Funding – every business needs it, whether to bring your ideas to fruition or to capture fast moving opportunities. Yet the need for money is often an emotional subject. Here are 5 indicators to take a rational approach to ensure your next level success.
This may be a pivotal sign you will need to increase production, manpower, productivity, etc. Do not wait! This is a great time to investigate options so as to give you time to secure optimum funding based on terms, rates and limits.
This is an ideal time to investigate and secure capital to help fund your ambitions of growth.
Just like you would make preparations to cut cost based on bad news, this is a great time if there will be a significant upswing because of new regulations, laws or product improvements.
Sometimes a business hits a temporary plateau. As you do your research to determine why, often times a well-executed marketing campaign or a business consultant can help you break that barrier, this may be a great way to pay for it, so you can reap the benefits.
Your business is doing well, so you have determined it’s time to expand. Why self-fund? With interest rates as low as they are, why not use O.P.M. (Other People’s Money)? Your return should fairly outweigh the cost of funds.
These five indicators are designed to keep you proactive and not reactive, because when you are proactive you are in charge, when you are reactive the power shifts to someone else!
Author: Andre’ Fox Wilson Sr. “Money Man”, Altima Business Solutions “Empowering You to Focus”