Category Archives: Small business

How to Create Memorable Customer Experiences Using Social Media – Step 4 – Be Proactive

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Ezypay's 7 wasy to create memorable customer experiences

Be Proactive with Socila Media

I recently found this great article with 7 Ways to Create a Memorable Customer Experience with Social Media.   They are really simple, but easy to follow steps that everyone can do in their business.  I know we are all time poor so I thought that I would break it down into a step by step guide.

Step 1: Give Your Customers a Place to Talk 

Step 2: Integrate Social Media into your Customer Service

Step 3: Activate Your Existing Customer Base

Here is the fourth step in the series – Step 4: Be Proactive

You don’t have to wait for your customers to talk to you – you can go out and interact with them.  There is nothing to stop you from finding them and thanking them for their business.  You can especially interact with them if they are talking about your brand or mentioning an issue that your brand can help them solve!

When your customers come into to see you and they fill in a customer or membership enrollment form do you ask them for their social media contacts?  What’s stopping you from doing this?

How do you proactively connect with your customers?

Here is the link to the full article http://mashable.com/2011/11/03/social-customer-experience/

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31 Day Cash Flow Challenge – all 31 daily tips

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Ezypay’s 31 Day Cash Flow Challenge

31 Daily Cash Flow Tips

During the month of January 2012 Ezypay shared our cash flow expertise and running a 31 Day Cash Flow Challenge.  Here is a reveiw of all the daily tips.

An eBook will be available soon.

Day #1 – Make sure you know your current financial position

Day #2 – Make sure the price is right and you are covering your costs

Day #3 – Reconcile your membership income on a weekly basis

Day #4 – Reduce non-core-expenditure

Day #5 – Carefully budget payments for essential expenses

Day # 6 – Keep stock levels to a minimum

Day #7 – Set your credit terms carefully

Day #8 – Planning for the lumps

Day #9 – Pay your creditors strategically – guest blogger Heather Stone – You’ve Been Promoted

Day #10 – Are you addicted to lump sum revenue? Guest blogger Justin Tamsett – Active Management

Day #11 – Don’t incur tax and other statutory penalties

Day #12 – Send invoices on a daily or weekly basis

Day #13 – Invest spare cash in a high interest account

Day #14 – Be really stingy and eradicate unnecessary expenses

Day #15 – Get finance products working to your benefit

Day #16 – Don’t forget about Pro-rata payments

Day #17 – Spread out payments over a reasonable time frame

Day #18 – Do a cash flow projection

Day #19 – Bring in the professionals

Day #20 – Make more sales

Day #21 – Do you know the difference between a balance sheet and profit and loss

Day #22 – Get another quote or two

Day #23 – Discount …. but only for profit

Day #24 – Regularly complete an expense audit

Day #25 – Make someone responsible for debt recovery – guest blogger Rowan Brown, Director, Recovery Partners

Day #26 – Understand the impact of payment cycles on your business – guest blogger Rohen Burton, Chief Financial Officer, Fit n Fast

Day #27 – Use Paretos 80/20 rule – guest blogger Rohen Burton, Chief Financial Officer, Fit n Fast

Day #28 – Set up a USD account – guest blogger Rohen Burton, Chief Financial Officer, Fit n Fast

Day #29 – Collect Bad Debts ASAP – guest blogger Rohen Burton, Chief Financial Officer, Fit n Fast

Day #30 – Growing a business using 3 to 5 yr projections-  guest blogger Rohen Burton, Chief Financial Officer, Fit n Fast

Day #31 – Ways to find hidden money in your business –from the Australian Business Centre

31 Day Cash Flow Challenge Day #31 – Ways to find hidden money in your business

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Ezypay’s 31 Day Cash Flow Challenge

Ways to find hidden money in your business

Extract from the Australian Business Centre.

Most businesses have a hidden source of extra cash right in front of them.  Here are a few ways for you to find that hidden money.   

  1. Rent or sell off unused space

If you have some empty space that you are not using wouldn’t it make sense to lease this out? If you really don’t need it you could consider selling a concession for it. It is far better that the space is used by somebody else rather than just left doing nothing.

  1. Rent wall space to advertisers

If you have some empty wall space outside your business you could consider renting this out to advertisers; you will need to check with local laws first before making this move though.

  1. Temps and Freelancers

If you don’t have enough work to keep all of your staff productive you might be better off letting them go.  You might consider hiring some freelance workers that you can use when you need to. Having less full time workers will also mean that you won’t have to pay so much on employee benefits and office equipment that they would need if they were with you all the time.

  1. Lease rather than own

Consider leasing rather than owning assets. It is important that you do a cost benefit analysis to see if it would make more financial sense for you to lease rather than own assets. Keep in mind that if you lease them you won’t be able to claim them as a business asset.

  1. Rent out unused equipment

If you have any equipment that you don’t use all the time you should also consider renting this out during the quiet times. Weekends and evenings is a time when this equipment is idle; it could be making money for the business instead.

31 Day Cash Flow Challenge Day #30 – Growing a business using 3 to 5 yr projections

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Ezypay’s 31 Day Cash Flow Challenge

Growing a business using 3 to 5 yr projections

 Guest blogger Rohen Burton, Chief Financial Officer, Fit n Fast

If you are planning to grow your business, create cash flow projections out for 3 to 5 years. Once you have a base projection, save a few copies so you can do what if scenarios. What if I borrow more money now? What if I raise more capital? What if I speed up/slow down growth?

Follow the 31 day Cash Flow Challenge here and on Facebook.

 

31 Day Cash Flow Challenge Day #29 – Collect Bad Debts ASAP

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Ezypay’s 31 Day Cash Flow Challenge

Collect Bad Debts ASAP

Guest blogger –  Rohen Burton, Chief Financial Officer, Fit n Fast

This might be obvious but try to collect bad debts / failed payments as soon as possible. And always target the low hanging fruit first. The highest collection rate for failed payments is immediate and then the rate of collection falls for every day that goes by.

Follow the 31 day Cash Flow Challenge here and on Facebook.