The role of small businesses in economic growth
Small businesses are an integral part of the fabric of our communities, providing jobs, networks and making a local impact in the micro economy. So, when small businesses grow, they raise up their communities with them. Small businesses can inspire the rest of us to start a business or to work on their team to be a part of local success. The hope for economic mobility is hinged upon the success of small businesses because, after all, everyone has to start somewhere (even Salesforce!).
Challenges of Small businesses in raising capital
One of the major hurdles for small companies can be raising capital. With the ebb and flow of contracts or clients, raising capital can enable small businesses to ride out those troughs and keep the lights on until business becomes consistent.
Raising capital can be a challenge. However, we’ve seen small businesses leverage their Salesforce investment to receive even larger ones from VCs.
Here we’ll highlight a few ways (out of the many), that your small business can use your Salesforce implementation to convince others to invest in you.
How to use Salesforce to get capital
- Monthly sales: You have a great deal of data, and your sales pipeline is a great asset in demonstrating to investors that you have a history of sales over time.
- Repeat customers: Using Salesforce Accounts and Opportunities, small businesses can make a case for repeat business. Showing your loyal customers will instill confidence in your product or service as a viable business. It also ties into the next factor: forecasting.
- Sales Forecasting: With Salesforce Collaborative forecast, a small business owner can demonstrate how his/her business is poised for growth. Growth is an important metric investors look at. Here’s where you can show compelling, data driven projections that will substantiate your company’s value, and why you make for a good investment.
- Campaigns: Salesforce campaigns helps you demonstrate the cost of acquiring a new customer, and the return on investment for every customer. This data is important in helping validate your business as sustainable.
- Valuation: Want to sell? Salesforce does more, than just track your sales pipeline, it helps you value your company. Combining revenues from your sales pipeline and the cost of running your business, Salesforce can help you determine your discounted cash flow.
Want Salesforce but concerned about the required capital? We can help you.
We understand the Salesforce license structure and can help you determine what Salesforce pricing structure works best for you.
Talk to us to find out what your implementation options are, and for more details on how to get Salesforce working for you.