Keys to Expanding Your Business Markets With Cash Advances
Cash Advances For Your Business Expansion
Prepared with business cash advances from US Business Finance Corp, entrepreneurs can quickly respond to opportunities calling for operating capital. As Seneca said, “Luck is what happens when preparation meets opportunity”. Businesses expand their markets best by having the ability to perceive market expansion opportunities, no matter how they are disguised, and have the capacity to respond. Entrepreneurs by their nature often see opportunities where others see problems.
In business, having a clear business strategy and knowing what service your company provides helps you find the market information that opens the next business opportunity. However “knowing what service your company provides” may mean seeing your company in a different light. For example, transportation companies that only see themselves as people movers, by seeing themselves as an all around transport service may be able to open additional markets in small cargo transportation. Another perspective changing thought is: differentiate what your business does from how your business benefits your customers. Phone answering services take messages, but they also provide the company’s first impression to their customer’s. Knowing this helps you train your employees to include some PR in there interactions, and create an additional marketing differentiation to attract new markets.
Another opportunity expansion exercise is to define all the steps your customer’s take to get and use your product. Then decide what of those steps can you include in your offering to improve your customer’s perception of your products and services. In business consulting terminology, this is sometimes called consumption-chain mapping.
Next is keeping your vision on your local demographic market and its changes in tastes and buying habits while keeping an eye on national trends. National trends are often the best ways to spot the effects of a disruptive technology. Once major changes in technology or national tastes (such as the shift from fast food to nutritious food) occur, being the first to adapt that finding into how you shift your marketing may cause a dramatic increase in market share.
The fourth area to examine for opportunities is to recognize competition in all its forms. Everyone is aware of their direct competitors, but focus should also be put on tangential competitors and potential competitors. Tangential competitors do not so much compete on product offering, but for your customers’ time, attention and, to a varying extents, discretionary income. An example of this would be a mini golf course and a laser tag place. They each offer a distinctly different product or experience, but they both compete for peoples’ relaxation time.
US Business Finance Corp’s business cash advance program was instituted to help small businesses who ran into obstacles securing traditional business loans. Our business capital financing not only has filled the needs of this under-served market, but our cash advance programs have created a strong competition for banks in the small business financing world. Our alternative financing is proving faster to secure, faster to pay off and less burdensome on business owners – no collateral or personal guarantee necessary!
Potential customers are harder to spot since they often appear on the market when people discover a new way to use a product or solution and apply it to another problem. That new way may suddenly be in direct competition with your business. In marketing, many start-up businesses try to create this “disruptive technology” product since it immediately puts them in a position to make inroads into an established market and establish major market share before the industry dinosaurs wake-up to the new competition. Japan took over the small car market when Detroit failed to see how small cars could compete with the popular large autos. Business cash advance alternative financing gained momentum when business owners expanded their use from emergency working capital needs to investing in equipment and advertising to grow their companies.
Paying attention to these four areas will give you a leg up on spotting marketing and sales opportunities for your company and prepare you for ways to re-invent your company if the market makes radical shifts. Contact US Business Finance Corp today to help your business expand its foothold in your markets with a cash advance.
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Filed under: Alternative Capital, Banking Industry, Business Cash Advance, Marketing and Sales
