Archive for cash flow

Oct
04

How to Market Your Small Business

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Already on Target with a Small Business Loan?



Time to Implement Marketing

Marketing a small business is not tough to do with a small business loan, if you know how.  Here are some simple tips on how to maximize your marketing efforts.

Referrals

Referrals are the number one way to build a business.  Expand your client list by giving customers incentives to bring in their friends.  If you are a clothing boutique, then let current customers know they will receive a discount on purchases.  If you are a golf course, then let repeat clients know you will reduce course fees in exchange for sending new customers your way.   As long as you offer an incentive to your present clients, then referrals work no matter what field you are in.

Social Media

Social media marketing will give you the biggest bang for your buck.  You will attain the most customers in a brief amount of time for a reasonable price.  It gives you the opportunity to interact with potential and returning customers on a mass level that was non-existent before.  Many small businesses have seen a significant growth through using social media.

Volunteer

Volunteering is a good way to get the word out about your business.  For instance, if you are a printing company just starting out, and there is a local charity event occurring, then volunteer your services to print out the invitations and programs.  In exchange, receive name recognition throughout the event.  This  is a great way to show other business leaders who need your services that you exist.  It also exhibits your product and services.

If your small business is in the process of expanding and needs additional cash flow, talk to one of our experts today!

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Jul
28

How to Run a Small Business Smoothly

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With so many people expected to work longer hours and complete more work for less, it is no wonder small businesses have been popping up on the radar more often than in the past.  It is a direct result of the recession.  It has forced people to find alternative means to earning money outside of the traditional role of working for someone else.  But what is the key to running a successful business?  I found some common answers to this question regardless of industry.  And here is a basic overview of my discoveries.

Learn How to Delegate

You cannot do it all on your own.  It is impossible.  So you have to let go of that control and delegate tasks to your employees.  It sounds simple, but some business owners find this difficult to grasp.  For it is their company.  Therefore, if a mistake happens it is their name, reputation, and profits on the line.  However, you hired your employees for a reason.  They have the skills to execute tasks as you would like.  Thus, do not be afraid to pass along responsibility to them.  They will make you proud.

Narrow Business Focus

When businesses start offering too many different tasks, then the quality of service seems to drop.  Try to remain focused on what you offer.  Concentrate on one or a few things that your company does very well, and market those services first.  There is always time to expand later on.

Running a business is not easy, but it is possible to attain outstanding results.  Just keep these two tips in mind.  Find out what else has worked for other business owners in your industry.  And if funding gets tight, be sure to talk to a small business loan expert to cover operating costs keeping the working capital moving.

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Jul
14

Why Working Capital is Essential

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Working capital is a necessary part of developing your business.  But too many small businesses get caught in a bind when they don’t plan for growth or expansion expenses.  Here is a breakdown of how working capital comes into play and why you need to plan on it if you wish to run a successful business.

New Ideas Need Money

Imagine developing a new product launching your business to the next level.  When this occurs, there are many costs involved.  You need to pay the people that are working on it, cover project materials, any legal filings necessary, testing expenses, and more.  In addition, once the product is completed, there is marketing, social networking, promotions, advertising needed to be implemented.  There is cost involved in every aspect of this new product and/or idea.  And this is where small business owners get stuck.  They do not comprehend the full picture.  They think great we have an idea, but since we did not financially plan on the costs involved, we are just going to sit on this opportunity.  There are many problems with this way of thinking.  For while you are waiting, another company could swipe the idea before you.  Technology could change causing the research and development to occur from the beginning again.  Sitting and waiting only wastes money and time.  Both of which you do not have.

To make sure none of this occurs, talk to a small business loan professional about how to attain working capital.  Find out what your options are and don’t get caught in a financial trap.  It only hurts your small business and you.  You need to jump on the opportunity to expand your business when the iron is hot.  Otherwise, it may be too late.

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