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What Are Your Options To Fund a Business?

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StrategyDriven Managing Your Finances Article | What Are Your Options To Fund a Business?If you are thinking about starting a new business, there are a lot of factors that you need to consider. One of the most important factors of how you are going to fund your business. Without capital for your business, it doesn’t matter what else you have for your products and services. You will not be able to pay for inventory, purchase supplies, or pay for marketing. Therefore, you need to take a closer look at the options you have available for raising capital. What are a few of the top options you have at your disposal?

You Can Start by Bootstrapping Your Company

A lot of people get their businesses off the ground through something called bootstrapping. This is the process of taking your savings and using it to get your business through the early stages. The biggest benefit of dipping into your own personal savings is that you will not have to worry about paying anyone back. On the other hand, you probably only have so much money in your savings account. What are you going to do when this money runs out? That is why you need to learn more about some of the other options that are available.

You Can Ask for Help from Family and Friends

If you are looking for a way to raise money for your business, you may also want to consider asking your family members and friends for help. In a lot of cases, they could be willing to offer you a loan without interest. Before you think about taking out loans that have interest attached to them, you should reach out to family members and friends to see if they have any options available. In order for you to run a successful business, you have to learn how to take vantage of your connections. The first connections you need to lean on are your family members and friends. They might even be willing to simply give you money in exchange for a souvenir or prop from your company, such as a coffee cup or a T-shirt.

You Can Look at Venture Capital Options

Another option you might want to consider if you are thinking about ways to raise capital for your company is through something called venture capital, such as Patrick Chung of Xfund. The idea behind venture capital is that you pitch your business and how it works to a board that has a lot of money to spend. Then, if they believe in the premise of your company, they will give you the money they are looking for in exchange for a small percentage of equity in your company. You ought also to have access to experienced business owners and leaders who can provide you with the guidance you need to take your business to meet heights. If you are looking for funding for your business in addition to experts who can help you, this could be an option that you would like to consider for your company as well.

You Can Give Crowdfunding a Try 

You may also want to try something cold Crowdfunding. Crowdfunding is the process of raising small amounts of money from a lot of people. For example, you may want to use a website that can help spread the word about your business. Then, by explaining what your company does, you may have people who are willing to offer you small donations. If you are willing to offer a small souvenir, such as a keychain, you may be able to collect donations for more people while still turning a profit on that small keychain. Consider using crowdfunding to help you raise money.

You Can Apply for a Business Loan

Finally, you can also go to the convention in route, which is applying for a loan from a small business company. Keep in mind that you are going to have to pay this loan back with interest. You also need to convince the lender that your business is going to be a success. If you do not have any other options, you may want to consider applying for a small business loan from a bank or credit union.

Raise Money for Your Business

These are a few of the many options you have available if you are trying to raise money for a business. You need to think carefully about where the money for your business is going to come from. If you do not have enough capital to market and develop your products and services, you will not be able to meet the needs of your customers. Fortunately, there are professionals who can help your business raise the money it needs. If you work with the pros, you can focus on the more exciting parts of your company.

Business, Investment, and Charity

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StrategyDriven Managing Your Finances Article | Business, Investment, and CharityThe joy of any business is the Return on Investments (ROI). Also, the money you will accrue from the investment can go far in doing great charity in society today. However, before starting a business or investing, you might want to ask yourself how viable the business or investment is. That is when you should start thinking about a community-oriented charitable project. Therefore, if you are lucky enough to meet someone like Fred Baerenz, you might not want to miss the chance to pick his brain on how he seamlessly gel business, investment, and charity. By the end of the conversation, you may be an idea away from being wealthy as you desire.

What should you look for in a business investment? 

Business and investment are not easy, but you will be smiling your way to the bank once you do it right. It is practical to know that you will not always get it right as desired, but the journey is worth the cost. Before considering a business investment, there are many factors to consider. The world of business is dynamic and tying it with investment makes it even more dynamic. However, with the right team and tools of the trade, you will scale high in business as an investment. The research on the market will be a good place to start. The opportunity and niche presented should be sustainable enough at last for your capital.

Charity investment

Business flourishment will bring activities such as Corporate Social Responsibility (CSR). Everyone has responsibility around the community of their establishment, if not the world. Considering activities such as children’s funds and supporting climate change are just a few of the CSR charity investments one might consider. Building a sustainable CSR goes hand in hand with building the business. Charity investment comes with its share of challenges and benefits.

