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U.S. currency in a bull market.
We have put together the most tactful ways to use your acquired funds and obtain complete benefits of rapid growth and development of your small business.

1. Innovation of Current Products or Services

Invest your funds to innovate the products/services of your company to attract new customers and commit the old ones. Know what your potential customers expect from you. Be honest and loyal to your customers. If you are successful in satisfying your customers, they will definitely come back to buy your product/services. They will refer friends and family members, too. 

2. Participate in Trade Shows

Invest your new funding to participate in trade shows. This is a great strategy to utilize funds. Trade shows usually attract customers by grasping their attention. Select carefully where and when to market your product in a trade show.

3. Expand your Market

Invest money into reaching new markets. Make your product available to new customers by opening new stores at outreach stations or even pop-up shops.

4. Market the Product

Use strategies to market your product. Use advertisement through television commercials, billboards, banners, and social media like Facebook and Twitter to target people of all ages which will eventually bring in more capital.

5. Conquer a Niche Market

A niche market is the targeted and focused portion of the market where other businesses are failing to fulfill customer needs. Focus and invest here to win the battle in the niche market.

6. Payoff Debts

Invest your new funds in order to payoff debts. The less the debt, the higher the credit scores. The money saved from monthly interest rates can be utilized in fulfilling other business requirements. Keep an eye on your bookkeeping records for paying off the debt.

7. Modernize Equipment

Use funds to replace broken equipment as soon as possible to avoid delaying orders and services. With better equipment, your orders will be completed on-time, resulting in an increase in the trust and quality of your company. This will give a much needed boost to your business.

8. Beef Up Technology

Investing in the right technology provides you with critical insights of customers and possible prospects. It will provide protection from a hacking disaster due to data loss that may cripple your business. Invest in CRM (customer relationship management) software to keep track of potential customers and purchasing history. The customer is your most valuable asset for your small business and, by targeting this asset efficiently, sales will be increased. CRM is an online accessible software. An investment in a subscription fee of such software will give a great boost to your small business.

9. Franchising

Franchising gives a fast boost to your small business. It is a method to expand your market/business. The product is distributed more widely to meet the increased demand of customers. Before franchising, a market analysis should be done. Know what the customers’ demands are and what the regulatory requirements are.  These will need to be analyzed thoroughly before franchising.  Franchising will help in capital expansion, quick market penetration, and ultimate growth of the business.

10.  Exporting

Boosting your business by exporting your product is one of the crucial methods for growing a business. Invest your money and time wisely to reach international customers. First of all, search the top three international markets where your product or service will gain maximum profit. Make an accurate analysis of the market conditions in these three countries. Also, determine the pros and cons of marketing your product in these markets. Prioritize these three countries, according to your previous findings. Now, start the business in the most favorable country. Don’t move to the second one until at least six months have passed.

Bottom Line

With new funds, there are so many options out there on how to use them.  Be wise and calculative of your decisions so that you create the best possible circumstances for your growing business.

Check out America's Best Bookkeepers
About Complete Controller® – America’s Bookkeeping Experts Complete Controller is the Nation’s Leader in virtual accounting, providing services to businesses and households alike. Utilizing Complete Controller’s technology, clients gain access to a cloud-hosted desktop where their entire team and tax accountant may access the QuickBooks file and critical financial documents in an efficient and secure environment. Complete Controller’s team of  US based accounting professionals are certified QuickBooksTMProAdvisor’s providing bookkeeping and controller services including training, full or partial-service bookkeeping, cash-flow management, budgeting and forecasting, vendor and receivables management, process and controls advisement, and customized reporting. Offering flat rate pricing, Complete Controller is the most cost effective expert accounting solution for business, family office, trusts, and households of any size or complexity.

Compliance concept. Stack of books on wooden desk
Business Funding
/Financing is the course through which entrepreneurs arrange money for investment for business purposes. A investment can be used for starting a new business or to finance current activity in a business that’s already well on it’s way.  

