Ideas, information and insight on “all-things-business” from the financial experts at Capital Solutions Bancorp.

Turn clients into fans

3 Absolutely Easy Ways to Turn Clients into Awesome Fans

Are your customers satisfied with your company? Or are they very happy with your company? There is a difference here. Satisfied isn’t enough to hold on to them. They can easily switch if they notice problems with the product or service, or something better comes along.

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Schickard calculator customer math

How Much Is Your Valuable Client Actually Worth?

How much should you spend to get new customers? When a deal or promotion opportunity comes your way that brings in new clients and grow your business, how do you figure out whether the deal will pay off?

Your gut feeling may have come through for you in the past. You let it dictate how much is just right, too much, or too little. What you think costs too much may end up bringing in more customers and profit than you expect.

Without knowing a client’s lifelong value, it’ll be impossible to determine whether an acquisition cost is too high or too low.

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Image credit: The 621st Contingency Response Wing

Are You Flying Blind with Your Small Business?

Yes, the above is a picture of a cockpit in a plane.

Are you about to fly? If so, bookmark this page and return after you’ve safely landed.

On land now? No more flying? OK, read on.

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Lay payment notice

Are You Sure You Know What You Need to Know About Accounts Receivable?

“Cash is king.” No doubt every small business owner has heard that. That’s because a small business can’t survive without cash flow. All the great talent means zilch if you can’t pay them and your bills.

But what brings in the cash? Your accounts receivable, or A/R. Accounts receivable is an accounting term for what your clients owe you for the products or services you delivered. Your invoices are a generated accounts receivable. Until you submit your invoices to clients, you won’t get paid.

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Broken phone

How Do I Get a Client to Pay up?

This is a true story. Names have been changed to protect the innocent and the guilty.

A prospect contacted me interested in my company’s services. We discussed the project and came to agreement on the scope and price.

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Twitter for B2B Business

How to Build Your B2B Brand with Twitter in 7 Easy Steps

When I first heard about Twitter, I didn’t get its appeal. As I understood it, people could send short messages for others to read. That sounded like a public bulletin board. The Internet is full of special interest topic forums. People can send short messages to each other via emails, text messaging, online chat, and other ways.

So what’s the big deal about Twitter?

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MCA loans like mafia

How to Cure Your Addiction to Merchant Cash Advance

Have you heard of payday loans? You’d never consider such an option because it’d drain your resources, right? Merchant cash advance and business cash advances are like payday loans except they target businesses.

Thousands and thousands of business owners are stuck with MCA. To attract B2B companies, some MCA providers call it Business Cash Advance. An MCA may sound like a great idea, but it isn’t when you look at the full picture of how it works.

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Danger of having big customer

The Sure-Fire Danger of Having a Big Customer

When a colleague first started his little business, he had two clients. One provided steady projects. The set up worked well since he could manage these projects outside of his corporate job. Yes, he worked two full-time jobs between the corporate one and his business. We’ll call him Joe. He wanted to build cash flow before quitting his corporate job.

Then the company — the steady one — went out of business. As for the other client … projects didn’t come in regularly enough to sustain business. Joe had to decide whether to resign to a life-long corporate career and keep the business as grocery money … or find more clients.

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financing back office support

5 Ways This Is Better Than a Bank Loan or Line of Credit

Before you consider going to a bank for a small business loan or line of credit, you might want to explore another option. A better one because it’s money that already belongs to you. The money you get from the flexible financing is invoice financing, which gives you the cash flow you need to pay expenses and grow your business. It’s also known as factoring and accounts receivables financing.

Accounts receivables are open invoices that haven’t been paid. It’s money a company is owed after delivering the product or service. Clients may take 30, 60, 90, or more days to pay the invoice. Some companies speed this process with flexible financing from a factor. The factor — a third party company — buys your invoices and gives you cash as soon as you submit them.

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Balance cash flow

14 Ways to Ensure You Always Have Cash Flow

A colleague told me about a long-time client and friend who passed away. The business went with him. It happens. That’s life. While his business made up about a third of hers, she weathered the loss of income because she had enough cash stashed away to cover her while she looked for new clients.

Another colleague texted me to let me know that her computer had died. Fortunately, she was able to buy a new computer the same day and restore her backed up files to the new computer.

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