Raising funds is something most businesses don't like to do. Sometimes it's because the lending landscape has changed and it appears difficult – if not impossible – to raise capital and sometimes the reason is that small businesses don't believe they should be raising funds at all.
Marc Gorlin, the co-founder and Chairman of Kabbage will present some case studies of growing businesses and how and why they raised the capital to fund the expansion of their businesses.
Are you flying blind when it comes to growing your eCommerce business? Despite the fact that online shopping is infinitely more trackable than brick-and-mortar, we find that most executives and business owners still don't focus on proven metrics to grow their online revenue and valuation. As a result, their business doesn't grow as fast as it should.
In this webinar with AddShoppers and RJMetrics, you'll learn:
•Why emphasizing analytics is crucial for increasing online revenue
•The 6 top metrics growth focused eCommerce marketers should be tracking and improving
•How to integrate data analysis into your workflow
This white paper explains how to calculate the expected return on
an investment made in site search. It shows how to build a robust
calculation from existing site performance metrics to help make
an informed data-driven decision about the value that search can
add to your online organisation.
e-Commerce Facts and Stats 2015 and BeyondEuro IT Group
Euro IT Group teams have delivered dozens of ecommerce platforms. We cover the complete spectrum of ecommerce services from software architecture and development to additional plug ins development, modules extensions, user experience design, testing, maintenance and support, integration with other business systems (eg CRM, ERP, inventory), SEO, marketing, store migration or mobile responsive versions of your ecommerce platform.
Our e-commerce team consists of technical people, business analysts and marketing specialists with hands on experience in tailoring feature rich e-commerce solutions for companies that required modern design, a rich user experience, huge data volumes and integration with additional systems, all this done following the latest industry trends. Our focus is mostly on Magento development.
2016 Ecommerce Content Strategy: 7 Keys to Improving Conversion and SalesCake and Arrow
Alex Schmelkin, CEO and co-founder of Cake & Arrow (formerly Alexander Interactive), the award-winning customer experience agency, spoke at Internet Retailer Conference and Expo (IRCE) Chicago on Thursday, June 9th with Joshua Nafman, Senior Director of Brand & Digital Marketing at KIND Snacks, where he is responsible for telling stories that encourage people to do the kind thing for their bodies, their tastebuds and their world.
Ai has been a featured speaker at IRCE for several years. This past Thursday, Alex partnered with Joshua Nafman, Senior Director of Brand & Digital at KIND, to deliver a comprehensive presentation on content strategy. Designed to help retailers better reach and more deeply engage with their customers, their presentation explained:
the fundamentals of content strategy plans
how to uncover holes in those plans
how to establish successful ways for content will work across your site.
In this session, attendees were also able to hear recent case studies about content challenges that retailers faced, discover how they created content strategies that worked for their businesses, and learn how they measured ROI.
Case studies from european Divante projects. e-Commerce: from design to Magento implementation. Conversion optimization and eMarketing. Clients includes: Intersport, Praktiker, TUI and others.
SEO – short for search engine optimization, is a complex and constantly changing subject. Unfortunately it’s often hard to know where to start and where to get information. Does the latest SEO tactic you’re reading about work or will that get you banned from the search engines forever? Should I do SEO myself or should I hire out?
We all know that we need to ‘do’ SEO if we want our web sites to show up in the search engines but we don’t know where to begin. The bottom line is that SEO can be a very confusing and frustrating task for online sellers. Add to that all the misinformation readily available online. Who to believe and where do you start? What tools do I need? What training is available?
Pat Pepe, an online seller for 15 years and the education director for the Internet Merchants Association, will be presenting a guide for anyone that wants to learn the basics of SEO. Join her as she gives you what you need to start optimizing your ecommerce site today.
Are you flying blind when it comes to growing your eCommerce business? Despite the fact that online shopping is infinitely more trackable than brick-and-mortar, we find that most executives and business owners still don't focus on proven metrics to grow their online revenue and valuation. As a result, their business doesn't grow as fast as it should.
