StrategyDriven Managing Your Finances Article | How to Raise Money as a Business

How to Raise Money as a Business

StrategyDriven Managing Your Finances Article | How to Raise Money as a Business

Raising money is an important part of building and growing a successful business. Whether you need to raise money to fund a new startup or to expand an existing business, financing can be a complex process. With so many options available, it can be difficult to know where to begin or which financing option is best for your business.

According to a report by the National Small Business Association, 73% of small businesses that applied for funding in 2020 experienced financial challenges due to the COVID-19 pandemic. This significant setback shows the importance of securing financing to weather unexpected economic downturns.

What are some ways to raise money as a business?

There are several ways to raise money as a business, including:

  • Taking out a loan from a bank or building society
  • Seeking investment from venture capitalists or angel investors
  • Entering competitions to win prize money for your business
  • Crowdfunding through online platforms like Kickstarter or GoFundMe
  • Selling equity in the company through an initial public offering (IPO) or private placement
  • Offering pre-orders to your customers

How can I determine which method is right for my business?

The best method for raising money will depend on your unique business needs including your timeline, the amount of money needed, and the level of control you are willing to surrender to your investors. There are no right or wrong answers, and the right method for your business will depend on your specific requirements.

What are some tips for preparing to raise money?

To prepare for raising money, it is essential to be clear on your business plan. This plan needs to clearly outline your company’s goals, operations, and financial projections. 

You should also prepare some insights about  your market and competition. Try to build an understanding of the potential risks and challenges your business may face, as well as how you plan to tackle them. 

How can I make my business more attractive to potential investors?

To increase your chances of securing financing, you can focus on ways to make your business more attractive to potential investors. This can involve building a strong track record of success and growth. 

Demonstrate consistent revenue and profit growth, as well as collecting evidence of a loyal customer base and strong partnerships with other businesses or organisations.  Be sure that you can explain a clear and compelling vision for the future of your business, and to communicate this effectively to potential investors.

How can I manage my business’s funding effectively once I have raised it?

Before raising the money, try to have a solid plan in place for how you want to spend it. This includes establishing a clear budget, tracking expenses, and regularly reviewing financial reports to ensure that you are on track to meet your goals. Finally, it is important to stay focused on your core objectives and avoid taking on unnecessary risks or expenses.

You will also need to maintain open and transparent communication with your investors or lenders. They must be informed of your progress and any challenges you may be facing. 

What are some common mistakes to avoid when raising money as a business?

Some common mistakes to avoid when raising money as a business include:

  • Not having a clear plan or strategy for how you will use the money raised
  • Overestimating the potential success or growth of your business
  • Taking on too much debt or giving up too much equity in exchange for financing
  • Not communicating with investors or lenders, or manage expectations

How long does it typically take to raise money as a business?

It can take between a few weeks to several years to secure financing. For some products such as a cash advance loan, this may be available in just a few days or hours, but it often comes with a high interest rate. 

Other more sophisticated funding such as VC or angel may take months or years to come to fruition. The time it takes to raise money as a business will vary depending on the method of fundraising and the specific circumstances of your business. 

Factors that can impact the timeline include the size of the funding request, the specific requirements and processes of your investors or lenders, and the level of competition for financing in your industry.

What are some alternative sources of funding for businesses?

Some alternative sources of funding for businesses include:

  • Grants from government agencies or private foundations
  • Microfinance organisations that provide small loans to entrepreneurs in developing countries.
  • Corporate partnerships and sponsorships that provide funding in exchange for marketing or other benefits
StrategyDriven Managing Your Finances Article | How Can You Manage Your Small Business Finances More Effectively Using Loans?

How Can You Manage Your Small Business Finances More Effectively Using Loans?

StrategyDriven Managing Your Finances Article | How Can You Manage Your Small Business Finances More Effectively Using Loans?

Using loans effectively can be critical for any startup business. It can give you access to a lot of areas you might not have been able to explore before. There are a few different types of loans you might need to consider, and they can help you to fund your business correctly early on and encourage you to make the best financial decisions possible.

