If there is any logical reason as to why your business fails then it is either because of poor financing or another reason could be loopholes in the way you manage or plan your operations. It has been observed that people might pay attention to planning and managing but it is the financing which they ignore. this is something which you do not have to do because financing is something which you do not do once. In fact you keep on doing it throughout your business life whether you are expanding or modernizing or even purchasing stationary for your business. What you need to understand is how to utilize your capital in a better way. One wrong decision can lead to the downfall of your business.First thing you need to analyze is whether you want to get financial help from outside resources in the form of loans. If you really are out of capital and you believe your business is in dire need of expansion or upgrading then you should decide whether you should delay the operations or whether you should step into external financing.If you believe that getting external financing is something you cannot survive without then you need to understand the types of finances that exist.Equity Financing: equity financing is when you sell your shares and get cash in return. It’s like selling half of your business rights in profit. You can attain equity financing from a variety of resources ranging from venture capitalists to even private investors. And the best about equity financing is that it will not seem act as a loan towards you until and unless your partner decides to draw his investment out.Debt Financing: under debt financing you get a loan with a guarantee that you will pay back the money. The guarantee can be in the form of collateral i.e. handing over your property, inventory or equipment papers to the lenders till you do not pay the entire amount. If you are unable to pay the lender has full right over your collateral assets.These are the basic two kind of finances that you get in the market. Now lets discuss the sources from where you can attain the loan.The first and the foremost place you need to consider while thinking about external financing is family or friends. If the amount of capital that you need is small and you believe can be fulfilled by your personal resources then you should go for them.The second best option you have is to consult US Small Business Administration for debt financing. SBA does not finance anybody but arranges for lenders according to your needs. No matter which market sector you belong to SBA will always help you.
What Are The Dangers of Using Facebook to Grow Your Business?
Several years ago, if you wanted to grow your business, Facebook was the most popular method. And many people still feel today that using this Social Media Platform is practical.
This thought process is nativity glorified. When Facebook launched in 2004, my friend called and invited me to join her. After about a year I finally did it. It did not occur to me that I could grow a business using it.
Several years later after I closed my brick and mortar business, I helped other small business owners develop and grow their business on social media. And like most consultants, I recommended and used Facebook. My small business owners were successful, so I was successful.
Later when I retired from small business consulting, I decided to open my doors to on-line marketing. And it was enjoyable as well as educational. Like so many other people, I learned from failure. Marketing anything on-line is challenging because of the scams.
When I finally earned my master’s degree from the University of Hard Knocks using Internet for my business adventures, I found that I too could use Facebook to grow and expand my bank account.
Using Facebook Groups, and building relationships was easy. I opened four groups of my own. All was going very well. Although I was not completely happy with Facebook it was producing results. And I did buy Facebook advertising occasionally.
Several of my business associates cautioned about changes on the horizon. But I was successful and did not listen. That was my mistake.
The point here is this; do not trust this platform. They have a unique way of selling our personal information, and an even more unique way of tracking our posts. (Yes, even our business content).
The insidious fact checking is primary. Mostly because the fact checking is not fact checking, it is a way to silence and control our content.
Be careful if you are building your business on this platform. At any moment they can disable your account. And much of the time you are not told exactly the reason.
I lost all my personal groups, plus my thousands of followers and my account. If I had only listened to my associates before this happened, I would never used this platform.
My business was moral, legal, ethical and above-board. I lost my Facebook account because my content didn’t fit their narrative.
I have opened a new account. But never again will I trust a platform that controls my content; business or personal.
Anyone who suggests that you build your business with Facebook is naive. The marketplace and business environment is not what it was five or tens years ago. Today, it’s about control. Your business is your livelihood; it’s your hard work. Think about it before you move forward. Perhaps you may want to make changes.