Was 2016 just as bad for your business as it was for humanity? Good thing it’s a new year! Take some time to look over your company’s 2016 statistics. What went right? What went wrong? It’s time to tweak your business plan and start fresh. Here are some tips to help you have a successful new year!
(Are you worried about the future of our economy? Learn how to manage your finances during an economic crisis!)
Invest in Marketing
As technology continues to make advanced gains, it’s important to consider how you are marketing to your customers. Are you still sticking to billboards and paper ads? It’s time to get with the times. Research where your customers spend most of their time. Are they more likely to be looking at a newspaper, or at their phones? Consider switching to a more cost-effective way to market: digital marketing. Digital marketing can get you in front of more potential customers for less. It’s worth looking into!
Attend to Company Morale
How are your productivity levels? Are your employees attending extra-curricular work events? Happy employees almost always lead to a happier revenue. Tend to your company’s morale by showing greater appreciation for your most productive workers. A salary boost is almost always a great incentive for workers, but if your business cannot afford that, try offering a more flexible work schedule to those employees you know you can trust. Get creative! Employees will almost always give back what you put into them!
Increase Cash Flow with Accounts Receivable Financing
Are you setting any big business goals for 2017? Chances are, you will need some cash flow to turn your goals into reality. Accounts receivable financing is a great way for businesses to gain the cash flow they need without the interest from a bank loan! Instead of borrowing money, a business can sell their accounts receivables to a factoring company for a small fee, and in return, that business frees itself of the responsibility of following up with late paying clients and receives immediate cash for their services! It’s a win-win!
Porter Capital has over 20 years of experience helping companies find financial security! If you are interested in learning more about accounts receivable financing and how it can help your business, contact us today!