There’s a lot of pressure for business owners to keep growing and growing their companies. Here’s a convincing reason why no one decides how you grow.
We love hearing SME stories of year-on-year growth - especially when we have been able to help clients achieve this goal.
We understand that each business will have its own unique goals.
The pressure to keep growing for growth’s sake
Sadly, businesses are pressured to keep growing often for growth’s sake. They are made to feel like failures for not wanting to “get too big”.
We believe consistency is underrated. There’s a lot to be said for solid, profitable and repeatable year-on-year business. Many businesses want to stay manageable. And that’s a strong strategic move.
It’s also a strong personal move.
Here’s why.
The importance of growing on your terms
If you’re like many of the business leaders that we work with your business will be your life’s work. And your work also impacts on your lifestyle.
Here’s a memorable way of explaining this argument.
Maybe you’ve heard this story before - the “parable” of The Banker and The Fisherman.
A lesson from The Banker and The Fisherman
A banker was on holiday in the Caribbean when he noticed a little fishing boat being dragged onto the beach from the sea.
The Banker complimented The Fisherman on the quality of the fish hung on a wire and asked him how long it had taken to catch them.
“Not very long”, answered The Fisherman.
“Why didn’t you stay out longer and catch more?” The Banker asked.
The Fisherman explained that his small catch was enough to feed his family.
“What do you do with the rest of your time”, asked The Banker.
“I sleep late, fish a little, play with my kids and take a siesta with my wife. In the evenings I go to the village, see my friends, have a few drinks, play guitar and sing songs. I have a full and happy life”, he replied.
“I am an investment banker and can help you do more,” said The Banker. “First start by fishing for longer every day and sell the extra fish you catch. With the extra money you can buy a bigger boat. With the extra money the bigger boat brings, buy a second and a third boat until you have an entire fishing fleet. Instead of selling your fish to the local market you can negotiate directly with a large fish processing plant or maybe even open your own plant to get access to more customers. You could then leave this little village and move to the big city and have all the trappings of a successful life.”
“How long would that take?” asked The Fisherman.
“Between ten and fifteen years,” replied The Banker.
“And after that?” The Fisherman enquired.
“Afterwards? That’s when it gets really interesting”, answered The Banker smiling. “When your business gets really big you can sell it and make millions”.
“Millions? Really? And after that?"
“Then you’ll be able to retire, buy an old cottage in a tiny fishing village near the coast, sleep late, play with your kids, catch a few fish, take siesta with your wife and spend evenings drinking and playing the guitar with your friends”.
The Lesson for SMEs
An SME is a thriving enterprise with the owner being the driving force and often the main contact with customers. So, the lesson for business owners should think about what they are trying to achieve and decide what they want from their business.
Because true success is measured in terms of quality, not quantity.
Grow your business on your terms
Invoice Finance can offer you a flexible working capital solution that can tailored to your business needs.
If your business grows, so does your facility.
With Invoice Factoring you will get to work closely with one of our friendly, highly-trained credit controllers and a dedicated Relationship Manager. Or if you would prefer to maintain full credit control then Invoice Discounting could be cashflow solution for you.
At Skipton Business Finance our friendly teams across the UK can provide your business with working capital from as little as £25,000 to as large as £5m.
Invoice Finance can provide a much-needed cash injection for B2B SMEs based in the UK. No more 90 day waits for payments.
If you would like a no-obligation FREE quote email info@skiptonbf.co.uk or use the quick and simple form on the right and one of our regional experts will call you back.
About Skipton Business Finance (SBF)
Skipton Business Finance provide businesses with working capital through flexible Invoice Finance solutions, including Invoice Factoring, Invoice Discounting, our confidential My White Label solution and our interest-free Skipton Select solution.
SBF can provide working capital to a business by advancing funds varying from £25,000 up to £5m. Backed by the Skipton Building Society, we look at the individual merits of a business as part of our underwriting criteria. We look at potential sales figures and the whole context, not only credit scores.
We don’t just run details through a computer to make a decision. We sit down with you and understand how your business operates, how you want to be funded and how we can support you.
Want to understand how Invoice Financing can help your business? Why not have a look at our solutions: