Accessing Working Capital Just Got Easier! Read to Know-How

It time to ditch the conventional method of financing! The alternative for this financing has created a storm in the financing industry. It has pledged to improve the financing scenario for the betterment of small and medium enterprises. Breaking the shackles set by the traditional channels, this new financing sector is diligently working to ensure that small and medium businesses never have to lose an opportunity of growth or expansion due to a lack of working capital. Sounds great, right?

Don’t you wanna know more about this new sector? Of course, you do! The inception of alternative financing has broken traditional grounds like never before. They are flexible, provide instant assistance, have great consumer support, and, more importantly, they have different ways of measuring the requirements of the approaching applicant.

Moreover, the best thing about them is that they don’t consider the conventional way of asking for high credit scores and heavy collaterals. They understand that it is not easy for every businessman to maintain this aspect. Unexpected changes like a request for a hike in payroll, the launch of new or seasonal products, upgrading inventory, and many more can result in a bad credit score and loss of substantial collateral. Thus, making it difficult for the businessman to maintain the most crucial aspect of measurement of the traditional channels; and, falling out of the financial radar of the conventional financing channels.

This is where alternative financing firms like Mantis Funding are plying their trade to even out the differences prevailing in this sector.  With their wide range of financing offers, alt-fin firms are helping businessmen to combat their previous debts.  Besides, these offers are becoming a greater part of the financial planning process due to their flexibility in repayment.

Wondering how to access the funds from these firms? Don’t worry about it! It’s a very easy process:

Step 1: Online Application

Easy and convenient, a few steps and your application are done! There is no need to visit the company. Moreover, to make it more convenient, you can also call their helpline number and contact the concerned manager to provide you more assistance while filing the application. 

Step 2: Review and Feedback:

The moment you submit your application, these firms appoint their professional fund manager to assess your application. In this way, Mantis Funding Reviews the application thoroughly and ensure to iron out the loopholes that could help them to make the process versatile and flexible. Hence, enabling them to approve funds in the best possible way.

Step 3: Get the required funds

The moment firms like Mantis Funding feel that your application is good for approval, they ensure that minimal time is taken to transfer the funds. They understand the importance of these funds for the businessman and hence have placed a team which works extensively to make the fund transfer extremely smooth and simple. 

Indeed, one has to accept that alt-fin firms like Mantis Funding have made it easy for small and medium businesses to access the funds.  Providing an escape from the never-ending documentation and other traditional methods, alt-fin firms are working with an aim to make financing smooth, easy, and adaptable. Perhaps, this is the reason why they are projected as the upcoming leaders of the industry.

What are the Advantages SMEs Have While Working with Alternative Financing Firms?

Financing is a never-ending process. The moment you think that you have sufficient funds is the exact moment you will seek a financier to fulfill your uncertain quest for growth or expansion.

Try it out!

Given the market’s jam-packed scenario, it is quintessential to have backing from a financier. In case you fail to get it, the consequences like debt, poor credit score, and substantial loss of collaterals are inevitable. Going with the same declining trend, it is easy to assume that traditional financiers will be the first to discard your application. Due to their standard regulations, it will be hard for them to understand your situation. For them, your high credit score and lucrative collateral is the right measure of your worthiness. Pretty damping to hear, but, it’s true!

However, the inception and the unprecedented rise of alternative financial institutions have changed the scenario in favor of small and medium businesses. Firms like Mantis Funding are constantly working to upscale their operations in order to help more SME owners. For them the motive is simple: Help the country’s economy grow by strengthening the country’s economical backbone. Something that traditional channels couldn’t understand and master regarding small and medium businesses.

