This may be the year in which you go from startup to a successful company. Whether you’re looking to improve your sales from last year or launch a new product or service, all businesses aim to have growth and improve. There are many ways to achieve it, but here we share 3 that will make this 2020 your best year to date.

 

Do Not go Wrong with your Customers

Maybe you launched a new product in 2019 and demand grew incredibly. Now you are struggling to stay afloat and deliver to your customers. It is amazing to have a high demand, as long as you have a way to deliver.

The most successful startups went to large companies when they realized that they had to transform their orders into money. One way to achieve this is through factoring options. Factoring is a form of financing that allows a banking or financial institution to acquire your bills payable and anticipate the payment of them in exchange for a percentage or interest. You receive your money and this institution is responsible for charging the pending bill to your customers. Factoring gives companies the cash flow they require to continue their production and deliver their customers in a timely manner.

 

Don’t be Afraid to Borrow

Most technology companies seek to grow and tend to get carried away by experienced investors, seedlings of startups or others. Foreign investment can be very attractive for a startup, but many company do not consider that to receive this kind of capital should lose a part of the business that their hard to create.

Although investment capital can help you temporarily, don’t underestimate the cost of delivering part of your business. Many entrepreneurs try to avoid loans or financing to avoid borrowing and avoid difficult times, ironically it is in these difficult times when they need it most. In this highly competitive market, the companies that succeed are those that find creative ways to finance their growth.

 

Organize your Business

The first months of the year are a good time to get rid of what is not working in your business: processes, employees, suppliers, etc. It is a time to study your vulnerabilities and start the necessary infrastructure to ensure that you do not delay your deliveries and that you can always charge.

 

No matter how strong your sales or your profit margin are, without the right system of electronic invoicing, accounting and administration, you will constantly find yourself struggling to get ahead. Take the time to organize your business and if you don’t know how to do it, look for a professional to advise you.

The businesses that will inevitably succeed this year will be those that follow the road less traveled. So go beyond the obvious and find alternative solutions that take your startup to the next level.

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