Ali Mayar Shares: 3 Signs Your Business Could Use A Financial Boost in 2019
Running a business is difficult enough without the added stress of a cash flow crunch. There is something to be said about self-sufficiency, but as Ali Mayar will tell you, sometimes it’s important to seek outside help during times of high stress and low cash flow.
In case you’re wondering, Ali Mayar is the founder and CEO of Platinum Rapid Funding Group. The Long Island-based company specializes in business funding. An MCA is basically a lifeline for businesses in financial need.
From Mayar’s experience, such a funding injection would come in handy in the following instances.
Things Are Starting to Fall Apart
You know you’re in a cash crunch when things start falling apart everywhere. But what exactly is ‘falling apart’ in the first place? It’s a state where your organization starts suffering due to unaddressed needs.
While every business is unique, downward trends tend to share symptoms. As such, you might want to seek financing if:
-You’re struggling to pay your employees: A cash flow boost will help you sort things out before they start leaving.
-The quality of your products/services is plummeting: Cutting corners in a bid to cut costs is a terrible idea, to say the least.
-Things are falling apart literally: Maybe you’re having to put up with outdated tools because you cannot afford upgrades. Things may also fall apart because you’ve neglected repairs for far too long. Whatever the case, outside financing could make all the difference.
You Are in the Middle of, or Are Approaching a Typically Slower Business Season
Sure, a diverse product line may help you keep cash coming in all year long. But there’s just no way to avoid seasonal slumps altogether. And that’s not necessarily a bad thing; the reduction in front-end activity affords you time to catch a breath or two.
Of course, it’s impossible to relax when you’re constantly worrying about your cash flow. That’s why you should seek out a capital injection beforehand — most seasonal businesses do this to offset revenue shortfalls during slower months. If you’re already experiencing a slump, now’s the time to get moving. Keep in mind, though, that funding is best sought before it’s needed. Having the foresight to plan for slow periods proactively can make a huge difference in your bottom line.
You Want to Expand Your Business
Growth can take many shapes and forms. It could be that you’re planning to open up locations in untapped markets. Or perhaps you’re just looking to build up capacity in response to developing demand.
No matter what your expansion plans involve, putting them in motion will require a sizeable financial outlay. That’s why you want to start approaching potential backers early on; this will help you find the right partner and finalize the deal in time. Do keep in mind that you will need to clearly outline how the project will contribute to your bottom line.
Get More Exclusive Insights from Ali
Is there a better way to grow one’s business acumen than to leverage the experience of other entrepreneurs? Obviously not — that’s why you’re looking forward to learning more from Ali Mayar. You can do that simply by following him on social media via https://twitter.com/alimayar400 and https://www.facebook.com/alimayar400 /.
Also check out alimayar.com for more insights on the financial sector.
