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Profit in business comes from repeat customers, customers that boast about your project or service, and that bring friends with them. Business, that's easily defined - it's other people's money.
How Can I Use Networking to Build Business Relationships?
The best business and career opportunities often come through networking, so it’s important to learn how to network effectively. Begin by thinking about those professionial or personal contacts you have a friendly and respectful relationship with. That’s your core network. You can add to your network by asking those in it who they might know who would be interested in what you’re selling, or who might be able to connect you with the right people if you are job hunting.
Do your background work on potential leads so that you come across as knowledgable and professional. Take your prospect to lunch, take copious notes, exchange business cards, and remember to pick up the tab if you are the one who initiated the contact. Networking is a lifelong process that builds slowly, so be patient and willing to help others along the way to create win’win connections.
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I.B.M. - Tops Forecasts for the Quarter.
I.B.M. reported a solid 12 percent gain in net income for the fourth quarter, bucking the trend of steep declines for many technology companies amid the economic downturn and surprising Wall Street. The company is seen as a bellwether of global technology spending among corporations.
Yet its strong performance in the fourth quarter, analysts say, mainly points to the success of its strategy in recent years of tilting toward higher-profit software and services and reducing its reliance on the computer hardware business, which suffers more in down economic cycles.
I.B.M.’s hardware sales did drop 20 percent in the quarter, but that weakness was more than made up by strong results from the company’s far-larger services and software groups. Some analysts had predicted that I.B.M. would announce as many as 10,000 staff cuts, or 3 percent of the work force, to trim costs in a weak economy.
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Starbucks brews first China blend to perk up business.
U.S. coffee chain Starbucks, keen to boost business in China, is brewing ahead of the Lunar New Year a limited-edition blend that includes, for the first time, Chinese beans. The “South of the Clouds” blend, named after the Mandarin meaning of the semi-tropical, southwestern Yunnan Province, was unveiled in Singapore on Monday, a week after its Greater China debut.
The coffee blends arabica beans from Latin America, Asia Pacific and the western Baoshan region of Yunnan, the main coffee-growing province in China, the ancient homeland of tea. Coffee grown in Yunnan, which borders Asia’s top coffee producer Vietnam, has been available in China for over a decade. It is often sold as a cheaper alternative to imported beans.
The blend offers an opportunity for Starbucks to expand further in one of the world’s biggest economies. Starbucks opened its first outlet in mainland China in 1999 and its president, Martin Coles, told Reuters last week the company sees China as one of its fastest growing markets, even as it closes down stores in other markets racked by recession source
Economic depression cannot be cured by legislative action or executive pronouncement. Economic wounds must be healed by the action of the cells of the economic body - the producers and consumers themselves. One more thing is in the business world, everyone is paid in two coins: cash and experience. Take the experience first; the cash will come later. Remember, a business that makes nothing but money is a poor business.