Getting into a top business school is as much about being a STELLAR candidate as it is about putting together a GREAT application. Just as scoring well on the GMAT exam requires you to *think* in a different way, applying to “top” business schools will require you to think about the process in a different way as well.

Part 1: Being a Stellar Candidate at a Top Business School

Being a stellar candidate. This is what you spend 4 years (median) of your life to develop. You start working, understanding how business works, how people work, and what it takes to get ahead. This is your real world work experience and business schools pride in their students’ ability to contribute to classroom discussions about real world problems that business executives face.

1. Diversity in Class Profile: MBA Programs will want representation from various types of applicants

By nature, certain industries play a big role in shaping the business landscape. Investment banking, private equity, management consulting. These fields deal with business at a very high level. Schools will want about just as many candidates from various business sectors of the economy – usually no real preference for any sector unless the industry is poised for significant growth. Then a handful of candidates will be in miscellaneous fields as noted below.

So as an MBA applicant yourself, think about where you fit in given such a target class profile. Take note of the size of the MBA class you are applying to. For example, NYU has about ~400 students in their MBA class. This means that if you are an investment banker, you are competing for one of 180 Finance/Consulting designated positions. More importantly, the number of applicants of this type tend to be extremely large.

On the other hand, if you are applying from a non-profit background, you are competing for one of 20 (or even less) such designated spots. But at the same time, the number of applicants in this field tend be extremely low.

So if you find yourself comparing yourself to someone else with different credentials who got into your school of choice – think twice. You should be looking at how you stand out in the overall class profile and judge whether you would be adding value or diversity to the business school.

The figures below are *approximate* but represent a good way to think of incoming MBA Class Profiles for some of the top schools.

45% Finance/Consulting

25% Finance (banking, PE, hedge funds)

20% Consulting

45% Business Sectors

5% Manufacturing / Operations

5% Non-Profit / Education / Govt

5% Healthcare / Biotech

5% Hightech/IT

5% Real Estate

5% Communications / Media

5% Military

5% Consumer Products

5% Energy / Oil & Gas

10% Other (Advertising / Public Relations / Pre-Law / Entrepreneurship)

100% Total

2. Excelling in Your Role

- An advanced position where your role changed and you began handling underlings, interacting more frequently with clients, taking on a greater range of responsibilities. Whatever the case may be, it’s important to paint a picture of this *change* in your career. It is this change that is the foundation for your stories on tough challenges you faced, risks you engaged in, people management issues you confronted, etc.

- The technical and the managerial. Business requires technical competency. Above this standard is an industry built around people – networking, handling clients, managing below and above you, building rapport with colleagues, etc. Being a competent business professional who can work well with others is a key attribute for successful business executives.

- “Work well with others” is certainly a very fuzzy concept – but it involves communication skills that are extremely important on the job. Whether it’s oral communication, ability to build rapport with new strangers/clients, ability to hold conversation in politics, sports, business, family, travel, etc. -all of these soft skills are important and will be reflected in your recommendations and ultimately your career progression.

3. Globalization Perspective

- This largely applies to students at top business schools. The world’s future business leaders understand global dynamics, language / cultural differences, and the beauty of a global perspective. International experience for at least 6 months or more is a big plus. It is this international perspective that makes top business schools unique – and a notch ahead of other business schools.

- If you don’t have six months abroad, any experience that may help you paint yourself as culturally unique is helpful (growing up in a foreign country like Peru, Brazil; study abroad programs; internship/conferences abroad).

- If you really don’t have any of these experiences, try to seek out these opportunities if you can. But don’t sweat it. Not having an international experience that you can point to and show DOES NOT MEAN that you are a bad candidate. It just means that among the applicant pool, it’s harder for you to stand out and differentiate yourself. Think about the business of marketing products on supermarket shelves – there are a ton of great products. Sometimes consumers can’t tell the difference between two brands, but one that has a bell and whistle might just stand out as more attractive – even though its technical specifications might be lower. Just keep that in mind. For top schools, you’ll need to stand out in other ways.

Part 2: Putting together a GREAT application for Top Business Schools

1. Scoring high enough on the GMAT Exam (>700 for top business schools)

At top business schools, most admits are 700 and above with a some below. In this day and age with test prep resources available to so many students, don’t neglect this valuable resource to help you get ahead. The fact that there might be so many programs out there that might help you “beat the system”, the data continues to show that students with higher GMAT scores fare better in business schools. One important note is that scores tend to fall after the GMAT test itself changes, so watch out! In June 2012, the GMAT will add a new section (in addition to Verbal and Quant) called Integrated Reasoning. And from what I’ve seen, these questions are much more real world questions that may involve manipulating an excel-type table, looking at charts, and choosing multiple answer choices.

