The company makes money through its employees, creating and delivering goods and services for the customer. Easy? But there are plenty of pitfalls and problems that even the most business-savvy entrepreneurs face. Some cannot source workforce, some have clients pile up overdue invoices, yet others cannot find adequate suppliers. It is the entrepreneur that makes the choice whether to do something about it in time (the solutions are perfectly available) or just count on good luck.
The trying challenges of the entrepreneur
What sort of people to engage in achieving your goals? How to find the best sales tips – clients and suppliers? How to get your money?
These are the stumbling blocks of entrepreneurs, one after the other; the right talents cannot find the company or simply do not trust its reputation, the company brand remains invisible or simply unenticing for suitable partners, and finally, your hard-fought-for clients and suppliers end up not paying up. Sounds like a recipe for disaster and we do see such disasters more often than we’d like.
In order to be successful and actually earn money, alongside all other activities you should be constantly displaying yourself to potential employees as well as clients and suppliers and when you find them, sift out the suitable ones and agree on terms. Now the following four factors will play the key role:
- What information is publicly available on the company, what is the company brand and the general attitude towards it?
- What sort of information providing sales tips is accessible to the company?
- What sort of background information on its partners and related persons can the company make use of?
- What kind of security guarantees does the company apply?
For almost five years now, we in the Kreedix Group companies have been working towards helping other companies avoid catastrophes – to protect their money and make it grow. We saw the problem and our board came up with a solution – we brought Inforegister to the market in 2014. Since then, we have been developing our products and have now become the leading innovators in business information in Estonia.
The solutions exist already today
Now I would like to give answers to the questions posed above, and demonstrate how easy it is to protect yourself and your assets. Register and other companies in the group provide top-of-the-range solutions for addressing all of the problems entrepreneurs face mentioned before.
1. Be smart and display your enterprise and brand where the number of suitable viewers is highest – helping you produce sales tips
With the tools and options available today, good old-fashioned display ads simply do not work anymore. It is like trying to kill a fly with a blast of a cannon – pure and simple waste of resources, cluttering the media space and finally, numbing the audience. It is more efficient to take aim and shoot where the viewers – potential employees, clients and partners – are, and think your strategy through. Better yet, go to a place where the viewers are already interested in finding out more – Inforegister.
Our site visitors come to nforegister because they want to take good care of their money – meaning they are highly motivated to take in information
How do we know this? Because of the effective pre-selection: visitors arrive at Inforegister via two possible routes, either a web search of a specific product/enterprise/individual takes them there or they head straight to Inforegister for a search. The fact that viewers have done a search online tells us that they are motivated and in need of information. The level of viewings we’ve achieved means Inforegister is one of the top destinations visitors go to.
And in both cases, the viewer ends up on the company profile, finding well-presented brand information (if the company has invested in buying it) or reading a business media article (ordered by the enterprise or posted by us for a stand-out company). The company can also display on its profile job adverts, that link to Inforegister’s JOB PORTAL.
The entrepreneur is in charge of what is displayed on its profile on the Estonian business portal with the highest visitor rate – Inforegister.
2. Let sales tips come to you and reduce the resource costs of finding new clients
The entrepreneur has a vision or working knowledge of his/her clients – the target group. S/he knows the what, who and where about the target group. But having this knowledge, why not make it work for you?!
InforegistEr’s Mobile app IRNOW is able to learn and offer the user suitable sales tips
Every time a user checks a company on the IRNOW! app and decides to follow it, the basis for offering sales tips is formed. The app lets the user know when new similar companies that could be potential new clients are set up.
Inforegister displays companies by field of action as well, providing the possibility to view a whole array of similar companies.
If you take from amongst your clients the best suited ones, with clearly defined fields of activity (genuine activity, in correspondence with the product/service sold to them), then it is enough to simply click on the link of field of activity of the company profile and other similar enterprises will be visible right there, on the palm of your hand. The entrepreneur then only has to take the trouble to get in touch.
3. You should only sell on credit (invoice) to those likely to pay on time and make sure this principle is adhered to in the company
‘Burning’ money is never, not ever, the goal in business, and if this is your goal, then you are not in it to do business. The purpose of business is to make maximum return on your invested funds. There are pits that swallow money – some can be patched up before they devour your assets, some can only be alleviated afterwards.
Deciding to wait for your partner or client to pay up is a bit like fortune-telling. The insolvency of a company can be predicted based on experience and gut feeling, but it is a lot more effective to rely on verified forecasts.
The science-based creit score can predict a company facing insolvency with close to 100% accuracy
The Credit Score model has already received mention in the international CAISE Conference Papers.
Every client of Inforegister can access the Credit Scores of companies at any time at no extra cost; these are part of the companies’ Credit Reports along with history of the Score and prediction for the future.
The Credit Score can be integrated into your company business software, where it can be used for the basis of setting payment terms and rules for reminders etc.
4. You can insure your sales portfolio (especially when exporting). You have done all in your power and yet the money does not come through – an international credit insurance company is here to help.
However great your local credit management, unexpected situations can still crop up when dealing with large volumes and export trade, causing payments to be delayed or written off completely. It is only reasonable to insure substantial turnovers, especially in foreign trade.
Depending on the company, a certain level of delays or debts can be the death blow to the company
Kreedix Kindlustusmaakler OÜ works in co-operation with strong international credit insurance companies, and the insurer will carry the costs of the brokerage fees.
Kreedix Group with REGISTER OÜ and Inforegister provides solutions to save you time and money and helps these valuable resources grow.