SupplySide’s Post

Do you need help determining if a business line of credit is the right decision for your company? This article by ✔ Gene Naftulyev explores what business lines of credit are and how to use them effectively. Lines of credit can be a valuable tool for short-term business needs, but it is essential to understand how they work to get the most out of them. 

Companies want to make it easy to buy their big ticket items, especially at times of economic uncertainty. A popular technique is to offer 0% financing when you buy furniture, electronics and other household items. You can also take matters into your own hands with a credit card that offers 0% APR on purchases, balances transferred to the card, or both. #Financing #MMRCPA #FinanceTips

Attention Business Owners! 💳 Changes in processing rates and hidden charges can quickly add up and impact your bottom-line, more than you may think! At Bespoke Merchant Solutions, we’re here to help you navigate any changes that may happen and ensure you’re getting the most competitive deal possible. 💡 Don’t let hidden fee changes catch you off guard—reach out to us for a free review of your current setup! Learn more at: (link to increase fees blog when posted)

6 𝐬𝐭𝐫𝐚𝐭𝐞𝐠𝐢𝐞𝐬 𝐭𝐨 𝐞𝐧𝐡𝐚𝐧𝐜𝐞 𝐲𝐨𝐮𝐫 𝐛𝐮𝐬𝐢𝐧𝐞𝐬𝐬'𝐬 𝐜𝐚𝐬𝐡 𝐟𝐥𝐨𝐰 𝐛𝐞𝐟𝐨𝐫𝐞 𝐬𝐞𝐥𝐥𝐢𝐧𝐠: 𝐓𝐢𝐠𝐡𝐭𝐞𝐧 𝐜𝐫𝐞𝐝𝐢𝐭 𝐭𝐞𝐫𝐦𝐬. Reduces payment delays. • Shorten payment deadlines • Tighten credit policies • Follow up quickly 𝘗𝘳𝘰𝘮𝘱𝘵 𝘱𝘢𝘺𝘮𝘦𝘯𝘵𝘴 𝘪𝘮𝘱𝘳𝘰𝘷𝘦 𝘭𝘪𝘲𝘶𝘪𝘥𝘪𝘵𝘺. 𝐀𝐜𝐜𝐞𝐥𝐞𝐫𝐚𝐭𝐞 𝐢𝐧𝐯𝐨𝐢𝐜𝐢𝐧𝐠. Speeds up revenue entry. • Invoice immediately • Use electronic invoicing • Offer multiple payment options 𝘍𝘢𝘴𝘵𝘦𝘳 𝘪𝘯𝘷𝘰𝘪𝘤𝘪𝘯𝘨 𝘭𝘦𝘢𝘥𝘴 𝘵𝘰 𝘧𝘢𝘴𝘵𝘦𝘳 𝘱𝘢𝘺𝘮𝘦𝘯𝘵𝘴. 𝐂𝐮𝐭 𝐮𝐧𝐧𝐞𝐜𝐞𝐬𝐬𝐚𝐫𝐲 𝐞𝐱𝐩𝐞𝐧𝐬𝐞𝐬. Enhances financial health. • Review regular expenses • Eliminate wasteful spending • Negotiate with suppliers 𝘙𝘦𝘥𝘶𝘤𝘪𝘯𝘨 𝘤𝘰𝘴𝘵𝘴 𝘪𝘯𝘤𝘳𝘦𝘢𝘴𝘦𝘴 𝘯𝘦𝘵 𝘤𝘢𝘴𝘩 𝘧𝘭𝘰𝘸. 𝐋𝐞𝐚𝐬𝐞, 𝐝𝐨𝐧'𝐭 𝐛𝐮𝐲. Preserves cash reserves. • Lease equipment • Opt for renting spaces • Avoid heavy upfront costs 𝘓𝘦𝘢𝘴𝘪𝘯𝘨 𝘳𝘦𝘥𝘶𝘤𝘦𝘴 𝘮𝘢𝘫𝘰𝘳 𝘤𝘢𝘴𝘩 𝘰𝘶𝘵𝘧𝘭𝘰𝘸𝘴. 𝐈𝐧𝐜𝐫𝐞𝐚𝐬𝐞 𝐬𝐚𝐥𝐞𝐬 𝐩𝐫𝐨𝐦𝐨𝐭𝐢𝐨𝐧𝐬. Boosts immediate cash flow. • Offer limited-time discounts • Create bundle deals • Promote heavily to existing customers 𝘚𝘩𝘰𝘳𝘵-𝘵𝘦𝘳𝘮 𝘨𝘢𝘪𝘯𝘴 𝘤𝘢𝘯 𝘴𝘵𝘢𝘣𝘪𝘭𝘪𝘻𝘦 𝘧𝘪𝘯𝘢𝘯𝘤𝘦𝘴. 𝐑𝐞𝐯𝐢𝐬𝐞 𝐢𝐧𝐯𝐞𝐧𝐭𝐨𝐫𝐲 𝐦𝐚𝐧𝐚𝐠𝐞𝐦𝐞𝐧𝐭. Reduces holding costs. • Analyze inventory turnover • Adjust stock levels • Liquidate old stock 𝘌𝘧𝘧𝘪𝘤𝘪𝘦𝘯𝘵 𝘪𝘯𝘷𝘦𝘯𝘵𝘰𝘳𝘺 𝘮𝘰𝘷𝘦𝘴 𝘤𝘢𝘴𝘩, 𝘯𝘰𝘵 𝘫𝘶𝘴𝘵 𝘱𝘳𝘰𝘥𝘶𝘤𝘵𝘴. Implementing these strategies provides better control of your cash flow, making your business more attractive and financially stable for potential buyers. Which of these will you try? #TheCapitalistsCorner

