A business cycle is the natural rise and fall of economic growth over a period of time. The cycle is a useful tool for analysing the wider economy, as the upward and downward fluctuations show variations in production, employment, wages, and investment. Understanding the cycle allows you as a business owner to make better financial decisions with the goal of helping your business increase profit despite the downturns. Today we discuss the five main phases of a business cycle: expansion, peak, recession, trough, and recovery.
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Topics:
small business owner,
bartercard,
attract new customers,
business blog,
increase sales,
barter,
business needs,
trade dollars
Being a small business owner is an enormous task. Much of the operational responsibilities of your business rest on your own shoulders. With so much on your plate, it’s no wonder that business owners often fall into habits that may not always be healthy for their business.
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Topics:
small business owner,
bartercard,
strategy,
starting up your business,
small business,
business start-up,
save cash,
business needs,
trade dollars,
marketing
It’s not surprising to see a significant shift of practices when it comes to business networking. The world has adopted new ways to network that are no longer limited to face-to-face interactions. For a long time, business owners have attended meetings, events, and Trade Shows to expand their contact base. Today, thanks to fast-paced technology, online networking sites have become common in the realm of making business connections. You can connect with countless individuals in the click of a button. However, the question is, are these virtual connections as valuable as personal interactions? Could they even be more valuable? Read on to find out more about the difference between online networking and in-person networking, and how you can use both to your advantage.
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Topics:
small business,
attract new customers,
save cash,
build business networks,
business blog,
increase sales,
business needs,
networking,
trade dollars
The most basic way that businesses make a profit is to sell their goods and services. To do so first requires that businesses provide a good or service, then to market that product and make sales. However, there are two very different channels that businesses can sell through. Selling directly to consumers, or “business-to-consumer” (B2C) marketing, is an entirely different operation than selling directly to other businesses (“business-to-business”, or B2B).
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Topics:
build business networks,
increase sales,
business needs,
networking,
trade dollars,
marketing
Small-to-Medium Enterprises (SMEs) often lack the sheer size they need to compete with much larger, international firms. Doing business in an environment where you’re one of the smaller fish is difficult, which is why smaller businesses often align their objectives with other, similar businesses to create business networks. These networks let SMEs work together to accomplish larger objectives, which increases their competitiveness with bigger companies, and as such, they’re very important for the businesses involved.
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Topics:
build business networks,
barter,
business needs,
networking,
trade dollars
Business networking is an essential growth strategy to scale up your business and create a real impact on your bottom line. Finding a supportive network can help you find true value in your work, as you help your customers with your products and services, while making authentic connections.
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Topics:
small business,
attract new customers,
save cash,
build business networks,
increase sales,
networking,
trade dollars
When you first started your business, you had a plan. It may have been something roughly scratched out on an A4 sheet of paper, or a complex business plan you presented to your bank manager, or maybe something in between. Your business plan provided you with a mission, a path for your business to help keep things moving in a positive, forward direction.
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Topics:
starting up your business,
small business,
save cash,
build business networks,
business blog,
succession planning,
trade dollars
Understanding the financial health of your business can be an extremely overwhelming task to get your head around. Unless you have a passion for figures then it’s an area that can cause a lot of frustration and stress. You may have a handle on your profit and loss statement, but are you able to look deeper and really see how your business is going?
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Topics:
attract new customers,
save cash,
build business networks,
business blog,
increase sales,
trade dollars
As a small business owner, consistent, constant marketing plays a big part in making sure your audience knows you, what you offer and what makes you unique. It would be great to simply open the door to your business every day and wait for the customers to roll on in. In reality, we know that doesn’t happen without a LOT of effort.
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Topics:
increase profit,
small business,
market research,
attract new customers,
save cash,
build business networks,
content marketing,
unrealised potential,
increase sales,
business needs,
networking,
trade dollars
Bartercard’s cashless currency is becoming a popular choice for employers to incentivise their employees, rewarding additional bonuses and providing staff gifts. You might think Bartercard’s benefits can only be used to get more customers, but in fact they can also be used to incentivise performance within your talented team! Continue reading to learn why more and more New Zealand businesses are turning to Bartercard to supplement their workers’ compensation.
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Topics:
small business,
increase sales,
business needs,
rewarding staff,
trade dollars