There are 3 main purposes of financing:

  • Funding a business startup
  • Financing for growth and expansion of a business
  • Dealing with unforeseen financial encounters

Sources of Business Financing

  • Self-Funding
  • Giving up Equity
  • Debt
  • Business credit card use
  • Small Business Administration loans
  • Foreign investors
  • Crowdfunding /Selling shares of the business

Are Business Funding Rules Good or Bad?

If you ever turn to economics, accounting or managing the books in a business, there will probably be rules everywhere. Following rules in business are good for running a successful and growing business.

But, experience and personal forecasting and judgment matter quite a bit in making decisions for running a successful business and producing result oriented business operations.

If you ever ask a successful entrepreneur if he is a strict rule follower, the answer will be no. From a study conducted on a course of 30 years and on 12,686 Americans sample size, “Study finds successful entrepreneurs have brains and a history of risky behavior in their teens

7 Business Funding ‘Rules’ to break:


1.  
Think out of the shell. Be rebellious in nature. Being rebellious in business does not mean risking conflict in legal matters. It means to think out of the box. If the market is going down and the overall economy is falling, even then there is nothing bad in taking risks and facing challenges. But, be prepared and get ready before falling into any kind of new challenge. Introducing a product with better taste as demanded by customers in the previous survey can be risky but those who do not try new ventures, do not get new experiences and/or better outcomes.

2.  Be risky in business. If your current growth rate of business is not up to the mark, there is no harm in being risky and going over new horizons in business. Those who do not take risks do not reach to the skies. The large corporations that we now see often started with the least capital investment and a small sized business. Invest money in new ventures and put your efforts in fully. Even if the business goes into recession, it might rise again after using effective strategies.

3.  If you think your previous business history must be spotless in financial bookkeeping, then it is a wrong assumption. Investors are often not interested in previous failures, but they are interested in your new ideas and new business plans.

4.  It is not true that 100% of online lenders are spams or scams. Though many can be, not all are. There are registered tools to find and meet online lenders. Go for suitable interest rates and look at the time in which the loan has to be paid back.

5.  You must always have a confirmed and high-profit yielding business plan to meet lenders. This is again a wrong assumption. It can be true to some lender’s point of view. But, many are just available to lend money and receive it back with some interest.

6.  Do not go for too much loan just to show you need a huge investment capital for the business. This is not the right thing to do. Lenders often have no concern with how large your business is. They are lending money just to get more.

7.  Fail harder. There is no one in the world who never failed in his/her lifetime. Never fear failures. You fall and you rise again. That is the real success.

CONCLUSION

When studying business and financing, we are told thousands of rules during our whole coursework. Accounting consultants and economists are always explaining the rules to run a successful business with an upsurge growth. However, how to fund your business is not always by a perfectly rule-abiding procedure. Use skills, be risky, gather experience from the past, and be  ready to take challenges to ensure a successful business funding and growth.

Sometimes breaking the business funding rules ensures a better entrepreneurship than sticking to the rules as told by books.

Check out America's Best Bookkeepers

About Complete Controller® – America’s Bookkeeping Experts Complete Controller is the Nation’s Leader in virtual accounting, providing services to businesses and households alike. Utilizing Complete Controller’s technology, clients gain access to a cloud-hosted desktop where their entire team and tax accountant may access the QuickBooks file and critical financial documents in an efficient and secure environment. Complete Controller’s team of  US based accounting professionals are certified QuickBooksTMProAdvisor’s providing bookkeeping and controller services including training, full or partial-service bookkeeping, cash-flow management, budgeting and forecasting, vendor and receivables management, process and controls advisement, and customized reporting. Offering flat rate pricing, Complete Controller is the most cost effective expert accounting solution for business, family office, trusts, and households of any size or complexity.

