Funding a fast growing business. In Blackboard Fridays Episode 67, Jacob talks about Business Financials. Need this implemented into your business? Talk to the international business advisor who can do exactly that – Contact Jacob, Learn More, or Subscribe for Updates.
Cash flow pains can be fatal to fast growing businesses – it’s something that surprises many Scale Up entrepreneurs I meet, who thought sales would solve all of their problems and now wonder why everything suddenly feels so hard.
Last week [LINK] we talked about different funding options for new businesses; in this week’s episode hear our guest host expert Justin Dickinson from HOLO talk about the different options that become available as your business takes flight.
Like some extra cash in your flow? Watch the episode here.
Who is Jacob Aldridge, Business Coach?
“The smart and quirky advisor who gets sh!t done in business.” Back independent since 2019.
Since April 2006, I’ve been an international business advisor providing bespoke solutions for privately-owned businesses with 12-96 employees.
At this stage you have proven your business model, but you’re struggling to turn aspirations into day-to-day reality. You are still responsible for all 28 areas of your business, but you don’t have the time or budget to hire 28 different experts.
You need 1 person you can trust who can show you how everything in your business is connected, and which areas to prioritise first.
Welcome Blackboard Fridays. I’m Justin from Holo. Last time we spoke about Jacob’s business life cycle and the scaling up and the starting up and how your home can play a role in it. So this week, we’re talking about scaling up as ‘Using your Home for Business Part 2.’
You’re two years into your business, it’s up and running, it’s going well, you’re growing revenue, you got some profits appearing, you’ve got some staff and you need some more. You want to get bigger but you just need some more or the next phase.
Dollars and cash are going to play a big part of that because depending on the advice and the strategy that you’ve done with Jacob, you might be needing some funding for some organic growth or you might be needing some funding to grow your business for acquisitions but this time, you’ve got more assets to deal with.
You’ve got your home and you’ve got your business. How do we unlock the equity? You may remember in episode 66, we talked about getting to par and amazingly, this time again, two years on you’ve got to get to par.
So depending on your business and personal circumstances, you can use this business for a business line or maybe a credit card or maybe some invoice finance or some trade finance or some other business facility that will give you the cash to grow.
Alternatively, you could use your home in the manner that we did last time using this security for a business line, drawing up some additional funding on the line, restructuring the lines that you’ve got, or even just trying to find a better deal with a new bank that might give you some access to more cash, or a combination of both of that.
At this stage, you’ll have more options and this is why we think it’s even more important to review and get the advice as part of getting on par at this stage.
So when you’re in the scale-up stage and you need more funding, get to par, talk to the tops team at businessDEPOT, talk to Holo and good luck.
Want to learn more about how this can apply to your business? It costs nothing to chat:
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