Author: admin

If you have built your small business through hard work and determination, you should be proud of what you’ve accomplished so far. But if you want to continue to grow and strengthen your company’s position in the marketplace, you need to develop a growth strategy, which will help ensure that your company remains profitable and relevant. These four tips will help you create an effective growth strategy for your small business that will help it continue to thrive in the years ahead.

1) Start From The End

Incorporating these four tips into your growth strategy will help ensure you stay on track with your plan.  When developing a growth strategy, start from the end to make sure that all of the steps in between lead up to achieving this goal. Consider how each step can be measured and recognize that it takes a lot of time and effort for anything to succeed in life. Don’t forget to have fun while doing all of this hard work!

2) Know What You Have To Work With

Use a SWOT analysis to outline your company’s strengths, weaknesses, opportunities and threats. You can use this information to create the best possible plan for your business. But whatever you do, make sure that you know what you’re working with in order to not just form a plan but an achievable one as well.

3) Assess The Competition

It is important to assess the competition as it relates to your growth strategy. We recommend starting with a SWOT analysis to consider: Strengths, Weaknesses, Opportunities and Threats. Use this information to create a competitive advantage and identify what you want to do better than your competitors. Understand Your Industry, understanding the industry in which you operate will help you develop a strategy that will address potential obstacles that may arise in different markets. Conducting market research can be helpful in understanding how much of the market share there is for specific products or services, where consumers are most likely looking for them, and how many competitors exist for those same products or services.

4) Get Feedback Regularly

Feedback is important for growth because it allows you to see what strategies and tactics are working and which ones should be changed. Feedback from customers, employees, partners, and investors can help you pinpoint areas of success as well as obstacles in your company’s way. Regardless of the method for feedback gathering, there are two important things to remember: first, the more often feedback is sought, the more responsive business decisions will be. Second, feedback needs to come from a wide variety of sources.

Partner with United Funding Group

 In these uncertain times, it’s more important than ever to have a reliable partner you can count on for funding, especially with a Startup business. United Funding Group has a long history of helping small businesses weather tough times. We offer a variety of funding options that can be tailored to your specific needs. So if you’re worried about how inflation will impact your business, give us a call. We’re here to help.

Contact UFG, Today!

United Funding Group provides funding for all types of businesses, regardless of industry. We provide merchant cash advances for many industries, including retail, service, restaurant, and real estate investment. Whether expanding your business or opening a new one, we can get you funded quickly and easily. Contact us today to learn more about merchant cash advances from United Funding Group, ufgfunding.com. 

It’s hard to stay organized and productive when you’re running your own business, especially if you have limited time to complete tasks that require a lot of concentration. Here are five tips to help keep you on track and stay organized as a small business owner.

1) Keep a list of your daily tasks

It can be easy to forget about the little things when you’re running a business. However, in order to keep your life balanced and maintain some sort of work-life balance, try starting each day with an outline of what needs to get done (this could include things like: shopping, marketing or networking).

2) Add dates to your calendar

Create weekly recurring events in your calendar on Friday or Saturday night to spend time doing your own personal activities.

Prioritize getting eight hours of sleep, eating well, and exercising at least three times per week. 

Learn how to set priorities for what to work on each day so you’re not running around like a chicken with its head cut off. Scheduling my time has been instrumental in improving my workflow process.

3) Set aside time for important tasks

Planning your week on Sunday night can help you know what to focus on. Make sure to allocate time every day for completing tasks that take priority. When you’re overloaded, do one thing at a time, from the top of the list, rather than jumping around. You’ll get more done in less time by focusing on one task until it’s completed before moving onto the next task.

4) Use tools to track your progress

Evernote is an organizational tool that allows you to organize your ideas and documents into notebooks. For example, you can have one notebook dedicated to blog posts, another one dedicated to upcoming deadlines, etc. You can also keep track of everything that you do during the day (meetings, deadlines, emails sent) by simply taking notes while on the go with their mobile app. Todoist is another organizational tool that creates a daily task list by allowing you to prioritize tasks with preset tags.

5) Break down long-term projects into manageable steps

All too often, these sorts of projects can seem daunting, and difficult to figure out how to tackle them. In this post, I want to provide you with some specific steps that you can take to make it much more manageable.

Partner with United Funding Group

In these uncertain times, it’s more important than ever to have a reliable partner you can count on for funding, especially with a Startup business. United Funding Group has a long history of helping small businesses weather tough times. We offer a variety of funding options that can be tailored to your specific needs. So if you’re worried about how inflation will impact your business, give us a call. We’re here to help.

Contact UFG, Today!