 

 

Funding Your Business - Complete Controller

According to research, more than half of all entrepreneurial ventures close their operations within their first year. The shortage of funding options has been recognized as a significant contributor. The importance of cash cannot be denied for all kinds of businesses. Therefore, your priority should be to find the right channels for funding your business. Whether you are expanding your business or sustaining the current business model, you must have a consistent cash flow and an optimized strategy for acquiring financing.

Whatever your business needs may be, getting the money at the right time will exponentially enhance the chances of your business success. The use of innovative technology is encouraged among new businesses as they have to compete with other players who are already using it to significant effects. Here are some of the tips that will help you reach your potential.

Innovative Tips for Funding your Business Check out America's Best Bookkeepers
Bootstrapping

Bootstrapping, or self-funding is one of the most efficient and suggested means of funding a business. It is hard for new business owners to obtain capital as they are novel and may not have a financial history. Convincing someone to finance your business can be a tough job. Therefore, it could be better to save up enough money to start your own business.

Ask family and friends or find a potential partner who shares the same views as you. These are the people that you trust the most. Therefore, it’s wise to ask them first before looking at other options. You can put your idea out on the internet, find someone interested in your idea, and agree to finance or partner in your business. You can offer shares in the company for their investment. Bootstrapping also allows you to own your business from day one. Gathering and organizing all of your financial resources is key to bootstrapping and funding your business. Check out America's Best Bookkeepers

Crowdfunding

Crowdfunding is an innovative way of acquiring finances for businesses these days. The funds are collected and contributed by many people who are interested in your business idea. You set up a comprehensive narrative of your business plan on a crowdsourcing platform. The account contains all details about the potential business or project: its product offerings, goals, plans on making revenue, and many others. Visitors on these crowdsourcing websites make their judgments about the plan and decide to invest. They then become the stakeholders in the business with privileges.

Funding your business through crowdsourcing is an inordinate way to access capital and promote your business. It is like free marketing for your business, as everyone that sees your idea acts as a potential marketing tool. The response you receive shows if your business idea is sustainable and is going to attract an audience. Primarily, it offers you a broader viewpoint that can be utilized to formulate your future business strategy. Crowdfunding, however, is relatively competitive. To generate interest, you will have to come up with a good business plan. Check out America's Best Bookkeepers

Angel Investors

Angel investors are individuals with surplus cash and a profound interest in financing lucrative business ideas. They usually operate in groups as it narrows down the risk by sharing it with partners. These people are experienced businesspersons who are adept at what they do and have a keen eye for market trends and innovations. Alongside their resources, they offer mentoring and counsel to businesses, which is of enormous value based on years of experience.

Finding angel investors is an innovative option that has helped successful businesses today. They offer their capital and advice in return for a percentage of equity in the business. It is fundamentally a win/win condition for both, making it one of the most rewarding ways of funding your business.

Keynote

While the many financing options have made it easier than ever to get started, smart business owners should ask themselves how much monetary support they need before reaching any conclusions.

 

Check out America's Best Bookkeepers About Complete Controller® – America’s Bookkeeping Experts Complete Controller is the Nation’s Leader in virtual bookkeeping, providing service to businesses and households alike. Utilizing Complete Controller’s technology, clients gain access to a cloud-hosted desktop where their entire team and tax accountant may access the QuickBooks™️ file, critical financial documents, and back-office tools in an efficient and secure environment. Complete Controller’s team of certified US-based accounting professionals provide bookkeeping, record storage, performance reporting, and controller services including training, cash-flow management, budgeting and forecasting, process and controls advisement, and bill-pay. With flat-rate service plans, Complete Controller is the most cost-effective expert accounting solution for business, family-office, trusts, and households of any size or complexity. Check out America's Best Bookkeepers
Business owners with HELP sign

Getting paid is one of the most thrilling parts of running a business. However, what is not as thrilling is monitoring your financials. Here are eight common accounting issues that harm your business.