In this webinar with AddShoppers and RJMetrics, you'll learn:
•Why emphasizing analytics is crucial for increasing online revenue
•The 6 top metrics growth focused eCommerce marketers should be tracking and improving
•How to integrate data analysis into your workflow
This white paper explains how to calculate the expected return on
an investment made in site search. It shows how to build a robust
calculation from existing site performance metrics to help make
an informed data-driven decision about the value that search can
add to your online organisation.
e-Commerce Facts and Stats 2015 and BeyondEuro IT Group
Euro IT Group teams have delivered dozens of ecommerce platforms. We cover the complete spectrum of ecommerce services from software architecture and development to additional plug ins development, modules extensions, user experience design, testing, maintenance and support, integration with other business systems (eg CRM, ERP, inventory), SEO, marketing, store migration or mobile responsive versions of your ecommerce platform.
Our e-commerce team consists of technical people, business analysts and marketing specialists with hands on experience in tailoring feature rich e-commerce solutions for companies that required modern design, a rich user experience, huge data volumes and integration with additional systems, all this done following the latest industry trends. Our focus is mostly on Magento development.
2016 Ecommerce Content Strategy: 7 Keys to Improving Conversion and SalesCake and Arrow
Alex Schmelkin, CEO and co-founder of Cake & Arrow (formerly Alexander Interactive), the award-winning customer experience agency, spoke at Internet Retailer Conference and Expo (IRCE) Chicago on Thursday, June 9th with Joshua Nafman, Senior Director of Brand & Digital Marketing at KIND Snacks, where he is responsible for telling stories that encourage people to do the kind thing for their bodies, their tastebuds and their world.
Ai has been a featured speaker at IRCE for several years. This past Thursday, Alex partnered with Joshua Nafman, Senior Director of Brand & Digital at KIND, to deliver a comprehensive presentation on content strategy. Designed to help retailers better reach and more deeply engage with their customers, their presentation explained:
the fundamentals of content strategy plans
how to uncover holes in those plans
how to establish successful ways for content will work across your site.
In this session, attendees were also able to hear recent case studies about content challenges that retailers faced, discover how they created content strategies that worked for their businesses, and learn how they measured ROI.
Case studies from european Divante projects. e-Commerce: from design to Magento implementation. Conversion optimization and eMarketing. Clients includes: Intersport, Praktiker, TUI and others.
SEO – short for search engine optimization, is a complex and constantly changing subject. Unfortunately it’s often hard to know where to start and where to get information. Does the latest SEO tactic you’re reading about work or will that get you banned from the search engines forever? Should I do SEO myself or should I hire out?
We all know that we need to ‘do’ SEO if we want our web sites to show up in the search engines but we don’t know where to begin. The bottom line is that SEO can be a very confusing and frustrating task for online sellers. Add to that all the misinformation readily available online. Who to believe and where do you start? What tools do I need? What training is available?
Pat Pepe, an online seller for 15 years and the education director for the Internet Merchants Association, will be presenting a guide for anyone that wants to learn the basics of SEO. Join her as she gives you what you need to start optimizing your ecommerce site today.
You’re not special. Almost all businesses are online marketing these days—everyone tweets, posts to social networks, and blogs. What you’re doing now is not enough to make your business stand out.
Forget what all the self-proclaimed “social media gurus” are telling you. Being active on social media and being successful in social commerce are not the same things. Simply getting a bunch of followers or Likes doesn’t cut it anymore. In this session, award-winning digital media strategist John Lawson gives you a straight-shooting, no-holds-barred guide to social commerce. In other words, he shows you how to make money online using social media.
What you will learn:
--How to create a social marketing business plan using a simple, effective template, a proven blueprint for all stages of marketing—from start-up to empire.
--The importance of crafting messages for individual consumers and sharing them in real time to engage and convert.
--Employing the best social commerce strategy for Facebook, Twitter, LinkedIn, YouTube, and the hottest new social media sites.
