Emerging Business Opportunities - Are you Connected?

Posted by Gil Oliva on Fri, Mar 13, 2015 @ 08:00 AM

Every company strives for business success. Once it is clear that a recipe works, it is easy to settle into a routine that does not necessarily involve looking at new ways to do business. Is your company taking advantage of new technologies and opportunities? 

Business opportunities - staying connectedWorking with emerging technology – We live in a mobile world, and there are many innovative trends when it comes to payment options for example. Considering some of these new and simple opportunities, such as Apple Pay could encourage your customers to complete transactions sooner. Many of the newest retail payment systems have the potential to cut processing costs, and speed up processing time. It is, however, important to be aware of potential pitfalls when it comes to security. 

Embracing social media – It is all too easy to brush off the importance of social media and the ease with which opinions can be shared via the Internet. Is your company flexible when it comes to embracing the benefits and inherent pitfalls of social media? Rapidly responding to a problem or complaint in a positive way can be such a simple exercise and bring new customers to your door with the sort of speed you never thought possible. Similarly, firing off a defensive response to a disgruntled customer can be extremely damaging. Connecting via various social media platforms with other companies in your industry keeps you abreast of the competition and allows you to brainstorm new ways to be successful. 

Monitoring customer experience and increasing awareness – The speed with which you can connect with your customers using various inbound marketing techniques and generating simple but genuine and personal interactions via the Internet is astonishing. Reaching out to your community via community service activities and sharing events is a simple way to increase your company profile. It is important to remember not to be self-serving, and not to try to ‘sell’ your product or service in an obvious way. 

Encouraging employee interaction and satisfaction – Many businesses are adopting the concept of an open plan office, allowing their employees to interact with ease and discuss new ideas. Team building exercises and company outings also help generate a feeling of goodwill and accomplishment. Respect your team, and hire the best, not the most cost effective. Employee relationships built on mutual respect will encourage the best from your staff. 

When it comes to innovative financial help for your business, there are plenty of new and alternative financing opportunities. One alternative funding option is invoice factoring. Different forms of factoring have been around for centuries, but Bay View Funding offers accounts receivable financing using current technologies to communicate with their customers and provide quick and simple financing options. The focus on teamwork and business success has helped them grow and maintain a strong industry presence.

Take time to evaluate where your business is headed. Our world is rapidly shrinking thanks to the Internet, and it pays to be connected, listen to your customers, and keep your team happy.

Learn more about Accounts Receivable Financing

Topics: Alternative Financing, Financing Government Contractors, About Invoice Factoring

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