Don’t miss out; know this to obtain capital

Running a business can be hard work, and often, one of the biggest challenges you'll face is raising capital. It's enough to keep you up at night feeling overwhelmed and unsure of your next steps. It can seem like a never-ending process of finding investors, getting rejections from lenders, or just not having enough money to get to the next step. It’s a significant problem because, without enough capital, you cannot take advantage of opportunities as they arise and fall behind your competitors. 

Here are three quick steps to get solutions for capital problems: 

#1 

It’s important to remember people buy people. It would be best if you tried to build relationships with brokers or engage with accountancy firms and strategic partners who have them. Relationships with the types of people who can arrange capital quickly for you is critical. There’s no point in having a broker on file who takes 12 months to get you money. The opportunity is missed. It would be best to have somebody who can react, respond, and deliver quickly for you and your business. So, build strong relationships with brokers.  

#2 

To stay ahead of the game and make sure you have available capital when opportunities arise, it's crucial to keep your financial reporting up to date, meaning KPIs, dashboards and your year-to-date performance. It’s equally important to ensure that those in your business community, from employees to third-party consultants, understand the importance of these live accurate financial reports. That way, if you're ever looking for lenders/brokers/support networks at any given moment, they could get swiftly acquainted with where things stand today versus what happened several months ago. 

#3

Understand what it would mean to you if you were to miss out on an opportunity because nothing focuses the mind more than what could’ve been. Think about it: with just £100,000 you could generate yourself an additional £300,000 in revenue and bag a net of 50% that would pay back in less than a year. But you need to obtain the £100k up front. The scale of that opportunity is massive, so if raising capital is on your mind, know the importance and use that to focus.

If you want to increase the chances of successfully raising capital, take our advice on board and start building those relationships with brokers/lenders. 

AND WITH US.

 Make sure your whole team is on the same page with keeping accurate financial reports- it'll make a big impression when potential investors come knocking. And finally, don't be afraid to seize opportunities when they present themselves. It’s often in business. Timing is everything.