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5 Pieces of Advice for Small Business Owners this New Year

As we take on the new year, many small businesses are evaluating 2021 and planning for 2022. If you’re looking for some actionable advice and inspiration as you set goals and plans for the the new year, keep reading for our top 5 suggestions:

1. Being a “little fish” in your industry is a good thing — so long as you have a scalable business model and a contingency plan for growth. Check out this in-depth article by our CEO, Heather Francis, which details the benefits of keeping your business small.

2. Only work with vendors/partners that have excellent reviews and take compliance/industry regulations seriously. Your business is your baby, and you should only trust your baby with the most credible of folks.

3. Proactively think of what your clients may need or expect, then incorporate those solutions into your business model. Anticipate the next issue at hand and look down the road to see what other speed bumps may be coming. You know your client base better than anyone – so why are they using your product or service? What are their common pain points? How can you help them bridge their gaps? Ask yourself these questions, then incorporate proactive solutions into your processes and conversations. You want to be a resource to your clients, not just any other vendor. Think of their needs holistically and you’ll automatically be more in-tune with their emotions, fears, and expectations. 

4. Now is the perfect time to review your working processes and automate what you can. Consider your current business processes. What seems to be working for you right now? What’s not? What can you be doing better? What tasks are taking more manual work and labor than they should? Which processes can you clean up so you and your team members can flourish and reach peak performance?

5. Make your company culture a top priority. A strong work culture starts at the individual level. Team morale can’t flourish unless each team member is happy, comfortable, and engaged. Employee happiness is especially important these days as the workforce shortage presses on. 

It may be stressful to think of the investments you’ll have to make in the upcoming year when your business is still on the mend from the chaos of the past two years. Thankfully, at Elevate Funding, our specialty is support funding for small businesses

We do not provide loans – we provide Merchant Cash Advances (MCAs). An MCA is not a loan – it’s simply a way to get access to your future sales immediately. The MCA application process is simple and quick, and we are able to fund companies in as little as 24 hours. Plus, there are no restrictions on how you use the funds, and we do not check credit (for our standard product), charge outrageous fees, or require collateral.

If you need funding and wish to speak to someone now, please call us at 888-382-3945 or click here to send us an inquiry. One of our teammates will get back to you as soon as they are available.