All it takes is a bright idea. At Synergy Merchant Services, we know that when providing Canadian small and medium-sized business owners with merchant cash advances, that it is only one small step in a much larger process. Attaining the appropriate funding to grow one’s business is of extreme importance. But what good is money without a plan for it?
Sometimes our clients insist that they don’t have any ideas as to what they would use the money for. Our experience has taught us that this is untrue. Now, it doesn’t mean that our clients aren’t telling the truth, it just means that they haven’t yet done the thinking required to properly make use of their merchant cash advances.
The main reason for this, we find, is because prior to participating in our program, these owners felt that getting the extra working capital necessary to get their plans of the ground wasn’t possible. Accruing interest rates, fixed repayment schedules and drops in credit ratings were all fears our clients once had.
But no more! Without those dilemmas to worry about with Synergy, all our customers need to concern themselves with is what to do with the money they will be receiving. As we’ve mentioned in a number of blogs before, a smart business plan is essential. It must be well thought out, including a number of steps.
One of the first, of course, is to determine exactly what type of customer base you would like to target. It’s important to make sure that you are catering your products and services to individuals who can truly use them. You’ll want to make sure that you demonstrate how your company can satisfy their needs time and time again.
If you are endeavoring to begin a new advertising campaign, you will want to be sure to have a call to action. Let your customers know that they will need to visit your store for a full experience. Let them know exactly what it is you offer and how it can benefit them. Using your money wisely will only make you more in return.
Recalls one of our clients: “I remember when I first got my advance, I thought I would just hold on to the money in the event of an emergency. That was a big mistake. I realized that I could be making more money right away. I bought a bunch of new inventory and had a big sale. I got so many new customers, I couldn’t believe it!”
As always, our licensed funding specialists are here to speak to you about your bright ideas. Putting them into action starts with getting yourself a free quote with no obligation to join our program. You’ll be glad you did. Make getting a cash advance the first step in your plan and watch the rest of it be carried out!