Yes, you are your own boss. But that doesn’t mean you’re on your own – you need a funding partner!
Owning and operating a small business seems glamorous in concept. You are your own person – no boss to report to or timecard to punch. You own all of the successes and failures of the business and drive the direction and tone for your company. You don’t need to worry about being fired, impressing the boss, or working your way up the corporate ladder – after all, you’re the boss, right?
While these attributes may seem pretty compelling to those who haven’t ever owned their own business, being an entrepreneur isn’t necessarily an easier proposition than working for someone else. One of the pitfalls of being a business owner is the personal financial responsibility you have for the company. In the end, bills have to be paid, payroll must be met, and creditors will never stop calling if you find yourself falling behind.
One of the smartest moves a business owner can make is to develop a partnership with a trusted business lending company. Well before any problems arise, or any immediate needs for cash present themselves, you’ll want to put a plan in place to manage any potential financial issues your business may face. After all, managing cash flow is one of the most important factors in driving small business success.
Who should you turn to as a trusted partner?
Small business owners often experience stresses that are nonexistent in the normal workplace. If your business needs money, it is your problem. Some business owners turn to quick fixes when faced with an impending financial concern. These merchant cash advances and high-priced personal loans can actually do more harm than good. Still others try to secure business capital from a bank or credit union and find out firsthand how difficult it is to get a loan approved by these traditional lenders.
Countless successful small business owners today have benefited from collaborating with a financial partner who specializes in the type of business capital solutions that make a real and lasting impact on the business. The capital funding source is a vital partner to establish early – as more than 80% of successful small businesses must borrow money at some point. The problem is, more than 80% of these entities are rejected by banks when it comes time to borrow money. This opens up the need for non-traditional capital sources among small business owners.
The power of peer lending
Peer to peer lending has become a popular method of securing needed business capital, and no one does it better than Dealstruck. Imagine a forum where investors participate in funding your loan – offering you flexible underwriting and a quick turnaround time. You’ll have a loan decision in less than 48 hours and the money you need soon after that.
As a small business owner you’ll inevitably enjoy more control over your free time, better work/life balance, the potential for higher earnings, and the satisfaction that comes with creating something unique. Owning and operating a small business is challenging, but by aligning yourself with the right business partners and focusing on the true goals of the business, you’ll be much more likely to enjoy significant and lasting success as a small business owner in today’s economy.
Click to View Full Infographic
Embed this infographic on your site (Code):
<a href="https://www.dealstruck.com/news/2014/04/15/seeking-business-funding-small-business-owner/"><img src="https://d21ivzbwaq9418.cloudfront.net/wp-content/uploads/sites/2/2014/04/Dealstruck-IMI-Infographic-20140414-v3.jpg" alt="Pros and Cons of Being a Small Business Owner" width="700" style="max-width:90%; width:700px" border="0" /></a>