Surprise! We Found 10 Secret Startup Financing Sources and Tactics

Secret Startup Financing – is There Really Such a Thing?

Are you just getting started? The thrill of chasing a new business dream will always lead you to one rude awakening, you need money! But how are you going to get it? Here’s where secret startup financing comes into play. C’mon in, and we’ll show you.

Well-Known Kinds of Startup Financing

If you know people who’ve started businesses, often their financing came from places like:

  • Using personal credit cards
  • Using personal savings (i.e. “bootstrapping”)
  • Home equity loans
  • Conventional bank loans (often secured with collateral)

What About Not So Well-Known Kinds of Funding for Startups?

All these can work. But they all risk personal assets. But there are a lot of OTHER ways of getting startup money, where you don’t put your home or savings on the line.

Secret Startup Funding Tactics: the View from 20,000 Feet

You will need to give up something to get these kinds of startup financing. It can be:

  • Business control
  • Business ownership (i.e. equity)
  • Your time and brainpower
  • Paying higher interest rates than you would tend to see

If these are acceptable to you, then check out these 10 secret ways to get startup financing!

#10 Venture Capital

We start with venture capital funding. But keep in mind it won’t be a workable option for most businesses and industries. Venture capitalists give money to help build new startups. But only if the VCs believe a company has both high-growth and high-risk potential. These tend to be fast-growth companies with an exit strategy already in place. Venture capitalists often look to recover their investment in 3—5 years.

VCs will also, often, want to own a large piece of a company if not a controlling stake. This means in exchange for their money, they could be calling the shots. They want game-changing businesses. So straightforward businesses won’t be on their radar unless they’re shifting the paradigm. Never forget, you are giving up a part of your ownership in your business. VCs often want a larger share of your business than angel investors do. More on angel investors later.

Venture Capital: Terms and Qualifying

Venture capitalists are much more formal investors than angels. So a valuation of your business is often going to be necessary. Specific terms will be spelled out in your agreement with them. The Securities and Exchange Commission will also have requirements. It is best practices to consult with a lawyer well-versed in business law before you sign anything.

#9 Alternative SBA Loans

We continue with a kind of private investor loan, also called private lending. Private lenders tend to be funded by investors, or by banks, or both. Private lenders are in the business of taking funds from private investors. They make private business purpose loans with those funds. This often involves real estate. These can be hard money loans.

Alternative SBA Loans: Terms and Qualifying

Private lenders will be more creative, and investigative in qualifying income. They may be willing to overlook background flaws upon explanation. But hard money loans are often short term. Terms tend to be 6—36 months. They have a higher interest rate than traditional bank loans. So account for the higher interest rate when determining if a private investor loan is right for your business.

 #8 Equity Crowdfunding

If you don’t mind giving up some of your business, then consider equity crowdfunding. Equity crowdfunding is a stock offering from a company not listed on stock exchanges. Equity crowdfunding has been around for less than 10 years. It’s not the same as rewards-based (which comes from places like GoFundMe).

Potential investors visit a funding portal website. There, they can explore different equity crowdfunding investment opportunities. Note: there are limits on how much capital an individual can invest based on their income and net worth. Equity crowdfunding gives investors a stake in your business.

Equity Crowdfunding: Terms and Qualifying

Equity crowdfunding tends to be covered by federal laws like the Securities Act of 1933, Regulation Crowdfunding (17 CFR Part 227), Regulation D Rule 506 (17 CFR § 230.506), and Regulation A+ (17 CFR § 227.100). Federal law can be complex. It’s not something you’ll learn just with a little Googling.

It is always best practices to consult with an attorney well-versed in federal law, specifically, securities and corporations when it comes to interpreting terms and qualifications. This includes any changes made to these aspects of the law in the future. Therefore, factor in the cost of a lawyer if you decide to go for equity crowdfunding.

And, it’s entirely possible that more regulation will hit this industry in the future.

#7 Reward-Based Crowdfunding

This is the type of crowdfunding you’re a lot more likely to have heard of. You can get money from the crowd for your business. Start with a service like Kickstarter. But make sure you read the fine print (always a good idea!). Many crowdfunding platforms make you give all the funding back if you do not make your goal by the end of the campaign. But Indiegogo has a flexible funding option.

Reward-Based Crowdfunding Details

Crowdfunding platforms will take a percentage of the donations. That’s how they make their money. Crowdfunding platforms may push to have you deliver on your promises. So you’ll have to manufacture a product or do whatever else your business is supposed to be doing.

Given how much social media we’re all bombarded with these days, it should come as no surprise, donors can become weary of crowdfunding pitches. You will do better if you start off with a substantial (as in, over 1,000 connections) social media following.

Reward-Based Crowdfunding Caveats

Crowdfunding tends to work best when donors can personally connect with a product or service. Straightforward businesses may not do so well. The kinds of businesses which do the best often associate with:

  • Products not quite on the shelves yet, or
  • Artistic endeavors

10 Secret Startup Financing Sources and Tactics Credit Suite2Standard widgets or service-based businesses do not tend to attract brand ambassadors. They won’t tend to get donors too fired up. Because crowdfunding campaigns are time-consuming, it doesn’t make sense to try this form of funding unless you realistically feel your chance of success is better than 50%

Reward-Based Crowdfunding: Terms and Qualifying

Terms will differ depending on which platform you use. Check and make sure your platform of choice will allow your industry to work with them. For example, recreational cannabis use is legal in Massachusetts. But Kickstarter (for example) doesn’t allow fundraising for drugs and related paraphernalia.

Any major crowdfunding platform has a rules section, a FAQ, or ‘how it works’. Be sure to read such a section thoroughly so you know exactly what you’re getting yourself into.

#6 Peer to Peer (P2P) Lending

If you don’t mind investing time and potentially effort, then try Peer-to-peer lending. Peer-to-peer lending allows people to borrow and lend money without a financial institution. P2P platforms connect borrowers to investors faster and cheaper than any bank. These platforms check risk carefully and report on them to peer lenders. Hence your business might be listed on a P2P platform, but show a high risk. It would therefore not attract many lenders.

Peer to Peer: Terms and Qualifying

Terms vary, not only from platform to platform, but also among risk levels. The number of P2P platforms has changed in the past few years. Always check the specifics on any P2P platform’s website before committing yourself. Checking the Better Business Bureau or maybe Yelp reviews before getting started is a good idea.

#5 Online Lending

If you’re okay with paying potentially higher interest rates, and an investment of time investigating your options, online lending could work for you. For certain industries, online lending is one of the only ways to get money.

For example, medical cannabis is legal is most of the country, yet more traditional lenders are still less likely to approve a loan. But lenders that specialize in the cannabis industry (and similar hard to fund industries) are out there.