Nonetheless, here are a few points that assert the case why SMEs should work alt-financing firm:

● They Fulfill Your Requirements by Providing Exact Funds

It is fair to say that alt-financing stands for customizable financing. Firms like Mantis Funding have devised their procedures in such a way that they fulfill their applicant’s expectations by delivering exact funds. They understand that every business, of varying levels, have their own set of requirements. These can range from a sudden hike in payrolls to buying new equipment to upgrade their business. This is the reason why they never measure or prepare their offers in a standard manner. Their flexibility in timelines and cost structures is the reason which makes them a unique and exciting prospect to work with.  

● Funding is Quick, Very Quick!

There is no messing about this fact! They believe that funds are quintessential for SME’s smooth operations. A slight delay can hamper an SME’s chance to grow or expand. This is the reason why they rely on their super AI/ML-powered systems and gateways to provide funds in a matter of 4-5 days. In case the requirement is very urgent, they ensure that the funds are deposited into the applicant’s account within 24 hours!

● Credit Score, Collateral, What?

Poor credit score and lack of substantial collateral is the reason why many SME owners are deprived of their basic right. As per regular norms, the lack of any of the above-mentioned factors means that the SME owner is not credit-worthy.

However, what if these factors are removed from the system? What if there is a new criterion to measure your creditworthiness?

Alt-fin firms like Mantis Funding have created a new bubble for SME owners. This bubble does not assess them on their credit score or collateral. As per Mantis Funding Reviews, the alt-fin services take a holistic approach to measure the creditworthiness of the SME owner. Transaction records, social behavior, business prospect, etc are now important.

In a nutshell, the success of any business depends on the usage of the funds. Yes, there are many advantages of working with alternative financial institutions but the real benefit of the funds lies within the SME owner’s capability to use it.

How an Owner Can Enrich His Small Business with Alt-Funding?

As much as you need good food to survive, your business needs substantial funding to grow. Try starving yourself for days and you can imagine how your business feels when it lacks the right amount of working capital.

For big businesses, the situation is slightly different as compared to SMEs. The reason being:  they have established themselves over the years, they have maintained a level of trust with the customers, and their rising net worth is good enough to attract a lot of funders.

However, when we talk about small and medium enterprises, which are comparatively new in comparison to big-league players, there is an element of doubt in funders’ mind. Besides, the challenges these firms face make it tougher as they are not able to maintain the required credit score and lose a considerable amount of collateral to get the necessary food for their business.

Moreover, the day-to-day task like keeping equipment and machinery to date, maintaining stocks, managing payrolls, purchasing raw materials, etc. also take a toll on the incoming working capital. As a result, the thought of having reserves in the bank remains only a dream to be achieved.

However, all is not lost for these funds. For each problem, there is a solution. If traditional channels ignored them then alt-financiers with their funding options like a Mantis Funding Cash Advance embraced them. They ensured that funds don’t become a reason for an SME owner to sacrifice his dream.

With options like cash advance, alt-fin firms have injected the country’s economy with the substantial funds they need to cope with their regular problems. Besides, this cash advance is termed as the best method as it does not creates a burden over the pocket of the SME owner. With patience and planning, these alt-fin firms customize a deal and repayment structure that strikes harmony with the owners’ incoming working capital. 

In cases where the owner is really confused or have his doubts regarding any facet of this option, these alt-fin firms have set-up a platform like that of Mantis Funding Complaints where they have a team of support staff ready to tackle and untangle every question coming their way for more clarity of their customers.  

So, if you are really interested in options like that of Mantis Funding Cash Advance, you must know that alt-fin firms do look at a few aspects of your business before providing a cash advance.

Here are some of them:

Business Model
Revenue Stream of the business
Transactional history
Your time in the market(It should be minimum of 3-4 months)

So, if your business stands their test on the above-mentioned points, there is no stopping you from getting funds from them. Also, providing funding and seeing a smile on the faces of owners fulfills their prime motive of customer satisfaction. For them, the customer is everything. They understand what problems a businessman can face in the duration of growing it and they duly support it. Besides, their channels like that of Mantis Funding Complaints are working tirelessly to ensure that no stone is unturned.

