How To Get Your Business Finances
Organized This Summer
 Sometimes, a "deep cleaning" of your business can be an effective way to get things truly organized. This sort of initiative doesn't require any soap and water - instead, it's a financial deep cleaning that helps your company function more effectively. If you haven't sat down recently and analyzed your current fiscal situation and money "infrastructure", it may be time to look at it in greater detail. In business, money is power: taking control of your company's financial accounts can be a vital part of surviving (and thriving), in the retail world. Here are things to think about as you get started:
Look At Your Emergency Fund - If you were running on empty during the worst brunt of the recession, you may have scaled back your spending significantly. If you depleted certain emergency funds or savings to stay afloat, you should consider diverting any current profits to a new emergency account. It's always a great idea to have some wiggle room when things get hard. Keep your spending low, but also protect yourself by funneling money into a fund you can use when problems crop up. You don't need to pump a lot of money into this account - just be sure your deposits are slow and steady.
Monitor Your Expenses - Book an appointment with Accounting or your financial advisor - then, look at your numbers and compare them to last year's figures. If your expenses are climbing and eating into your profits, it may be time to streamline your processes and lower your monthly expenses. Reviewing costs frequently is really the key to staying on top of your budget. If you aren't trimming costs to get ahead, you're wasting valuable resources. Consider putting together a complete business plan you can use to refine your spending habits over the short term.
Look At Your Benefits - The benefits you provide to your staff can be costly - it may be time to review your benefit plans and look for better deals. While you will naturally want to be certain your staff is well taken care of, it may be possible to find similar benefits for a lower price. In today's recovering economy, many providers are more than willing to sit down and talk terms. Don't hesitate to review your benefit plan and shop around for other appealing providers.
Establish More Lines Of Credit - Without easy access to cash flow, you can run into serious problems. Use the lessons of the recession to plan ahead and ensure that your business has the liquidity it needs to survive in hard times. Establishing new lines of credit can be one solution - you may also want to explore creative ways of attracting new investors or garnering some new investment capital.
Adopt In-House Financing - Join with Crelogix to open up affordability at your power products business. Use the power of low monthly payment plans and affordable interest rates to attract new and returning customers. For many cautious consumers, in-house financing provides welcome term financing solutions that will help them to get the power products they really want. Our team handles all loan administration - all you need to do is use our online system to give customers instant answers about whether or not they qualify for consumer loans. Call us today to find out more - improve your business infrastructure to grab more market share...
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A Board Of Directors Can Help
Your Power Products Business
 Sometimes, a little innovation is required to push a business forward - however, old-fashioned, tried-and-true business techniques can also be very effective. For example, creating a board of directors can be a smart move for your company. If you don't already have a team of advisors who operate as a unit and plan out visionary goals for your company, you may want to seek out credible businesspeople who can offer special skills and talents. Some of the best candidates for a traditional board of directors include attorneys, accountants, possible investors, and marketing experts. Any board of directors you form should be composed of people with stellar reputations on a local and national level. These impressive people can act as a valuable sounding board for your business.
Also known as advisory boards, board of director groups can be of benefit to even the smallest businesses. However, your board of directors will probably expect compensation for their efforts - it's quite rare that someone agrees to help a business without getting something in return. Since you'll need to spend money creating a board, you must consider your overall budget and exactly what return you can expect to get from your financial investment. You must also carefully vet each member of the board, to be certain that they will be dedicated and willing to spend time attending meetings, going through correspondence and financial information, and otherwise contributing to the board and the business itself. Some members of board of directors will work for stock shares or other benefits.
If you do decide to create a board of directors, you will need to establish boundaries - some boards have lots of clout and the ability to make hard and fast decisions. Some small and medium-sized businesses benefit from this format, as the board tends to protect less-experienced business owners from making bad decisions. However, other boards are simply there to offer feedback on key issues, such as salary structures. management goals, and marketing. A corporation is generally required to have a board of directors - however, many people choose to work around this by using a board with only one member.