Why Are Loans Vital to Small Businesses?

Business loans are an option available to businesses to help with finances. Much like any other loans, they come with interest to pay, and there is also variable loan vs fixed to consider. Also like other types of loans, a business owner’s credit rating can be a deciding factor in whether a loan is approved or not, and it impacts the interest rate of any loan as well. Knowing this at the start can have massive repercussions for the future of your business, and can get you off to the best start possible by helping you to afford equipment and services, that you might not have done otherwise.

1. Using Loans to Combat Downtime

Using a loan to tackle the issue of downtime can be a good decision for any starting business. This can be due to what you can (or can’t) currently afford for either training your employees or getting better and more reliable machinery into the company. This can help you to get certain processes running more efficiently so that when there are any little hiccups, problem-solving doesn’t take hours out of your day. This kind of efficiency saves money in the long run, but it also costs money to get started – the kind of money you might not have just yet.

2. Using Loans to Automate Systems 

Automating repetitive operations can be important for saving you both time and money. This is because automation can firstly reduce downtime, and secondly, take a lot of pressure off of employees. This can make all the difference when you are starting, where everything is up in the air, more than a little chaotic, and everyone is putting in some serious hours. Automating long and laborious tasks, such as certain HR jobs and parts of project assembly, can help you to create a far more efficient business, and take a lot of work away from your overly stressed employees when it matters.

3. Using Loans for Internal Promotions

Internal promotions are cheaper than external promotions. They are also far better due to the very important fact that you are already familiar with your staff, and they already know the business – even at this early stage. It also increases employee loyalty throughout the company too, as other employees will know that they can improve their station within the company. However, you might need to get in a little extra money to cover the costs of mistakes and also make sure that your employee has the best start possible in their new position, such as getting them any new equipment they need, especially if the role is new in the company.

4. Using Loans to Help With Outsourcing 

Outsourcing is great for both new businesses and well-established companies. There are so many ways that your business can benefit from outsourcing. However, outsourcing can be very expensive, and getting the right service for your business might take a few tries to get right. You will find that by taking out a fixed loan, you will be able to trial a few services, such as IT, HR, and even marketing, to source the best solution that you can, which is exactly what you need to get a head start on the competition.

5. Business Intelligence 

BI software is a powerful tool for your company. However, like a lot of things in the business world, it can be expensive. You will find that by finding the funds to get the software up and running, you will get great benefits from it. It is an investment that can help to propel your business marketing, data analytics, and product design, and can help you generate ideas that will shape your future business.

To Wrap Everything Up

The right loan is a vital tool for any business, but critical for small or startup businesses. You will find that they can open doors to a huge number of new opportunities for your business, whether that happens to be software, services, or outsourcing. This can help you to build a better business from day one, and help you get the boost you need early on to establish to your customers that your business is here to stay, all while diligently managing your finances to make the best decisions for the future.

StrategyDriven Marketing And Sales Article | How to Ensure Your Business is Matching the Progress of Your Industry Rivals

How to Ensure Your Business is Matching the Progress of Your Industry Rivals

StrategyDriven Marketing And Sales Article | How to Ensure Your Business is Matching the Progress of Your Industry Rivals

Any shrewd and knowledgeable business manager, along with always ensuring complete legal compliance and the continuous quality of the products and/or services they provide, also has one eye on the performance of their close industry rivals.

So, whether you are such a company manager yourself or a business graduate yearning to learn more, then continue reading to learn how to ensure that a business matches its competitors’ progress.

Understand Your Rivals’ Value Proposition

Hopefully, you and the rest of your senior heads of department are already fully aware of the supreme importance of knowing your business and the products and services you provide inside out.

However, the first and most important step to match and, ideally, supersede your industry competitors is to know and understand them too.

