Today’s business owners are more web-savvy than ever before, and this primarily translates into spending increased amounts of time researching before making a business decision. Google estimates that the average person performs 12 research-intensive searches before making a service or general purchasing decision. As a financial service provider, you’re now getting compared against other practices and firms more than ever before.
There is a proven sequence of steps you can follow to guarantee your success when you’re starting a small business online. I’ve seen thousands of people start and grow successful businesses by doing the following :
Back when peer-to-peer lending was just getting started, a little-guy lender, with just a few bucks, could play banker to a bakery owner, jewelry designer or other entrepreneur who needed a little cash to expand. Then the financial crisis happened, defaults rose, and hedge funds searching for yield in a low-rate environment got into the peer-to-peer debt game, transforming these little-guy lenders into marketplace ones.
These days, it’s tough to find the money you need to start a business, let alone stay in business. Today, the alternative lending space is crowded with marketplace lenders, non-bank newcomers, and cash-advance firms willing to lend to all comers at ultra-high rates. Entrepreneurs have more options for financing than ever before — but they also need to figure out how to sort through offers that are often complex and difficult to compare, potentially putting their businesses at risk with a wrong move. The volume of loans through the marketplace lenders has doubled every year since 2010, reaching $14 billion last year.
So how will this land rush of alternative lending play out? And what does it mean for the entrepreneurs who are looking to fund their growing businesses?
To better understand the small business funding and financing options out there; here are five blogs that show you what’s available, how to best take advantage of them, plus winning strategies for scoring the capital you need to grow your company.