Believe it or not, getting easy and accessible working capital was never smooth before their arrival. Irrespective of the size, they provide you a helping hand that will stay with you only till your intentions are right. If you are searching for a funding partner then it is the right time to pick up your phone and call Mantis Funding only to realize how professional and adequate they are.

How Quick a Cash Advance Service Can Help You in Managing Your Working Capital

Let’s consider a situation where:

The Great Recession has just hit the market, the world economy is shaking with its tremors, and many small and medium businesses are facing the wrath of this.

You are a young SME owner who is looking to save his business. Coincidentally, at the very moment, you get a very lucrative opportunity to expand your business to strengthen it.

However, due to a lack of funds, you approach a traditional channel for quick help. Due to the recent economic downturn, the banks demand various things like a good credit score and heavy collaterals. Unlikely, you don’t have either of them.

Hence, the bank without understanding your situation declines your application. You helplessly see that opportunity slip away and someone else takes advantage of that. 

Now, think about the same situation in this decade and ask: Will this repeat again? 

The answer to this question is, No! 

When the Great Recession came, there were not many channels who provided funds. Alt-funding firms like Mantis Funding rose to the occasion and changed the way financial institutions worked.

They brought lucrative funding deals, which were tailor-made for small and medium-sized enterprises. The most important thing they did was, they provided funds quickly and efficiently and that too without the need of credit score or collateral! 

They laid the foundation of criteria where the businessman has to ensure a good volume of sales was the base of approval. And, ensuring that the funding is provided soon as the application is approved. Besides in cases of emergency, they worked to provide funds in 24 hours! 

Advantages They Offer 

The biggest advantage is that they are quick and efficient. There is no hiding the fact that traditional channels take ages in verifying before rejecting your application. Alt-fin firms like Mantis Funding work with the sole aim of providing funds for the growth of SMEs. 

For this reason, they don’t take credit score and collaterals into their criteria. The reason being that it is hard for an SME to maintain these two aspects while working out ways to tackle different situations. They look for your business model, how well your revenue stream is working, how good is your social behavior, etc which define your creditworthiness. 

Mantis Funding reviews each and every with a broader perspective than that of traditional channels. Hence, they understand what the candidate needs. 

How to Find the Best-Fit

With the increase in the number of firms, it is getting harder to pick the right firm that is the right match for a particular business or a businessman.  

Moreover, the biggest strength of these firms is also their weakness. Yes, the flexible rules and regulations can be good enough for firms to trick you. So, how do you get to know them? Well, going for a face-to-face meeting is pretty fair and perhaps, the best thing you can do. However, while spending time online, try reading reviews on various forums and on alt-fin firm’s website. This will give you a wider perspective regarding the reputation of firms and their services. 

Like that of Mantis Funding Reviewsthey offer an insight into how much they value being a customer-centric funding group. Also, they tell you whether the firm’s executive was friendly or pushy. 

Of course, you don’t want to get tricked and trapped as a businessman. Hence, it is better to check out different forums, look into the website to getter a wider view of things, and go with your gut feeling.  

Alt Lending Is Touted As The Next Big Thing By Millennials.

Millennials, the “Gen-Y,” falling in the age bracket between 18-34 years, are now being touted in the U.S as the “newest, biggest and most diverse target market,” making up nearly 60% of the workforce and accounting for about 21% of its disposable expenditure.

However, with all their love for speed and digitization, one is unlikely to find them waiting for months for a loan application to be processed through conventional routes. Moreover, Millennials with their average credit score of 647 as compared to the national average of 682 (on account of factors as varied as piled up students debt or start-up debt) fall far behind in this conventional credit ranking criteria and hence, fall within the bracket of the “credit-thin” or “credit invisible” category.

They today stand at the precipice of credit age and they form the major chunk of the entrepreneurial class who are poised to shape the economy in the years to come. However, an Experian study has decreed that there is 71% more chance of Millennials seeking financial advice from their dentists than heading towards the banks. Hence, it is not surprising then that this particular segment of the population finds in Alt lending its primary cheerleader.