--Expertly leveraging features such as Likes, Retweets, Follows, Shares, and Reposts
--How to building a thriving social based marketing strategy and keeping it vibrant and growing
Your web site needs to be accessible and usable for everyone even as the number of devices, platforms and browsers that are used to access it continue to expand every day. Incorporating a responsive web design represents a fundamental shift in how web sites are built now – and into the future.
Join Rick Wilson, President of Miva Merchant as he discusses the explosive growth in tablets and how you need to be making changes to your site now along with things you need to consider as you redesign your ecommerce web site in the future.
Maybe you've heard about comparison shopping engines and want to learn more. Perhaps you've never even considered them for your ecommerce web site. In either case, this is the session for you to attend to learn the basics of comparison shopping engines. In this beginner to intermediate level class, SingleFeeds' Liam Supple will give you the knowledge you need, teach you the ins and outs of comparison shopping engines and show you some expert techniques to getting your product indexed on the comparison shopping engines.
Using Google Shopping may be the best way to get your products noticed. With so many changes to the comparison shopping search landscape, Liam Supple of SingleFeed will show you some expert techniques for getting your products indexed into Google Shopping for the maximum impact.
Getting your products found on the internet is tough! If you are ready to submit your product listings to Google Shopping, then you owe it to yourself to attend this session with Liam Supple of SingleFeed.
If you have experience with submitting your products to Google Products, Nextag or any of the other comparison shopping engines, then you're ready to attend this advanced session with Ryan Douglas of SingleFeed. Ryan will show you some intermediate and advanced level techniques to getting your product indexed on the comparison shopping engines.
Why Doesn't Your Web Site Have This? The Features You NEED to Sell Products
Building a web site is easy; building a GREAT web site that has all the features that customers like takes some skill and knowledge. Even if you think your web site already has it all, Rick Wilson, President of Miva Merchant has some ideas and suggestions for creating the kind of web site that customers have to come to expect in ecommerce shopping.
Online sales take place on many different venues and the list of places to sell grows everyday! Crystal Wells of Vendio, an ecommerce veteran will guide you in discovering the wide array of ways and places to sell your products on the internet.
Creating an Outstanding Customer Experience on Your Web Site -
Online customers have many expectations when they visit your ecommerce web site. What are their expectations and how can you meet them on your own site? Rick Wilson, President of Miva Merchant will take you through the steps of creating an outstanding customer experience on your own site.
Comparison Search Engines: Make Your Products Visible Everywhere!
Build it and they will come. Sound familiar? Growing your business on the internet can be done but it takes more than building a web site and waiting for the customers. Learn what comparison search engines are and how they can help get your products listed all over the web. Ryan Douglas of SingleFeed will show you how.
Hiring a web designer can be a daunting task. Who can you trust? Who will give you the best web site for your e-commerce store? One way to build a web presence is through the use of low cost web stores. Learn how to separate the good from the bad when choosing a low cost web store platform.
When you are building or redesigning an e-commerce web site, there is so much to consider. From datafeeds to automation, email marketing to shipping, today’s web stores need the latest and greatest in features to propel their growth. Learn what you can add to your site to make it the best for both you and your buyers.
Rick Wilson of MIVAMerchant.com gave this presentation to the attendees of the ASD educational sessions on August 9, 2010. His session was done in conjunction with the Internet Merchants Association education program.
Understanding User Needs and Satisfying ThemAggregage
https://www.productmanagementtoday.com/frs/26903918/understanding-user-needs-and-satisfying-them
We know we want to create products which our customers find to be valuable. Whether we label it as customer-centric or product-led depends on how long we've been doing product management. There are three challenges we face when doing this. The obvious challenge is figuring out what our users need; the non-obvious challenges are in creating a shared understanding of those needs and in sensing if what we're doing is meeting those needs.
