The first few years of a small business are stressful, but they do not have to be. “Save money anyway you can” may sound easier said than done, but these tips behind how to make the first few years in the lower middle market smoother can make a huge difference both financially and mentally.
Let’s start with the topic nobody wants to discuss debt. Most small business owners seem to have it, yet very few of them ever directly confront it until they’re in deep. Whether it’s student loan debt, car debt, credit card debt, a mortgage, a personal loan, or anything in between, it has to be taken care of. Even if it’s a small personal debt that does not seem to be in the way of the business, it could be money going into your work rather than a debt that may be decades old. When you get rid of debt, you’ll feel like you got a boost in revenue. Suddenly all of that money that was going towards repaying a debt can be put towards something else, like the next step in growing the business.
When you first start your business, there’s a temptation to do everything at once. In many cases, this leads inexperienced entrepreneurs to tackle surface level tasks, rather than the foundational building blocks that really make a business. A great example of this is marketing materials. Marketing materials are the fun part of starting a business: choosing a logo, designing business cards, picking out graphics and colors for your website, getting business stationary, etc. Unfortunately getting caught up in colors and patterns doesn’t make you money. Promotion is key, but the foundation of what you are promoting is much more important.
Lastly, saving money sometimes means finding new places to get money for your business. Raising capital is often thought of as a pre-business step, but money is always crucial to growth, especially in the first few years of a company. If capital is a problem, or you’d like it to be a solution, you need to get in touch with the team at SA Capital Partners.
SA Capital Partners is a key ally to lower middle market businesses looking to raise capital, perform smooth mergers and acquisitions, and run their business as best as they can. With years of experience in the lower middle market, SA Capital Partners should be the first phone call you make as you enter into the first years of your business and wonder what on Earth is supposed to come next.
About SA Capital Partners:
SA Capital Partners is an innovative financial services firm that specializes in mergers & acquisitions advisory and capital raising for lower middle market businesses. We aspire to give all the tools necessary to complete any transaction. SA Capital Partner’s financial services industry specialists provide comprehensive, integrated solutions to banking transactions. Our breadth of services and industry knowledge allow us to understand each client’s unique business needs. Our goal is to make all financial services available to every small business.