How to Grow Your Business With Bartercard

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Learning how to grow your business isn’t just a worthy goal; growing your business is often a necessity for your business’s survival and your economic wellbeing. So, what can you do to get your business beyond the bare sustenance level? And what can you do to turn it into the income-generating powerhouse you envision? Bartercard have the answers.

As a small business owner, you may be looking for ways to do things smarter and more efficiently. You may be aware of how valuable it would be if you were able to turn your unutilised trading capacity and surplus inventory, into business opportunities. This would be a step towards increased sales, improved cash flow, and retaining clients – always an attractive outcome as a business owner.

Bartercard is both a payment alternative and sales network, so being a Bartercard member can not only help you improve your cashflow, but also grow your business. Bartercard is a currency just like a credit card or another bank account, but instead of cash, it is an electronic currency which can be transacted via EFTPOS, online, the Bartercard app, over the phone, or by transaction vouchers. So with Bartercard, you can conserve cash while always having access to goods and services available through the Bartercard network.

Bartercard’s large referral network allows members to increase their customer base and expand their geographic reach, and the new customers generated by Bartercard are on top of existing cash business, and therefore don’t interfere with existing business models.

The key to sales success is referrals and word-of-mouth marketing. Bartercard members are more likely to spend with other members, providing an increased advantage over competitors. In the guide How to use Bartercard to grow your business they explain the way you can easily implement Bartercard into your business, how you spend your Bartercard Trade Dollars, and provides tips on how you and your clients can get the most out of Bartercard, so for more information on how to increase profits, business growth strategies and increase business profits please go to www.bartercard.co.nz .

Bartercard Examine Hospitality Trends

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This month Bartercard have some industry tips to keep you thinking outside the walls of your establishment, and ultimately, to increase your cash flow, and the first is the matter of direct bookings. While operators want to maximise direct bookings to lower costs, they equally don’t want to burn bridges with platforms like Booking.com or Expedia which bring continual business. Hotels and resorts are doing more to proactively attract direct bookings in 2019 so expect to see more direct marketing, online tactics and special rates rewarding travellers who book direct.

Another trend is the use of more user-generated content. The industry will continue to collaborate with influencers in 2019 to stay at the forefront, but you don’t have to be a global brand to appear in social feeds.  User-generated content is unpaid, and posted by followers who love the brand and want to talk about it.  According to tintup.com, 86% of millennials consider referrals a good indicator of brand quality and a great brand across the board underpins user generated content.

The upside for visitors who can instantly post about brands in a digital age is a higher benchmark of service, Instagram-able spaces and more creativity.  Room gadgets like nail dryers, rewards for eco-conscious guests and smart cars for shopping trips (cutting out car rental) are a few ideas at future-focused hotels, leading to enhanced experiences.

Smart-room technology is trending, and many are already using mobile keys, text messages instead of calls to reception, and customised temperature, lighting and toiletries to enhance the guest experience and stay ahead of the curve. Personalised entertainment via guests’ Netflix and Amazon accounts is letting them watch what they want, when, which allows hotels to create a more comfortable and cosy stay.

The final trend this month is to create a home away from home. Hotels are creating familiarity in more places in than just entertainment, transforming lobbies into expanded living rooms and adding a longer list of features like exercises, massages, cooking classes, dry cleaning and deliveries.  With more services at guests’ disposal, hotels are turning eco-friendlier too; embracing local over imported ingredients, furniture and art.

Bartercard recommend you use their services to boost your hospitality business.

In a fast-evolving market, Bartercard is a flexible business solution to attract customers, fill empty rooms and increase cash flow.  Thousands of members in the hospitality space use Bartercard every day to take cash out of the picture and supplement business, so for more information on customer loyalty reward programmes, profit increase and increasing business profit please go to www.bartercard.co.nz .

Improving Productivity & Effectiveness With Bartercard

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When it comes to productivity and effectiveness, there has been no tool more enduring than the humble ‘to do’ list. However, these days, we find that our lists are growing faster and faster, so if you’re finding your ‘to do’ list continues to grow rather than shrinking, take note of these tips to help you get organised.

Be clear and stay focused on your vision, strategy, goals, plan and priorities; take control; delegate and outsource; understand where you are wasting your time; don’t get distracted or allow interruptions; decide the best time of day for your different activities, AND limit your ‘to do’ list!

A great first step is organising a hierarchy for your ‘to do’ list, from high priority tasks through to the less urgent. The first step is identifying your ‘must do’ tasks, e.g. meetings and appointments, as well as other urgent work. Taking these prioritised tasks and including a deadline on your list can help you action the work. Organising a hierarchy for your tasks and giving them deadlines gives you a great idea of how to best utilise your time.

So, what do you need to be asking yourself when it comes to ordering your tasks according to priority?

How important is it?