In this webinar, we won't focus on the research methods for discovering user-needs. We will focus on synthesis of the needs we discover, communication and alignment tools, and how we operationalize addressing those needs.
Industry expert Scott Sehlhorst will:
• Introduce a taxonomy for user goals with real world examples
• Present the Onion Diagram, a tool for contextualizing task-level goals
• Illustrate how customer journey maps capture activity-level and task-level goals
• Demonstrate the best approach to selection and prioritization of user-goals to address
• Highlight the crucial benchmarks, observable changes, in ensuring fulfillment of customer needs
Kseniya Leshchenko: Shared development support service model as the way to ma...Lviv Startup Club
Kseniya Leshchenko: Shared development support service model as the way to make small projects with small budgets profitable for the company (UA)
Kyiv PMDay 2024 Summer
Website – www.pmday.org
Youtube – https://www.youtube.com/startuplviv
FB – https://www.facebook.com/pmdayconference
You’re not special. Almost all businesses are online marketing these days—everyone tweets, posts to social networks, and blogs. What you’re doing now is not enough to make your business stand out.
Forget what all the self-proclaimed “social media gurus” are telling you. Being active on social media and being successful in social commerce are not the same things. Simply getting a bunch of followers or Likes doesn’t cut it anymore. In this session, award-winning digital media strategist John Lawson gives you a straight-shooting, no-holds-barred guide to social commerce. In other words, he shows you how to make money online using social media.
What you will learn:
--How to create a social marketing business plan using a simple, effective template, a proven blueprint for all stages of marketing—from start-up to empire.
--The importance of crafting messages for individual consumers and sharing them in real time to engage and convert.
--Employing the best social commerce strategy for Facebook, Twitter, LinkedIn, YouTube, and the hottest new social media sites.
--Expertly leveraging features such as Likes, Retweets, Follows, Shares, and Reposts
--How to building a thriving social based marketing strategy and keeping it vibrant and growing
Your web site needs to be accessible and usable for everyone even as the number of devices, platforms and browsers that are used to access it continue to expand every day. Incorporating a responsive web design represents a fundamental shift in how web sites are built now – and into the future.
Join Rick Wilson, President of Miva Merchant as he discusses the explosive growth in tablets and how you need to be making changes to your site now along with things you need to consider as you redesign your ecommerce web site in the future.
Maybe you've heard about comparison shopping engines and want to learn more. Perhaps you've never even considered them for your ecommerce web site. In either case, this is the session for you to attend to learn the basics of comparison shopping engines. In this beginner to intermediate level class, SingleFeeds' Liam Supple will give you the knowledge you need, teach you the ins and outs of comparison shopping engines and show you some expert techniques to getting your product indexed on the comparison shopping engines.
Using Google Shopping may be the best way to get your products noticed. With so many changes to the comparison shopping search landscape, Liam Supple of SingleFeed will show you some expert techniques for getting your products indexed into Google Shopping for the maximum impact.
Getting your products found on the internet is tough! If you are ready to submit your product listings to Google Shopping, then you owe it to yourself to attend this session with Liam Supple of SingleFeed.
If you have experience with submitting your products to Google Products, Nextag or any of the other comparison shopping engines, then you're ready to attend this advanced session with Ryan Douglas of SingleFeed. Ryan will show you some intermediate and advanced level techniques to getting your product indexed on the comparison shopping engines.
Why Doesn't Your Web Site Have This? The Features You NEED to Sell Products
Building a web site is easy; building a GREAT web site that has all the features that customers like takes some skill and knowledge. Even if you think your web site already has it all, Rick Wilson, President of Miva Merchant has some ideas and suggestions for creating the kind of web site that customers have to come to expect in ecommerce shopping.
Online sales take place on many different venues and the list of places to sell grows everyday! Crystal Wells of Vendio, an ecommerce veteran will guide you in discovering the wide array of ways and places to sell your products on the internet.
