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The hot Georgia summer is in full bloom and the kids will back-to-school in a few weeks! Now is the time to get them ready and we’ve got health providers ready to help save you cash! Be sure to call your trade coordinator for helpful tips and provider info at (770) 591-4343.
Some ideas for back-to-school prep include:
Thanks Entrepreneur for the great article on modern barter! The Barter Company is a proud member of the National Association of Trade Exchanges (NATE) where our CEO served as President multiple years. NATE is proud to be the “trade exchange for trade exchanges”. Check out this great article here or read below:
For the majority of small business owners, cash is most definitely king. In hopes of increasing their bottom line, business owners often pay themselves much less than they deserve. The truth is, you have to spend money to make money. That being said, there’s no reason why you shouldn’t be saving wherever possible. While some tips work better than others, here are a few you can implement right away and start saving.
In an era of endless technology and knowledge, it’s probably “been done before”. Just because you have competition, doesn’t mean you’re too late. There’s always room to find your niche and provide value where your competitors can’t. This is actually a great way to save yourself time and money.
Whenever possible, look to work with larger companies and utilize their pre-existing technologies or infrastructure. You can either swap services or create a revenue-sharing agreement in exchange for access to their services. Ideally, they will allow you to white-label their products so you can create an original brand presence. This strategy will surely save you thousands and give your business time to build out your own products and or services.
Taking advantage of group buying and collective purchasing is a great way to save cash. By joining these groups you’ll have access to discounts and exclusive rates on office supplies, hardware, business travel, and much more.
There are plenty of group buying services you can utilize based on your particular business needs. If you’re a non-profit, ThriveGPO provides a great group purchasing tool. If you’re a smart business owner, you’ll never buy alone.
If you’re looking to avoid cash outlays or unload slow-moving inventory you can always look to swap your products and services for others. Bartering with other companies can be time consuming, so if you’d rather not bargain with other companies directly you can always hire a commissioned barter broker. Otherwise, you can join a commercial barter club or exchange.
The National Association of Trade Exchanges (NATE) is a registered clearing house for member exchanges nationwide. NATE essentially allows business owners to swap any product or service with anyone. When a sale is made, participants will often receive trade dollars for their goods and services. Trade dollars are brokered across cities nationwide under NATE.
If you haven’t done so already, it’s a good idea to apply for a business credit card. Since issuing banks assume business owners will spend more on a business card than a personal card, the rewards tend to be much more enticing. According to NerdWallet, here are the best small business credit cards of 2017:
When you redeem your credit card rewards, you should also look to redeem in the form of a gift card. Companies often times offer gift cards that you can purchase with credit card rewards points. From a dollar per points perspective, you’ll get the most bang for your buck using this strategy. If you know you’re going to need to make some big purchases on office supplies, look to purchase a gift card for Ikea for example. Using these simple but effective strategies are a great way to save much needed cash especially on larger purchases.
There’s no better way to save money than to get a service for free. Instead of investing large amounts of money in enterprise software for your business, you can find much less expensive SaaS tools to meet your needs. These services often provide free trials, some as long as a month. After the trial period is over, they’ll typically offer tiered pricing that allows you to pay as you scale your business. Whether it’s a payments solution, CRM software, or simple accounting tools, you should always start with a free trial.
Free consultations are very effective when seeking legal advice. Some business attorney’s charge as high as $600/hour and bill you to the second. Typically, a lawyer will give you about 30 minutes to even an hour of time as a consultation with the assumption you’ll choose them as your legal council. If you’re just looking to get a few questions answered, use a few attorney’s and get a few consultations. If you use this trick with three or four attorney’s you’ve just saved well over $1000 in legal fees.
Generally, you should be well aware of your expenses at all times. However, it’s best to do a full analysis quarterly to determine which expenses are necessary and which aren’t. Software that you used last quarter may be obsolete to your business now, so you’ll want to cancel that subscription. It’s easy to forget about all the various software and business tools you’ve signed up for over the years. It’s good to “trim the fat” each quarter so you can make every penny count.
