Small-to-Medium Enterprises (SMEs) often lack the sheer size they need to compete with much larger, international firms. Doing business in an environment where you’re one of the smaller fish is difficult, which is why smaller businesses often align their objectives with other, similar businesses to create business networks. These networks let SMEs work together to accomplish larger objectives, which increases their competitiveness with bigger companies, and as such, they’re very important for the businesses involved.
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Topics:
small business,
attract new customers,
build business networks,
business blog,
increase sales,
networking
Bartercard is a platform where businesses can barter trade their goods and services using trade dollars. Joining this immense online marketplace offers numerous benefits for a business owner just like you. It aids your business by turning your excess inventory, spare downtime, and vacant seats into additional sales—expanding your business and profits.
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Topics:
market research,
build business networks,
unrealised potential,
increase sales,
business needs,
networking
A business cycle is the natural rise and fall of economic growth over a period of time. The cycle is a useful tool for analysing the wider economy, as the upward and downward fluctuations show variations in production, employment, wages, and investment. Understanding the cycle allows you as a business owner to make better financial decisions with the goal of helping your business increase profit despite the downturns. Today we discuss the five main phases of a business cycle: expansion, peak, recession, trough, and recovery.
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Topics:
buyer demand,
small business,
business start-up,
business blog,
unrealised potential,
increase sales,
barter,
business needs
Business networking is an essential growth strategy to scale up your business and create a real impact on your bottom line. Finding a supportive network can help you find true value in your work, as you help your customers with your products and services, while making authentic connections.
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Topics:
attract new customers,
trade exchange,
build business networks,
increase sales,
business needs,
networking,
trade dollars
Research shows conclusively that your existing customers are your best chance at increasing your overall sales. Closing a deal with a potential new customer is tricky and doesn’t actually happen all that often—even if your sales team are virtuosos of the craft. Statistically speaking, you’re much more likely to find success selling additional products and services. That’s where upselling and cross-selling come in. Unfortunately, people hear a lot about these kinds of tactics, and it’s easy for them to switch off if you take a poor approach. What exactly are these tactics, and how can you employ them effectively?
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Topics:
unrealised potential,
increase sales,
business needs,
trade dollars
As a small business owner, consistent, constant marketing plays a big part in making sure your audience knows you, what you offer and what makes you unique. It would be great to simply open the door to your business every day and wait for the customers to roll on in. In reality, we know that doesn’t happen without a LOT of effort.
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Topics:
business strategies,
growing your business,
increase cash flow,
social media,
small business,
content marketing,
increase sales,
trade dollars
Understanding the financial health of your business can be an extremely overwhelming task to get your head around. Unless you have a passion for figures then it’s an area that can cause a lot of frustration and stress. You may have a handle on your profit and loss statement, but are you able to look deeper and really see how your business is going?
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Topics:
Accounting,
increase cash flow,
small business,
attract new customers,
save cash,
spare capacity,
unrealised potential,
increase sales,
business needs,
trade dollars
To increase business profits, you don’t need to allot a huge portion of your company’s budget. Even the best planned marketing campaigns can fail. Every facet of business decision-making, including one’s marketing strategy, almost always involves risks, and a positive turnout isn’t 100% guaranteed. As market behaviour continuously changes, investing in large, high-cost campaigns don’t always translate to increased sales. Thankfully, there are ways in which your business can achieve maximum profitability minus the costly investment. Here, we talk about low-cost effective strategies, which can pave the way for business growth.
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Topics:
small business,
save cash,
branding,
increase sales,
business needs,
trade dollars
Did you know that the ancient concept of bartering goods/services is still relevant in this age of digital money? Yes, as amazing as it may seem, trading your products in exchange for what you need or would otherwise have purchased in cash can be the ultimate business tactic. Not only do you attract new customers in the process, but you also increase the profitability of your business, managing stock more effectively and participating in a supportive network of other businesses. What’s more, a healthy barter relationship can serve as a perfect opportunity to turn your bartering members of today into the paying clients of tomorrow. After all, opportunities for extra income shouldn’t be passed up!
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Topics:
attract new customers,
save cash,
build business networks,
unrealised potential,
increase sales,
networking
Most business marketing efforts are split between the competing goals of customer acquisition and customer retention. While new customers translate directly to more business, and greater opportunities for expansion, every business still needs its share of loyal customers to remain afloat. Establishing customer retention as an integral part of your larger marketing strategy is important for the long-term success of your business. Even big corporations rely on their customer loyalty strategies for their business to run smoothly! Find out some of the perks of having loyal customers for your business.
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Topics:
attract new customers,
increase sales,
business needs,
networking,
customer loyalty
