10 Ways to Run a More Successful Coffee Shop Business

10 Ways to Run a More Successful Coffee Shop Business
Being a fan of coffee is one thing, but running your own coffee shop is a whole different situation – it’s not about the love anymore, but about business and turning your passion into a way to make money. However, running a coffee shop isn’t easy and you have to invest a ton of time and effort into turning it into a place people are going to visit on a daily basis. If you too are thinking about opening a coffee shop, here are 10 Ways to Run a More Successful Coffee Shop Business that might help you make your coffee shop the most successful one on the block.

You may also like to refer to: Success Factors for Small Business

10 Ways to Run a More Successful Coffee Shop Business

#1 Find the right place

Since so many people drink coffee every single day, the number of coffee shops everywhere around us is booming, which means you can hardly find a street without at least three of them. That’s ultimately the worst scenario you could imagine; the competition will kill your business and make you regret the day you wanted to be a coffee shop owner. However, if you think about this for a while and pick the right spot for your coffee place, you could make a fortune in no time at all. So, look into unexplored locations in your area, and open your coffee shop right there!

#2 Define your niche

Most coffee shops welcome all kinds of people, and that’s the best way to make a ton of money, but what if you went the other way? Defining your niche and focusing on just one sort of customers might seem like a huge waste of money at first, but it’s actually a way to maximize your income by attracting more and more people month after month. Keep in mind that the power of word-of-mouth marketing is stronger than we realize, and as soon as your customers realize how amazing your coffee is, they’re going to recommend it to their friends, and that’s the road towards big money.

Please do refer to: Tips to do well in New Business Venture

#3 Define your goals

Having big dreams and wanting to make a ton of money is quite all right, but how realistic are these plans? Instead of dreaming, you should spend time actually doing something, and defining your short- and long-term goals is the first step towards realizing all your dreams. Knowing what sort of coffee you’ll be serving, what sort of customers you’re hoping to attract and when you’ll be ready to expand are just some of the things you need to be 100% sure of before even opening your coffee shop, so dedicate some time to these thoughts first.

#4 Great coffee before everything else

If you wish to be the best at any business, you have to offer great product; this goes for coffee places as well. Maybe you could attract a regular crowd, but the chances they’re going to keep coming back to you if you have lousy coffee and drink it day after day are slim. That’s why you need to give them the best possible product and build your brand around that. You have to get your coffee only from reliable and professional coffee suppliers who’ll be able to give you and your customers amazing coffee experience every day of the week. Once the people see what an amazing coffee you offer, they’ll continue coming to you and even recommending you to their friends, and that’s the best marketing you could wish for.

#5 Find the right Quality Manager

This is something that separates average and amazing coffee shops – hiring a quality manager isn’t something all business owners do, but it’s a vital step. These are the people who know everything about coffee and what makes it good, but they also know what the customers what and can therefore make certain changes in the menu. They also make sure everything runs smoothly and that there’s always enough coffee before the morning rush, so their role is enormous and the change they introduce is quite valuable.

#6 Loyalty cards for regular customers

Most people don’t know that the success of a coffee place depends on the number of regular customers. In other words, attracting new people is always welcomed, but it’s the regulars that will keep your business afloat in the years to come. That’s why you should reward them and offer them something special. Most coffee places use loyalty cards that are basically the way to get connected to your regular customers on a deeper and more meaningful level. These will get them a free cup of coffee every once in a while and a chance to look good in front of their friends, yet won’t harm your budget too much in the long run.

#7 Local sponsorships

Most small coffee shops usually don’t think too much about marketing, which is why they don’t use their full potential, but if you explore the world of promotions and sponsorships, you might reach more customers than ever. Coffee shops usually sponsor local sports teams, giving each one of their fans a special discount on all purchases. Again, this won’t set you back at all, although it seems that way at first, and you’ll be selling more coffee than ever.

Interesting article: How to Start a Business with No Money

#8 Start a web page

You can’t run a successful business in this day and age without a proper web page, so start thinking about one as soon as possible. It could be as simple as you want, but keep it visually appealing, intriguing and, above all, informative. It needs to tell your customers where you are, what you offer and what your prices are, and that’s more than enough for them.

#9 Get into Social Media

Once your website starts working and attracting attention, you need to take the next step and get interested in social media too. Connecting to your customers over Facebook, Twitter and Instagram is easier than ever, and it’s an amazing way to get feedback and promote your business at the same time. So, start learning what your customers think of you and offering your most active followers additional discounts and promotions.

#10 Update your technology

Making coffee isn’t the same as it was ten or fifteen years ago, and you have to follow the trends if you wish to be successful. Getting new coffee makers from time to time and constantly offering new types of coffee will make you different from your competition, and ultimately more successful. So, don’t be afraid to explore new things, keep on perfecting your skills and investing in new technology.

Running a successful coffee shop isn’t easy and you have to think about a lot of things, but, if you love drinking coffee and exploring various types of it, it’s probably the best job in the world and an adventure of a lifetime.

Article contributed by: Peter Minkoff

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Financial Analysis of Indian Healthcare Sector

Financial Analysis of the Healthcare SectorThe Healthcare sector is becoming one of the largest sectors in India in terms of employment and revenue generation. The Healthcare sector consists of various services and infrastructure which include hospitals, clinical trials, medical equipment and devices, tele-medicine and outsourcing, health insurance and medical tourism. For the potential investors and business houses study of financial analysis of Indian Healthcare Sector is becoming increasingly important.

Importance of Financial Analysis of Indian Healthcare Sector

The rapid growth of the healthcare sector in India can be attributed to its comprehensive and increased coverage, increase in public and private expenditure in the healthcare sector and increase in various healthcare services. With many Indian healthcare industries listed and traded on the share market, more and more Indian companies in the health sector are entering merger and acquisitions with domestic and foreign companies to drive growth and gain new markets.

The Indian Healthcare Sector

The Indian Healthcare sector can be categorised into public and private sectors. The public sector managed by the government consist of limited primary and secondary health service in urban regions while it focuses in the rural area is to provide primary health care services and facilities such as primary healthcare centres. Whereas, the private healthcare sector contains a significant proportion of primary, tertiary, secondary and quaternary healthcare services and institutions majorly concentrating in the urban Tier I and Tier II cities.

The competitive advantage India’s healthcare sector is its vast pool of well-trained medical professionals, medical services being much economical as compared to many Western and Asian countries with the cost of surgery in India costing the only 1/10th of the in the United States or Western Europe.

Market Size of India’s Healthcare Sector

India’s healthcare market is predicted to grow three-fold to over US$ 133 billion by 2022 with the Indian healthcare sector experiencing a growth rate of almost 25% annual growth in medical tourism, and same expected to be worth US$ 6 billion in 2018. The hospital industry in India stood at over US$ 62 billion in 2017 and is estimated to grow at a compound annual growth rate of 16-17% by 2023, expected to reach US$ 132 billion.

In India, there is significant scope for growth and advancement of healthcare services as the allocation of healthcare budget is increasing annually. The Rural regions of India where over 2/3rd of the Indian population reside is a potential source of demand in these regions. The Indian Government provided a grant-in-aid in 2017 for setting up of AYUSH educational institutions in States and Union Territories.