2. GMAT Exam >700 Even for NEAR top business schools?!

If I were to guess, I’d say more than 30% of applicants who scored 700 and above get rejected at top business schools. So where do they go? These remaining 70% of folks fill up all the other business schools that are just a notch below. And so that makes these “near top business schools” even more competitive, especially as more and more students score over 700 each year. When this happens, the scores realign and it becomes even harder to score the same score. To prevent this vicious cycle, GMAT needs applicants to score lower and so it is making a change to the exam and updating it to reflect more real world type problems. All that matters to you is getting a respectable solid score, so that the admissions committee will have interest to READ your essay.

Personally, I think scoring above a 700 requires a lot of thinking. A different way of thinking. And in my opinion the test prep companies out there were ineffective – based on everything I heard from my friends. Question after question with the assumption that practice makes perfect.

Well, smart people will realize that continual practice without guidance will NOT make you perfect because eventually you’ll reach a point where your score just won’t go any higher. It might take a movie like “Inception” to rewire your thinking, but my new assumption is that improving your score requires a different way of THINKING. And it is this thought process that I teach and that I feel is the most effective method to boosting your score. Empower yourself to THINK like a top test taker.

4. Application Essays

This is probably the most important part of your application. What is your story? Can you paint a picture for us of who you are? Do you fit the profile of somebody who has the mindset to make a big contribution in business? Everyone faces risks and problems, how have you dealt with yours in the past? What have you learned that you can take away for the future?

Storytelling skills are important here. This is vital, as admissions people are human after all, they want to get to know you and feel the emotions of what makes you a standout candidate. Let’s take, for example, a situation where you took on greater responsibilities with a client.

Story Telling Your Application

A. Assume a framework and make a concerted effort to capture the emotions associated with that framework

Take the position that you normally do analytical work and don’t interact with the client – capture your emotions of being eager, ambitious, and nervous at the same time.

B. Introduce characters and challenges

The “situation” – who are the characters and what are their roles? You can mention your boss, you, the client who might be a VP and his respective analyst. You might include descriptions like very aggressive or very lazy, maybe even unresponsive, etc. Do what you need to do to paint a picture of the “scene”.

C. Development – tell the story with rising action

This is where you talk about the project and how it progressed. You did the analysis, shared your work, got some feedback from the client and re-edited your work with those comments. Then as presentation went on to the next level, the analytical work was largely ignored and just became a discussion that went on for hours. Ultimately negotiation for the deal came down to making the other party feel comfortable – the deal was signed and you helped the firm earn a fee.

Climax / Turning Point / Twist:

So, basically the climax was just told before – the deal got signed. But more importantly for application essays, you’ll need to reinterpret this event in your eyes to capture the “aha” moment for you. This is where you talk about what you learned and how it changed you. What do you see differently now? As a result, what do you do differently now?

As an analyst, you were always focused on number crunching. But through a series of meetings at the client level, you started seeing how business was not really just number crunching. Once you got beyond this level, business was business. In fact, it blew you away that the number crunching that took you hours to work on was not even mentioned in discussions with the client. You started seeing that business was much more people oriented than you had imagined before. As a result, you started lifting up your head and thinking about how discussions with the client would go. You would get through your number crunching as fast as possible, then immediately start thinking about higher level business questions on your own. You took more responsibility to think at a higher level before discussing with your boss – consequently you became more prepared to handle discussions with clients and began contributing more at this higher level.

This is just one way to tell your story which paints you as someone gradually rising the ranks. This is a great attribute. At the same time, be careful of how you tell your story because that is how the admissions committee will brand you and perceive you. Remember, they are going to want a diverse student body with diverse perspectives. If you have a unique story that can be told using the same storytelling elements described above, then you’ll have an edge.

5. Recommendations

Hot Shot Recommendation: In the business world, recommendations are social proof. Getting one from a big name guy in the industry who is widely recognized is a huge plus. If your boss is a hot shot or your client is a hot shot (CEO, CFO, Founder, etc) etc, then fantastic! All of these guys can give great recommendations. While it’s a great leg up, it’s still important for them to convey how you were a business success for the firm. When it comes down to it – how did you bring in money for the firm or save money for the firm? What about people skills – did you facilitate business moving forward through your ability to work well with others? Did the CEO/CFO like you? Or did conflicts ultimately get in the way of business achievement?

How likely are you to get a hot shot recommendation? This largely depends on where you work – it’s rare to get this type of recommendation.

Boss Recommendation: Typically a candidate may have several bosses. As you’ve worked for them, typically they can gauge how well they work with you, how smart they think you are, and how capable of success in the business they think you are. If your boss loves you, he’ll write a genuinely positive recommendation for you – emphasizing certain character traits that stand out. Hopefully there’s one meaningful/impactful project that he can point to and show how you stepped up and contributed. Top business schools stress an assessment on communication skills – both oral and written – this is a fuzzy concept as I described above. But generally, companies with reviews will mention this. In general, make sure you’re on your boss’s good side. Express your opinions. Find common ground with your boss on topics that are interesting to the both of you. Building rapport is important as it creates a lasting impression of you.

