Hey, business owners. We are pretty sure that you didn’t decide one day to open a business just to see what it was like to own one. Any smart entrepreneur formulates an idea, does his or her market research and accumulates a budget to put the plan into action to run a successful company. Of course, investing time into your business is one thing…but are you investing enough money to make it all worth your time?
Dawud Miracle is a business growth advisor. His website, Dmiracle.com, serves as his online help desk to small and mid-sized business owners everywhere looking to grow their companies. Miracle insists that these owners properly invest money into their businesses to truly allow for them to flourish in the marketplace.
As always, Synergy Merchant Services strongly recommends that entrepreneurs invest money into their businesses for such things as renovations, inventory, equipment, advertising or even paying suppliers. Over the past few years, our merchant funding program has been very successful in helping small and mid-sized business owners take their companies to the next level.
Providing that much needed extra working capital has done wonders for those who truly know how to invest the money into their businesses. Miracle, too, has worked with hundreds of small business owners. Referring specifically to those businesses that generate less that $150,00 a year, Miracle notes how amazed he is to discover how many of them are not willing to invest in their own companies.
The problem, he says, lies in the fact that many of them do not have long term plans for growth. Rarely do the owners he works with consider ongoing marketing or promotional plans and the budgets required to make them work. To grow your business, he insists, planning with a budget to market and promote is essential.
Asks Miracle: “What gives? How can you grow a business if you’re unwilling to promote it? How can you increase your revenue if you don’t invest some dollars into marketing? I’m not talking about thousands upon thousands of dollars each month. I’m talking a few hundred or thousand or whatever fits your budget.”
Essentially, Miracle – just as we do, here at Synergy – believes that if a business owner is not willing to invest in his or her business, then customers will feel the same way. As he queries, if you are not willing to spend money promoting your products or services, why would anyone else spend money on them?
Of course, Miracle offers his services to those who may need to talk about affordable strategies to promoting their businesses. Investing in your business is basically mandatory if you want to be successful. Naturally, Synergy also offers our services to help businesses grow. We look forward to speaking to you soon about how we can help you get the money you need to invest in your business.