United Funding Group provides funding for all types of businesses, regardless of industry. We provide merchant cash advances for many industries, including retail, service, restaurant, and real estate investment. Whether expanding your business or opening a new one, we can get you funded quickly and easily. Contact us today to learn more about merchant cash advances from United Funding Group, ufgfunding.com. 

It’s hard to start your own business if you can’t get approved for a small business loan! Borrowing money from a bank or other financial institution requires an application process and approval by the lender, which means that your credit history will play a role in whether or not you qualify. So what do you do if you have some negative marks on your credit report, like past-due bills, overuse of credit cards, or late mortgage payments? Here are three simple steps to clean up your debt and fix your credit before applying for your small business loan.

Step 1: Create a Budget

Set up a spreadsheet with one row for each of your expenses. Track your spending on it every day (or as often as you want) by updating the amount in the column next to the item you spent money on. Once you’ve tracked how much you spend, get out your bills and create two more columns. The first column should say Available Income – this is money that is not going towards any other expense, like your cell phone bill or insurance. The second column should say Loan Amount – list out what amount you would need in order to cover all of your expenses.

Step 2: Negotiate with Creditors

If you cannot afford to make the minimum payments on your credit cards, it is best not to take out any new ones until you have the ability to repay your existing debt. First, get a realistic idea of what you owe by tracking how much money you are paying in monthly installments. Second, set up meetings with all of your creditors if possible. Third, find out what they will be willing to do in order to help you clean up your debts so that you can make some more manageable payments going forward.

Step 3: Get Help from Expert Sources

The next step is to take care of your credit. Paying off any delinquent or bad debts will get rid of the negative marks on your report, which is important if you plan on applying for a small business loan. You’ll want to first set up an appointment with an experienced bankruptcy attorney in your area who can advise you about which type of bankruptcy is best for you based on how many assets and debts you have, as well as how much income you make. The process may cost several thousand dollars (unless Chapter 7 is an option) but will immediately start wiping out some of those bad debt charges from lenders that are dragging down your credit score.

Step 4: Do bank loans help? 

Not all financial debt problems are created equal. If you’re in debt, there’s likely more than one way to get help. And before seeking that help, there are a few things you can do on your own. Consider the following steps if you want to take charge of your finances without bankruptcy or loan modification:

– Track your income vs expenses. It sounds pretty basic, but it’s critical when evaluating whether or not you’re financially able – or can afford – to pay off any outstanding debts (or credit cards). You might be surprised by what doing this reveals.

Where do I go for financial debt assistance? 

1. If you have student loans, the first step is to review all of your loan offers and choose the best one based on the loan type, interest rate, lowest fees, etc. This will help narrow down your selection of offers. The Department of Education (DOE) also has information about how to get help with student loans if you need it.

2. Pay off high-interest credit cards or any other high-interest debts before applying for business financing so that they’re less likely to charge you excessive fees while paying off the debt over time.

Once that debt is low…

Now that your debt is low, you can start looking for ways to fund your new business. Decide on the type of small business you want: If you’re not sure what type of small business to start there are plenty of resources out there to help. Next, you will need to figure out where the funding will come from for your start-up.  The easiest way to do this is with personal savings and/or retirement funds (though many people don’t have these). You could also ask family and friends for investments in exchange for shares in the company. Another option would be to go through an accelerator program like Techstars or Y Combinator which offers equity-free grants in exchange for 5% – 10% of your company’s future earnings. 

Now that you have a few basics to clear up and fix your credit, get started on your journey to opening up your very own business!

Partner with United Funding Group

In these uncertain times, it’s more important than ever to have a reliable partner you can count on for funding, especially with a Startup business. United Funding Group has a long history of helping small businesses weather tough times. We offer a variety of funding options that can be tailored to your specific needs. So if you’re worried about how inflation will impact your business, give us a call. We’re here to help.

Contact UFG, Today!

United Funding Group provides funding for all types of businesses, regardless of industry. We provide merchant cash advances for many industries, including retail, service, restaurant, and real estate investment. Whether expanding your business or opening a new one, we can get you funded quickly and easily. Contact us today to learn more about merchant cash advances from United Funding Group, ufgfunding.com. 

Starting an e-commerce business has both benefits and drawbacks, and you’ll want to be aware of both before deciding if this is the right business model for you. Here are some important pros and cons of starting an e-commerce business to consider.

The Pros

The advantages of starting an e-commerce business are innumerable: consumers can purchase products at their convenience, sellers enjoy complete control over pricing and inventory, and returns are easier to process. Unlike brick-and-mortar stores, an e-commerce business is an inexpensive and low maintenance, making it the perfect opportunity for someone who doesn’t have much time or money. Some cons of starting an e-commerce business are that you may need more start-up capital than expected and the competition is high with even small businesses selling online.

