If a business owner enters the shark tank looking for a strategic business partner and they walk away with a deal, they’re in great hands. Add that to the exposure they get for being on the show and the deal works out well for both parties involved. However, what about the people who go on Shark Tank because they do not have the money to fill their orders and the banks won’t give them a loan? Is being forced to sell a chunk of their company forever really the best way?
You see, the percentage of businesses that get approved to go on Shark Tank that is looking for strategic business partners has dropped drastically. A lot of the businesses are already successful and have achieved hundreds of thousands to millions of dollars in sales. A large portion of the businesses we see now grew too quickly and don’t have that working capital that they need to fill their orders. Unfortunately, a lot of these business owners are new to the business world and don’t know how to get the financing they need. All they know is that they have a successful product or service. That’s when they are ripe for a “shark” to take advantage of them.
Many business owners turn to the only thing they know how to do. When new business owners can’t fill their orders and the banks won’t give them a loan, they sell off a piece of the company they worked so hard to build to get funding. It’s actually pretty sad. Most of the time a bank won’t even give a loan to a business that’s less than two years old.
It’s important for business owners to know that they don’t have to sell a piece of their business in every situation to get the capital they need. BusinessCash will fund a business based on the creditworthiness of their customers. This gives new business owners the capital they need to fill orders and even grow their company without selling off their business to greedy investors.
BusinessCash provides AR Management Services as well as credit protection for businesses. In the long run, the business is better protected and the cost is far less than selling off a piece of a business forever. Using a PO funding and accounts receivable factoring company like BusinessCash protects your business from those who would profit off of a company’s explosive growth.
BusinessCash has many business experts with direct knowledge in the specific industries they fund. Not only that, they have access to other businesses who have gone through the same kind of growth. This advice is priceless and can only be provided by people who have been in the exact situation. While the “sharks” have a lot of industry experience in general, BusinessCash has the industry-specific vendor and AR credit/collection that business owners need to know.
Another Shark Tank investor, Barbara Corcoran has spelled out how she had to learn the food industry to help some of the businesses she invested in. Those businesses felt every growing pain. BusinessCash can help you avoid unnecessary struggles with their deep funding and industry knowledge. It’s valuable advice that doesn’t cost you a chunk of your business.