In 1969 I started my walk to school past Chamberlains shop at the top of West street Axbridge in Somerset.
On the wall was a chewing gum vending machine which took an old penny, I loved spearmint, I can still see the silver foil and it’s serrated edges.
By 1971, we had gone decimal, the coins all changed and the vending machine and the shop itself just disappeared.
Without realising it, the change that was coming in the 1970’s would unstitch me as an adult in the 1980’s.
By 1990, money became very expensive, that’s a funny thing to say these days, or is it?
Inflation stretches our income.
Inflation is an indication of the velocity of money, that means how many times the same bit of currency is exchanged for good or services in a given period.
The given period will be much much longer than your Government tell you.
But in this glutenous mix of financial woe, there is another monster at work, an obsequious financial rapist called debt deflation.
This ensures we spend a bigger percentage of our disposable income on meeting debt repayments.
Only delusional optimism can argue the affects of this within the UK property market.
And for the first time since the 1920’s the wax and wain of inflation and deflation will send us into a financial washing machine, probably for the rest of our lives.
So how can small business survive this new financial landscape?
I think the old adage that cash is king will not manifest in this storyline, and that’s because the smartphone has smashed our everyday financial pot, it’s now the benchmark for future business survival.
Which models should small business adopt?
To use the word obsequious twice in one article is the key, not an easy word to grasp or explain. Much like the inability to repay debt:
“How can it be that I cannot afford it when once I could ?”
We will be forced to gravitate to subscription because paying on the never never will become impossible to manage.
Chewing gum money is upon us and the customer needs a way to manage lots of micro payments inside their money management.
Stripe & PayPal to the rescue ?
Despite the complaints of slow money transfer and the exploitative 5% charge, they actually have quite incredible back office structure.
It allows small business to re imagine every aspect of their business into the new subscription based economy.
Vouchers and coupons.
Linked to the subscription model is the perfect new entry point for new business, the discount voucher.
But not a piece of paper version, a smartphone version with awesome (hate that word) options for your business:
– Per cent off
– Amount off
– ID (Code)
– Max redemptions
– Redeem by
Smartphone access points for subscription ?
You have one second: It’s not the phone, it’s the user, “In situ and fast“
The Coupon or Voucher is connected to a serviced QR that has it’s own URL for social media and physically printed QR to scan.
Copy the Coupon or Voucher code and apply at the checkout in your shop: