Introduction to Emma Lathbury
Discuss about the Marketing of Emma’s parlour.
Emma’s parlour belongs to a lady who is 52 years old and is very energetic and determined to achieve her dreams and never willing to admit defeat. She was working as a nurse in a hospital but she left that job in order to choose a profession that is suited to her high energy, outgoing personality. So she started Emma’s parlour – a tearoom (Bansal & Clelland, 2017).
Her success was due as she was working very hard and her speciality teas have taken off her business to heights. She had chosen everything for her tearoom herself like tearoom exterior, curtains, roundtables, flowers, hired staff and recipes. Emma’s parlour has reached a stage where she is earning huge amount of profits. The current annual growth rate is also very high as she is also organizing various events in order to attract more customers. Her recipes got glowing reviews in numerous guidebooks and earned a national reputation. So her business has reached a stage where she is getting a huge amount of profits and growth rate is also very high. The business has earned a good reputation and is familiar with her speciality teas and mouthwatering recipes.
Her web-based organic business is also earning huge revenues which is slightly less than tearoom but has good profit margins (Forjoun, 2002). Her web-based business is also flourishing as she is conducting various workshops to explain the efficiency of organic tea in treating various problems. She is using her experience of nursing in tea tree business where she explains medical benefits of herbal teas. Soon she started blending her own Emma’s parlour organic tea and selling them in retail stores, restaurants and individual's over the internet which gained popularity I no time. So her web-based business also started flourishing and earning huge profits (Boyod & Ellisson, 2007).
Both the business has reached the stage of maximum profits or saturation point. Despite earning huge profits and having the fulfilment she found in running her own business she has reached a stage where she is confused whether she should continue tearoom business or web-based business or should stop both of them (Hankinson, 2007).
Synergies between two businesses-: If both are business are run jointly definitely it would lead to increase in profits and market share as well (Kim, 2008). If both are run individually by themselves they will in addition not generate as much revenue as they will generate if they work together. As tearoom business will only generate local revenue and will be known to local customers only. Revenue will be generated from a particular market segment and market share will also be limited but if they join hands with web-based business revenue and market share both will increase. Business will become global and famous also which will lead to more revenue and hence more profit’s (Smulders, 2007). Critical effect of synergies on the success of the business is dependent on various factors. If the business is done jointly it will lead to more profits and market share (Krishana, 2017). But if they are not working jointly there is a reduction in revenue and market share but it will not harm any business much as they individually also are managing their work in very efficiently. They will start some new ventures which will lead to increase in profits a market share. By becoming famous in that particular region they can increase their revenue with the help of bulk production and sales.So synergies do affect business but are not that harmful if the person themselves has capabilities.
Success of Emma's Tearoom Business
Emma Lath bury fits the profile of a typical entrepreneur. An entrepreneur is a person who is highly creative and has visionary eyes. They like to take risks and are daring decision makers. They seek independence and freedom (Rioden, 2014). For doing business an entrepreneur requires that funds shall be generated by contacting people, Purchase of materials from its suppliers, development of social networks and hiring employees for the promotion of business. There are various traits which help them to work well. This area:
- Motivated-: Entrepreneurs shall be self motivated along with that they shall have the ability to promote others. Entrepreneurs shall have passion for the idea he has and a desire to convert that idea in to a ready project.
- Integrity-: A person should have intrinsic understanding and adherence to strong ethics. There are times when a business follows unethical behavior where it faces deception by selling low quality product, but in the long run, he will lose clients and employees as he is not following standards which are essential for the long run success of the business.
- Creative-: Entrepreneurs must be creative. If he is having this trait he will be successful in long run. Creative individuals shall come up with new ideas on constant basis. This is a continuous process; once the business gains momentum and products or services are being sold, an entrepreneur has to be creative in studying consumer reaction, through various researches in the market and making improvements in the quality of the product.(Russo, 2008).
- Ready to take risk-: For becoming a successful entrepreneur it is required that an individual shall always be ready to take up the risks and face the failures. Every startup has a certain amount of risk no start-up is risk free. A true entrepreneur shall never give up and shall always take actions to improve his actions through proper evaluations.
- Inquisitive-: If an entrepreneur needs to be on top then it is advisable that he shall innovate on constant basis and keep on asking questions. An entrepreneurs shall always be ready to make improvements to the courses of action and the company.
Some of the traits which are counterproductive at this stage of business. These are listed below-:
- Multitasking -: Entrepreneurs have so many things going in their minds and sometimes they engage in multitasking which can even lead to the thrashing of business as they are not able to handle the overburden caused by additional work.
- Emotional and Temperamental-: Sometimes emotional decisions may lead to the closure of the business. One of the key traits in good entrepreneurs includes sensitivity and passion but there are times when these traits can lead to changes in mood and emotional outbursts without any kind of reasons. It is the time where a leader makes less rational decisions and therefore trust and loyalty of the customers and the associates is lost.
- Lack of Interest-: Sometimes lack of interest in a particular segment lead to unsuccessful entrepreneur. If the person is not interested in the particular segment of business operations that it will turn unprofitable and unproductive.
- Overburden-: Sometimes due to overburden of work a person feels frustrated and reaches the position of burnout. He is not in a position to work properly due to more work pressure as he is not able to concentrate.
- Confusion-: Sometimes out of confusion business becomes counterproductive as he is not able to understand which business line he should follow and which one to drop to have an ongoing successful business.
After considering the pros and cons of each of Emma's option and her personality it can be said that she should focus on one part of the business in which lies her happiness because only then she can work with interest and enthusiasm and achieve the goals of the business. Secondly, on knowing her personality, it is clarified that she can't overburden herself. She wants only that much work which she can accomplish without any burden on herself. She doesn't hesitate in quitting so she should take only that much work that she can handle so that it does not come to her mind that she should drop out one segment of business or the other or should drop out the entire business. Her personality also says that she is confused about things like she should continue her business or stop it out rightly, or should handover to some manager or drop out a particular segment.
After considering all these things I would recommend that she should go with tearoom business because of the following reasons. Firstly, she was very happy and confident when she was stick to just tearoom business as she opened this business out of her own interest and will and has done everything herself for the same. That time business was also flourishing. Secondly, this business was giving more revenue and profits as compared to web-based business. Its current growth rate was also high. Thirdly, in order to upgrade business, she organized various events and also tried new menu which gained popularity worldwide as she was having interest in this. Fourthly, if he opts tea room business only then she is not overburdened with work which will not lead to fruition and hence burnout. And last if she opts tea room business the problem of overburden is solved which will also lead to the solution of the problem of confusion.
At last it can be concluded that the business of Emma is going very well but, if she follows the above mentioned recommendations that it can prove out to be good for her business. She has been doing very well for the future growth of her business which is very good for her as well as her business in long-run
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Forjoun, M. (2002). Towards an organic perspective on strategy. Strategic Management Journal, 104.
Hankinson, G. (2007). The management of destination brands: Five guiding principles based on recent developments in corporate branding theory. Journal of Brand Management, 14 (3), 240-254.
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Krishana, M. (2017). Environmental Management: Science and Engineering for Industry.
Rioden, T. (2014). Environmental Science for Environmental Management - Page xvi. London: Cengage.
Russo, M. (2008). Environmental Management: Readings and Cases. London: Wiley Publications.
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