How long is it likely to take to complete?

What are the consequences of not completing it now?

Are there any special tools or information I need before I can complete this task?

Once you’ve answered these questions, you can decide which jobs to tackle first and prioritise your tasks effectively.

Outsourcing is an efficient way of handing over admin tasks to someone else.  If they don’t require your expertise and you have too much to do, consider outsourcing and delegating your tasks as much as possible to relieve some of the strain. This works the other way – be open to people delegating and outsourcing tasks to you. We work well when we work cooperatively.

You can’t plan for every eventuality so it is important to leave a window in your diary for unplanned things – answering emails, unexpected phone calls, last minute tasks. If you leave 10 minutes of every hour to these unexpected delays, you’ll be adequately prepped if anything comes up. And if nothing does, you’ve just found yourself 10 minutes when you can re-align yourself with the work at hand, and get kickstarted on the next job, so for more information on increasing profit, increased sales and selling old stock please go to www.bartercard.co.nz .

Let Bartercard Help Grow Your Business in 2019

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The new year is a good time to start making plans to kick start your business, and Bartercard is there to help with some great ideas, starting with getting up to speed with your social media. As they say, social media isn’t going away. If you don’t take the time to start utilising this global online freight train of a marketing tool for your business, you’ll be left behind.

A social media marketing professional can assess how your business is (or isn’t) performing and create a strategy to bring you up to speed while seriously cutting down on your advertising costs. You also need to outsource what you can. Outsourcing is the contracting out of jobs, tasks, operations or processes to an external workforce for a defined period of time.

The question to ask is “What are we currently doing that could be done more efficiently and at a reduced cost if we hired someone else to do it?” IT services, marketing, HR, payroll, mailing, delivery are just a few of the areas of your business that could benefit from outsourcing.

Similarly, if you’re not using an online task management board such as Trello, Asana or Monday you may be missing out on some huge benefits. Increased productivity and team engagement, streamlined processed and less meetings are all great reasons to get ‘on board!’

You should also look at meeting without leaving the office, and online platforms such as Zoom, BlueJeans or GoToMeeting offer an easy and reliable way to run video and audio conferencing, have a business chat and host live webinars.
Video conferencing offers the convenience of never having to leave your office, allowing teams, colleagues and clients to log in from their desktop or even their phone.

Finally, set aside that time to work ‘on’ your business. This is an ‘oldie’ but it’s such a ‘goodie’ that it’s worth taking it into the year ahead  with you.

For more digital essential tips, download Bartercard’s FREE Digital Essentials eBook.

Bartercard is the world’s largest cashless business networking platform. It is designed specifically to expand your business and your profits. As a member you have access to an online marketplace where you can barter your products and services with other companies both nationally and internationally. They connect you with potential customers specifically looking for your product or service, and they help expand your business using cash-less trading, to keep more cash in your business, so for more information on customer rewards programmes, increasing customer retention, customer acquistion strategies and customer loyalty reward programmes please go to www.bartercard.co.nz

Staying Afloat Over the Holiday Period With Bartercard

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For small business owners in particular, maintaining a decent cash flow at this time of the year is fundamental to staying afloat, and so keeping on top of your cash flow has to be a top priority. Bartercard knows small businesses inside out, and in this article they share some tips on how you can maximise the cash flow in your SME.

To begin with, get in the habit of preparing and sending invoices straightaway. What’s more, send them by email and that way they will get to the relevant person immediately. And while you’re at it make it easy for the customer to pay the invoice by providing your online banking details. Similarly, you need to make it clear to customers what your payment terms are; a reasonable timeframe for the average small business could be 14 days.

Technology, especially cloud-based accounting, has made it much easier to manage cash flow, and investing in reliable accounting software will be a great time saver and will allow you to focus your energies on other important tasks.

Focus on cash flow not profits. If your cash flow is in order, then it is a follow-on effect that your profit will also be in order.

You should also consider introducing incentives or fixed rate payment packages.

If late payers are a big problem in your business, then another way to keep cash flowing is to introduce incentives for customers to pay on time. You could perhaps offer a deduction off the total for full payment or a week free – whatever makes sense in your business. Alternatively, you could offer fixed rate payment packages, so, if a client pays for a whole year’s worth of services or product upfront, they get one month free. This way you’ll be getting paid in advance rather than in arrears, and the extra cash can help you explore opportunities and grow your business more easily.

Bartercard is a valuable way to conserve cash flow by sourcing products and services without opening your wallet. Use your trade dollars instead of cash to pay for services like bookkeeping and accounting, setting up your e-commerce store, printing, advertising, website, graphic design and SEO. Source products like office equipment and supplies, furniture, collateral and even wine to serve in your restaurant or gift to clients. At Bartercard there are endless ways to conserve the cash flow essential in business.