How Alt-finance is fast usurping the No. 1 favorite spot for Millennials?

The last few quarters of 2019 and the early quarter of 2020 have been proof of the fact that we at Alt lending is making fast and definite inroads into the SME category of financing.

• Fast processing of Cash Advances and ease of transactions and absence of collateral requirements have led us today to surge ahead, surpassing the conventional route of banks and private financiers in the financing category of the SME sector.

• From the millennial viewpoint, what better way to access Cash Advances than with the press of a button? The entire digitization experience that our new Alt Finance models like Mantis Funding Cash Advance are bringing to the table has re-written the dynamics of the industry rules.

• Cash Advances are being underwritten in record time, sometimes in as less as 24 hours at customer care centers like Mantis Funding Comp, and funding is sanctioned twice as fast than most other channels.

• The key nudge being provided by our Alt lending model is in the direction of using digital records to assess the creditworthiness and track records of the clients instead of an assessment of balance sheets and FICO scores of owners.

• With the lightning-fast credit appraisal system and Cash advance disbursement facilities, they are today the biggest source of easy credit to small businesses and will remain extremely important in the next decade or so.

The Alt Finance lenders, comprising mostly of start-ups like ours at Mantis Funding Cash Advance, disbursed some 48% cash advances to Millennials below 30 years of age as compared to 25% sanctioned to the plus 35 age group.

The Future of Alt-finance
Millennial population, slated to cross rough 83 million, half of which shall take the entrepreneurial route, understand the pulse of the growing market economy. They know that the focus and style of advertising and marketing materials have revolutionized in the last quarter of a century, and their work ethics are fast reflecting this shifting dynamic. 81% of this burgeoning population cited the ease and speed of faster loan application reasons for having made the switch, while 77% voted in favor of our new age model for the rapid pace of credit decision and better customer relations.

They are fast shifting gears from traditional lending agencies to the new age Alt finance companies and knocking the doors of companies like Mantis Funding Compliance. This significant development in the coming years augurs well for the future of Alt finance in the United States.

Mantis Funding Your Alternative Financing Partner?

I have been working with an alternative online lender for the last 5 years, and I get asked this question all the time! Despite the copious amount of online information about alt-lending methods and its various benefits, it seems the layperson is somewhat confused about when to approach alt-lenders and how the funds can be used.

So I have put together a shortlist of the most popular use cases of alt-fin financing offers –
Businesses of all sizes and from all industry verticals use alternative financing to run and grow their operations. However, alt-fin offers have proved to be most useful for small and medium enterprises such as restaurants, construction, medical and dental practices, retail, transportation and logistics, automotive services, nightclubs, etc.

They access funds through a variety of flexible financing offers that have been put together by financial advisors to serve the specific needs of each industry.

Purchase, Lease, and Upgrade Equipment – every alternative lending company that serves small businesses offer a variety of equipment financing deals. Business owners can either lease or purchase business-critical equipment without tying up their cash.

Improve Business Credit
Paying creditors on time is crucial for improving business credit scores, and many small business owners leverage easy alt-financing offers to improve their credit ratings by clearing outstanding payments and showcasing a healthy payment habit.

Purchase Inventory
Stocking up on inventory, especially to deal with seasonal demand peaks, is another preferred use of alt-fin deals by small business owners. For example, many retail customers of New York-based alt-lender Mantis Funding take out Cash Advances to stock up for Christmas.

Expand or Relocate a Business or Franchise
Opening a second location (for example, for a restaurant or a franchisee) or expanding existing operations are two scenarios for which alt-fin lenders are a huge help for small business owners.

Manage Cash Flow Issues
Many small businesses struggle once in a while to make ends meet – this could be due to any reason such as changes in consumer trends, natural calamities, or global recession. During these low cash times, funding deals like Mantis Funding Cash Advance can help with fixed and urgent costs such as payroll, utility bills, or insurance premiums.

