|
Sometimes we have sources of funds all around us but don't realize it. It's up to you to determine the urgency of your needs, and that will help you get the funding you need more quickly. Here are a few suggestions:
Use your personal credit cards:
These are sources for short term funds that can be repaid quickly. Using them for long periods of time may result in high interest payments and have a negative effect on your business.
Sell any items which you are not really using:
With eBay, you can easily get rid of a lot of unwanted stuff and this is a great source of cash.
Cash in on any investments you have:
Some long term investments you have on the side could be new sources of quick funds. You will have to weigh the advantages and disadvantages of liquidating any investments.
Do you have any assets that can be sold off?
This can be anything from company cars to office equipment to real estate. Generally anything that is unnecessary (especially perks) for the business survival can be converted to cash.
Have a sale:
If you have a lot of stock then have a sale to get the cash you need. Slash prices on items you may not restock. And keep in mind that a good sale always makes the customer's benefit the key issue.
Take prepaid orders at a discount:
If you can set up a special offer for people that prepay for something to get a discount, this may be the solution for the money you need.
Create A Join Venture Deal:
Click here for more information on Joint Ventures.
Create An Affiliate Program:
Click here for more information on Affiliate Programs.
Contact your existing customer and give them a deal:
If you have a customer data base this would be a great opportunity to offer them discounts on what you have to offer. Give them a good reason for the sale (the truth works best) and give them a discount.
For quick example :
Dear Joe,
I wanted to take this opportunity to thank you for being a loyal customer. You are important to us, and that's why I'm writing to you today.
I have an expansion project coming up that requires a large sum of money, and I found that the best way to raise our capital is to minimize our stock. So Instead of offering a huge sale to the public, I decided that I would pass on the savings to our cherished customers like you.
For these customers only we are offering a huge 57% discount on everything we sell. This is not open to the public, and you know that at these prices our inventory won't last long, so act now to take advantage of my offer.
This is a win, win situation. All will benefit. You get the great savings and I'll raise the capital I need to expand the business.
I look forward to seeing you soon.
|