In conclusion, the desire to build wealth is admirable and takes too much patience and strategy. Either through business or investment, success is a journey that takes resilience. The moment you will find yourself in magazines such as Forbes and your name all over Wall Street, you might want to consider joining AOG Wealth Management to secure your future. The billionaires club has its privileges but maintaining the status is what matters. Therefore, learning how to stay on top of your business, investment, and charity is important in any cooperate world.

Ready To Launch Your Startup? Here’s How To Acquire Enough Capital

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StrategyDriven Starting Your Business Article | Ready To Launch Your Startup? Here's How To Acquire Enough CapitalEntrepreneurs have a dream. The path to success is more than a standout idea. It’s also centered around finding the right encouragement to make it happen. With a team of financial backers (and a great deal of hard work), a business has the potential to produce, promote and profit. Before hitting stores with an idea or expanding a venture, ensure that the bank account is flush enough to make promises happen. To garner funds to get your company off the ground, be prepared to put in a lot of effort. The following are four key points to obtaining enough financial support.

Rely on Expert Advice

Before speaking with possible investors, discuss ideas with a professional. Financial experts such as Charles McKenna Rial are aware of best practices and available lenders. Sit down, and ask about how you should proceed. Prepare a list of questions, discuss multiple options and rehearse your pitches. Also, rely on guidance for which avenues are more lucrative for you. These specialists could put you on a solid path to gaining fiscal strength.

During the meeting, listen to your advisor. Be clear about how much funding you currently have. If your product is already in a small market, ask about how to seek additional patronage. It’s important to understand the risks associated with the possible choices. For instance, owners may choose to take out a credit card to cover costs; this decision, however, impacts credit scores. Failure to pay bills on time could lower that number. Other options might avoid harming personal credit history. Be clear about what risks you are willing to take.

Prepare a Researched Prospectus

Capitalists don’t just throw money at companies. These experts require information to validate an investment. Spend time writing a business plan. Then, share this document with interested parties. This isn’t a time for less is more. Use this opportunity to showcase your knowledge and potential.

With the advisor’s assistance, tailor your proposal to suit the format and demands of investors. Begin with your company motto and describe how you created the idea and put it into practice. Note who is in charge, who has made the decisions and why these key ideas were adopted. Follow this up with detailed numbers and research about your merchandise and the marketplace. The following are essential to validate your request:

  • How much profit have you already earned?
  • How much does it cost to produce the item or items?
  • How do you know there is a market (or expandable market) for this concept?
  • Who is your competition?
  • Who is likely to purchase the product?
  • Why is your product different and better?

For each of these points, be as specific as possible. Provide data. Visual graphs and accounting figures are also a must. Send out copies of the report before the meeting occurs.

Remain Confident and Practical

The write-up is the first step. That paper opens the door. Your presentation sells the idea. Investors desire entrepreneurs to prove that they have the guts, common sense and dedication to follow through with the plan. Be prepared to pitch the concept and interact with capitalists, demonstrating confidence, honesty and knowledge. Practice your delivery, avoiding hesitations and showing energy. Anticipate concerns and questions, and be ready to respond with answers.

During a meeting, don’t hesitate. Nervousness could come across as weaknesses. It’s important to remain calm, professional and humble. How does this happen? Have faith that the product is going to make it, but be open to considering opinions and potential small changes. Also, focus on taking reasonable steps. Shooting too high too quickly isn’t levelheaded.

Consider Multiple Financial Avenues

Remember that there is more than one path to finding funds. Your advisor is likely to introduce several possibilities. You may combine several of them to find enough money. Crowdsourcing, for example, has become popular. Post a request for donations on an online site. People from all over the world have the ability to give what they can. In addition, grants and contests are avenues that don’t require payments. Search for various programs for which your may qualify.

For larger amounts, you may require aid that demands payback. Angel investors are people who have available capital and are accredited. They look for prospective operations that could make them funds. These business leaders supply backing for a hold or equity in the company. Venture capitalists are another possibility. Unlike angels, this donation comes from a person or firm that uses funding from corporations or pensions.

Apply for bank business loans. Interest applies, so expect to be able to make not only what you owe but a bit more.