Members can visit mybc.bartercard.com to start shopping or speak to your trade broker. If you are new to Bartercard you can enquire to see how you can boost cash flow in business, every day. Effective cash flow management is critical to the success of your enterprise. Give your business the best possible chance by using these tips and keeping on top of cash flow, and for more information on selling inventory, profit increase and getting more customers please go to www.bartercard.co.nz .

Bartercard’s Tips to Keep Up Your Cash Flow Over the Holidays

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For small business owners in particular, maintaining a decent cash flow is fundamental to staying afloat, particularly during the quieter periods such as the Christmas holidays. It’s a simple equation really: no cash = no business, and so keeping on top of your cash flow has to be a top priority. Bartercard knows small businesses inside out, and in this article they share some tips on how you can maximise the cash flow in your SME.

First up, you need to invoice quickly. It should come as no surprise that if you don’t send through your invoice until two weeks after you’ve completed the work, that payment isn’t forthcoming until another two weeks at least. Get in the habit of preparing and sending invoices straightaway. What’s more, send them by email and that way they will get to the relevant person immediately. And while you’re at it make it easy for the customer to pay the invoice by providing your online banking details.

Secondly, make it clear to customers what your payment terms are. A reasonable timeframe for the average small business could be 14 days. Whatever terms you plump for, set clear expectations for your clients. You should also invest in reliable accounting software, it will be a great time saver and will allow you to focus your energies on other important tasks.

Thirdly, you need to focus on cash flow not profits. If your cash flow is in order, then it is a follow on effect that your profit will also be in order. You should also consider introducing incentives or fixed rate payment packages, and, of course, use Bartercard.

Bartercard is a valuable way to conserve cash flow by sourcing products and services without opening your wallet, using your trade dollars instead of cash to pay for services like bookkeeping and accounting, setting up your e-commerce store, printing, advertising, website, graphic design and SEO. At Bartercard there are endless ways to conserve the cash flow essential in business.

Effective cash flow management is critical to the success of your enterprise, so give your business the best possible chance by using these tips and keeping on top of cash flow, and for more information on how to increase profits, retaining customers and customer retention techniques please go to www.bartercard.co.nz .

Start Planning For the Year Ahead With Bartercard

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It is always a good idea to take some time out, before the end of the year, to start planning for the year ahead, reminding us of the superior results we can achieve by deliberately taking time out to plan – before we begin a task. It all starts with a planning session.

Preparing for what is to come is important. We need to distinguish between what is urgent and what feels urgent which will enable us to determine the tasks we need to focus our attention on first. We need to begin by creating a plan of attack, breaking down any complex tasks into specific actions.

We should also break down the goals into specific, smaller actions that begin with a verb (ACTION word) to make it very clear what our intentions are. This goal becomes more focused by listing the required actions what are our growth straegies, plans and goals?

Research has indicated that being specific about goals and the tasks required, increases successful outcomes. Also having the required steps mapped out in advance reduces the need for additional thinking as the year progresses, and lessens the likelihood of procrastination.

Bartercard’s simple-to-use system means business owners can spend less time on things like their accounting and more time focusing on business growth strategies, and how they can work with your accounting system, and how it can benefit you and your business.

What makes Bartercard’s system so simple to use is that, in addition to integrating with a member’s current financial system, there are a number of other aspects of Bartercard that make its accounting processes simple to use.

Bartercard understand what matters most to business owners – increasing cash flow, and growing your business. All you need to do is set up Bartercard as another bank account in your system, allowing you to focus on what is more important in your business, so for more information on how to increase profits, getting new customers and customer rewards programmes please go to www.bartercard.co.nz .

To help people manage their business more effectively, the Bartercard team have created a free resource which can be downloaded on their website. You’ll gain valuable insights into the habits the most successful business owners have in common. The 7 Habits of Highly Effective Small Business Owners eBook covers learning how to roll with the punches, exploring the art of long and short-term plans, monitoring cash flow and spending, working with the pros vs. DIY opportunities, embracing technology and being open to change.

Bartercard Talk About Remuneration: Using Trade as an Incentive

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We know competition is fierce when it comes to recruiting the right individuals – there’s so much to consider. However, according to Forbes Magazine’s, Alan Hall, there are some basic rules to follow, including ensuring competency, and measuring capability and creativity. To hire an exceptional employee, ensure that they can demonstrate from experience, that they can come up with creative and innovative ways in which to increase productivity or problem-solving in a particular area.

You also need to ensure that they are compatible with you, the job and other staff, and calling past employers is a good way of finding out about team functioning. Similarly, you need to know that they are committed to you and your success. Team culture is important, being sure they fit in from the start.
It is also important to compensate staff according to award conditions and rates, as dissatisfied employees can adversely affect the mood of your business.