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Investment

Between 2000 and 2017, the healthcare sector in India attracted almost US$ 5 billion in Foreign Direct Investment (FDI) in various diagnostic centers and hospitals. Some of the recent investments made in the Indian healthcare industry are as follows:

  • A MoU or a Memorandum of Understanding was signed between Cuba and India to increase cooperation in the areas of health and medicine.
  • The de-merger of its hospital business with Manipal Hospital Enterprises has been approved by Fortis healthcare. An investment of over US$ 600 is expected to be made in Manipal Hospital Enterprise.

Initiatives by Government of India

Some of the significant steps or initiatives undertaken by the Indian Government in promoting the Indian healthcare industry are as follows:

  • Based in a helicopter, the first every “Air Dispensary” in India will be launched in the North East Region and the project has received a funding of over US$ 3 million from the Ministry of Development of Northeast Region.
  • The Indian Government has launched an immunisation program called the Intensified Mission Indradhanush whose mission is to enhance reach and coverage of immunisation and ensure every child under the age of two and every pregnant woman is benefited with the routine immunisation programme.
  • The National Nutrition Mission was set-up the Union Cabinet with a three-year period budget of over US$ 1.4 billion to give direction to nutrition-related initiatives across all states.
  • The Indian Government has committed to increasing total healthcare expenditure from present 1.15 per cent of the GDP to 2.5 per cent of the GDP by 2025.
  • The Union Cabinet of India approved the continuation of National Health Mission with a budget of over US$ 13 billion in March 2018.
  • The Indian Government approved to sign various MoUs with the medical agencies for different BRICS nations for increasing cooperation in the field of medical research and pharmaceutical products.
  • The Indian Government apprised the signing of MoU with the WHO to for improvement of the public health sector in India.
  • In May 2018, the Indian government approved a budget of US$ 170 million for setting up AIIMS, better known as the All India Institute of Medical Sciences in Deoghar, Jharkhand.

The Road Ahead

The Indian healthcare market is full of opportunities for the players in the medical devices industry. The Indian healthcare industry is one of the fastest growing sectors and is expected to reach $275 billion with a decade. Many private healthcare companies are expected to come up with an IPO and trade on the Share Market. India is also becoming one of the leading destinations for high-end diagnostic services with enormous capital investment in advanced diagnostic facilities, thus being able to serve to a more substantial proportion of the population. Besides, the Indian public or the consumers of medical service are becoming increasingly conscious towards the upkeep of the health.

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The competitive advantage of the Indian healthcare industry also lies in the increasing success rate of Indian companies in obtaining the Abbreviated New Drug Application (ANDA) approvals. India also offers vast opportunities in research and development along with medical tourism. In conclusion, India has vast potential and numerous opportunities to invest in healthcare infrastructure in both urban and rural India.

Article contributed by: Prajakta Pingulkar

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No Money To Start A Business?

No Money To Start A BusinessThere are times when you have no money when to start a business, but that is not the end of your journey towards success. To become successful in a business project, you have to be excited about it. In case you are looking for Ideas to Earn Money as an Entrepreneur then you may click on this link as well.

You have no Money to start a business

Even though it might sound weird, but it is possible to start your own dream business with little money in your pocket.

How to start a business with little money?

For that, you just need the right combination of work ethics, skills and marketing ideas. If that’s the case, you can think clearly about all the skills you generally have now and how that can prove to be helpful to others. You will further know what you can perform by combining your skills to get a desired result in the end. Following some simple guidelines is what you need to start business, when you have little money or practically nothing.

You may also like to refer to: Tips to do well in New Business Venture

1. Make something

Well, it sounds general, but it is so important to know. It is true that starting something will take some initial costs in supplies, but most of the time, these items can easily be sold for many times over actual cost. Whatever you are trying to decide is up to you, but there are so many other places, where you can sell some of your handmade options online.

  • You have some centers working on organic and natural goods like candles, lotions, granola and more such items. So, if you are planning to sell such organic items, the online source has something for you.
  • You can further try out Etsy, which is one of the largest globalized online markets for almost anything made at home. Right from jewelry to wooden toys for the little ones out there, you can sell anything in this platform.
  • Another place for selling your handmade items is Bonanza, which is more or less similar to Etsy. Some studies have indicated that this source boats more than 10 million visitors every month! So, you have higher chances of selling your items here.
  • You might have heard about eBay, one of the biggest e-commerce markets in world. It has a streamlined store options, with customized listing options and easy checkout through PayPal. Therefore, it is a perfect platform for selling your noted items.

There are so many business owners, selling items on multiple platforms for procuring maximum exposure. But, it is always important to ensure that inventory remains updated on every site you have storefront. In case you are planning to learn more about the resources for selling your homemade items, you can always check some online posts for gaining ideas.

2. Re-sell something

There are so many times when you might get into debt while associating with business deals. You can check out debt consolidation reviews for some ideas or just try to resell some of your items. On the other hand, if you don’t have that creative mindset to make anything, even then you can grow your business by just reselling items from other branded manufacturers. This can work its way through various channels or ways.

  • Drop shipping as the best option: You have to set an online store and partner with drop-shipping firms, focusing on all order fulfillment for you. Some of the online e-commerce platforms will have great drop shipping guide.
  • Garage sales and thrift stores: if you are well-aware of the place to find best items, then you can get some from flea markets, antique shops, thrift stores and even from garage sales. Once you purchase items from these centers, you can resell them online or in local community for more than what you have purchased it for.

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3. Sell your promising services

One best way to start business with no startup or very little capital is by selling services rather than going for physical product. There are huge varieties of services you can easily offer, which solely depends on interests and backgrounds. Some options might require advanced degrees like accounting, and then you have others with little more than just a basic working knowledge on how it might work, like law mowing, babysitting or personal assistance.

  • As you are selling services, you need a branding plan. It ensures that you and your company’s name get in front of people, whom might need your service. There are some free spaces available, where you get to promote your services. Some of those are Skillshare, Fiverr, Elance, Craigslist and more.
  • It can often be a promising task to have websites, for showcasing some examples of your hard work. You should list experiences and then start blogging about industry to draw visitors. To learn more about online marketing and branding, you can check out social media blogs from Hubspot and Buffer, CopyPress and even from Content Marketing Institute.

For further reading, please refer to:

4. You have to barter to get your requirements covered

It is quite unfortunate if you don’t have any fund and still planning to start a business. You need at least some funds. Even when you are planning to create freelance writing business using free Wix or WordPress websites, you still need a PC to work on with some strong internet hold. However, there are some ways you can get your needful supplies when planning to start business without any economic help. Let’s take an example for better understanding. If you are in need of a proper second-hand laptop, you can try bartering for it. You might create new online site for electronics supplier or can be a nanny to little kids for your neighbor to get his old laptop.

5. Start utilizing some low cost services

As already mentioned few points earlier, you can try taking help of sites like Elance or Fiverr for advertising your services and products. Moreover, you can use the same platforms for building your own company. There are so many designers offering logo designs within petty rates like $5 to $25, which comes handy with free revisions. You have to sort by reviews and look at their past examples to find designer that matches your style. It is a great way to start working on branding materials.

