How to retain talent in your small business

Posted on by Kaylyn Perry

Small businesses often find it difficult to compete with larger businesses when it comes to attracting and retaining talent. If presented properly though, small businesses sometimes have even more to offer than large companies. From flexible schedules to an unmatched company culture, small businesses can definitely compete with large companies. And in some cases they may even be able to retain talent for less money. Of course, retaining talent is not all about the benefits, but the company too. This means that employees and future employees will need to have confidence in the stability and potential of your company. One way to give them confidence is to pay them on time. In order to do this, you may need to free up cash flow by using inventory funding. Below, we will discuss how to attract and retain top talent and conclude with one of the best kept secrets for inventory funding for small businesses.

How do small businesses attract talent?

Small businesses often have a hard time attracting top talent. They may not be able to offer the same salary or benefits as larger companies, and they may be located in areas with a limited pool of qualified candidates. However, they still have plenty to offer to attract top talent. First, they can offer opportunities. Most large companies started small. Those who were there first often moved up to the top. Second, small businesses may be able to offer more flexibility such as work from home or flexible schedules. Lastly, small businesses can sell the sizzle. Oftentimes, small businesses have some of the best work cultures, which is highly sought after by employees.

By implementing these strategies, small businesses can level the playing field and compete for the best talent.

Why small business talent retention is important

Small businesses are the backbone of the American economy, and talent retention is essential to their success. When employees leave a small business, it can be devastating to the company. Not only does it mean losing someone with institutional knowledge and valuable skills, but it can also be difficult to find and train a replacement. 

High turnover can also lead to a loss of morale among remaining staff members. Finally, replacing an employee can be costly, in terms of both time and money. All of these reasons underscore why talent retention is so important for small businesses. 

By creating a positive work environment and offering competitive compensation and benefits, small businesses can encourage their employees to stay put. In doing so, they can improve their chances of long-term success.

Strategies to retaining talent within your business

Did you know that 73% of employees would leave their job if offered a better opportunity? That’s a scary statistic for any small business owner! It’s no secret that larger businesses have an advantage when it comes to attracting top talent, but there are a few things small businesses can do to make themselves more appealing. Let’s take a closer look.

Offer flexibility for your employees

If you want to keep your best employees, you need to offer them more than just a paycheck. In today’s competitive job market, workers are looking for employers who offer flexibility and a good work-life balance. That means offering flexible hours, the ability to work from home, and unlimited vacation days. By offering these kinds of perks, you’ll make your company more attractive to top talent. And when your employees are happy, they’ll be less likely to leave for a new job.

Have extra perks for your employees

Many workers today place a high value on perks and benefits, such as flexible hours, telecommuting options, on-site child care, and tuition reimbursement. By offering these types of perks, you can make your company more attractive to prospective employees and also improve morale among your existing staff.

​​In addition, you may want to consider implementing employee retention strategies, such as mentorship programs and career development opportunities. By investing in your employees’ growth, you can create a strong sense of loyalty and encourage them to stay with your company for the long term.

Promote employees

One of the most effective retention strategies is to provide opportunities for employees to grow and advance within the company. When workers feel like they are stuck in a dead-end job, they are more likely to start looking for new opportunities elsewhere. But when they have a clear path for advancement, they are more likely to stick around. 

Additionally, offering opportunities for growth shows employees that you are invested in their development, which can further motivate them to stay with the company.

Proper training

There are a number of ways to help retain talent in your small business. One is to provide proper training. Employees who feel like they are constantly learning and developing new skills are more likely to stick with a company for the long haul. 

Incentives for good performance

Another way to retain talent is to offer competitive compensation and benefits. This includes not only salaries and bonuses, but also things like health insurance, retirement plans, and paid time off.

Another way to attract talent is to offer employees a stake in the company through stock options or profit sharing. This gives employees a sense of ownership and can incentivize them to work harder and smarter. 

Encourage feedback and transparency 

If you want to know how to retain talent, one way is to encourage feedback and transparency. Creating an environment where employees feel comfortable giving and receiving feedback helps to foster a sense of trust and mutual respect. It also allows you to identify and address problems early on, before they lead to employee dissatisfaction. 