Creating an Outstanding Customer Experience on Your Web Site -
Online customers have many expectations when they visit your ecommerce web site. What are their expectations and how can you meet them on your own site? Rick Wilson, President of Miva Merchant will take you through the steps of creating an outstanding customer experience on your own site.
Comparison Search Engines: Make Your Products Visible Everywhere!
Build it and they will come. Sound familiar? Growing your business on the internet can be done but it takes more than building a web site and waiting for the customers. Learn what comparison search engines are and how they can help get your products listed all over the web. Ryan Douglas of SingleFeed will show you how.
Hiring a web designer can be a daunting task. Who can you trust? Who will give you the best web site for your e-commerce store? One way to build a web presence is through the use of low cost web stores. Learn how to separate the good from the bad when choosing a low cost web store platform.
When you are building or redesigning an e-commerce web site, there is so much to consider. From datafeeds to automation, email marketing to shipping, today’s web stores need the latest and greatest in features to propel their growth. Learn what you can add to your site to make it the best for both you and your buyers.
Rick Wilson of MIVAMerchant.com gave this presentation to the attendees of the ASD educational sessions on August 9, 2010. His session was done in conjunction with the Internet Merchants Association education program.
Understanding User Needs and Satisfying ThemAggregage
https://www.productmanagementtoday.com/frs/26903918/understanding-user-needs-and-satisfying-them
We know we want to create products which our customers find to be valuable. Whether we label it as customer-centric or product-led depends on how long we've been doing product management. There are three challenges we face when doing this. The obvious challenge is figuring out what our users need; the non-obvious challenges are in creating a shared understanding of those needs and in sensing if what we're doing is meeting those needs.
In this webinar, we won't focus on the research methods for discovering user-needs. We will focus on synthesis of the needs we discover, communication and alignment tools, and how we operationalize addressing those needs.
Industry expert Scott Sehlhorst will:
• Introduce a taxonomy for user goals with real world examples
• Present the Onion Diagram, a tool for contextualizing task-level goals
• Illustrate how customer journey maps capture activity-level and task-level goals
• Demonstrate the best approach to selection and prioritization of user-goals to address
• Highlight the crucial benchmarks, observable changes, in ensuring fulfillment of customer needs
Kseniya Leshchenko: Shared development support service model as the way to ma...Lviv Startup Club
Kseniya Leshchenko: Shared development support service model as the way to make small projects with small budgets profitable for the company (UA)
Kyiv PMDay 2024 Summer
Website – www.pmday.org
Youtube – https://www.youtube.com/startuplviv
FB – https://www.facebook.com/pmdayconference
Top mailing list providers in the USA.pptxJeremyPeirce1
Discover the top mailing list providers in the USA, offering targeted lists, segmentation, and analytics to optimize your marketing campaigns and drive engagement.
In the Adani-Hindenburg case, what is SEBI investigating.pptxAdani case
Adani SEBI investigation revealed that the latter had sought information from five foreign jurisdictions concerning the holdings of the firm’s foreign portfolio investors (FPIs) in relation to the alleged violations of the MPS Regulations. Nevertheless, the economic interest of the twelve FPIs based in tax haven jurisdictions still needs to be determined. The Adani Group firms classed these FPIs as public shareholders. According to Hindenburg, FPIs were used to get around regulatory standards.
Premium MEAN Stack Development Solutions for Modern BusinessesSynapseIndia
Stay ahead of the curve with our premium MEAN Stack Development Solutions. Our expert developers utilize MongoDB, Express.js, AngularJS, and Node.js to create modern and responsive web applications. Trust us for cutting-edge solutions that drive your business growth and success.
Know more: https://www.synapseindia.com/technology/mean-stack-development-company.html
B2B payments are rapidly changing. Find out the 5 key questions you need to be asking yourself to be sure you are mastering B2B payments today. Learn more at www.BlueSnap.com.
Personal Brand Statement:
As an Army veteran dedicated to lifelong learning, I bring a disciplined, strategic mindset to my pursuits. I am constantly expanding my knowledge to innovate and lead effectively. My journey is driven by a commitment to excellence, and to make a meaningful impact in the world.
