Here’s How to Get Paid On Time

No one likes being in those tough situations where a client is late on a payment and you have to make a collection call. Collection calls are usually held off and made haphazardly only when you’re short of money and need those funds to pay expenses. By holding off on making that call and collecting, your business and cash flow suffer.

 

You’re never too busy to make collection calls, no one likes to make them. They can be tedious and risky. It could create tension with the client and potentially jeopardize future business with that person – or you could not get paid at all. Take a look at these tips to help make sure that you get paid on time.

 

Acceptance Letter

By adding an acceptance letter to your invoicing process, the client signs this document after you have delivered your product/service but before invoicing. Make it clear that everything has been delivered, it’ll prompt clients to disclose any potential issues they may have.

 

Managing Disputes

If the dispute is valid, address the issue immediately. In this case, consider showing them the signed acceptance letter. Only if this approach doesn’t work, then consider speaking to a legal counsel to determine the best solution.

 

Track Your Invoices

Take notes on a notepad or use the invoicing aging report that comes with most standard accounting packages.  This will allow you to keep track of who owes you what and when.

When the invoice is a few days past due, give them a call and ask if there are any issues and if they can provide you with an expected payment date.

 

Late Payments

Always remember to show your client respect and professionalism – even if they don’t show it to you. This is both a good business tactic but also a good collection tactic.

 

Be sure to visit the Bullfrog Blog often for more tips on productivity, marketing and risk mitigation.

 

5 Tips to Avoid Holiday Burnout

If you haven’t already started humming Mariah Carey’s All I Want for Christmas, you might start after this! We all know that the holidays can be a tad overwhelming for any business. The holiday burnout usually begins with events and parties, work obligations and family commitments, finding time to shop – a lot of high expectations with only a little amount of energy to sustain it all could cause you to boil over.

Once November hits, finances, family issues, work, illness and over-scheduling are common obstacles. You can avoid the crazy holiday burnout with these 5 tips!

 

Plan Ahead

Small business owners don’t always want to completely leave their responsibilities for weeks on end. Rather than constantly checking your emails, or rushing to the phone whenever it rings, let co-workers and clients know the specific times and dates that you will check your emails and voicemail over the holidays. By planning ahead for regular check-ins, this will help keep your holiday burnout and stress levels to a minimum.

 

Tidy Your Desk

By avoiding the clutter on your desk, you’ll help avoid mental clutter. The last thing you want to do when you get back to the office after the holidays is deal with outdate items and papers on your desk. For each piece of paper, either toss it, pay it, file it, or act on it! Once you’re done organizing, both your mind and desk should be clearer and more relaxed.

 

Holiday Goals

Rather than telling yourself you’re going to bring in 12 more clients by the end of the year, set daily goals. Tell yourself that you’ll contact 6 of those clients today, 6 tomorrow. Breaking down a larger goal into daily, smaller goals, you’ll get your work done more efficiently.

 

Stuff Your Stocking, Not Your Inbox

Be sure to check that you have plenty of space in our inbox to store all your emails and also your voicemail while you’re away, your colleagues, clients and employees will feel a lot better knowing that their emails will be ready and waiting for you to open up when you return.

 

Step Away from The Desk

It’s the holidays, during those weeks leading up the holidays it’s important to take a break. Go for a walk, take some time to decompress and compose yourself! It’s important to schedule some quality downtime in order to maintain balance in your life. The holidays are no reason to stop exercising or taking care of yourself, no one needs the added stress of not fitting into your jeans post-holiday season!

 

Be sure to visit the Bullfrog Blog often for more tips on marketing, productivity and risk mitigation.

 

Remembrance Day – Lest We Forget

 

 

On Remembrance Day

 

At Bullfrog Insurance we salute entrepreneurs 364 Days a year because starting a business takes courage and succeeding at business takes commitment.

 

However, on November 11th we salute those who put others before themselves, those who serve our great country, those who serve the purpose of peace everywhere and those who have made the ultimate sacrifice.   On Remembrance Day we take a moment to think about and thank all the service men and women who do so much for our country, democracy and freedom everywhere.

 

From the entire team at Bullfrog Insurance, we wish everyone a peaceful Remembrance Day.

 

 

RIP: Traditional 9-5 Work Hours

There’s been a lot of talk lately about the gradual death of the traditional 9-5 hours, and that seems likely to continue. Thanks to technology and new workplace policies that allow employees to have flexible work schedules, there isn’t a huge need to stick to the traditional work hours. Having an online/mobile workforce is upon us and there are many jobs out there that are flexible in nature.

 

The Freedom of Flexibility

People like to point their fingers at Millennials and say they aren’t interested in working, but for most it’s more about the idea of freedom and having flexibility. With technology and the economy constantly changing it’s a lot more possible to work from home and have more flexible hours. Even with office jobs, there is plenty of room available for a more flexible start and finish time or working from home a few days a week – as long as the work is getting done!