Regardless the size of your business it’s very important to stay on top of your financesand be frugal. Especially for smaller companies, your growth depends heavily on how your dollar is spent. If you implement these six strategies you can save your business thousands of dollars each month, so get out and build that business!
Summer can be a perfect time for leaving town, relaxing, and slowing down. The kids are out of school and that makes the adults want to do less too. Sounds great until you realize that customers taking a break can negatively impact your sales.
Some businesses naturally have cyclical business periods like theme parks, beach resorts, ski stores, and ice cream shops. But other businesses can too. For example, an accounting firm may not be as busy in the summer and fall when most customers are not thinking about taxes. In this case, the firm’s owner has to get creative on how to bring in customers during the down times, as well as diversify their products and services, and carefully manage cash flow.
Almost all companies have slow times. Yours might be different from the accounting firm, bathing suit store or dentist. That’s why it’s important to analyze your sales figures on a weekly, monthly, and year-over-year basis. See any trends? Are there certain times that are slower than others? If so, you need to pay attention and address this open time by filling it with sales opportunities.
Here are some ideas to help ensure that your business doesn’t suffer during these slow times:
Many of The Barter Company’s clients use barter to help them through the slow times. If you have open appointments, fill them with barter customers. They will bring you barter cash that you can use on other expenses without using the money you’ve saved. Barter can also bring in new customers. If a barter customer sees the dentist and likes their service, they now have a loyal new customer who will spread the word and keep coming back – all year long.
The Barter Company is a proud member of the National Association of Trade Exchanges, the premier barter association for independent exchanges nationwide. Our CEO, Ric Zampatti, has served as past President of the Board of Directors. We are excited for the mention in this online edition of Entrepreneur Magazine. Check out this great article on modern barter!
To view entire story, click here.
While the public at large enjoys the sunshine of summer, many entrepreneurs absolutely dread the “summertime slump.”
We may not be able to point the finger at a single reason why many businesses both online and off tend to move at a snail’s pace as the weather heats up, but some symptoms of the summertime slowdown include:
All that being said, summertime doesn’t necessarily have to spell gloom and doom for businesses. Whether you’re a web-based entrepreneur or currently handle a team face-to-face, consider the following four ways to ensure that your business survives the summertime slump. With a bit of luck and some creativity, you might even benefit from it.
It doesn’t matter whether you’re working with dedicated employees, freelancers or remote workers: you need to outline crystal-clear expectations for your team during the summer months.
For example, if anyone’s not going to be available for an extended period of time, you should strive to know as far in advance as possible (at least two weeks), so you’re not caught understaffed. By knowing in advance when your team members will and won’t be shuffled around, you can plan out essential meetings and deadlines accordingly.
Bear in mind also that the summer represents a prime time to reflect on hiring. Typically, businesses hire fewer workers over the summer: As such, it’s certainly not the ideal time of year to cut talent loose. However, take a moment to assess your own team members and their performance, as you’ve reached the halfway point of the year to start thinking about what your staff needs in the coming months.
Unless you work in an industry which thrives during the summer (think: hospitality or tourism), it’s probably best to press the pause button on any new product launches or marketing campaigns. Not only will holding off effectively keep more money in the bank, but will also allow you to wait until your team’s heads are 100 percent in the game.
Some critics may argue that timing is overrated in terms of launches, and they’re not necessarily wrong. After all, the launch that happens at all is often much better than one that never got off the ground, right? Besides, not all startup ideas rely on a particular “season” or time of year to gain traction.
However, starting early on your biggest projects affords you some wiggle room with your budget and resources. When in doubt, you’ll find that it’s better to allocate an extra month or two of prep time, versus churning out something that simply isn’t ready.
Don’t use the slow months as an excuse to slack, either. Use this time to look toward the future and think about the bigger picture of your business and its next major project.
Much as you might want to rethink your team at the midway point of the year, the summer months are a great time to slash any needless expenses.
Perhaps you’ve realized that your latest social campaign is a complete bust, or that that freelancer you hired to take care of your marketing content just isn’t cutting it. Even the seemingly smallest cuts can add up over time and help grow your nest egg during the off-season.
