Use a Merchant Cash Advance to Move Your Business Forward in the New Year


Jeffrey Bumbales

If you’re a small business owner, you probably look at the new calendar year as a prime opportunity for setting new goals that will propel your business forward. Really, however, it’s always smart to learn about ways to advance your business, because there is no telling when a great opportunity will arise, and it’s smart to be prepared.

But with a new calendar year stretching before you, taking a look ahead and developing a growth strategy for 2015 can give you the motivation you need to continue existing best practices and explore new ones. Here are some ways you can move your business forward in 2015.

Focus on Increasing Market Share

This may mean attracting customers from competitors or reaching all-new customers. Increasing market share requires that you understand both your customers and your competitors. It means knowing what your business’s strengths are and what your competitors’ strengths are. To increase market share, you have to understand why customers buy from you and why they turn to competitors. You need to understand what competitive advantages you have, and you have to evaluate your marketing strategy. Is your sales team pulling its weight? Do you need to invest more heavily in marketing and advertising? Your goal should be developing a sustainable competitive advantage.

Pursue Operational Excellence Every Day

Operational excellence is part of what has made your business work, but it’s not a “once and done” phenomenon. Ensuring operational excellence every day gives you a foundation upon which you can reach further and pursue new growth initiatives. Core business excellence helps you discover unmet customer needs and untapped markets. By ensuring that operational excellence is at the heart of your business processes, you reduce risks when you pursue new opportunities, and maintain the discipline necessary to continue to satisfy customers while reaching out for new opportunities knowing you have the necessary reputation for excellence.

Diversify or Expand Your Products or Services

Diversification of products and services is one of the most important ways that small business owners expand their businesses and thrive. But diversification initiatives must be preceded by research into markets, costs, and the potential return on investment. There are multiple ways to diversify. For example, you could offer new products or services to your existing customers, or you could take existing products or services into new, untapped markets. Another diversification strategy is to develop new products for new markets. Diversification is smart for any business, as long as you don’t overextend yourself and lose sight of what made your business successful in the first place.

Consider a Merchant Cash Advance When You Need Working Capital Fast

Sometimes there is no predicting when an opportunity will come along, or in what form it will present itself. A competitor could go out of business, presenting the opportunity for you to purchase the equipment at a very attractive price. Space next to your existing business could open up, giving you the opportunity for expansion of your retail space. But sometimes you need working capital more quickly than banks are willing to respond. Merchant cash advances allow you to obtain working capital in less than 48 hours, so you can seize prime opportunities you might otherwise have to miss. With a merchant cash advance from Credibly, you can satisfy the advance through a small percentage of your daily transactions rather than with a set monthly payment, minimizing financial pain as you pursue new opportunities to expand your customer base and build sales volume.

As a small business owner, you naturally want to make 2015 your most successful year yet, and there are many different approaches to doing so. Whether you want to reach new markets, expand product and service offerings, build upon your base of operational excellence, or make use of a merchant cash advance to take advantage of new opportunities, start today with determination and the right attitude, and next year at this time you could be enjoying a whole new level of success.