Article contributed by: Isabella Rossellini

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Smart Steps to Earning Profits from Stock Market

Smart Steps to Earning Profits from Stock MarketInvesting in stocks is a healthy way to grow wealth. It can be a source of passive income, active income or both. If you have been hesitating so far or are new to this idea, you may ask, “How to actually start and how to earn from Stock Market?”; “How to Invest?”; “How to buy stocks”. Therefore, it for individuals like you, we bring Smart Steps to Earning Profits from Stock Market. Also at the end of this blog, there is a short video about these smart steps to earning profits from stock market.

Consider them thoroughly and follow these steps to begin. To get a bigger picture on the subject, it is recommended that you read the following articles also:

Smart Steps to Earning Profits from Stock Market

Step #1 Choose your investing style

Decide that you would like to:

– Do the investment or trading yourself or let a professional do it for you

– Be a value investor or a trader. Again a trader can be Swing Trader or Intraday trader

Recommended reading: Five Steps to Investing in Stock Market

Step #2 Choose between Stocks and Mutual Funds

Look at your resources in terms of time available, relevant knowledge and risk appetite. After giving a careful thought, then decide between:

Investing or Stock Trading in Individual Company’s Equity Shares

OR Mutual Funds

OR A combination of above two

Step #3 Decide on a budget

To begin with invest only your surplus funds as no one can be hundred percent sure in predict the volatility of the market or individual stock. If at a young age, you may keep higher percentage in equity, if near retirement, keep higher percentage of your investment in debt funds.

This is one of the very wise advice or tips which you might not get from a stock broker, investment adviser or share broker who is first interested in earnings commissions.

Step #4 Acquire necessary knowledge and develop stock trading skill 

Jumping into the stock market business straight away is like, jumping into the sea without knowing how to swim at all. If you don’t want to take chances with your hard earned money then:

1. Learn the basics of Fundamental Analysis and Technical Analysis. This will help you pick the right Mutual Fund or Share.

2. Begin by screening and filtering the right stocks using Financials – Fundamental Analysis. Prepare your own shortlist of favorite stocks which meet some important criteria like PE (Price Earnings Ratio), Industry PE ration, EPS (Earnings per Share), Sales, Profit and Loss, Debt Equity Ratio, Assets, Liabilities, Reserves and Surplus, Moats, Profits, Dividends And Retained Earnings, Compound Annual Growth Rate (CAGR) etc.

3. Technical Analysis – to time the market, you may use different tools and indicators.  The popular among them are Price Trends, Relative Strength Index (RSI), chart patterns. Simple Moving Averages, Exponential Moving Averages (EMA), Support and Resistance, Trend Lines and momentum-based indicators.

4. Do paper trading ( dummy trading) till you develop confidence and perfect a unique stock trading model.

I dare say that this is one of the most crucial steps to not only earning profits from Stock Market but also surviving, which means protecting your capital.

Step #5 Open a Trading Account and a Demat Account

It is important to choose a Brokerage house which gives efficient service yet it is cost effective in terms of commission charged on transactions and annual fee. This will have overall effect on your profitability. Some of them also provide good investor research and analytical tools.

Step #6 Take informed decisions only

Based on your knowledge, trading skills and individual style scan and choose right scripts only. Also select the right time to pick a stock and right time to book profit and exit.

Let there be no room for:

  • Emotions
  • Herd mentality
  • Unverified tips
  • Greed
  • Fear

Step #7 Have feasible expectations from Stock market

Be in stock market for creating wealth. If you have unrealistic expectations of becoming rich overnight, you might burn your fingers very badly.

Step #8 Diversify your portfolio

Diversification of portfolio across asset classes and industries is a helpful strategy to earn optimum returns on investments while minimizing risks. The level of diversification depends on individual investor’s size of investments, risk appetite and knowledge of industrial sectors.

At the same time, don’t enter too many sectors to make your portfolio unmanageable.

Step #9 Don’t Try to Time the Market

Nobody ever has or can predict the exact movements of the stock market. Therefore, you should also not try to this. Catching the peaks of highs and lows are impossible. Just take the decisions based on your technical and fundamental analysis.

Step #10 Monitor your portfolio regularly

It is the nature of stock market to be unpredictable / volatile / be influenced by sentiments. Therefore, monitor your portfolio of investments very closely by keeping an eye on the financials of the company, industry, national and global economy.

Short Video: 10 Steps to Earning Profits from Stock Market

A message from the author 

Hope these tips and steps about stock market trading and investing in mutual funds would prove to be very useful to you. Please do keep in mind that all above Smart Steps to Earning Profits from Stock Market are to be taken one after other. Try not to skip any step, if you want maximum benefit from this strategy.

Happy investing and profitable stock trading!!

Other useful articles on this blog you may like to read:

Job Interview Questions and Answers for Airline Pilots

Job Interview Questions and Answers for Airline PilotsSo you have dream to become an Airline Pilot? You have already acquired the basic educational and professional qualifications. You have also got the necessary training and now want wings to fly for the airlines? If you have already applied for the job of pilot with an airline, it is essential to go through their selection procedure which would include personal interview too. If you are ready to fly high, do take a look at these common Job Interview Questions and Answers for Airline Pilots.

Why should you prepare for non-technical Job Interview Questions?

You might ask that you are a trained pilot and what is the need for these behavioral or non technical questions. Well these questions serve may purposes. They help the prospective employer know you a little better as a person, as a professional and as a leader of the team in the skies.

Thanks to the increasing competition and fast changing practices in the airline industry, employers now want to hire pilots with additional skill sets.

There can be many types of questions which can be broadly grouped under behavioral interview questions, competency based interview questions, situational interview questions, management and leadership skills related questions and training or experience related interview questions.

Some of the questions given below also check if you have the ability to think on your feet.

Job Interview Questions and Answers for Airline Pilots

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To help you prepare well, it is recommended that you may these questions and then research the answers. Of course, we have also given some model answers to guide you. It is better you write down your own answers. This should be practiced by speaking them out aloud repeatedly till they sound like a natural response.

To start your research, here are some of the common non-technical questions which may be asked when interviewing someone for the job of an airline pilot.

Short Video: 10 Common Job Interview Questions for Airline Pilots

 

Question 1. Tell me something about yourself?

Model Answer: My name is Sunny Singh, I was born in New Delhi but I grew up in the cities of Mumbai, Delhi and Dubai. I am 23 years old

I am going to share with you about my academic and professional qualifications besides my wonderful family. I am also tell you about my passions and interests.

I did my schooling from ABCD School and I passed out in the year of 2014 and after which I did my flight training from Dean International Flight School, Florida, Miami, USA and obtained my Commercial Pilot License in the year 2017. I also obtained my type rating on a 320 next year. In the meanwhile, I appeared for my Airline Transport Pilot Licence (ATPL) exams and have cleared the same.

We are a family of 4 and I come from and aviation background as my father is Captain and my brother is a helicopter pilot and my mother is a medical doctor.

