Customer Retention and Profits. Customer retention is linked to a business’ profits. A study by Fred Reichheld of Bain & Company finds that a 5% increase in customer retention generates over a 25% increase in profits. This is due to repeat customers purchasing more from a company over time and lower operating costs to serve …
The Sound of Music is a wonderful film and a favorite of mine. There are tons of lessons about being yourself, doing what is right, and following your dream. A lot of people are doing the latter. Recessions often spur the entrepreneurial spirit, and it’s important to have focus when you start your own business. …
Customer reviews are important. The Yelp effect shows that reviews affect revenue. A one star increase on Yelp translates to about 5 to 9 percent increase of revenue. 90% of consumers read online reviews before visiting a business. And 88% of consumers trust online reviews as much as personal recommendations. Thus, it is important to …
Always consider the customer experience. Making your on-boarding process as painless as possible means greater customer satisfaction and potentially customer referrals. An important process is communicating timelines to meet your customer’s expectations. How to Meet Team Deadlines Set reasonable time frames and deadlines for your team to hit. Not only is it important to meet …
Small and medium businesses are the backbone of the American economy. Statistics put small businesses, businesses with less than 500 employees, at about 99.7% of all businesses in America. With such a huge number, small businesses seem to be thriving all across the country. But this is not always the case. A huge number of …
Benefits of Account Receivable Funding for Small and Medium Businesses Read More »
AI or artificial intelligence – what are the benefits for your business? I’m not a technology expert so what are some of the benefits of AI for my business? So artificial intelligence is in the news a lot these days, you’ve probably seen it, Amazon using robots in their factories, all sorts of things. …
How Artificial Intelligence Is Changing Business | #TheMoneyFactor EP 013 Read More »
A study by U.S Bank states that a lack of cash flow causes business failure in over 82% of organizations. If you are starting your business, you may not have enough capital to keep things moving, which makes it hard to get off the ground, let alone thrive in your field. To keep your business …
How To Choose A Factoring Service: 6 Mistakes To Avoid Read More »
Are you worried about recession-proofing your business? That’s what we’re talking about today, on The Money Factor. Hi, I’m Ian Varley, welcome to The Money Factor. A lot of people are worried about recession-proofing their business. We’ve been getting a lot of questions online. Let’s take the first one.
#TheMoneyFactor Episode: 007 – How do you manage your cash-flow and expenses and maximizing the value of your business www.EagleBusinessCredit.com Twitter: https://twitter.com/EagleBizCredit Facebook: https://www.facebook.com/EagleBusines… Facebook: https://www.facebook.com/TheIanVarley LinkedIn: https://www.linkedin.com/in/ianwjvarley/ LinkedIn: https://www.linkedin.com/company/eagl… #SteveNevin #IanVarley #EagleBusinessCredit #Factoring #CashFlow #Expenses Today on The Money Factor, I have Steve Nevin from B2B CFO with me. Great questions coming in, …
Many growing businesses considering accounts receivable funding have concerns about how a factoring company will affect their customer relationships. Will they think my business is struggling? Will they be hunted down by my financier for late payment? Will they be uncomfortable not paying my business directly? We’ve heard all of these questions, but we find …
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