Busy Boss Recommendation: In a lot of cases, your boss will be busy and will have to go out of his way to write your recommendation. To make his task easier, jot down key accomplishments you would like him to note in bullet format. Ideally, a recommendation is most meaningful when the recommender can write about a particular instance that allows certain positive character traits to stand out.

Ultimately, applying to business school is a complex process that is long-term (your 4+ years of work experience), challenging, and self-reflective (application essays).

Article Source:

http://EzineArticles.com/?expert=Zeke_Lee

If you regularly attend business networking events then you probably have a large stack of business cards that you carry with you. Many people just carry them in their pocket which results in them handing out bent and distorted cards – hardly a good impression to set!

For this reason any networker should invest in a smart business card holder or case to house their cards and keep them in good condition. In this article we look at the different types of business card holders that are available and help you choose the right one for you.

Leather card holders

These are probably at the premium end of card holders due to them being created from, or at least layered with, genuine leather. This gives a luxurious feel and due to the natural durability of leather they last a long time.

These make fantastic gifts for friends and colleagues but also help to create a good first impression when you meet somebody at an event for the first time.

Metal card cases

These are often smaller and able to carry fewer cards than other holders but they are still quite stunning nonetheless. Available in a variety of metals from chrome to aluminium, these card cases are very strong and look great.

Rotary card holders

You will recognise these from the desks of cops and office workers in movies from the eighties! These rotary business card holders enable you to quickly flick through your contact list with the aid of index tabs. They often hold hundreds of cards so make a great addition to any office desk.

With the advances in technology however, many people are opting to keep their contacts completely digital and as these rotary systems are not designed to leave the office, their popularity is diminishing.

Savvy business people still have one for cases of technical emergencies anyway, allowing them to find the details of that PC repair guy they met a few months back with ease!

Card wallets

These are usually much larger and are designed to store many business cards for the purpose of presentation. A little bit like a photo album, card wallets provide a great place to put all of the cards you have collected over the months and years in one single place for reference.

These have additional benefits other than simply finding contacts; if you are a fan of innovative design like myself you can use these as a place to store your favourite business card designs and use them for inspiration next time you design a new card.

Article Source:

http://EzineArticles.com/?expert=Matt_Saunders

I get lots of questions from different people on “How can all this social media stuff like Facebook, LinkedIn, Twitter, StumbleUpon, Squidoo, Digg, YouTube, Blogs help me?”

So lets first define Social Media, with Wikipedia’s Definition: Social Media is a form of internet marketing which seeks to achieve branding and marketing communication goals through the participation in various social media including writing content that is remarkable, unique, and newsworthy. Lastly Social Media utilizes social networking and user-generated content platforms to promote a product, service or content.

Now that being said…necessary tools for Social Media are bookmarks, blogs, forums, podcasts, networks, communities, wikis. Important and versatile sites are places like Facebook, Twitter, YouTube, LinkedIn, Myspace, Digg, Stumbleupon and Squidoo.

The number one point to remember is this

..Due to Social media marketing being so easy to implement and it being so affordable, it is of significant importance to small businesses.

So where do I start?

By a long shot, Twitter, blogs, LinkedIn and Facebook were the top four social media tools used by marketers, with Twitter leading the pack. All the other social media tools paled in comparison to these top four. Download Social Media Marketing Industry report.

How do I measure the effectiveness of social media?

A significant 81% of all marketers indicated that their social media efforts have generated exposure for their businesses. Check out Social Media Marketing Report. Improving traffic and growing lists was the second major benefit, followed by building new partnerships. A rise in search engine rankings is also an evident increase, as well as a reduction in your overall marketing expenses. Now that is some GOOD news…if your not involved in Social Media Marketing…then it’s TIME!

StartupNation does make a valid point when it says that many small businesses have failed to embrace the opportunities in social media marketing.

If that’s you, then speak with an Internet marketing consultant or do your own research of how social media marketing can help you. It would be beneficial for you and your company.

Last year in February, an article came out on “Social Media Will Change Your business“

It’s a good read with some great links for blog writing. One of the paragraph talks about “grabbing you by the collar, and shaking you into action” and that was written LAST YEAR! All in all there is some important information for newbies and veterans alike. The story of the google employee that got fired is one of them…because it shows how fast social media can work.

Another way Social Media can help your business is the customer relationship.