There are online lenders with over a decade in business. OnDeck dates back to 2006. And Quicken Loans goes back to 1985! As with many industries, a longer time in business is more likely to inspire confidence in a lender.

Online Lending: Terms and Qualifying

Terms and qualifications will vary. Read all the fine print with care. Check all companies with the Better Business Bureau or your local Chamber of Commerce. Always treat deals that seem ‘too good to be true’ with a healthy dose of skepticism.

#4 Private Grants

Grants will always require an investment of time. There are businesses which offer grant money. You can also check with your alma mater, or even the alumni division of your fraternity or sorority. That is, if you participated in Greek life during school. Check other organizations where you or a family member is a member of a fraternal organization like the Elks or the Moose. They may have grants IF your business is a nonprofit.

If you are a member of a protected class, like LGBTQ+, Asian, disabled, female, etc., then check Google but be mindful that there are scammers out there. Again, be sure to check the Better Business Bureau or ask your local Chamber of Commerce if you’re unsure. Terms and qualifications will vary from provider to provider and potentially from year to year.

#3 Federal Grants

Federal grants generally do not have to be paid back. For urban projects, try HUD (Housing and Urban Development). For rural projects, try the USDA (Department of Agriculture). Federal funding means paperwork . You often must show experience in what you are proposing.

Federal Grants: Terms and Qualifying

Grants have varying qualifications. They are VERY COMPETITIVE. Be sure to check information thoroughly! This includes due dates and any necessary paperwork. So beyond spending time, often you will also be gathering paperwork.

Some grants may offer preferences to businesses with minority, female, veteran, or disabled ownership. Grants often aren’t for a lot of money. So don’t use them as your sole/principle source of funding. But they can supplement other funding you get.

Make sure to do a rough cost-benefit analysis to see if it’s worth your time to apply to any particular grant.

 #2 Local, City, and State Grants

Your local government also provides grants.  Also try city and state websites. They’re often less restrictive than federal grants. Show you will help the community. Try to partner with a local business.

Local, City, and State Grants: Terms and Qualifying

Just like with federal grants, check all requirements and other information with care. You may need to be a resident of the state or city or county in question, or your business may need to be headquartered there. It never hurts to ask. Again, they tend to not be for a lot of money. A lot of effort for very little money may not be the best use of your time and attention.

#1 Angel Investing

Our #1 secret startup financing tactic is to use angel investing. In this instance, you’re giving up some of the equity in your business. But it’s often not control over basic decisions. Angel investors invest in small startups or entrepreneurs. Often, angel investors are among an entrepreneur’s family and friends. Yes, that can be Mom and Dad. The capital they provide may be a one-time investment to help the business get started. Or it can be an ongoing injection of money to support and carry the company through its early stages.

Angels are not covered by SEC standards for accredited investors. Angels could be friends or colleagues sitting on home equity. Or local professionals who are looking to invest. Consider people you know well and people you don’t know so well. Keep in mind, like with venture capital, you’re giving up part of your ownership in your business.

Angel Investing: Terms and Qualifying

Angels are informal investors so there aren’t any real terms. So technically, you do nothing to qualify. Although investors may (probably should) insist on a valuation of your business. No matter what, it’s always a good practice to get everything in writing.

Secret Startup Funding: Takeaways

Less conventional and not so well-known startup financing is out there. But you will have to give up something to get it, like time or business equity. No one but you can decide what will work best for you. And contact us today for information on startup financing sources that might not ask quite so much from you and your business.

The post Surprise! We Found 10 Secret Startup Financing Sources and Tactics appeared first on Credit Suite.

The Best Options for Small Business Startup Grants Revealed

Business grants are not easy to come by for anyone, but for startups, it’s a whole other story. Small business startup grants do exist.  However, they are even more competitive than grants for existing businesses. We have put together a list of some of the best options, along with some tips on funding startups if grants aren’t enough. 

Are Small Business Startup Grants Always the Best Option? 

There are a lot of options out there when it comes to small business grants. Who doesn’t want a grant?  After all, it’s free money. You don’t have to pay it back. I mean, what’s not to like?

Truly, grants sound like the perfect solution for business funding.  Actually, they are great if you can get one.  Yet, there are two cons most don’t realize.  Of course they are highly competitive.  But also, the money isn’t as free as you may think. Even though there is no interest and no repayment, it often takes a lot of time and effort to apply for a grant. Not to mention, sometimes there is an application fee. 

On top of the highly competitive nature of most grants, the result is that you could spend a lot of time and money applying for grants with nothing to show for it. 

Learn more here and get started with building business credit with your company’s EIN and not your SSN.

Why Are Startup Grants Different?

Unfortunately these problems are only magnified when it comes to small business business grants. There are far fewer grants available to startups.  That means the competition is even more fierce.  Furthermore, most of them are not open to just any business.

There are research and development grants, as well as grants for specific types of business owners.

Examples include: 

  • Veterans
  • Minorities
  • Women
  • And those in low income areas

Is It Even Worth it to Apply?

Due to the fact that it can be very hard  to get a grant, you may wonder if it’s even worth trying. That depends. Honestly, If the application process is fast and cheap, then yes, it is likely worth it. Of course, that is assuming you know that you meet all of the requirements. 

However, if you are not sure you qualify, and the application process is long or there is a large application fee, it might be best to skip it. Remember, you can use that time and money to pursue other funding options.

Best Options for Small Business Startup Grants 

We’ve put together a list of some of the easiest grants to qualify for.  Still, competition is still very tough.  Also, there are never any guarantees. We’ve divided them into the following categories: 

  • Open to all businesses
  • Innovation and Research
  • Women
  • Minorities
  • And veterans

Best Open to Any Small Business Startup Grant

FedEx Small Business Grant Contest

The FedEx Small Business Grant is one of the most popular small business startup grants around. The contest is open to any business that has been in operation for at least 6 months and has 99 employees or less.  It awards eight $7,500 grants, one $15,000 grant, and one $25,000 grant to winners each year.

Best for Innovation and Research

Small Business Innovation Research Program

This grant is designed to provide funding for scientific research and development. The business must be an organized for profit, with a place of business located in the United States. In addition, it must be more than 50% owned and controlled by one or more individuals who are citizens or permanent resident aliens of the United States. It can have no more than 500 employees. 

Learn more here and get started with building business credit with your company’s EIN and not your SSN.

Best for Women Business Owners

Amber Grant 

The Amber Grant awards one prize of $10,000 per month to a woman-owned business. One of the recipients also receives an additional $25,000 grant at the end of the year. Applicants only need to tell their story and turn it in with a $15 application fee.

