If you’re starting a business, you’re likely all too aware of the threat that 90% of startups fail. This is the figure we all fear when we decide to make a go of things. And, it’s what we keep in mind if our enterprise starts to struggle.
In truth, though, focusing on this figure isn’t helpful. In fact, you can rest easy that the businesses which do reach success ignore odds like these. The chances are that they had as many rough patches as everyone else. But, instead of lying down and accepting failure, they fought their way back from the brink. And, you can too, with the help of last-minute money making schemes like these.
Turn to investors
Investors have the ability to bring any startup back from the brink. All you need to do is convince them you have an idea worth investing in. Admittedly, this will be much tougher if you’re struggling. But, that doesn’t mean it’s impossible. Remember, investors know how tricky it can be to get started. They won’t hold initial struggles against you if they believe in what you do. All you need to do is find investors who seem like they would be interested, and perfect your pitch. Instead of dwelling on how your business is going at the moment, focus on where you imagine you could be. With a bit of luck, they’ll believe it enough to get behind you with financial backing.
Sell stocks and shares
You could also opt to sell stocks and shares to help boost your earnings. In some ways, this isn’t much different to selling to investors. It involves handing over a chunk of your company to others. For obvious reasons, many of us are hesitant to do this. But, there’s no denying that it’s a sure way to make money fast. By turning to companies like TD Ameritrade, you can soon see yourself back on secure financial footing. Bear in mind that, if you’re struggling, you may well have to sell stocks for low prices. But, this is a much better option than merely accepting defeat. While it may be the last choice, it still deserves a place on your list. Bear in mind that you should take the time to research the legalities before getting started.
Special offers for customers
If you want to keep things simple, you could always do some special offers on your services or products. Work out how low you could drop your prices, while still making a profit. Then, offer these discounted rates to first-time customers, or for a limited time. It may involve taking a small hit in earnings for a while, but this stands to boost your business. Plus, if those customers like your services, there’s more chance of them coming back for more later down the line. And, that’s not even considering the power of word of mouth and so on. You know how it goes; you hook them with low prices, then you reel them in.