Running a small business these days can feel like shoveling water back into the ocean with a fork. As the owner, you likely wear a lot of hats as I have done over the years and still do! No matter what prestigious university you went to 25 years ago and how many times you have been successful in the past, we are only as good as RIGHT NOW. Getting your hands dirty when starting a new venture EVEN for an old dog is essential. Nobody is “above” doing anything early on. From your CEO, CTO to the lead programmer, each person must be on board with doing everything from preparing and delivering the most successful presentations and closing deals, to taking out the garbage and making sure the sales team has enough coffee. Studies show that if during these early stages in a company’s development founders, executives, managers and employees are of the mindset, they have a 40% BETTER chance of making it to the first year than startups that did not conscientiously adopt such a scheme.
So how do you as an owner or manager ensure your partners and executives are adopting this crucial mindset? During the early phases of planning, actively delegate to people certain jobs that do not normally go with their title. For example, when planning what is expected of your CTO, you might also add that he or she oversee checking the general inbox for the corporate “info@” email address, or be in charge of getting office keys made for employees in need. These jobs may seem trivial, but when each executive, or manager has these additional jobs assigned initially (including CEO/Founder types) it creates an environment at the workplace that supports team work and non-compartmentalization.
As time wears on and the business grows, new hires like an office manager or secretary will be able to take on more and more of those jobs but only after each person has pulled themselves up by their bootstraps and made it possible. This creates a sense of ownership regardless of the executive or manager’s ownership status. With your business now coming up on a full year in business you are entering some rarified air of Startups that pass the 1 year point. Statistics show that if your startup is still growing at 1 year, your chances of succeeding long term are drastically increased.
By this time, you will probably have steady monthly revenue numbers but may be month to month meeting payroll and fixed expenses like rent, utilities and software costs. This makes it difficult to expand your business significantly unless you can get a large sum of money strictly set aside for expanding. Getting a business loan in the current economic client is close to impossible due to low interest rates and a post crisis economic climate that has basically put an end to normalized business lending.
That is where Tigerlyfe Capital Solutions™ comes in to your strategy. Tigerlyfe specializes in alternative business financing that is business revenue, not credit driven. They offer a short term, high value loan that is easy to apply and qualify for, with money wired to your business account within 24 hours of getting approved. By the time you have reached this point in your small businesses journey you could be grossing $10,000 – $500,000 per month. For example, if your business earns the qualifying minimum of $10,000 per month gross revenue, you will most likely qualify for a $10,000 business cash advance with payback terms that can stretch up to 12 months with daily or weekly payments you barely feel due to the frequency and small amount. In the meantime, you take the $10,000 and invest into growth so that by the time you pay back your $10k loan your business now generates $25,000 per month and can easily get a new loan for that amount.
Rinse, Repeat, Grow Your Business!
Written By Nathaniel A. Kingsley, All Rights Reserved 2016