 

Even if you aren’t a business owner, there are numerous options for everyone. If you are a business owner then you get the opportunity to be creative about how you manage your employees and their schedules.  This is an advantage since the rising generation of employees value the importance of a work/life balance.

 

Collaborative communication tools like Slack or Microsoft Teams give you the opportunity to interact effectively with your team when working from home.

 

Work on Your Own Clock

Business owners who have the flexibility to work from home can work at peak hours that are most convenient for them. Technology allows you to be connected and complete your work tasks as necessary from anywhere!

 

Though there are still some traditional 9-5 working hour businesses, it’s simply not as necessary or as common as it used to be. It’s a lot easier for both you and your employees to create a schedule that fits yours and their needs, allowing you to take back control of your time and create the work/life balance that everyone wishes for.

 

Be sure to visit the Bullfrog Blog often for more tips on marketing, productivity and risk mitigation.

 

Federal Tax Reform Proposals: DAS Legal Can Help

The controversial tax-reform proposals have been sweeping the internet the last couple of months. The federal government has a plan to address the use of some common tax-management tools for private corporations. But how much will these changes cost small businesses?

 

In the federal proposals, there are 3 main changes being discussed:

  1. To limit the spreading of income and capital gains among family members associated with the corporation.
  2. To prevent a corporation from investing in passive assets using corporate after-tax earnings.
  3. To ensure that capital-gain tax treatment cannot be used in taking out corporate earnings in lieu of taxable dividends.

 

If you are concerned at all with whether or not your small business will be impacted by these changes to the federal tax laws, DAS Legal is here to help. They offer an Elite Package that has coverage for Tax Protection. After you have filed your taxes, if you happen to get audited and informed by the CRA that you owe any additional taxes because they did not comply properly with the new tax laws. DAS Legal will assign you a tax lawyer to work with you and your accountant (if applicable) to represent you with the CRA.

 

There is a $500 tax protection deductible, but DAS Legal will cover all of the reasonable and necessary costs incurred by the appointed representative, this includes any of the additional expenses and disbursements such as experts’ fees, court fees, and reports. If you are audited DAS Legal will cover you.

 

Still have questions? As a DAS policyholder, feel free to call their helpline with any general legal questions before filing a claim – 1-877-255-4269. Policies start at $175+ tax per year, for more information click here.

 

Be sure to visit the Bullfrog Blog often for more tips on marketing, productivity and risk mitigation!

Marketing Nightmares That’ll Haunt You

Have you ever been slowly drifting off to sleep, or you’re lounging in bed on a Sunday morning – when all of a sudden, your head jerks up from the pillow and your heart skips a beat!

You think to yourself “Did I schedule that campaign? Send that link? Change that subject line?” These tiny moments of terror and fear should be enough to remember to yourself, marketing is a complicated beast, even a relatively small mistake can reveal its dark side. It’s  all chilling stuff but that darkness is avoidable, all of these mistakes are preventable with a few precautions!

 

  1. Dead-End Pages

If you’re a small business and have a website, you’re already doing better than the competition. But many small business websites that do already exist still don’t offer a way for visitors to engage with those businesses online. Having an informative website is great, but if you don’t provide your visitors’ a simple and direct way for them to immediately act on, then you’re wasting your time and theirs. Start to think about how you can actively create an ongoing relationship with visitors by creating at least one call to action that will spark that relationship on your landing page.

 

  1. Following the Wrong Metrics… Off a Cliff

It feels great creating something that gets a lot of traffic, and watching your social share count rise makes it even better. None of this does much good if very few of those visitors actually engage with your business any further. All those new leads could leak right out of your funnel if you can’t get them from there to your checkout page. Just remember that your page views, social stats and having a high conversion rate aren’t the end goal, they may not stand in direct relation to revenue and profit. So, watch your step.

 

  1. The Inconsistency Gremlin

Inconsistency is that annoying little gremlin that’ll throw a wrench in your entire marketing plans. Have you ever been to a webpage and the special price is $38, but the checkout says $38.99? These discrepancies may not put a huge dent in your conversion rate, but they’re likely to chip away at it over time. Inconsistent marketing can actually cost your business money. At the start of a new campaign, sit down and list your core value proposition, pricing structure, etc. Then, look back at that document every time you create a new piece of that campaign so that the inconsistency gremlin doesn’t come crawling out from the shadows.

 

  1. Bloodthirsty for Leads, Leads to Unsubscribes

It’s normal to be excited when you tap into a new source of leads. But, some marketers take that excitement and take it a little too far. They begin sending their new leads emails constantly, with messages that boil down to wanting them to BUY NOW! This is a perfect recipe for unsubscribes, you have to build trust. Do more than send emails to move those new relationships forward. Use thoughtful, respectful follow up sequences to give leads reasons to buy, rather than just telling them too.

 

Be sure to visit the Bullfrog Blog often for more tips on marketing, productivity and risk mitigation.

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