Best for Minorities

The Minority Business Development Agency

The Minority Business Development Agency (MBDA) is operated by the US Department of Commerce. It is dedicated to helping minority-owned businesses access the resources they need to grow and succeed. They provide grants through their Minority Business Centers.

You can find grants available in your area by searching for your local Minority Business Center or visit the MBDA’s website for information on all current opportunities. You also need to have a D-U-N-S number to apply for these grants. Which is necessary for fundability anyway.

Best for Veterans

StreetShares Foundation’s Veteran Small Business Award

The StreetShares Foundation’s Veteran Small Business Award is for individual veterans who are low-income or otherwise lack the financial means to start their own business or nonprofit venture.  This grant is also available to surviving spouses and children. The winner must have a positive impact on the veteran community.

Honorable Mention

The InnovateHER small business challenge is sponsored by the SBA office of women’s business ownership. The program awards three winners $30,000 in prize money for businesses that have an impact on the lives of women. Awards are designed for products that meet certain standards including: 

  • Having a measurable impact on the lives of women and families (30%)
  • Having the potential for commercialization (40%), and
  • Filling a need in the marketplace (30%)

What if Grants Aren’t Enough?

It’s almost certain grants will not be enough. Of course, any free money is better than none at all.  Still, you cannot rely on grants alone to fully fund your business. Instead, one of the best things you can do for your business is build a strong business credit profile. 

A business credit profile is the credit history of the business itself, not the owner. It includes all business information and the business credit report, which reflects the business credit score.

To establish a business credit profile your business needs to be fundable. As a startup, this means starting now.  Get an EIN, incorporate, make sure you have a physical business address and open a separate, dedicated business bank account. 

Honestly, these things are good to have for a grant application anyway. After you establish a business credit profile, look for vendor credit that will report payments to your business credit report. Most importantly, always pay everything on time.

Learn more here and get started with building business credit with your company’s EIN and not your SSN.

Business Funding With Business Credit

In time, you will have a strong business credit score. Then, you can apply for business loans and lines of credit using your business information, and your business can basically fund itself. Any grant money you can get will be icing on the cake. 

The post The Best Options for Small Business Startup Grants Revealed appeared first on Credit Suite.

Startup Money for Business: Check Out Your Choices

How to Get Startup Money for Business

Are you looking for startup money for business? Starting a business can be an exhilarating experience. That is, except for the part about needing money. But your startup won’t survive for long without cash. If you’re not independently wealthy and can bootstrap your dream, what do you do?

The answer: think like a lender.

It may seem simplistic, but lenders just want two things: to make money off the loans they offer and be paid back by their borrowers. The first one is a result of their choices of loans to offer and terms. The second is in your hands.

The 3 Cs Capital Acquisition Formula

This is why lenders look at one of three things for loan approval: cashflow, collateral, or credit. The more of these “Cs” you have, the more funding options are available. For all the funding we cover in today’s post, we show you exactly what you need to have for approval.

But keep in mind, startups have it rough.

With very little time in business, they can’t prove that they’re getting steady cashflow. They just plain don’t have a big enough sample size. A short time in business is also seen as less stable, because about 1/5 of all new businesses fail in the first two years. So the first “C” is out.

But that’s okay. Because you’ve got access to two more.

Demolish your funding problems with 27 killer ways to get cash for your business.

Startup Money for Business: Using Collateral

Collateral is a great way to assure a lender that you’ll pay them back. And while your business might not have too much collateral yet, you probably have something you can pledge. It’s time to think outside the box.

401(k) Financing

This is not a loan. And you will not have to pay an early withdrawal fee or a tax penalty. You put the money back by contributing, like with any 401(k) program. This means you won’t lose your retirement funds. This is a 401(k) Rollover for Working Capital program. The IRS calls it a Rollover for Business Startups (ROBS).

According to the IRS, a ROBS qualified plan is a separate entity with its own set of requirements. The plan, through its company stock investments, owns the trade or business. That is, not the individual. Hence, some filing exceptions for individuals may not apply to such a plan. This type of financing isn’t a loan against, your 401(k), so there’s no interest to pay. It does not use the 401(k) or stocks as collateral. Instead, this is no more than a movement or change of custodian.

401(k) Financing: Terms and Qualifying

Low rates, often less than 5%. Your 401(k) must have more than $35,000 in it. You can usually get up to 100% of what’s “rollable” within your 401(k). The lender will want to see a copy of your two most recent 401(k) statements.

You can get 401(k) financing even with severely challenged personal credit. The 401(k) you use cannot be from a business where you are currently working. So it must be from older employment. You cannot be currently contributing to it.

IRA Financing

Don’t have a 401(k) that would work? Then try IRA financing. It’s a lot like 401(k) financing. In as little as 3 weeks you can invest a part of your retirement funds into your business. This gives you more control over the performance of your retirement plan assets. And it gives you the working capital you need for business growth.

IRA Financing: Terms and Qualifying

In general, you will work with a CPA. They will help you roll over a non-contributing and qualifying account. This allows for cash out of half, or $50,000, whichever is lower. If applicable, a CPA you work with will structure a self-directing IRA for the remaining funds.

Stocks Financing

Do you own stocks? Some lenders will make loans using securities as collateral. Securities-based lending provides ready access to capital. You can use this capital for almost any purpose, such as buying real estate or investing in a business. The only restrictions to this kind of lending are other securities-based transactions. For example, like buying shares or repaying a margin loan..

Stocks Financing: Terms and Qualifying

You continue to earn interest on stocks you pledge as collateral. Closing and funding takes less than 3 weeks. Rates can be as low as 1.6%. But you will have challenged personal credit.

Demolish your funding problems with 27 killer ways to get cash for your business.

Bonds Financing

Bonds will work just as well as stocks. Securities-based lending for bonds comes from large financial institutions and private banks. People tend to seek out these kinds of loans, if they want to make a large business acquisition. Another reason is if they want to execute large transactions like real estate purchases.

Lenders determine the value of the loan from an assessment of the borrower’s investment portfolio. In some cases, the issuer of the loan may determine eligibility based on the underlying asset. It can end up approving a loan based on a portfolio of US Treasury notes rather than stocks.

Bonds Financing: Terms and Qualifying

Most investment-grade corporate, treasury, municipal, and government agency bonds are good to use. You keep all the interest and appreciation from your securities. To qualify all the lender will want is a copy of your two most recent securities statements. If your stocks or bonds have a value over $25,000, you can get approval, even with severely challenged personal credit.

No Collateral to Get Startup Money for Business? Not to Worry

If you’ve got good personal credit, we can tie a direct line from it to good business credit. The good FICO score doesn’t have to be yours; it can be a credit partner’s.