The Cons

It may be tempting to throw up a quick website, buy some inventory, and sell whatever items you have available. But before you get too far down that road, make sure that it’s actually worth your time and money. Other disadvantages of starting an e-commerce business include losing the advantage of personal contact with customers and spending hours entering information into your website. Running a successful e-commerce business is no easy task so unless you’re prepared for the many challenges, consider finding a different way to earn your living.

Things to Keep in Mind

The reason that small and medium-sized businesses start with e-commerce is that they don’t have the funds necessary for a storefront, and doing so online allows them access to clients all over the world. The majority of these businesses are funded by outside investors who, in return, receive a share of ownership. One major downside to starting a business this way is that you must pay rent on your physical space even if it’s not being used right now.

Who to reach out to for advice

There are many aspects of starting a successful e-commerce business that need careful consideration. Some things you should consider before starting your own e-commerce business are whether or not you have the knowledge, financial resources, and determination required for success. Also, you should determine what type of goods will you be selling, your niche in the market, and whether there is enough potential profit from your target market. The risks in opening up your own e-commerce store include the competition with existing brands and that costs may exceed profit. All businesses involve risk and it’s up to you as the founder how much risk you want to take on.

What E-Commerce businesses are the most successful

The most successful e-commerce businesses have a balance of high-quality products, competitive prices, and low overhead. When you’re starting out, price competition is usually a bigger factor because not many people know about your business. They might be more likely to order from the first site they find that offers what they want at the lowest cost. It’s good to set realistic goals for your first year in business so you can see how things go and adjust accordingly. As long as you’re providing your customers with good customer service, healthy inventory turnover rates, and high margins on sales volume, your company should be okay.

First step to opening an E-Commerce business?

Opening up an e-commerce business requires a significant investment of time and money before you even have a website up and running. To start off on the right foot, here are four things you should know before starting: 

1) A small store is just as viable as a big one

2) Customers might still need to touch the product in the store

3) There are reasons not to expand internationally

4) Shipping prices can vary widely depending on the distance. 

The initial investment into opening your e-commerce business will depend on what type of online retailer you want your company to be, but with so many different options out there it’s difficult to pinpoint exactly how much it will cost.

Partner with United Funding Group

In these uncertain times, it’s more important than ever to have a reliable partner you can count on for funding, especially with a Startup business. United Funding Group has a long history of helping small businesses weather tough times. We offer a variety of funding options that can be tailored to your specific needs. So if you’re worried about how inflation will impact your business, give us a call. We’re here to help.

Contact UFG, Today!

United Funding Group provides funding for all types of businesses, regardless of industry. We provide merchant cash advances for many industries, including retail, service, restaurant, and real estate investment. Whether expanding your business or opening a new one, we can get you funded quickly and easily. Contact us today to learn more about merchant cash advances from United Funding Group, ufgfunding.com. 

Commercial trucking companies can seem like big, scary monsters, but they’re not as difficult to run as you might think. In fact, according to the Federal Motor Carrier Safety Administration, 90% of new commercial trucking companies survive past their first year and many long-term trucking businesses have 10 or more years of successful operation under their belts. If you’re considering taking the leap into commercial trucking, follow these five tips to get started on the right foot.

1) Get Licensed

There are a few licenses you’ll need to operate as a commercial truck of driver. These include: Commercial Driver’s License (CDL), Class A CDL, and Transportation Worker Identification Credential (TWIC). You’ll also need to register your company with the US Department of Transportation.

2) Establish an LLC or Corp

Let’s make you feel like a real boss, start off by purchasing a business license followed by registering a corporation. Next, grt  bonded and insured, and determe the transportation industry you want to enter. However, running a commercial trucking company is not just about driving the truck.  You’ll need to know how much it costs to maintain a fleet of trucks and drivers. We can’t forget about how much money it will take to get your carrier licensed in order to be able to transport goods or materials from one place to another. While these steps are not easy, they are necessary if you want your own trucking company that will last for years.

3) Decide on Vehicles

Each type of truck has its own pros and cons. What you’ll want to do is take a long hard look at your fleet and decide which vehicles are best suited to handle the demands of your company. Generally, you’re going to want some combination of dump trucks, flatbeds, refrigerated trucks, delivery vans, reefers, pick-up trucks, box trucks or service work vans. The more variety you have in your fleet the more flexibility you’ll have with how you run the business on a day-to-day basis. And remember: no matter what type of truck they are they all need tires (among other necessities) so make sure that comes into consideration when budgeting for different types of vehicles.