LA HUG - Video Testimonials with Chynna Morgan - June 2024Lital Barkan
Have you ever heard that user-generated content or video testimonials can take your brand to the next level? We will explore how you can effectively use video testimonials to leverage and boost your sales, content strategy, and increase your CRM data.🤯
We will dig deeper into:
1. How to capture video testimonials that convert from your audience 🎥
2. How to leverage your testimonials to boost your sales 💲
3. How you can capture more CRM data to understand your audience better through video testimonials. 📊
Remind everyone to drop in their Business Card if they have not done so.
TELL US ABOUT YOURSELF
What we do
Faster than you can cash a check at a bank
Using data beyond just a credit score
- How long we’ve been around
What channels we work with
Lead-in: people often ask at the end of a talk ‘ how we got the name kabbage’
Everyone always asks, “How did you come up with the name Kabbage?” Tell the story…
If you want to learn a bit more about us, we’ve been featured in all kinds of media, including being named one of the Most Innovative companies of the year by Fast Company Magazine.
All businesses need working capital and can use Working Capital to help them grow.
- Whether you are a small online store or someone with a brick and mortar shop, there are many ways to use working capital.
I’m going to tell you some stories about how customers have used working capital from Kabbage in the past. Some are great, and some didn’t turn out so well.
For example…
Good example:
Barbara Voron in Egg Harbor Township, NJ. Barbara sells wigs for Cancer patients /transsexuals/prostitutes.
Barbara is a cancer survivor herself, and loves using her business to help others.
She has used working capital to increase her inventory, and her sales have grown!
Good example:
Seth Brown: Recycle my laptop in Philadelphia, PA.
Seth buys old laptops and refurbishes them or sells the parts WITH KABBAGE CASH.
WHEN HE WAS A KID, HE WOULD TAKE COMPUTERS APART AND PUT THEM BACK TOGETHER.
WHEN HE WAS A STUDENT AT UPENN, HE WOULD TAKE COMPUTERS FROM OLD LABS, REFURBISH THEM, AND DONATE TO COMMUNITY CENTERS IN WEST PHILLY.
He helps keep laptops out of landfills!
Not only does he have great sales from his business, but he is helping the environment with his business. SECURITY IS ALSO A MAJOR CONCERN FOR SETH’S BUSINESS.
HE HAS ALSO USED WORKING CAPITAL TO OPEN A DROP-OFF FACILITY.
These are the top 5 reasons we hear that people use their working capital to grow their businesses.
Keep in mind, working capital should be used in ways that you can MAKE money. You should invest your working capital back into your business to help profits grow.
In the next few minutes we’ll discuss real world examples of how people have used working capital to grow their businesses – and also some ways they have found to use it that might make you laugh!
Buy inventory – sounds obvious, and it should be! Most of the businesses we work with use working capital for inventory
Not just buying, but buying in bulk to get a better deal
Getting better terms with vendors
- Taking advantage of free shipping deals
- Filling gaps between seasonal inventory periods
Here is an example of someone who used Working Capital to expand their inventory for his online flag store.
John and Lori Chartier, owners of EHT flags in New Jersey.
STARTED IN 2008.
- SellS military, state, country flags
- SellS on eBay mostly
- John is a Vietnam vet and his wife Lori deaf
- A percentage of all sales goes to
benefit the Wounded Warrior project (10%)
Bobby Abenschoen of Searchlight Comics in Bloomfield NJ
was in the comics business, and also began selling toys that went with the comics IN OCTOBER 2011.
He used his working capital to expand into another category to both increase sales of NEw inventory and complement sales of current inventory. “WITHOUT KABBAGE, THERE WOULD BE NO SEARCHLIGHT TOYS”
He gets a bigger share of wallet of his current customers.
He bought $8,000 worth of DISCOUNTED LEGO TOYS and sold it for $90,000!
