Is lack of funds stopping you from marketing your business?

//Is lack of funds stopping you from marketing your business?

Is lack of funds stopping you from marketing your business?

Lack of capital is a big reason many business owners do not perform the necessary marketing and advertising they need to grow fast. In addition, without marketing your profits suffer so setting up a marketing expenditures account is something you need to do. However, before you do so, create a comprehensive business plan so you know how much money you will need. EVEN IF YOU ARE ALREADY IN BUSINESS.

Then every sale you make you should put a percentage of the monies into your marketing account. I suggest at least 10% but whatever is comfortable for you and will satisfy your business plan requirements. This way when something great comes along you have the necessary funds to pay for it without doing a face palm.

Look to local banks that offer SBA loans. The SBA has programs of all sizes. They guarantee, to a certain percentage, the payback to the bank. This way the bank is not at too much risk when they lend to you. For more information, you should visit sba.gov.

In addition to a standard loan to fund your business there is also investors, friends and family, crowd funding, private investors and loan companies, etc. Just make sure you stay away from your local loan shark. 

What types of funding have you experiences? Let us know below!

2017-12-22T15:54:01-04:00 0 Comments

About the Author:

My mission is to help business owners find their prospects and turn them into customers by using proven and effective (traditional and web) marketing and advertising. In addition, I evaluate companies’ current marketing and advertising and show them alternative, cost effective solutions that could yield a higher return.

Leave A Comment