The most effective ways of understanding your company’s competitors include the following:

  • Reviewing customer comments, feedback, and reviews of your rivals
  • Conducting research into their sales and marketing efforts
  • Becoming a test customer and going through a purchasing process yourself
  • Conducting a full review of their current website and social media pages

Look After Your Customers

Frustratingly, one of the biggest problems when a local business opens in the same area, and the same industry as your own company is the danger of valued and loyal customers switching to the new business instead.

It is your duty to your company to do absolutely everything in your power and then some to ensure you protect, indulge and secure said customers’ patronage time and time again. Luckily, there are several effective ways to do so.

Influential methods of heightening your customer retention rate include using customer accounts, starting a loyalty program, engaging with customer comments on social media, collecting feedback and actioning it, and launching a referral program.

Make the Move to an Eco-Friendlier Future 

Just a decade or so in the past, a business focused on ensuring sustainability across its supply chain and choosing to lower its carbon footprint wherever possible was firmly in the minority, both in this country and overseas.

Thankfully and frankly, not before time, businesses across the country now feel as if a move to an eco-friendlier future is expected and are, therefore, doing everything they can to be sustainable.

Digital Energy by 5 is a fantastic example of this, as digital energy can ensure manufacturing and other industries are smarter about their energy usage and make them more sustainable overall.

Update Your Company Image

If your company operates out of a physical retail store on the high street or else has a business in the local town, simple aesthetic improvements can make a huge difference to how you are both metaphorically and physically viewed by customers and clients alike.

Ensure the front of your company premises is enticing, modern, and clean, and your official website is regularly updated. Furthermore, ensure you are utilizing your social media pages for maximum results and that all posted content is uniform across the different sites.

Identify Your USP

Finally, your USP (unique selling point) is the one thing that quite literally differentiates you from your industry competitors.Logically, then, maximizing your focus on such differences would certainly be a good idea.

Invest time, both your and your employees, in getting to know why your regular customers choose to do business with you and the regular factors that keep appearing in customer feedback reviews. This way, you can ensure the aspect of your company that differentiates you from the rest is something that your customers want.

StrategyDriven Professional Development Article | A Guide to Master of Teaching Special Education Programs

A Guide to Master of Teaching Special Education Programs

StrategyDriven Professional Development Article | A Guide to Master of Teaching Special Education ProgramsYou’re ready to start your career as a special education teacher, but you need to figure out where to start. So, you’re looking for a guide that will give you all the information you need to make the right choice. Fortunately, this article have you covered!

Online vs. in-person programs

When choosing between an online Master of Teaching Special Education or an in-person program, there are some key pros and cons. These can help you to choose the best option for you.

An in-person program will likely require you to attend classes on campus. This can help you to gain valuable real-world experience. Some programs are also hybrids, requiring students to attend in-person classes and virtual practicums.

Although the in-person format may be convenient for some learners, it can also prove costly. However, there are ways to save money. You can rent or resell textbooks or buy digital courses. Another tip is to be aware of the costs associated with your housing and transportation.

While an online master of teaching special education may not be as fast as a traditional course, it has its benefits. For example, the curriculum may be more relevant to your career. Also, you can complete the coursework at your own pace, so you don’t have to take a semester off. In addition, if you are a working parent, an online program may be more convenient.

An excellent online master of teaching particular education program will allow you to learn about the legal definition of disabilities and effective teaching strategies. It will also teach you about students’ rights.

Job growth for special education teachers

The demand for special education teachers is growing. With an estimated 2.8 million school-aged children eligible for special education services, the need for new educators is excellent.

Teachers in this field must meet a variety of certification and licensing requirements. Some states require that they renew their license every two years. In other states, they must complete continuing education credits. A bachelor’s degree is often required, and a master’s degree can open up additional employment opportunities.

Typical salary ranges vary based on experience and educational level. Most teachers work full-time and during the traditional 10-month school year. They typically have a three-week break during winter and spring.

The most lucrative areas are densely populated urban areas. However, rural areas also have promising job prospects.

In the US, the Bureau of Labor Statistics projects 8% job growth for special education teachers from 2020 to 2030. This translates to a total of 28100 new jobs for the profession.