- Ed Harmon, owner of Boardstop in Austin, TX
-saw that his customers were taking up longboarding when it was not warm enough to be out on the lake.
He used working capital to expand his inventory from just wakeboards and equipment to longboards as well. HE APPLIED IN OCTOBER BUT DIDN’T USE IT UNTIL DECEMBER.
HE HAD THE KABBAGE CASH IN LESS THAN 10 MINUTES.
- He is now able to sell no matter the season, and the change has opened him up to a much larger customer base.
- He created the site “complete skateboard decks.com” and now his skateboarding businesses has grown bigger than his original wakeboarding business.
- Here is an example of a customer who didn’t use their working capital to their best advantage.
We had a customer who bought old VINTAGE cowboy boots and refinished them to sell. She had a great business, as she was able to get her product in bulk from various distributors AT AS LOW AS $ - $3 A POUND. SHE COULD THEN SELL FOR 50 – 500 A PAIR.
BEFORE FINDING KABBAGE AND THE EXTRA WORKING CAPITAL, SHE WOULDN’T HAVE BEEN ABLE TO TAKE ADVANTAGE OF LARGE INVENTORY SALES. KABBAGE WAS LIKE A “SILENT PARTNER”
- However, some of the bulk product wasn’t of good quality, and it hurt her in the end.
- She was not paying close enough attention to the quality of her inventory.
- There is inherit risk in business, but you need to mitigate your risk by being as involved in the process of your business as possible – especially when you are borrowing money.
-The second most popular usage of working capital is expanding equipment and materials.
-This can be buying new equipment to help your businesses run better, or buying raw materials with which you can make your product better and more cost-effective.
Jason SMITH: refurbing CDs:
- Jason Smith from right here in Las Vegas!
- Jason buys and sells vintage, collectible albums and records.
- Jason had 100s of out of date, scratched, damaged CDs laying around that he didn’t know what to do with
- He used working capital and bought a CD refinisher, refinished 100s of CDs and sold them for a huge profit!
- Using working capital for equipment helped Jason increase his sales and put money back into his business
- We have a small business customer called Sam’s Naturals.
- They make their own soaps and bath products from scratch and sell them under their name.
- Some of you may have used it before – anyone familiar with the lumberjack hygiene pack??? Raise your hand?
- They got a large order from West Elm and did not have enough materials to create and fulfill the order
- They got working capital from Kabbage, which they used to produce and fulfill the large order
- Their products are available in West Elm and westelm.com
-Another example: Gary Turner
- You can use working capital in more simple ways.
- Gary Turner used wc to buy a laptop, and increased his sales 3000 to 6000 a month as he was able to list more quickly!
- When you are running a business, you have to run it 24/7, year-round.
- Sometimes unseen expenses arise – for instance a medical emergency or natural disaster – and you need cash flow to help get you through these times.
- Here are some examples:
- Silvio of Long Island, NY
- sold Vintage Nintendo video games, audio equipment and electronics.
HURRICANE SANDY DEVASTED THE NORTHEAST, AND THE HOMES AND BUSINESSES THAT RESIDE THERE…
Silvio of Long Island, NY sold Vintage Nintendo video games, audio equipment and electronics.
- Hurricane Sandy hit and, as you can see, destroyed his business and warehouse.
- He was able to use his Kabbage working capital to help bridge the gap until he could get on his feet again.
We know one customer who sold outdoor furniture.
- Her sales were great in the spring and summer, but always dropped off in the winter
- As her sales were down, she used her working capital to buy Christmas presents, rather than reinvesting that money into something for her business.
- Her business failed as a result, leaving her not only with no personal funding, but no funding for her business.
- Kabbage was also able to learn a lesson about seasonality from this experience and others like it…
- We’re a small business too!
- As you can see in these graphs, we also have a very seasonal business, due to the ebb and flow of the retail season.
- We found that people take out more advances for more money in the months leading up to the holiday season, and this number drops down thereafter.
