by Bold Growth Solutions | Mar 31, 2021 | Blog, Factoring
Accounts receivable financing (accounts receivable factoring, or just factoring) is a solution that allows business owners to turn unpaid invoices into fast cash. Rather than waiting for your customers to pay, you get quick access to money, allowing you to pay your bills and grow your business. Here’s what you need to know to determine if it’s the right solution for you.
Reasons for Accounts Receivable Factoring
Accounts receivable financing is an excellent option for business owners who handle several invoices and who need cash quickly. It eliminates waiting for customers to pay their invoices, giving you what you need now without accruing additional debt.
Some reasons why business owners choose factoring include:
- You want to take on bigger jobs, but don’t want to take out a loan.
- You don’t qualify for a loan.
- You need another source of capital.
- You want to meet short-term needs without feeling a cash crunch due to uneven cash flow.
- You want to be able to pay your bills, but also have enough left over to jump on an opportunity should one arise.
How Factoring Works
Factoring begins after you provide goods or services to creditworthy customers. You’ve sent them their invoices, but they haven’t paid yet.
Typically, you would follow the following steps:
- After sending the invoice to the customer, you send a copy to the factoring company
- The factor provides you with 70% to 90% of the total value of the factored invoices
- Your customers pay their invoices
- You receive the remaining amount, minus the cost of factoring (and other applicable) fees
by Bold Growth Solutions | Mar 10, 2021 | Blog
Having a strong online presence is key these days for any business to stay successful. Though you can easily create a website that delivers crucial information to your customers, you need to think beyond basic content when it comes to the user experience. More often than not, companies lack the important resource of an accessible website. When your site functions well for all visitors in an equal way, it can totally transform your ability to connect with a customer and create a lasting business relationship. Use these tips to get your process started.
Consider the Legal Ramifications
While your main goal with accessibility should always be to help those who have trouble interpreting resources on the internet, it can also be helpful to consider the legal side of things. There are many laws in place dictating that businesses involved in specific industries must adhere to. For example, Section 508 is a rule for federal agencies that states all people have the right to equal access to tech. Though independent businesses don’t need to follow the same rules as federal agencies, it can be a great framework to build a plan from.
Start With Simple Steps
Though you might assume a lot of work is involved in making an accessible website, you would be wrong. In fact, the actions that are most helpful to those with disabilities are usually incredibly easy. Adding captions to any videos you create and share online, for example, is the least you can do for those who are deaf or hearing impaired. There are also similarly simply steps you can take to create a site that provides easier access to those who are blind or have difficulty seeing. Once the ball is rolling, you’ll see how easy it is to help.
Design Matters
The design you select for your site is about a lot more than aesthetics. When your website includes flashing or repeating images, it may seem tacky or gaudy to some. To those susceptible to seizures, however, it can trigger a serious episode. By being conscious of how design choices can hurt or hinder consumers with particular conditions, you can make a difference in your site’s appeal. Choosing the right contrast for colors can be another way to guarantee that those with colorblindness can always read text and see images presented on your web assets.
Taking the time to work on making a more accessible website can have some serious benefits for your business. Doing what’s best for all takes time, but it will help you do what’s right for those in need of a bit of assistance.
by Bold Growth Solutions | Feb 10, 2021 | Blog
If you’re a digital marketer, your social media marketing should be a high priority. There are many decisions to make, including which platforms to use, who’s responsible for the accounts, and your overall strategy. Keeping things working smoothly can be a serious challenge. Fortunately, there are several things you can do to set up your social media for success. Here are a few areas to focus on.
1. Preparation
If you already have social media accounts, do some kind of audit to determine where you currently stand. It’s crucial to determine whether your current strategy is contributing to your success. Tools such as Sprout Social can help you get started. If you’re starting from scratch (or after the audit), research your competitors and make notes on how you might employ a similar approach that’s unique to your business.
2. Planning
Set goals for your social media. Make them SMART (specific, measurable, attainable, realistic, and time-bound). This is how you’ll measure your social media marketing success. Once your goals are set, you can build out an effective, actionable plan. Be sure that every step toward accomplishing each goal is aligned with your overall digital marketing strategy. Developing your plan can be a fun, creative part of the process.
3. Delegation
If you’re going to be managing your social media accounts, get on a couple of mailing lists of social media gurus who are relevant to your business, and get up to speed on current best practices. If you’re delegating the job, make sure that your social media manager is dependable, has excellent communication and people skills, and has the required knowledge and know-how — or is willing to learn quickly. It’s a good idea, at least at the outset, to have a supervisor be a co-administrator in case you need extra hands on deck.
4. Automation
From scheduling tools to behind-the-scenes analytics that help you determine what’s working and what’s not, there are many ways to streamline your workflow and fine-tune your strategy. Regarding scheduling of posts, your social media manager’s overall workload may help you come up with the best approach. Also, decide how often and under what circumstances you check the analytics of your platforms. You might be surprised what you find when you do a deep dive into your stats.
Getting your social media accounts up and running requires a focused, stepwise approach. Try these tips to get started.
