How To Get Much Needed Capital Into Your Business Without Applying For A Small Business Loan!
Do you know anybody (meaning) another cash starved small business and or service provider, that’s ever applied for a conventional (bank) small business loan? If so, you already know, it’s not fun, correct?
Entrepreneur there can be quite a few hoops they expect you to jump through before they release the cash. but even beyond that, applying for a conventional small business loan can be a proverbial back breaker, for a fairly new (translated) shaky start up small business.
But ‘what” if you actually found a more creative, less stressful, not to mention, less expensive way to get the much needed capital into your business (legally!) without having to bother with applying for a conventional small business loan!
Would that be worth reading further?……
How And Where To Get The Much Needed Capital Into Your Business Without Applying For a time Consuming Small Business Loan!
For this particular hypothetical example; let’s suppose you run your typical local corner (and or) mini strip mall located convenience store. Obviously not your proto typical candidate for a conventional small business loan, correct? Agreed!
Nevertheless, you still need the money, with extremely generous terms . So “who” or where do you turn to for financing? Why not turn to one of your most trusted and credible long term vendors! Huh?
Think about it for a second! First of all, they already know you’re an extremely dependable customer, right? And you’ve got a proven track record of paying your bills and short term receivables on time too,correct? It’s makes perfect (marketing) sense for you to at least approach them with this particular financing idea.
Here’s the basic structure and context. You’d like them (instead) of spending X amount of dollars on their traditional advertising techniques, you want them instead to invest (part) of that money with you.
Let’s suppose they sell you the sugar that goes into your customers coffee, that X amount of your customers buy each day. And in their tea and homemade lemonade that you sell (like hotcakes) during the summer!
You’d like them to invest rather small (conservatively) initially, so you both can test and tweak if necessary. Suppose they invest $100 dollars cash initially (or X) for the first seven business days, just to get an idea of “how” your marketing concept might initially work.
Here’s ‘what” you could (potentially) do with that $100 dollars in cash. You’ll create “grab bag” specials aimed specifically at your daily “coffee club” drinkers. Every person that buys a (either) a large cup of coffee or cocoa (in the winter time) or a large lemonade or large ice tea in the summertime, they get to reach into your “instant winner” grab bag!
And your various instant cool prizes might include (but not be) limited to, your next five (or X number) of large cups of coffee, tea or cocoa for just $.39 cents each (or X!) Or one large coffee and (either) two bagels with or without cream cheese or any two donuts of their choice! For X! Meaning -some totally ridiculously low price, in order to stimulate positive word of mouth and more repeat buying!
Or your next ten large cups of X for just $2.00 dollars! Do you really see ‘what’s” really happening here? They’re being creatively bribed to buy a large cup of something!
The point is, you create any number of really cool prizes, until you max out the $100 dollars in (or X amount of dollars) in cash!
Your customers will love absolutely love it! But the question begs asking; “why’ would your (or any vendor) want to finance this type of creative marketing strategy? Two (incredibly simple reasons:
First; instead of simply taking their chances with outrageously expensive traditional advertising methods, they could (instead) invest their hard earned cash into a proven successful business model.
Second; they’ll sell more sugar (or whatever), because you’ll buy more, because your customers will be spending more money with you! And that’s ‘how” you (entrepreneur) get the much needed capital inside your business, without the need of applying for a conventional, time consuming small business loan!
Please list at least two simple spin off concepts (in the comments section below) that you can apply to your business, product or service in the next 30 days or less!
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