Get Cash To Manage Slow Payments
Invoice factoring is a great way to liquidate your future payments. In many industries, the amount owned to business owners takes several months to come through, such as in construction. In this scenario, companies such as Mantis Funding pay lump sum cash against invoices raised by the company. This, of course, helps the business meet its immediate expenses safe in the knowledge the money will be repaid as soon as their own payments get cleared.

Manage Seasonality
Most businesses have clear and ever-present low and high seasons, and they all plan for it by using the earnings of their primary season to keep the companies ticking during the off-season. Working capital funding by alt-fin lenders can be extremely useful to ensure that small cash shortfalls can be managed, and businesses can prepare themselves to meet the main season.

Alternative financing is a huge boon to small businesses across the globe –they get easy and hassle-free access to the funds they need, on their terms, and with complete transparency. The popularity of these alt-fin offers is easily discernible by the fact that in companies like Mantis Funding, complaints are extremely rare!

How To Find The Right Alternative Finance Partner For Your Business

Recent market research by Federal Reserve Banks revealed that applications to alternative lending companies have grown by 13% between 2016-2018 – from 19% in 2016 to 32% in 2018. Anyone who has dealt with alt-fin will not really be surprised by its increasing popularity as the alt-fin industry offers the SME sector many advantages. The financing process is transparent, negotiable, and extremely flexible. It is also very fast!

However, getting the BEST funding deal is not a simple process – it requires some time and effort to find the best alternative lender for your specific needs. The alt-lending sector is quite crowded, and each company offers something slightly different. When I started looking for capital for my retail business, I thought it would be a simple process of finding a well-known lender online and filling out a form. I soon realized that putting in the time to understand the industry and researching different companies can result in a considerable reduction in repayment costs.

Here are some tips for selecting an alt-fin partner (note: I finally picked Mantis Funding cash advance for my business) –

1. Google is just the first step
Without a doubt, an online search is the best place to get started. A simple search will get you going, and I recommend that you look at online reviews and social media recommendations to shortlist a few companies (I looked for Mantis Funding complaints to check whether they had many disgruntled customers and what some of the problem areas were).

Unfortunately, I found that websites don’t list exact funding offers or many details of repayment costs or timelines. However, reading their blogs and similar articles will give you a general idea about their offer. It is best to select companies that deal with your industry as you can be sure to find offers that work for your situation.

2. Call and, if possible, meet –
As the websites are a bit thin on actual information, you will have to call to get exact details. Do check the APRs, application process, documentation required, and similar information from all shortlisted companies. If any of the companies have offices in your town, then I would recommend that you arrange a meeting; a face-to-face chat and a look at the office sometimes reveals a lot more than a phone conversation.

I created a checklist of questions and put all the information in an Excel sheet- which takes me to the next step.

3. Compare and negotiate
With all my information in one place, I could easily see who offered the best deals. With my top 3 companies shortlisted, I went back in to negotiate terms of financing. I found that there is some leeway, and if you bargain hard most companies will offer a better deal.

4. Check the legalities
The final step is something that I recommend for all business transactions – financial or otherwise – check the document before you sign it. If possible, get your lawyer or accountant to read it as well. A funding deal can last for a few years, and you don’t want to tie yourself down to something that might be less-than-ideal.

What to look out for in an alt-fin partner

As the industry is mostly self-regulated and doesn’t really fall under the laws that regulate banks and credit unions, it is imperative to work with trustworthy and reputable alt-lenders. For example, in my case, I was reassured by the absence of any Mantis Funding!

Funding Deal Details
Most financing deals like the Mantis Funding Cash Advance have a lot of scope for personalization. Mantis Funding team can tailor the cash advance amount, repayment terms, and timelines to suit your exact needs. So do find out how far they are willing to accommodate your requirements.

I hope my tips help you find the right alt-fin partner. Do let me know your experience in the comments section below.

