Category Finance

My Client Is Always Late Paying Me

By in Finance, Human Resources Tag , , ,

... and three other tricky workplace dilemmas. BY ALISON GREEN for Inc. Here's a roundup of answers to four questions from readers. 1. My client is always late paying me One of my clients, a creative agency, has always had issues paying my invoices on time, but it's getting worse. Every single time I send an invoice, I have to go back and remind them to pay me. It's a great company, but I'm starting to get frustrated that I can't send an invoice without having to follow up repeatedly. Sometimes they say they missed the invoice, sometimes they apologize, but I eventually always get paid.…

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Relationship Now, Revenue Later

By in Finance, Revenue Tag , ,

by MATT BELL for MessageUp Hi there! Matt here, from MessageUp. I like to think that B2B sales are built on strong relationships. After all, the sales cycle is slow and usually involves many interactions between buyer and seller before a deal is consummated. Sadly, however, that’s idealized and naïve. Many B2B businesses are focused foremost on making the sale, with relationship-building a distant second. Making the quarterly and monthly numbers is more important than taking the time to understand and engage with customers. I can sense your eyeballs rolling. “Get off the soapbox, Matt,” you’re thinking. “That was true…

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Boost Your Small Business With These Must-Have AI Tools

By in Artificial Intelligence and Machine Learning, Business Management, Finance, Marketing, Operations

by Belle Wong for The Hartford In recent months, ChatGPT has shown the world how far artificial intelligence (AI) has come. But as AI developers and software companies release more and more AI tools on a near-daily basis, it can be challenging to know which tools are worth it for your small business. It’s worth digging deeper to learn more about the options available. By harnessing the power of AI, you can potentially compete with big businesses. Keep reading to learn more about the AI tools that can help take your business to the next level and beyond. 1. Chatbots Customers want…

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Cost of Acquisition (CAC) trap.

By in Business Management, Finance, Sales Tag , , , , , , ,

by ELENA VERNA for Elena's Growth Scoop Cost of Acquisition (CAC) trap. And why you should optimize payback period instead. ELENA VERNA MAY 12, 2023 32 3 Share So many acquisition-focused teams tirelessly chase after reducing Customer Acquisition Cost (CAC) or making it just one-third of the Customer's Lifetime Value (LTV). Yet, they often find themselves disappointed with lackluster results. Because in this "money doesn't grow on trees" economy, where every dollar counts, the real hero is the velocity of the payback period. ROI is back, baby. Where can CAC-reducing goals go wrong? Many acquisition teams are mandated to lower the…

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Modern Data Challenges: 4 Key Considerations in Financial Services

By in Finance Tag ,

by Precisely Editor @ precisely.com The financial services industry faces an array of challenges in adapting legacy technology to the rapidly evolving technology environment. Data analytics and other technologies have emerged as integral elements of most businesses. Until recently, organizations were forced to choose between the cost and disruption involved with migrating to greenfield systems versus missing the boat on cutting-edge technologies that add value for business users, customers, and shareholders. Over the past decade, however, speed, scale, and connectivity improved dramatically, opening the door to new approaches that enable companies to accelerate digital transformation while preserving their investments in…

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Should Your Small Business Accept Cryptocurrency in 2023?

By in Cryptocurrency, Finance Tag , , ,

By Andrew Mosteller @ business.org The rise of cryptocurrency has prompted businesses to take a deeper look into this intriguing financial technology. Many are realizing that cryptocurrencies are here to stay, with some experts theorizing it will be the future of the financial sector. With all this hype and the wild swings many cryptocurrencies have experienced this year, many small-business owners have been left wondering what to do to capitalize on this boundary-pushing technology. We’ll take a look at what some businesses are currently doing about cryptocurrency and then examine simple ways you can incorporate crypto into your business. Cryptocurrency Definition Cryptocurrency…

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