Culture based on continuous learning

To understand how to retain top talent, small businesses can create a positive culture that emphasizes collaboration, creativity, and professional development. When employees feel like they are part of a team and are given the opportunity to grow, they are more likely to stick around. 

Provide learning and training options

As a small business owner, it’s important to invest in your employees and make sure they have the skills they need to be successful. One way to do this is by providing learning and training opportunities. This can include anything from formal education and training programs to on-the-job coaching and mentorship.

Commit to helping your employees reach their goals

If you want to retain talent in your small business, you need to commit to helping your employees reach their goals. Provide learning and training options so they can continue to grow and develop within the company. And be open to suggestions on how you can improve as an employer. When your employees feel valued and supported, they’re more likely to stick around.

How Kickfurther Can Help

Being able to offer employees a greater degree of flexibility can be a huge selling point for small businesses. But employees and future employees will want to make sure your business is stable. For retail and wholesale businesses, this may mean getting funding for inventory. Kickfurther is the world’s first online inventory financing platform that enables companies to access funds that they are unable to acquire through traditional sources. With Kickfurther you can fund millions of dollars worth of inventory at costs of up to 30% lower than the competition. It gets better though – you don’t pay until you start making sales. You’ll truly have the opportunity to create a payment schedule that works for your business. You’ll outline expected sales periods to create customized payment terms. With more than $100 million in inventory funded to date, Kickfurther can help you get funded within a day or even minutes to hours. If your brand sells physical products or non-perishable consumables and has revenue between $150k to $15mm over the last 12 months, you are a prime Kickfurther candidate. 

Interested in getting funded on Kickfurther?  Create a free business account, complete the online application, review deals, and get funded in as little as minutes!

How Amazon Inventory Funding Can Help Grow Your Business

Posted on by Kaylyn Perry

This is a guest post from eComEngine.

Building an Amazon business takes a lot of work, planning, and coordination. Many small and medium-sized businesses struggle to allocate resources to prepare themselves for set expenses and to finance their growth strategies.

You may have some goals in mind to help take your Amazon business toward its next growth peak, such as:

  • Creating or expanding product lines
  • Developing more efficient marketing campaigns
  • Onboarding new fulfillment partners to meet increased demand
  • Hiring more employees to support business growth

Finding the right resources to support your business expansion can set you up to succeed, but it isn’t always easy.

Oftentimes, business owners report that the greatest obstacle to growth is a lack of access to funding. Product-driven eCommerce businesses like those on Amazon have an additional financial burden created by the delay between when they purchase inventory and when they receive revenue from its sale. This problem is only compounded as the business grows. Thankfully, Amazon inventory funding can help resolve these cash flow and capital challenges.

What is Inventory Financing?

Inventory financing provides you with another channel to obtain additional capital for inventory purchases without having to reallocate funds from other parts of your business. From production to shipping and logistics, an extra injection of cash means businesses will be able to produce more goods without compromising the quality of their products.

 

With inventory financing, businesses can purchase the inventory that they need and scale their growth to accommodate new markets and explore new channels. Because brands make no payments on newly funded inventory until they receive it and it begins selling, they don’t need to worry about pinching costs and passing on other growth investments because all of their cash is tied up in an inventory order that won’t arrive and produce revenue for weeks or even months.

How Amazon Inventory Funding Works

Amazon inventory funding works by leveraging the resources of a financing partner to pay for inventory production, which is one of the largest expenses for most product brands.

The funding can be tailored to address your Amazon business’s exact needs. For example, you can look where the manufacturing, shipping, and sales timelines, along with order quantities and more, meet to create a custom funding and payback schedule that’s perfectly aligned to your cash flow.

The products that are produced will then serve as collateral for the financing. If you’re unable to repay the funding, the inventory can be sold to cover the debt and recoup the financing partner’s costs.

Inventory financing is particularly valuable for businesses that face significant delays between the time that they paid for inventory and when they actually receive payment. Other businesses that will benefit include those looking to place larger orders and receive volume-based discounts or that have multiple distribution locations. Inventory financing is ideally performed on a quarterly basis or another regular cadence to avoid the stock-out issues that can stall business growth and create additional costs.