How Merchant Cash Advance Can Boost Small Business Growth?

A merchant cash advance is an advance payment of a lumpsum amount of money that is given against an invoice. Merchant cash advance becomes handy for small businesses that often need fast cash. The payout is usually extremely quick, so you don’t need to wait for weeks, as is usual in the traditional lending ecosystem. The most significant benefit of merchant cash is it lets you borrow cash against your future earnings. So, you get the money in hand whenever your business needs it.

Why is merchant cash advance good for small businesses?

1. The instant lumpsum cash is best suited to give your business a boost when needed.
2. It doesn’t have strict requirements; hence, the approval chances are high.
3. Not a lot of paperwork is involved.
4. Approval is fast – you can expect to have the cash in hand within 24 hours.
5. You don’t need to stake your assets as collateral since the MCA is backed by your future credit card sales, unlike in traditional lending cases.

How does merchant cash advance work?
If you need fast cash to give an extra boost to your small business, then merchant cash can help you with your requirements. Whether you have a sudden need to purchase some equipment or you have come across some new opportunities that need a little investment, merchant cash has you covered. The best part is that in most cases, you can have the capital in hand within 24 hours.

How does the repayment happen?
A merchant cash provider such as Mantis Funding will lend you the money which you need to repay by having a certain percent of your credit card daily deposit withheld for the lender.

Do I qualify for a merchant cash advance?
It is easier and faster to qualify than any other type of funding. The requirements are usually lenient, and you should be able to get approval quite easily. Most lenders do not require a pile of paperwork for MCAs. Usually, your application is approved after reviewing your past few months’ bank statements.

How do I get the best rate?
To get the best rate, you should do your homework well. Chalk out the cash you must need to grow your business. Then compare different offers and choose a deal that meets your requirements.

Some terms you need to get yourself familiarized with if you’re toying the idea of applying merchant cash:

1. Factor fee: A factoring fee in merchant cash is similar to an interest rate. Usually, the average rate lies between 11.4 and 11.8.

2. Holdback: Once you borrow merchant cash, every day, a certain portion of your daily credit or debit card sales gets deducted from your bank and sent to your merchant cash provider. This amount gets charged until your debt is repaid, and the percentage usually lies between 10 and 20 percent.

If you’re looking for merchant cash, Mantis Funding offers a variety of merchant cash advances to small businesses. The company provides amounts as low as $2000 all the way up to $200,000 and above. If you’re in need of some fast cash, do check out the Mantis Funding reviews to make an informed lending decision.

How I boosted sales of my small business with Mantis Funding Cash Advance?

A cash advance is exactly what it is meant to be – an advance on your future sales. By pledging a percentage of your daily revenue, you can avail cash advance from a lender to meet an immediate requirement. Although a tad is more expensive than other funding deals, it is fast and convenient and is absolutely PERFECT if you have an urgent need for money. It also works great when you need a small amount of cash for the short term to boost your business growth.

I recently used Mantis Funding cash advance to boost the sales of my small business. But before I explain further, let me share a word of caution – how you use your borrowed money can make or break your business. Use it wisely and take your business to a new level – for example, get more leads, more opportunities, and more sales to increase your revenue. Don’t just take it because it’s available or without a clear plan of how you want to return it.

Like any other small business owner, I, too, didn’t have any allotted budget for marketing efforts. So, when I decided to spend some amount on marketing, I was cash crunched. Of course, I had my savings that I was tempted to use, but you know, with the global economic slowdown, I didn’t want to use up my reserve funds. After a lot of research and interaction with fellow business owners, I decided to go ahead with Mantis Funding cash advance, to give a boost to my sales.

How I used cash advance for my marketing efforts?
After thorough research and going through each of the alternative finance lenders in the market, I zeroed down on Mantis Funding because they offered tailor-made solutions for my business. The process is transparent with lots of flexibilities to help you customize. Since it is quick, I was able to start implementing my marketing strategies right from day one.