4) Choose a Brand

Choosing a name is crucial, as this will represent your company and be the first point of contact with any potential customers. If you’re unsure about your company’s niche, it’s important to think about who your target customer is, their demographic, and what their typical needs are. 

You’ll also need to come up with a slogan to help represent your company. This should be memorable and identifiable–without a slogan people won’t remember who you are or what you’re offering.

5) Focus on Technology

These days it’s easier than ever to start a company with everything you need at your fingertips. It’s important to evaluate all the tools and services that are available before you begin so you know what type of technology will work best for your needs. Below is a list of must-have technology items that any commercial trucking company should have: – A GPS system (with driver-focused features) – Mobile access to the GPS in order to provide directions, reroute drivers, and monitor fuel usage on the go &

– Automated dispatch software or a telematics solution like trucker information services (TIS) that can sync up with routing systems and satellites.

Partner with United Funding Group

 In these uncertain times, it’s more important than ever to have a reliable partner you can count on for funding, especially with a Startup business. United Funding Group has a long history of helping small businesses weather tough times. We offer a variety of funding options that can be tailored to your specific needs. So if you’re worried about how inflation will impact your business, give us a call. We’re here to help.

Contact UFG, Today!

United Funding Group provides funding for all types of businesses, regardless of industry. We provide merchant cash advances for many industries, including retail, service, restaurant, and real estate investment. Whether expanding your business or opening a new one, we can get you funded quickly and easily. Contact us today to learn more about merchant cash advances from United Funding Group, ufgfunding.com. 

Planning to renovate your business location? Be sure to check out these five tips for how to get the work done on a budget, no matter how small your renovation budget may be.

1) Consider if you need renovation at all

Before you start talking about how to renovate your business location, you need to figure out if you actually need it. There are a lot of benefits to revamping your storefront; an updated store will not only make your customers feel more welcome, but they’ll also notice that the store has been taken care of and this might convince them to stay and shop more. But even though there are plenty of reasons why updating is good for business, that doesn’t mean it’s right for everyone. The decision should ultimately be up to the owner on whether or not they want an update. Sometimes new isn’t necessary, if a business already has an aesthetic they’re happy with and working well with their customers.

2) Know what to expect when hiring a contractor

1. Some contractors work exclusively on residential projects, while others focus solely on commercial construction. If you’re renovating a large space, it’s important to find a contractor that specializes in commercial work. 2. Make sure you get your project started and submitted for bid before the summer months arrive as this is when contractors are busier with other projects or spend time on vacation. 3. Plan ahead by mapping out exactly what you want and how you envision your new location to look – pictures, sketches, drawing or anything else will help the contractor understand your vision more quickly and give him an idea of where to start first as well as any special attention needs (example: lighting plan). 

3) Assess your needs beforehand

Think about how you want your business to look and feel. Try to include details that will make the space feel like a reflection of you, your brand, and your company’s values. It can be very helpful to work with a designer who specializes in commercial design.

4) Do it yourself (DIY)

There are a few things you can do on your own to help upgrade your business location and make it look more professional. The first thing is to paint the walls and ceiling with an eggshell, low-luster paint. It will be easier to maintain and update over time as well as bring out a room’s natural light. The second thing is to replace outdated window treatments like horizontal blinds with vertical ones. Third, replace existing fixtures like bathroom exhaust fans for newer ones that are more energy efficient. Fourth, add decorative touches by using custom-made wood trim around windows and doors to give a modern feel. Fifth, install new floors such as hardwood or luxury vinyl plank flooring instead of carpeting that becomes stained over time.

5) Avoid making common mistakes

1. Not Planning Out the Project- Moving fast and breaking things will cost you more time and money in the long run. 

2. Ignoring Loose Plumbing- Insulate pipes with pipe insulation or add insulation to your attic, basement, or crawl space to reduce heating costs in your home by 10%. 

3. Forgetting To Insulate Windows- Install storm windows over the vulnerable glass in your house like a bay window or an extra wide picture window so that it doesn’t constantly get cold and drafty inside.

Partner with United Funding Group

In these uncertain times, it’s more important than ever to have a reliable partner you can count on for funding, especially with a Startup or small business. United Funding Group has a long history of helping small businesses weather tough times. We offer a variety of funding options that can be tailored to your specific needs. So if you’re worried about how inflation will impact your business, give us a call. We’re here to help.

Contact UFG, Today!

United Funding Group provides funding for all types of businesses, regardless of industry. We provide merchant cash advances for many industries, including retail, service, restaurant, and real estate investment. Whether expanding your business or opening a new one, we can get you funded quickly and easily. Contact us today to learn more about merchant cash advances from United Funding Group, ufgfunding.com.