How many businesses do you know of that just seem to languish for years without growing? The owner continues to put blood, sweat and tears into a venture that doesn’t seem to grow? This is common everywhere from retail to manufacturing to the restaurant business. One key driver for this stagnation is scale. When starting small, many businesses tend to stay small until one of a few things happen – either they grow organically, which can take years, they go out of business, or they stay as-is. Which type of business outcome are you looking for?
Scale is often what makes all the difference. If you are competing with several other small businesses (and even large businesses), how do you get the edge to be able to have a staff doing the legwork for you while you go out and secure large clients and think strategically? Ever hear the expression about cloning yourself? It’s a common problem for small business owners. If only you had a staff and infrastructure to take the business to the next level and be able to delegate what you’re doing now. There is a solution.
How to Achieve Scale in Your Business
One of the ways many businesses propel themselves to the next level is through use of a business line of credit. Having quick and easy access to a larger funding base can make all the difference in the world. Struggling with trying to juggle a full time job with your side gig? Well, that’s an option to allow you to go full time. Struggling with relying on small and unreliable equipment? Funding can allow you to purchase the equipment and scale you need to compete with other firms – from both a volume and efficiency standpoint. Struggling with attracting clients who want to meet at your office only to find you’re working out of your basement? Funding and secure office space for you and staff. The opportunities are limitless, it really comes down to how to most efficiently put to use credit that can be provided by the opportunity.
Do you have any experience with relying on a Business Line of Credit?
We’d love to hear about it.