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See how a sporting event can benefit the local economy?

admin — Mon, 01 Mar 2010 05:05:49 +0000

Whenever there is an economic blow, one of the first ones to get affected is the local economy. The hotel and retail industries are very vulnerable to bad economic conditions. But when a big event, like a sporting event, takes place in the affected country or city, it is expected to create some wealth for the city as there are more visitors to the city which is expected to boost business. Here are some ways in which the increased visitor traffic during a big sporting event, such as a World Series or a Super Bowl is going to boost up the economy of the host city.

Hotel Bookings

The first industry to see an increased business during a big sporting event is the hotel industry. The players, celebrity guests and outstation spectators will all need places to food and lodge and they book hotels and guest houses for that. This is the time, the hotel industry sees increased business. The hosting country cleverly holds the events in tourist locations so that the visitors also would like to stay back for a longer time for sight seeing after watching the event. For example, Super Bowl XLIV is expected to be held in sunny Miami, Florida. Even a one day event can spin a lot of money towards the hosting cities and if it’s a series like the World Series, one can expect the profits to simply rock !

Hotels make a lot of money by hiking up the rental charges of their rooms. After all, visitors who’ve traveled long to watch an event will not hesitate to pay a bit more, if within reasonable limits.

Restaurants and bars are the next lot that are going to benefit a lot from sporting events. The bigger the sporting events, the greater the profits. People love to revel with food and drinks during an event and they literally depend on restaurant food and bars for their party requirements. The food industry professionals make the best of this and increase the prices of menu items and drinks. This is how they make profits during any big event like the world cup. Sports bars and pubs are also going to benefit well because people who cannot actually make it to the stadiums will want to watch the event on big television screens of sports bars and pubs.

Gentlemen’s Clubs

Gentlemen’s Clubs are the next place which make good profits from sporting events. Who doesn’t know that most men go crazy over soccer or any other sporting event? Super Bowl draws huge crowds who visit the Gentlemen’s clubs which prepare themselves for entertaining the guests who come for attending the event.

Location of a sporting event is of utmost importance. The events pump millions of dollars into the local economy of the hosting town or city. now I understood why most places compete for hosting events. So if there is a big event to be considered a suitable venue for its hosting would you like it to be your city or town?

Business Cards That Small Time Business Owner Should Opt For!

admin — Mon, 15 Feb 2010 06:31:05 +0000

As banks have become very stringent with their money lending policies, small business owners are having a tough time meeting their financing needs. Over recent times, the bank lending seems to have reduced by $11.8 billion on the whole by banking and other financial lending organizations. So what should small business owners do for procuring their monetary funds? Obviously they should bank on some credit cards. But which credit cards are going to be of maximum benefit to consumers is quite difficult for the business owners to find out especially when there seem to be so many companies claiming to offer the best facilities to the consumers. Billshrink , a leading financial website and blogging network, has come up with an infographic recommending the usage of certain credit cards. They have furnished the details of each and every card they have recommended so that you know exactly why those cards are recommended.

American Express Open Gold Card

This is the first business card recommended by Billshrink. Let’s see why:

If you spend $50,000 annually, you’ll get a bonus of $25,000 annually
Earn a point for every dollar you spend on purchases
There’s no limit on the number of points you earn
The annual fee is only $125 and this is free for the first year.
There is no predefined limit on your expenditures by using the cards.

On the whole, good earnings and spending freedom are factors that are in the favor of the consumer. The total reward value that you get is estimated to be $10, 189 which is three times more than the normal value of $ 3,600 which you usually get on other credit cards. You also get to earn an extra $6,589 over three years in comparison to the normal business cards.

American Express Open Gold Delta Skymiles Business Card

This is the next business card that has been recommended by Billshrink for usage by small business owners. This card has a lot to offer and the value of rewards is $8,328 in comparison to the regular cards which give you a rewards value of only $3, 600.

Like the previous business card there is no predefined limit on your expenditures. Also as in the case of the previous card, there is no limit on earnings.
Attractive bonuses can be earned for first time as well as annual purchases.
You can earn an extra $4,728 in about three years time which is much more than what you can earn over your usual card over the same period of time.

Bank Of America Hawaiian Airlines Visa Business Card

This is the last of the business cards recommended by Billshrink, which small business owners can be used for meeting their monetary requirements. The value of rewards is $ 8,048 which is lesser than the Delta card. Your additional earning is $ 4.448 over a period of 3 years which is less than what you’d get from the Delta card for the same period of time. The sign up bonuses and purchase points are also much lesser than that of the American Express Delta Cards.

