Sasha Talks Tech
startup stories, trends and digital lifestyle hacks
A business owner’s worst nightmare is to see the business they built from the ground up be taken from them by a larger corporation. It is their nightmare to see the business they have poured their heart into be taken over by a franchise. It is heartbreaking to see their business become one in a chain, rather than one on its own. Sometimes, however, a business ends up in a position which makes this fate an unavoidable one. Sometimes, for whatever reason, a business is drowning and the only way it can be saved is if it takes hold of the support offered by a chain company. And once a business takes this support it is a part of the chain company’s tide. If you don’t want your business to be swept up with this tide in the future you have to shore it up now. A few ways to do so can be found below.
First of all you need to focus your efforts on ensuring that your business is financially shored up. A business lives and dies by its finances and ultimately they are the defining factor in its survival. Specifically, a business’s cash flow is the defining factor as to whether it can survive or not. If its cash flow isn’t flowing in the right direction then a business is going to be going backwards, not forwards. It is going to be going towards being taken over by a chain corporation, rather than away from it. And if your cash flow needs steadying to help it flow the right way again then you shouldn't be afraid to ask for help. There are what are known as factoring payroll companies out there that will help ease your cashflow problems, the best of which can be found here: https://factoringdirectory.org/industry/payroll/.
And the outsourcing doesn’t stop with factoring companies and general financial matters. The best way to shore up a business is to have every single aspect of it reach its full potential. This may sound unrealistic, but it’s not if you outsource. By outsourcing jobs to external forces you give each job the opportunity to reach it’s potential simply because it means efforts can be spread easier. It means that you, or your employees, are not wasting all your efforts optimizing one single aspect. It means you can spread these efforts over a number of different areas. For instance, you want your business’s website to be up at all times, right? To make sure this is the case you may have taken to asking somebody to monitor it. But this isn’t a fruitful exercise as it then means that that person is being held back from partaking in other business related activities. In this case it would be more fruitful to outsource the job to a website monitoring service such as UptimeRobot rather than asking an employee to do it. This service would notify you via SMS if there were ever a problem with your site, meaning you could then take action to rectifying it when needs be.
They help businesses meet their payroll commitments by taking outstanding debts off their hands. For example, if you have a customer who is not paying up you can outsource their invoice to a payroll factor who will buy it off you. This means you get the money you need from the invoice to steady your cashflow. It means you get money you need desperately to pay a debt quickly. It means you don’t have to waste time and possibly even money having to chase the customer up. So it’s most definitely a viable option if your business is in the midst of financial fiasco. To take this option, however, you will have to get past any quarrels you have with asking for help. You have to learn to let go of some aspects of your business every now and again if you want to make a success of it. There is nothing wrong with outsourcing and asking for help with your business from external forces. It’s either allow others to help you whilst you still have a business, or allow others to take the business from you full stop. Which would you prefer?
TECH TALK BLOG
Startup stories, tech trends, and apps curated by Tech Blogger and Digital Lifestyle Host Sasha Horne.
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