I am very hardworking, determined person and team player. Flying is my passion which started with the hobby of aeromodelling.

Short Video: Tell me something about yourself

 

Question 2. What are your goals in life?

Model Answer: Over the period of next 3 years I would like to learn and gaining experience to see myself as a senior first officer. In the next 5 to 7 years, I aim to reach the position of the captain.

Going further, in the next 10 years I would prepare myself to work as a trainer by enhancing my knowledge and skills to the next level to so that I can help others in doing the same. Alternatively, depending on the opportunities available at that time, I would also be interested in the management of the flight operations department.

Short Video: What are your goals in life?

 

Question 3. What are your hobbies and interest?

Model Answer: My hobbies include playing guitar, cricket as well as horse riding. On the technical side I love to do aeromodelling.

Short Video: What are your Hobbies and Interests?

 

Question 4. What are your strengths and weaknesses?

Model Answer: Please allow me to start with my strengths first. I am hardworking and sincere, I like to work hard with focus and determination. Further, I am a good listener and a quick learner.

I do not like jump to conclusions and first like to analyse the situation and keep myself situationally aware at all times.

As regards my weaknesses, I am inquisitive and like to know the technical know how of the things and may ask too many questions, at times.

I am also straight forward and point out anything which can be unusual and this can be negative, at times

Short Video: What are your Strengths and Weaknesses??

 

Question 5. What are your motivations for pursuing this job?

Model Answer: To begin with, I am passionate and motivated for flying. With regards to the career in the aviation industry, I feel that doing a good job and achieving the desired results is my primary motivation. I am motivated when I am working in a team and also while doing my type rating every time I applied power for takeoff or flared for landing. I feeel joy and excitement which is my motivation for this job.

Short Video: What are your motivations for pursuing this job?

 

Question 6. What makes a good Captain? OR What qualities and skills do you expect to see in a good Captain?

Model Answer : A good captain is someone who is knowledgeable, solid experience and thorough piloting skills. In addition, he has to have certain personality traits and skills like decisive, safety conscious, superior communication skills, good leader who can manage stressful situations and avoid confrontation.

As a professional he should be open to continuous training and skills up gradation, besides having a quality to adhere to procedure and be very systematic in all approaches.

Short Video: What makes a good Captain?

 

Question 7. What qualities do you think are required in this job?

Model Answer: I believe key qualities of a first officer is having the knowledge of the Aircraft , positive attitude towards learning and assisting the captain for the safe conduct of the flight , monitor flight instruments being vigilant and having good exam handling capabilities and clear understanding of task sharing and SOP’s and exhibiting good CRM skills .

Short Video: What qualities are required in this job?

 

Question 8. What Is CRM? When is CRM used?

Model Answer : Crew Resource Management (CRM) is defined by the United Kingdom Civil Aviation Authority as:

“A management system which makes optimum use of all available resources (equipment, procedures and people) to promote safety and enhance the efficiency of flight operations”.

In other words, CRM is a system to make systematic and effective use of all available resources while focusing on procedures, interpersonal communication, team work, task allocation, decision-making and situational awareness etc. to promote safety and enhance efficiency in operations.

CRM is used from the moment the crew enter the crew room all the way through to checkout at the end of the day and constantly in between.

Short Video: What Is CRM? When is CRM used?

 

Question 9. Are you open to relocate to another city?

Model Answer: My preferred base would be Mumbai as my family is based in Mumbai. However, I would be open to taking any base as per the airline’s requirements

Short Video: Are you open to relocate to another city?

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Question 10. Describe healthy work culture?

Model Answer: To me a healthy work culture is an environment at a place where everyone one is treated equally and every individual respects the other. It is a place where the first officer is eager to learn and the captain is more than willing to teach and where everyone works as team towards achieving a common goal and this is how I would define a healthy work culture.

Short Video: Describe healthy work culture

 

Question 11. Why should we hire you?

Question 12. What will you do after this interview

Question 13. Have you travelled overseas

Question 14. How do you define success

Question 15. What kind of career you want to be in?

Question 16. What do you think about aviation industry

Question 17. What did you do last night?

Question 18. What do you know about our company?

Question 19. Tell me about a time when you FAILED

Question 20. How do you Resolve Conflict?

Question 21. Tell me about a situation when your work was criticized.

Question 22. How could you have improved your career progress?

Tips to Fly High with the Best Answers to Personal Questions or Non Technical Questions

While airlines do want to check your knowledge of flying, security and engineering etc., they also want to get a good idea of your personality, behaviour patterns and what motivation you have to become a pilot.

When it comes to important tips for answering these questions, always remember that honesty, integrity, team work and thoughtfulness are powerful qualities which attract the attention and praise of the interview board or the selection committee.

It is also important to be confident yet polite and pleasant. Good eye contact and occasional smile will do the trick here.

How can CareersandMoney.com help you?

We conduct workshops, training programs and one to one counseling sessions, where we teach Interview SkillsPersonality DevelopmentConfidence Building, and other aspects of the job search such as Career Counseling, Resume Writing, Linked Profile Writing and much more. All you have to do is call us at 0919873372726 or 01143022692, 01143022693!!

Dear Reader,

We do hope that you found the Questions and Answers given in this blog article helpful for your interview preparation. Given below are links to more useful and related articles:

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  3. Common Business School Interview Questions with Answers for MBA Entrance
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About the Author

Sundeep Kataria CV MakerSundeep Kataria is the CEO of ACS Consultants – a Management Consulting Firm. He holds multiple qualifications: MBA, PGDIT (IIFT), MS in Counselling & Psychotherapy and Diploma in Company Law. He has also formally learnt Digital Marketing and Website Making.

In 1995 he pioneered the concept of professional Career Counselling, Executive Coaching and Mentoring. Over the years he has mentored many professionals, like CAs, Engineers, Sales & Marketing Professionals, IT Experts etc.

The unique style of Sundeep Kataria is that he connects with each and every individual personally, holds in depth discussion before undertaking the assignment.

Why People Don’t Become Rich By Stock Trading

How to become Rich by Stock Trading?Over the years, I have earned money in Stock Trading and I have lost money in Stock Market. Also I know of only 2 or 3 persons who have become rich by trading in stocks and it is their full time profession. This means that it is pretty difficult to become rich by doing stock trading. It was this interesting observation before me which made me study the question, “Why People Don’t Become Rich by Stock Trading”.

Reasons to find answer to: Why People Don’t Become Rich by Stock Trading

Most of us want to become rich and Stock Market Trading is one of the tempting options. Many people get lured and try their luck. The aim of my research was to improve chances of earning and to minimize the losses. Of course, it is not always possible to avoid the situations which lead to losses as volatility and uncertainty are the features of stock market.

My methodology to find the answers

In addition to studying a lot of blogs and watching videos on You Tube, I also enrolled myself for crash courses on the subjects like: Learn Stock Trading, Learn Options Trading, Learn Online Stock Trading, Learn Investment Planning etc.

This gave me many interesting opportunities to speak to the experts on the subjects who were teaching and also the fellow participants. Normally the participants already had sufficient experience of stock trading as well as investing in mutual funds. They had come either to enhance their knowledge and get some new techniques or to understand where they are going wrong, in case they are.

