Business owners know that the right opportunity can significantly change their futures. It could be building a business in a new market, signing a new customer or developing an important new partnership. Taking advantage of opportunities when they come along can be an important game-changer for your company.
What can you do to ensure your business is always positioned to take advantage of opportunities when they arise? Here are four tips that can help you avoid missing out when you’re looking at the chance to increase revenues and improve your profitability.
- Be confident in your company’s prospects and stay open to new ideas. With confidence in your ability and your company’s financial stability, you can explore new opportunities.
- Stay ready to invest in personnel, equipment, space, whatever the new opportunity requires. Make sure you have fast access to debt-free working capital to expand and increase your capability when needed to take on new business.
- Improve your company’s visibility, image, and, creditworthiness. To be an attractive business partner or vendor, allocate resources to smart marketing and take steps to improve your credit score with prompt payments on your bills.
- Avoid accruing so much debt that you miss out of good opportunities. High interest rates on credit cards, merchant cash advances, and online lending schemes can tie up so much cash that you won’t be able to pursue new opportunities.
How can you ensure that you won’t miss out on profitable opportunities? When you improve your cash flow through invoice factoring, you are better positioned for success.
- By getting paid in advance for the work that you’ve completed, your company can remain financially stable without waiting weeks and months for revenue. Your potential customers know that you have the resources to complete their jobs.
- Factoring turns the cash sitting in your accounts receivable into instant working capital to invest in staff, upgrades, or whatever is needed to take on larger customers.
- Being able to have cash in hand to pay your staff and bills on time by speeding up your cash flow takes away the stress of payday and payment deadlines, while improving your credit score. Factoring also lets you take on good customers without worrying about their longer payment terms.
- Too much debt and chronic cash flow crises take a toll on both you and your business. When you work with a factoring company with high advances and low rates, you enjoy predictable revenues – without incurring debt. Factoring is not a loan; it is an advance on funds that are owed to you.
Don’t risk another month of possible missed opportunities. Call the cash flow specialists at Interstate Capital now for a quick consultation. Click here to find out your factoring rate.