Can you relate to the following statement a client once shared with us: ‘Getting working capital financing for my orders and contracts actually is harder than getting the order itself?’Your firm has the order and contract, now you just need to fulfill it to complete the job and get paid of course. It is the working capital and cash flow that come out of those contracts and orders that will of course help you grow sales and profits.So how does purchase order financing and P.O. Factoring work in Canada? And is it actually available?! The answer to those two questions follows.Purchase order financing or factoring provides you with capital for the key elements of your business, i.e. Product purchases, payroll, and working capital to carry receivables. Most clients we meet in the purchase order finance area have what can only be describe as the best and worst of problems – that is to say they have the order, they just don’t have access to the capital to complete the order or project. You also don’t want to strain your relationship with key suppliers, while at the same time you strive to deliver your product or service on an ‘on time ‘basis. Naturally your ability to accept larger orders enhances your overall competitiveness within your industry, and larger orders usually translate (hopefully!) into larger profits.Canadian business owners and financial managers consider purchase order financing and the factoring of their purchase orders, but at the same time they don’t want to take on additional debt, or give up ownership of their business to an investor / partner.So how does this type of financing work in the day to day real world. You have a P.O. and contract from a legitimate credit worthy company – More often than not some of these clients can actually be outside of Canada – we see that all the time. The purchase order finance firm provides you with the minimum amount of capital you need to complete the orders. Many times this simply involves making payments to your supplies on your behalf.Therefore the benefits of this type of Canadian business financing are very clear – your company can complete orders/contracts it might otherwise have been forced not to accept – no business owner hates to turn down business. You can often also leapfrog a competitor of similar size to yours by simply the ability to finance orders the competition might not be able to.You could enter into long term working capital or cash flow loans, but these typically involve payments that are fixed over 3-5 years. Although purchase order financing is generally quite a bit more expensive than bank financing it allows you to do short term financing without taking on additional debt on your balance sheet.In some cases the PO finance or P O Factoring firm could be asked to issue a letter or credit to a supplier on your behalf – that is also a common p.o financing and factoring strategy that achieves similar objectives.Speak to a trusted, credible and experienced business financing advisor who can provide you with information on how PO financing and factoring works, how you access it, and who can also assist you in determining if the cost of the financing meets your business and financial objectives.
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A Guide to Help You Pick the Best Air Purifier for Your Loved Ones
Holidays are around the corner. This is the time of year when people start purchasing gifts for their loved ones. If you are going to purchase an air purifier for someone you love, we have some helpful tips for you. If you want to purchase the best unit, you may be able to use this guide to your advantage. Read on to find out more.
1: Set Your Budget
Just like anything you purchase, make sure you have set your budget first. The price of the unit will vary based on a lot of factors, such as the capacity, filter type, features, and brand of the unit. If you don’t have a flexible budget, we suggest that you go for a product that is available to purchase for less than $300.
2: Consider the Needs of the Recipient
Your next move is to consider the needs of your recipient. If you are going to purchase this unit for everyday use, we suggest that you go for a unit that comes with a HEPA filter. On the other hand, if your loved one has a specific need, we suggest that you consider a specialized unit.
For example, if they are more prone to respiratory issues, such as allergies and infections, we suggest that you get a UV purifier for them. The devices are designed to neutralize viruses and bacteria.
3: Think About the Available Space
Another primary factor is to consider the available space in the office or house of the recipient. For example, if they need a general-purpose unit for a small apartment, you may want to consider a filterless unit.
On the other hand, if they have plenty of free space, you may consider a bigger unit that features a higher airflow rating. These units are powerful enough to cover a large face.
4: Consider Extra Features
Lastly, we suggest that you consider additional features that they will just love. For example, some units come with an indicator that turns on when the filter needs to be replaced. This will allow the user to change the filter so that the device continues to work properly.
So, you may want to consider these features before you place your order. These features may not be important to you, but your friend may just be over the moon.
Long story short, we suggest that you consider these four tips if you are going to purchase a gift for your loved one on these holidays. Since the air is full of pollution during winter days, nothing can make a better gift than an air purifier. Therefore, you should consider these tips before looking for an online or physical store to make your purchase decision.
Tips And Tricks For Generating Great Leads
Does lead generation make you crazy to think about? Understand that no matter the strategy, patience is needed in gathering leads. The wait could be a long one if you don’t do things properly. The following article offers tips and suggestions on the best ways to generate new business leads.
Survey your current customers about where they typically congregate online. To generate quality leads, you need to understand where your audience hangs out. Once you know, get involved in that community any way you can. That may mean advertising or it may mean becoming a thought leader in the community.
Set time every week to follow up with potential leads. It usually takes more than one touch point to turn a potential qualified lead into a real hot lead. SO after you’ve made first contact, set time a week or two later to touch base again. It’s about frequency here to make this person into a customer.
See if you can sponsor local events in any way. Maybe you can buy uniforms for a Little League team, or have a banner at a church garage sale. If so, be sure to show up at the event yourself so you can shake hands and get face time with potential leads.
One thing you must do is to start and grow your “opt in” process for generating leads. You need a marketing newsletter or email marketing or mobile marketing plan for this. You can ask them to opt in on your website, through forums you’ve joined, blogs and in other places.
Target people seeing freebies as part of your list generating efforts. While giving things away doesn’t usually make money right away for you, there will be plenty of people ready and willing to sign-up for the free stuff. Keep this list separate from your others, but include it in all your future campaigns.
Make time for lead generation every single day. Even half an hour daily can be very effective. Like most things, it’s building the habits that’s the most important aspect of successful lead generation. If you do it daily, you’ll find you become more effective at creating potential qualified customers.
Find out if any local publications available for free fit within your niche. For example, real estate agents can get into the local “New Homes” guides found in boxes around the city. If you are a dentist, you could get an ad in a free kids’ magazine which details local attractions.
Building content on your site sure does take time. If you get frustrated and forget to do this often, then nothing is going to really work for you. Keep up with posting new content, and interesting content is going to attract people. Always make sure you never put this strategy to the side.
See if your local area has effective lead groups. There are all kinds of business owners that will share leads with one another. While you may not know how a dentist could find you leads as a masseuse, you’ll be surprised! While this is going on the client may tell you they have a tooth problem and get the favor returned.
Ideally you feel motivated to use these suggestions. You’re probably dying to go out and get more leads. Though it may be challenging, your efforts will pay off in the long run.