Credit Line Hybrid

A credit line hybrid is a form of unsecured funding. Our credit line hybrid has an even better interest rate than a secured loan. Get some of the highest loan amounts and credit lines for businesses. You can get 0% business credit cards with stated income. Many of these report to business CRAs. You can build business credit at the same time. This will get you access to even more cash!

Credit Line Hybrid: Terms and Qualifying

You need a good credit score or a guarantor with good credit to get an approval (a FICO score of at least 680). No financials are necessary. You can often get a loan of up to $150,000. Some cards may report on your personal credit.

Demolish your funding problems with 27 killer ways to get cash for your business.

Get Startup Money for Business by Building Business Credit

And keep in mind: our Credit Line Hybrid isn’t the only way to build business credit. Business credit is an asset, and lenders like to see that yours is good. But you’ve got to work at it.

Start with vendor accounts. Starting with vendor credit accounts is a proven way to start building business credit. But we don’t include vendors just because they report to the business credit reporting agencies. We include them and we talk about them because they have quality products that you can use, and fantastic customer service. They are more than a means to an end!

Vendor Credit

Starter vendors are open to working with most businesses, even startup ventures like yours! Make sure vendors report to the CRAs – not all do. Vendors report to the business CRAs within 60 days. They help you build your business credit profile and score.Startup Money for Business Credit Suite

Vendor Credit: Terms and Qualifying

Terms will vary depending on the vendor, but they tend to be Net 30. Some will not accept virtual offices. You will often need a D-U-N-S and an EIN at the very least. But you will not need collateral, good personal credit, or cash flow.

And continuing to grow your business credit portfolio means credit cards. Add payment experiences from at least three vendors. Once they report to business CRAs like Dun & Bradstreet, you start qualifying for store credit, and fleet credit, too. While your startup grows, so will your business credit.

Get Startup Money for Business: Takeaways

Startups have a few strikes against them when it comes to getting business financing. But you may have collateral right now, and can use it to get money. Good personal credit is another thing you can leverage. And it doesn’t even have to be your own good personal credit! And build business credit for the best chances for the most money. Contact us today for the details.

The post Startup Money for Business: Check Out Your Choices appeared first on Credit Suite.

Top 5 Tips for How to Get a Startup Business Loan

Are you trying to start a business and wondering how to get a startup business loan? Maybe you think you don’t qualify. Maybe you have been trying but keep getting denied. These tips, including one that almost no one knows about, will help you obtain the funds you need to get your business off the ground. 

How to Qualify for a Startup Business Loan No Matter What

Usually, to get a traditional business loan you need good credit, strong cash flow, and collateral. If you are a startup, you may not have cash flow yet.  You may have good personal credit, which can help, but it’s unlikely that you have established business credit.  Honestly, you may have collateral, or you may not. 

However, there are some loan options you can qualify for with just one of these three things. 

5.What Are Your Options for a Startup Business Loan? 

Tip number one for how to get a startup business loan is to know your options. This is the hardest part. It can be easy to get overwhelmed when you start looking at loan requirements. Most traditional loan options require collateral, cash, and good credit even if you are a startup. 

Credit Line Hybrid Financing: Get up to $150,000 in financing so your business can thrive.

The first step in knowing how to get a startup business loan is understanding what your options are based on your specific qualifications. Here are a few ideas to get you started. 

Options for Small Business Startup Loans if You Have Collateral

If you are looking for a straight business startup loan, collateral-based loans are going to be the easiest to get. You use your assets as security.  As a result, rates are lower, and your personal credit doesn’t have as much of an impact. Of course, collateral can be anything.  Still, here are some outside-of-the-box ideas you may not have considered. 

Securities-Based Financing

For example, you can use stocks as security to get business financing. In fact, you can borrow as much as 90% of their value. Furthermore, you continue to earn interest on the stocks even as they are pledged as collateral. 

401(k) Financing

Your existing 401(k) or IRA can help fund your business as well. This is a unique funding tool known by the IRS as a Rollover for Business Startups, or ROBS. There are no tax penalties, and you still earn interest on your 401(k).

Equipment Financing

Equipment financing is a great way for a startup to get financing to buy or lease new equipment. Use your first and last month’s payments to get approved. However, rates vary widely based on risk factors.  The lender will undervalue equipment by perhaps up to 50%. Also, this only works for major equipment. Lenders won’t combine a lot of small equipment.

SBA Loans for Startups

There are a few different SBA programs that can work for startups that have collateral.

7(a) Loans 

The Small Business Administration’s 7(a) loan program offers federally funded term loans up to $5 million. Generally, these loans can be used for expansion, purchasing equipment, working capital and more. Banks, credit unions, and other specialized institutions process these loans and disburse the funds. 

504 Loans 

In addition, 504 loans are available up to $5 million.  These funds can buy machinery, facilities, or land. Typically, they are used for expansion, and they work especially well for commercial real estate purchases. 

Microloans 

In contrast, microloan amounts are smaller, only going up to $50,000. Use them to start a business, purchase equipment, buy inventory, or for working capital. Community based non-profits administer microloan programs as intermediaries, with financing coming directly from the Small Business Administration. Banks do not handle these loans. As a result, many entrepreneurs do not even know they exist. 

How to Get a Startup Business Loan Without Collateral? 

What if you do not have collateral. In the absence of cash flow or good credit, how can you get  the funds you need? 

Credit Line Hybrid Financing: Get up to $150,000 in financing so your business can thrive.

You may have to use a guarantor.  Simply put, a guarantor is someone who signs the loan with you and agrees to repay the debt if you do not. While traditional guarantor loans are fine, there is an even better option. In fact, with this little known-option for business funding, you can get funds up to $150,000 with 0% interest for up to 18-months!

The best part is, you either need good personal credit (above 680) or a guarantor, not both!

Credit Line Hybrid

The Credit Line Hybrid allows you to fund your business with no collateral and typically very low interest rates.  No financials are required.  You can usually get a loan of 5x the amount of your highest revolving credit limit account, up to $150,000. You do not have to use a guarantor, but you do need a 680+ credit score to qualify without one.

4. Learn How to Set Your Business Up the Right Way 

Have you ever heard the term “fundability?” Fundability refers to a business’s current ability to get financing. For a business to be fundable, it has to have a fundable foundation. This means the way you set up your business is a big piece of how to get a startup business loan. 

A fundable foundation includes: 

  • Separate business contact information 
  • EIN
  • Incorporating
  • A D-U-N-S Number
  • Dedicated business bank account
  • A professional business website with an email address that shares the URL

Infographic

The foundation includes only a fraction of the over 100 factors that affect the fundability of a business. However, none of it matters without the foundation. 

3. Do Not Underestimate Business Plan Importance

You need a strong business plan that will grab the attention of the lender. They need to see what you plan to do with the money. They need to know you have a strategy, that you’ve done your market research, and that you have some skin in the game. 