Well I came across many interesting answers backed with actual experiences of people. While some answers were convincing and logical, some were irrational or illogical. Obviously, I ignored the irrational explanations.

Why People Don’t Become Rich by Stock Trading

Here are some of plausible explanations grouped under a few broad headings:

1. Greed

It is quite natural for human beings to be greedy. We want to get rich and that too very fast. We dream become rich overnight, even though the investments in terms of capital, knowledge and time are small.

2. Lack of knowledge or little knowledge

It is very difficult to predict exactly and every time which way the stock prices will go. Perhaps no one can be 100% right. Only with the help of regular technical analysis and study of fundamentals of the stock market and individual stocks can you make intelligent guess about the direction or the trend in which the stock prices will move.

Hence it would be foolish to jump into the business of stock market without learning thoroughly the Fundamentals of Investing and the Techniques of Forecasting the Prices.

3. Investing based on “tips” only

Many new investors or traders take advice from wrong sources such as colleagues, friends and relatives. Naturally it would be wrong to assume that they are professionals in Stock Trading or Financial Investments.

Even if their tip is correct, it has to be acted upon at the right time for entry, booking profit and even putting stop loss because it is all about right timing in the stock market. Obviously the stale tip and do much damage than give any profit to the trader.

4. Use of Leverage Facility

Another name for Leverage is buying on margin. Many stock brokers or trading platforms readily allow you to buy or sell stocks up to 10 times or even 14 times the value of your capital. This means that with a capital of 100 units of money, you can do intraday trading of 1000 units. Naturally it is a gambler’s luck if you make 10 times more money in a few hours. But if you had to book loss on that day, that too would be large, In other words, if you were to lose $5 with your own capital on a bad day, now with the margin trading done by you the loss would be $50 – 10 times more.

5. Lack of Patience

Impatience is likely to make a person take incorrect decision, to put it mildly. You have to give a stock couple of years to increase in value so that you can get a good price to sell it off on a profit.

On the contrary, there is intraday trading to suit the mood and styles of impatient. That is why many people who lose money in the stock market do not have patience. When the value of their stocks starts to decline they get nervous and they sell it off at a loss. But if they had waited a little longer, they would have made decent profit.

Sometimes, people are impatient while choosing a good stock and they end up investing in a not a good trading opportunity.

Is it possible to become Rich by Stock Trading?

After so many convincing reasons why people do not become rich by trading in stocks, there could be a follow up question also. You may want to know: Is it possible to become Rich by Stock Trading?

Well the answer is that people like Warren Buffet are the living proof that one can not only survive in the stock market but actually make a lot of money. After all to rank among the top 5 richest people in the world, year after year and this is no joke or coincidence.

Here are some important tips or lessons if you want to become rich by investing in stocks

1. Don’t be greedy

Invest in the intrinsic value of the company. Mr. Warren Buffett says, “When forced to choose, I will not trade even a night’s sleep for the chance of extra profits.” He takes minimal risk rather than high risk and potentially higher profit option.

2. Have patience

Our greed and impatience sometimes makes us set unrealistic targets which are not achievable. Therefore, it is important for you to set targets wisely. Mr. Warren Buffett says, “I never attempt to make money on the stock market. I buy on the assumption that they could close the market the next day and not reopen it for five years.”

Mr. Warren Buffett usually has a very long investment horizon or holding time period. According to him, “Only buy something that you’d be perfectly happy to hold if the market shut down for 10 years.”

3. Acquire lots of knowledge

You must acquire thorough knowledge in the areas of Fundamental Analysis and Technical Analysis of Companies, their Stocks before trading in their Shares. Also keep in mind that knowledge will not come quickly, it has to be acquired from various sources. Secondly, the knowledge needs to be regularly updated too.

4. Use your own money

This is basically to save you from increasing the size of your total loss if you were trading on margin (using leverage). Leverage is the sure way to wipe out your capital fast.

Once again, Warren Buffet’s quote fits in very well here, “I’ve seen more people fail because of liquor and leverage – leverage being borrowed money. You really don’t need leverage in this world much. If you’re smart, you’re going to make a lot of money without borrowing.”

A word from Author

I am not an expert on the stock markets, nor do I claim to have become very rich by stock trading. But to support my arguments; I systematically collect information, do careful planning, adopt a conservative approach and conduct deep research coupled with patience. This has helped me to avoid losses and book reasonable profits over a long period of time.

I am passionate about helping new investors and traders so that their hard earned money does not go down the drain.

 

Common Business School Interview Questions with Answers for MBA Entrance

Business School Interview Questions for MBA EntranceThe personal interview (PI) is an important part of the admissions process into Business Schools for MBA or BBA program. Through the personal interview the selection board aims to assess the clarity of thinking process, future goals and the ‘fitment’ with the Business school. The admission committee of the institute evaluate your interpersonal skills, communication skills and the attitude. Admissions decisions depend a lot on how well you do during the interview. Hence for the benefit of all BBA and MBA aspirants we have created this article on Common Business School Interview Questions with Answers for MBA Entrance.

Common Business School Interview Questions

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The best strategy for approaching an interview is by preparing and practicing for a wide range of questions. Hence the preparation for interview should not be taken lightly. We have handpicked a few common but important questions you should definitely prepare for – well before your interview.

After reading these Personal Interview Questions, you can go to Section 2 to see explanation,  model answers  and tips. This should further help in improving your performance in the interview. Also below the list of questions there is a video with interviewer asking top 15 questions.

The following questions are commonly asked during an interview:

  1. Tell me about yourself.
  2. Why do you want to earn a graduate business degree?
  3. Why are you interested in this school/program? / Why do you want to study in this institute?
  4. Why should we admit you?
  5. Do you have a career goal? Where do you see yourself in 3 to 5 years from now?
  6. What qualities should a successful manager have?
  7. What is the difference between a manager and a leader?
  8. Are you a good manager or a leader or a worker?
  9. Talk about your accomplishments as a leader. / What leadership roles did you play at your university?
  10. What are your strengths and weaknesses?
  11. How do you spend your spare time?
  12. Which is more important to you: money or the type of job?
  13. What are your three major accomplishments?
  14. What does “success” mean to you?
  15. What does “failure” mean to you?
  16. Why do you want to join this College / B School?
  17. Why MBA and why not any other course?
  18. What are your hobbies and interests?
  19. Who is your role model?
  20. What is your expectation from this MBA program?

Video: Commonly Asked Business School Interview Questions for MBA Entrance

Common Business School Interview Questions with Answers for MBA Entrance

Question 1: Tell me about yourself

Alternative Question: It’s possible the interviewer might ask “Walk Me Through Your Resume” instead.

Understanding the question and how to answer it
This question is very often one of the first questions asked in an MBA interview. Since the interviewer is asking the information about you, it should be a fairly easy for you to answer.

Although you may chose the time line method to give introduction about yourself, it would be a still better idea, if you focus on 4 groups – Your personal life such as family, Education, Experience and Passion or goals in life. Let us see in model example the reply on these lines.

