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Platinum Rapid Funding Group
November 3, 2017

5 Tips on Growing From Startup To Empire

Platinum Rapid Funding Group is a company that was established in 2012 to provide financial input in the form of working capital for small or medium-sized businesses. This leading merchant cash advance company is committed to helping start-ups grow and become well-established business empires. Some of the most noteworthy features of this group include skilled manpower, integration of latest technologies, and propriety data. Here are the top five tips for growing a start-up into an empire as shared by Platinum Rapid Funding Group.

1. Treat Your Business Like Your Baby

In an interview published on Inc.com, Steve Jobs who was undoubtedly one of the most successful people in business talks about how a business should be handled like a baby. He notes that right from the time of conception to birth parents take specific measures to ensure that their baby is in good health and that all its needs are met. The same approach must be taken when it comes to nurturing a business. If you need professional advice on how to handle finances do not hesitate to get help. When the business does not seem to be moving according to expectations, talk to friends, relatives or colleagues that have already established successful companies because they are likely to provide the necessary input.

Nobody gives up on a baby just because of health problems or other shortcomings. This should be the same passion with which you handle your business. At the end of the day, the most successful business people are those who were determined to build their ventures regardless of the challenges that arose.

2. Cultivate a Team of Believers

In business, a single person can achieve a lot of success when they believe in what they are doing. However, building a team of believers is key to achieving exceptional success in business. Therefore, it is essential for you to take the time and build a team of believers. These individuals should be taken through a strict vetting process to ensure that they are able to bring a particular set of skills or knowledge to the table. Once you have a team show them by your actions that you really love what you are doing. This passionate approach to business is often contagious and will eventually rub off on your team members.

As you build, your team realizes that they are the most critical asset to your business. Treat with dignity and respect. Show that you truly appreciate the work they do. This will inspire them to be more productive and loyal to the course.

3. Set Goals and Achieve

One of the most common mistakes people make when starting a business is to work without a clear deadline. As a human being, you are naturally wired to procrastinate whenever possible meaning that you are likely to keep pushing tasks to a later date. To avoid this mistake be sure to create deadlines for every task you need to complete. Write down a date for getting a permit, buying assets, completing the infrastructure of the business, and any other thing that is necessary for the proper running of your business.

Another important thing to do is to set goals for your business. It is advisable that you write down some of the things that you want to achieve and give the outline to a friend or mentor who can then hold you accountable to your goals. The most successful businesses are those that have short and long-term goals. Short term goals may include setting targets for your business daily while long-term goals are things you want to achieve after 6 to 12 months of starting your venture.

4. Add New Ways to Obtain Revenue

Once you have established your business and have won the trust of a significant number of clients you should think about expansion. This can only be possible if you add new ways of obtaining revenue. A strategy you can use is in the form of up-selling or cross-selling. This basically means that you should convince your loyal customers to buy additional products or services that you may not have been offering before.

Because of the trust, you have already built, it is easier to convince your customers to subscribe to the new products and services. The best way for you to utilize this technique is by clearly explaining to your customers how they are likely to benefit from whatever it is you are offering.

5. Make Good on Your Promises to Customers

The last thing you want is to make a promise to your customers only to break it because you are unable to give the product or service as agreed upon. To be safe, you need to give promises that you are 100 percent sure you can fulfill. Start by making small commitments and set reminders to ensure you never forget anything. Once you have shown your ability to keep promises you are likely to get higher ratings when it comes to reviews by clients.

In case you are unable to fulfill a promise you made earlier, it is prudent to get in touch with your clients beforehand and explain the reason why you must adjust the agreement. This kind of courtesy is bound to help you build trust.

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