On the Synergy Merchant Services Blog, it’s quite the normal occurrence to read about the various ways in which entrepreneurs can invest in their businesses. It goes without saying that we believe strongly that putting money into your business is the only way to ensure that it is making even more money in return.
Dawud Miracle, a blog writer in his own right, shares our sentiments as he often provides advice of his own to small business owners looking to grow. On his website, he insists that business owners invest more than just time into their companies if they wish to see any substantial growth.
He believes that if owners do not invest in their own businesses, it should not be expected for customers to invest in them either. Surprisingly, Miracle has found that many entrepreneurs are not exactly willing to put money into advertising their own brands. Long-term plans are necessary, he says, and this part of business-building is often overlooked.
Writes Miracle about the hesitant business owner: “Sure, they might buy productivity or marketing products or hire out projects like website design. But they seldom have a longer-term plan beyond the project scope. And seldom do they consider an ongoing marketing or promotion budget for the growth of their business.”
His response? You don’t have to spend a lot of money to invest in yourself. But it is imperative that entrepreneurs utilize whatever budget they have to help push their companies. It is important to spend money on your company or no one else will! At Synergy, we often discuss ideas with our clients about what they will use their merchant cash advances for.
Of course, there are numerous ways to use money to help grow businesses. Advertising is one of the most popular. Renovations, expansion, buying new equipment and buying new inventory are also popular choices. Are you investing in your business? What are you doing to ensure that others spend their money on you?
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.”
Contact one of our licensed funding specialists today to discuss ways in which Synergy’s merchant cash advance program can help you invest in your business. Join the many small to medium-sized business owners across Canada who are discovering that the first step to increased profits is just a phone call away.