Inventory Financing with Kickfurther

Kickfurther is an online inventory funding marketplace where brands access funding for new inventory (or can get reimbursed for recently produced goods). Kickfurther has served a number of Amazon sellers who were growing their sales, adding other distribution channels, or were otherwise looking for growth capital.

Why consider a private marketplace like Kickfurther? Markets respond, but bank interest rates don’t. Our marketplace brings together a number of funding sources that respond to your success and often engage at lower costs each time you build your track record of success in receiving and paying back funding.

Kickfurther funding goes directly to your manufacturer at the time you place an inventory order, and you make no payments until you receive and begin selling the new inventory. Other funding options take daily debits from your account before you receive revenue from new inventory, and traditional loans may have repayment schedules that begin immediately.

Kickfurther is different. On Kickfurther, you create a custom payment timeline based on when you’ll receive revenue, allowing you to order the inventory you need without impeding your ability to maintain financial flexibility while you wait for it to arrive and begin selling. Kickfurther thinks you should begin making payments on inventory after you receive revenue from its sale, not before.

What are the Benefits of Working with Kickfurther?

Working with Kickfurther means:

  • Up to 30% lower costs compared to competitors
  • Higher funding opportunities up to $5M
  • Getting funded quickly, often within days
  • Custom payment terms, with no payments until you start making sales

Interested in learning more about using Amazon inventory funding for your business? Create a business account today at Kickfurther.com to see a funding offer tailored to your business.

5 Marketing Growth Strategies for Startups

Posted on by Kaylyn Perry

There are a lot of different startup growth marketing strategies that can take your company to the top. However, not all of them will work for every business. In order to find the right strategies for your startup, you’ll need to do some strategic thinking and have a clear vision of where you want to go. You’ll also need to leave any fear at home as it may take some trial and error to bring your vision to life. 

Here are five marketing growth strategies that can help your startup grow and succeed.

What is growth marketing?

Growth marketing is a methodology used to accelerate growth for startups and businesses. It’s a data-driven approach that focuses on acquisition, engagement, and retention. The aim is to identify and focus on key areas that will have the biggest impact on growth. 

There are four main pillars of growth marketing: acquisition, engagement, retention, and virality. Acquisition refers to acquiring new users or customers. Engagement is about keeping those users or customers engaged with your product or service. Retention is about ensuring those users or customers continue to use your product or service over time. Virality is about getting users or customers to spread the word about your product or service. 

Startup growth marketing can be applied to any stage of the customer life cycle. However, it’s most commonly used during the early stages when acquisition is the main focus. It can be difficult to acquire new users or customers if they are not aware of your product or service. As a result, companies must work hard at attracting and retaining customers during growth stages.

If you’re looking to accelerate growth for your startup or business, then growth marketing may be the right approach for you. It is a data-driven methodology that can help you identify and focus on key areas that will have the biggest impact on growth.

Do startups need to have a growth marketing strategy?

In today’s business landscape, it’s widely accepted that startups need to have a growth marketing strategy in place if they want to be successful. After all, without a plan for how to acquire and retain customers, it’s very difficult to scale a business. 

However, there are a few key things to keep in mind when developing a growth marketing strategy for a startup. 

First, it’s important to have a clear understanding of the target market. Who are the ideal customers for the product or service? Once this is understood, it’s much easier to develop targeted marketing campaigns that will resonate with this audience. 

Additionally, it’s important to set realistic goals for growth. Trying to grow too quickly can often lead to disaster, so it’s important to set achievable milestones that can be reached incrementally. 

Finally, it’s essential to track metrics carefully and continually optimize the strategy based on what is working (and what isn’t). By following these guidelines, startups can create a solid foundation for sustainable growth.

5 Marketing Growth Strategies for Startups

There are a number of marketing growth strategies that startups can use to expand their businesses.

Expand your business location presence

One strategy is to expand your business location presence. This can be done by opening new locations or by expanding your current location. 

Diversify your services and products

Another strategy is to diversify your services and products. This allows you to appeal to a wider range of customers and to better meet the needs of your existing customer base. 

Know your competition

A third strategy is to know your competition. This involves understanding who they are and what they offer, as well as keeping an eye on their marketing efforts.

Tracking and monitoring your results

Tracking and monitoring your results is essential in order to identify areas where you need improvement.