As a business you would be interested in creating a dialog, direct and immediate feedback benefits, and to learn directly from your customers on what has been successful and what areas need focus and enhancement. Sharing content is the real power and the advantage of using social media. Businesses can keep their online community up to date with news, events and what the business has to offer.

Ezine @rticles has some great thoughts on Blogging, Relationship Marketing, Customer Voice and Social Marketing. Customer Voice is a huge one this year which is where Twitter or blogs have been the most efficient.

Customers want voice in your business…give you feedback.

Relationship Marketing

Is also top in 2009 as a tool to build loyalty, along with a timely response, or you can have a blog and a Twitter account as these all have interaction with the customer. These also allow you to create a personality for your business as well as develop an image as a forward-thinking company that is responsive. Responses include Tweeting back on Twitter, a FaceBook response, sending a personable card, thank-you card and a quick thinking of you card. A top of the line online card system that is extremely affordable and saves you time and effort is SendoutCards. The fastest, most affordable Relationship Marketing tool online with over 13,000 cards available along with gifts and gift cards. You write it, they print it, stuff it, stamp it and mail it for you. Can’t beat that deal!

Facebook for Business!..

Yes you read that correctly…Facebook for business is very real…read this artlcle: Facebook’s Latest Design Update Helps Businesses part of it reads “With the latest evolution, Facebook makes its service more valuable to businesses.”

Here’s another good one to check out: 30+ Apps for Doing Business on Facebook great read from Mashable The Social Media Guide.

What is LinkedIn? and why should I be a part of that?

If you’re running a small Internet business or have a regular brick-and-mortar business, “knowing” the right people and being able to ask and answer questions significant to your business will help you build your network with contacts. Someone you know in your line of business is already on LinkedIn. You just need to set up a profile, start introducing yourself around, join groups and discussions, start discussions with any questions, or answer discussions with your expertise in your area. What a wonderful way to reach beyond the limits of time and travel to someone else who is like minded and able to discuss important things, answer questions all in a few lines.

Never heard of a Squidoo lens before?

A Squidoo lens is a free web page that states what you are interested in…it could be as simple as a recipe if your a restaurant, to as complex as how to take the perfect picture. Along with links to anyplace you want, you can join groups, be a lens master, create as many pages as you want and get the word out!..

StumbleUpon…great name…what does it do?

Here’s how it works. Install the toolbar, identify some categories you like on the web, then hit the Stumble button. The service takes you to a web page that is popular with people who share your interests. You’ve got the option to give that page a thumbs up, a thumbs down or just leave it by hitting the Stumble button again. Over time the service learns what you like and integrates that into the decisions it makes in sending you someplace new when you hit the button. If you’re a small business with very good content, submit that content to stumbleupon. When these people finally will shop they will shop in their local area and an most of them will use Google to do it. Yes you will stand out with a Stumbler in this sea of 10. Try it…you’ll be surprised!

What has Social Media done for me?

I really enjoy meeting new people, creating new relationships, networking along side people with like interests, and using the tools available to generate opportunities and provide insight to help others. As a business owner, I have enjoyed the benefits of Social Media, it’s simple approach with countless of avenues. I also enjoy presenting this knowledge for others to use as it would benefit them by building relationships with other like-minded businesses and entrepreneurs along with keeping their customer base informed of products, generate better customer relations and service.

Social Media has opened a whole new door for businesses and individuals alike.

Social Media is the solution for your business…have you gotten on board yet?

Article Source:

http://EzineArticles.com/?expert=Corinne_Burkhert

Microblogging is quickly becoming one of the most popular technologies on the Internet with adoption of tools like Twitter growing at an exponential rate.

As the number of people using these technologies grows, the way people take advantage of them is becoming more sophisticated: they are being used more and more as a business tool. This article explains what microblogging is and introduces the most popular microblog sites. It discusses how these are being used from a business and marketing perspective and provides tips on safe and effective use of these forums.

What is a Microblog?

Microblogs are very simple internet technologies that allow users to post short statements or sentences, usually limited to 140 characters on a central site. The post can be made available to anyone or only to a chosen audience. Much like the Facebook status box these services were used initially as a forum to share triviality (like what was for breakfast) with a wide audience but people quickly tired of the banality and now the way microblogs are used is becoming more sophisticated.

Sometimes seen as a factor in the evolution of blogging, micro blogs are, as the name suggests, like mini blogs in that they allow you to post information and streams of consciousness and make these available to the world over the Internet. Unlike a blog, however, a microblog doesn’t have unlimited room for creativity – you are forced to get to the point.

Which Microblog?

By far the largest microblog is Twitter (according to Hitwise in Australia alone the popular microblog grew by over 500% new users in one calendar month this summer). Twitter was founded in 2006 and quickly gained attention by winning a prestigious South by South West Blog award in the spring of 2007. Although the site is growing at a tremendous rate, the user volume is still very small in comparison to social networking behemoths like MySpace. Using a simple clean interface, users can get set up and start Twittering really easily.