Is India The Land Of Opportunity Of The Future?

admin — Mon, 08 Feb 2010 06:31:35 +0000

With the Western Economy having suffered a setback due to the recent economic recession, the focus of business persons has shifted to Asian countries for better economical prospects. While China and Japan are almost at the focal point, India, a fast developing country is not left behind. It is being considered as a new-age land of opportunity in the global economic circles. The country with over 1 billion people was not actually included in the list of major economies of the world. Economically, India was like an island that was cut off from the rest of the world. The changes in the world economy hardly affected India and vice versa till a decade ago. But now, in the last 4 to 5 years, there was rapid improvement in foreign investments in the country which had risen from $100 million in 1991 to $19 billion in 2007-2008. With increasing foreign investments, India has assumed a prominent place in the global economy in the present days. India has seen remarkable industrial growth, intellectual and academic developments, socio-economic improvement and rise in per capita income. India was quite immune to the recent western recession. No wonder, India looks promising enough to be considered the futuristic hub of opportunities.

India Is Now Emerging As A Fertile Land For Professionals

Until the last few years, brain drain was a major challenge that India faced. Better opportunities, work satisfaction and wealth from distant lands eroded the country of its vital intellectual resources. Most college students and professionals left their motherland for greener pastures elsewhere. But now, the scenario is changing fast. Political, ethnic and religious disturbances are making it difficult for Indians to continue their education or get established elsewhere. The western economic recession has deprived many people of job opportunities and also earnings. Many have returned and more want to return home now.

Apart from these discouraging factors in the external environment, the socio-economic improvement in India has served to retain and attract many of its citizens within and from other countries, respectively. The significant advancement in the Information technology sector has made it an integral part of the best business- tech circles of the world. The world is eager to invest in Indian technological ventures. Also, the per capita income and standard of living have risen in recent times. The Indian middle class can now afford commodities of comfort like an air-conditioner or a small car.

In the historic times, though the cast system did play a role in limiting the professional choices, things have taken a U turn. Now, India has become a land of equal opportunity. Members of the formerly-deprived casts, are now being provided admissions in academic institutions and employment through reservation quotas. Even otherwise the boundaries have disappeared and every Indian is free to pursue a profession of his/her liking.

Nowadays, though the craze for a foreign degree or migration remains, particularly to the Western and Gulf countries, a sizeable proportion of the population is considering greener pastures nearer home.

What Makes Some Foodies Stand Out In The Crowd?

admin — Tue, 27 Oct 2009 06:59:36 +0000

If you are a fresh foodie, you must be thinking about different ways in which you can make it big in the industry. Owing to tough competition, just good quality products and service is not enough because most of your competitors are already offering that satisfactorily to lots of consumers. In order to make people recognize you and come to you, you should be innovative. Think about ways in which you can set yourself apart from the rest and gain customers on that. Here’s what Jim Farrel, CEO and Founder of f’ REAL FOODS, makers of readymade milkshake has done to prove himself different from the rest.

Standardized the Recipe

You might have noticed that you might not like the milkshake made at one dairy parlor as much as that made at another. This is because different chefs mix the shake in different consistencies using different ingredients in different proportions. In order to overcome this variation and bring uniformity in quality and taste, Farrel opened franchise outlets which mixed the milkshake according to standardized directions, so that you get the same taste and quality at every franchise outlet regardless of your location.

Made the Workplace a Pleasure to Work With

Farrel understood the secret behind quality work output. He knew that workers will bring out their best only when they are motivated from within and they’ll get motivated only if you provide a joyful working environment. He did that and his employees longed to visit their workplace everyday and contribute their best. Can there be a more successful manager than Farrel?

Focused on the Achievable

Setting goals is not enough for success. You need to meet them. Farrel identified achievable goals because ultimately they are the ones that are going to make a difference to your business. Forget about those goals that you cannot achieve. You’ll never be able to meet them. Prioritize and then work upon them. You’ll achieve sure success in the shortest time possible. Remaining focused on achievable goals was rather the biggest challenge that Farrel ever came across in his career.

Thought Creatively On Utilizing Limited Resources

As many investors were skeptic on joining hands for starting the business as they felt that Farrel and his team were inexperienced to understand the risks of the milkshakes and category beverages business, Farrel did not have enough resources to fund the business. He had to do some constructive creative thinking to grow the business with limited resources.

Incompetent Business Advisors and Staff Were The Biggest Mistakes

Farrel says initially he had listened to advice from an incompetent business ‘expert’. This along with a couple of wrong hiring choices made him lose out on time and money in the beginning of his business.

Formulated a Success Mantra

According to Farrel, your business success recipe is based on three ingredients, i.e. a good idea, an efficient workforce and unflinching persistence at the time of uncertainty.

Follow the success path of Farrel and you’re bound to be successful in your business. All the best!

Read Farrel’s interview on smSmallBiz.