As you can see, there are myriad ways to set up a board that polishes your public image and gives you access to invaluable advice from industry experts. Whether or not you choose to put time and effort into developing a board of directors, it should be something you do consider carefully. If you're not ready to take the plunge, simply open a file and add in any key contacts you happen to meet. Keep collecting information on potential board members you might want to woo in the future. When you are prepared to create a board of directors for your company, you'll already have some excellent candidates in mind. In most cases, people will be flattered to be a part of your board of directors - they will also see it as an opportunity to earn some extra money and share their expertise. |
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Your Business Reputation Depends On
Your Company's Ethics
 Corporate integrity can make your company stand out from its competitors. Therefore, building a reputation as an ethical and aboveboard business entity is extremely important. Obviously, the way the public perceives your power products business will affect the success of your marketing campaigns, and it will absolutely impact your sales numbers. If you're wondering how to polish your reputation to improve your overall public image, you should know that there are plenty of practical ways to begin building an ethical reputation that you and your staff can be truly proud of:
Make Customer Service Priority One - Every customer service experience is part of your ethical reputation. If customers are treated fairly and with respect, your reputation will grow more positive over time. However, rude service, deceptive advertising, and even an abrupt telephone manner can all contribute to a tarnished reputation. Your ethics must be built brick by brick - every customer is part of the equation. The best way to appear ethical and trustworthy is by being ethical and trustworthy - this means respect for the client in every possible scenario.
Value Your Employees - Since your staff is out on the front lines selling products, working cash registers, and answering phones, they should be valued and nurtured. The best companies (ones with highly ethical reputations) spend plenty of time and energy making their employees feel recognized and important. If employees feel underpaid, overworked, and unappreciated, their sour attitudes will creep into every interaction they have with new and returning customers. Ethical companies value team-building - they pay fairly, treat all staff equally, and offer incentives to keep employees interested in excelling. These sorts of companies train staff to treat clients with care and respect - the end result of this is often great word-of-mouth advertising that contributes to an ethical reputation.
Ethics Start At The Top - As owner or manager, you are primarily responsible for setting the ethical tone of your business - in other words, the buck stops with you. Creating guidelines, rules and regulations on ethical conduct in the workplace can be a perfect starting point that leads to a better corporate reputation. This "top down" approach can even be reflected in your company mission statement. If your current advertising and marketing doesn't stress the honesty, integrity, and accountability of your business, make some changes and highlight these characteristics. You need to make your staff (and the general public) aware that your company is devoted to the very highest standards.
Community Involvement Is Key - Getting involved with the community can polish your ethical reputation very quickly. Working with worthwhile, registered charities, such as those that raise funds for sick children, can be a good way to garner more goodwill as you help others. Many charity balls, fundraising drives and silent auctions feature pamphlets and ads that showcase business sponsors. Becoming a corporate sponsor or volunteer can be a fulfilling way to build a positive public image. You will also meet many new and potential clients while attending charitable events. |
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About Us
 Since 1974, Crelogix (formerly known as Traveler's Acceptance Corporation) has provided its Canadian partners with appealing financing options that boost profits by attracting new and returning customers.
At Crelogix, we believe in excellent communication with all of our valued business partners: our team of specialists works closely with you and your staff, developing customized payment plans that are tailor-made for your client base.
Our company is well-diversified, with partners in many key spheres of the business world. Some examples of our areas of expertise include : tuition loan financing, automotive aftermarket consumer loans, healthcare financial services, and consumer durables term financing. We also offer other important financial services, such as collection, ongoing management, third-party servicing, and the acquisition of Canadian consumer installment loan receivables portfolios.
Our company is also full-service: when you partner with us, you will gain access to all of the financial solutions you need. One of our most popular services is providing low monthly payment plans to Canadian consumers - we do this by offering our partners in-house financing that allows them to provide instant, online pre-approval for consumer loans. Our trademarked MyCrelogix.com system is a 24/7 computer program that makes pre-approvals a breeze. All you need to do is punch in some basic information about your client, hit Enter, and find out if that person qualifies for the loan they want. It's so easy, and it really helps to sell your goods and services.
When customers know they have access to loans right at your place of business, they tend to relax and grow closer to a final decision about purchasing power products or other merchandise...for this reason, point-of-sale financing is a vital selling tool that your sales team will really appreciate. You can also add value to your marketing and print ads when you feature catchphrases, such as "in-house financing" or "low monthly payment plans". By adding a few simple words to your signage and promos, you can actually re-energize your public image and drum up more interest in your inventory.
At Crelogix, we handle all loan administration; we take care of the details so you don't have to. Call or email us today to find out more about our cost-effective term financing solutions... |
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Crelogix is Expanding
 In an effort to better serve our valued partner relationships, we are asking you, our readers to recommend an exceptional achiever to be part of our team at Crelogix Acceptance. We seek to recruit and select the most competent, industry knowledgeable and expert professionals in the Power Product sales industry. Do you know a independent sales agent, a regular provider of services or supplies to your shop, someone that you feel confident in recommending to us? We would like to hear from that candidate.
More details are available on our website or click on the link below.
http://www.crelogix.com/positions.aspx |
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Pierre Genest
Jason Leung
Lawrence Scott