Another microblog technology that is growing in popularity is Plurk. Plurk differs from Twitter in that it provides a more visual “timeline” interface showing your “Plurks” and those you are following on a time sheet-style screen. Just launched in May this year, Plurk is a little more complex than Twitter to use but once you get the hang of it, it definitely appeals to those left brained people among us.

The omnipresent Google of course has its own version of a microblog which they obtained in late 2007. Jaiku has since been closed to new users as they beta test the latest version (which seems very visually appealing with a nice map interface). Request a beta invite to try it out.

The other major player in the microblog scene is Pownce. This one is very similar to Twitter in its look and feel but it has more capabilities in terms of being able to share files and events. Also Pownce doesn’t limit you to 140 characters so you can add more detail to your posts.

Newcomers in the field Spoink promote microblogging by phone from wherever you happen to be. Nothing new in that since most of the other offerings allow you to post from your mobile but what is different about Spoink is that it features the ability to podcast from anywhere. This is one to watch.

Microblogging for Business

Now that we know more about microblogs and the tools in this arena, let’s take a look at how companies and individuals are using microblogs to benefit their businesses.

The first thing any company or professional should do is to ask themselves: is a microblog pertinent to my business? are my peers using this service? and, more importantly, are my customers either using or listening (monitoring these forums) to microblogs? The early microblog adopters tended to be the youth market and the tech community but more and more mainstream professionals and companies are becoming active as time goes on. If you decide that your audience is applicable then the benefits of microblogging actively are numerous:

A microblog presence is a stellar way to establish expertise and build awareness of what you or your company does. Build your brand by regularly posting on your subject area. Remember to add your logo and branding to the design of your microblog page and link to back to your blog if you have one so that your microblog contacts are aware of it and can click to read more. Threadless, the T shirt company that has made social media marketing an art form uses Twitter (@threadless) to update their audience regularly in this way.

Microblogs are a great way to expand your network and build your contacts. To do so share neat links and always add value for your followers, if you do this effectively you can sit back and watch your contacts expand.

Microblogs provide a good source for the latest information in your industry – if you’re following the right people, that is. Be cognizant of this as you add friends. Check out posts and look for those that add value, are industry luminaries or are using the forum in innovative ways. Network with peers in your industry to develop your knowledge and to build better partnerships.

Microblogs are shorter than blogs and more concise so if you only have a few moments you can hone in on the juicies more readily. If you don’t have time to blog but still have something pressing you want to share, microblogs are a great way to do this quickly and effectively.

Microblog technology can be used to expand the reach of your service and spread word quickly. An example is the police and fire services using Twitter to get the word out in emergency cases. The Los Angeles Fire Department (@LAFD) uses Twitter to spread fire related Tweets to interested parties.

By linking or announcing new articles or changes to your site from a microblog you can drive more traffic to your site. Twitter is now the 4th largest driver of traffic to the Out-Smarts blog.

Use microblogs for research by monitoring what’s being said about your product or industry so you can keep ahead of the pack. It’s also an excellent medium to elicit feedback on an issue you need more information on or are in the dark about. Tweetscan is a very simple tool that facilitates listening.

Some companies are using microblog technology too collaborate on projects with decentralised participants or colleagues in short blasts. The CBC recently did this to great effect on Twitter during the Canadian federal election and were able to incorporate feedback from Twitterers on the ground in many constituencies.

While direct selling on microblogs is discouraged, many companies use it to bring awareness of the existence/benefits of their products and services to new markets or to provide customer service updates. Whole Foods (@wholefoods), an organic food chain headquartered in Texas does exactly that whilst adding value by Twittering on community events and organic topics too.

Effective Twittering Tips

I have it on good authority that the Twitter microblog site is this year’s web 2.0 tool of choice for net savvy professionals to communicate with and grow their networks. Here are some tips for you to use to tweak your “tweets” and get more out of your Twitter presence:

Add value – don’t just spout off about boring stuff. Nobody is interested in what color shoes you are wearing (maybe your underwear but definitely not your shoes!).

Use TinyURL or a similar url abbreviation tool to shorten the length of url links in your Twitter posts so they fit in the 140 character limit.

Don’t spam or sell.

Friends and Followers – be selective about who you follow. Before you follow someone, check out their recent Tweets to see if they are of interest to you before you add them (they may not be of interest at all). If someone starts following you, don’t automatically add them and follow – take a look at the number of followers they have compared to their following If someone is following way more people than they have followers then it may be best to avoid them. They could be “Follow Spammers” more interested in gaining exposure than in finding interesting Tweets.

