One of the great things about running a small business is that it allows you to more closely interact with your clients. At MeloTel, we have developed numerous business relationships with clients that we happily refer to as “friends”. And yes, sometimes, we like to help our friends out by giving them a bit of a break, if possible.
The more you know about someone, the more you develop a personal concern for his or her well-being. There is nothing wrong with that, of course, but because you are working with people you like, don’t forget that they still owe you money! It’s fine to offer those who are close to you discounts, but there’s a way to do it that will still allow your business to thrive.
After all, you don’t want your business to suffer just because you are working with friends who are on a tight budget! There may be times where you are working within a tight budget yourself and will need a helping hand to get through some difficult patches. On Microsoft.com, freelance writer Jeff Wuorio discusses the ways in which business owners can make budgets work.
The key, says Wuorio, is to remember that being on a budget is not a bad thing. In fact, it’s a good business strategy to set guidelines for yourself that include smart saving habits. There are some problems that arise when working within a tight budget, however. Wuorio offers some suggestions that may help.
Accept the learning curve. Wuorio writes that it’s important to understand that the practice of properly allocating your money towards appropriate expenses will take some trial and error. Learn to adjust your budget, over time, as you go through your list of requirements that will help drive your business. The more you do this, the better you will get at it.
Be prepared to miss your budget estimates and act accordingly. According to Wuorio, “This was rule No. 1 in setting up a budget: knowing that your budget projections are a best guess and nothing more.” As part of your learning curve, you will sometimes need to reallocate funds to certain areas of your budget so that you are able to make up for potential losses in particular areas.
Work flexibly. Sometimes your revenue won’t match what it is you expected to make. In some cases, you will need to trim back your expenses. In other cases, you may need to invest in better advertising methods. This works best, however, when you actually are making more than you expected!
Watch your cash flow. Writes Wuorio, “If you want to stick to a budget, make sure that your inflow more than compensates for your outflow. Monitor your income closely to make certain that you’ll have adequate funds to pay your bills, particularly if your business is prone to long lapses between paychecks.” Check out our next blog for the completion of this list of tips!
“Imprezzio Marketing has been with MeloTel for 4 years and their service has been outstanding over the years. Their customer support team is always extremely helpful and always responds and resolves any issues that we have. Thank you MeloTel for providing us with such great service. READ MORE"
“When TK Enterprises found MeloTel 2 years ago, it was in a crisis situation. Our previous VoIP provider had left us in the lurch and within days, MeloTel had us back up and running and we’ve never looked back since. We started with VoIP services and have worked with them to bring our company’s technology levels up to be more cutting edge and competitive while reducing costs and mitigating risk the entire time. READ MORE"
“Benjamin Verde Incorporated has been a loyal MeloTel customer since 2013. We are able to provide a variety of Artist and Entertainment related solutions such as Web Hosting, Artist Marketing and Artist Funding to clients across Canada. By utilizing MeloTel’s robust products and services our agents are able to provide fast and efficient customer care to various radio stations, record companies, independent artist as well as popular international brands via Benjamin Verde’s VXCO.net portal. READ MORE"
“As the leaders in promotional advertising with over 25 years experience we strive to satisfy all of our clients’ needs when it comes to marketing them and their businesses. We go over and above to make sure that all of their advertising demands are met with no exceptions. MeloTel and Synergy have been in business together since providing exceptional VoIP and technical services. READ MORE"
“I have been a MeloTel customer since 2009 and wanted to tell you how much my whole office appreciates your services. Life becomes a lot easier when someone is there to help when we need it. That kind of service is why we will remain a loyal customer for many years to come. Thank you! READ MORE"
“Toronto Cosmetic Surgery Institute is a plastic surgery clinic, located in downtown Toronto. On site we have a fully functional, state of the art surgical facility. MeloTel assisted us when we went paperless a couple years ago in replacing and restructuring our computer hardware and network. They have been providing us with IT support ever since. Whether it be remote sessions that are required, or on site visits, the service MeloTel provides is always quick and efficient. READ MORE"
“Global Mentoring Solutions (GMS) is a North American based, white labelled outsourced help desk provider that partners with major ISPs, eLearning Support Providers and mid-market IT Service Providers. With MeloTel’s telephone infrastructure services GMS is able to provide support for over 8,000 technical support interactions per month! GMS has been relying on MeloTel’s expertise and professional support services since 2010. READ MORE"