Are you familiar with the term “never give up?” It’s an extremely common saying, but the sentiment carries valuable meaning in no other enterprise quite like the small business market. If your small business is struggling to take off and flourish despite your consistent hard work and sleepless nights, you might find some solace knowing that you’re not alone – many businesses that were doomed to fail eventually became some of the most well-known, successful companies in the world.
Working Capital Is A Proven Small Business Solution
Even if you are doing things right in your business, sometimes your growth is limited simply because you just don’t have enough capital funding to fuel expansion, operating costs, to meet your demand or other important reasons. Well, at The Commercial Finance Group, we enable small businesses to grow and reach their true potential by providing working capital solutions in the form of asset-based loans, factoring services and receivables financing capital loans.
Let CFG Help You Grow
Our comprehensive loans for small businesses provide fast and effective solutions for the working capital that you need to take your business operations to the next level, helping you reach more customers, sell more product, expand your services, and support the growth of the small business market.
To learn more about our approach to lending and how we treat working capital solutions here at The Commercial Finance Group, visit this page or feel free to reach out to us with any questions that you have about access to capital. Now, let’s talk about some major businesses that were once struggling and what they did to turn their business around.
FedEx Had Low Company Funds At One Point
FedEx has a long history dating back to around 1971. FedEx isn’t necessarily known for suddenly emerging as a major logistics competitor due to their extensive and well-founded history. That being said, the now roughly $30 billion corporate powerhouse that we all know and love today used to be, at one point, hemorrhaging money.
After a few years of steady operations back in the day, things like rising gas prices and logistics nightmares were causing FedEx to lose roughly a million dollars per month. Indeed, at one point, the company funds got as low as $5,000. Thanks to some skillful positioning (and maybe even some additional working capital solutions to help them during hard times, who knows), the delivery company managed to rise up from the dangers of failure and become a self-sustaining, profitable and international business.
Airbnb Struggled To Get Funding At One Point
It might seem crazy that back in the day, no investors would fund a great idea like Airbnb. As quickly as Airbnb did grow, the startup struggled to find decent funding back in 2008 – prominent investors all over Silicon Valley passed on the idea and the company had to resort to certain ‘patchwork’ financial fixes.
It is said that Airbnb even went so far as creating custom cereal boxes to help make financial ends meet when the going was tough. Alas, the convenient app was able to pull through and find the right funding that they needed to grow their business and achieve levels of success that were probably unimaginable back in 2008.
Apple’s Famous Story
Tech giant Apple probably represents one of the most all-time iconic rises to major success for a company. After initial innovation and success with their products back in their early days, Apple started to fall, and the departure of Steve Jobs back in 1985 certainly wasn’t doing the company any favors. Even when Jobs was rehired back in 1997, Apple was essentially operating at a loss and nearing bankruptcy every year.
After a 12-year spiral, this forced a lot of innovation, change, and rebranding for the company. After the new iMac and the steady restructuring of consumer expectations, Apple was able to turn itself around into…well, you already know, and that in itself proves their massive success.
Reddit Lacks Website Traffic At First
Once an unpopular imageboard and forum for specific topics, Reddit is now one of the world’s most popular online platforms for aggregated content with some 169 million unique visitors per month. However, Reddit’s success followed a series of near-failures along the way. When the site launched in 2005, it had no visitors. So, the founders tried to think of a solution to this issue of little to no traffic.
What the founders of Reddit did was create fake accounts and hold fake discussions on the platform until some visitors started noticing the activity and then joined in. Eventually, the site gained a lot of traction and now considers itself as “the front page of the internet.” One of the main takeaways with Reddit’s situation is that, as a struggling small business owner, you shouldn’t take early signs of failure too literally or as unchangeable. If you truly believe that you have a good product or service and a good team to back that up, then there’s always a solution to make your business become successful.
Intuit Had No Revenue At One Point
Back in 1985, Intuit, famous for their accounting software ‘Quickbooks,’ ran out of money and had essentially no revenue at that point in time. As a result, the company had to stop paying salaries to its employees and returned its rented furniture, computers, and other essential office equipment.
A few dedicated employees stayed on with the company and managed to find a few large bank clients that were able to provide desperately-needed revenue. Indeed, Intuit came back from the brink of total failure after Quickbooks began to soar in popularity, and now TurboTax is a well-recognized household name for countless people.
IBM Struggles In The Early 90s
Back well over 20 years ago, IBM was on a sort of downward spiral with their business as there were plans to break the company into several smaller operating units. On all days to take over a company, Lou Gerstner took charge on April Fool’s Day in 1993 and started one of the most glorious business turnarounds that the tech industry had ever seen. After a series of massive layoffs and raising cash by selling assets, Gerstner halted the company’s plans to break up into smaller operating units. Instead, he united IBM into one unified company that we’re familiar with today.
Even When Times Are Tough, Turn Things Around With CFG
Owning and growing your own small business is a tough venture. Some days will be harder than others, but just know that our working capital loan solutions at The Commercial Finance Group can help a stagnating business breakthrough to new levels of potential and success. We specialize in receivable factoring services that solve your cash flow problems with quick and effective cash flow solutions.
For your go-to factoring company and get the working capital your small business needs, don’t get discouraged by other loan providers. Instead, get in touch with us at The Commercial Finance Group and we’ll help your small business flourish.