Many business loan applications are denied because the business plan is poorly put together or non-existent. 

2. Don’t Ignore Your Business Credit Score

Many business owners either do not know that there is such a thing as a separate business credit score, or they grossly misunderstand it. Your business credit score reflects the creditworthiness of your business separate from you as the owner. Unlike personal credit, it does not build passively. You have to be intentional about building business credit. 

The first step is building the fundable foundation. That will establish your business credit profile. Then, you have to get accounts reporting your payments to that profile before you will start to build a business credit score. 

That is easier said than done, because unlike consumer credit where pretty much all accounts report your payment history, only about 7% of accounts that use business credit to make approval decisions will report payment history to your business credit profile. 

There are a few ways to get accounts reporting. One of them is the Credit Line Hybrid

Credit Line Hybrid Financing: Get up to $150,000 in financing so your business can thrive.

1. Secret Expert Tip

This tip for how to get a startup business loan is one that very few people know about and even fewer talk about. The best way to get a startup business loan, or any business loan for that matter, is to work with a business credit expert.  

How can a business credit expert help?  First, they can help you find the funding you need right now. But more than that, they can analyze the current fundability of your business and your business credit profile, and walk you through the steps necessary to establish or improve. Since there are over 100 factors that can impact fundability, this is a huge timesaver.  Not only that, but it is helpful to ensure you don’t miss anything. They know what they are doing. 

Now that You Know How to Get a Startup Business Loan, Here’s What to Do Next

Why not start at the top and get things off to the best start possible? A free consultation with a business credit expert can point you in the right direction. With an expert guiding you the entire way, you’ll save both time and money, and you will know without a doubt that you are on the right track. 

The post Top 5 Tips for How to Get a Startup Business Loan appeared first on Credit Suite.

Ecommerce Startup Inventory Financing

How Can Ecommerce Business Startup Inventory Financing Help Your Business?

Selling goods online? Then you might need Ecommerce startup business inventory financing.

Our World Has Changed – and It’s Gone Even More Online

Ecommerce is where it’s at.

Not convinced?

While there was already a lot of online commerce, in March of 2020, due to COVID-19, a good 42% of Americans bought groceries online at least once per week. Orders for grocers from Amazon increased 50 fold!

Statista says about 227.5 million Americans were buying online in 2020, so with 330.7 American citizens, that’s just under 69% of all Americans. They are buying a lot more than groceries online. And that’s only continuing in 2021.

What is Ecommerce Startup Inventory Financing?

According to Investopedia, “Inventory financing is a revolving line of credit or a short-term loan that is acquired by a company so it can purchase products for sale later. The products serve as the collateral for the loan.”

Why Can Ecommerce Startup Inventory Financing Work Right Now?

Online businesses are doing relatively well right now. You already have experience with doing all of your commerce online. With a lot of brick and mortar businesses closed right now, or only tentatively reopening, ecommerce businesses can continue to do well.

Consider Ecommerce Startup Inventory Financing

Use your existing inventory as collateral for business financing. You’ll need inventory valued at $300,000 or more. You can get approved for a line of credit for 50% of inventory value. Rates are usually 5 – 15% depending on type of inventory. Get funding within 3 weeks or less. It can’t be lumped together inventory, like office equipment.

But there may be restrictions on the type of inventory you can use. This can include not allowing cannabis, alcohol, firearms, etc., or perishable goods. There can be revenue requirements. There may also be minimum FICO score requirements.

Alternatives to Startup Inventory Financing

There are a number of other ways to get financing for your online business. Your business – and you – have assets beyond inventory. You can tap these assets as collateral. You can use: a 401(k) or IRA, accounts receivable, or stocks or bonds. The 401(k), stocks, or bonds don’t have to be yours. You can work with a partner with these kinds of assets.

Securities-Based Financing

Use existing stocks as leverage to get business financing. Borrow as much as 90% of their value. You continue to earn interest on the stocks pledged as collateral. Closing and funding takes less than 3 weeks.

Rates can be as low as 1.6%. This is a working capital line of credit. You will have challenged personal credit.

Demolish your funding problems with 27 killer ways to get cash for your business.

401(k) Financing

Use your existing 401(k), or IRA as collateral for business financing. This program uses IRS proven strategies. You will pay no tax penalties.

You still earn interest on your 401(k). pay low rates, often less than 5%. Close and fund in less than 3 weeks. You can usually get up to 100% of what’s “rollable” within your 401(k).

Follow these steps. A new corporation is formed; a retirement plan is created to allow for investment into the corporation; funds are rolled over into the new plan. Then the new plan purchases stock in corporation and holds it. The corporation becomes debt free and cash rich.

Accounts Receivable Financing

Use your outstanding account receivables for financing. Get as much as 80% of receivables advanced ongoing in less than 24 hours. The remainder of the accounts receivable are released once the invoice is paid in full. Closing takes 2 weeks or less. Factor rates as low as 1.33%. Accounts receivable credit line with rates of less than 1% with no consumer credit requirement

Receivables should be with the government or another business. If you also have purchase orders, you can get financing to have those filled. You won’t need to use your cash flow to do so.

Amazon Corporate Credit Line

Get revolving or pay in full. You can authorize multiple buyers on a single account and download order history reports and pay by purchase order.

With the pay in full credit line, you get net 55-day billing terms to pay in full with no interest. You can set up primary and secondary accounts for multiple purchasers. And you will get a Dedicated Account Manager.

For the revolving credit line, you can make minimum payments or pay in full monthly. Pay 12.99% purchase APR (the minimum interest charge is $1). You get an option to apply as a personal guarantor to build business credit. And enjoy 24/7 Customer Service.

Amazon Lines of Credit and Working Capital Loans

If your business is eligible, you will see funding options when you log into Seller Central. Currently, lines of credit are offered by Marcus by Goldman Sachs. Loans come from Amazon Lending – specific terms are tailored to the business. Get access to loan funds within 5 days.

Kickfurther

You can finance your next inventory purchase with financing from customers and brand supporters and fundraise directly to them. The way it works is, customers buy through what’s called a Consignment Opportunity. Customers own the products they helped fund until they are sold by the brand. As soon as the products sell, the customer earns payments. Kickfurther also offers an online store for businesses to market and sell their products.

Shopify Capital

With Shopify Capital, you can get 12-month terms. Pay back with a percentage of daily sales. Borrow between $200 and $1 million. The total owed and daily repayment rate depend on risk profile.

OnDeck

OnDeck offers inventory loans and business lines of credit. Term loans runs $5,000 to $250,000, with 12-month terms paid back daily or weekly. Lines of credit run from $6,000 to $100,000. Pay back over 12 months, with automatic weekly payments.