- IT IS IMPORTANT FO SMALL BIZ TO LEARN THESE LESSONS…
- Hiring an extra helping hand can be real gift to your business.
- This extra help can help you increase productivity and sales.
- This concept can also be very tricky, as you must be able to judge when the time is right for your business to take on an extra person.
- It can either make or break your business.
- Here are some examples:
Sheryl VanDyck of Greenville Tenn makes and sells jewelry OUT OF HER HOME WORKSHOP.
She has a store called Lavender Cottage on Etsy – STARTED SELLING FULL TIME IN 2008.
SHE WAS A COMPUTER PROGRAMMER, BUT HER PASSION WAS FOR JEWELRY. SHE STARTED TAKING CLASSES AND LEARNED HOW TO FUSE SILVER WITH A BUTANE TORCH, SO THAT SHE COULD MANIPULATE THE METALS.
SHE DESCRIBES HER PIECES AS ORGANIC, AS THEY HAVE FLOWERS AND OTHER DESIGNS WHICH SHE MAKES USING HAMMERS.
Sheryl used working capital to hire an apprentice for her jewelry making business.
“NOW I HAVE SOMEONE WHO CAN HELP ME GET THE MAIN PARTS OF MY PIECES CUT AND READY TO GO. I HAVE ALMOST REACHED MY LIMIT ON HOW MUCH JEWELRY I COULD MAKE MYSELF!”
SHE DIDN’T EVEN BOTHER WITH BANKS, AS SHE KNEW THEY WOULDN’T HELP ONLINE SELLERS.
- Having the extra help enabled Sheryl to increase production, list more inventory, and generate more sales.
[LONG PAUSE]
YES I AM TALKING TO YOU.
The fifth use we hear people having for their working capital is for marketing purposes.
A little money towards marketing can go a long way if you know how to use it, and many are unfamiliar with both traditional and digital marketing methodology.
Once again, you have to make sure whatever you choose to do is right for your business.
Chris Byrne of the Gear Geeks in Huntington Beach, CA
- Chris sells music instruments and equipment.
- He travels to concerts to purchase inventory which he cleans up and sells – he even has equipment from the band the Black Eyed Peas!
- While he uses his Kabbage cash for inventory, he also used it to wrap his van. This way, when he goes to concerts to purchase inventory, his name is being associated with large music groups and suppliers, thus increasing his visibility and exposure in the music industry.
- Chris has increased his sales just from people seeing his van around the Southern California area and checking out his sites.
While Chris has done a great job in spending on marketing, it is not always so easy!
- Take the time to research the cost/benefits of your marketing efforts. For instance, buying time on a television station might cost a lot and provide little exposure for your business, depending on the nature of that business.
- How many of you drive by people on the side of the road dressed up in costumes trying to sell something? How many of you actually stop? See my point?
1. DO WHAT WORKS
2. COPY OTHERS
3. TEST IT FIRST
Don’t feel like you can only use your working capital for just one area.
You can use it in multiple areas or even for all usages as your business grows!
Here’s an example of someone who did just that:
- Francisco is based outside of Atlanta and has been with us since we started! We have grown together!
- Francisco sells latin food and products via his online store, The Latin Products, and also via other online channels such as ebay, Amazon, and buy.com
- Francisco has used Kabbage to buy inventory, expand his supplies and space, hire more help, and improve his branding.
- It also helped him grow his business slowly over time with readily available cash flow.
- Francisco is based outside of Atlanta and has been with us since we started! We have grown together!
- Francisco sells latin food and products via his online store, The Latin Products, and also via other online channels such as ebay, Amazon, and buy.com
- Francisco has used Kabbage to buy inventory, expand his supplies and space, hire more help, and improve his branding.
- It also helped him grow his business slowly over time with readily available cash flow.
Here are some statistics about his growth that will astound you!
So, on that note, we purchased one of Francisco’s mortle and pestles, or molcajetes, and want to give it to one of you for listening to this little talk!