Win Market Share
"If you don't take care of your customers, somebody else will."
This is a true statement with much more to it. It actually gets worse.
You have growth opportunities available, but you can't take advantage of them because you don't have the necessary working capital. Your customers want more from you, but you can't help them now. 'Maybe later.'
The truth is that after investing much time and money in gaining their trust and increasing their interest in your products or services, you have no choice but to turn them away.
Competitors will not wait for you and they surely will take advantage of the situation and steal those customers, one by one. If you find yourself losing market share because of lack of working capital, contact us today to see how you can change this.
Now imagine that you finally get that line (that the bank has been promising for years) and you contact your client to "get him back."
It will be very difficult to get the client back even if your competitor does a barely 'OK' job. Heavy discounts and marketing might not be enough to tilt the scale back in your favor.
- Lesson 1: It's much easier and cheaper to keep your market share rather than try to regain it. Ample working capital helps you protect your market share and keep your current customers satisfied.
It actually gets better...
With a healthy working capital, you can grow your company and take advantage of opportunities. Entrepreneurs frequently tell us that if they had enough working capital they could grow their companies by 50%, sometimes double or even triple their sales.
To the extent that you can grow your company and keep your overheads more-or-less constant, it is obvious that the additional gross revenue will go to your bottom line.
The shareholders of the company can now decide what to do with that additional net profit, but one of the options is certainly to increase your marketing and sales efforts or even to buy a competitor. Any of these options can dramatically increase your market share and bottom line.
- Lesson 2: Market share is there to be taken.
If you have the opportunity to take your company to the next level, call us for a no obligation discussion of how we can get you funded by next week!