Demolish your funding problems with 27 killer ways to get cash for your business.

Get to know Our Hybrid Credit Line Program for Startup Inventory Financing

Check out this form of unsecured funding. Unsecured funding does not require collateral, but the lender’s risk is mitigated by higher interest rates. Our credit line hybrid has an even better interest rate than a secured loan. Yet you can get the money faster and easier than any type of traditional funding. Get business funding without having to supply bank statements or credit stubs. You can get funding in a few days rather than weeks without supplying any collateral or documents.

You can get some of the highest loan amounts and credit lines for businesses. Get 0% business credit cards with stated income. No financials required. These report to business CRAs. You can build business credit at the same time. This will get you access to even more cash with no personal guarantee.

You can often get a loan of 5 times the amount of current highest revolving credit limit account. This is up to $150,000. Easily five times what you could get on your own when applying for cards. Get cash out on this program as well.

Advantages

There will be NO impact on your personal credit with this type of financing. You need a good credit score or a guarantor with good credit to get an approval. With good personal credit, get unsecured credit cards with a personal guarantee. And with good business credit, get unsecured credit cards without a personal guarantee.

Check out business credit. It should be your goal to build business credit, even if you can get funding elsewhere. Business credit will help your company for years to come. Business credit is credit linked to your EIN and not your SSN.

This credit is available without a personal guarantee. It is available regardless of personal credit. You can get business credit immediately. Business credit is the only way to get money for a business when you don’t have collateral, cash flow, good personal credit, or a guarantor.

Ecommerce Startup Inventory Financing: Takeaways

Due to current circumstances, online businesses are doing relatively well. You can get inventory financing for your ecommerce startup. Or use personal or business assets as collateral for business loans. Amazon and Kickfurther offer even more options. Our hybrid credit line is a stellar choice if you or a guarantor have good personal credit. And don’t forget to build business credit, for even more money for your ecommerce startup business.

Demolish your funding problems with 27 killer ways to get cash for your business.

The post Ecommerce Startup Inventory Financing appeared first on Credit Suite.

Ecommerce Startup Inventory Financing

How Can Ecommerce Business Startup Inventory Financing Help Your Business? Selling goods online? Then you might need Ecommerce startup business inventory financing. Our World Has Changed – and It’s Gone Even More Online Ecommerce is where it’s at. Not convinced? While there was already a lot of online commerce, in March of 2020, due to … Continue reading Ecommerce Startup Inventory Financing

24 Inbound Marketing Strategies Your Startup Needs to Start Using Today

Are you ready to skyrocket your success?

If so, you need to focus your efforts on inbound marketing strategies for your startup.

Why?

It’s one of the best ways to take market share from bigger companies, and you don’t need a hefty Facebook Ads budget to compete.

Instead of broadcasting to the customer, as traditional outbound marketing does, inbound marketing focuses on creating reasons for the customer to come to you.

According to HubSpot, which coined the term “inbound marketing” back in 2006, the strategy consists of four stages.

 inbound marketing method infographic

It’s a proven system that works for the best companies in the world, and it has launched dozens of startups to stellar success.

Inbound Marketing Strategies for Start-Ups

Now that you know what is inbound marketing and how it works, let’s dive into the best strategies for inbound marketing for startups.

1.Use Facebook to Create a Target Persona

The first and most critical part of creating compelling content is understanding what your target customers want to learn.

You need to have an in-depth knowledge of your market so you can react quickly.

Here’s how you learn more about who your audience is by reviewing your Facebook Page Insights.

First, go to your Facebook page. At the top, you’ll see a button labeled Insights. Click on it.

In the sidebar that opens, click on People.

use facebook to create a target persona for your inbound marketing strategy

From there, you’re going to want to look at the Your Fans column. Check to see where the percentages lie to understand what demographics apply to your business.

use facebook demographics to create a target persona for your inbound marketing strategy

This can give you a general feel for who is interested in your startup and start forming the basis of your target persona. But that’s not all we need.

Next, we will find out what interests these people and how you can write content that appeals to what they care about.

2. Survey Your Current Customers and Leads

The easiest way to get to know your target market is through a survey.

This doesn’t have to be complicated. If you already have an email list, you can send them a simple form through SurveyMonkey.

To make this work, you only need to ask one question: “What is your biggest struggle?”

Your goal is to understand the problems they’re facing so you can create compelling content that targets their deepest interests.

3. Conduct In-Depth Interviews to Inform Your Inbound Marketing Efforts

Once you have the general feelings of your target market, it’s a good idea to start seeking out individuals you can contact for more in-depth information.

I recommend looking for a few clients or customers you’ve already acquired.

Ask them if they’d be OK with a 10-minute phone call or a video chat about their current struggles. Mention you’ll offer them advice if you can.

(Usually, customers are excited about this. It’s like a free consultation for them.)

Once you’re on the call, try to find out exactly what their biggest struggles are. Ask them to describe those struggles in the clearest language possible.

Get to exactly what frustrates them and what solutions they tried before but didn’t work.

You’ll use this data to create content.

4. Create and Share Compelling Content

The quality of the content you create is the most important feature of your inbound marketing strategy.

If you create generic, self-serving articles and videos, you’ll never see success.

No matter how hard you promote this content or how you designed it to rank well in search engines, you’re going to struggle to find new clients and customers.

The best-in-class content marketers work tirelessly to adapt their content to the target audiences they want to attract — and where they are in the customer journey.

use inbound marketing strategies to create viral content

5. Writing Enticing Headline

Understanding the customer journey and their needs is critical to making great content, but it’s not the only strategy you’ll need to draw in new customers and leads.

The most important piece of the work you create is the headline. This is what will drive the most clicks and draw in new traffic.

You should spend lots of time crafting a headline that appeals to your most targeted customers.

One of the best ways to do this is to include a bit of negativity, according to data by WordStream.

positive vs negative headlines can help with your inbound marketing strategy

Of course, you shouldn’t always have negative headlines.

But if you have a list of mistakes or talk about the worst strategies that could hurt your customer, this can be an effective way to drive traffic.

According to Demand Metric, companies with blogs generate 67 percent more leads per month than those who don’t.

If you’re going to produce this content, you need to make sure it works to its best ability.

7. Make Your Content More Visual

Humans love visual content. For your content to appeal to your ideal readers, make sure there’s more to it than just large blocks of text.

Including lots of images, charts, and graphs is a technique I use to make my content more appealing, and I’m not alone.

90 percent of bloggers include images in their posts, and those who add multiple images report stronger results.

The more visual your content, the more likely it’s likely to improve your inbound marketing efforts.

using elements in your inbound marketing strategy
using visual media in your inbound marketing strategy

6. Write In-Depth Data-Driven Articles

Instead of writing short posts, you should be doing extensive research and producing in-depth content.

