We’re happy to announce that today Merchant Advisor’s 13th birthday. Since 2003, we’ve been providing quick access to working capital with alternative small business financing via our business cash advance solutions for small businesses to grow, and have delivered billions of dollars in working capital across hundreds of unique industries, including automotive, restaurants, manufacturing, health care and transportation, just to name a few.
We have shortlisted few ways in which small businesses like you can get the needed funding provided by Merchant Advisors to grow and succeed.
Introduce New Products/Services: If you’re in retail business and focused on mobile services, make it a “one stop shop” by expanding your services to include gadgets and repairs. This not only gets you more customers but also more brings in more money.
Open New Locations: Opening new locations in different regions can facilitate your brand image and customer reach. A successful event planning business if seeing steady growth at its flagship locality, opening up a new office in a different region can help. It’s vital to ensure you go for new location when your flagship location is showing sound success.
Offer Giveaways: Offering promotional giveaways and new offerings will help in brand building and customer retention. If you’re in the printing business, offer free samples first. If you’re a new café in town, offer complementary items. People would love to give it a try that’s free or discounted, and if they like your product or service, they last for a lifetime.
Get Business License: Getting business license and attaching your entity to a bigger licensing partner offer the opportunity to boost earnings and customer reach largely.
Think Of Franchising. Do you want to see yourself to be the next McDonalds or Versace? If your small business is seeing a rapid success, and you’ve already located to many locations, think of franchising is a good next step. Before going for franchising, make sure you considered the latest industry trends and have detailed business strategy and calculation.
Advertise Business Online. The online advertisement allows businesses to reach significantly more prospects than other advertising media at a fraction of the cost. A good starting point is to assess where your potential customers spend time. One best approach in online detriment is Google Advertisement. It allows your business ads to target potential customers that are interested in your business products/services locally, nationally and internationally.
Use Social media To Your Advantage. Engaging with your potential clients using social media platforms can be of great help for businesses. Promoting business on social media platforms like Facebook Pages, Twitter Handle, Google Plus and Pinterest boards allow your business to reach out to more. The paid marketing technique helps your business’ products/services to reach to a larger audience and potentially drive more prospects.
Offer Incentives to Workforce. The success of every small business relies on its workforce. By investing in them in form of incentives or bonuses help preserve staff retention and loyalty and make your brand attractive to future employees. The incentives can be some kind of professional memberships, fitness memberships or a bonus payment for the employee’s monthly performance. Such little incentives will motivate staff and incentivize them to work even harder.
Invest In Technology. Technology changes swiftly, so upgrading to the latest will likely help your business grow. Investing in upgrading equipment, or a new POS system can increase business efficiency and performance.
Secure Your Business: Investing in data safety programs or cyber insurances will help a lot and secure the business image. Cyber attacks and data infringes are usual problem even for the high-tech businesses. To make your business and customers’ data safe, it’s significant to invest in online safety programs and secured your business.
Keep Doors Open Longer. Working a little longer than usual working hours will also help. If you run a store business, this can be done with extra support from employees by expanding your store working hours. This mean your store will open for an additional hour and closed each night later. Such extra working hours helps in branding building and more customers reach.