Don’t let Twitter suck up too much of your time – it can be very distracting. Instead schedule it in to your week and spend a few minutes each day updating and enjoying.

Limit the number of people you follow to avoid Twitter information overload. If you’re following too many people, you might miss that gem of information.

Use Twitterfeed to feed your blog to Twitter.

Monitor the Tweetosphere and make sure you are aware of anyone who mentions you so that it comes to your attention and you can be ready to counter any adverse Twittering. Use Tweetscan to monitor what is being said about you or your company on Twitter.

Don’t click on a link from anyone you don’t know or trust. Many Twitterers use TinyURL or similar to shorten URLs (I do) but this camouflages the true source so you don’t know what you’re clicking on. These could be disguised links to potentially dangerous sites or viral downloads so be careful.

Read the Twitter blog for updates and information on malware and spam issues.

Secure your Twitter name. Get a Twitter profile in your business name before someone else does.

Use common sense when Twittering and remember that most of these announcements can be seen by anyone and everyone. You don’t really have to announce that you’re away from home.

If someone you’re following overloads you with spam then use the Twitter block at the right of the side panel to block them and let Twitter know too.

Call on the community. If something adverse does happen then make your community aware of it. You will be amazed at the support, advice and action of the collective.

Conclusion

If you decide that your business can benefit from microblogging, participation in these sites can really impact your online marketing efforts, drive more traffic to your site and increase brand awareness. Before you start microblogging, take some time to check out the different offerings to find out which is best for you. Once you choose, schedule time to microblog and grow your contacts and always look to add value and tell your community something they don’t know. If you decide to hold off on microblogging for now, keep this on your radar: with its speedy user adoption rate. It’s only a matter of time before, like social networks, these become mainstream.

Article Source:

http://EzineArticles.com/?expert=Mhairi_Petrovic

Look, a soap business can make money. Now if you just want to work out of your kitchen, your potential is limited. But maybe not as limited as you might think. Many people make several hundred dollars a month working out of their homes. Especially during the fall holiday buying season, there is a big demand for handcrafted soap.

Now if you get all distracted about all the licenses and regulations you might have to deal with, you’ll never get started. So don’t let anyone distract you with all that stuff. The first thing you need to do is to learn how to make good soap and how to sell it. As far as I know, our soap business had all the permits and licenses we needed and it wasn’t difficult to do. So it’s first things first.

OK, with a few tools worth about $200, I can make 100 bars of soap in an hour. That’s start to finish.

Two days later that soap comes out of the molds and gets trimmed and put on a shelf to dry.

Four weeks later, I package that soap and it’s ready to go. My total time in making and packaging that 100 bars of soap … 3 hours. It’ll take you longer to start with. I only handle the soap three different times: mix it, take it from the molds and cut and finally package it.

OK, so that’s 100 bars…3 hours to make and package.

Handmade soap will sell for $4 – $6 per bar, depending on where you are. If you’re still with me … do the arithmetic. That’s at least $400 worth of soap you can make in three hours total and then you go sell the stuff. And I can make three batches like that per week with my cheap set-up. Let’s see … 3 times $400… And this stuff almost sells itself if you get in the right places. Can you see the potential of a soap business?

The right places can include many possibilities. I like craft shows with follow-up sales to those who buy at the shows. You can develop a mail order soap business just starting with your sales at the craft shows.

Now if you decide to do a large volume with small equipment this can turn into a lot of work in a hurry. But at a small scale, a soap business can make good business sense.

We sold over 35,000 bars of soap in about four years just working part-time making soap in the kitchen sink. Now think about that. That’s 35,000 bars of soap worth about $4 per bar!

Article Source:

http://EzineArticles.com/?expert=Al_Bullington

Once you are able to buy a food truck, this means that you are ready to start a business. However a food truck business is not always a bed of roses. You can expect the best outcomes from having this business but you must also anticipate the worst. The worst being, the possibilities of the truck breaking down in the middle of your route. If this happens you will lose a lot of money and will leave hungry customers. In this business you must be able to find a very good and efficient truck and you must maintain its good condition.

Here is a guideline that you can take if you want to buy a food truck:

Identify the amount that you are willing to spend for your business. Once you have made a rough estimate on how much you are willing to spend devise a business strategy and a plan that you think will work best for you. You must also be certain on your decision on what type of truck you will be using. Choose whether you want to invest on a used truck or a brand new truck.

Know the importance of asking the food vending business essentials from people who used to own food trucks. Ask them where they bought their trucks and ask them which companies are the most reliable. Knowing these in formation will help you save a lot of time and money.

If you decide on buying a used truck, it is important for you to have a mechanic that you can bring along when you would like to inspect the truck. There may be defects that cannot be determined by a layman’s eye and that only an expert can decipher. The mechanic can help you examine whether the used truck you wish to buy is still in good condition. If you cannot bring a mechanic along, ask the seller to give you time to have the food truck you intend to buy be examined by a mechanic. Bring the food truck to a mechanic and have the food truck subjected to a general inspection before deciding to buy the unit.

