Mortgage Applications Down Last Week

The Mortgage Bankers Association (MBA) tracks purchase and refinance applications weekly, and they were down 1.2% for the week ending May 23, 2014. This was true for 15- and 30-year conforming loans, FHA loans, and adjustable rate mortgages (ARMs).  All interest rates were fractionally lower than the prior week, too.  See the details here.

Is There A Coffee Shop Etiquette?

The relaxed nature of a coffee shop is very good for certain things like meeting with current or potential business partners, discussing trends in your particular industry, or outlining a joint marketing plan. Most of us wouldn’t take a restaurant table for a long period of time, and certainly not without ordering.  Which begs the question of this post, is there a coffee shop etiquette? If there’s not, there should be.

As I was thinking about my behavior and experiences, I decided to poll some associates that frequent coffee shops as part of their weekly routine, either for business or otherwise. I was fortunate to have an opportunity for input from a couple of shop owners, too.  So let’s get down to the etiquette.

Don’ts

Do not assume that refills are free – even if the pots are available and in the open.  If the refills are free, there’s likely a sign stating it.  Coffee is expensive and there are very few bottomless refills places around.  Ask about refills when purchasing your first cup. Some shops offer refills at a lower price than the first cup. A related don’t is that you NEVER bring in your own food or beverages.

Refrain from turning up the volume on your devices. Use earphones or keep the volume low enough that the neighboring tables can’t hear it.

Don’t just show up with a larger group.  The magic number seems to be four. Larger than that and you should give the shop a courtesy call to make sure they are expecting you. Often they will reserve a space for you. If you plan to have regular meetings there, make arrangements with the owner. Some coffee shops have private meeting rooms that will accommodate up to 20 guests, but they need to be reserved in advance.

Do not abuse the wifi privileges.  Streaming music or videos can take up a lot of bandwidth and if everybody did it internet service would be lousy for all. Often there are small children in the shop with their family, so wait until you get home for browsing questionable sites, streaming video and playing online games.

Use the ‘right size’ seating. If it’s just you trying to check email or some quick facts, sit at a small table.  And keep your tablet/laptop/phone charged.  It is poor form to grab that booth for four just because you need the only available outlet.  Especially if the place is busy.

Do’s

Buy something.  Especially if you’re camping out for hours and hours. A purchase every 90 minutes or so seems to be about right.  And c’mon – make sure you leave a decent tip.  15% on a cup of coffee and a muffin or a bagel isn’t bad overhead for a temporary work space.

Recommend the shop to friends. Tell them about the wonderful atmosphere, friendly owner and staff, the great coffee and food.

Use your eyes and some common sense.  If the place is packed don’t linger for half the day with one small cup of coffee because you’re tired of working from home, Mr. or Mrs. Telecommuter. (See ‘Buy something’, above.)

Feel free to use your cell phone and be productive.  But try not to talk so loud as to annoy or aggravate the other patrons.  I use a noise cancelling Bluetooth earpiece, but even then I may have to step outside to hear a conversation well in a noisy environment. If you’re having a ‘sensitive’ conversation, it is likely better to step outside or converse from the privacy of your car for a while.

Coffee shops like being busy.  They try hard to make the environment inviting and open.  Like other businesses, they want repeat customers, and want you to feel at home. National chain shops are often owned by a franchisee that also lives in the community. It may be a ‘national brand’ on the sign, but it’s still a local business. And those owners often are connected to their regular customers through friendship, caring, and a desire to be of service to their community.

One successful businessman I know stops for coffee on his way to the office a few times a week. His visits fall more into the social category, but he has picked up some business by forming relationships with the shop’s clientele – even though it is not his primary purpose. His visits last less than an hour and he always buys something.

When in doubt, follow the Golden Rule – “One should treat others as one would like others to treat oneself.”

image #1 courtesy of kanate/freedigitalphotos.net; image #2 courtesy of amenic181/freedigitalphotos.net