1. Contact with a friendly payment reminder When payment first becomes overdue, give your customer a courtesy reminder by phoning, emailing or sending them a letter. Contacting them may be enough to get the invoice paid – they might've forgotten about the bill, paid the money into the wrong bank account, or there could be another minor issue that's easily and quickly resolved. Include payment options, banking details and contact information in the reminder to make it easier f
Post (and engage) on social media Increasing social media engagement and building a community online is a free way to grow your small business while expressing your brand’s personality and building trust with your audience. Create business accounts and participate in the big social media sites—Facebook, Instagram, LinkedIn, Twitter, YouTube, and more. This is something you can do whenever you have a few minutes to spare. You can: Promote your blog posts, which drive traffic t
We all have outstanding debts and staying on top of them is imperative for small business cash flow. One the first things to remember is that you should make a point of keeping records of all email, mail and phone correspondence with your customer during the debt collection period – records of any missed payment dates previously agreed to are helpful if the process escalates. Over the coming 6 weeks we will outline a Debt Recovery Procedure you may wish to follow. It is alw
Create a free Google My Business account For local businesses a Google Business Profile has become one of the most effective free marketing strategies available. This free listing allows your business to show up on Google Maps, the local section of Google Search, and the right-side Knowledge Panel for branded searches. But in order for your Business Profile to show up higher on Google Maps or local results, you need to optimise your Business Profile, and in order to optimise
Focus on current customers Acquiring new customers is important, but you must invest a large portion of your resources in your existing customers. Continue to nurture and build upon the relationships that you have established. Customers who trust you will surely want to buy more from you. When you enable them to easily purchase additional products and services, you will find that it is much cheaper to sell to existing customers than it is to find a new customer.
Whether you’re a business owner, senior leader or a manager, to be best-equipped to support your employees, it's important that you prioritise your own wellbeing – both physical and mental. Some practical tips Try to maintain perspective. Make sure you are accessing accurate information for your situation. Structure your days and establish a routine as best you can. Establish regular sleeping patterns and make sure to get enough rest. Look after your physical health, and find
Boost your email marketing Businesses that thrive in the coming year will be those who invest their efforts in smart email marketing. Every year, a few experts predict the death of email marketing, and every year their predictions prove inaccurate. Sure, social media and other forms of digital marketing are on the rise. However, email marketing continues to be one of the most effective means of reaching new and existing customers.
Across various industries, companies have had to adapt their operations to comply with social distancing protocols and stay afloat during an economic downturn. These conditions have made it difficult for many existing businesses to survive and even more difficult for new ones to open. Launching a startup is a complicated feat in the best of circumstances, and it's an especially complex process to tackle during COVID-19. Many people might think it impossible to pursue entrepre
Hire and fire guided by your purpose, values, and mission One of the core principles of your discussions is to hire and fire based on your company’s purpose, values, and mission. If there’s an employee who does not share your purpose, values or mission—don’t hire them—no matter how smart they are. Every successful entrepreneur needs a motivated team that’s already bought-in, not sold-in, to the company’s vision.