While traditional marketing has been around for decades now, I tried some innovative marketing strategies. Since I was not able to handle everything myself, I outsourced my marketing activities to a marketing agency who did the strategy and implemented the action plans for a fee. The Mantis Funding cash advance helped to pay the agency fee, plus it also helped to spend on some online advertising campaigns. I was impressed with the results as I got excellent leads and were able to convert them to sales. I am planning to repeat the same process after six months again.

If you, too, want to give a boost to your business without burning a hole in your pocket, then a cash advance is the best solution for you. However, do your research before signing up with any alternative finance lender. I would strongly recommend interacting with your shortlisted companies face to face before you make your final decision.

I didn’t realize that there was so much opportunity to customize until I spoke directly with the experts at Mantis Funding. However, do your due diligence before going ahead with any alternative finance lenders. Read pages like Mantis Funding to get a better understanding of what some of the bottlenecks can be.

There is no reason why you – or any other small business – shouldn’t leverage the benefits of digital marketing. Especially now that small, quick, and easy to access cash advances are available to fund the process! Choose your lender wisely and give it a go!

5 Strategies To Improve The Survival Rate Of Your Small Business

Only 50% of small businesses will still be around after 5 years! I am sure you are already well aware of small business survival rates. After all, it’s been doing the rounds for a while now. But I am not here to spread more doom and gloom; this article is about keeping you in business for the long run. Here I would like to present some strategies that will keep you profitable for years to come.

But before we get to the solutions let us first understand the challenges faced by small businesses –

The most common reason for businesses shutting shop is that their product or service doesn’t find a market. There is no demand for what they are selling! The second most common factor for failure is a lack of money. Almost a third of the companies go out of business because they just run out of cash.

After that come factors such as lack of a good team, disengaged customer service, poor marketing skills, competition, wrong pricing, and more.

So, what can you do to ensure that your business thrives?
Many unforeseeable events can impact your business negatively, but I find that by working intelligently and with a well-researched plan, you can greatly remove uncertainty from your business equation.

Continuous market research
Analyze your market in an on-going manner to understand where the industry trends are flowing. Conduct surveys, talk to customers and network with industry insiders to recognize the changes coming up in your industry. Find demand gaps that you can fill with your offerings.

Plan, plan, and plan
Use your market research to create detailed business plans. Working with a meticulous plan will give you a clear path to follow and will keep you focused. But it is important to remember that a plan is not written in stone; be ready to change and pivot if you see things are not working out or if new trends/market forces change the ground realities.

Hire the right people
62% of entrepreneurs choose not to have any employees at all – this is usually to keep costs low or to avoid incompetence or laziness creeping into the business. But the downside is that it limits business growth. You need to slowly and smartly start getting the right talent into your business – this largely depends on your needs and your ability to pay them. A good way to keep costs low is to tap into the gig economy and develop good working relationships with a group of freelancers.

Invest in marketing
Regardless of the size of your business, marketing is essential. You must keep aside a marketing budget and ensure that you continually invest in branding and advertising. For large expenses, I would suggest you approach alternative lenders like Mantis Funding for cash advances. I did this when I wanted to set up my website and do a burst of online advertising, and it was extremely helpful to have an outside source of capital.

Find a reliable source of capital
Close to 30% of small businesses fail because of financial problems! Running a business is expensive, and small business usually doesn’t have cash reserves to manage sudden changes. To stay in business, entrepreneurs must ensure a steady flow of capital at reasonable rates. I found Mantis Funding cash advances to be a highly effective and simple way to get hold of cash in short order. My recommendation would be to find a reliable alternative lender and develop a long term partnership with them.

Building a business and keeping it profitable is hard work, but it’s not as difficult as the statistics seem to claim! There is no reason for you to become a part of the negative statistics. With some intelligent business planning, operational agility, and a reliable source of capital, you can overcome most of the bottlenecks to success.