Marketing your business online

Marketing your business online is a great way to reach a larger audience and to generate more leads. Make use of social media platforms such as Twitter, Facebook, and LinkedIn. These sites offer great opportunities for connecting with potential customers and promoting your business. 

Use search engine optimization (SEO) techniques to ensure that your website appears as high as possible in search engine results pages (SERPs). This will help more people find your site when they are searching for information related to your business.

Open up your business to franchise opportunity

Franchising can be a great growth strategy for startups. It allows you to expand your brand quickly and efficiently while also mitigating some of the risks associated with opening new locations. When done correctly, franchising can be a win-win for both the parent company and the franchisees. However, it’s important to do your homework before taking the plunge. 

Make sure you have a strong brand that is recognized and valued by consumers. You’ll also need to have solid systems and processes in place to ensure that each franchise location is up to your standards. If you’re prepared to put in the work, franchising can be an excellent way to fuel growth for your startup.

Tips for developing a growth strategy for startups

Any business, whether a startup or an established company, needs a growth strategy. Without one, it is difficult to expand and meet changing customer demands. Developing a growth strategy requires careful planning and execution, but the rewards can be significant. 

Know your value proposition

The first step is to clearly define your value proposition. What do you offer that is unique and appealing to potential customers? This could be a new product or service, or a different way of doing things. Once you know your value proposition, you can begin to develop marketing and sales strategies to reach your target market. 

Ensure you have enough inventory to allow growth 

It is also important to have enough inventory on hand to accommodate growth. If you are constantly running out of stock, it will be difficult to meet customer demand. Forecasting future demand can be tricky, but it is essential to have enough inventory on hand to keep up with growth. 

Understanding Your Target Market.

It’s important to have a clear understanding of your target market. What are their needs and how can your product or service meet those needs?

Building a Startup Team

You absolutely need to build a strong startup team. This team should be composed of individuals with complementary skill sets who are passionate about your product or service.

Analyzing the Competition.

You also need to understand your competition. Who are they and what are they doing? What are their strengths and weaknesses? By understanding the competition, you can develop strategies to position yourself in the market and attract customers. 

Conclusion

If you want to be successful as a startup, you need to have a clear plan for how you’re going to execute your growth strategy. You’ll also need access to the necessary resources – such as money. Startups that need working capital may struggle to qualify or struggle to afford the cost of borrowing money. In 2014, Kickfurther was founded by entrepreneur Sean De Clercq who faced the problem of affordable working capital for inventory. As a determined entrepreneur he committed to creating a solution for affordable working capital for startups and Kickfurther was born. 

Kickfurther is the world’s first online inventory funding platform that enables companies to access funds that they are unable to acquire through traditional sources. For companies that sell physical products or non-perishable consumables and have revenue between $150k to $15mm over the last 12 months, Kickfurther can help. We connect brands to a community of backers who help fund inventory on consignment and give brands flexibility to pay that back as they receive cash from sales. 

Kickfurther can help startups fund millions of dollars of inventory at costs up to 30% cheaper than the competition. With more than $100 million in inventory funded to date, Kickfurther can help you get funded within a day or even minutes to hours. 

Interested in getting funded on Kickfurther?  Create a free business account, complete the online application, review deals, and get funded in as little as minutes!

What channels will you use to reach your target market? How will you monitor and measure success? By keeping these things in mind, you’ll be well on your way to developing a successful growth strategy for your startup.

10 Effective Ways to Fund your Ecommerce Business

Posted on by Kaylyn Perry

eCommerce businesses are booming, but despite trends they may still struggle to obtain financing. From obstacles such as length in business to no physical office location, there are many reasons why eCommerce funding can be hard to secure. On top of that, if you do qualify it can be more costly than beneficial. So, the key is not only to find eCommerce funding you qualify for but that’s affordable too.

How funding helps ecommerce business

Having access to funding in the form of financing, venture capital, or even crowdfunding can mean the difference between getting your business off the ground and closing up shop. While eCommerce businesses don’t have to pay for the expense of a physical storefront, they still have their fair share of operating costs.

eCommerce businesses can use funding for a variety of business expenses including staffing, marketing, web hosting, equipment purchases, and inventory costs.