Model Answer
Good Morning Sir. I am Monty Singh and a resident of Chandigarh, the city beautiful. I am a Computer Engineer from Chandigarh University. I earned my Bachelor’s degree in 2016. My father is also an Engineer and he heads a logistics company, and my mother is a housewife. My elder brother is a post-graduate in Economics and has just completed his MBA. I have been working with an online education start up called extrastudy.com for the last two years.

With my keen interest in academics and technology, I have decided to make a career in this field. I wish to make a difference to the lives of others, by bringing education and skills enhancement to the homes of working professionals at an affordable price through internet.

Tip
The interviewer already has your resume with him, but wants to understand the “why” of it or wants it from you in verbal form. It is an opportunity for the candidate to highlight his accomplishments, strengths, positive points etc. where he thinks he scores better than others

Question 2: Why do you want to earn a graduate business degree?

Alternative Question can be: Why do you want to pursue MBA

Understanding the question and how to answer it
Although this question has been asked for years, yet, there is a high probability this question shall continue to be asked.
We have to understand that there is no single best answer to this question. At the same time it would not be a great idea to be brutally honest and say that you are doing so purely for monetary benefits.

Hence there are a few strategies and approaches that you can follow to give a good answer:

A. The Growth Approach
This approach talks about growing and becoming a better professional. The better qualified individual can contribute more and effectively in the organisation because he is well qualified to take more responsibilities, lead the team and demonstrate his superior technical skills and common sense. Thus you are an asset for the business who can save money, earn money and expand business.

B. The Human Factor Approach
Businesses don’t run on technology alone. The human asset is the most valuable asset for any business organisation. For example, it’s not in the strength of the product alone – it is also the ability to sell, control, manage and deliver. Only humans can do it and there is nothing better to teach you this than an MBA.

Model Answer
Sir, I decided to do MBA when I was in the 2nd year of my B. Tech. in Mechanical Engineering. Additionally, I planned to do MBA two years after completing my Engineering course, because I wanted some work experience before joining MBA.

My decision to pursue MBA is based on three things – better career opportunities, good career growth in the organization and I will be better qualified to do something which I like.

The reasons for taking this decision were appreciated by my mentor during in my internship in Siemens when I shared him my thoughts. He confirmed that I have taken a right decision, as with just an Engineering degree, growth is quite slow.

Tip
Also do point out that while your bachelor’s education sets up a good technical base, it is not your opinion that you need to specialize or go deeper into the subject with an M.S., or an M. Tech.

Question 3: Why are you interested in this school/program?

Alternative Question can be: 
This question is certainly going to come up during your MBA admission interview, and might be phrased slightly differently, such as “What made you choose this University?” or  Why do you want to study in this Institute?

Understanding the question and how to answer it
Such question tests your knowledge about the B School or the University. The interviewer is trying to understand that what motivates you. Therefore, you should think of an honest reply telling the interviewer about the reasons that make you think  that particular B School is the perfect match for your requirements.

Model Answer
Sir, Your B School is one of the very few schools which is offering MBA Program with full specialization in Entrepreneurship. I’ve checked the curriculum details of other reputed MBA institutes also and I found that they are at the most offering Entrepreneurship as a subject only.

I come from a business family and have certain post-MBA goals. Being an Entrepreneur is one of them. Hence, there’s no better fit anywhere. If I am offered admission, I’ll be very happy and proud to accept it.

Tip
You may list various reasons the particular school / university / program is perfectly suited for you. It could be from location to faculty to specialization to the institute’s connections with specific industries and companies that match your career goals.

Question 4: Why should we admit you?

Alternative Question can be: Why should we select you?

Understanding the question and how to answer it
By asking this question the interviewer want to judge how you handle pressure at work usually at the beginning of the interview.

Model Answer
I wish to be an entrepreneur and have planned to start my own business 5 years from now. Therefore, to manage various aspects of business successfully, I would require good knowledge of Sales, Marketing, Logistics, HR and Finance.

There is nothing better than MBA program to learn these subjects in a systematic manner. I am very serious about starting my business and I am sure that I MBA will help me to better my performance in business management.

Tip
When you decide to get MBA degree, you should be clear about your post – MBA. Therefore, be sure to answer this question the way it relates to your personal and professional goals.


Question 5: Do you have a career goal?

Alternative Question: Where do you see yourself in 3 to 5 years from now?

Understanding the question and how to answer it
This is one of the popular questions that is asked in the MBA personal interviews (PI). Your answer should justifiably link the achievement with the learning from the MBA course. Thus your answer should substantiate it.

Model Answer
After completing my MBA, I wish to join a medium size to large organisation in their Human Resource (HR) Deptt. I would like to get hands on experience in various aspects of Recruitment, Talent Management and Talent Retention, Periodic Assessment System, Employee Engagement and Grievance Redressal.

A thorough exposure on these subjects would prepare me to become a good second in command to the Head of HR after 3 to 5 years of sincere working.

Tip
Be honest while answering it. Also you need to be specific because answers don’t make a good goal. Hence your goals should be concrete and achievable.


Question 6: What qualities should a successful manager have?

Alternative Questions:

  • Tell me about your best boss.
  • Did you have a boss you liked working with in the past?

Understanding the question and how to answer it
The selectors want to know if the candidate will work well as Manager after completing his MBA.

Model Answer
I believe a successful manager needs to have a clear vision of the project. He should share with the team the strategy and specific methodology to achieve it. Using his skills of leadership, good communication and innovative thinking, he should keep the team focused on the objectives ahead.

From time to time, he should be able to motivate his team members, if there are challenges and also suggest solutions.

He should be one with good interpersonal skills and a believer in team work.

My current boss fits into this description very well as he is great at keeping us motivated on the task at hand. Due to his excellent leadership skills and clear-thinking, he is always admired as a great team leader. His team has been making solid contributions to the company’s growth.

Tip
This is a behavioral question. Remember to be positive in your answer and also it is better if you give an example from your background and experience.

Question 9: Talk about your accomplishments as a leader.

Alternative Questions

  • What is your leadership style?
  • What leadership roles did you play at your university?
  • Tell me about a time when you exercised leadership?
  • What leadership roles did you play at your university?
  • In which ways have you shown leadership in the community?
  • Discuss a time when you were a leader.

Understanding the question and how to answer it
This is a situational question as the interviewer is interested to check the kind of initiative you have taken as a part of the group and worked towards a noble goal.

Prepare your answer beforehand. You may think of a couple of experiences in your school, college or work place where you displayed your leadership qualities. It can be even heading a sports team, or even head of  a group of volunteers attached to a Non Profit Organisation to distribute free food and medicines to flood victims in the neighbouring state.

Model Answer
I have been an active participant in social service activities. There have been several occasions where I was asked to lead a smart team such as providing relief to victims of quake in Nepal, as a relief worker in Uttrakhand floods disaster etc.

Also I am keen sportsman and have been captain of hockey team in the 4th year in college. With pride, I can share that we won 9 matches and lost 3 while 1 match was a draw. This has been the best performance of the college team so far.

Tip
Business schools would like to select those students are academically bright, maturity of thoughts, have good communication ability and good leadership skills.

