Financing Business Growth: 4 Ways to Use a Business Cash Advance

2015-03-17

Jeffrey Bumbales

Business must grow and expand in multiple ways over time, and you have the power to guide your business into the future with healthy growth and increased profits sooner than you may think. In many cases, a business cash advance can be the ideal funding solution for these ventures.

 

New Products

Adding new products to the ones that you currently offer can be an effective way to attract new customers. At the same time, the offer of new products may also increase sales of your older ones. When you release new products, you can announce the launch by sending out press releases, which offer the advantage of garnering your company some free publicity without the cost of ad space.

Using a business cash advance to get the immediate money needed for the development of new products can result in ultimately getting a great deal of incoming cash on multiple levels. This can benefit your company by attracting new interest, drumming up sales, and much more.

 

Added Employees for More Services

Sometimes customers need more services than you currently offer, and adding services may mean hiring more employees who are skilled at cheerfully responding to customer needs. Depending on your situation, you may opt to use a temp agency to hire employees on a short-term basis. This is a good way to gauge the popularity of the new services and to determine actual staffing needs. A business cash advance can be an excellent funding option for any additional salaries.

The bottom line is, adding services can be a great way to make your company more attractive to old and new customers alike. This can be a really smart, and relatively inexpensive way to start a growth surge.

 

Must-Have Marketing

Marketing methods that are surefire ways to get your business noticed can ultimately do the best job of helping your company grow. Explore what is working for competitors in your field, then try to go several steps forward in another direction and target the same audience.

In order to hire the best marketing minds, you do need an influx of cash, and that is how business cash advances can help with your marketing plans. Ultimately, the goal is to gain new interest and first-time customers through effective marketing campaigns, and, at the same time, you re-establish your brand in front of your current customers.

 

Second Location

There is only so much growth that can be done from one central business location. Eventually the best way to grow is likely to be to establish a second location. Assess whether this option is right for your company, then set a budget for this big step.

A business cash advance can fit into plans for a second location by allowing you to immediately access funds that are sure to come your way from the revenue made at the new location. Also, when customers see that you have a second location, they may be reminded of your original locale, and will likely see your brand in an even more positive light because of this obvious sign of success.

 

Conclusion

As you explore the many ways that you may want to expand your company in the future, consider various funding options that can serve your bottom line very well on a short- and long-term basis. In many cases, a business cash advance is the best solution.