The Price jump of 6.2% can be felt by everyone, it is at its highest since 1990. The reason for it can be blamed on the current state of our supply chain in a combination of the overreaching tax code businesses are facing. The cataclysmic domino effect can hurt businesses for years to come if you do not prepare for it now.
Be proactive, not reactive
We do not have to go into each detail of what is going on out here, everyone else covered that, but no one covered how to prepare as a business owner. We have compiled a list of things you can do now to ensure your business remains healthy.
If you sell a bigger ticket item or service, you need to remember that your customers need a way to finance those purchases. Rather than taking on the risk of selling your products or services on credit and chasing down payments, you should use services like Flexx Fund. They finance your customer and keep you in the loop the whole time.
Learn Your Customers, You would be surprised how many people will talk for a couple of dollars, what is that information worth to you? Everything.
The Customer is NOT always right! You should never work for free.
Evaluate everything you are paying for and ask yourself, is this making money? If that answer is no, get rid of it. This applies to products, monthly subscriptions, and contracted help. Everything, EVERY SINGLE SOLITARY MOVE should be beneficial to your business, so you can continue to grow and provide jobs for your staff.
It's okay to ask for help, you may be a superhero, but even superheroes use the resources around them and get help occasionally.
Train your staff well enough to replace you or compete with you, but treat them well enough that they desire to help you and want to stay.
Here are some great tools available now!
Meet Flexx Fund
Flexx-Fund helps businesses that sell any product or service that is worth more than $500.00 They fund transactions between you and your customers. They buy invoices, and they help you figure out ways to keep your cash flow positive. T.F.P. Certified and they have a 4.849 out of 5 rating from 9,142 existing clients.
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Plug it into your phone, and start processing payments today! It is really that easy. This is on the list because if you are not accepting credit/debit card payments, you are leaving money on the table.
You should not "cheap out" on office supplies and equipment. When you spend a couple of bucks on these items, you find they last a lot longer, and they work better. Rest assured, when you cut corners on the quality, it will always break when you need it the most.