Instant Business Capital Without Borrowing
Price: USD 8.99
433 used & new available from USD 4.30
Last week I was conducting an exploratory session with a new business owner. One of the topics that came up was how tough the credit crunch has made it for businesses to get financing. And that got me thinking…
For more than two years I’ve been championing the concept of growth through leveraging marketing assets. Assets that already exist within companies. This approach frees the business owner from worries that come from having to ‘beg’ a banker for money. And there’s no need to give up a portion of your company to venture capitalists either.
If you have an existing business, the easiest way to increase your operating capital isn’t to go get more loans. Business finance should be your last option. Most people balk at this thought. This is a mindset problem. I know. I worked in banking for ten years. The idea of leveraging marketing assets never occurs to business people. They have been conditioned to think the money must come from someone else.
Yes, and that’s the way bankers and finance companies want you to think. Imagine if every business on earth suddenly turned their focus to internal growth through improved marketing. The bankers and business financiers would go crazy. They’d call you a fool. To them, the one source of ’sure money’ is them.
Lets be honest. If they didn’t take this approach they’d be out of a job. Fewer businesses would borrow money. So they use propaganda to convince the entire nation that the ‘normal’ way of growing is to go into debt. This is a win/lose proposition.
Sure, if you’re just starting out and have zero operating capital and have no relationships of any kind with vendors, clients, peers, or others you may need to consider financing. But still, it isn’t the first option. A better option is to leverage marketing concepts that don’t cost money. Or that cost very little money.
One of the ideas I gave to the business owner I was speaking about, is to leverage relationships with other business owners and decision makers. These are folks who are in a position to generate immediate sales for his company.
This is just one idea. There are hundreds of other ways to increase sales and operating capital through marketing leverage. None of which are affected in the least by the credit crunch. And leveraging marketing assets frees you from feeling like some second rate citizen begging for money.
So if you’re thinking of borrowing business capital, put the idea on the back burner for now. Instead take a look and determine if your company can immediately leverage its marketing assets for increased capital without borrowing. It’s more of a sure bet than hoping to get money from a banker. That’s advice coming from a former banker.