5 Ways Business Funding Will Scale Your Business
Most businesses think that business funding is something that you need when your business is short on cash or times are hard. A lot of businesses go out looking for business funding when the business is not good. The time to get business funding is not when your business is doing horrible or you are strapped for cash.
If your business is doing great, there is no better time to go out and get business funding. Why?
1) It’s easier to qualify
2) You can get better rates and terms
3) It’s easier to grow your revenues with a capital infusion
4) It’s easy to utilize the simple formulas that we have in here to scale your growth.
DON’T WAIT FOR THINGS TO GO BAD; IF YOU ARE DOING GOOD – BUSINESS FUNDING CAN SCALE YOUR BUSINESS TO THE NEXT LEVEL.
This is how you can determine if business funding can help your business grow. There are 5 simple steps which will show you the value of business funding.
Step 1: What Do You Need To Grow Your Business?
While this may sound like a stupid question, it is a very important question.
The FIRST STEP you need to take is determining what your business needs to grow sales. Most businesses need one or more of the following?
• Inventory and More Products
• Expanding Existing Line of Products
• Adding Additional Services
• Marketing and Advertising
• Sales People or Personnel
• Machinery, Equipment, Software or Hardware
• Expanding into other Territories or Adding Another Location
Step 2: How Much Money Do You Need to Achieve That?
How much money do you need to achieve that? Again, another simple question and it may sound stupid. But you need to start off with basic questions.
How much would you like to invest into your business or how much do you need to grow your business?
$10,000, $20,000, $40,000, $50,000, $100,000 +
Step 3: Where will the come from?
There are only three forms of cash that flow into a business:
REVENUES FROM SALES
DEBT: A LOAN OR LOANS
Where will the money come from to help your business grow?
If you have an existing business and you want to invest in your business you either sell more or you have great close out balances and have enough reserves to re-invest. If you plan on selling more; most sales and marketing strategies require some sort of cash infusion. If that is not the case you only have two options: an investor or a loan.