Although you don’t necessarily have to start pinching pennies over the summer, erring on the side of caution with your business’s budget is always a safe bet.
Here’s the elephant in the room for many small businesses that struggle over the summer: Why do you have an off-season in the first place?
Sure, it’s easy to blame your industry, but what if there were steps you could take to strengthen your bottom line year-round? Savvy entrepreneurs should constantly look for new opportunities to sell without reinventing the wheel or investing too much initial capital. Consider strategies such as:
While you aren’t expected to roll out these additional opportunities tomorrow, they’re definitely something you can start thinking about during your downtime.
Rather than allow your business to fall prey to the summertime slump, do everything in your power to be proactive. Don’t worry about “what-if’s” or the possibilities of your bottom line falling behind. Instead, think about how you can use the slower months to actually bolster your business in the long run.
(courtesy of Constant Contact)
For some small businesses, the summer is the busiest time of year. For others, it’s the slow season. Regardless of what time of year it is for you, there are things all small business owners can do this summer to be proactive and productive.
And whether you’re taking advantage of the extra foot traffic in your store or a quiet space in time to reflect and think about your future goals, these tips can help you make the most out of the next few months. Tomorrow’s success really does start today, so it’s important that no matter what season you’re in, you are thinking ahead and getting ready.
We asked our Marketing and Communications experts here at Constant Contact what their summer tips were. Here’s a list of our top 5:
“Take or collect fun pictures of your customers or members enjoying the summer weather. Then, share those pictures on your social networks during the cold days of winter to give them something to remember fondly of or look forward to. You’ll have fun doing it and create some great engagement with your loyal followers.”
– Dennis Nations, Senior Content Strategist
“Take advantage of the potentially slower summer months and try out one of the ‘hot’ visual social media platforms like Instagram, Vine or Pinterest. Set a reasonable goal for yourself (i.e. upload 2 new photos a week) then, in September, decide if you want to continue to grow your presence on that channel.
You could also experiment with a new type of social media post. Consider trying a Facebook quiz/trivia question, a caption contest, an ‘if you could…’ question or feature a customer story.
Definitely change your Facebook cover photo to an image that reflects summer and your brand too!”
– Danielle Cormier, Corporate Community Manager
“When adding an email sign-up to your website, be sure to have the “Join My Mailing List” feature at or near the top of each page of your website.
When offering a local deal, don’t discount too deeply and set a limit to the total number that could be bought.”
– Justin Tryon, Education Development Specialist
“Summer is a great time to grow your email list, especially if the summer months are the busiest of the year. Something as simple as a paper sign-up sheet can go a long way in helping you stay in touch with people after they visit your store, eat in your restaurant, or come into your office.
It’s also a great chance for you to personalize your sign-up experience a little more than you may have in the past. In addition to asking for their name and email address, you could also ask for their hometown to find out whether or not your new contacts are local or discovered your business while on vacation. You can use that information to better target your messages throughout the entire year.”
– Ryan Pinkham, Content Developer
“People rely on Yelp reviews and trust them just as they would a personal recommendation. This summer, take advantage of Yelp, especially if these next few months are busy.
Setup a Yelp page and then simply put a sign near your cash register that gives customers a discount if they write a Yelp review for your business on the spot. This is a great way to boost your visibility on Yelp in just a few short months.”
– Leanne Kennis, Content Editor/Writer
Keep these 5 tips in mind this summer and you’ll reach new customers, continue to engage existing customers, and just have a little extra fun!
Trading is now at your fingertips thanks to our FREE “Trade Studio” mobile app!
Available for iPhone, Droid & iPad.
Call us at (770) 591-4343 if you need access to your barter account # or pin #.
As we celebrate 22 years in business, we want to thank our wonderful clients who have helped grow our company into what it is today. We will continue to work hard to evolve The Barter Company and give you the best, most beneficial experience in the barter industry!
Saturday, March 3rd at the Metropolitan Club in Alpharetta from 7:00- 10:30.
T$250 couple / T$150 single
Price includes: dinner, drink tickets, gambling money, music, dancing, formal photos, prizes and more!
Please RSVP by completing the form below.