Economic success begins with a concept fostered with financial support. Your startup deserves a fighting chance. Lay a solid foundation by working with specialists to craft a thorough prospectus and convince lenders you are a risk worth taking.

What is Productivity Software?

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StrategyDriven Managing Your People Article | What is Productivity Software?Productivity is something that we could all use more of, with the right productivity software you can really amp up your production and make a big difference in the way our world works. Xtivity is a great productivity software that can make a big difference in your overall business.

What is Productivity Software?

Productivity software was designed to help make every day productivity greater and to help make a difference in the way that you do things around any worksite or business. Productivity software can be for things like helping to manage products, helping to manage purchasing, managing payroll and more.

It can also help with MRO. MRO stands for maintenance, repair and operations and a software like Xtivity is a great option that can truly help you to streamline your every day. Making sure that you are doing all you can to up your productivity, working to figure out exactly what works for you is a must.

Productivity software is not something that you absolutely have to have but it can make a big difference in your day to day and in how you go about doing menial tasks and completing your work.

Do You Need Productivity Software?

Not all companies are going to need a huge range of productivity software, but most are going to be able to benefit from them in some way.  Productivity software can help you to get the right overall boost in operations and can give you the ability to do what you need to do and to focus on other things and to go ahead and focus on other options and on other areas of concern. Productivity software is something that anyone can use, that can work well with any business and that can help make any business run better and run easier overall.

There are tons of different productivity software options out there and you truly can find a great range of different options that are going to work for you and your company. With the help of great productivity software you can refocus your efforts, get the right software for your needs, and make sure that there is not any difficulty in the overall use of this software.

If you feel that you might be falling behind because you are focusing so much on things that could be automated, productivity software is a good choice that can make a difference in your day to day work and in how you do things overall.

Determining Your Objectives In Digital Marketing

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StrategyDriven Online Marketing and Website Development Article | Determining Your Objectives In Digital MarketingThe world of digital marketing is full of terms, some that may sound completely alien to those who are not used to the jargon of this world (such as, for example, KPI). Others may come from everyday language. If you personally saw a phrase like “SEO Austin,” you would know right away that it has something to do with digital marketing. However, you may think everyone knows what they mean, but many people don’t really understand it completely. This can lead not only to misunderstandings in conversation, but also totally wrong communication policies. That is why today, we want to talk about the differences between the concepts of objectives, strategy and tactics.

Quantitative Objectives

The first thing to be clear about is the objectives. There are two main types of objectives; the first is ‘quantitative objectives.’ Quantitative objectives are always measurable since, as their name indicates, they are set in quantities.

  • Increase our blog traffic by 20%
  • Increase web traffic by 100,000 visits per month
  • Get 1000 followers per month on Twitter
  • Make 200 monthly conversions
  • Increase 25% in annual sales

Qualitative Objectives

Qualitative objectives are more subjective and therefore more complicated to measure. Whenever possible, set quantitative objectives (since they are easier to measure) and use qualitative ones in a complementary way.

For example:

  • Improve public perception of our brand
  • Increase brand awareness on social media
  • Improve the image of our product or service

Establishing Objectives

It is essential, to establish our objectives, to have a great knowledge of your business and its environment (the market, the potential client, and the competition). For this, it is essential to carry out an internal and external analysis of strengths, weaknesses, opportunities, and threats (SWOT analysis).

Smart Goals

These objectives should be divided into small intermediate goals, which are known as SMART goals.

Specific: clear and concrete, all members of the team must understand and be on the same page.

Measurable: it has to be measurable, even qualitative ones. If it can’t be measured, it can’t be reached.

Achievable: if we set ourselves an unreachable goal, the team may fall into frustration.

Realistic: in addition to being achievable, it must be realistic with the means at your disposal and considering the current situation of your company.

Timely (limited in time): you have to set a deadline to reach them.

For example, if you want to reach 30,000 visits to your store per year, they could be divided into 10,000 each quarter. This makes it easier to evaluate the results and maintain or correct the course if necessary.

Conclusion

When you work with SEO and marketing professionals like MOTOZA Digital Marketing, objectives are essential to control and measure both strategy and tactical actions and allow you to achieve larger goals. For this reason, it is vital to define short, medium, and long-term objectives.