It is not uncommon for people to overthink things when presented with a dilemma. To work problems out, people sometimes weigh the pros and cons and wrack their brains thinking of all the possible outcomes that may result from taking a step in a certain direction.
It’s fair to say, however, that if one never takes a step in any direction, he or she will get nowhere! For business owners across Canada, overthinking is done quite often. Any business decision made is an important one as running a business can be one of the most stressful jobs around.
After all, as a business owner, you are the one in control. You are the one who makes the decisions. And you’re also the one who will have to take the fall if things don’t work out. Perhaps then, it only makes sense to keep things simple. Instead of overthinking things, maybe taking the simplest route is the best way to go sometimes.
Take, for example, the process of getting money. Our clients very often tell us about the many different factors they had to consider when first going to the bank to secure loans. What should they put up for collateral? Can they afford the interest rates? Are the monthly payments too high? Will this earn me more money anyway?
At Synergy Merchant Services, we like to keep things simple. Instead of worrying about all of these factors, we ask our clients to simply consider selling some of their future credit and debit transactions. By doing so, they don’t need to worry about collateral, interest rates or monthly payments.
What we ask them to do instead is consider the ways in which they can use their merchant cash advances to make more money in return. Our experience has shown us that renovations, advertising, expansion and buying new inventory are among the most popular choices for business growth once extra working capital is attained.
But then again, some business owners go through quite an emotional struggle trying to come up with ways to grow their businesses. We approach this decision with much the same attitude…keep it simple! In tomorrow’s blog, we’ll take a look at some simple ways to grow your business.