On the other hand, if you think that it would be a wiser move and a more practical decision to buy a new truck, make sure that the truck you buy is warrantied and find out the extent and the coverage of the warranty that comes with the truck. Ask all the necessary questions that you need to ask before paying for the unit.

Take the food truck for a test drive. This will let you know determine whether you can comfortably maneuver the truck. Make sure that all the parts of the truck and you can easily see the back view from its mirrors. This is a safety precaution for you. If you think that the truck is different to maneuver, ask for a different unit. You must take note that although the truck is in good condition, if it is something that is difficult to maneuver then it is not good for your business.

Once you have decided which truck to buy, ask your seller for a good deal on the price. Most sellers would cut the truck’s original price twenty percent less. Take advantage of this. Learn the art of haggling but do not haggle too much. Just like you, these food truck sellers are also in the business and need to profit.

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Before we go ahead and give you some specific business startup ideas you need to know what you want to achieve in life because you want your business to serve this purpose each and every day you work on it. It starts with the question: why. Why do you want to start your own business? In order to best answer the question you can ask yourself the following questions. What would I do if I had limitless time and money? How would I like to live my everyday life? What do I want to experience and own in my life? What kind of person do I want to be? What values are the most important to me? How much money do I need to do this? When do I need that money by? These are called your dreams, primary goal, plan of life, etc. It is so important to know the answer for the question why because this is what makes you happy along the journey; knowing that what you do today serves the purpose of your life. In addition by looking at a goal in a further future, helps you not to get sidetracked by some small failures.

A Few Business Startup Ideas

Choose your business model first. Let’s say you want to achieve Freedom and Independence in life so you need to know what type of a business model (vehicle) could take you there. Some people think that being self employed and working for yourself means owning your own business, in fact they own a job. Some popular business startup ideas: creating your own business system from scratch (requires serious business knowledge and capital), buying an existing franchise (requires some serious money), starting your own home based business (MLM, Network Marketing).

The next business startup ideas: I would recommend a business with small start up cost as for your first business. So you do not risk much. Home based business is the typical business model that can be started with small capital and still has the unlimited income potential.

The Next One I Consider One Of The Most Important Business Startup Ideas

Start your business part time without giving up your current job. Every business needs some time to make profits so you need to be able to support yourself and your business along the way. Network Marketing is easy to do part time.

Try to start a business model where you can produce profits with the least energy input and the least tasks required. The easier the business you choose the more likely you will be successful. In MLM you do not need to take care of hiring and firing employees, delivering, etc.

Owning your business has some incredible tax advantages giving you additional business startup ideas. Basically a business pays a percentage of its profits as tax. If you have your own business you can reduce your profits by any expenses that were spent in order to make more money; this is up to the profile of the business. What I am pointing out is this: start a business which is suitable for writing off your personal expenses as business expenses so that you can reduce your profits a lot and pay the least taxes possible. Many people start their home business only for this advantage.

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First impressions count and if yours is poor, you might not get a second chance. Therefore, when you meet a new business contact, you have got to get it right first time. Every little detail is important, from the quality of your business card printing to the shine on your shoes. Make sure you don’t leave anything to chance and follow our tips to make sure you leave a good impression on everyone you meet.

Look professional

People make judgements very quickly when they meet new people and the vast majority of those judgements have nothing to do with what is said. Whether we realise it or not, most of us are driven by visual cues. If you look scruffy and unkempt, your business contact will assume, whether consciously or not, that this is reflected in you business. A smart professional appearance gives a good impression and encourages people to do business with you, or at the very least listen to what you have to say.

Tone of voice

Once you have passed the visual scrutiny, or if you are making your first contact by telephone, you can rest assured that the quality of your product or service is all that matters, right? Wrong. Your tone of voice is the second most important factor in creating a good impression. Make sure that when you meet someone for the first time your tone reflects confidence, enthusiasm and professionalism. If this doesn’t come naturally to you, it is well worth practising as it could make the difference between a new client and a rejection.

Think carefully about your first words

Once you have your appearance and tone of voice sorted, you can finally begin to think about what you are actually saying, and think about it you must. People tend to make snap judgements based on the first few moments of an encounter. The first sentence or two that you utter are likely to be the most influential, so make sure that they count.

Work on your body language

Body language is a powerful tool. Make sure that yours matches what you are saying. If it doesn’t, people may not trust what you are saying. It is hard to judge your own body language, so it is a good idea to ask a colleague to observe and appraise you.

