The business world is a sector of society that is often looked at at being rich and having an endless amount of available funds. This is not the case and in fact could not be further from the truth. Companies need to be exceptionally careful with how they spend their capital, and this can be a difficult and often complicated procedure that if done right could mean prosperity and business growth, and if done wrong could mean financial ruin and failure.
In order avoid ruin companies need to take advantage of whatever discounts and decreased prices they can come in to contact with, which is exactly what Billy McFarland‘s latest invention might have in store for them if they pay attention closely.
McFarland is a young individual just entering into the prospects of entrepreneurial engineering. At only twenty three years old McFarland has created an interesting experiment that seeks to combine social media practices with thrift.
According to Fortune, Billy McFarland has created Magnises, a social membership program that is originally created to offer average consumers the ability to save vast amounts of money on entertainment locations.
Magnises operates quite easily. In order to take advantage of the program an individual signs up and becomes a member and is then given a special metal card they can use.
This card is attached to a chosen bank account and is used a sa form of payment at designated locations. Once payment is rendered the discounted amount from Magnises is removed from the total, allowing members to save a lot of money.
This could mean big changes to the way that business is conducted, especially when you consider that most business meetings are performed within restaurants, bars, and other locations that Magnises gives discounts on.
While it has not been implemented yet, it would make complete logical sense for companies to include Magnises in to their business model.