by ARTIS COMMERCIAL CAPITAL | Oct 18, 2022 | Blog
Even before you launch a business venture, you need to plan. Once in business, the task of planning doesn’t stop. As your business evolves, its goals may change; your vision for its growth and profitability may change along with it.
Come Up with a Good Plan
A good plan accounts for a number of things, the foremost of which are goals for your venture. Good goal setting is a balance between being vague and simplistic versus being too far out of reach. The key is to make your goals and objectives specific, achievable, and moderately challenging.
Here’s an example. You have built a rare coin business and do most of your sales online. You are thinking of opening up a physical store location as well. That idea by itself is too vague. A specific achievable goal would be to find a good location and establish your business within it during the next six-month period. In order to do that you determine that you need about $50,000 in working capital to execute the plan.
Organize Your Human Resources
Don’t forget that no business person operated on an island. Seek out advice, opinion, and financial help from others as needed. Continuing in the example of a coin shop, check with professional numismatic organizations for people who have done the same. Visit shops in other cities to see how they run their operation. Find professional financial help as needed if you don’t have the capital your need.
Consider Your Financial Situation
An achievable goal such as opening up a brick-and-mortar store will require some funds to get the ball rolling. How are you set for that? Can you cover the rent and security that you will need? Are you planning on hiring any employees? How will you pay for your initial numismatic inventory?
Artis Commercial Capital
As your funding needs become clear, consider partnering with Artis Commercial Capital. They have a full suite of financing options for the small business person. They can suggest the best one for your business goals.
by ARTIS COMMERCIAL CAPITAL | Oct 11, 2022 | Blog
Bridge loans are financing options that provide short-term loans for a variety of purposes. Homeowners often use bridge loans to buy new homes while they are still awaiting the finalization of the sales of their previous homes. Companies in various industries use bridge loans so they can meet their expenses until customers pay in full. Here is some information to help you determine whether a bridge loan will meet the needs of your business.
The Basics of Bridge Loans
Bridge loans offer a short-term financing option of six to 12 months that bridges gaps in funding. For the purchase of real estate, they bridge the gap for homeowners so they can place a down payment on the new property before finalizing the sale of the previous home. For businesses, bridge loans keep cash flow strong while they complete projects or fill orders until they can then obtain final payments from their clients.
Uses for Bridge Loans
As a financing option, bridge loans make it possible for companies to continue to operate while they undertake large projects. For instance, you can use this funding to pay the salaries of your employees, obtain needed materials and inventory, purchase and repair equipment, upgrade technology, and bid on and prepare for future jobs. You can accomplish all this while keeping company cash flow strong.
Advantages of Bridge Loans
Whether you are purchasing real estate or completing company projects, bridge loans provide you with an effective method of meeting your expenses. Because they are generally provided by alternative lenders, you can have immediate access to the cash you require by means of a swift application and funding process. This will provide you with the finances you need to finish projects, handle any unexpected expenses, pay your personnel, and prepare for upcoming work.
For more information and advice on the financing option of bridge loans, get in touch with Artis Commercial Capital.
by ARTIS COMMERCIAL CAPITAL | Oct 4, 2022 | Blog
The disruption of supply chain distribution due to global events can be devastating for consumers and businesses alike. However, with ingenuity, planning, and a shift in focus, your company can survive and even prosper despite supply chain instabilities. Here are some strategies to help you accomplish this.
Research the Situation
When your business’s supply chain distribution becomes disrupted, find out exactly why this has happened. If only one vendor is affected, you may be able to find another that can fill the gap. However, if the problem is more widespread, it will take longer to resolve.
Share What You Know
Be sure to clearly communicate about what is happening with employees, shareholders, and clients. Share whatever details you know, acknowledge the hardship it has created for them, and apologize for any difficulties they might be experiencing.
Prepare a Plan
Instead of dwelling on problems caused by the disruption of your supply chain distribution, work on a plan that will minimize the negative impact and even help your company move past it and grow. Consider things you can do and resources you can allocate that will bring about swift improvement.
Emphasize Customer Service
If some parts of your company have been inevitably affected by supply chain difficulties, focus on other aspects. Consider improvements you can make in your business practices. One area you can zoom in on is customer service. Tending to the needs of your customers will help to inspire long-term loyalty.
Practice Self-Care
When your company is going through a crisis, it is easy to lose sight of your personal needs. However, it is imperative that you should get enough rest, exercise, and recreation so that at work you are functioning at full strength.
