Unexpected Positive Changes In Cash Flow From Moving Your Business Online

It seems that nowadays every single business is present online in one way or another. But in reality, only 64% (two-thirds!) of small businesses in the US have a website according to last year’s research. And this number takes into account all the businesses including e-commerce stores and those, which follow other web-only commerce models.

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The aforementioned third can list a huge number of reasons why they don’t want to establish an online presence:

  • The current business model doesn’t seem to require the website
  • It’s almost like building a start-up
  • It’s too expensive
  • It takes time and human resources both to build and to maintain the website
  • Way too much risk
  • Way too many competitors and a whole new market to cultivate

All of these seem to be quite prudent, but if we dig a little deeper, in reality, all of these reasons turn out to be just excuses. As even for a purely physical store or service there’re enormous benefits at the very least in the cornerstone of any commerce, namely in cash flow.

Let’s go through every single reason for moving your offline business to the world wide web and how you can benefit from it.

Reasons You should start doing business online

Web presence improves your image and makes it measurable. It seems a bit counter-intuitive but by creating a virtual presence of your business you’re making your reputation tangible. Nowadays people looking up reviews before purchasing absolutely everything. And you’re probably losing clients because they can’t find any feedback on your ventures.

Actually, It’s not that expensive. Of course, you can spend tens of thousands of dollars on a custom website. But the current market reality allows for easier solutions. There’s always an option of using self-hosted platforms like Shopify, WordPress, Wix, and others. And surprise surprise, the ready-for-use solution would cost around $100. In addition to that, it takes one or two days to make it work.

Information on your website will save you hours you spent on consulting clients. This long-term solution will help to answer all the possible questions your clients are asking daily. Of course, you can do whatever you want in your spare time. But it can and probably should be spent on revenue-generating. It is also useful in establishing a relationship with your clients.

You can reduce staff costs if it’s necessary. The staff members involved in customer support, sales, billing, order fulfillment could be easily replaced by the website’s bells and whistles. And you cut your rental expenses afterward.

Managing your business from home or practically any place is now an option. You can get rid of rental expenditures for good. The home could be your office. It’s even more crucial given the corona lock-down. Business owners are now faced with the fact that physical stores are pretty good for nothing. It’s a necessity to ship goods now, which is practically impossible without the website.

The global market is open for you now. Deliver your goods all over the country and even abroad. For sure it requires marketing and investments, but instead of a few dozens of clients living near your corner-shop, you potentially have dozens of thousands.

Your goods and services are available for purchase 24 hours a day now. There’s no need to explain that “being open” 3 times longer means at least twice as many clients. And what’s even more interesting this benefit by itself brings a necessary change in your payment system. It opens a perspective for way more advantages payment form namely- online payment.

A point-of-purchase online payment form instead of invoicing for services

If the website is still in the planning for you, the issue of invoicing is probably the irritating and necessary fact of life for you. But aside from all the advantages mentioned above the online store relives you from postponed payments. Yes. This is possible.

Your clients receive invoices way later than you provide your services or goods and the money you’ve earned takes weeks to appear in your pockets. Meanwhile, it’s quite expected on the digital market that you’ll receive your purchase only after the transaction is made.

A kin entrepreneur will never prefer postponed payment to an upfront one (if the interest is not involved). In addition to that, the cash-flow process is accelerated, turnover growths and business inevitability evolves.

With an online payment form on your website or through a mobile app, clients can pay for furniture, dress, or practically any good you provide.

The same goes for contraction, plumbing, cleaning services, and practically anything you offer.

We’ve discussed how simple it is to move your business online and establishing the point-of-purchase online payment is a walk in the park compared to that. Services like WELLCOINPAY allows to perform the transition from one payment system to another in a few clicks. It’s all that it takes to expand your range of potential customers, making the payment process more convenient for you and them.

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