According to research by Curata, long-form content generates eight times more page views, nine times more leads, and three times more social media shares than short-form content.

long form content produces more inbound marketing leads

You should be writing articles that are a few thousand words long and supported by lots of data and analysis.

This is not only better for your SEO rankings, but it’s also more helpful for your customers.

The better your content, the more likely your readers are to share it with friends, recommend your site to others, and implement what you say.

8. Use Storytelling in Your Content

Just because you base your content around data and analysis doesn’t mean it needs to be dry and academic.

You should work to produce the opposite type of content. You want to create articles that tell a story.

Why?

Using storytelling in your content (from sales pages to social media posts) is a way to create an emotional connection with your audience.

Storytelling has another powerful function. It creates brand recall. Research by Stanford University shows people are 63 percent more likely to remember a story than a statistic.

Not convinced?

Chris Haddad (a relationship coach) went from a 2 percent conversion rate to 8 percent by changing his sales page to include a relatable personal story.

How can you use this tactic in your startup? Look for opportunities to weave in stories when talking about your product or business.

Sure, your benefits and features are great, but the emotional connection you create with storytelling will close the sale and help grow your startup through inbound marketing.

bootstrappers guide inbound marketing example neil patel

9. Make a Habit Out of Guest Posting Consistently

When you look at the data, you’ll find that guest blogging is the best inbound marketing strategy.

This is because it provides you with backlinks, authority in the space, and relationships with key influencers.

But most people go about it the wrong way. If you aren’t using smart strategies to spread your startup’s message through guest posting, you might as well not do it.

If you want to reap the benefits of guest posting, you need to write consistently.

This is how the most successful startup owners have made guest blogging work well for them. Instead of a few posts, they wrote prolifically and gained ground quickly.

If you do a Google search for guest posts by Danny Iny, you’ll find dozens of pieces of content across the web.

guest post by danny iny Google Search showing the power of inbound marketing

This massive, consistent guest-posting strategy allowed him to grow his business Mirasee into the powerhouse it is today.

On his homepage, he displays an in-depth list of all the sites where he has been featured.

the power of inbound marketing and guest blogging

Dedicate some of your time to creating compelling content for other blogs to reach as many customers as possible.

10. Pitch to Blogs with Engaged Readers

Another problem I see with entrepreneurs who want to use guest posting as an inbound marketing strategy is that they don’t look for sites that will give them much ROI.

The truth is that every guest post requires work, and that’s work that needs to give you a distinct benefit in visitors or leads.

If you post on a blog that has a dead audience, you won’t get any benefit, and you’ll have wasted your time.

I like to look at the comments on different sites. For example, if I wanted to write a guest blog for WordStream, I can see their posts get lots of relevant comments.

find blogs with engaged readers for inbound marketing guest posts

This tells me the readers are engaged, and a blog post here might result in readers clicking through to my startup’s website and purchasing from me.

11. Maximize Your Results from SEO with Keyword Optimization

You need to understand SEO to achieve any success with your startup in today’s search-driven marketplace.

The most important things to focus on are basic on-page SEO and backlinks for your site and your content.

How do you do that? Keyword optimization.

You want to find specific long-tail keywords which you’d like to use for targeting your content.

Why?

Long-tail keywords have a three to five percent higher click-through rate than generic searches. 

The more specific someone is in their search, the more likely they know what they want and are close to converting into a customer.

12. Promote Your Content to Build Backlinks

Backlinks are perhaps the most important factor in your search engine results.

At the simplest level, backlinks are other sites that link to your site. There are lots of ways to increase the number of backlinks you get to your content.

backlinks for inbound marketing content

By promoting your content to other relevant influencers, you can increase the number of people that link back to you.

The exact number of backlinks you need to be successful on the search engines varies depending on the keyword, topic, and the competing sites that are ranking well now.

With careful prompting, though, you can easily outrank pages on massive sites with more authority.

Not sure where to start with backlinks? I’ve created a free backlink checker tool you can use to find out who is linking to your startup’s competition.

13. Acquire Inbound Marketing Leads with Free Content

When it’s time to convert your visitors into leads, you need bulletproof strategies to get people to give you their email addresses.

The best method I’ve seen is to offer free content in exchange for this contact information.

If your startup is in the B2B sector, or if you appeal to customers who want or need in-depth analysis before purchasing, you can make an effective lead magnet from a report.

This is a great way to get leads because the comprehensiveness of your work seems like a great deal for an email address.

HubSpot’s list of marketing statistics includes a pitch for their “State of Inbound Marketing” report. This is a detailed guide with massive amounts of high-quality data.

hubspot state of inbound marketing report

But they aren’t giving this away for free. To receive the report, you need to provide a detailed amount of information that HubSpot will use to follow up with you on their products.

use reports to collect leads for your inbound marketing

This is an effective way to drive your visitors into your sales funnel and reach them even more effectively.

14. Host a Free Webinar

One of my favorite inbound marketing techniques for startups is free webinars that encourage customers to learn in real-time.

This is great because it lets them see your face and understand your personality. Besides, lots of people will download a guide and never read it.

But if someone signs up for a webinar, you can see if they watch the whole thing.

I have used this kind of training on my homepage in the past. I didn’t call it a webinar, though. I just used the term “training.”

host a free webinar or training to collect inbound marketing leads

This is a great way to increase your leads as visitors must enter their first name and email address to access the training.

host a free webinar or training to get inbound marketing leads

Since this is such a valuable teaching piece, people who come to my website are happy to provide their email address to learn SEO better.

15. Launch an Email Course

There’s another form of content you can create that will drive new customers.

Even better, it won’t require the extensive research that a report demands or the complicated backend software necessary for a webinar.

That strategy is to create an email course. This is a simple way to provide extra value without spending tons of time creating something with design elements or video.

A great example is a free masterclass Mariah Coz offers. Because it’s a course, it makes the content feel more valuable.

create a free masterclass for your inbound marketing strategy

If you’re currently giving away an e-book for your startup and you’ve found that it isn’t converting well, consider breaking down the content into sections.

Then use each section as a separate email. You may find that an email course or a masterclass converts even better than an ebook.

16. Start an Influencer Marketing Campaign

According to a survey by Influencer Marketing Hub, 75 percent of brands have a dedicated budget for influencer marketing, and 90 percent of respondents believe it’s an effective form of advertising.

If you do this the right way, it can be a free or paid method to get people excited about your brand.

If you’re going to launch an influencer marketing campaign, you need to understand what will make it work best.

First and most importantly, you need to make sure you’re appealing to the right influencers.

This is easy to get wrong, as the people you think you’re appealing to may not be persuasive to your target audience.

