Merchant Cash Advance Steps in During Recession to Save Small Businesses

The global credit crisis has seen banks struggling with cash deficit, barely managing to stay afloat. Small businesses have obviously been badly hit with the drastic drop in consumer disposable income. With no money coming in from consumers, and banks not approving loans, small businesses have been shutting down or on the verge of it.

The Merchant Cash Advance (MCA) industry has saved many small businesses from closing down during the economic downturn. MCA providers focus on the future performance of the business rather than its current financial situation. If the business has an acceptable credit history and shows good credit card sales, business owners can get a merchant advance within 2 weeks to support their business.

The survival of small businesses is integral to the economy

Small businesses contribute to the U.S. economy in a big way. According to the 2004 census, there were at least 25 million small businesses in the United States, with 600,000 new businesses adding to the count every year. These businesses account for at least 50% of the employments in the private sector.

Closure of small businesses leads to the loss of wealth and employment in the economy. Lack of funds is forces small businesses to lay off employees or shutdown service. It is vital that small businesses have the necessary funds to survive this lean time and continue to generate revenue and employment.

With this end in mind, the U.S. government in 2008 and 2009 facilitating funding of banks to prop them up and encourage business loans. However, getting loans from banks is still very tough, even with good credit scores. The approval process is stringent and time-consuming. A failing business cannot afford the time lost in waiting for a loan when it needs funds urgently.

MCA providers have an efficient system that allows businesses to get the business advance fairly quickly. The funds can be utilized immediately to keep the business going while it adapts to the new economic environment. MCA providers have played a key role in keeping many businesses on their feet.

MCA industry – a successful player in the new lending market

The new lending market is seeing the rise of the MCA industry. Traditional bank loans are still an option for business financing but need to rethink their loaning strategy to be useful to struggling businesses. The MCA falls more costly than a bank loan, but it places trust in the business’ capability to perform. The MCA provider gets a percentage of the credit card sales and is with the business in good times and slow times. As MCA does not require posting of collateral, the business owner is saved the worry of losing personal assets.

The MCA industry is regulating itself to shakeout disreputable providers looking to rip-off desperate small business owners. Top MCA providers are setting a benchmark for other providers to ensure the MCA industry stays in business.

Small business funding is a lucrative industry. With the change in the lending market, more players can be expected to enter the arena to fulfill this need. Small business owners will have the option to choose from various financing sources. In today’s unpredictable environment, the MCA industry stands out for its convenient, fast and flexible financing options.

Tips On How to Make Yourself Memorable When Generating Small Business Leads

Do you remember the last time you went to a networking event or met with a group of other small business owners to improve your small business networking? Chances are you met a handful of people and came away with business cards or other identifying content. How well did you remember the faces and conversations that went with the names? How easily could you recall the business of an individual you met by their face and story alone?

The last thing you want to do is become one of those faces or business cards that leave absolutely no impression once the event is over with. No matter how well you think you captivate their attention while you’re speaking to them there’s a good chance that if you’re not branding yourself properly and making a memorable impression, those people you meet at small business networking events and groups aren’t going to remember you. Here are some tips on how to make you stand out and be memorable (in a good way) when networking with other business and industry leaders.

Be Distinctive – You don’t need to dress like a clown but a brightly-colored tie, a unique piece of jewelry, good cologne or even a certain grooming style can make you stand out in the memory of business partners in a good way. You certainly don’t want to only be remembered because of your hairstyle or scent but those are excellent memory triggers that mark your encounter with a great big flag. Don’t be outlandish to achieve this, but don’t let yourself blend with the crowd.

Be Engaging – It’s very important that when you network with others in order to build relationships that foster business leads, you need to stay engaged. It’s obvious when you don’t vest yourself in the conversation so make sure you listen well, respond promptly, maintain eye contact, etc. If you’re truly present and accounted for mentally then you will stand out among the other people who are trying to “check out” early.

Carry the Conversation – Never let a conversation be one-sided. It’s important to listen to the others while you’re focusing on small business networking and fostering a foundation for a future relationship but don’t just nod and smile. You need to do your share of carrying the conversation so ask thought-provoking questions. When you do this, you will undoubtedly stick out as one of the more engaging individuals. Your name, your face, your business and your interests will stick in the minds of those business owners when the day is done. Make an effort to take a genuine interest in the business owners around you.

