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Business growth comes in a variety of shapes. For business owners, establishing SMART goals for the future can help track progress and drive the business in the right direction, whether they want to focus on their customers, their digital infrastructure, their employees, or their cash flow.
Introduction: How can I elevate my business growth in 2022?
But a business owner can also consider elevating the company fund access rather than its market position. Diversifying fund sources can protect a business in the long term and provide protection in the event of unexpected fluctuations in the market.
Indeed, growth requires stability, which means that a business must secure its capital before moving to the next level.
Here are smart tips to elevate your business finances, so you can plan for growth, acquisition, or any other big project safely.
Consider blockchain technology
Non Fungible Tokens, or NFTs for short, are taking over the digital world. NFTs utilize the blockchain network, aka the technology at the heart of cryptocurrency. The blockchain technology provides security to digital assets, making them unique, purposeful, and identifiable, where NFTs get their value.
Recent NFT purchases have seen NFT artists sell their creations, including popular memes for several hundreds of thousands of dollars. Currently, the most expensive NFT art was sold for $69 million at Christie’s in March 2021. For companies, it’s a unique opportunity to monetize digital creations, such as using NFT for art, marketing, marketplace, and even the Metaverse.
While NFTs aren’t suitable for all business types, the technology is expanding rapidly to support assets from a variety of industry sectors.
Purchase commercial properties
One of the most expensive investment strategies for every company is to own their premises. Commercial properties require constant maintenance and investment to remain attractive and popular. Additionally, a lot of businesses are left unable to purchase a property in their preferred location due to financial and availability reasons.
But, because a commercial landlord could be advantageous if you choose not to use the premises for your business. Indeed, commercial properties can become shops, offices, or even co-working spaces, which are some of the most popular rentals. As a result, the business could secure a regular source of revenue.
It is also essential to define what happens to the property if it has been bought by a director rather than by the business. Working closely with an estate lawyer can protect the property and ensure that it can be managed according to the director’s wishes in the event of their passing.
Go public on the stock exchange
Going public essentially means investors can buy stocks for a business listed on a stock exchange. Going public is a valuable form of advertising for a business, showcasing its value and stability.
Additionally, it is a fantastic strategy to finance future growth and raise capital without relying on existing shareholders. It is important to note that a public business must disclose full financial information. However, public investors can buy shares in the company, which drives capital.
For shareholders, it is synonymous with added liquidity, which makes the company more attractive to future shareholders.
Conclusion: Tips to elevate your business
In conclusion, raising capital for the business without changing the company’s processes or operations can be a game-changer for growth. When commercial loans can be delicate to secure and expensive, diversifying your sources of income as a business can help build momentum for the future.