However, what also needs to be considered is how employers reward their teams and the impact on payroll. How do you incentivise employees, both new and loyal, to keep them motivated? For most businesses, retention of good staff members is important but finding ways to reward staff that go the extra mile for the business, without increasing wages or salaries can be tricky (and anything that goes through the payroll will incur PAYE).

Bartercard is a great tool to reward, provide incentives and support wage levels, and with the intelligent use of Bartercard, you have an incredible tool with which to select, maintain, up-skill and retain staff.

Take a small manufacturing company who wants to reward their top sales person with an incentive, but budgets are tight. Working with the Bartercard trade exchange the business can gift that staff member by purchasing a reward (such as a dinner out) through the Bartercard network using accumulated Trade Dollars. The business preserves their cash, while saying thank you to that employee, and better still gifts under $300/per employee, per quarter are exempt from tax under Fringe Benefit rules.

Bartercard’s eBook How to use Bartercard to grow your business offers helpful advice on how to use Bartercard to incentivise and reward your staff so you can ensure you make sure your employees are the secret to your long-term success.

For more information on increasing profits, excess stock and getting new customers please go to www.bartercard.co.nz.

Bartercard eBook Will Help With Your Digital Marketing

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Bartercard have launched a new eBook, a free resource to help you with your digital marketing so you can continue attracting new customers and growing your market share while evolving your skills as a business leader. Today’s digital world is transacting 24/7, so your business should be working accordingly.

In a time when customers can purchase almost anything online, make sure your brand is working for your business and bringing customers in directly through inbound marketing, as you shouldn’t just rely on standard advertising methods. According to adweek.com, 81% of consumers will research a brand before they to commit to a purchase, so make sure your brand is ranking high in the searches.

Bartercard’s 2018 Digital Business Essentials will provide you with the steps you need to consider when it comes to inbound marketing, and before you launch into full strategy mode, make sure you have the basics in place to help define your longer-term marketing strategy. You need to consider who your customers are and what solutions they require.

Once you have the basics established, you can consider the following digital essentials, including Search Engine Optimisation, Social Media Marketing and Digital Advertising. Search engines will rank websites based on what they consider most relevant to users.  Make sure your website it easy to use and navigate around and has attractive and relevant content, and consider keyword research, provide regular content updates and back links and perhaps most important of all, make sure your website is mobile friendly.

Social media provides a platform for you to create a following, build your brand and increase sales, so if you’ve not yet launched onto Facebook, Instagram, LinkedIn or Twitter, now is the time.  However, it’s not an easy undertaking and it can be time-consuming. Bartercard’s eBook, 2018 Digital Business Essentials will provide you with some of the key marketing essentials you need to know to help you increase your online exposure.

With digital advertising, it’s not all about content!  You can stay ahead and stand out from the crowd by increasing your brand’s exposure through targeting specific audiences via the likes of Google AdWords.  Bartercard’s eBook will guide you through the steps to building successful AdWords campaigns.

Retargeting allows ads to be put in front of individuals who’ve interacted with your brand – whether it’s clicking an ad, visiting your website or opening an email from you, so for more information on selling old stock, excess stock and increasing profits please go to www.bartercard.co.nz .

Bartercard Discuss The Real Cost of Discounting

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With such fierce competition and all consumers looking to bag a bargain, it’s no wonder we turn to discount websites such as GrabOne, TreatMe and Groupon for offers. Why wouldn’t you? But as a merchant and small business owner, have you worked out the real cost of discounting and the impact it has on your business? Daily deal websites charge a fee of approximately 15-20% of the sale price and stipulate that the offer presented must be at least 50% off the original sale price.

It’s easy to think by offering a discount you’ll attract new customers and they’ll leave happy because they haven’t paid full price, but discounts cost money, and not just to your bottom line. So, by reducing your price by just 10% on a margin of 40%, your sales have to increase by 33% in order to make the same profit.

That’s a big ask in a competitive market, especially when you add a fee onto that.

Discounting can also have an impact on your brand reputation as highlighted in an article, when an Auckland pizzeria refused to accept a customer’s GrabOne voucher. All these aspects impact your bottom line.

Bartercard is not a discount service, and while there are fees associated with being a member of the network, it’s a mere 7.5% in comparison. Bartercard allows members to grow sales by 10% or more within the first 12 months of becoming a member and they can prove it – no discounts are required!

So, do your sums. Does it add up to offer discounts both from a profit and customer perspective? Ask yourself this – are your customers loyal or are they just hunting for the next deal? As a merchant, are you wanting more customers or have excess capacity you want to utilise? Bartercard suggest you download their eBook Eight ways to attract new customers which shows you how you can implement new techniques to increase your market share, gain competitive advantage and achieve financial success, so for more information on increasing sales, increasing profits and increased profits please go to www.bartercard.co.nz .