Reinforce “You” with Keywords – The people you network with will be meeting a lot of people – that’s the nature of being a business owner. They won’t remember long descriptions of what you do so you need to break it down to a few key things about yourself. Name, Company name, Business, Product and Location. Use various points frequently and you’ll be easier to remember – like “Joe the Barber from Soho”

Contribute to the Group Conversation – Everything about you is important, and you want eyes on you but you can’t take the spotlight. Don’t hog the conversation, just join it. Think in terms of the power of words and choose what you say carefully. Saying one smart thing in front of the group will make you more memorable than 15 minutes of semi-conscious chatter. Create value for others and you create value for yourself.

You have to sell yourself just as hard as you sell your products. When you’re involved in small business networking for building business leads you need to approach those business owners like you’re making a sale. This is your brand, and your brand is more than just a logo. It’s an experience. If you focus on selling a memorable experience rather than a snapshot then you up the chances of creating a memorable experience. You are your business, so make an impression that won’t be easily forgotten.

Effective Lead Generation for a Small Business to Make More Sales

Ask any small business owner what are the main problems they face, and they’ll almost always tell you one of the biggest headaches is generating more leads. After all, no leads, no sales. And no sales means no revenue and profits. The strange thing is that many business owners think generating leads is difficult, when actually it’s fairly easy, as long as you follow a simple process and put in a bit of effort. You also need to make sure that you actually are doing lead-generation and not just saying you are and then trying to make a sale immediately.

Small business lead generation and how to get it right

So the first thing you need to do is make sure you really do have a lead-generation system in place, and that means forgetting about trying to make a sale immediately. This process of concentrating on lead generation will set your business apart from others in the market, because most other companies will try to make a sale straight away, and the ones that don’t will have a big advantage. When you generate a lead, you should concentrate on simply getting the prospect’s contact details and then building a strong relationship over a period of months or even years.

Why does this work so well? Simply because when the average prospect enquires about a product or service, she isn’t ready to buy yet, and the last thing she wants is for some salesman to start persuading her to buy. She wants information, and when she gets that, she begins to see you as the expert in your field, and therefore more likely to buy something when she’s ready. On the other hand, if you try to make a sale she’ll most likely back off, and look at another supplier, which is exactly the opposite of what you want.

Give something to get something back

So what is the best way to generate leads for the long-term? The easiest way to do this is to give a free gift in order to gather the prospect’s contact details. The free gift should be related to what you want to sell eventually, and can even include information in the form of a free report or eBook. Then the process is simply one of making regular contact with your prospects so that when they’re really ready to buy, they’ll most likely think of you.

So the next time you think it’s difficult to get leads, first make sure you are actually trying to get leads, and not make an immediate sale. Then put a system in place which collects prospect contact details and then follows up regularly. It may take weeks or even months to make a sale, but most people aren’t really ready to buy when they first contact you anyway. And over the long term this strategy will lead to more sales and revenue, which is the reason you want those leads in the first place.

Small Business Lead Generation

Small business lead generation doesn’t have to be a daunting task. You have an excellent product, your service is unlike any that many people will find in your type of business, and many people have an interest in what you do, but they just aren’t making the buy. This is where small business lead generation can help you out in gaining the interest of the prospects and turning them into customers.

Sometimes small business lead generation involves giving a little in order to receive a lot. A good example of this is doing something like offering a free guide to a particular service your business specializes in order to get the attention of potential customers. Anytime the word ‘free’ is thrown out there, you get the attention of all sorts of people. In turn, you are gaining leads and from those leads you gain customers.

Your small business lead generation strategy may also be something like offering a free download on your website (games, software) if visitors register their name and contact information on your site. If you can’t do downloads, you can give free gifts and do a “while supplies last” type of promotion to deter freebie hunters who have no interest in your business at all and just want the free gift. That is something you must be careful of when using this as a small business lead generation strategy. It works, but don’t be surprised if some of your freebies are gobbled up by those who have made it a career to post your site on the net as being a ‘freebie’ site. It is true that you may generate leads since freebie hunters need certain products and services too, but be aware that this does occur and use your best judgment since giving away free stuff is a very good small business lead generation tactic.

Another great tool in small business lead generation is once you have the leads, create a print newsletter in your store or an e-mail newsletter for those who have registered on your site. Keeping your current and potential customers up-to-date on your products and services is a great way to keep the same customers coming back over and over and that means they will tell their friends. The best small business lead generation strategy is when your current or potential customers see something in your newsletter that prompts them to call their friends and say “You know that such and such you were looking for? Well, XYZ Company has it and they have a great price on it.”

Through small business lead generation you are building relationships, retaining relationships, and opening yourself up to a whole new world of marketing strategies. And don’t forget, you want to do these things so that people will tell their friends and keep the word of mouth domino effect going strong. That is going to be the best small business lead generation you will ever find, but you have to give the dominoes a little push in the right direction first.