As a small business owner, you're likely to be wearing many different hats and constantly trying to find ways to do things smarter and more efficiently. You need solutions that are convenient, simple to understand and enforce. So how do you keep across the day-to-day running of the business, and at the same time find ways to grow your business?
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. Here's how...
1. Interest free line of credit frees up cashflow
Bartercard is a digital currency and works just like a credit card or another bank account. Instead of using cash, your use trade dollars which can be transacted via EFTPOS, online, the Bartercard app, over the phone, or by transaction vouchers. So, it's easy to conserve cash while always having access to goods and services available through the Bartercard network.
Bartercard offers an interest-free line of credit so you can continue to make purchases even during quieter times when cashflow has slowed.
2. Get rid of excess stock and increase occupancy - without discounting
Bartercard helps you put inventory, equipment and employees to good use, converting downtime and spare capacity (such as businesses who experience seasonal markets) into new revenue which would not have been available otherwise. It also provides a system to put that excess to use in profitable ways.
Through Bartercard, members can sell excess or unwanted stock without the need to discount heavily, which can result in reducing perceived value and risking a potential price war with competitors.
3. Reach an entirely new customer base
Bartercard can increase business through the door by 5-15% and increase net cash profit. Its large referral network means you can promote your products and services to new potential customers - other members of the Bartercard network. The new customers generated by Bartercard are on top of your existing cash business, and therefore you don't need to worry about this business interfering with your existing (cash) business model.
And as you know, the key to sales success is referrals and word-of-mouth. Bartercard members are more likely to spend with other members, providing an increased advantage over competitors.
4. Build staff loyalty
The retention of good staff is vital in the performance and profitability of a business. But finding ways to reward staff that go the extra mile without increasing wages or salaries can be tricky. However, trade dollars are a great way to incentivise staff, use as employee bonuses or gifts.
