BDC just put out a newsletter that referred to an article called ‘Technology to Help Entrepreneurs Boost their Cash Flow’. It’s a good article, originally posted back in February 2011 but still relevant. While the article recommends technology to help businesses become more productive it also cautions owners not to buy technology for the sake of technology. It’s important to train staff on how to run the technology or the investment doesn’t work.
That same article refers to using mobile payments as a cash flow tool. The only thing that surprises me there is that mobile payments haven’t caught on quicker. According to a study regarding technology in the Hospitality Industry, the University of Denver in conjunction with the University of Nevada suggest that by 2015 only 53% of restaurants and 39% of hotels plan to offer mobile payment. I travel a little bit and waiting in line at a hotel the next morning to pay my bill is not one of my favorite experiences. If you are looking to provide a better experience for your customers and to better manage your cash flow maybe it’s time you looked into mobile payment.
Looking at interactive digital signage? That same university study ranked interactive digital signage high in both business impact and customer engagement for restaurants and hotels. If you are interested in exploring that option let me know as there is a company in our region that specializes in digital signage.
In closing today I just can’t resist sharing this post by Fred Kofman called ‘Cut Your Meeting Time by 90%’. Fred suggests that the only goal for a meeting is ‘to decide and commit’. While other things naturally have to occur during meetings if there is no decision or commitment to follow through the meeting was probably a waste of time. A great article.
Productivity is a measure of how much – work, time, effort, money, or energy – you have to put into something to get the desired outcome. For more tips and tools on how to get more productive please visit Blue Collar Consulting Inc. at http://www.bluecollarconsulting.ca/ or check out our new website at http://www.connectingindustry.ca/