First things first --> price is never just one particular number. ✅ Most businesses don’t really feel the difference and impact of the correlation between the list and net prices. However, even the slightest strategic move can become a huge advantage in front of competitors.✍🏻 Check the concept Net Price vs List Price from here 🔥 https://lnkd.in/ev6cFiS #businesstips #profitablestrategy #pricing #netprice

Why Reviewing Your Merchant Statement Matters. Your merchant statement holds the key to understanding the true cost of accepting payments. Many businesses overlook hidden fees or rising rates that can eat into profit margins. Make it a habit to review your statement monthly—you might be surprised at the savings potential.

Looking for a better card to manage your business purchases? How about getting cash back for every single swipe? 💳 Introducing our Business Cash Back Credit Card, a new way to pay (and get rewarded while you're at it). Learn more ➡️ https://bit.ly/4bed5xT *Earn 2 points for every $1 spent on purchases. Points may be redeemed for cash back equal to 2.00%. Cash Advances and Balance Transfers do not earn points.

Terms and conditions you need to follow As a person running the business, the payment terms and conditions are important to address They refer to the conditions under which the business is willing to sell the goods or services on credit ( amount due, due date for late payments and penalties if any ) Why you should go for establishing terms and conditions? - Maintains cash flow as the business receives payment continuously - Minimizing the risk of bad debts They check the creditworthiness of the customer - Improves customer relations likely to reduce disputes as the payment conditions are explained What conditions to go for? - Payment due date - Early payment incentives ( discount ) - Late payment penalty - Method of payment ( cash, credit card, EFT ...) These are the common terms and conditions to go for. 🔔 Follow ( Aswathi Pradeep ) for more such content! ♻️ Repost to help businesses grow P.S. Are there any other conditions that need to be mentioned?

How to create a pricing strategy that works for you: Pricing your offer in order to be competitive AND to make a profit can be hard. You must remember one thing: Your pricing strategy is totally dependent on what the customer is willing to pay. So, you must establish your price floor and price ceiling. Price floor: the cost of producing (Any lower than this and there's no point in selling it) Price ceiling: the top end of the value to the customer (Any higher than this, they simply won't buy from you) The happy space in the middle? This is the range where pricing is acceptable to your customer and doesn't deliver a loss to your business. Once you’ve identified this, here are three of your pricing options (there are of course, more) 1) Value based pricing (my favourite) How much value can you convince your customer there is in your product/service? Can you educate them to understand why what you do is different? Can you deliver as promised? Then you get to set your own price! 2) Cost plus pricing How much margin do you want to make? Tag this onto your cost price. 3) Competitive pricing Basically, pricing within the generally accepted range in the market. You have 3 options: 1. Co-operative pricing ↳ Pricing at the same level as everyone else 2. Aggressive pricing ↳ You try to attract a larger number of customers by charging less than your competition. ↳ This can work with very high volume sales. 3. Dismissive pricing ↳ If you lead your market, have a strong brand and a premium product, you may simply dismiss your competition and charge whatever you like. ↳ Here, you must keep proving your value and understand your customer. There are many different options, but it’s important to choose the right one for YOUR business. Speak to someone in finance if you have any doubts. Are there any areas you’d like me to cover more in depth?

When selling a business, the transaction isn’t simply a matter of finding the right buyer and agreeing on a price. In reality, every business sells twice: once to the buyer and once to the buyer’s bank. Read our full blog here: https://lnkd.in/gEQZhfmm For more free tools, resources and insights, visit us now! https://lnkd.in/gem496yp #canada #marketing #business #digitalmarketing #nitinbusinessbuilder