If you are reading this article, you already know that you need your business to expand in order to survive. We've already covered a number of factors regarding business expansion. In this article, we'll be focusing on your human resources and how company culture is important for your business' growth.
Running a business is not particularly easy. If you are starting out many of you have begun as an owner operator and you handle everything yourself. Maybe you hired someone to build a website for you or a few other basic start-up costs, but mostly you are on your own. You maybe filled your garage with a pallet of products, or you have a little home office where you wear many hats
As an online retailer, you know it's a jungle out there. Whether your selling your own branded products or you’re an online seller of 3rd party manufactured goods, competition is fierce. Having a great product simply won’t cut it. The best performing online retailers recognise that it’s about placement, establishing yourself in the marketplace, and providing a quality experience for your customers across the life cycle and at every point of engagement. Of course, all of this takes money. Assuming you don't have a boatload of cash, let's look at two scenarios.
As your company starts to grow, to be able to handle any growth, you need quality people working with you. However, as hiring people is expensive, many companies avoid hiring until it becomes absolutely necessary. They only make the change when business activity exceeds capacity. The belief is that once the need is there, they can simply bring in people to meet the capacity. This is based on this idea that hiring people should be a no-cost scenario; you only hire when capacity can handle immediate increase in your expenses.
In order to start your business, you need some start up cash. Most likely you start by going to people that you know that might have some investment capital. Your first stop is family or friends. You've pitched them this great idea, and you either gave them a share of the business or you took it as a loan, promising that you'd pay it back. Family, if they have any money, are those most likely to have helped you out. With friends, it's a little tougher, but maybe they really liked your idea and wanted to come on board. (Of course, loans from friends are rarely a good idea if you want to keep those friends, but we won't go any further into that here). However you managed to do it, you got started.
We sat down and spoke with influence agents, who are inbound Marketing specialists and asked them about their experience of our white label funding platform.
The UK small business sector has been referred to as a sleeping giant and with access to finance we can awaken that giant.