Use people’s names

People love to hear the sound of their own name. When you are introduced to someone, make sure that you use his or her name during the ensuing conversation. It will make them feel valued, and instantly create the sense of a relationship between the two of you. It is also a great technique to help you remember names, so it serves another purpose too.

Be prepared

Always be prepared for a meeting, whatever situation you are in. This means having business cards and company brochures at you finger tips so that you can always make new contacts and show the business off. You may only have a brief opportunity to promote the products or services you offer, so the printed material your contacts take away is extremely important. Use high quality booklet printing to ensure that your brochures continue to impress your contacts long after your meeting is over.

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The whole point of computerizing a business is to increase profits, save time, and increase efficiency. With a basic understanding of a what a computer can do, you will begin to see the many ways that computerizing can increase the profitability of your business. In the course of this series of articles, I will show you why a good computer system (hardware and software) should earn you at least a 300 percent return on investment annually.

A “Point-of-Sale” (POS) system refers to a computer with specialized software that can act as an electronic cash register, but also maintains and integrates inventory records, sales records, and other data. The beauty of a “Point-of-Sale” system is that all of the information is generated at the sales counter when you ring a sale.

Inventory Records

Computerizing your business means that all inventory updates happen instantly and automatically, and that inventory data can be freely accessed and used. When you sell an item, the on-hand count is reduced. If the customer returns that item, the on-hand count is increased. Using this information, along with past sales history, the computer provides a Reorder Report, which lists merchandise that needs to be reordered. You can then select the items you would like to order, and the computer will prepare a Purchase Order. When the order arrives, the quantities are entered into the computer, and the on-hand counts increase automatically. If any items are backordered, such items remain on order in the system.

Sales Records

A computerized business also means that sales records are immediately stored and organized, and available for evaluation. When you ring up a sale or service, the computer calculates the total cash receipts, credit card sales, sales tax and accounts receivable. At the end of the day, you have a complete list of all transactions and a summary of cash and credit information. The computer is also collecting profit, and commission information. Using this information, the computer provides sales, sales by department or category, profit, margin, markup, accounts receivable, payroll, and commission reports. It also generates account statements and invoices.

Customer Records

Customer records are also maintained in an automated business. The computer stores the transaction information and provides reports that list customer purchase history, merchandise rented, and account charges and payments. You can also print mailing labels and personalized letters. This makes it much less time consuming to send out service reminders, special sale announcements, invoices, account statements, and so on.

Conclusion

This is just a brief overview of what a computer/point-of-sale system is capable of. Such a combination can have a powerful impact on day-to-day business functions. A computer system can simultaneously accomplish tasks such as calculations, record-keeping, organization, and inventory control, in a matter of seconds, where manual record-keeping would require a step-by-step, time consuming approach with much more room for error.

Watch for the next three parts to this series, as I will go into more detail about the benefits of computerizing, including controlling your inventory, policing your profit margins, and more.

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We are already in the know on how powerful the world wide web is. Practically everyone in the world goes online for different purposes. That is why the wise, smart and practical make use of its’ power and establish money making ways for them to earn profit.

There are many available websites right now that can help you on how to build a successful online business and these are sure fire ways because they have already been tried and tested by many. With an online business, you need not go through the hassle of putting exhaustive research on where the best location is, all there is to do is have your own computer and an internet connection that is stable enough to sustain you while doing this venture.

Having your own web page is a good start because this will give you the liberty to tailor fit it to your personal taste and create a product or service that is your business’ focal point. Be creative with how you describe your product to catch online people’s attention.

If you are a novice with doing business online, you can go for the most well-known business there is. And currently, the Affiliate Marketing Business type has proven itself to be the most successful in this field and people have undoubtedly find success by using this.

If you put yourself out there as the kind of business that refer the greatness and effectiveness of a certain product or service, it is without a doubt efficient as it is your reputation that is on the line. Amazon. com is one of the famous examples of this model and look at it now. Customers gain more confidence on the website’s referral as no one in their right mind would refer something that is of poor quality, be it a product or a service. With these referrals, traffic to your website will potentially increase.

This kind of marketing has grown leaps and bounds over the years and have seen a lot of websites that have used it to grow more successful by the day. They are earning huge money every month and with this kind of marketing, you are gaining a lot more than money. Experience and information that you gain every day will help you in the long run.

So if you choose this, you must buy your own domain or establish your own website.

Another successful business model in the online business is selling information products. The very essence of this is being able to make your own report or e book about a certain subject. This in turn would be marketed and sold online. These are your own self-made writing piece so do not make it plagiarized.

So there you go, you just had a look at the two successful online business models that you can take inspiration from. They are tried and tested and have been around for a very long time. They have proven to be effective. Follow this suit and you can earn success in the form of profit and loyal customers.

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http://EzineArticles.com/?expert=Alfred_Hill