Financing can help you keep your inventory well-stocked even when funds are low, expand into new product lines, and purchase the equipment needed to manufacture even more products.

There are a variety of ways to fund an e-commerce business, which we’ll cover in more detail.

What are the best ways to fund an eCommerce business?

The best way to fund your eCommerce business will ultimately come down to your individual situation. As a business owner, understanding the options available can help you make educated business decisions. Let’s take a look at some of the best ways to fund eCommerce businesses.

  • Crowdfunding: Crowdfunding uses small amounts of capital from numerous sources to raise money for business expenses. Crowdfunding can be difficult to obtain but often does not need to be paid back, making it a common solution for startup business costs. Being featured on a crowdfunding platform also offers increased exposure to new businesses.
  • Grants: Small business grants are available from various sources including government agencies, state organizations and private corporations. The major advantage of business grants is that they do not need to be paid back. However, not all businesses are eligible, and they can be difficult to obtain, often requiring a great deal of paperwork.
  • Inventory Financing: Inventory financing is a specialized form of funding that can only be used for one purpose. Inventory financing is most often set up as a short-term loan or a revolving line of credit that allows a company to purchase products for resale. Both types of funding are secured by the value of your inventory as collateral. Since it’s a secured form of financing, it can be easier to obtain than many other options.
  • Equity Financing: Equity financing allows companies to raise capital through the sale of shares. It can be used for both short-term and long-term needs required for business growth. With equity financing, there is no loan balance to repay, but you must share a portion of your profits with investors. The thought of having to share ownership and control of the company makes equity financing an unattractive option for many business owners.
  • Friends and family: Whether you are just getting started or hoping to expand your business with new opportunities, sometimes asking friends and family to invest in your company can pay off. This option is best for minimal expenses that have a proven value to your business such as your initial equipment purchases or first inventory order.
  • Personal savings: One of the best ways to fund any business is to pay for all of the costs up front in cash. Although not many people are able to utilize this option, using your own personal savings is the most affordable way to grow your business without the need to pay back a loan balance or shell out extra money for interest.
  • Business credit cards: Business credit cards have an average credit limit of just over $56,000, making them a viable option for many expenses. Having access to a revolving line of credit is a very convenient and common way to finance recurring costs such as inventory needs or to pay for a large upfront purchase such as new equipment. Look for a card that has a low introductory interest rate offer with rates as low as 0% APR.
  • PO Financing: Purchase order financing functions as a cash advance for business owners to be able to fulfill customer orders. It’s different from a loan in that your suppliers are paid directly from your lender for the goods that you are reselling. Business owners do not have to worry about a monthly repayment since all fees are taken out upfront. While purchase order financing is very easy and convenient, the disadvantages include high fees and increased risk if your customer doesn’t pay.
  • Revolving line of credit: A line of credit works much the same way as a credit card, allowing applicants to borrow up to a certain amount. All credit cards are tied to a line of credit, but not all lines of credit are credit cards. Interest rates are typically lower on a line of credit than on a credit card and may offer higher credit limits to borrowers.
  • Business loans: One of the most common ways to finance eligible business expenses is to take out a business loan. Business loans offer some of the best possible deals on financing, with loan amounts reaching upwards of $500,000 and competitive interest rates. However, they can be difficult to qualify for, and can take many years to pay back.

For many forms of financing, you will need to provide the lender with documentation about your business and its solvency, including a business plan and financial statements. You may also need to demonstrate a minimum annual income from your business or meet a minimum personal credit score. In addition, the underwriting process can take several days or even weeks to reach a final loan decision. By turning to alternative forms of eCommerce funding you may be able to secure working capital faster and at a reduced cost. So where can you find alternative forms of eCommerce funding? At Kickfurther you can access working capital up to 30% cheaper than other options. Kickfurther is the world’s first online inventory funding platform that enables companies to access funds that they are unable to acquire through traditional sources.

How Kickfurther can help grow your business?

With Kickfurther you can fund millions of dollars worth of inventory at costs of up to 30% lower than the competition. It gets better though – you don’t pay until you start making sales. You’ll truly have the opportunity to create a payment schedule that works for your business. You’ll outline expected sales periods to create customized payment terms. With more than $100 million in inventory funded to date, Kickfurther can help you get funded within a day or even minutes to hours. 

