includes the tables, chairs, serving and billing counters, displays, and most importantly, the washroom.
Tip: Get friends and family to visit your coffee shop before it is open to customers and rate it for different things – experience, ambiance, etc. Work to improve the feedback. Read the rest of this entry »

With growing opportunities many graduates are pursuing higher studies in business administration and management. But, what is important is that, how successful you grow in a particular career and for how long you are able to stand successful in the business market. Now let’s take a look at the career opportunities in business administration.

Business Manager: Business manager job is a prime job concerning business management. The job involves almost everything that is pertaining to develop the business of a company. The work includes planning, organizing, supervising, decision-making, scheduling and combination of all management skills that is required to increase the profitability of an organization.

Business Analyst: Business analyst job is one of the lucrative and interesting jobs. It not only involves basic management skills but also has a wide integration with information technology. Business analyst analyzes the business models and helps to develop the project plans of a company.

Market Research Analyst: The market research analyst provides the data of the consumer needs, demands, choices of the customers, consumer demographics, etc., before a company launches its product. Knowledge about statistics is very much necessary for this job. The job also involves identifying the competitors and providing information for the betterment of the company’s product.

Purchasing Manager: Purchasing manager is also called “procurement manager”. The goods and services required for a company is managed and forecasted by purchasing manager of the company. The job responsibility is to buy and approve the necessary products for the company by analyzing the technical specifications of the products. The purchasing manager also oversees the general supplies required for the company such as equipment and contracts.

Regional Sales Manager: The job is to oversee the products and services and manage the delivery of the goods and services to the customers in a defined geographical area. The regional sales manager sets the target of the sales representatives of the company and develops the plans to meet the required target. It requires presentation skills also. The work includes giving demonstration on goods and services of the company to various other client companies in his region.

Human Resources (HR) Manager: This job involves managing the needs and improving the values of the employees of an organization, in order to bring profit to a company. It also involves hiring efficient employees and organizing other human resource programs. The HR manager analyzes the skills of the employees and provides the required resources to improve the knowledge of the employee by implementing training process, with an objective to utilize the employee’s knowledge and applications for the benefit of the company. Read the rest of this entry »

There are different types of mergers and acquisitions, depending on how they have been financed, overtaken or merged.

Types of Acquisitions
•Asset Acquisition: In this case the acquiring company buys the assets of the acquiring company.
•Stock Acquisition: In case of stock acquisition, the acquiring company buys the stock of the acquiring firm.
Types of Mergers
•Horizontal Merger
•Vertical Merger
•Conglomeration Merger
•Market Extension Merger
•Product-Extension Merger
•Forward Extension
•Backward Extension
•Purchase Merger
•Consolidation Merger
Benefits of Mergers and Acquisitions

Merging of two companies or acquiring a company is done only because, both the parties benefit from it. Let’s look at the benefits it can generate.

Economies of Scale: When two companies merge or when a company gets acquired by another company, then the market that both the companies cater to, become one and their market share as well as their market access increases.

Increased Revenue: Because of economies of scale, the production, sales, expenditure and revenue increase. Which implies that higher profits are derived.

Increased Market Share: When two companies unify, their shares and stock together increases their market share by almost a half. All the investors are now under the same brand. Read the rest of this entry »

Research Thoroughly
Every day, several entrepreneurs venture into the mobile marketing industry, and only those who offer innovative marketing techniques last in the industry. Your main objective is to offer something different to your client. For this, you will have to know what are the existing marketing methods. The only way to learn about the marketing techniques prevalent in the market is to research! Apart from the marketing methods, your research should tell you about:
•Your competitors
•Scope of the business
•Legal and financial aspects of the business
Make a Business Plan
Use your research and make an effective business plan. When you make a business plan you should include the following points in it:
•Objectives of your business
•Cash estimate
•Competition analysis
•Target market
•Marketing strategy
•Projected flow of cash
You should always remember, a business plan is essential for your business. It will keep you on track, and will help you achieve your objectives. One more thing, you should modify your business plan with respect to the changes in the market.

Finalize Your Services
It is very important to finalize the services that you are going to offer, before you think of contacting prospective clients. You may offer:
•Development of mobile website
•Mobile marketing strategies
•Text messaging
•Mobile advertising Read the rest of this entry »

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