The earlier research you did on your audience should be a great starting place to understand who they pay attention to, but you might need to do even more work than that.

How do you find the right influencers for your startup? You can:

  • Google phrases like “top [niche] influencers.
  • Browse hashtags on Instagram related to your niche.
  • Use Influencer platforms to connect with creators.
  • Search key phrases on Ubersuggest to find blogs that appeal to your target audience.
use Ubersuggest for inbound marketing

17. Build Relationships with Influencers

Once you know which influencers are best for your brand, you need to start targeting them specifically.

While you can just run into promotion and start spamming them with requests to share the content you created, this won’t be very effective.

You’ll irritate them and ruin the relationship.

Instead, you need to start slow and gradually build a relationship with the influencers you’d like to promote your content.

One of the best ways to reach influencers is through targeted communication on social media. You can let them know when they inspired you to write.

You should also do everything you can to help those influencers by providing communication that’s always focused on their needs.

While it may seem frustrating to always focus on them, you’ll eventually start to build a relationship that allows you to make a small request.

If you’ve built great relationships from the start, they’ll be happy to oblige.

18. Build Effective Email Campaigns

You already know that email marketing is critical to a successful inbound marketing campaign for your startup.

But are you using it effectively?

Email marketing has a massive ROI. 

According to Litmus, the average ROI was $42 for every $1 spent on emails.

ROI on email marketing as an inbound marketing strategy

But to make it work, you need to be strategic with how you promote your brand through email.

19. Send Helpful Content to Subscribers

First and foremost, you need to be useful to your subscribers. When someone signs up, you need to provide them with a reason to stay on your email list.

If you’re constantly spamming them or sending worthless content, they’ll unsubscribe and probably never return.

Instead, send emails with valuable information they can’t get anywhere else.

Buzzsumo does a great job with this in their articles and emails. Their weekly update includes a report on engagement on Facebook, based on 880-million posts.

create valuable emails to improve your inbound marketing strategy

That’s a hugely valuable piece of content I want to read.

More importantly, I want to stay subscribed to the newsletter, and I’ll keep looking forward to their emails.

This is the kind of reaction you need to build with your subscribers. If they’re looking forward to your marketing, you’re doing it correctly.

20. Stick with Email Marketing for The Long Term

You need to be in the email game for the long term.

If you’re not consistently providing great content with your inbound marketing, you’re going to be frustrated.

Instead of pitching your product immediately after someone signs up on your email list, send them a welcome sequence that gradually introduces them to what you have to offer.

According to Invesp, the average cost of a lead drops 80 percent after five months of consistent inbound marketing.

average cost of inbound marketing

If you want to save massive dollars on your marketing strategies, you need to get ready to work for a while on each prospect.

Be patient, and you’ll be thankful for the results.

21. Make Your Website Convert Like Crazy by Making it Mobile Friendly

Ultimately, the goal of much of your inbound marketing strategy is to drive people to your startup’s website.

If you’re not converting people once they arrive, however, what’s the point?

Conversion is the key to successful inbound marketing since it’s the transition from visitor to prospect.

inbound marketing helps boost your conversions infographic

You need to make sure your website is ready to convert your traffic into leads and customers.

It’s the only way to make your startup grow with the traffic you’ve worked so hard to acquire.

The first and most important way to ensure you’re getting the conversions you deserve is by making your website mobile accessible.

If your startup’s site isn’t responsive, you’re going to struggle to convert the traffic you’ve worked so hard to drive there.

According to WVO, out of 100 leading websites, only 11 were responsive. Perhaps even more telling, only seven of 148 companies felt the need for mobile optimization.

Infographic Why a Website Redesign won't fix your inbound marketing

In short, the vast majority of websites aren’t appealing to mobile users, and they aren’t putting in the work they need to make these changes.

Instead of actually converting their mobile customers, they’re losing out on valuable traffic.

Don’t let that happen to you. Make sure your site is responsive and that it works well on mobile.

22. Install Hello Bar

If you want to get more conversions from the traffic you’re sending to your site, you should consider installing Hello Bar.

use hello bar to increase inbound marketing leads

This is a simple tool that allows you to add a signup form at the top of your website. Since it’s unobtrusive, it won’t distract from the user experience.

But since it’s always at the top of your pages, it will drive massive conversions.

It’s a great way to get a few new leads each day.

23. Drive Conversions with Content Upgrades

If you want to skyrocket the conversions you’re getting from the content you publish on your website, look no further than a content upgrade.

Unlike a traditional lead magnet, a content upgrade will optimize your highest-converting pieces of content.

A great example is the “700+ Power Word Cheat Sheet” used in the article on the topic over at OptinMonster.

700 Power Words That Will Boost Your inbound marketing Conversions

Because the people reading this article are interested in finding out more about the words that can make their writing more effective, this is a great way to encourage them to sign up.

You can do the same thing. To make this work, find a popular article and create a custom bonus that adds to the piece of content you’ve already written.

Link this in the article, and watch the new leads for your startup skyrocket.

24. Test and Refine Your Inbound Marketing Strategies

It’s no secret that I think testing is the only way to improve all kinds of marketing.

This applies to the inbound marketing strategies you’re using for your startup as well.

You need to monitor your results and make gradual improvements to different components of your campaign.

If they don’t work as expected, you should refine those strategies and try something new. But even if they do work for you, I recommend going back and making improvements.

Keeping an A/B split-test running at all times is a great way to make small but consistent changes to your marketing strategy and to make sure everything is working at its best.

Inbound Marketing Strategy FAQs

What is an inbound marketing strategy?

An inbound marketing strategy attracts prospects to your brand by creating valuable content that is relevant and helpful.

What are the five inbound principles?

The five principles of inbound marketing are standardize, contextualize, optimize, personalize, and empathize.

What are the types of inbound marketing?

Videos, blogs, pillar pages, eBooks, social media, press releases, infographics, newsletters, research papers, podcasts, webinars, and expert interviews.

How do you develop an inbound strategy?

You need to know the purpose of your content, your target audience, and how your content fits in with the buyer’s journey.

Inbound Marketing Strategies Summary

If you’re launching a startup, you want to make sure you’re implementing the best practices for extremely fast growth.

By now, you know that inbound marketing is the most effective way to increase your visitors, leads, and buyers.

You’ll need to attract customers by understanding their deepest needs, aspirations, and struggles. Using that data, create epic content that draws them in like a magnet.

Extend your reach to other sites, present your content around the web, acquire new customers, and build your influence and authority.

You’ll need to include SEO best practices so that customers can find you through search engines as well.

Once you have the traffic, convert those visitors with free content and influencer marketing that drives leads.

With a compelling email campaign and a high-converting website, you can grow your business like never before.

Which inbound marketing strategies will you use to grow your startup?