Interested in getting funded on Kickfurther?  Create a free business account, complete the online application, review deals, and get funded in as little as minutes!

5 eCommerce Trends for 2022

Posted on by Kaylyn Perry

It’s hard to believe it, but 2022 is here – and halfway through at that! That means it’s time to start thinking about the eCommerce trends that will dominate the next few years. Here are five eCommerce trends for 2022 that are likely here to stay.

Top eCommerce trends for 2022

As the eCommerce landscape continues to evolve, businesses need to stay ahead of the curve to remain competitive. Here are a few eCommerce trends that are trending for 2022.

Chatbots to improve shopping experience

Chatbots are artificial intelligence (AI)-powered software that can mimic human conversation. They’re already being used by some businesses as a way to provide customer service, and they’re expected to become even more prevalent in the next few years. businesses can use chatbots to handle simple tasks like answering FAQs or providing product recommendations.

Chatbots can provide a more personalized and interactive shopping experience for customers. By understanding a customer’s preferences and needs, chatbots can provide recommendations and customized product suggestions. In addition, they can also answer questions and resolve issues in real-time. 

Chatbots aren’t the only artificially-powered trends that are expected to take hold in 2022 and beyond. Augmented reality (AR) is expected to become more widely used in eCommerce, allowing customers to “try on” products virtually before making a purchase. This could be particularly helpful for fashion businesses, but it could also be used for things like furniture and home décor.

Growing adoption of voice search

Voice search is expected to become more popular in the coming years as people look for ways to simplify their lives. With voice search, customers can easily find what they’re looking for without having to type out keywords or navigate through menus. 

Sustainability 

As consumers become more conscious about the environment, sustainability is expected to become a key factor in purchase decisions. Businesses that focus on sustainability will be better positioned to win over eco-conscious shoppers. 

Optimized mobile shopping experience

The growth of mobile commerce has been one of the most talked-about trends in recent years, and it is only set to continue. Customers are becoming more comfortable making purchases on their mobile devices, and businesses need to ensure that their eCommerce platforms are optimized for mobile. In particular, responsive design, fast loading times, and easy navigation will be key elements of successful mobile commerce sites in the future.

With more people shopping on their smartphones, it’s essential for businesses to provide an optimized mobile shopping experience. This includes a user-friendly interface, fast loading times, and easy checkout process, to name a few key components. 

Social commerce

In recent years, social media platforms have increasingly been used as a sales channel, with customers using them to discover new products and make purchase decisions. This trend is only set to continue, with more businesses using social media to sell their products and services. In particular, Instagram and Snapchat are likely to be key platforms for social commerce in the coming years.

Personalization

With the increasing availability of data, businesses will be able to personalize the shopping experience for each individual customer like never before. This could include everything from personalized product recommendations to custom-tailored emails and ads.

Customers increasingly expect businesses to tailor their products and services to their individual needs and preferences. As a result, personalization is set to be a key trend in eCommerce in the coming years. Businesses will need to use data such as customer purchase history and demographics to personalize their offering and create a unique customer experience.

Biggest challenges eCommerce businesses face 

One of the biggest challenges that eCommerce businesses face is building trust with potential customers. eCommerce businesses must prioritize cybersecurity for the protection of customers and their reputation. A breach of security can not only risk customer information but it can be costly too. As a consumer if a website appears unsafe or illegitimate in any way, they may immediately lose confidence and make their purchase elsewhere. 

Another challenge that eCommerce businesses face is competition. With so many businesses selling similar products online, it can be hard to stand out from the crowd. Finding unique selling points and marketing strategies is essential for attracting and keeping customers. Making information about returns, quality of product, and other encouraging selling points easily accessible can help keep customers on your site. Customers can easily compare products, prices, shipping, and company policies online, so make sure yours are competitive and attractive to customers. 

Next,  eCommerce businesses must excel at customer service. This is easier said than done with no human interaction. You must find ways to engage the customer and make them feel important without human interaction. You’ll also need to provide them with the help and support they need online. Chatbots can be helpful, but personalize them as much as possible. With an obvious computer interaction customers can become more irritated and quickly look for a better online shopping experience. 

