The third and final pillar of building a successful online presence is reviews. In 2017, 40% of YouTube users went on the platform to learn more about a product before they bought it. Everyday, we all swear by one product or service by how we dress, what we drive, by simply living our lives. With the internet, people have the power to become even more informed before they purchase a product.
The second pillar of an online presence is Social Media. Simply put, social media involves creating a page on a platform which allows you to grow a community of users on said platform. We all know of the typical social media platforms such as Facebook, LinkedIn, Twitter and now most online services try to integrate some social elements to bring in new users. In my experience, I have noticed that business leaders are often skeptical of the actual benefit social media has on businesses.
When a bank has serious questions about the sustainability of a business, which they have provided debt to (normally large amounts of debt), they often suggest that they perform a “look-see”. Although this term sounds harmless, it’s actually a very serious request that the business owner needs to be very cautious of because it can equate to serious consequences for the business and its stakeholders. When a look-see request comes through it generally means the bank has lost confidence in the business it has provided lending to.
For many business owners, the day to day grind is always on their mind. They work-hard on the things that bring them money to pay the bills and worry about the minutia when it can no longer be pushed back. For this reason, we see many business leaders who are unsure of what they will do once their leased agreements ends. Without a plan of action, they typically end up being led by sales people who may not have the best interest of their business in mind.
For many growing businesses, the decision to lease new assets is an easy one. They need the assets for operations, their needs as a growing company can change dramatically in a short span of time and in the current, fast-paced, technological climate, purchasing new assets which may quickly become obsolete can be risky. On the financial side, leasing can improve liquidity, optimize working capital and save cash for strategic investments. As such, business leaders and decision makers often find themselves juggling multiple lease agreements with differing interest rates, payment dates, end terms, etc.
In certain situations, Accounts Payables that are owed to vendors can act as a great way of bridging cash flow when cash is tight or when larger more complex issues are being addressed. In this article, we share some tactics we recommend using to help the money you currently owe to vendors become a bridge to recover.
When it comes to taking your clinic to the next level, one impactful way of doing this is through the acquisition of other existing clinics. When performed correctly, acquisitions can create large scale value for the acquirer. They offer the ability to grow sales, gain market share, increase profitability, and generate synergies.
Cash flow management problems have led to the demise of many successful businesses. According to corporate credit reporting firm Dun and Bradstreet, poor cash flow management causes 90% of small business to fail. Additionally, a recent study by the Business Development Bank of Canada suggested that poor cash flow management is the largest cause of business failure. Another by the coveted US Bank suggests that 82% of all business bankruptcies are due to poor cash flow management.
According to the Oxford Dictionary, the term ‘work-life balance’ is defined as ‘the division of one’s time and focus between working and family or leisure activities’. Achieving balance, based on this empirical separation of work versus family and leisure activities has been a topic that has been widely discussed and pursued. Unfortunately, achieving equilibrium through this notion of work-life balance is both misleading and the term itself is arguably largely antiquated.
Many leaders fail to fully recognize how crucial their employees are to their success. Understanding how to engage your employees is imperative, and by doing so businesses can reduce staff turnover and improve company performance. Reece Tomlinson provides five easy-to-implement concepts designed to enhance employee engagement in businesses of all sizes