  1. Make Time to Complete your Transactions

Whenever a receipt is issued, the receivable is booked, implying that a client owes you cash. Checking your receivable posting, you will see that the client’s change is outstanding. When you get an installment from that client, it needs to be entered against the receipt, so that is checked for payment. In practical terms, this is easier said than done.  Customer deposits are often left to resolve later since not enough time is in a day. This is one of the most common accounting issues to affect your business funding. Check out America's Best Bookkeepers

  1. Regular Updates

With taxing time, you have a cluster of client deposits sitting in your income account, and a receivables report that does not reveal the truth of the matter. This common accounting issue results in hours squandered updating the receivables posting, tax overpayment, and high insolvent debts. Making it a point to catch up on your receivables and applying installments to invoices on a month-to-month premise can spare you amounts of business funding in the long haul.

 

  1. Not Having Genuine Records

One of the most common accounting issues that numerous entrepreneurs neglect is to spare duplicates of operational expense receipts, which can bring about a series of tax, bookkeeping, and income issues. How frequently have you taken an assessment of your ledger articulation and not understand what that $100 charge is?  Is it supplies, a business dinner, hardware or is it an individual cost you inadvertently paid by utilizing your business card?  Not having a genuine receipt that can give you insight about the charge can bring about inaccurately revealed costs and a high expense charge on your business funding. Check out America's Best Bookkeepers

  1. Not Having Handy Deposits of Record

How might you amend your receipt issues? Spare a receipt of each business buy. That procedure may appear to be exceptionally unwieldy, so here are a couple of tips to make it less demanding and less tedious. Utilize your business bank or charge your card to pay for costs of doing business, have an envelope in your car, or have a place to store every one of your receipts as opposed to placing them in your pocket, satchel, or more regrettable, trash can. Lack of organization is one of the most common accounting issues.

 

  1. Doing Your Own Taxation

Entrepreneurs frequently attempt to spare cash by doing their own taxation assessment. Truly, not employing an expert can cost truckloads of money. You may not assert every one of the conclusions you meet all requirements for, or you may come up short on your assessment charge prompting penalties and different expenses on your business funding.

 

  1. Lack of Acquaintance with Technical Terms

It is the most despicable aspect of numerous entrepreneurs, less about the part where they have to meet with experts who adore gushing language and trendy expressions. The issue is that most entrepreneurs are excessively timid, making it impossible to tell their bookkeepers that they should speak in layman terms. Check out America's Best Bookkeepers

 

  1. Lack of Delegation

You are an entrepreneur. You are not finance professional. And in no place does it say you must be avant-garde on all of the most recent bookkeeping blather. Furthermore, trendy expressions, language, and jargon are the reason you pay your bookkeeper. Deciphering all that techno-talk into dialect you comprehend can turn out to be a common accounting issue.

 

  1. Inefficient Bookkeeping

Would you rather hear this, ‘We utilized fast capital cost return to bear your assessment obligation to nil?’ Or, ‘There’s a transitory assessment program that lets us totally discount the greater part of the new PC gear you purchase. So, on the off chance that you require another IT unit, get it now because we’ll utilize that cost to get your expense charge down.’

 

The primary concern is whether you and your bookkeeper talk a similar dialect at the point that he/she is a piece of your group. They are watching your back and giving you exhortation that you can bet on. These are some of the most common accounting issues that can have an impact on business funding.

 

Check out America's Best Bookkeepers About Complete Controller® – America’s Bookkeeping Experts Complete Controller is the Nation’s Leader in virtual bookkeeping, providing service to businesses and households alike. Utilizing Complete Controller’s technology, clients gain access to a cloud-hosted desktop where their entire team and tax accountant may access the QuickBooks™️ file, critical financial documents, and back-office tools in an efficient and secure environment. Complete Controller’s team of certified US-based accounting professionals provide bookkeeping, record storage, performance reporting, and controller services including training, cash-flow management, budgeting and forecasting, process and controls advisement, and bill-pay. With flat-rate service plans, Complete Controller is the most cost-effective expert accounting solution for business, family-office, trusts, and households of any size or complexity. Check out America's Best Bookkeepers