We were delighted to see the return of the Premier League this week.
With many clubs spending big this summer to bring in new talent, this season promises to be full of excitement.
Here are 3 things that we can learn from Premier League managers on securing finance for your business.
1. Plan a strategy and act fast to succeed
At the beginning of the summer managers were likely making their plans for the forthcoming season and the resources they will need to achieve this. Will they be competing for silverware, trying to break into Europe or likely to be fighting a tough relegation battle?
They will have also considered what areas of their team they need to strengthen. Should they tighten the ship at the back, add power to their midfield, add flair up top or build their squad depth for the long season ahead? There is a lot of planning and thinking ahead that goes on pre-season.
This reminds us that all businesses, like football managers must plan ahead, so that they can anticipate the business needs and the finance that they will require to meet this.
Do you need to recruit staff or buy new equipment, are your marketing campaigns ready to be financed and have you got enough stock in place to meet demand at peak times?
2. Utilise the assets that you have
With a transfer market spiralling upwards many managers turned their focus to realising the cash in their current assets.
Whether selling players that were surplus to requirements, or loaning players out to other teams to release the cash that they must pay in wages, managers have been finding ways to raise finance for new arrivals.
The Funding Store can also help you release the cash in the assets that your business holds, through asset refinancing, so that you can invest this in improving the performance of your business.
3. Maintain your focus
Often the Premier League managers will have teams of finance professionals alongside them, helping them raise finance and to make bids for new players.
However, often in business it might be just you, the business owner, or a Finance Director who is responsible for raising the sufficient funding.
At The Funding Store, our team can work with you to take away the strain and time needed to find the finance that is right for you.
Contact us today to discuss how we can help get the finance that your business needs.