Finally, fulfillment is always a struggle. With such a huge marketplace, you may be overwhelmed with more orders than you’re prepared for. Therefore, it’s important for eCommerce companies to stock plenty of inventory. In addition, they should also have efficient inventory tracking methods in place. Lastly, they’ll need to find a way to deliver orders as quickly and efficiently as possible. Be sure to invest plenty of time into setting up inventory systems before launching.

Will eCommerce continue to grow in 2022?

The eCommerce industry has seen unprecedented growth in recent years, thanks to a combination of factors such as the advancement of technology and the commitment of companies. With some of the best shopping processes being delivered online, customers are taking advantage of eCommerce shopping. This trend looks set to continue in 2022, as more and more consumers embrace the convenience and flexibility of online shopping. 

In addition, the ongoing pandemic is likely to accelerate the shift to eCommerce, as people increasingly turn to the internet for their shopping needs. With all of these factors considered, it is safe to say that e-commerce should continue to grow at a healthy pace in 2022.

How Kickfurther can help

In order to stay ahead of the curve and meet ecommerce trends 2022, consider using Kickfurther fund inventory for your eCommerce business. For companies that sell physical products or non-perishable consumables and have revenue between $150k to $15mm over the last 12 months, Kickfurther can help. 

So who is Kickfurther?

Kickfurther is the world’s first online inventory funding platform that enables companies to access funds that they are unable to acquire through traditional sources. We connect brands to a community of backers who help fund inventory on consignment and give brands flexibility to pay that back as they receive cash from sales. With Kickfurther you can fund millions of dollars worth of inventory at costs of up to 30% lower than the competition. Compared to traditional lending methods such as bank loans, Kickfurther is much more eCommerce business friendly. As we mentioned earlier, stocking plenty of inventory will be critical to survive in the eCommerce marketplace. However, inventory can deplete cash flow. Inventory can also be expensive to hold. For these reasons and more, using Kickfurther to secure working capital for inventory can take your business to the next level. All the while, satisfying customers along the way. 

Interested in getting funded on Kickfurther?  Create a free business account, complete the online application, review deals, and get funded in as little as minutes!

5 Ways to Improve your Cash Flow

Posted on by Kaylyn Perry

Cash flow is at the core of every business. If it’s struggling in any way it’s likely to impact performance in some way. Businesses are always wondering how to improve cash flow. For retailers and wholesalers, inventory is one of the largest hang ups for healthy cash flow. Therefore, inventory financing is one way to improve cash flow. 

Why is cash flow important for small businesses?

Cash flow is the lifeblood of any small business. It’s the money that comes in and out of a business on a daily basis, and it can make or break a company. A business needs cash to pay its bills, expand its operations, and take advantage of opportunities as they arise. 

Without a healthy cash flow, a business will quickly find itself in financial trouble. That is why it is so important for small businesses to carefully manage their cash flow. By tracking where the money is coming from and where it is going, businesses can make sure they always have enough cash on hand to meet their needs. With proper management, a small business can ensure its long-term financial health and stability.

How proper management of cash flow impacts your future business 

Many small businesses fail within the first few years due to a lack of proper management of their finances. 

One of the most important aspects of financial management is cash flow. Cash flow is the amount of money that is coming in and going out of your business. In order to maintain a healthy cash flow, it’s essential to keep track of all incoming and outgoing funds, as well as to have a plan for what to do if there is a shortage of cash. You must know where money is going. Proper management of cash flow can help you avoid financial problems in the future and ensure that your business is able to thrive.

Understanding how to improve cash flow is essential.

Top ways to improve your cash flow

Maintaining a healthy cash flow is essential for any business. Here are some top tips to help improve your cash flow.

Anticipate future needs

Review your pricing strategy. Make sure you are charging enough to cover your costs and generate a profit. Stay on top of invoicing. Send invoices out as soon as products or services are delivered, and follow up on any outstanding payments promptly. 

Ensure you have enough inventory and be prepared

Take inventory of your current stock and assess how much you will need to meet customer demand. Next, create a production schedule to ensure you are consistently producing goods. Finally, create a system for tracking inventory levels and reordering stock as needed.

