Webinar: 5 Steps to Building a Strong Business Credit

This webinar goes further in depth into the importance of building a strong business credit which would be very helpful. Its worth taking time to listen to and taking some notes about business credit and establishing a strong business credit.

https://www.youtube.com/watch?v=Nzu1rhbVgQE

5 Steps to Build a Strong Business Credit Profile

1. Determine whether you do or do not have a business credit file. As soon as you start a business you should apply for a D-U-N-S number which is a unique identification number for you businesses that will help in starting the process of creating a business credit file.

2. Establish a business credit history.  Small businesses use their personal credit and finances to get their business going. Establish credit history by putting expenses under the business name. Phone lines, bank account and any other bills established by the business.

3. Pay bills on time and understand that other factors will influence your credit rating. To improve your credit score and build a strong positive business credit all bills must be paid on time. Don’t over extend your business; your payment behavior is an important factor on credit. Keep in mind that there are other factors that credit history, credit rating, industry, revenue, and number of employees is also some factors that influence credit rating.

4. Monitor your business credit file and keep it up to date. Monitoring your business credit file will allow you to be aware of any changes in your rating before it affects your relationships with customers, suppliers, and financial institutions. Keep it current and accurate to reflect all changes in location, employees, revenue, or any changes to the company.

5. Managing your small business credit will secure that you can get financing when it is needed, you can get your supplies at affordable terms, protect yourself from identity theft. 15-30% of commercial credit loss is from fraudulent activity and it is important that your credit reflects accurate information.

By understanding and managing your business credit you can save yourself some money when working with customers for products needed to keep your company working. It can also give you that freedom to go to the bank and acquire fund if needed. These are great tips provided by SBA.

https://www.sba.gov/managing-business/running-business/managing-business-finances-accounting/managing-your-business-credit

Ways To Increase Customers For Your Small Business

 In order to increase customers, you need to actively do something. Promoting your business, providing quality customer service to get recommendations, or being creative to stand out among competitors are all active ways to increase traffic. Here are some ways to increase customers in your business.

Mailing lists & seminars.
Seminars can help educate the public and hopefully attract more clients. This involves purchasing mailing lists, using third parties to send out invitations, and collecting all the potential client data. This data allows you to stay in touch with those clients and convert them into paying customers.

Organic search.
By optimizing your website for search engines and blogging to direct more traffic to your website, you are able to increase lead numbers and the increase customer conversions.

Good old fashioned word of mouth.
After establishing a respectable client base, leverage these to build new ones and increase customers. When you provide excellent customer service and are amazing at what you do, people tell all their friends, helping you to increase customers.

Cold calling.
The personal touch of speaking to a live person over the phone can make a huge difference. This can make you stand out against your competition (Who likely uses emails as opposed to live communication)

Social media
If you're working on a limited budget, social media is a great way to increase customer service at a minimal cost. You just need to invest time to create and share valuable content with your target audience.

https://www.marketcircle.com/blog/5-ways-to-increase-customers-for-your-small-business/

Step by Step guide to Social Media for Small Business

Step by Step guide to Social Media for Small Business
http://www.vistaprint.com/digital/marketing/social-media-ticket-to-business-growth/?couponAutoload=1&GP=10%2f11%2f2016+5%3a30%3a40+PM&GPS=4110157458&GNF=0

How Important Is Social Media For Your Company?

http://www.investopedia.com/articles/personal-finance/020915/how-important-social-media-your-company.asp

Market your Small Business through Twitter

This article shows examples of the best ways to market your small business through Twitter.
 http://www.socialmediaexaminer.com/how-to-use-twitter-for-business-and-marketing/?utm_source=SMEPage&utm_medium=SumoMe&utm_campaign=twitter

6 Ways To Increase Sales On A Tight Budget

There are always ways to increase your sales and grow your business even while working on a tight budget.

Talk to your current customers
It's easier to sell to a client that is already familiar with your work and product/service quality. If they trust you then they are willing their current challenges with you. You can take this information and address it by offering new products. This allows you to be a good partner while increasing revenue.

Bundle your products and services
Customers equate a bundle of services with savings. If possible, provide flexibility in the bundles, so the services within the bundle can suit multiple needs.

Ask for referrals
If a client is satisfied with your products, ask them for names/contact info of other small business owners that can benefit from working with you.

Have a limited-time sale or promotion
Offering a slight discount makes products and services more attractive to a client. Be sure to clearly specify the sales start and sales end dates so there's no confusion if the client decides to keep working with you after the promotion ends.

Listen
Listening to potential customers is the best way to understand their needs. Actively listen and ask leading questions to get more info and be comfortable brainstorming solutions with clients.

Utilize social media
Use social media outlets like Facebook and Twitter to raise customer awareness and spark interest in your offerings. Also use it as an open line of communication, to spread interesting industry information, re tweet interesting articles, or post some behind the scenes photos or videos.

 http://quickbooks.intuit.com/r/selling/7-ways-to-boost-your-small-business-sales-on-a-tight-budget/