This is a situational question, in which Panel is interested to check the kind of initiative and hard work you did for your group.

Question 10: What are your Strengths and Weaknesses?

Understanding the question and how to answer it

Talking about your strengths should be quite easy. Pick three good and useful strengths that you feel set you apart and if needed, you can give an example each for your strengths. With regards to weaknesses, pick a shortcoming you have which can be converted into strength.

For example, you could explain how your impatience allows you to get things done quickly.

Model Answer

My strengths: I am very hardworking, flexible and good team worker. Also, I have excellent learning abilities and my friendly nature makes me popular everywhere. These days my company is switching over to new ERP software. So while I do my normal work during the day time, I am also part of the team which works after office hours to migrate to the new software. I have no issues regarding extended timings rather I am happy to learn new software in the shortest span of time.

My weaknesses: I am very impatient, hence I work fast and longer hours so that this change over of software is done seamlessly in a short period of time.

Tip

Make sure that your strength and weakness doesn’t contradict each other. For example, if your strength is good memory but if you say that your weakness is that you forget important dates then you are contradicting your own statement. The interviewers will be quick to spot such errors.

 

How can CareersandMoney.com help you to facilitate admission in MBA or BBA?

We conduct workshops, training programs and one to one counseling sessions, where we teach Interview SkillsPersonality DevelopmentConfidence Building, and other aspects of the job search such as Career CounselingResume WritingLinked Profile Writing and much more. All you have to do is call us at 0919873372726 or 01143022692, 01143022693!!

Dear Reader,

We hope that you found the Questions and Answers given in this article useful to help you prepare thoroughly. Given below are links to more useful and related articles:

Interview Training

Career Options

Career Path

About the Author

Sundeep Kataria CV MakerSundeep Kataria is the CEO of ACS Consultants – a Management Consulting Firm. He holds multiple qualifications: MBA, PGDIT (IIFT), MS in Counselling & Psychotherapy and Diploma in Company Law. He has also formally learnt Digital Marketing and Website Making.

In 1995 he pioneered the concept of professional Career Counselling, Executive Coaching and Mentoring. Over the years he has mentored many professionals, like CAs, Engineers, Sales & Marketing Professionals, IT Experts etc.

The unique style of Sundeep Kataria is that he connects with each and every individual personally, holds in depth discussion before undertaking the assignment.

Career Opportunities in Event Management Industry

Career Opportunities in Event Management IndustryEvents, occasions and celebrations are an integral part of human society. There are events at every stage, age and aspect of life. At the personal level it can be an event of birth of a child, birthday celebrations, engagement, wedding functions, or even throwing a party to invite friends and relatives celebrating, we happily organize the event. Similarly at the organisation level, there are events in the form of meetings, launch of a product, Annual Meetings, Special Meetings, Official Dinner, Office Party, Office Picnic etc. In the modern world, whether personal or corporate or social – all events are required to be organised very professionally and meticulously. Hence, it has given birth to a new stream of careers in Event Management. This article brings for you comprehensive information about Career Opportunities in Event Management Industry.

Career Opportunities in Event Management Industry

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We are sure that you found the information given in this article useful to help you make a perfect career choice.

Given below are links to more useful and related articles:

Career Options

Career Path

Interview Training

Resume Writing

About the Author

Sundeep Kataria CV MakerSundeep Kataria is the CEO of ACS Consultants – a Management Consulting Firm. He holds multiple qualifications: MBA, PGDIT (IIFT), MS in Counselling & Psychotherapy and Diploma in Company Law. He has also formally learnt Digital Marketing and Website Making.

In 1995 he pioneered the concept of professional Career Counselling, Executive Coaching and Mentoring. Over the years he has mentored many professionals, like CAs, Engineers, Sales & Marketing Professionals, IT Experts etc.

The unique style of Sundeep Kataria is that he connects with each and every individual personally, holds in depth discussion before undertaking the assignment.

Career Opportunities in Fitness Industry

Career Opportunities in Fitness Industry

Fitness today is not just a fad but it is a craze and necessity among the health conscious people. If you are into sports or love physical activity and exercise, then you can combine your passion for fitness with a career that lets you earn a decent income. For health and fitness freaks, we bring latest information about Career Opportunities in Fitness Industry.

Fitness has become much specialized field. Earlier if someone wanted to look fit and healthy he would workout at gym. But there is very demanding and discerning clientele today which is looking for trainers who can train them to do Yoga, Pilates, Kickboxing, Body Building, Cross Training or just mixed work out to help them get fit / stay in shape and move towards an ideal weight.

Career Opportunities in Fitness Industry

We have put together relevant and useful information. Therefore, please read the full blog and at the end are two short videos also in English and Hindi which you may like to watch.

What is the Job Profile?

The fitness trainer has to train different people as per their individual needs. The ultimate goal is best possible physical fitness. This could be in terms of Weight Loss / Weight Gain / Strength Training / Body Building / Flexibility and generally helping clients get into shape and stay fit.

You can train an individual or conduct classes for group.

As a fitness instructor, your job will also include designing specific exercise regime for individuals keeping in mind their age, lifestyle, fitness levels and health parameters.

Besides helping them on their workout, you will also be required to give your clients basic advice on health and nutrition, including posture, change in lifestyle if required, etc.

Where to go for Learning and Certification

Traditionally the local gym itself used to make a person eligible to train others after getting couple of years of experience by working on his own body. But no more! Now you can go for courses from leading sports brands like Nike or Reebok for Aerobics Course Instructor Certification program.

In India, some of the organisations and bodies which courses in sports and athletics coaching are:

  • The Sports Authority of India (SAI)
  • SAI, Netaji Subhas National Institute of Sports, Patiala
  • SAI, NS Eastern Centre, Salt Lake City, Sector-III, Kolkata
  • SAI, NS South Centre, University Campus, Bangalore
  • Lakshmibai National College of Physical Education, Kariavattom PO, Trivandrum
  • Lakshmibai National Institute of Physical Education, Shaktinagar, Mela Road, Gwalior
  • HVPM, Amravati
  • Indira Gandhi Institute of Physical Education & Sports Sciences (IGIPESS)
  • The Growth for Fitness Instructors (GFFI) Fitness training Institute
  • Symbiosis Department of Health Sciences, Senapati Bapat Road, Pune
  • Gold’s Gym Fitness Institute, Mumbai

Also there are some foreign institutes which offer a combination of online and offline learning for their certification programs.

There are many options for pursuing professional courses in the areas of yoga, pilates, martial arts etc. You can opt for a certificate or diploma course in sports science / Yoga / Martial Arts / Self Defense / Naturopathy to become a fitness instructor.

Personal Qualities Required

A fitness trainer must have high motivation to stay healthy and fit and encourage others also to do the same. Not everyone has the same body and nature so they must also have the patience and ability to work with different types people. With polite yet firm attitude, he should be able to explain exercise techniques clearly.

A fitness trainer must also be aware of good safety practices to avoid chances of injury or damage to the body.

Since it involves a very close physical proximity, he should maintain a healthy work ethic and good personal hygiene.

