3 Ways to Fund Business Growth

Two focuses of my blog are Financial Literacy/Money and Business/Entrepreneurship. Even after you’ve started a business, you have to think about it’s growth. There are multiple ways to do so. The following guest post is entitled, 3 Ways to Fund Business Growth.

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Growing your business can give you the opportunity to generate higher revenues and increase your profits, but you’ll incur more costs too. If you’re expanding your operations or increasing brand awareness, for example, you’ll need to ensure you’ve got the funds required to finance your plans.

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Fortunately, there are plenty of options when it comes to securing funding, particularly if you’ve got a good track record as a successful startup. To learn more, take a look at these three ways to fund your business growth:

1.Reinvest Your Profits

If your startup is performing well, you could reinvest your profits to fund your expansion. With no need to access external funding, this minimizes the level of risk associated with your company growth and means you won’t have to obtain approval from anyone in order to proceed with your plans.

Although reinvesting your profits can certainly be a viable option, it isn’t always sufficient. If your startup’s profits aren’t going to be enough to fund your growth plans, you can always supplement your reserves with additional financing.

2. Secure a Business Loan

For most startups, securing a business loan is, perhaps, the easiest and most efficient way to scale upwards. With a variety of repayment terms available, you can customize your business loan to match your growth strategy and objectives.

Although you’ll need to gain approval from a lender in order to obtain a business loan, this can be easier than you think. If you’ve been operating successfully as a startup, this can be used to impress potential lenders, for example. To learn how to increase your chances of successfully obtaining a business loan, take a look at this blog post from advancepointcap.com and find out how to build up business credit now.

3. Sell Shares in Your Startup

If you need an injection of cash to fund your growth plans, selling shares in your business can be a viable option. Of course, you won’t be ready to float your company on the stock market just yet, which means private investors are a more realistic option.

Before you can do this, however, you’ll need to have your startup valued or calculate how much your business is worth yourself. Bear in mind – this is a tricky thing to do, so hiring a professional to value your startup can be a worthwhile investment.

Once you know what the commercial value of your business is, you can pitch your growth strategies to potential investors and offer them a share of your business. Although this can be an effective way of securing funding, it does mean that you’ll need to relinquish ownership of at least part of your business, so think carefully about whether this is something you’re prepared to do.

Are You Ready to Grow Your Business?

Securing funding is a critical element of scaling your business, but it isn’t the only thing to consider. From researching the market to hiring more staff, there are numerous aspects of company growth that you’ll need to address. With a comprehensive and strategic approach, however, you can ensure that scaling your business leads to long-term success.

3 Top Tips For Seeing Steady Growth In Your Business

Two of the focuses of my blog are Financial Literacy/Money and Business/Entrepreneurship. It’s great to have a good quarter or a good year, but how will you grow your business steadily over a series of years. The following contributed post discusses tips for steadily growing your business and is entitled, 3 Top Tips For Seeing Steady Growth In Your Business.

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The world of business truly is a competitive one; getting things right is essential in the key to succeeding. There are some fundamental building blocks when it comes to business that must have a place in your company should you want to see steady growth.

Today we are going to look closely at these three building blocks and why you should implement them into your company.

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The first of the three building blocks we are going to look at today is marketing. Getting your marketing department just right is going to be the first key to steady growth.

Marketing and advertising to most, just means getting flyers and emails out to as many people as possible. This form of advertising did used to work for businesses, but in today’s market, it just won’t cut it.

Marketing today, requires skill and precision. A good marketing team, designs a specific plan with the help of the sales team. Having these two departments work as single synergetic unit is essential in the marketing teams success.

The sales team will know what they want to sell, and who they want to sell it too. They pass this information on to the marketing team. Once the marketing team are armed with this information, they will then proceed to target the specific audience.

The Buyer Process

The buyer process is often referred to as the B2B or C2B buyer process is a vitrally underused system with a lot of business.

Effectively, the buyer process is how you interact and nurture a potential customer before they are even a customer. Using the buyer process correctly involves a lot of fingers, in a lot of pies.

Utilising tools like Social Growth Media and the correct use of blog posts and ebooks is essential. Video marketing and your website all play a huge part in the buyer process.

Out of these, the website possibly plays the largest part. It is said that your website need to impact the potential customer within the first 10 second. The initial impact must show the customer what you do, and tell them that you offer what they need.

Order Management Process

The order management process is the beating heart of every single business in existence. This process is basically the process from an order being placed, to that order arriving with the customer.

Getting this process right can really be amazing when it comes to the growth of a business. The order management process when used correctly, can introduce automation and a customer care that will be unrivalled by your competitors.

The order management process should always be partnered with an order management system (OMS) the OMS, helps to manage a customer and ensure that they are receiving the best possible service from ordering to receiving their order.

The OMS is updated by every person in the business and will successfully work in unison with any other system you have in place. Getting this right is the most important step in seeing constant growth with your business.