BizX is a community of thousands of business owners who support one another and most importantly, are able to buy and sell amongst each other without spending cash.
Anne Phyfe Palmer is the sole proprietor of a business called 8 Limbs Yoga. Started 17 years ago, 8 Limbs is based on the practice of not just the “Asanas” (exercises) that one commonly associates with Yoga, but also includes other seven components of the ancient Indian tradition, including Yama (ethics), Pranayama (breath control), Niyama (self-discipline), Pratyahara (withdrawal of senses), Dharana (concentration), Dhyana (meditation) and Samadhi (bliss). The 8 Limbs Yoga centers offer classes for students of all levels, and a non-competitive atmosphere for practitioners to offer their expertise and grow. 8 Limbs has four yoga centers across Seattle, and won the small business award for the city of Seattle in 2008.
Early in the business, Anne discovered the benefits of trading services organically – someone who wanted to take a Yoga class would offer some other service rather than cash in return. However, as the number of studios grew and the business expanded, Anne needed a way to maintain profitability while having a work-life healthy balance, including time for her family. Cash flow for business expenses was always tight.
Anne’s business became a member of BizX in 2005 and first started accepting BizX as a form of payment for yoga classes. And very soon, she realized that a host of products and services could be availed in the BizX network using her newly earned balance. BizX paid for remodeling expenses on her home, and that turned her into a believer in the cashless concept.
Anne uses BizX to visit good restaurants, and not have to pay the hefty price tag of a family dinner. She browses the BizX marketplace regularly to purchase gift certificates to restaurants with her balance. She uses BizX on signage and other marketing activities, plumbing and other services for her yoga facilities. Anne also fondly remembers her vacation to Sonoma, all paid with BizX.
Her favorite part of BizX is that it allows business owners to work with a currency other than cash. Thriving small businesses can exchange business services without it impacting the bottom line. Once 8 Limbs started accepting BizX, she noticed that customers who paid with BizX were likely to spend more because in their mind, they were not spending cash. However, this only meant more new business, and more liquidity to spend on the things required by the business or for Anne’s personal life.
“BizX also appeals to my “cheap” nature. I am very aware of how much I spend; I love to save. That’s why I love using BizX”.
As her business expands, Anne is anxious to make sure that she focuses her time on marketing activities (such as her blog), and sees BizX as a key way to growing customers and growing her business. Anne is all for accepting BizX at her centers. As an advocate of local small businesses, she hopes to see more local businesses sign onto BizX so that she can do business with them in a cashless setting. “I recommend BizX to business owners to get the most out of their business”, gushes Anne.
With the sales generated through BizX, the owner of 8 LIMBS YOGA increased sales by 140% in one year and has used her BizX Dollars (¤) to increase marketing, purchase new signage and even take family vacations.
MEMBER SINCE 2004