Employment Opportunities for Qualified Fitness Trainers

After acquiring necessary qualifications and certification, there are many organisations which can employ you. In addition to the working in the gyms, there are employment possibilities with youth clubs, 5 star hotels having health clubs, health club and spa, tourist resorts, sports club, multinational companies having gym and health clubs, large educational Institutes such as schools and colleges, special fitness centres, martial art studios, etc.

In addition, you can become personal coach to rich and busy individuals who cannot come to the gym. Once you gather enough experience, confidence and money you can start your own fitness centre or gym.

There is a fourth type of opportunity also. You can become a trainer of the trainers. That means that the way you were trained in the fitness domain at the start of your career, now you can train the newcomers.

The general designations used in the corporate world or other than corporate organisations are Fitness Coach, Fitness Instructor, Trainer, Gym Trainer, Manager Fitness Center, Gym Instructor, Head Gym Operations, Fitness Manager, Sports Coach, etc.

The Salary

The salary of a fitness trainer in a gym can start from Rs. 10,000 to Rs. 15,000 a month. But as the experience and certifications increase, the income can go up to Rs. 40,000 to Rs. 50,000 a month. This also depends on the city and how big is the gym chain.

However, some trainers can earn few lakhs per month also. This happens when they become personal trainers and charge 1,000 to 2,000 per hour and more if they are celebrity trainers. But such trainers are very few in number

Similarly, the salary levels are higher if one takes up the job as the corporate trainer. Usually the corporate pay Rs. 2,50,000 to Rs. 3,50,000 pa.

Latest trends in Fitness Industry in IndiaLatest trends in Fitness Industry in India

In addition to fitness training and exercising at Gym, personal training at homes is getting popular. This suits the rich business persons, busy executives and celebrities who would not like to come to a public place. Also exclusive fitness coaching is being done for people in small groups.

In addition to weight training and workout exercises in the gym, now there are classes for Aerobics, Yoga, Power Yoga, Kick boxing, Pilates. The latest trend is CrossFit in gyms and parks and Indoor Rock Climbing. Personal Weightlifting for Body Building and aerobics are and will always be popular.

With international as well as national chains coming to India, the demand for trained instructors has increased. Film and Sports celebrities like M.S. Dhoni, Sunil Shetty etc. have also entered the fitness and sports activities business.

The profession is still in its nascent stage but professionalism and education will help the trainers to take up fitness training as a serious career option and earn name and fame too.

Short Video: Career Opportunities in Fitness Industry

Short Video: Fitness Industry में Career के अवसर और Salary

 

Dear Reader,

If you are in the related industry, then we would love to read your comments, suggestions and experience in the industry. Please do write in the comment box below.

Mistakes That Do Not Let You Become Rich By Investing In Mutual Funds

Mistakes That Do Not Let You Become Rich By Investing In Mutual FundsInvesting in Mutual Funds or Stocks is not nearly as difficult as it looks. However, it is successful investing that involves doing a few things right and avoiding serious mistakes. Yes, there are some common mistakes which people tend to repeat while investing in Mutual Funds and Stocks as well. So in this blog we focus on mistakes that do not let you become rich by investing in Mutual Funds.

If you focus on the right investment strategy, preferably given to you by your investment adviser while consciously avoiding these mistakes, there are high chances that you should reap rich benefits of your long term investments.

Also please see: Reasons Why You Are Not Rich Yet

Mistakes That Do Not Let You Become Rich By Investing In Mutual Funds

1. Doing Lump sum Investment when the markets are high

It is very difficult to time the stock market for a retail investor who is a common man. If someone were to invest when the stock market is at peak or is near that, then the purchase price of the units will also be high. Thus the investor may have to wait for a long period of time for his investments to appreciate considerably. In fact, he may soon see the bearish trend – if the cycle were already high.

Recommendation: It is a considerably safe bet to invest through the SIP route so that there is Rupee Cost Averaging. Additionally this also gives relief from the volatility of the Stock Market.

2. Keeping the initial amount of SIP low

Most of us are familiar with the concept of “power of compounding”, but we tend to overlook the need for keeping the amount of investment higher during the initial period.

Let us understand this with the help of an example. Suppose, someone decides to invest Rs.1500/- per month via SIP (Systematic Investment Plan) in a good equity Mutual Fund for a period of 25 years. Then his total investment would be Rs.4.5 lakhs. Assuming that the mutual Fund he has invested in gives an annual return of 15%, then his corpus at the end of the period would be Rs. 49.30 Lakhs approximately. Assuming that the inflation rate is 6% per annum, then the expected amount after the journey of 25 years is likely to be Rs. 16.9 lakhs.

However if he were to save and invest a higher amount, say Rs.5000/- per month, then his corpus size after 25 years would be approximately Rs.1.64 crores and after adjusting the inflation, it should be Rs. 56.5 lakhs.

Better strategy:  Make a small sacrifice today and retire a rich and wealthy person. Also please see: How To Retire Rich

3. Investing for shorter period

Successful investing in mutual funds and stock market requires a lot of patience. It is this virtue which many investors do not have in sufficient quantity.

The long term investment is usually of minimum 5 years. Any investment done for a period of 5 years is unlikely to give solid returns to the investor, unless he is lucky to have invested when the stock market was at its lowest or near those levels.

Recommendation: Invest for at least 5 years in a good stock or Mutual Fund. We should rather think in terms of 10 years, 15 years, 20 years and 25 years for good gains. Give time to your investments to grow to a reasonable level and size.

For example, if someone were to invest Rs.100,000 in the growth scheme of a Mutual Fund which is expected to give a return of 15% return p.a. then after 5 years his total amount is likely to double – around Rs.201,135. However, if he increases his period of investments, then he would reap much higher returns because the interest / dividend will be re-invested and it will grow to a sizable corpus.

The following table should make it very clear:

Benefits of investing for long periods

4. Frequently re- adjusting the investment portfolio

Due to the influence of one or more of the factors such as impatience, wrong advice, desire to beat the market etc., the investor frequently shifts from one stock / Mutual Fund to another. It is a proven fact that only a small percentage of mutual fund managers can beat the index of the stock market. Even if, they are able to do so, then they may not be able to repeat the phenomena of success over the long period of time.

Generally, the investors may not take very good decisions once they see the volatility of the market. Their emotions may effect right decision making process.

Better strategy: It is better to stay invested in a few select mutual funds chosen out of your own thorough study or as per the recommendation of a good investment adviser. This way you not only save yourself hassles of monitoring the investment too frequently but also save the commissions payable on sale / purchase  of stock / Mutual Fund. Also please read: Five Steps to Investing in Stock Market

5. Not seeking professional advice

A lot of times, the new investors tend take uninformed decisions which could be based on impulse or a casual article in the newspaper / magazine or follow a friend’s advice. More often than not, this may not be the best wealth Management advice you can get.

Recommendation: It is always better to connect with a good investment adviser or a wealth manager and spell out your financial goals in future. A good wealth Management company has trained workforce to understand your needs and suggest best investment strategies based on your current unexpected levels of income. It is better to pay small amount as their advisory fees then to lose a much big amount of earnings.

Other useful articles on this blog you may like to read:

 

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