Improve accounts receivables

 A/R is an important part of a company’s cash flow, and it’s important to keep it under control to avoid problems down the road. Make sure you’re invoicing your customers promptly. The sooner you send out an invoice, the sooner you’ll get paid. Follow up with customers who haven’t paid on time. A simple phone call or email can often prompt them to take action. Finally, offer incentives for early payment, such as discounts or extended payment terms. 

Utilize inventory financing

By using inventory financing, you can borrow money based on the value of your inventory, which can help you stay on top of your cash flow. This way, you can keep your business running smoothly without worrying about sudden unexpected expenses. In addition, inventory financing can help you take advantage of bulk discounts or seasonal sales.

Consider renegotiation of service contracts

Negotiate payment terms with suppliers. Where possible, extend payment terms to give yourself more time to generate revenue.

Consider leasing equipment vs. buying

For businesses, having the latest and greatest equipment is important to maintain a competitive edge. However, equipment can be expensive and it’s not always possible to stay on top of the latest trends without breaking the bank. 

Leasing equipment is a great way to get the latest technology without tying up your cash flow. When you lease equipment, you make monthly payments instead of paying the full purchase price up front. This can free up money that can be used for other expenses, such as inventory or marketing.

Re-structure your payment operations

 With the right tools and processes in place, you can streamline your payment operations and stay on top of your cash flow. Here are a few tips for re-structuring your payment operations:

First, make sure you have a clear understanding of your company’s financial picture. Know your monthly revenue and expenses, so you can always have a handle on your cash flow. Second, put together a team of trusted individuals to manage your payment operations. This team should include an accountant or bookkeeper, as well as someone with experience in accounts receivable and accounts payable. Finally, implement strong internal controls to safeguard against errors and fraud.

Keep close monitoring of where your money is being spent

Keep a close eye on expenses. Review your expenses regularly to ensure you are not overspending.

Utilize technology

 By using apps and software to track your income and expenses, you can get a clear picture of your financial situation at any given time. This information can be incredibly valuable in terms of making decisions about where to allocate your resources. Additionally, online banking and accounting tools can make it easier and faster to manage your finances, freeing up more time to focus on running your business. 

Consider looking into financing options

Many businesses choose to finance their operations with a line of credit or a loan. This can give you the flexibility to make large purchases when necessary and to smooth out your cash flow when revenue is down. However, it’s  important to remember that loans need to be repaid, with interest. As a result, you will need to carefully consider whether taking out a loan is the right decision for your business.

If you do decide to pursue financing, there are a number of options available. You may need to think outside the box to find a financing option that’s affordable and works for your business. While you may be able to obtain financing through a traditional bank or credit union, that may not be the best option.

How Kickfurther can help

Inventory financing can help improve cash flow substantially. However, you will need to make sure that inventory financing is affordable and will benefit your business in the long-term, not just the short-term. One of the biggest challenges of inventory financing are the requirements and the cost. Entrepreneur Sean De Clercq was once in your shoes; hopelessly searching for an affordable way to grow his company. In 2014, he founded Kickfurther. In true entrepreneur fashion, he found a solution for a major problem business owners are facing. He created a company that helps businesses get affordable inventory financing with less obstacles. Kickfurther is the world’s first online inventory funding platform that enables companies to access funds that they are unable to acquire through traditional sources. For companies that sell physical products or non-perishable consumables and have revenue between $150k to $15mm over the last 12 months, Kickfurther can help. We connect brands to a community of backers who help fund inventory on consignment and give brands flexibility to pay that back as they receive cash from sales. 

Grow your business with Kickfurther

With Kickfurther you can fund millions of dollars worth of inventory at costs of up to 30% lower than the competition. It gets better though – you don’t pay until you start making sales. You’ll truly have the opportunity to create a payment schedule that works for your business. You’ll outline expected sales periods to create customized payment terms. With more than $100 million in inventory funded to date, Kickfurther can help you get funded within a day or even minutes to hours. Kickfurther can help supply your business with the working capital it needs to flourish into the company you’ve been dreaming of.

Interested in getting funded on Kickfurther?  Create a free business account, complete the online application, review deals, and get funded in as little as minutes!