Several factors drive the overall demand, including the number of students with disabilities, the prevalence of preschool special education programs, and the need for additional school teachers. The demand is expected to increase as more children with disabilities are diagnosed and diagnosed earlier.


Highest-paying jobs for exceptional education graduates

If you have a master’s degree in teaching special education, you may be surprised at how many high-paying jobs are available. These positions are rewarding and can be highly fulfilling. Aside from earning a decent salary, teachers also enjoy a variety of benefits, such as great retirement benefits.

Many school systems are turning to hire qualified teachers. This is due to an increase in students with autism spectrum disorder (ASD). Increased awareness of ASD has led to the creation of more jobs in this field.

While it is true that some states require you to have a graduate degree to become a special education teacher, there are also alternative routes you can take. Some programs offer the opportunity to begin teaching right after graduating. You can learn about the field and receive your certification as soon as you finish the program.

In addition to teaching students, exceptional education professionals may provide case management and therapeutic services to students with ASD. They can also work in hospitals, rehabilitation centers, and other clinical settings.

The Bureau of Labor Statistics estimates that there will be a six percent growth in the unique education teaching job market through 2024. That’s 28,100 new jobs.

StrategyDriven Managing Your Finances Article | Creative Fundraising: 4 Deliciously Sweet Ways To Get the Job Done

Creative Fundraising: 4 Deliciously Sweet Ways to Get the Job Done

StrategyDriven Managing Your Finances Article | Creative Fundraising: 4 Deliciously Sweet Ways To Get the Job Done

When it comes to fundraising, it can be challenging to find unique and effective ways to garner attention and support. However, there is one deliciously creative option that has been gaining popularity—doing a Krispy Kreme Fundraiser.

By organizing a Krispy Kreme fundraiser, you can offer your donors a sweet and tasty incentive to support your cause. Not only will your supporters get to enjoy the mouth-watering treats that Krispy Kreme is known for, but your organization will also be able to reach its fundraising goals

Here are four deliciously sweet ways to get the job done:

1. Bake Sale

Bake sale is a fun and classic fundraising idea that never gets old. You can host a bake sale or do a Krispy Kreme Fundraiser with a variety of flavors and styles and sell homemade. Get creative in your offerings by using a variety of recipes, and ensure you deliver the sweet treats in bulk. This means you will have to pay for larger quantities of ingredients and easily keep your costs low. For example, if you are raising money for a local charity, you can bake some delicious doughnuts or cookies using ingredients from your local grocery store.

2. Candy Grams

Everyone loves a sweet surprise, and candy grams are great ways to get people excited about your cause and get them involved in the fundraising process. You can sell candy grams for a specific holiday, such as Valentine’s Day, Halloween, or any occasion. They can also be sold individually in wrapped foil or cellophane bags with a donation card for extra cash.

3. Chocolate Bar

Another creative way of getting a fundraising job done is the chocolate bar fundraising idea. The best part of this fundraising idea is that you can make it as interesting and simple as you want. You can set up a table with all different kinds of chocolate bars or give out little sample bags of various flavors, such as milk chocolate, dark chocolate, and white chocolate. Also, you can let people buy their own bars and pay for them at the end if they like them so much or if they want to avoid buying any. It’s easy to do, and everyone loves chocolate.

4. Ice Cream Social

Host a social event featuring an ice cream bar or an ice cream truck, and sell scoops for a set price. At the social event, you can offer a variety of flavors and toppings, such as sprinkles, hot fudge, and whipped cream. Also, you can offer different types of cones, such as waffles and sugar cones, so people can sample and choose their favorite before settling on their preferred flavor. This is a fun and straightforward way to raise awareness about your cause while providing something delicious at the same time.

Conclusion

Getting a creative fundraising job done does not have to be daunting. Thus, by adding sweet treats into your strategy, you can make the process more enjoyable and effective. The four ways highlighted above are the deliciously sweet fundraising ideas that are sure to capture the hearts (and taste buds) of your donors.