Look to the Future
Besides dealing with present difficulties, use this experience to better prepare your company for future disruptions. Acquire effective software for supply chain management and inventory tracking. In addition, be on the lookout for discounts so you can increase your inventory, and seek out alternatives to your present suppliers.
For more advice on growing your business despite disruptions to your supply chain distribution, contact Artis Commercial Capital.
by ARTIS COMMERCIAL CAPITAL | Sep 27, 2022 | Blog
There’s a common misconception among business owners that loans are good and leases are bad. In reality, there are many factors you need to consider before deciding which option is right for your business when it comes to equipment. Both loans and leases are financial tools with different pros and cons. You may be surprised to know that in many situations, equipment leasing can be the better choice for your business.
Factors To Consider When Deciding Between Equipment Leasing and Equipment Loans
One factor that can affect your decision is the amount of available working capital you have every month. Another factor is your credit score. You also need to consider how long the equipment you need will stay current. Will you need to upgrade it in a few years?
Finally, think about the value of owning that particular piece of equipment. Is it something that is going to last for 20 years or more, providing decades of high-quality service?
Down Payments
One of the biggest differences between equipment loans and leases is the size of the down payment you need. Many equipment leasing options provide 0% money down or a small down payment. You can get the equipment you need with minimal hassle and money investment.
With loans, you often need to plan for a down payment of 10–20% or more to get the best interest rates. For a piece of equipment worth $150,000, that would mean having between $15,000–$30,000 ready to go.
Upgrades
Equipment leasing is often the financing method of choice for technology. If your business wants to buy equipment that is constantly changing, you have to consider when it will be worth it to own the item after 5–10 years.
With a lease, you can upgrade at the end of every lease term, or every 2–3 years. When looking for high-tech software, computer equipment, and other state-of-the-art equipment, leasing is often the way to go.
Working Capital
Few things are as important to small businesses as working capital. It’s literally money in the bank for a rainy day. Your working capital helps you keep your business running smoothly, purchasing inventory and handling payroll.
If you have cash flow issues, equipment leasing is better because the monthly payments are generally much lower. That helps you put your capital where you need it without problems.
Whatever type of financing you choose, it’s obvious that your business needs equipment. Using all of your company’s savings to purchase equipment isn’t a wise idea because it leaves you without funds for emergency needs.
by ARTIS COMMERCIAL CAPITAL | Sep 20, 2022 | Blog
Every startup comes from humble beginnings, even corporate entities that are now globally recognized. New ventures must focus on business growth to rise to the next level. By engaging in methods proven to put young ventures on solid footing, expansion and heftier profits become more likely.
Be Humble
Humility is a quality that every business leader needs. Hubris can only get you into trouble. The moment you start assuming you know everything, your growth potential turns limited. Treat your job performance like you would any other employee’s. Allow staff to weigh in on your performance, assuring them you’re open to frank assessments. Another methodology is using anonymous comment cards. What matters is that you open avenues of communication. Also, don’t be afraid to seek advice from colleagues or occasionally reference an introductory business manual. There’s no shame in brushing up on basics.
Stay Consistent
Customers want uniformity with the products and services they purchase. Any change may worry them that the positive experience they’ve previously enjoyed will never repeat. Provide reassurance they can trust your company to deliver exactly what they desire, time after time. When training sales representatives, stress the importance of performing each task the same and craft standard operating procedures that facilitate this goal. Precede product rollouts with informational campaigns to increase customer comfort levels.
Promote Online
Advertising campaigns are always important. Without promotional efforts, you can hardly expect new customers to find you. Traditional outlets, such as radio and television, are generally too expensive for green operations. Thankfully, there’s the internet. Make use of social media and design posts that spread the word far and wide about what you offer. Not only is it affordable, but it’s easy, too. Should you feel uncomfortable with the technological aspect of online promotion, draft a tech-savvy person to helm the project or assist you with tips and tricks.
Get Frugal
How much profit you make comes down to subtracting what you spend from the dollars you take in. Reducing spending always increases your bottom line. Examine your operations with a critical eye for needless expenditures. For instance, replacing supplies with less expensive brands can save thousands over extended periods. Pay attention to every line item, even those that are seemingly insignificant.
The business growth your company experiences depends on how much energy you invest into making it happen. Pay attention to these vital business concerns when building your brand.
