Running a business is hard, and there are many business pain points that can bog down a small business owner. However, at PaySimple, our business is about making it easier for your business to succeed. Below is a list of common small business pain points and how PaySimple can help.

We don’t have enough money.

One of the biggest challenges with small business ownership is not having enough money. This can keep you from hiring help or investing in new opportunities to grow your business. 

PaySimple can help small business owners with their money challenges because we can help cash come into your business automatically. With streamlined payment systems, small business owners can improve their cash flow and find that they do, in fact, have enough money when opportunities come about. 

We can’t keep existing customers.

It is vital to keep customers you already have. However, many businesses aren’t keeping existing customers because systems in their business are broken. For example, they may not have a way to communicate and engage with their existing customers continually. Additionally, some customers may be turned off because a business’s systems are outdated. For example, if a business only accepts cash, this may hinder customers coming in if they don’t have cash. 

PaySimple can help small business owners keep their existing clientele. First, with our electronic payment processing, we can make it easy for your customers to purchase from you regardless of the payment method they prefer. We even allow for recurring billing so you can create payment plans and memberships to keep your customers coming back again and again. Next, because we integrate with apps like Constant Contact and MailChimp, we make it easy for you to engage with your customers constantly, so your products and services are top of mind. 

Revenues are OK, but profitability is bad.

Revenue is important, but at the end of the day, the business needs to be profitable to succeed. Unfortunately, many small businesses struggle with managing their business finances and often don’t know if they are profitable until it’s too late. 

PaySimple helps make sure businesses are profitable with our detailed reports and our integration with QuickBooks. With PaySimple, business owners can easily access transaction details, billing schedules, and sales by customer. With our integration with QuickBooks, you can easily access your profit and loss statement and balance sheet and see a detailed picture of your business finances, allowing you to adjust your business strategies to increase your profitability quickly. 

My employees are coasting on me. There’s no work ethic here.

Human resources are the lifeblood of most businesses. However, keeping employees motivated and performing at their best is a challenge for small business owners. 

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PaySimple can help small business owners improve their management abilities and develop their workforce with the free articles found in our blog. For example, if you’re looking to increase your employee’s work ethic, you may want to read 11 Employee Retention Ideas When You Can’t Afford to Pay More.

We have a bunch of receivables, but the checks are not coming in for some reason.

Having receivables on the books is okay, but at the end of the day, cash is king. Receivables won’t help you pay your employees, suppliers, and vendors. Many small businesses struggle with managing cash flow because they are so busy doing the work that they lack time to collect what’s owed. 

Sometimes, it’s not that your customers are trying to escape paying; they simply lose an invoice at the bottom of their mail pile. However, your customers shouldn’t have to contact you whenever they want to pay for a recurring service. PaySimple makes it easy for you to set up recurring billing schedules so your customers can pay by credit card or bank account automatically. This way, you can eliminate all those receivables and save you and your customers some time. 

Cash flow is tight. We may not make payroll later this month.

Having cash on hand is extremely important to small businesses. Often, it’s not a lack of business but simply a lack of a good business system that keeps cash flow problems from being corrected. 

At PaySimple, we help small business owners improve their cash flow by providing flexible, efficient, and easy payment solutions. If your business is struggling with cash flow, one system you may want to add is requiring upfront deposits from customers. For example, Westfall Roofing did this with the help of PaySimple, and they were able to increase their deposits by 50%

I have too much to do and not enough time.

As a business owner, you’re constantly being pulled in a ton of different directions. You have to think about marketing your business, managing your employees, product development, cash flow management, customer service, the list goes on and on.

Top 5 Challenges Small Business Owners Face

PaySimple can help small business owners save time by automating the payment process. PaySimple makes invoicing easy, and there’s even an option for recurring invoices. In addition, clients can easily be set up on auto-payment plans so you can stop worrying about collecting and get time back, allowing you to run other parts of your business and enjoy your life. 

I need help!

As a business owner, sometimes you just need to talk to a human without being on hold for hours or being given the runaround. 

At PaySimple, our award-winning customer service team is here to help our customers. When customers call into our support, they get a real person that works for PaySimple and can help them right then and there, no transfers required. Should you need to call, you’ll always speak directly with our team every single time. We also offer structured onboarding as well as ongoing training.

If you’re dealing with any of these business pain points, we’re here to help. To learn more about using PaySimple, reach out to our team. We’d love to show you exactly how we can help your business solve common pain points today. Request your personal consultation through our simple online form to get started.